TrueNorth, Inc. Buys Dollar General, Seaboard, iShares Core S&P 500, Sells ConocoPhillips, Ophthotech, iShares Russell 2000

• New Purchases: DG, SEB, ATI, PEY, SCHZ, CYBR, PBI, MYL, SCHX, IP,
• Added Positions: IVV, SCHB, SCHD, DIS, DEF, GILD, INTC,
• Reduced Positions: IWV, CBM, T, AMJ, VHT, AAPL, RYT, QCOM, FXO, HD,
• Sold Out: COP, OPHT, IWM, WFC, ICF, CAH, HES, ANTM, GSK, IWF,

For the details of TrueNorth, Inc.'s stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=TrueNorth%2C+Inc.

1. Schwab U.S. Large-Cap Value (SCHV) - 129,359 shares, 4.52% of the total portfolio. Shares reduced by 5.37%
2. The Home Depot Inc (HD) - 31,774 shares, 3.09% of the total portfolio. Shares reduced by 9.53%
3. Cambrex Corp (CBM) - 78,605 shares, 3.08% of the total portfolio. Shares reduced by 27.22%
4. Facebook Inc (FB) - 35,896 shares, 3% of the total portfolio. Shares reduced by 6.58%
5. JPMorgan Chase Capital XVI JP Morgan Alerian MLP E (AMJ) - 117,089 shares, 2.69% of the total portfolio. Shares reduced by 15.82%

TrueNorth, Inc. initiated holdings in Dollar General Corp. The purchase prices were between $66.97 and $80.06, with an estimated average price of $73.01. The stock is now traded at around $70.62. The impact to the portfolio due to this purchase was 2.01%. The holdings were 37,449 shares as of 2016-12-31.

TrueNorth, Inc. initiated holdings in Seaboard Corp. The purchase prices were between $3201.95 and $4444.14, with an estimated average price of $3779.95. The stock is now traded at around $3933.00. The impact to the portfolio due to this purchase was 1.58%. The holdings were 550 shares as of 2016-12-31.

TrueNorth, Inc. initiated holdings in Allegheny Technologies Inc. The purchase prices were between $13.16 and $18.94, with an estimated average price of $16.62. The stock is now traded at around $17.83. The impact to the portfolio due to this purchase was 1.02%. The holdings were 88,104 shares as of 2016-12-31.

TrueNorth, Inc. initiated holdings in PowerShares High Yield Equity Dividend Achievers P. The purchase prices were between $15.22 and $17.23, with an estimated average price of $16.17. The stock is now traded at around $17.05. The impact to the portfolio due to this purchase was 0.93%. The holdings were 75,370 shares as of 2016-12-31.

TrueNorth, Inc. initiated holdings in Schwab US Aggregate Bond. The purchase prices were between $51.18 and $53.5, with an estimated average price of $52.27. The stock is now traded at around $51.74. The impact to the portfolio due to this purchase was 0.79%. The holdings were 21,094 shares as of 2016-12-31.

TrueNorth, Inc. initiated holdings in CyberArk Software Ltd. The purchase prices were between $44.94 and $55.01, with an estimated average price of $48.77. The stock is now traded at around $51.17. The impact to the portfolio due to this purchase was 0.75%. The holdings were 22,844 shares as of 2016-12-31.

TrueNorth, Inc. added to the holdings in iShares Core S&P 500 by 130.42%. The purchase prices were between $209.67 and $229.05, with an estimated average price of $219.92. The stock is now traded at around $237.36. The impact to the portfolio due to this purchase was 1.33%. The holdings were 14,406 shares as of 2016-12-31.

TrueNorth, Inc. added to the holdings in Schwab U.S. Broad Market by 40.34%. The purchase prices were between $50.22 and $55.21, with an estimated average price of $52.9. The stock is now traded at around $57.10. The impact to the portfolio due to this purchase was 0.72%. The holdings were 63,476 shares as of 2016-12-31.

TrueNorth, Inc. added to the holdings in Schwab US Dividend Equity by 64.40%. The purchase prices were between $40.94 and $44.53, with an estimated average price of $42.62. The stock is now traded at around $44.61. The impact to the portfolio due to this purchase was 0.36%. The holdings were 29,350 shares as of 2016-12-31.

TrueNorth, Inc. added to the holdings in Walt Disney Co by 82.19%. The purchase prices were between $90.83 and $105.56, with an estimated average price of $97.5. The stock is now traded at around $112.85. The impact to the portfolio due to this purchase was 0.33%. The holdings were 9,813 shares as of 2016-12-31.

TrueNorth, Inc. added to the holdings in Gilead Sciences Inc by 63.59%. The purchase prices were between $71.61 and $78.47, with an estimated average price of $74.33. The stock is now traded at around $67.54. The impact to the portfolio due to this purchase was 0.19%. The holdings were 9,187 shares as of 2016-12-31.

TrueNorth, Inc. sold out the holdings in ConocoPhillips. The sale prices were between $40.65 and $52.64, with an estimated average price of $46.11.

TrueNorth, Inc. sold out the holdings in Ophthotech Corp. The sale prices were between $4.82 and $45.3, with an estimated average price of $29.68.

TrueNorth, Inc. sold out the holdings in iShares Russell 2000. The sale prices were between $115 and $138.31, with an estimated average price of $128.01.

TrueNorth, Inc. sold out the holdings in Wells Fargo & Co. The sale prices were between $43.75 and $57.29, with an estimated average price of $50.28.

TrueNorth, Inc. sold out the holdings in iShares Cohen & Steers REIT. The sale prices were between $94.58 and $102.71, with an estimated average price of $98.11.

TrueNorth, Inc. sold out the holdings in Cardinal Health Inc. The sale prices were between $65.17 and $76.71, with an estimated average price of $72.29.

TrueNorth, Inc. reduced to the holdings in iShares Russell 3000 by 45.7%. The sale prices were between $123.07 and $135.5, with an estimated average price of $129.73. The stock is now traded at around $140.01. The impact to the portfolio due to this sale was -1.06%. TrueNorth, Inc. still held 14,352 shares as of 2016-12-31.

TrueNorth, Inc. reduced to the holdings in Cambrex Corp by 27.22%. The sale prices were between $38.85 and $54.85, with an estimated average price of $48. The stock is now traded at around $52.65. The impact to the portfolio due to this sale was -0.9%. TrueNorth, Inc. still held 78,605 shares as of 2016-12-31.

TrueNorth, Inc. reduced to the holdings in AT&T Inc by 29.32%. The sale prices were between $36.13 and $42.73, with an estimated average price of $39.07. The stock is now traded at around $41.62. The impact to the portfolio due to this sale was -0.55%. TrueNorth, Inc. still held 47,539 shares as of 2016-12-31.

TrueNorth, Inc. reduced to the holdings in Apple Inc by 28.71%. The sale prices were between $105.71 and $118.25, with an estimated average price of $113.4. The stock is now traded at around $143.53. The impact to the portfolio due to this sale was -0.42%. TrueNorth, Inc. still held 13,273 shares as of 2016-12-31.

TrueNorth, Inc. reduced to the holdings in Qualcomm Inc by 39.33%. The sale prices were between $64.16 and $70.09, with an estimated average price of $67.18. The stock is now traded at around $57.32. The impact to the portfolio due to this sale was -0.32%. TrueNorth, Inc. still held 10,502 shares as of 2016-12-31.

TrueNorth, Inc. reduced to the holdings in Bank of America Corporation by 49.37%. The sale prices were between $15.63 and $23.16, with an estimated average price of $19.26. The stock is now traded at around $23.73. The impact to the portfolio due to this sale was -0.26%. TrueNorth, Inc. still held 25,145 shares as of 2016-12-31.