CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2016 Filing

Filed May 4, 2016

Portfolio Value

$3.3B

Holdings

231

Report Date

Q1 2016

Filing Type

13F-HR

All Holdings (231 positions)

StockValue
PEPPepsico, Inc
$83.8M
JNJJohnson & Johnson
$83.6M
CVXChevron Corp.
$69.3M
DEODiageo (Adr 1:4)
$66.8M
MSFTMicrosoft Corp.
$65.7M
GGGGraco inc.
$64.1M
MMM3M Company
$62.3M
SOSouthern Company
$59.9M
CBChubb Corp
$59.0M
PAYXPaychex, Inc.
$58.9M
CLColgate-Palmolive Co.
$58.3M
MLMMartin Marietta Materials Inc.
$56.1M
SYKStryker Corp.
$55.8M
Linear Technology Corp
$55.7M
PGRProgressive Corp.
$54.1M
KHCKraft Heinz Co.
$54.0M
NTRSNorthern Trust Corporation
$53.2M
ARCCAres Capital Corp.
$52.9M
PXGBXPraxair Inc.
$51.8M
GEGeneral Electric Company
$51.8M
WYWeyerhaeuser Co.
$51.2M
IRMIron Mountain
$51.1M
FASTFastenol Co.
$51.0M
FNFFidelity National Financial In
$50.3M
BRBroadridge Financial Solutions
$50.0M
CHRWC.H. Robinson Worldwide Inc.
$48.2M
GSKGlaxoSmithKline Plc (Adr 1:2)
$48.0M
MATMattel Inc
$47.6M
MKLMarkel Corp.
$47.5M
Du Pont E.I. De Nemours & Com
$46.1M
KSSKohl's Corp.
$45.9M
RYNRayonier Inc.
$45.9M
FQIDigital Realty Trust Inc.
$44.4M
PFEPfizer Inc.
$42.5M
DISCKUSDDiscovery Communications, Inc.
$41.0M
AIGAmerican International Group,
$38.1M
TJXTJX Companies
$37.3M
KMIKinder Morgan Inc.
$36.0M
MAMastercard Inc. - A
$34.7M
Express Scripts Inc.
$34.5M
BROBrown & Brown Inc.
$32.5M
EXPDExpeditors International of Wa
$32.0M
LOWLowe's Companies Inc.
$30.7M
ITWIllinois Tool Works Inc.
$29.8M
BBBYEURBed Bath & Beyond Inc
$28.7M
TLTBarclays 20+ Year Treasury Bon
$28.1M
UTXZUnited Technologies Corp.
$27.5M
AXPAmerican Express Company
$26.7M
WRBW.R. Berkley Corp
$26.5M
TMOThermo Fisher Scientific, Inc.
$25.9M
BRK/BBerkshire Hathaway Inc. - B
$25.0M
MORNMorningstar Inc.
$24.4M
IJJS&P MidCap 400 Value Index Fun
$21.8M
GOOGAlphabet Inc. Class- C
$21.4M
MSMMSC Industrial Direct Co. Inc
$20.9M
IJKS&P MidCap 400 Growth Index Fu
$20.7M
WFCWells Fargo & Company
$20.5M
CFRUYCompagnie Financiere Richemont
$18.8M
HALHalliburton Co.
$18.3M
IEFiShares 7-10 Year Treasury Bon
$17.7M
VCLTVanguard Long Term Corporate B
$17.3M
RMAXRE/Max Holdings
$15.7M
GBDCGolub Capital BDC Inc
$13.2M
IYWDow Jones US Technology - iSha
$13.0M
HDHome Depot Inc.
$12.8M
AQLTiShares Corporate ex Financial
$10.9M
IGLBiShares 10+ Year Credit Bond E
$10.7M
PIIPolaris Industries
$10.6M
NJRNew Jersey Resources Corp.
$10.4M
NMFCNew Mountain Finance Corp.
$10.3M
Market Vectors Long Municipal
$10.3M
MCDMcDonald's Corp.
$10.2M
TCP Capital Corp
$10.1M
IWPRussell Midcap Growth Index Fu
$10.0M
CLXThe Clorox Company
$10.0M
BDXBecton, Dickinson and Company
$9.9M
LMTLockheed Martin Corp
$9.8M
THL Credit
$9.7M
XLYConsumer Discret Select Sector
$9.4M
IWORussell 2000 Growth Index - iS
$9.3M
APDAir Products & Chemicals Inc.
$9.3M
CBSHCommerce Bancshares, Inc.
$9.1M
IWNRussell 2000 Value Index - iSh
$9.1M
ADIAnalog Devices, Inc.
$9.0M
XOMExxon Mobil Corp.
$9.0M
IJTS&P SmallCap 600 Growth Index
$8.9M
MDUMDU Resources Group Inc.
$8.9M
SLRCSolar Capital, LTD.
$8.9M
PGProcter & Gamble Company
$8.8M
GDGeneral Dynamics Corp.
$8.8M
SPIBSPDR Interm. Term Corporate Bo
$8.7M
Triangle Capital Corp
$8.7M
iShares Corporate ex Financial
$8.6M
OXYOccidental Petroleum Corp
$8.5M
MDTMedtronic
$8.5M
TROWT. Rowe Price Group, Inc.
$8.5M
NSRGYNestle SA
$8.4M
IJSS&P SmallCap 600 Value Index F
$8.4M
SEICSEI Investments Company
$8.3M
HTGCHercules Technology Growth Cap
$8.3M
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