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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
LMT icon
151
Lockheed Martin
LMT
$134B
$207K 0.06%
+569
New +$190K
AXP icon
152
American Express
AXP
$227B
$205K 0.06%
+1,661
New +$195K
MO icon
153
Altria Group
MO
$125B
$205K 0.06%
4,319
-87
-2% -$4.56K
AVGO icon
154
Broadcom
AVGO
$1.81T
– –
-6,770
Closed -$204K
DD icon
155
DuPont de Nemours
DD
$19B
– –
-2,104
Closed -$284K
EPOL icon
156
iShares MSCI Poland ETF
EPOL
$674M
– –
-60,558
Closed -$1.39M
EWH icon
157
iShares MSCI Hong Kong ETF
EWH
$1.24B
– –
-60,084
Closed -$1.57M
EWI icon
158
iShares MSCI Italy ETF
EWI
$993M
– –
-9,518
Closed -$265K
EWJ icon
159
iShares MSCI Japan ETF
EWJ
$21.3B
– –
-25,207
Closed -$1.38M
EWS icon
160
iShares MSCI Singapore ETF
EWS
$1.03B
– –
-56,307
Closed -$1.34M
EWY icon
161
iShares MSCI South Korea ETF
EWY
$21.1B
– –
-20,402
Closed -$1.24M
LOW icon
162
Lowe's Companies
LOW
$122B
– –
-1,936
Closed -$212K
MTUM icon
163
iShares MSCI USA Momentum Factor ETF
MTUM
$24.4B
– –
-2,599
Closed -$292K
PCY icon
164
Invesco Emerging Markets Sovereign Debt ETF
PCY
$1.39B
– –
-10,136
Closed -$284K
SCHR
165
Schwab Intermediately-Term US Treasury ETF
SCHR
$13.3B
– –
-150,266
Closed -$4.04M
THD icon
166
iShares MSCI Thailand ETF
THD
$364M
– –
-15,484
Closed -$1.37M
TUR icon
167
iShares MSCI Turkey ETF
TUR
$204M
– –
-8,338
Closed -$202K
ERUS
168
DELISTED
iShares MSCI Russia ETF
ERUS
– –
-47,039
Closed -$1.62M
3 4 5 6
7

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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.