Empirical Finance, LLC Buys Schwab Intermediate-Term U.S. Treasury, iShares Core S&P 500, iShares 7-10 Year Treasury Bond ETF, Sells Schwab U.S. Large-Cap, SPDR Bloomberg Barclays 1-3 Month T-Bill, SPDR S&P 500

Investment company Empirical Finance, LLC buys Schwab Intermediate-Term U.S. Treasury, iShares Core S&P 500, iShares 7-10 Year Treasury Bond ETF, Cigna Corp, Micron Technology Inc, Coherent Inc, EMCOR Group Inc, Bed Bath & Beyond Inc, Lam Research Corp, International Paper Co, PulteGroup Inc, Vanguard FTSE Pacific, Cal-Maine Foods Inc, Tech Data Corp, ManpowerGroup Inc, Vanguard FTSEEuropean, United Therapeutics Corp, Vanguard FTSE All-Wld ex-US SmCp Idx, The Western Union Co, BorgWarner Inc, LyondellBasell Industries NV, Thor Industries Inc, The Interpublic Group of Inc, Viacom Inc, SPDR Gold Trust, Korn Ferry, Lear Corp, Wyndham Destinations Inc, AMC Networks Inc, Deluxe Corp, Tenneco Inc, Microsoft Corp, Amazon.com Inc, Philip Morris International Inc, Union Pacific Corp, Adobe Inc, Eli Lilly and Co, Salesforce.com Inc, Invesco Emerging Markets Sovereign Debt, Honeywell International Inc, PayPal Holdings Inc, Starbucks Corp, United Technologies Corp, Thermo Fisher Scientific Inc, Texas Instruments Inc, Altria Group Inc, Costco Wholesale Corp, Nike Inc, Lowe's Inc, Facebook Inc, NextEra Energy Inc, Berkshire Hathaway Inc, Broadcom Inc, Alphabet Inc, JPMorgan Chase, Johnson & Johnson, Alphabet Inc, The Walt Disney Co, HollyFrontier Corp, Cisco Systems Inc, Verizon Communications Inc, Chevron Corp, Procter & Gamble Co, Bank of America Corporation, UnitedHealth Group Inc, Pfizer Inc, Intel Corp, Merck Inc, Boeing Co, Schwab Short-Term U.S. Treasury, Comcast Corp, The Home Depot Inc, Wells Fargo, AT&T Inc, Mastercard Inc, Netflix Inc, PepsiCo Inc, Abbott Laboratories, AbbVie Inc, Oracle Corp, Citigroup Inc, Coca-Cola Co, Walmart Inc, 3M Co, DowDuPont Inc, General Electric Co, sells Schwab U.S. Large-Cap, SPDR Bloomberg Barclays 1-3 Month T-Bill, SPDR S&P 500, Cigna Corp, Herbalife Nutrition, American Eagle Outfitters Inc, EnerSys, JPMorgan Ultra-Short Income, Amgen Inc, Williams-Sonoma Inc, Discovery Inc, Juniper Networks Inc, Gentex Corp, Nordstrom Inc, AutoZone Inc, Apple Inc, Vanguard Total International Bond ETF, Oshkosh Corp, iShares 1-3 Year Treasury Bond ETF, Macy's Inc, MKS Instruments Inc, Cleveland-Cliffs Inc, Kohl's Corp, Urban Outfitters Inc, Taro Pharmaceutical Industries, Vanguard Emerging Markets Government Bond ETF, SPDR Bloomberg Barclays High Yield Bond during the 3-months ended 2019Q1, according to the most recent filings of the investment company, Empirical Finance, LLC. As of 2019Q1, Empirical Finance, LLC owns 156 stocks with a total value of $277 million. These are the details of the buys and sells.

• New Purchases: SCHR, CI, MU, COHR, EME, BBBY, LRCX, VPL, IP, CALM, VGK, THO, VSS, UTHR, GLD, IPG, KFY, WYND, DLX, TEN, PM, UNP, ADBE, LLY, CRM, PCY, PYPL, HON, MO, COST, TXN, NKE, UTX, SBUX, TMO, LOW, NEE, AVGO,
• Added Positions: IVV, IEF, QVAL, PHM, MAN, TECD, LYB, BWA, WU, VIAB, AMCX, LEA, IVAL, MSFT, AMZN, FB, BRK.B, DIS, XOM, JNJ, GOOG, JPM, GOOGL, HFC, VTI, PG, PFE, STX, UNH, VZ, WLK, BAC, CSCO, INTC, CVX, SBH, MA, WFC, DBI, BA, CMCSA, T, GILD, HD, SCHO, MRK, ABT, ALSN, VEU, C, ABBV, ORCL, IBM, GPS, PEP, WMT, CMI, KO, NFLX, DWDP, CAT, GE, MMM, LUV, GM, DAL,
• Reduced Positions: BIL, AMGN, AAPL, M, CLF, KSS, URBN, TARO, HRB, HPQ, IDCC, VNQ, DKS, BBY, MTUM,
• Sold Out: SCHX, SPY, CGN, HLF, AEO, ENS, JPST, WSM, JNPR, DISCA, GNTX, JWN, AZO, BNDX, OSK, SHY, MKSI, VWOB, JNK,

For the details of Empirical Finance, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/empirical+finance%2C+llc/current-portfolio/portfolio

These are the top 5 holdings of Empirical Finance, LLC

1. Alpha Architect U.S. Quantitative Value (QVAL) - 1,457,428 shares, 15.07% of the total portfolio. Shares added by 2.72%
2. Alpha Architect International Quantitative Value (IVAL) - 1,376,927 shares, 13.93% of the total portfolio. Shares added by 2.28%
3. Vanguard Total Stock Market (VTI) - 54,526 shares, 2.84% of the total portfolio. Shares added by 2.02%
4. iShares 7-10 Year Treasury Bond ETF (IEF) - 66,293 shares, 2.55% of the total portfolio. Shares added by 71.75%
5. iShares Core S&P 500 (IVV) - 19,913 shares, 2.04% of the total portfolio. Shares added by 146.51%

New Purchase: Schwab Intermediate-Term U.S. Treasury (SCHR)

Empirical Finance, LLC initiated holding in Schwab Intermediate-Term U.S. Treasury. The purchase prices were between $52.66 and $53.85, with an estimated average price of $53.05. The stock is now traded at around $53.60. The impact to a portfolio due to this purchase was 1.46%. The holding were 75,133 shares as of .

New Purchase: Cigna Corp (CI)

Empirical Finance, LLC initiated holding in Cigna Corp. The purchase prices were between $159.69 and $199.81, with an estimated average price of $183.17. The stock is now traded at around $158.44. The impact to a portfolio due to this purchase was 0.52%. The holding were 9,000 shares as of .

New Purchase: Micron Technology Inc (MU)

Empirical Finance, LLC initiated holding in Micron Technology Inc. The purchase prices were between $31 and $43.99, with an estimated average price of $38.53. The stock is now traded at around $38.94. The impact to a portfolio due to this purchase was 0.42%. The holding were 28,054 shares as of .

New Purchase: Coherent Inc (COHR)

Empirical Finance, LLC initiated holding in Coherent Inc. The purchase prices were between $97.9 and $143.26, with an estimated average price of $126.2. The stock is now traded at around $137.25. The impact to a portfolio due to this purchase was 0.41%. The holding were 8,090 shares as of .

New Purchase: EMCOR Group Inc (EME)

Empirical Finance, LLC initiated holding in EMCOR Group Inc. The purchase prices were between $58.09 and $73.7, with an estimated average price of $67.67. The stock is now traded at around $82.55. The impact to a portfolio due to this purchase was 0.39%. The holding were 14,737 shares as of .

New Purchase: Bed Bath & Beyond Inc (BBBY)

Empirical Finance, LLC initiated holding in Bed Bath & Beyond Inc. The purchase prices were between $11.32 and $17.33, with an estimated average price of $15.07. The stock is now traded at around $15.76. The impact to a portfolio due to this purchase was 0.39%. The holding were 63,052 shares as of .

Added: iShares Core S&P 500 (IVV)

Empirical Finance, LLC added to a holding in iShares Core S&P 500 by 146.51%. The purchase prices were between $244.46 and $286.57, with an estimated average price of $272.5. The stock is now traded at around $290.00. The impact to a portfolio due to this purchase was 1.21%. The holding were 19,913 shares as of .

Added: iShares 7-10 Year Treasury Bond ETF (IEF)

Empirical Finance, LLC added to a holding in iShares 7-10 Year Treasury Bond ETF by 71.75%. The purchase prices were between $102.6 and $106.41, with an estimated average price of $103.95. The stock is now traded at around $106.12. The impact to a portfolio due to this purchase was 1.07%. The holding were 66,293 shares as of .

Added: PulteGroup Inc (PHM)

Empirical Finance, LLC added to a holding in PulteGroup Inc by 67.18%. The purchase prices were between $25.8 and $28.95, with an estimated average price of $27.22. The stock is now traded at around $31.54. The impact to a portfolio due to this purchase was 0.37%. The holding were 90,930 shares as of .

Added: ManpowerGroup Inc (MAN)

Empirical Finance, LLC added to a holding in ManpowerGroup Inc by 71.66%. The purchase prices were between $63.72 and $85.85, with an estimated average price of $78.61. The stock is now traded at around $93.34. The impact to a portfolio due to this purchase was 0.36%. The holding were 28,984 shares as of .

Added: Tech Data Corp (TECD)

Empirical Finance, LLC added to a holding in Tech Data Corp by 55.14%. The purchase prices were between $81.09 and $106.68, with an estimated average price of $97.53. The stock is now traded at around $102.75. The impact to a portfolio due to this purchase was 0.36%. The holding were 27,519 shares as of .

Added: The Western Union Co (WU)

Empirical Finance, LLC added to a holding in The Western Union Co by 64.99%. The purchase prices were between $16.87 and $18.63, with an estimated average price of $17.97. The stock is now traded at around $19.40. The impact to a portfolio due to this purchase was 0.35%. The holding were 135,871 shares as of .

Sold Out: Schwab U.S. Large-Cap (SCHX)

Empirical Finance, LLC sold out a holding in Schwab U.S. Large-Cap. The sale prices were between $58.26 and $68.11, with an estimated average price of $64.92.

Sold Out: SPDR S&P 500 (SPY)

Empirical Finance, LLC sold out a holding in SPDR S&P 500. The sale prices were between $244.21 and $284.73, with an estimated average price of $271.34.

Sold Out: Cigna Corp (CGN)

Empirical Finance, LLC sold out a holding in Cigna Corp. The sale prices were between $141.45 and $175.43, with an estimated average price of $160.75.

Sold Out: Herbalife Nutrition Ltd (HLF)

Empirical Finance, LLC sold out a holding in Herbalife Nutrition Ltd. The sale prices were between $52.95 and $61.47, with an estimated average price of $57.48.

Sold Out: American Eagle Outfitters Inc (AEO)

Empirical Finance, LLC sold out a holding in American Eagle Outfitters Inc. The sale prices were between $19.1 and $22.17, with an estimated average price of $20.53.

Sold Out: EnerSys (ENS)

Empirical Finance, LLC sold out a holding in EnerSys. The sale prices were between $62.8 and $88.66, with an estimated average price of $75.76.

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