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EF

Empirical Finance Portfolio holdings

AUM $2.13B
1-Year Est. Return 29.56%
This Fund
S&P 500
This Quarter Est. Return
+0.43%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$365M
AUM Growth
-$28.1M
Cap. Flow
-$26.9M
Cap. Flow %
-7.38%
Top 10 Hldgs %
56.68%
Holding
168
New
7
Increased
83
Reduced
58
Closed
15

Top Buys

Rank Stock Value
1
ANGL icon
VanEck Fallen Angel High Yield Bond ETF
ANGL
+$1.91M
2
AGGY icon
WisdomTree Yield Enhanced US Aggregate Bond Fund
AGGY
+$1.88M
3
VXUS icon
Vanguard Total International Stock ETF
VXUS
+$948K
4
VTI icon
Vanguard Total Stock Market ETF
VTI
+$808K
5
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$551K

Top Sells

Rank Stock Value
1
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$7.95M
2
AAVM
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
+$4.42M
3
SCHR
Schwab Intermediately-Term US Treasury ETF
SCHR
+$4.04M
4
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$3.49M
5
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$1.75M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 10.81%
2 Technology 6.78%
3 Industrials 4.63%
4 Communication Services 2.96%
5 Healthcare 2.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADBE icon
126
Adobe
ADBE
$105B
$332K 0.09%
1,126
-21
-2% -$5.83K
EQAL icon
127
Invesco Russell 1000 Equal Weight ETF
EQAL
$816M
$332K 0.09%
10,172
+42
+0.4% +$1.36K
TEN
128
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
$330K 0.09%
29,749
+158
+0.5% +$2.58K
HON icon
129
Honeywell
HON
$76.4B
$302K 0.08%
1,838
-35
-2% -$5.57K
PYPL icon
130
PayPal
PYPL
$50.3B
$300K 0.08%
2,617
-52
-2% -$5.76K
UNP icon
131
Union Pacific
UNP
$174B
$299K 0.08%
1,769
-35
-2% -$6K
VYM icon
132
Vanguard High Dividend Yield ETF
VYM
$80.8B
$289K 0.08%
3,308
– –
AMGN icon
133
Amgen
AMGN
$209B
$287K 0.08%
1,559
-32
-2% -$5.73K
PM icon
134
Philip Morris
PM
$309B
$280K 0.08%
3,564
-69
-2% -$5.7K
COST icon
135
Costco
COST
$432B
$278K 0.08%
1,051
+24
+2% +$5.98K
VT icon
136
Vanguard Total World Stock ETF
VT
$75.3B
$273K 0.07%
3,632
– –
SBUX icon
137
Starbucks
SBUX
$119B
$272K 0.07%
3,250
+52
+2% +$4.08K
TMO icon
138
Thermo Fisher Scientific
TMO
$214B
$271K 0.07%
922
-16
-2% -$4.41K
NKE icon
139
Nike
NKE
$64.1B
$264K 0.07%
3,146
+132
+4% +$11.1K
TXN icon
140
Texas Instruments
TXN
$248B
$260K 0.07%
2,265
-44
-2% -$4.92K
ABBV icon
141
AbbVie
ABBV
$465B
$259K 0.07%
3,562
-71
-2% -$5.58K
CRM icon
142
Salesforce
CRM
$154B
$248K 0.07%
1,635
-30
-2% -$4.7K
LLY icon
143
Eli Lilly
LLY
$1.08T
$244K 0.07%
2,205
-43
-2% -$5.06K
PIZ icon
144
Invesco Dorsey Wright Developed Markets Momentum ETF
PIZ
$694M
$243K 0.07%
8,986
-17,314
-66% -$458K
MMM icon
145
3M
MMM
$91.8B
$236K 0.06%
1,628
-31
-2% -$4.77K
RTX icon
146
RTX Corp
RTX
$290B
$236K 0.06%
2,878
-54
-2% -$4.52K
NEE icon
147
NextEra Energy
NEE
$184B
$221K 0.06%
4,320
-80
-2% -$3.94K
BKNG icon
148
Booking.com
BKNG
$156B
$212K 0.06%
+2,825
New +$203K
DHR icon
149
Danaher
DHR
$138B
$212K 0.06%
+1,671
New +$198K
GE icon
150
GE Aerospace
GE
$364B
$211K 0.06%
4,025
-79
-2% -$3.89K
3 4 5
6
7

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BCM
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GS
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SC
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NAAA
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IVAV
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GA
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HJGA
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Empirical Finance's Q2 2019 Portfolio in Review

As of Q2 2019, Empirical Finance held 168 positions worth $365M, down 7.2% from $393M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Empirical Finance withdrew a net $26.9M in Q2 2019, closing 15 positions and reducing 58 holdings. Its most notable exit was Schwab Intermediately-Term US Treasury ETF, an estimated $4.04M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 11% of assets, up from 11% a quarter earlier, followed by Technology and Industrials.

Against the trend, Empirical Finance opened a new position in VanEck Fallen Angel High Yield Bond ETF worth $1.94M.

  • Empirical Finance's largest Q2 2019 buy was VanEck Fallen Angel High Yield Bond ETF: 66,235 shares worth $1.94M.
  • Empirical Finance added most to Vanguard Total Stock Market ETF in Q2 2019, an estimated $808K increase.
  • Empirical Finance's biggest Q2 2019 reduction was Alpha Architect US Quantitative Momentum ETF, cutting an estimated $7.95M.
  • Empirical Finance fully exited Schwab Intermediately-Term US Treasury ETF in Q2 2019, selling an estimated $4.04M.
  • Empirical Finance's ten largest holdings make up 57% of its $365M portfolio in Q2 2019.
  • Empirical Finance opened 7 new positions and closed 15 in Q2 2019.
  • Empirical Finance's portfolio value fell 7.2% quarter-over-quarter to $365M.

Based on Empirical Finance's 13F filing for Q2 2019, filed 9 Jul 2019.