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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
MU icon
176
Micron Technology
MU
$1.01T
$261K 0.08%
6,200
-23,817
-79% -$1.24M
MO icon
177
Altria Group
MO
$114B
$260K 0.08%
6,736
-230
-3% -$10.2K
KMB icon
178
Kimberly-Clark
KMB
$37.4B
$256K 0.08%
+2,001
New +$277K
APD icon
179
Air Products & Chemicals
APD
$65.7B
$254K 0.08%
+1,272
New +$290K
MRSH
180
Marsh
MRSH
$91.4B
$254K 0.08%
2,939
+1,045
+55% +$111K
MS icon
181
Morgan Stanley
MS
$343B
$253K 0.08%
7,432
+2,516
+51% +$118K
DE icon
182
Deere & Co
DE
$165B
$251K 0.08%
1,818
+643
+55% +$102K
PNC icon
183
PNC Financial Services
PNC
$102B
$251K 0.08%
2,624
+907
+53% +$122K
LHX icon
184
L3Harris
LHX
$53.3B
$249K 0.08%
+1,384
New +$284K
GPN icon
185
Global Payments
GPN
$23.9B
$246K 0.08%
+1,703
New +$311K
ITW icon
186
Illinois Tool Works
ITW
$85.5B
$245K 0.08%
1,722
+595
+53% +$101K
TFC icon
187
Truist Financial
TFC
$64.6B
$244K 0.08%
7,903
+2,796
+55% +$132K
BAX icon
188
Baxter International
BAX
$14.1B
$236K 0.07%
+2,912
New +$251K
VYM icon
189
Vanguard High Dividend Yield ETF
VYM
$82.5B
$234K 0.07%
3,308
– –
ILMN icon
190
Illumina
ILMN
$30.2B
$231K 0.07%
+870
New +$243K
ECL icon
191
Ecolab
ECL
$80.3B
$230K 0.07%
+1,473
New +$277K
SCHW
192
Charles Schwab
SCHW
$188B
$229K 0.07%
6,809
+2,387
+54% +$100K
SHW icon
193
Sherwin-Williams
SHW
$89.7B
$229K 0.07%
+1,494
New +$270K
EW icon
194
Edwards Lifesciences
EW
$51.3B
$228K 0.07%
+3,621
New +$261K
AEP icon
195
American Electric Power
AEP
$68.8B
$227K 0.07%
+2,844
New +$269K
NSC icon
196
Norfolk Southern
NSC
$76.8B
$227K 0.07%
+1,557
New +$287K
DG icon
197
Dollar General
DG
$28B
$225K 0.07%
+1,487
New +$230K
RTN
198
DELISTED
Raytheon Company
RTN
$214K 0.07%
1,634
+576
+54% +$114K
WM icon
199
Waste Management
WM
$89.7B
$212K 0.07%
+2,288
New +$262K
LRCX icon
200
Lam Research
LRCX
$385B
$210K 0.07%
8,770
-53,090
-86% -$1.53M
6 7
8
9 10

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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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CF
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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.