CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2018 Filing
Filed April 4, 2018
Portfolio Value
$5.4T
Holdings
227
Report Date
Q1 2018
Filing Type
13F-HR
All Holdings (227 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | —DowDuPont Inc | 2,195,042 | $139.8B | 2.58% | |
| 2 | JNJJohnson & Johnson | 1,072,001 | $137.4B | 2.54% | |
| 3 | DEODiageo (Adr 1:4) | 977,254 | $132.3B | 2.45% | |
| 4 | MSFTMicrosoft Corp. | 1,448,508 | $132.2B | 2.44% | |
| 5 | PEPPepsico Inc. | 1,188,785 | $129.8B | 2.40% | |
| 6 | FASTFastenal Co. | 2,327,332 | $127.0B | 2.35% | |
| 7 | PIIPolaris Industries | 1,084,741 | $124.2B | 2.30% | |
| 8 | NTRSNorthern Trust Corporation | 1,202,654 | $124.0B | 2.29% | |
| 9 | PGRProgressive Corp. | 1,967,536 | $119.9B | 2.21% | |
| 10 | PXGBXPraxair Inc. | 756,068 | $109.1B | 2.02% | |
| 11 | PAYXPaychex Inc. | 1,763,765 | $108.6B | 2.01% | |
| 12 | RYNRayonier Inc. | 3,081,389 | $108.4B | 2.00% | |
| 13 | CLColgate-Palmolive Co. | 1,499,833 | $107.5B | 1.99% | |
| 14 | BRBroadridge Financial Solutions | 979,636 | $107.5B | 1.99% | |
| 15 | MMM3M Company | 481,060 | $105.6B | 1.95% | |
| 16 | BKIEURBlack Knight Inc | 2,227,505 | $104.9B | 1.94% | |
| 17 | CVXChevron Corp. | 917,040 | $104.6B | 1.93% | |
| 18 | GGGGraco Inc. | 2,285,279 | $104.5B | 1.93% | |
| 19 | CBChubb Limited | 761,787 | $104.2B | 1.93% | |
| 20 | SOSouthern Company | 2,202,197 | $98.3B | 1.82% | |
| 21 | FNFFidelity National Financial In | 2,429,040 | $97.2B | 1.80% | |
| 22 | MLMMartin Marietta Materials Inc. | 448,059 | $92.9B | 1.72% | |
| 23 | PFEPfizer Inc. | 2,462,817 | $87.4B | 1.61% | |
| 24 | IRMIron Mountain | 2,656,402 | $87.3B | 1.61% | |
| 25 | SYKStryker Corp. | 526,180 | $84.7B | 1.56% | |
| 26 | ARCCAres Capital Corp. | 5,284,950 | $83.9B | 1.55% | |
| 27 | WYWeyerhaeuser Co. | 2,353,076 | $82.4B | 1.52% | |
| 28 | MKLMarkel Corp. | 67,712 | $79.2B | 1.46% | |
| 29 | KMIKinder Morgan Inc. | 4,735,665 | $71.3B | 1.32% | |
| 30 | KHCKraft Heinz Co. | 1,121,206 | $69.8B | 1.29% | |
| 31 | CFRUYCompagnie Financiere Richemont | 7,700,489 | $69.0B | 1.27% | |
| 32 | AXTAAxalta Coating Systems LTD | 2,263,266 | $68.3B | 1.26% | |
| 33 | FQIDigital Realty Trust Inc. | 623,842 | $65.7B | 1.21% | |
| 34 | GSKGlaxoSmithKline Plc (Adr 1:2) | 1,582,073 | $61.8B | 1.14% | |
| 35 | —Allergan Inc. | 364,224 | $61.3B | 1.13% | |
| 36 | MAMastercard Inc. - A | 344,668 | $60.4B | 1.12% | |
| 37 | AIGAmerican International Group I | 1,105,247 | $60.1B | 1.11% | |
| 38 | GILDGilead Sciences, Inc. | 786,729 | $59.3B | 1.10% | |
| 39 | TJXTJX Companies | 619,136 | $50.5B | 0.93% | |
| 40 | AXPAmerican Express Company | 480,283 | $44.8B | 0.83% | |
| 41 | SBUXStarbucks Corporation | 771,126 | $44.6B | 0.82% | |
| 42 | ADIAnalog Devices Inc. | 479,068 | $43.7B | 0.81% | |
| 43 | ITWIllinois Tool Works Inc. | 272,509 | $42.7B | 0.79% | |
| 44 | MSMMSC Industrial Direct Co. Inc. | 452,423 | $41.5B | 0.77% | |
| 45 | UTXZUnited Technologies Corp. | 326,923 | $41.1B | 0.76% | |
| 46 | SLBSchlumberger Ltd. | 606,244 | $39.3B | 0.73% | |
| 47 | BRK/BBerkshire Hathaway Inc. - B | 184,468 | $36.8B | 0.68% | |
| 48 | TMOThermo Fisher Scientific Inc. | 168,424 | $34.8B | 0.64% | |
| 49 | WRBW.R. Berkley Corp. | 477,786 | $34.7B | 0.64% | |
| 50 | NXPINXP Semiconductors N.V. | 296,102 | $34.6B | 0.64% | |
| 51 | —Natus Medical Inc. | 993,351 | $33.4B | 0.62% | |
| 52 | DISCKUSDDiscovery Communications Inc. | 1,565,195 | $30.6B | 0.56% | |
| 53 | GOOGAlphabet Inc. - Class C | 28,566 | $29.5B | 0.54% | |
| 54 | LOWLowe's Companies Inc. | 333,578 | $29.3B | 0.54% | |
| 55 | IEFiShares 7-10 Year Treasury Bon | 270,758 | $27.9B | 0.52% | |
| 56 | ORCLOracle Corporation | 584,968 | $26.8B | 0.49% | |
| 57 | BROBrown & Brown Inc. | 964,145 | $24.5B | 0.45% | |
| 58 | HDHome Depot Inc. | 118,370 | $21.1B | 0.39% | |
| 59 | SEICSEI Investments Company | 273,006 | $20.5B | 0.38% | |
| 60 | —MTS Systems Corp. | 392,276 | $20.3B | 0.37% | |
| 61 | MBBiShares MBS Bond ETF | 187,926 | $19.7B | 0.36% | |
| 62 | IVWS&P 500 Growth Index - iShares | 123,667 | $19.2B | 0.35% | |
| 63 | TROWT. Rowe Price Group Inc. | 176,011 | $19.0B | 0.35% | |
| 64 | AQLTiShares Corporate ex Financial | 785,164 | $18.7B | 0.34% | |
| 65 | MTBM&T Bank Corp. | 99,559 | $18.4B | 0.34% | |
| 66 | LMTLockheed Martin Corp | 54,242 | $18.3B | 0.34% | |
| 67 | BDXBecton Dickinson and Company | 84,119 | $18.2B | 0.34% | |
| 68 | CBSHCommerce Bancshares Inc. | 304,008 | $18.2B | 0.34% | |
| 69 | TLTBarclays 20 Plus Year Treasury | 147,919 | $18.0B | 0.33% | |
| 70 | ACNAccenture PLC | 115,262 | $17.7B | 0.33% | |
| 71 | GDGeneral Dynamics Corp. | 79,669 | $17.6B | 0.33% | |
| 72 | MCDMcDonald's Corp. | 108,575 | $17.0B | 0.31% | |
| 73 | —Guggenheim BulletShares Invest | 831,363 | $16.9B | 0.31% | |
| 74 | MDUMDU Resources Group Inc. | 580,983 | $16.4B | 0.30% | |
| 75 | MDTMedtronic | 203,725 | $16.3B | 0.30% | |
| 76 | DCIDonaldson Inc. | 356,493 | $16.1B | 0.30% | |
| 77 | NJRNew Jersey Resources Corp. | 396,874 | $15.9B | 0.29% | |
| 78 | APDAir Products & Chemicals Inc. | 99,245 | $15.8B | 0.29% | |
| 79 | CLXThe Clorox Company | 118,027 | $15.7B | 0.29% | |
| 80 | NKENike Inc. - B | 236,447 | $15.7B | 0.29% | |
| 81 | CFRCullen Frost Bankers Inc. | 146,612 | $15.6B | 0.29% | |
| 82 | SPIBSPDR Portfolio Intermediate Te | 447,869 | $15.0B | 0.28% | |
| 83 | IBDRiShares Corporate iBonds ETF 2 | 631,458 | $14.9B | 0.28% | |
| 84 | EXPDExpeditors International of Wa | 234,031 | $14.8B | 0.27% | |
| 85 | NSRGYNestle SA | 180,440 | $14.2B | 0.26% | |
| 86 | NVSNNovartis AG - ADR | 169,499 | $13.7B | 0.25% | |
| 87 | PGProcter & Gamble Company | 170,731 | $13.5B | 0.25% | |
| 88 | MORNMorningstar Inc. | 141,649 | $13.5B | 0.25% | |
| 89 | AQLTiShares Corporate Bond ETF 202 | 506,102 | $13.1B | 0.24% | |
| 90 | XOMExxon Mobil Corp. | 171,371 | $12.8B | 0.24% | |
| 91 | IVES&P 500 Value Index - iShares | 113,480 | $12.4B | 0.23% | |
| 92 | NMFCNew Mountain Finance Corp. | 920,347 | $12.1B | 0.22% | |
| 93 | GBDCGolub Capital BDC Inc. | 672,413 | $12.0B | 0.22% | |
| 94 | JWNUSDNordstrom Inc. | 247,880 | $12.0B | 0.22% | |
| 95 | PDCOEURPatterson Companies Inc. | 481,938 | $10.7B | 0.20% | |
| 96 | —TCP Capital Corp. | 749,673 | $10.7B | 0.20% | |
| 97 | IJKS&P MidCap 400 Growth Index Fu | 47,500 | $10.4B | 0.19% | |
| 98 | SLRCSolar Capital Ltd. | 489,310 | $9.9B | 0.18% | |
| 99 | HTGCHercules Technology Growth Cap | 806,630 | $9.8B | 0.18% | |
| 100 | —Colony Northstar Inc | 1,718,491 | $9.7B | 0.18% |
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