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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
+15.58%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$569M
AUM Growth
+$102M
Cap. Flow
+$36.4M
Cap. Flow %
6.4%
Top 10 Hldgs %
34.56%
Holding
334
New
47
Increased
226
Reduced
21
Closed
9

Top Buys

Rank Stock Value
1
VTI icon
Vanguard Total Stock Market ETF
VTI
+$7.27M
2
GLD icon
SPDR Gold Trust
GLD
+$3.68M
3
AAPL icon
Apple
AAPL
+$3.18M
4
MSFT icon
Microsoft
MSFT
+$2.89M
5
VXF icon
Vanguard Extended Market ETF
VXF
+$2.83M

Top Sells

Rank Stock Value
1
SHY icon
iShares 1-3 Year Treasury Bond ETF
SHY
+$10.7M
2
AAVM
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
+$5.2M
3
IVV icon
iShares Core S&P 500 ETF
IVV
+$2.51M
4
VWOB icon
Vanguard Emerging Markets Government Bond ETF
VWOB
+$2.41M
5
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$2.22M

Sector Composition

Rank Sector Weight
1 Technology 15.17%
2 Consumer Discretionary 12.01%
3 Healthcare 10.13%
4 Industrials 9.63%
5 Financials 6.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IMOM icon
1
Alpha Architect International Quantitative Momentum ETF
IMOM
$147M
$32.6M 5.74%
945,765
-72,216
-7% -$2.22M
IVAL icon
2
Alpha Architect International Quantitative Value ETF
IVAL
$218M
$26.3M 4.62%
958,899
-44,855
-4% -$1.16M
QMOM icon
3
Alpha Architect US Quantitative Momentum ETF
QMOM
$414M
$25.7M 4.52%
490,478
-37,167
-7% -$1.73M
QVAL icon
4
Alpha Architect US Quantitative Value ETF
QVAL
$589M
$23.8M 4.19%
850,866
-25,589
-3% -$680K
AAPL icon
5
Apple
AAPL
$4.93T
$22.6M 3.98%
170,560
+26,403
+18% +$3.18M
MSFT icon
6
Microsoft
MSFT
$2.92T
$15.2M 2.68%
68,507
+13,445
+24% +$2.89M
AAVM
7
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
$25M
$14.8M 2.59%
565,276
-211,830
-27% -$5.2M
AMZN icon
8
Amazon
AMZN
$2.47T
$13.8M 2.43%
85,020
+15,240
+22% +$2.43M
VTI icon
9
Vanguard Total Stock Market ETF
VTI
$653B
$13.7M 2.41%
70,336
+39,783
+130% +$7.27M
GLD icon
10
SPDR Gold Trust
GLD
$131B
$7.95M 1.4%
44,575
+20,872
+88% +$3.68M
META icon
11
Meta Platforms (Facebook)
META
$1.51T
$6.68M 1.17%
24,445
+4,229
+21% +$1.16M
QQQ icon
12
Invesco QQQ Trust
QQQ
$442B
$5.38M 0.95%
17,160
-1,963
-10% -$576K
GOOGL icon
13
Alphabet (Google) Class A
GOOGL
$4T
$5.34M 0.94%
60,960
+10,740
+21% +$903K
GOOG icon
14
Alphabet (Google) Class C
GOOG
$3.99T
$5.28M 0.93%
60,300
+10,420
+21% +$879K
VEA icon
15
Vanguard FTSE Developed Markets ETF
VEA
$225B
$5.14M 0.9%
108,838
+64,043
+143% +$2.82M
VWO icon
16
Vanguard FTSE Emerging Markets ETF
VWO
$118B
$5.06M 0.89%
100,913
+56,207
+126% +$2.64M
BRK.B icon
17
Berkshire Hathaway Class B
BRK.B
$1.1T
$4.65M 0.82%
20,046
+3,595
+22% +$792K
URI icon
18
United Rentals
URI
$70.7B
$4.28M 0.75%
18,450
+126
+0.7% +$26.6K
JNJ icon
19
Johnson & Johnson
JNJ
$656B
$4.25M 0.75%
26,992
+4,710
+21% +$695K
IEF icon
20
iShares 7-10 Year Treasury Bond ETF
IEF
$47.4B
$4.09M 0.72%
34,062
-8,926
-21% -$1.07M
JPM icon
21
JPMorgan Chase
JPM
$944B
$4.02M 0.71%
31,629
+5,320
+20% +$595K
ELV icon
22
Elevance Health
ELV
$80.4B
$3.84M 0.68%
11,964
+449
+4% +$138K
DHI icon
23
D.R. Horton
DHI
$42.1B
$3.61M 0.64%
52,421
+583
+1% +$42.5K
PG icon
24
Procter & Gamble
PG
$354B
$3.52M 0.62%
25,300
+4,426
+21% +$619K
UNH icon
25
UnitedHealth
UNH
$380B
$3.41M 0.6%
9,729
+1,697
+21% +$569K
1
2 3 4 5

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AAP
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BCM
Basswood Capital Management New York $2.12B AUM 19.53% 1-Year Est. Return
GS
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SC
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NAAA
New Age Alpha Advisors Rye, New York $2.15B AUM 27.2% 1-Year Est. Return
IVAV
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GA
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Empirical Finance's Q4 2020 Portfolio in Review

As of Q4 2020, Empirical Finance held 334 positions worth $569M, up 22% from $467M the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Empirical Finance deployed $36.4M of net new capital in Q4 2020, opening 47 new positions and adding to 226 existing holdings. Its largest new stake was Vanguard Extended Market ETF: 19,088 shares worth $3.14M.

By sector, the portfolio is most concentrated in Technology at 15% of assets, up from 14% a quarter earlier, followed by Consumer Discretionary and Healthcare.

On the sell side, the largest reduction was EA Series Trust Alpha Architect Global Factor Equity ETF, an estimated $5.2M trimmed.

  • Empirical Finance's largest Q4 2020 buy was Vanguard Extended Market ETF: 19,088 shares worth $3.14M.
  • Empirical Finance added most to Vanguard Total Stock Market ETF in Q4 2020, an estimated $7.27M increase.
  • Empirical Finance's biggest Q4 2020 reduction was EA Series Trust Alpha Architect Global Factor Equity ETF, cutting an estimated $5.2M.
  • Empirical Finance fully exited iShares 1-3 Year Treasury Bond ETF in Q4 2020, selling an estimated $10.7M.
  • Empirical Finance's ten largest holdings make up 35% of its $569M portfolio in Q4 2020.
  • Empirical Finance opened 47 new positions and closed 9 in Q4 2020.
  • Empirical Finance's portfolio value rose 22% quarter-over-quarter to $569M.

Based on Empirical Finance's 13F filing for Q4 2020, filed 2 Feb 2021.