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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
+11.75%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$1.43B
AUM Growth
+$72.6M
Cap. Flow
-$67.2M
Cap. Flow %
-4.68%
Top 10 Hldgs %
30.02%
Holding
534
New
24
Increased
339
Reduced
115
Closed
21

Top Buys

Rank Stock Value
1
BOXX icon
Alpha Architect 1-3 Month Box ETF
BOXX
+$1.66M
2
MSFT icon
Microsoft
MSFT
+$629K
3
VLTO icon
Veralto
VLTO
+$565K
4
PHM icon
Pultegroup
PHM
+$563K
5
DHI icon
D.R. Horton
DHI
+$536K

Top Sells

Rank Stock Value
1
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$26.9M
2
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$10.1M
3
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$8.98M
4
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$8.6M
5
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$8.25M

Sector Composition

Rank Sector Weight
1 Technology 27.37%
2 Healthcare 12.03%
3 Financials 10.77%
4 Consumer Discretionary 10.06%
5 Communication Services 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PNC icon
126
PNC Financial Services
PNC
$101B
$2.22M 0.15%
14,312
+50
+0.4% +$6.47K
CMG icon
127
Chipotle Mexican Grill
CMG
$42.8B
$2.19M 0.15%
47,850
+350
+0.7% +$14.6K
PXD
128
DELISTED
Pioneer Natural Resource Co.
PXD
$2.18M 0.15%
9,678
-1,681
-15% -$394K
MCO icon
129
Moody's
MCO
$83.8B
$2.17M 0.15%
5,544
+27
+0.5% +$9.38K
VOE icon
130
Vanguard Morningstar Mid-Cap Value ETF
VOE
$24B
$2.14M 0.15%
14,732
-59
-0.4% -$7.92K
FCX icon
131
Freeport-McMoran
FCX
$96.7B
$2.13M 0.15%
50,054
+312
+0.6% +$11.5K
NUE icon
132
Nucor
NUE
$62.4B
$2.13M 0.15%
12,237
-654
-5% -$104K
MMM icon
133
3M
MMM
$93.6B
$2.12M 0.15%
23,248
+105
+0.5% +$8.43K
APD icon
134
Air Products & Chemicals
APD
$65.6B
$2.12M 0.15%
7,735
+57
+0.7% +$15.7K
ORLY icon
135
O'Reilly Automotive
ORLY
$74.9B
$2.11M 0.15%
33,375
-15
-0% -$948
USB icon
136
US Bancorp
USB
$100B
$2.11M 0.15%
48,777
+834
+2% +$30.5K
FDX icon
137
FedEx
FDX
$74.1B
$2.08M 0.15%
8,235
+32
+0.4% +$8.13K
HCA icon
138
HCA Healthcare
HCA
$86.8B
$2.08M 0.14%
7,676
-32
-0.4% -$7.91K
GD icon
139
General Dynamics
GD
$104B
$2.07M 0.14%
7,964
+39
+0.5% +$9.51K
MAR icon
140
Marriott International
MAR
$90B
$2.07M 0.14%
9,170
-2
-0% -$405
PH icon
141
Parker-Hannifin
PH
$125B
$2.06M 0.14%
4,478
+29
+0.7% +$12.1K
APH icon
142
Amphenol
APH
$211B
$2.06M 0.14%
41,502
+268
+0.6% +$11.8K
OXY icon
143
Occidental Petroleum
OXY
$54.8B
$2.03M 0.14%
33,996
-6,231
-15% -$380K
ROP icon
144
Roper Technologies
ROP
$38.8B
$2.02M 0.14%
3,699
+29
+0.8% +$14.9K
HUM icon
145
Humana
HUM
$43.5B
$2.01M 0.14%
4,395
+11
+0.3% +$5.42K
EMR icon
146
Emerson Electric
EMR
$89B
$1.98M 0.14%
20,322
+53
+0.3% +$4.85K
NSC icon
147
Norfolk Southern
NSC
$76.7B
$1.95M 0.14%
8,261
+4
+0% +$838
LEN icon
148
Lennar Class A
LEN
$21B
$1.95M 0.14%
13,529
+40
+0.3% +$4.82K
PTMC icon
149
Pacer Trendpilot US Mid Cap ETF
PTMC
$403M
$1.92M 0.13%
58,484
– –
ANET icon
150
Arista Networks
ANET
$240B
$1.9M 0.13%
32,240
+452
+1% +$23.7K
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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CF
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Empirical Finance's Q4 2023 Portfolio in Review

As of Q4 2023, Empirical Finance held 534 positions worth $1.43B, up 5.3% from $1.36B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Empirical Finance withdrew a net $67.2M in Q4 2023, closing 21 positions and reducing 115 holdings. Its most notable exit was iShares 0-3 Month Treasury Bond ETF, an estimated $26.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 25% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Empirical Finance opened a new position in Veralto worth $622K.

  • Empirical Finance's largest Q4 2023 buy was Veralto: 7,563 shares worth $622K.
  • Empirical Finance added most to Alpha Architect 1-3 Month Box ETF in Q4 2023, an estimated $1.66M increase.
  • Empirical Finance's biggest Q4 2023 reduction was Alpha Architect International Quantitative Momentum ETF, cutting an estimated $10.1M.
  • Empirical Finance fully exited iShares 0-3 Month Treasury Bond ETF in Q4 2023, selling an estimated $26.9M.
  • Empirical Finance's ten largest holdings make up 30% of its $1.43B portfolio in Q4 2023.
  • Empirical Finance opened 24 new positions and closed 21 in Q4 2023.
  • Empirical Finance's portfolio value rose 5.3% quarter-over-quarter to $1.43B.

Based on Empirical Finance's 13F filing for Q4 2023, filed 14 Feb 2024.