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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
+9.59%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$966M
AUM Growth
+$123M
Cap. Flow
+$60.3M
Cap. Flow %
6.24%
Top 10 Hldgs %
26%
Holding
507
New
27
Increased
444
Reduced
17
Closed
14

Top Buys

Rank Stock Value
1
SHV icon
iShares 0-1 Year Treasury Bond ETF
SHV
+$6.37M
2
AAPL icon
Apple
AAPL
+$4.07M
3
MSFT icon
Microsoft
MSFT
+$3.76M
4
HIDE icon
Alpha Architect High Inflation and Deflation ETF
HIDE
+$3.62M
5
NTSX icon
WisdomTree US Efficient Core Fund
NTSX
+$2.13M

Top Sells

Rank Stock Value
1
VTIP icon
Vanguard Short-Term Inflation-Protected Securities Index Fund
VTIP
+$5.46M
2
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$2.06M
3
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$1.9M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.84M
5
AAVM
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
+$1.2M

Sector Composition

Rank Sector Weight
1 Technology 19.81%
2 Healthcare 13.66%
3 Financials 11.12%
4 Consumer Discretionary 8.39%
5 Industrials 7.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NSC icon
126
Norfolk Southern
NSC
$76.7B
$1.6M 0.17%
6,491
+445
+7% +$105K
WM icon
127
Waste Management
WM
$90.5B
$1.6M 0.17%
10,173
+755
+8% +$121K
CME icon
128
CME Group
CME
$94.4B
$1.59M 0.16%
9,467
+771
+9% +$134K
FISV
129
Fiserv Inc
FISV
$29.7B
$1.59M 0.16%
15,720
+1,602
+11% +$160K
USB icon
130
US Bancorp
USB
$99.6B
$1.58M 0.16%
36,204
+2,992
+9% +$128K
LRCX icon
131
Lam Research
LRCX
$398B
$1.57M 0.16%
37,410
+2,850
+8% +$119K
DG icon
132
Dollar General
DG
$28.1B
$1.54M 0.16%
6,262
+452
+8% +$112K
SHW icon
133
Sherwin-Williams
SHW
$87.8B
$1.53M 0.16%
6,445
+504
+8% +$117K
TFC icon
134
Truist Financial
TFC
$64.3B
$1.53M 0.16%
35,450
+2,874
+9% +$126K
HCA icon
135
HCA Healthcare
HCA
$86.8B
$1.52M 0.16%
6,352
+334
+6% +$74.8K
EMR icon
136
Emerson Electric
EMR
$89B
$1.52M 0.16%
15,800
+1,197
+8% +$108K
MCK icon
137
McKesson
MCK
$97.2B
$1.52M 0.16%
4,039
+252
+7% +$94K
ORLY icon
138
O'Reilly Automotive
ORLY
$74.9B
$1.51M 0.16%
26,865
+1,635
+6% +$87.9K
GD icon
139
General Dynamics
GD
$104B
$1.51M 0.16%
6,090
+430
+8% +$105K
EL icon
140
Estee Lauder
EL
$31.5B
$1.51M 0.16%
6,073
+502
+9% +$112K
KLAC icon
141
KLA
KLAC
$255B
$1.5M 0.16%
39,720
+2,630
+7% +$91.7K
MET icon
142
MetLife
MET
$61.9B
$1.38M 0.14%
19,114
+1,147
+6% +$82.2K
AIG icon
143
American International
AIG
$42.1B
$1.37M 0.14%
21,636
+1,339
+7% +$77.9K
ADM icon
144
Archer Daniels Midland
ADM
$38.5B
$1.37M 0.14%
14,736
+1,143
+8% +$106K
AZO icon
145
AutoZone
AZO
$49.4B
$1.36M 0.14%
551
+28
+5% +$67.7K
EXPD icon
146
Expeditors International
EXPD
$23.7B
$1.35M 0.14%
12,969
+383
+3% +$39.5K
GIS icon
147
General Mills
GIS
$19.3B
$1.33M 0.14%
15,884
+1,206
+8% +$98.2K
D icon
148
Dominion Energy
D
$60.9B
$1.32M 0.14%
21,539
+1,801
+9% +$113K
DVN icon
149
Devon Energy
DVN
$50.8B
$1.31M 0.14%
21,223
+1,662
+8% +$113K
AEP icon
150
American Electric Power
AEP
$69.9B
$1.26M 0.13%
13,284
+1,074
+9% +$97.8K
4 5
6
7 8

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BCM
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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 Q4 2022 Portfolio in Review

As of Q4 2022, Empirical Finance held 507 positions worth $966M, up 15% from $843M the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Empirical Finance deployed $60.3M of net new capital in Q4 2022, opening 27 new positions and adding to 444 existing holdings. Its largest new stake was Alpha Architect High Inflation and Deflation ETF: 146,138 shares worth $3.42M.

By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, an estimated $2.06M trimmed.

  • Empirical Finance's largest Q4 2022 buy was Alpha Architect High Inflation and Deflation ETF: 146,138 shares worth $3.42M.
  • Empirical Finance added most to iShares 0-1 Year Treasury Bond ETF in Q4 2022, an estimated $6.37M increase.
  • Empirical Finance's biggest Q4 2022 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $2.06M.
  • Empirical Finance fully exited Vanguard Short-Term Inflation-Protected Securities Index Fund in Q4 2022, selling an estimated $5.46M.
  • Empirical Finance's ten largest holdings make up 26% of its $966M portfolio in Q4 2022.
  • Empirical Finance opened 27 new positions and closed 14 in Q4 2022.
  • Empirical Finance's portfolio value rose 15% quarter-over-quarter to $966M.

Based on Empirical Finance's 13F filing for Q4 2022, filed 24 Jan 2023.