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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
+9.59%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$966M
AUM Growth
+$123M
Cap. Flow
+$60.3M
Cap. Flow %
6.24%
Top 10 Hldgs %
26%
Holding
507
New
27
Increased
444
Reduced
17
Closed
14

Top Buys

Rank Stock Value
1
SHV icon
iShares 0-1 Year Treasury Bond ETF
SHV
+$6.37M
2
AAPL icon
Apple
AAPL
+$4.07M
3
MSFT icon
Microsoft
MSFT
+$3.76M
4
HIDE icon
Alpha Architect High Inflation and Deflation ETF
HIDE
+$3.62M
5
NTSX icon
WisdomTree US Efficient Core Fund
NTSX
+$2.13M

Top Sells

Rank Stock Value
1
VTIP icon
Vanguard Short-Term Inflation-Protected Securities Index Fund
VTIP
+$5.46M
2
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$2.06M
3
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$1.9M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$1.84M
5
AAVM
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
+$1.2M

Sector Composition

Rank Sector Weight
1 Technology 19.81%
2 Healthcare 13.66%
3 Financials 11.12%
4 Consumer Discretionary 8.39%
5 Industrials 7.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.94T
$53.8M 5.57%
414,056
+28,507
+7% +$4.07M
MSFT icon
2
Microsoft
MSFT
$2.92T
$45.9M 4.75%
191,456
+15,654
+9% +$3.76M
QVAL icon
3
Alpha Architect US Quantitative Value ETF
QVAL
$589M
$29.5M 3.05%
916,861
-6,658
-0.7% -$223K
IVAL icon
4
Alpha Architect International Quantitative Value ETF
IVAL
$218M
$22.4M 2.32%
1,023,378
-12,045
-1% -$275K
QMOM icon
5
Alpha Architect US Quantitative Momentum ETF
QMOM
$414M
$21.8M 2.26%
474,271
-16,090
-3% -$783K
AMZN icon
6
Amazon
AMZN
$2.47T
$19.3M 2%
229,986
+20,691
+10% +$2.04M
IMOM icon
7
Alpha Architect International Quantitative Momentum ETF
IMOM
$147M
$16.1M 1.67%
648,493
-10,206
-2% -$257K
BRK.B icon
8
Berkshire Hathaway Class B
BRK.B
$1.1T
$15.1M 1.57%
49,044
+3,456
+8% +$1.03M
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$3.99T
$14M 1.45%
158,353
+12,363
+8% +$1.17M
UNH icon
10
UnitedHealth
UNH
$380B
$13.1M 1.36%
24,786
+1,907
+8% +$1.01M
GOOG icon
11
Alphabet (Google) Class C
GOOG
$3.99T
$13.1M 1.36%
147,571
+9,910
+7% +$946K
XOM icon
12
ExxonMobil
XOM
$645B
$12.9M 1.34%
117,403
+8,325
+8% +$892K
SHV icon
13
iShares 0-1 Year Treasury Bond ETF
SHV
$20.8B
$12.9M 1.33%
117,013
+57,996
+98% +$6.37M
JNJ icon
14
Johnson & Johnson
JNJ
$656B
$12.3M 1.27%
69,363
+5,307
+8% +$916K
VTI icon
15
Vanguard Total Stock Market ETF
VTI
$653B
$11.7M 1.21%
61,267
-6,086
-9% -$1.17M
JPM icon
16
JPMorgan Chase
JPM
$944B
$10.6M 1.1%
79,131
+5,981
+8% +$758K
AAVM
17
EA Series Trust Alpha Architect Global Factor Equity ETF
AAVM
$25M
$10.5M 1.09%
430,838
-47,004
-10% -$1.2M
PG icon
18
Procter & Gamble
PG
$354B
$9.71M 1.01%
64,065
+4,713
+8% +$661K
NVDA icon
19
NVIDIA
NVDA
$4.72T
$9.48M 0.98%
648,630
+53,180
+9% +$780K
CVX icon
20
Chevron
CVX
$381B
$8.93M 0.92%
49,761
+2,714
+6% +$474K
HD icon
21
Home Depot
HD
$345B
$8.86M 0.92%
28,035
+2,022
+8% +$616K
MA icon
22
Mastercard
MA
$493B
$8M 0.83%
22,992
+1,696
+8% +$558K
LLY icon
23
Eli Lilly
LLY
$1.09T
$7.7M 0.8%
21,035
+1,544
+8% +$547K
PFE icon
24
Pfizer
PFE
$144B
$7.56M 0.78%
147,554
+11,464
+8% +$550K
META icon
25
Meta Platforms (Facebook)
META
$1.51T
$7.5M 0.78%
62,299
+4,988
+9% +$586K
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 Q4 2022 Portfolio in Review

As of Q4 2022, Empirical Finance held 507 positions worth $966M, up 15% from $843M the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Empirical Finance deployed $60.3M of net new capital in Q4 2022, opening 27 new positions and adding to 444 existing holdings. Its largest new stake was Alpha Architect High Inflation and Deflation ETF: 146,138 shares worth $3.42M.

By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 20% a quarter earlier, followed by Healthcare and Financials.

On the sell side, the largest reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, an estimated $2.06M trimmed.

  • Empirical Finance's largest Q4 2022 buy was Alpha Architect High Inflation and Deflation ETF: 146,138 shares worth $3.42M.
  • Empirical Finance added most to iShares 0-1 Year Treasury Bond ETF in Q4 2022, an estimated $6.37M increase.
  • Empirical Finance's biggest Q4 2022 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $2.06M.
  • Empirical Finance fully exited Vanguard Short-Term Inflation-Protected Securities Index Fund in Q4 2022, selling an estimated $5.46M.
  • Empirical Finance's ten largest holdings make up 26% of its $966M portfolio in Q4 2022.
  • Empirical Finance opened 27 new positions and closed 14 in Q4 2022.
  • Empirical Finance's portfolio value rose 15% quarter-over-quarter to $966M.

Based on Empirical Finance's 13F filing for Q4 2022, filed 24 Jan 2023.