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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
IVAL icon
1
Alpha Architect International Quantitative Value ETF
IVAL
$218M
$39.5M 9.62%
1,341,368
-35,970
-3% -$1.03M
IMOM icon
2
Alpha Architect International Quantitative Momentum ETF
IMOM
$147M
$39.2M 9.53%
1,445,369
-16,688
-1% -$436K
QVAL icon
3
Alpha Architect US Quantitative Value ETF
QVAL
$589M
$38.6M 9.39%
1,269,929
-52,693
-4% -$1.56M
QMOM icon
4
Alpha Architect US Quantitative Momentum ETF
QMOM
$414M
$36.4M 8.85%
1,123,059
-45,268
-4% -$1.41M
AAVM
5
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
$25M
$25M 6.09%
1,004,373
-40,343
-4% -$983K
BIL icon
6
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
$14.3M 3.48%
156,607
+106,591
+213% +$9.75M
VTI icon
7
Vanguard Total Stock Market ETF
VTI
$653B
$9.82M 2.39%
60,032
-196
-0.3% -$30.7K
IEF icon
8
iShares 7-10 Year Treasury Bond ETF
IEF
$47.4B
$5.66M 1.38%
51,364
-1,524
-3% -$170K
AAPL icon
9
Apple
AAPL
$4.94T
$5.15M 1.25%
70,096
+23,280
+50% +$1.5M
QQQ icon
10
Invesco QQQ Trust
QQQ
$442B
$5.11M 1.24%
24,050
– –
VEU icon
11
Vanguard FTSE All-World ex-US ETF
VEU
$65.3B
$3.7M 0.9%
68,810
– –
IVV icon
12
iShares Core S&P 500 ETF
IVV
$868B
$3.34M 0.81%
10,341
-12,979
-56% -$4.02M
MSFT icon
13
Microsoft
MSFT
$2.92T
$3.13M 0.76%
19,857
+10,559
+114% +$1.55M
VNQ icon
14
Vanguard Real Estate ETF
VNQ
$40.2B
$3.02M 0.74%
32,600
-948
-3% -$87.8K
BBY icon
15
Best Buy
BBY
$19B
$2.88M 0.7%
32,855
-3,525
-10% -$270K
AMZN icon
16
Amazon
AMZN
$2.47T
$2.81M 0.68%
30,420
+11,440
+60% +$1.01M
PHM icon
17
Pultegroup
PHM
$25.7B
$2.65M 0.64%
68,242
-7,092
-9% -$276K
CMI icon
18
Cummins
CMI
$87.8B
$2.45M 0.6%
13,690
-1,440
-10% -$253K
BWA icon
19
BorgWarner
BWA
$12.8B
$2.41M 0.59%
63,046
-7,940
-11% -$291K
MAN icon
20
ManpowerGroup
MAN
$2.61B
$2.39M 0.58%
24,641
-3,077
-11% -$282K
RSP icon
21
Invesco S&P 500 Equal Weight ETF
RSP
$98B
$2.37M 0.58%
20,504
– –
TNL icon
22
Travel + Leisure Co
TNL
$4.71B
$2.35M 0.57%
45,381
-5,613
-11% -$269K
GILD icon
23
Gilead Sciences
GILD
$167B
$2.29M 0.56%
35,160
-2,251
-6% -$147K
IP icon
24
International Paper
IP
$23.6B
$2.28M 0.55%
52,336
-6,551
-11% -$275K
HPQ icon
25
HP
HPQ
$24.8B
$2.16M 0.53%
105,196
-12,123
-10% -$230K
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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GA
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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.