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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
+11.75%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$1.43B
AUM Growth
+$72.6M
Cap. Flow
-$67.2M
Cap. Flow %
-4.68%
Top 10 Hldgs %
30.02%
Holding
534
New
24
Increased
339
Reduced
115
Closed
21

Top Buys

Rank Stock Value
1
BOXX icon
Alpha Architect 1-3 Month Box ETF
BOXX
+$1.66M
2
MSFT icon
Microsoft
MSFT
+$629K
3
VLTO icon
Veralto
VLTO
+$565K
4
PHM icon
Pultegroup
PHM
+$563K
5
DHI icon
D.R. Horton
DHI
+$536K

Top Sells

Rank Stock Value
1
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$26.9M
2
IMOM icon
Alpha Architect International Quantitative Momentum ETF
IMOM
+$10.1M
3
QMOM icon
Alpha Architect US Quantitative Momentum ETF
QMOM
+$8.98M
4
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$8.6M
5
QVAL icon
Alpha Architect US Quantitative Value ETF
QVAL
+$8.25M

Sector Composition

Rank Sector Weight
1 Technology 27.37%
2 Healthcare 12.03%
3 Financials 10.77%
4 Consumer Discretionary 10.06%
5 Communication Services 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.94T
$102M 7.11%
529,815
+1,298
+0.2% +$240K
MSFT icon
2
Microsoft
MSFT
$2.92T
$95.2M 6.64%
253,152
+1,766
+0.7% +$629K
AMZN icon
3
Amazon
AMZN
$2.47T
$46.7M 3.26%
307,534
+2,651
+0.9% +$372K
NVDA icon
4
NVIDIA
NVDA
$4.72T
$42.2M 2.94%
852,420
+7,280
+0.9% +$337K
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4T
$29M 2.02%
207,390
+997
+0.5% +$134K
META icon
6
Meta Platforms (Facebook)
META
$1.51T
$28.1M 1.96%
79,346
+213
+0.3% +$69.4K
GOOG icon
7
Alphabet (Google) Class C
GOOG
$3.99T
$26M 1.81%
184,350
-540
-0.3% -$73.3K
QVAL icon
8
Alpha Architect US Quantitative Value ETF
QVAL
$589M
$24.4M 1.7%
603,767
-220,385
-27% -$8.25M
TSLA icon
9
Tesla
TSLA
$1.2T
$18.6M 1.3%
74,835
+1,322
+2% +$314K
IVAL icon
10
Alpha Architect International Quantitative Value ETF
IVAL
$218M
$18.3M 1.28%
731,889
-364,995
-33% -$8.6M
BRK.B icon
11
Berkshire Hathaway Class B
BRK.B
$1.1T
$17.6M 1.23%
49,436
-735
-1% -$258K
JPM icon
12
JPMorgan Chase
JPM
$944B
$17.5M 1.22%
102,877
+520
+0.5% +$78.8K
UNH icon
13
UnitedHealth
UNH
$380B
$17.1M 1.19%
32,475
+133
+0.4% +$70.9K
LLY icon
14
Eli Lilly
LLY
$1.09T
$16.2M 1.13%
27,712
+174
+0.6% +$102K
AVGO icon
15
Broadcom
AVGO
$1.8T
$15.9M 1.11%
142,000
+1,710
+1% +$162K
XOM icon
16
ExxonMobil
XOM
$645B
$14.8M 1.03%
147,812
-1,113
-0.7% -$117K
JNJ icon
17
Johnson & Johnson
JNJ
$656B
$13.9M 0.97%
88,847
-204
-0.2% -$31.3K
VTI icon
18
Vanguard Total Stock Market ETF
VTI
$653B
$13.3M 0.93%
56,024
-4,619
-8% -$1.02M
MA icon
19
Mastercard
MA
$493B
$12.6M 0.88%
29,633
+98
+0.3% +$39.4K
HD icon
20
Home Depot
HD
$346B
$12.5M 0.87%
35,932
-37
-0.1% -$11.5K
PG icon
21
Procter & Gamble
PG
$354B
$12.3M 0.85%
83,650
+508
+0.6% +$75.2K
V icon
22
Visa
V
$694B
$11.4M 0.8%
43,810
+742
+2% +$183K
QMOM icon
23
Alpha Architect US Quantitative Momentum ETF
QMOM
$414M
$10.3M 0.72%
207,336
-198,455
-49% -$8.98M
COST icon
24
Costco
COST
$435B
$10.2M 0.71%
15,427
+45
+0.3% +$26.7K
MRK icon
25
Merck
MRK
$331B
$9.69M 0.68%
88,862
+588
+0.7% +$61K
1
2 3 4 5

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GHA
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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
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IVAV
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GA
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Empirical Finance's Q4 2023 Portfolio in Review

As of Q4 2023, Empirical Finance held 534 positions worth $1.43B, up 5.3% from $1.36B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Empirical Finance withdrew a net $67.2M in Q4 2023, closing 21 positions and reducing 115 holdings. Its most notable exit was iShares 0-3 Month Treasury Bond ETF, an estimated $26.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 25% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Empirical Finance opened a new position in Veralto worth $622K.

  • Empirical Finance's largest Q4 2023 buy was Veralto: 7,563 shares worth $622K.
  • Empirical Finance added most to Alpha Architect 1-3 Month Box ETF in Q4 2023, an estimated $1.66M increase.
  • Empirical Finance's biggest Q4 2023 reduction was Alpha Architect International Quantitative Momentum ETF, cutting an estimated $10.1M.
  • Empirical Finance fully exited iShares 0-3 Month Treasury Bond ETF in Q4 2023, selling an estimated $26.9M.
  • Empirical Finance's ten largest holdings make up 30% of its $1.43B portfolio in Q4 2023.
  • Empirical Finance opened 24 new positions and closed 21 in Q4 2023.
  • Empirical Finance's portfolio value rose 5.3% quarter-over-quarter to $1.43B.

Based on Empirical Finance's 13F filing for Q4 2023, filed 14 Feb 2024.