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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
+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
IMOM icon
1
Alpha Architect International Quantitative Momentum ETF
IMOM
$152M
$38.6M 10.58%
1,471,879
-67,698
-4% -$1.75M
QVAL icon
2
Alpha Architect US Quantitative Value ETF
QVAL
$582M
$37.4M 10.26%
1,334,916
-122,512
-8% -$3.49M
IVAL icon
3
Alpha Architect International Quantitative Value ETF
IVAL
$217M
$37.4M 10.25%
1,388,608
+11,681
+0.8% +$323K
QMOM icon
4
Alpha Architect US Quantitative Momentum ETF
QMOM
$425M
$37.3M 10.22%
1,188,997
-262,566
-18% -$7.95M
AAVM
5
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
$25.1M
$25M 6.86%
1,048,712
-181,166
-15% -$4.42M
VTI icon
6
Vanguard Total Stock Market ETF
VTI
$655B
$9.01M 2.47%
60,010
+5,484
+10% +$808K
IEF icon
7
iShares 7-10 Year Treasury Bond ETF
IEF
$47.3B
$6.59M 1.81%
59,922
-6,371
-10% -$683K
IVV icon
8
iShares Core S&P 500 ETF
IVV
$869B
$5.94M 1.63%
20,152
+239
+1% +$69.3K
BIL icon
9
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
$5.01M 1.37%
54,714
+6,019
+12% +$551K
QQQ icon
10
Invesco QQQ Trust
QQQ
$449B
$4.49M 1.23%
24,050
-16
-0.1% -$2.94K
VNQ icon
11
Vanguard Real Estate ETF
VNQ
$39.8B
$3.7M 1.01%
42,370
-5,565
-12% -$487K
VEU icon
12
Vanguard FTSE All-World ex-US ETF
VEU
$65.9B
$3.51M 0.96%
68,810
+4,418
+7% +$223K
CMI icon
13
Cummins
CMI
$91.3B
$3.04M 0.83%
17,726
+148
+0.8% +$24.2K
HRB icon
14
H&R Block
HRB
$5.37B
$2.93M 0.8%
99,931
+861
+0.9% +$23.1K
TECD
15
DELISTED
Tech Data Corp
TECD
$2.9M 0.8%
27,770
+251
+0.9% +$25.5K
PHM icon
16
Pultegroup
PHM
$24.9B
$2.9M 0.79%
91,721
+791
+0.9% +$24.7K
MAN icon
17
ManpowerGroup
MAN
$2.5B
$2.82M 0.77%
29,236
+252
+0.9% +$23K
KLAC icon
18
KLA
KLAC
$266B
$2.82M 0.77%
238,390
+2,010
+0.9% +$23.2K
WU icon
19
Western Union
WU
$2.55B
$2.73M 0.75%
137,050
+1,179
+0.9% +$23K
VIAB
20
DELISTED
Viacom Inc. Class B
VIAB
$2.59M 0.71%
86,807
+754
+0.9% +$22K
GILD icon
21
Gilead Sciences
GILD
$162B
$2.57M 0.71%
38,089
+247
+0.7% +$16.2K
BBY icon
22
Best Buy
BBY
$18.6B
$2.56M 0.7%
36,727
+293
+0.8% +$20.4K
STX icon
23
Seagate
STX
$185B
$2.51M 0.69%
53,296
+464
+0.9% +$21.6K
BWA icon
24
BorgWarner
BWA
$13.1B
$2.5M 0.69%
67,799
+571
+0.8% +$20.2K
DKS icon
25
Dick's Sporting Goods
DKS
$18.4B
$2.32M 0.64%
66,946
+583
+0.9% +$21.3K
1
2 3 4 5

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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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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.