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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
-20.14%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$322M
AUM Growth
-$89.5M
Cap. Flow
+$6.81M
Cap. Flow %
2.12%
Top 10 Hldgs %
43.93%
Holding
251
New
49
Increased
124
Reduced
26
Closed
42

Top Buys

Rank Stock Value
1
SHY icon
iShares 1-3 Year Treasury Bond ETF
SHY
+$22.2M
2
SCHR
Schwab Intermediately-Term US Treasury ETF
SCHR
+$6.07M
3
MSFT icon
Microsoft
MSFT
+$2.57M
4
AAPL icon
Apple
AAPL
+$2.48M
5
DAL icon
Delta Air Lines
DAL
+$2.17M

Top Sells

Rank Stock Value
1
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$11.1M
2
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$10.6M
3
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$9.99M
4
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$9.29M
5
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$8.46M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 11.03%
2 Healthcare 9.44%
3 Technology 9%
4 Industrials 7.53%
5 Communication Services 4.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TJX icon
151
TJX Companies
TJX
$177B
$340K 0.11%
7,118
+2,509
+54% +$144K
INTU icon
152
Intuit
INTU
$89.7B
$339K 0.11%
1,476
+537
+57% +$145K
DUK icon
153
Duke Energy
DUK
$96.2B
$337K 0.1%
4,163
+1,520
+58% +$140K
CL icon
154
Colgate-Palmolive
CL
$74.4B
$331K 0.1%
4,983
+1,765
+55% +$124K
OXY icon
155
Occidental Petroleum
OXY
$53.5B
$331K 0.1%
28,611
+1,661
+6% +$54.6K
D icon
156
Dominion Energy
D
$60B
$330K 0.1%
4,572
+1,720
+60% +$140K
ISRG icon
157
Intuitive Surgical
ISRG
$133B
$330K 0.1%
1,998
+669
+50% +$123K
ZTS icon
158
Zoetis
ZTS
$31.2B
$328K 0.1%
2,786
+985
+55% +$130K
SO icon
159
Southern Company
SO
$107B
$324K 0.1%
5,982
+2,193
+58% +$139K
KSS icon
160
Kohl's
KSS
$2.23B
$312K 0.1%
21,401
-15,059
-41% -$564K
SPR
161
DELISTED
Spirit AeroSystems
SPR
$307K 0.1%
12,825
– –
SYK icon
162
Stryker
SYK
$129B
$306K 0.1%
1,837
+660
+56% +$129K
BLK icon
163
Blackrock
BLK
$176B
$303K 0.09%
688
+241
+54% +$119K
GS icon
164
Goldman Sachs
GS
$313B
$298K 0.09%
1,928
+651
+51% +$138K
ORCL icon
165
Oracle
ORCL
$416B
$296K 0.09%
6,129
-332
-5% -$17.1K
USB icon
166
US Bancorp
USB
$100B
$294K 0.09%
8,541
+2,943
+53% +$142K
FISV
167
Fiserv Inc
FISV
$28.9B
$292K 0.09%
3,074
+1,192
+63% +$132K
NOC icon
168
Northrop Grumman
NOC
$79.2B
$288K 0.09%
951
+293
+45% +$102K
TGT icon
169
Target
TGT
$67.1B
$279K 0.09%
3,002
+1,037
+53% +$115K
AMD icon
170
Advanced Micro Devices
AMD
$786B
$270K 0.08%
+5,943
New +$286K
CSX icon
171
CSX Corp
CSX
$94.7B
$270K 0.08%
14,157
+4,806
+51% +$112K
AMAT icon
172
Applied Materials
AMAT
$424B
$269K 0.08%
5,878
-22,982
-80% -$1.32M
BSX icon
173
Boston Scientific
BSX
$69.2B
$262K 0.08%
8,016
+2,887
+56% +$113K
PGR icon
174
Progressive
PGR
$124B
$262K 0.08%
+3,551
New +$274K
ATVI
175
DELISTED
Activision Blizzard
ATVI
$262K 0.08%
+4,407
New +$262K
5 6
7
8 9

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BCM
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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 Q1 2020 Portfolio in Review

As of Q1 2020, Empirical Finance held 251 positions worth $322M, down 22% from $411M the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Empirical Finance's Q1 2020 filing shows 49 new, 124 increased, 26 reduced and 42 closed positions. Its largest new stake was iShares 1-3 Year Treasury Bond ETF: 259,926 shares worth $22.5M. The largest sale was Alpha Architect International Quantitative Momentum ETF, an estimated $11.1M.

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

  • Empirical Finance's largest Q1 2020 buy was iShares 1-3 Year Treasury Bond ETF: 259,926 shares worth $22.5M.
  • Empirical Finance added most to Microsoft in Q1 2020, an estimated $2.57M increase.
  • Empirical Finance's biggest Q1 2020 reduction was Alpha Architect International Quantitative Momentum ETF, cutting an estimated $11.1M.
  • Empirical Finance fully exited Vanguard FTSE All-World ex-US ETF in Q1 2020, selling an estimated $3.7M.
  • Empirical Finance's ten largest holdings make up 44% of its $322M portfolio in Q1 2020.
  • Empirical Finance opened 49 new positions and closed 42 in Q1 2020.
  • Empirical Finance's portfolio value fell 22% quarter-over-quarter to $322M.

Based on Empirical Finance's 13F filing for Q1 2020, filed 16 Apr 2020.