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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
+7.3%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$613M
AUM Growth
+$44.8M
Cap. Flow
-$30.6M
Cap. Flow %
-4.99%
Top 10 Hldgs %
32.64%
Holding
423
New
98
Increased
241
Reduced
64
Closed
20

Top Buys

Rank Stock Value
1
PDBC icon
Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
PDBC
+$5.58M
2
MSFT icon
Microsoft
MSFT
+$3.23M
3
AAPL icon
Apple
AAPL
+$3.19M
4
AMZN icon
Amazon
AMZN
+$2.53M
5
UNH icon
UnitedHealth
UNH
+$1.55M

Top Sells

Rank Stock Value
1
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$10.2M
2
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$7.96M
3
GLD icon
SPDR Gold Trust
GLD
+$7.95M
4
URI icon
United Rentals
URI
+$4.67M
5
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$4.09M

Sector Composition

Rank Sector Weight
1 Technology 16.92%
2 Healthcare 11.66%
3 Consumer Discretionary 9.86%
4 Financials 8.78%
5 Communication Services 8.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRSH
176
Marsh
MRSH
$90.5B
$850K 0.14%
6,041
+856
+17% +$115K
COF icon
177
Capital One
COF
$128B
$849K 0.14%
5,487
+800
+17% +$121K
RS icon
178
Reliance Steel & Aluminium
RS
$20.7B
$845K 0.14%
5,598
-17,635
-76% -$2.86M
TGNA
179
DELISTED
TEGNA Inc
TGNA
$828K 0.14%
+44,139
New +$866K
WGO icon
180
Winnebago Industries
WGO
$856M
$828K 0.14%
+12,181
New +$899K
CL icon
181
Colgate-Palmolive
CL
$73.1B
$824K 0.13%
10,125
+1,440
+17% +$118K
BDX icon
182
Becton Dickinson
BDX
$45.6B
$822K 0.13%
3,467
+484
+16% +$116K
TKR icon
183
Timken Company
TKR
$9.56B
$822K 0.13%
10,194
-7,912
-44% -$670K
ILMN icon
184
Illumina
ILMN
$31B
$820K 0.13%
1,782
+260
+17% +$105K
CHKP icon
185
Check Point Software Technologies
CHKP
$13B
$812K 0.13%
+6,994
New +$825K
MOH icon
186
Molina Healthcare
MOH
$10.2B
$810K 0.13%
3,202
-2,465
-43% -$619K
NSC icon
187
Norfolk Southern
NSC
$75.4B
$810K 0.13%
3,052
+408
+15% +$113K
SHW icon
188
Sherwin-Williams
SHW
$82.7B
$802K 0.13%
2,944
+397
+16% +$109K
NSP icon
189
Insperity
NSP
$1.93B
$799K 0.13%
8,844
-6,102
-41% -$545K
TMUS icon
190
T-Mobile US
TMUS
$185B
$796K 0.13%
5,499
+1,039
+23% +$143K
CIEN icon
191
Ciena
CIEN
$53.4B
$778K 0.13%
13,676
-11,333
-45% -$625K
ITW icon
192
Illinois Tool Works
ITW
$82.6B
$772K 0.13%
3,455
+492
+17% +$113K
USNA icon
193
Usana Health Sciences
USNA
$408M
$765K 0.12%
7,469
-6,277
-46% -$630K
EW icon
194
Edwards Lifesciences
EW
$49.6B
$758K 0.12%
7,318
+1,010
+16% +$95.2K
ADI icon
195
Analog Devices
ADI
$179B
$753K 0.12%
4,376
+639
+17% +$102K
APD icon
196
Air Products & Chemicals
APD
$65.7B
$753K 0.12%
2,618
+391
+18% +$115K
SO icon
197
Southern Company
SO
$109B
$752K 0.12%
12,435
+1,822
+17% +$117K
HBI
198
DELISTED
Hanesbrands
HBI
$748K 0.12%
40,081
-180,781
-82% -$3.58M
ADSK icon
199
Autodesk
ADSK
$49.5B
$719K 0.12%
2,462
+378
+18% +$108K
SAGE
200
DELISTED
Sage Therapeutics
SAGE
$715K 0.12%
+12,589
New +$890K
6 7
8
9 10

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GS
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NAAA
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IVAV
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HJGA
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Empirical Finance's Q2 2021 Portfolio in Review

As of Q2 2021, Empirical Finance held 423 positions worth $613M, up 7.9% from $569M the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Empirical Finance withdrew a net $30.6M in Q2 2021, closing 20 positions and reducing 64 holdings. Its most notable exit was SPDR Gold Trust, an estimated $7.95M position sold in full.

By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 15% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Empirical Finance opened a new position in Tesla worth $1.4M.

  • Empirical Finance's largest Q2 2021 buy was Tesla: 6,189 shares worth $1.4M.
  • Empirical Finance added most to Invesco Actively Managed Exch-Traded Commodity Fd Tr Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF in Q2 2021, an estimated $5.58M increase.
  • Empirical Finance's biggest Q2 2021 reduction was Alpha Architect International Quantitative Momentum ETF, cutting an estimated $10.2M.
  • Empirical Finance fully exited SPDR Gold Trust in Q2 2021, selling an estimated $7.95M.
  • Empirical Finance's ten largest holdings make up 33% of its $613M portfolio in Q2 2021.
  • Empirical Finance opened 98 new positions and closed 20 in Q2 2021.
  • Empirical Finance's portfolio value rose 7.9% quarter-over-quarter to $613M.

Based on Empirical Finance's 13F filing for Q2 2021, filed 4 Aug 2021.