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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
+1.07%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$395M
AUM Growth
+$1.62M
Cap. Flow
-$24.1M
Cap. Flow %
-6.1%
Top 10 Hldgs %
62.27%
Holding
210
New
49
Increased
24
Reduced
64
Closed
71

Top Buys

Rank Stock Value
1
SCHM icon
Schwab US Mid-Cap ETF
SCHM
+$7.47M
2
BND icon
Vanguard Total Bond Market
BND
+$6.38M
3
AAVM
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
+$5.38M
4
PDBC icon
Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
PDBC
+$3.73M
5
HLF icon
Herbalife
HLF
+$3.6M

Top Sells

Rank Stock Value
1
VTI icon
Vanguard Total Stock Market ETF
VTI
+$7.89M
2
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$7.07M
3
IVV icon
iShares Core S&P 500 ETF
IVV
+$5.67M
4
SCHR
Schwab Intermediately-Term US Treasury ETF
SCHR
+$4.04M
5
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$3.23M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 11.18%
2 Technology 7.58%
3 Healthcare 4.28%
4 Consumer Staples 2.63%
5 Communication Services 1.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMI icon
151
Cummins
CMI
$88.5B
– –
-17,578
Closed -$2.77M
COST icon
152
Costco
COST
$429B
– –
-1,027
Closed -$249K
CRM icon
153
Salesforce
CRM
$149B
– –
-1,665
Closed -$264K
DAL icon
154
Delta Air Lines
DAL
$58.8B
– –
-25,724
Closed -$1.33M
DBI icon
155
Designer Brands
DBI
$322M
– –
-36,659
Closed -$815K
DINO icon
156
HF Sinclair
DINO
$16.1B
– –
-17,717
Closed -$873K
EME icon
157
Emcor
EME
$31.4B
– –
-14,737
Closed -$1.08M
EQAL icon
158
Invesco Russell 1000 Equal Weight ETF
EQAL
$822M
– –
-10,130
Closed -$326K
FCX icon
159
Freeport-McMoran
FCX
$88.6B
– –
-113,209
Closed -$1.46M
FL
160
DELISTED
Foot Locker
FL
– –
-48,438
Closed -$2.94M
GLD icon
161
SPDR Gold Trust
GLD
$131B
– –
-7,785
Closed -$950K
HON icon
162
Honeywell
HON
$78.3B
– –
-1,954
Closed -$280K
IEF icon
163
iShares 7-10 Year Treasury Bond ETF
IEF
$47.4B
– –
-66,293
Closed -$7.07M
IJH icon
164
iShares Core S&P Mid-Cap ETF
IJH
$123B
– –
-26,095
Closed -$988K
IJR icon
165
iShares Core S&P Small-Cap ETF
IJR
$110B
– –
-8,317
Closed -$642K
INGR icon
166
Ingredion
INGR
$6.48B
– –
-14,866
Closed -$1.41M
IP icon
167
International Paper
IP
$23.3B
– –
-23,362
Closed -$1.02M
IPG
168
DELISTED
Interpublic Group of Companies
IPG
– –
-44,701
Closed -$939K
IVV icon
169
iShares Core S&P 500 ETF
IVV
$871B
– –
-19,913
Closed -$5.67M
KFY icon
170
Korn Ferry
KFY
$4.26B
– –
-20,486
Closed -$917K
KLAC icon
171
KLA
KLAC
$249B
– –
-236,380
Closed -$2.82M
LLY icon
172
Eli Lilly
LLY
$1.09T
– –
-2,248
Closed -$292K
LOW icon
173
Lowe's Companies
LOW
$122B
– –
-1,936
Closed -$212K
LUV icon
174
Southwest Airlines
LUV
$22.7B
– –
-27,167
Closed -$1.41M
MAN icon
175
ManpowerGroup
MAN
$2.58B
– –
-28,984
Closed -$2.4M
5 6
7
8 9

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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 2018 Portfolio in Review

As of Q2 2018, Empirical Finance held 210 positions worth $395M, up 0.41% from $393M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Empirical Finance withdrew a net $24.1M in Q2 2018, closing 71 positions and reducing 64 holdings. Its most notable exit was Vanguard Total Stock Market ETF, an estimated $7.89M 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 Healthcare.

Against the trend, Empirical Finance opened a new position in Schwab US Mid-Cap ETF worth $7.56M.

  • Empirical Finance's largest Q2 2018 buy was Schwab US Mid-Cap ETF: 413,061 shares worth $7.56M.
  • Empirical Finance added most to Vanguard Total Bond Market in Q2 2018, an estimated $6.38M increase.
  • Empirical Finance's biggest Q2 2018 reduction was Invesco S&P 500 Equal Weight ETF, cutting an estimated $1.87M.
  • Empirical Finance fully exited Vanguard Total Stock Market ETF in Q2 2018, selling an estimated $7.89M.
  • Empirical Finance's ten largest holdings make up 62% of its $395M portfolio in Q2 2018.
  • Empirical Finance opened 49 new positions and closed 71 in Q2 2018.
  • Empirical Finance's portfolio value rose 0.41% quarter-over-quarter to $395M.

Based on Empirical Finance's 13F filing for Q2 2018, filed 9 Jul 2018.