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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
+8.72%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$411M
AUM Growth
+$53.1M
Cap. Flow
+$22.8M
Cap. Flow %
5.55%
Top 10 Hldgs %
53.21%
Holding
205
New
46
Increased
91
Reduced
53
Closed
3

Top Buys

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$9.75M
2
MSFT icon
Microsoft
MSFT
+$1.55M
3
AAPL icon
Apple
AAPL
+$1.5M
4
VGT icon
Vanguard Information Technology ETF
VGT
+$1.13M
5
XLY icon
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
+$1.13M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$4.02M
2
ADME icon
Aptus Behavioral Momentum ETF
ADME
+$1.63M
3
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$1.56M
4
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$1.41M
5
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$1.03M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 10.39%
2 Technology 7.08%
3 Healthcare 5.82%
4 Industrials 4.26%
5 Communication Services 3.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ANGL icon
151
VanEck Fallen Angel High Yield Bond ETF
ANGL
$3.08B
$429K 0.1%
14,379
+4,621
+47% +$136K
AGGY icon
152
WisdomTree Yield Enhanced US Aggregate Bond Fund
AGGY
$922M
$419K 0.1%
8,028
-15,668
-66% -$818K
AVGO icon
153
Broadcom
AVGO
$1.85T
$396K 0.1%
+12,530
New +$380K
TEN
154
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
$394K 0.1%
30,108
+359
+1% +$4.71K
MMM icon
155
3M
MMM
$90.8B
$384K 0.09%
2,604
+944
+57% +$132K
DHR icon
156
Danaher
DHR
$138B
$367K 0.09%
2,696
+992
+58% +$125K
GE icon
157
GE Aerospace
GE
$368B
$362K 0.09%
6,517
+2,413
+59% +$125K
LMT icon
158
Lockheed Martin
LMT
$132B
$359K 0.09%
922
+341
+59% +$131K
LOW icon
159
Lowe's Companies
LOW
$118B
$358K 0.09%
2,991
+1,060
+55% +$121K
BKNG icon
160
Booking.com
BKNG
$150B
$355K 0.09%
4,325
+1,450
+50% +$114K
EQAL icon
161
Invesco Russell 1000 Equal Weight ETF
EQAL
$817M
$351K 0.09%
10,258
+22
+0.2% +$721
MO icon
162
Altria Group
MO
$113B
$348K 0.08%
+6,966
New +$329K
ORCL icon
163
Oracle
ORCL
$367B
$342K 0.08%
6,461
-24
-0.4% -$1.32K
CVS icon
164
CVS Health
CVS
$134B
$335K 0.08%
+4,510
New +$317K
USB icon
165
US Bancorp
USB
$98B
$332K 0.08%
5,598
+1,970
+54% +$114K
AXP icon
166
American Express
AXP
$228B
$327K 0.08%
2,630
+939
+56% +$112K
CHTR icon
167
Charter Communications
CHTR
$16.9B
$323K 0.08%
+665
New +$306K
VYM icon
168
Vanguard High Dividend Yield ETF
VYM
$80.9B
$310K 0.08%
3,308
– –
UPS icon
169
United Parcel Service
UPS
$89.5B
$302K 0.07%
+2,581
New +$306K
MDLZ icon
170
Mondelez International
MDLZ
$80.5B
$301K 0.07%
+5,456
New +$292K
GS icon
171
Goldman Sachs
GS
$302B
$294K 0.07%
+1,277
New +$277K
TFC icon
172
Truist Financial
TFC
$63.5B
$288K 0.07%
+5,107
New +$277K
TJX icon
173
TJX Companies
TJX
$176B
$281K 0.07%
+4,609
New +$273K
ADP icon
174
Automatic Data Processing
ADP
$105B
$278K 0.07%
+1,632
New +$270K
PNC icon
175
PNC Financial Services
PNC
$99.2B
$274K 0.07%
+1,717
New +$258K
5 6
7
8 9

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AAP
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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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HJGA
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Empirical Finance's Q4 2019 Portfolio in Review

As of Q4 2019, Empirical Finance held 205 positions worth $411M, up 15% from $358M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Empirical Finance deployed $22.8M of net new capital in Q4 2019, opening 46 new positions and adding to 91 existing holdings. Its largest new stake was Vanguard Information Technology ETF: 39,632 shares worth $1.21M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 10% of assets, down from 11% a quarter earlier, followed by Technology and Healthcare.

On the sell side, the largest reduction was iShares Core S&P 500 ETF, an estimated $4.02M trimmed.

  • Empirical Finance's largest Q4 2019 buy was Vanguard Information Technology ETF: 39,632 shares worth $1.21M.
  • Empirical Finance added most to State Street SPDR Bloomberg 1-3 Month T-Bill ETF in Q4 2019, an estimated $9.75M increase.
  • Empirical Finance's biggest Q4 2019 reduction was iShares Core S&P 500 ETF, cutting an estimated $4.02M.
  • Empirical Finance fully exited Aptus Behavioral Momentum ETF in Q4 2019, selling an estimated $1.63M.
  • Empirical Finance's ten largest holdings make up 53% of its $411M portfolio in Q4 2019.
  • Empirical Finance opened 46 new positions and closed 3 in Q4 2019.
  • Empirical Finance's portfolio value rose 15% quarter-over-quarter to $411M.

Based on Empirical Finance's 13F filing for Q4 2019, filed 27 Jan 2020.