Independent Portfolio Consultants, Inc. Buys Citigroup Inc, Lennar Corp, Bank of America Corporation, Sells ProShares Short MSCI EAFE, The Western Union Co, NVR Inc

• New Purchases: GM, GWB, MMI, FOX, VCSH, DCM, RGR, MPC, AGII, IVV,
• Added Positions: C, LEN, BAC, AGN, AMG, GS, EZU, UBSI, MS, GILD,
• Reduced Positions: WU, PM, TKR, CLH, CNC, BR, DAR, MUSA, OGE, COHR,
• Sold Out: EFZ, NVR, CBI, URI, F, CFNL, TGT, ESRX, NATI, NTTYY,

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

1. Apple Inc (AAPL) - 37,545 shares, 2.27% of the total portfolio. Shares reduced by 7.24%
2. Amazon.com Inc (AMZN) - 4,550 shares, 1.85% of the total portfolio. Shares reduced by 10.29%
3. Facebook Inc (FB) - 22,983 shares, 1.46% of the total portfolio. Shares reduced by 18.96%
4. JPMorgan Chase & Co (JPM) - 36,229 shares, 1.39% of the total portfolio. Shares added by 0.81%
5. Citigroup Inc (C) - 47,749 shares, 1.34% of the total portfolio. Shares added by 95.08%

Independent Portfolio Consultants, Inc. initiated holdings in General Motors Co. The purchase prices were between $32.42 and $35.36, with an estimated average price of $33.96. The stock is now traded at around $34.95. The impact to the portfolio due to this purchase was 0.31%. The holdings were 20,912 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. initiated holdings in Great Western Bancorp Inc. The purchase prices were between $36.88 and $44.84, with an estimated average price of $40.35. The stock is now traded at around $41.45. The impact to the portfolio due to this purchase was 0.28%. The holdings were 16,115 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. initiated holdings in Marcus & Millichap Inc. The purchase prices were between $23.5 and $26.25, with an estimated average price of $25.08. The stock is now traded at around $26.54. The impact to the portfolio due to this purchase was 0.28%. The holdings were 24,882 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. initiated holdings in Twenty-First Century Fox Inc. The purchase prices were between $26.53 and $31.78, with an estimated average price of $28.42. The stock is now traded at around $27.69. The impact to the portfolio due to this purchase was 0.27%. The holdings were 23,367 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. initiated holdings in Vanguard Short-Term Corporate Bond ETF. The purchase prices were between $79.61 and $80.15, with an estimated average price of $79.94. The stock is now traded at around $79.79. The impact to the portfolio due to this purchase was 0.21%. The holdings were 6,127 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. initiated holdings in NTT DOCOMO Inc. The purchase prices were between $23.19 and $24.85, with an estimated average price of $24.21. The stock is now traded at around $23.35. The impact to the portfolio due to this purchase was 0.2%. The holdings were 20,366 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. added to the holdings in Citigroup Inc by 95.08%. The purchase prices were between $57.72 and $66.98, with an estimated average price of $61.22. The stock is now traded at around $68.57. The impact to the portfolio due to this purchase was 0.65%. The holdings were 47,749 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. added to the holdings in Lennar Corp by 89.82%. The purchase prices were between $49.73 and $53.93, with an estimated average price of $51.66. The stock is now traded at around $51.85. The impact to the portfolio due to this purchase was 0.61%. The holdings were 57,374 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. added to the holdings in Bank of America Corporation by 57.31%. The purchase prices were between $22.23 and $24.32, with an estimated average price of $23.31. The stock is now traded at around $25.05. The impact to the portfolio due to this purchase was 0.45%. The holdings were 120,829 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. added to the holdings in Allergan PLC by 263.25%. The purchase prices were between $218.73 and $248.91, with an estimated average price of $234.92. The stock is now traded at around $242.66. The impact to the portfolio due to this purchase was 0.44%. The holdings were 5,961 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. added to the holdings in Goldman Sachs Group Inc by 43.13%. The purchase prices were between $211.26 and $229.72, with an estimated average price of $222.32. The stock is now traded at around $228.12. The impact to the portfolio due to this purchase was 0.38%. The holdings were 13,413 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. added to the holdings in Affiliated Managers Group Inc by 105.06%. The purchase prices were between $149.51 and $166.45, with an estimated average price of $159.61. The stock is now traded at around $169.80. The impact to the portfolio due to this purchase was 0.38%. The holdings were 10,694 shares as of 2017-06-30.

Independent Portfolio Consultants, Inc. sold out the holdings in ProShares Short MSCI EAFE. The sale prices were between $27.31 and $29.93, with an estimated average price of $28.37.

Independent Portfolio Consultants, Inc. sold out the holdings in NVR Inc. The sale prices were between $2065.08 and $2488.59, with an estimated average price of $2249.52.

Independent Portfolio Consultants, Inc. sold out the holdings in Chicago Bridge & Iron Co NV. The sale prices were between $13.15 and $31.31, with an estimated average price of $23.37.

Independent Portfolio Consultants, Inc. sold out the holdings in United Rentals Inc. The sale prices were between $101.62 and $125.96, with an estimated average price of $111.96.

Independent Portfolio Consultants, Inc. sold out the holdings in Ford Motor Co. The sale prices were between $10.76 and $11.64, with an estimated average price of $11.17.

Independent Portfolio Consultants, Inc. sold out the holdings in Cardinal Financial Corp. The sale prices were between $27.39 and $29.94, with an estimated average price of $28.75.