EM
Efficient Market Advisors, LLC Historical SEC 13F Holdings & Archive (Q1 2017)
Efficient Market Advisors, LLCCIK: 0001429788
Diversified strategySector-focusedContrarian
Total reported value
$726.7M
Reporting period: 2017-03-31 · Number of holdings: 49
Efficient Market Advisors, LLC disclosed 49 holdings in its latest 13F filing for the period ending 2017-03-31, with total reported value of $726.7M and a quarterly turnover rate of 24.3%.
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Personality snowflake
- Concentration
- 25.57
- Portfolio Stability
- 24.28
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 98
- Sizing Uniformity
- 85.25
Efficient Market Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.064 — mathematically equivalent to about 16 equally-sized positions, well below its 49 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.48), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 1% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim DBEU
-99.0% -$38.2M
Add IVV
+109.1% $6.5M
Add IGSB
+17.5% $10.8M
Trim SJNK
-4.9% -$1.2M
Trim 73936Q769
-3.2% -$1.1M
Add AMLPUSD
+16.2% $6.0M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | FLOT | Ishares Floating Rate Bond E | ETF-Other | 10.05% | +0.38% | +12.23% | |
| 2 | IGSB | Ishares 1-5y Inv Grade CORP | ETF-Other | 9.88% | +0.79% | +17.46% | |
| 3 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 9.75% | -0.19% | -1.15% | |
| 4 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 8.86% | -0.36% | -1.24% | |
| 5 | IFGL | Ishares International Develo | ETF-Other | 7.10% | +7.10% | NEW | |
| 6 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 6.62% | -0.13% | +2.57% | |
| 7 | AMLPUSD | Alerian Mlp ETF | ETF-Other | 5.64% | +0.43% | +16.20% | |
| 8 | ✓ | Powershares ETF Tr Ii | ETF-Other | 5.25% | +0.14% | +7.66% | |
| 9 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 4.34% | +0.27% | +4.14% | |
| 10 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 4.20% | -0.15% | +107.79% | |
| 11 | RINF | Proshares Inflation Expectat | ETF-Other | 4.08% | — | +9.26% | |
| 12 | SJNK | Ss Spdr Bb St Hi Yield ETF | ETF-Other | 4.00% | -0.51% | -4.85% | |
| 13 | ✓ | Powershares | Stock-Other | 3.94% | -0.49% | -3.24% | |
| 14 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 3.82% | +0.23% | +14.72% | |
| 15 | FNCL | Fidelity Msci Financial Indx | ETF-Other | 2.76% | -0.04% | +5.10% | |
| 16 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.64% | +0.83% | +109.11% | |
| 17 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 1.17% | -0.05% | -3.81% | |
| 18 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 0.74% | +0.01% | -3.08% | |
| 19 | PFF | Ishares Preferred & Income S | ETF-Other | 0.65% | -0.03% | +0.24% | |
| 20 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 0.45% | +0.02% | +5.17% | |
| 21 | SRLN | Ss Blackstone Sr Loan ETF | ETF-Other | 0.44% | -0.11% | -14.40% | |
| 22 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.44% | — | +2.59% | |
| 23 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 0.40% | +0.01% | +10.10% | |
| 24 | T | At&t Inc | Stock-Comm Services | 0.39% | +0.01% | +12.98% | |
| 25 | BND | Vanguard Total Bond Market | ETF-Other | 0.36% | +0.01% | +10.71% | |
| 26 | HYS | Pimco 0-5 Year H/y CORP Bond | ETF-Corp Bonds | 0.34% | -0.06% | -7.90% | |
| 27 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.32% | +0.04% | +17.97% | |
| 28 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 0.26% | -0.04% | -7.41% | |
| 29 | VV | Vanguard Large-cap ETF | ETF-Other | 0.26% | -0.03% | -7.64% | |
| 30 | SCHX | Schwab US Large-cap ETF | ETF-Other | 0.23% | -0.01% | +1.15% | |
| 31 | SCHM | Schwab US Mid Cap ETF | ETF-Other | 0.18% | -0.01% | -2.59% | |
| 32 | EFA | Ishares Msci Eafe ETF | ETF-Other | 0.16% | -0.02% | -6.78% | |
| 33 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.16% | — | — | |
| 34 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.16% | -0.01% | -4.50% | |
| 35 | FLTR | Vaneck Ig Floating Rate ETF | ETF-Other | 0.15% | -0.02% | -4.50% | |
| 36 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 0.14% | -0.03% | -12.86% | |
| 37 | FCF | First Commonwealth Finl CORP | Stock-Other | 0.11% | -0.01% | — | |
| 38 | SCHA | Schwab US Small-cap ETF | ETF-Other | 0.09% | -0.02% | -10.30% | |
| 39 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.08% | — | -3.38% | |
| 40 | VZ | Verizon Communications Inc | Stock-Comm Services | 0.06% | -0.02% | — | |
| 41 | VB | Vanguard Small-cap ETF | ETF-Other | 0.06% | -0.01% | -9.27% | |
| 42 | DBEU | Xtrackers Msci Europe Hedged | ETF-Other | 0.06% | -5.70% | -98.97% | |
| 43 | A | Agilent Technologies Inc | Stock-Healthcare | 0.05% | +0.01% | — | |
| 44 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.04% | -0.01% | — | |
| 45 | NTAP | Netapp Inc | Stock-Tech | 0.04% | — | — | |
| 46 | EIX | Edison International | Stock-Utilities | 0.03% | — | -1.10% | |
| 47 | HD | Home Depot Inc | Stock-Consumer Disc | 0.03% | +0.03% | NEW | |
| 48 | NCA | Nuveen California Muni Val | Stock-Other | 0.02% | — | — | |
| 49 | ARCPEUR | Vereit Inc | Stock-Other | 0.01% | — | — |
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2017 Q1 | 49 | $726.7M | 24 | ||
| 2016 Q4 | 50 | $670.9M | 33 | ||
| 2016 Q3 | 47 | $650.3M | 11 | ||
| 2016 Q2 | 45 | $609.9M | 18 | ||
| 2016 Q1 | 48 | $578.6M | 27 | ||
| 2015 Q4 | 171 | $465.9M | 25 | ||
| 2015 Q3 | 183 | $420.7M | 13 | ||
| 2015 Q2 | 148 | $431.4M | 15 | ||
| 2015 Q1 | 148 | $434.6M | 8 | ||
| 2014 Q4 | 170 | $408.4M | 25 | ||
| 2014 Q3 | 270 | $378.1M | 37 | ||
| 2014 Q2 | 136 | $394.0M | 13 | ||
| 2014 Q1 | 139 | $375.8M | 17 | ||
| 2013 Q4 | 156 | $338.2M | 37 | ||
| 2013 Q3 | 137 | $309.0M | 20 | ||
| 2013 Q2 | 117 | $275.0M | 0 |
Holding changes this quarter
Efficient Market Advisors, LLC's most significant position changes for 2017-03-31: New buy: Ishares International Develo (IFGL); Sold out: Ishares Currency Hedged Msci (HEZU); Sold out: First Trust Global Tactical (FTGC); Sold out: Apple Inc (AAPL); New buy: Home Depot Inc (HD).
Filing History
FAQ
What is Efficient Market Advisors, LLC and what type of investor is it?
Efficient Market Advisors, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2017-03-31), the firm manages a tracked equity portfolio valued at approximately $726.7M, spread across 49 disclosed positions.
What are Efficient Market Advisors, LLC's largest equity positions?
Based on the latest 13F filing, Efficient Market Advisors, LLC's top holdings by market value are:
1. Ishares Floating Rate Bond E (FLOT) — $73.0M (10.1%)
2. Ishares 1-5y Inv Grade CORP (IGSB) — $71.8M (9.9%)
3. Vanguard Ftse Developed ETF (VEA) — $70.9M (9.8%)
4. Vanguard S&p 500 ETF (VOO) — $64.4M (8.9%)
5. Ishares International Develo (IFGL) — $51.6M (7.1%)
What changes did Efficient Market Advisors, LLC make in its most recent portfolio filing?
In the latest reported quarter, Efficient Market Advisors, LLC made 44 notable position adjustments: 2 new positions were initiated, 19 existing holdings were added to, 20 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: Ishares International Develo (IFGL); Sold out: Ishares Currency Hedged Msci (HEZU); Sold out: First Trust Global Tactical (FTGC); Sold out: Apple Inc (AAPL); New buy: Home Depot Inc (HD)
What sectors does Efficient Market Advisors, LLC focus on?
Efficient Market Advisors, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 65.8%
• Consumer Discretionary: 27.7%
• Consumer Staples: 6.5%
Investment Profile
Efficient Market Advisors, LLC's portfolio is broadly diversified and moderately active, with 65.8% of the portfolio concentrated in Communication Services.
It has added to its AMLPUSD position over the past two quarters (+$23.2M, now $41.0M), while trimming DBEU over the same stretch (-$45.1M, still holding $426.0K).
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