CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2020 Filing
Filed April 8, 2020
Portfolio Value
$5.2T
Holdings
291
Report Date
Q1 2020
Filing Type
13F-HR
All Holdings (291 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | PEPPepsico Inc. | 1,221,577 | $146.7B | 2.79% | |
| 2 | MSFTMicrosoft Corp. | 872,939 | $137.7B | 2.62% | |
| 3 | NSRGYNestle SA | 1,278,922 | $131.7B | 2.51% | |
| 4 | LINLinde PLC | 700,147 | $121.1B | 2.31% | |
| 5 | DEODiageo PLC | 925,268 | $117.6B | 2.24% | |
| 6 | LMTLockheed Martin Corp | 346,302 | $117.4B | 2.24% | |
| 7 | PGRProgressive Corp. | 1,580,873 | $116.7B | 2.22% | |
| 8 | SOSouthern Company | 2,133,018 | $115.5B | 2.20% | |
| 9 | FQIDigital Realty Trust Inc. | 807,538 | $112.2B | 2.14% | |
| 10 | FASTFastenal Co. | 3,540,964 | $110.7B | 2.11% | |
| 11 | GGGGraco Inc. | 2,262,158 | $110.2B | 2.10% | |
| 12 | CLColgate-Palmolive Co. | 1,632,987 | $108.4B | 2.06% | |
| 13 | PAYXPaychex Inc. | 1,665,612 | $104.8B | 2.00% | |
| 14 | TIFEURTiffany & Co. | 795,862 | $103.1B | 1.96% | |
| 15 | GILDGilead Sciences | 1,284,493 | $96.0B | 1.83% | |
| 16 | NTRSNorthern Trust Corporation | 1,253,162 | $94.6B | 1.80% | |
| 17 | CBChubb Corp | 812,284 | $90.7B | 1.73% | |
| 18 | SNASnap-on Inc. | 832,323 | $90.6B | 1.73% | |
| 19 | BRBroadridge Financial Solutions | 926,565 | $87.9B | 1.67% | |
| 20 | ETREntergy Corporation | 905,064 | $85.0B | 1.62% | |
| 21 | MMM3M Company | 606,197 | $82.8B | 1.58% | |
| 22 | ADIAnalog Devices Inc. | 893,915 | $80.1B | 1.53% | |
| 23 | KMIKinder Morgan Inc. | 5,653,115 | $78.7B | 1.50% | |
| 24 | PFEPfizer Inc. | 2,383,494 | $77.8B | 1.48% | |
| 25 | RYNRayonier Inc. | 3,152,536 | $74.2B | 1.41% | |
| 26 | CVXChevron Corp. | 975,996 | $70.7B | 1.35% | |
| 27 | USBUS Bancorp | 2,032,770 | $70.0B | 1.33% | |
| 28 | PIIPolaris Industries | 1,257,478 | $60.5B | 1.15% | |
| 29 | FNFFidelity National Financial In | 2,409,776 | $60.0B | 1.14% | |
| 30 | SYKStryker Corp. | 341,150 | $56.8B | 1.08% | |
| 31 | WYWeyerhaeuser Co. | 3,160,310 | $53.6B | 1.02% | |
| 32 | TJXTJX Companies | 1,118,233 | $53.5B | 1.02% | |
| 33 | MAMastercard Inc. - A | 217,832 | $52.6B | 1.00% | |
| 34 | DOWDow Inc | 1,797,687 | $52.6B | 1.00% | |
| 35 | SLG2EURSl Green Realty | 1,216,212 | $52.4B | 1.00% | |
| 36 | SBUXStarbucks Corporation | 795,082 | $52.3B | 1.00% | |
| 37 | BRK/BBerkshire Hathaway Inc. - B | 285,433 | $52.2B | 0.99% | |
| 38 | ARCCAres Capital Corp. | 4,651,203 | $50.1B | 0.96% | |
| 39 | MKLMarkel Corp. | 52,723 | $48.9B | 0.93% | |
| 40 | ITWIllinois Tool Works Inc. | 330,660 | $47.0B | 0.90% | |
| 41 | BKIEURBlack Knight Inc | 732,544 | $42.5B | 0.81% | |
| 42 | IEFiShares 7-10 Year Treasury Bon | 344,966 | $41.9B | 0.80% | |
| 43 | NXPINXP Semiconductors N.V. | 492,825 | $40.9B | 0.78% | |
| 44 | TMOThermo Fisher Scientific Inc. | 135,113 | $38.3B | 0.73% | |
| 45 | GOOGAlphabet Inc. - Class C | 32,236 | $37.5B | 0.71% | |
| 46 | BROBrown & Brown Inc. | 1,031,161 | $37.3B | 0.71% | |
| 47 | CNNECannae Holdings Inc | 1,084,183 | $36.3B | 0.69% | |
| 48 | UTXZUnited Technologies Corp. | 379,906 | $35.8B | 0.68% | |
| 49 | FTDRFrontdoor Inc | 1,025,448 | $35.7B | 0.68% | |
| 50 | WRBW.R. Berkley Corp. | 672,708 | $35.1B | 0.67% | |
| 51 | BAMBrookfield Asset Management In | 790,844 | $35.0B | 0.67% | |
| 52 | AXTAAxalta Coating Systems LTD | 1,929,872 | $33.3B | 0.63% | |
| 53 | LOWLowe's Companies Inc. | 371,583 | $32.0B | 0.61% | |
| 54 | ORCLOracle Corporation | 655,210 | $31.7B | 0.60% | |
| 55 | NDSNNordson Corporation | 220,861 | $29.8B | 0.57% | |
| 56 | CERNCHFCerner Corporation | 453,109 | $28.5B | 0.54% | |
| 57 | CFRUYCompagnie Financiere Richemont | 5,185,149 | $27.8B | 0.53% | |
| 58 | DLTRDollar Tree, Inc. | 354,845 | $26.1B | 0.50% | |
| 59 | CLXThe Clorox Company | 148,910 | $25.8B | 0.49% | |
| 60 | AWCAmerican Water Works Co. | 204,699 | $24.5B | 0.47% | |
| 61 | FISFidelity National Information | 196,894 | $23.9B | 0.46% | |
| 62 | APDAir Products & Chemicals Inc. | 118,735 | $23.7B | 0.45% | |
| 63 | ACNAccenture PLC | 142,033 | $23.2B | 0.44% | |
| 64 | PGProcter & Gamble Company | 210,274 | $23.1B | 0.44% | |
| 65 | HDHome Depot Inc. | 123,733 | $23.1B | 0.44% | |
| 66 | BDXBecton Dickinson and Company | 99,373 | $22.8B | 0.43% | |
| 67 | NKENike Inc. - B | 272,156 | $22.5B | 0.43% | |
| 68 | MDTMedtronic | 245,925 | $22.2B | 0.42% | |
| 69 | BKNGBooking Holdings Inc | 16,375 | $22.0B | 0.42% | |
| 70 | MCDMcDonald's Corp. | 127,632 | $21.1B | 0.40% | |
| 71 | CRLCharles River Laboratories Int | 165,530 | $20.9B | 0.40% | |
| 72 | TROWT. Rowe Price Group Inc. | 212,974 | $20.8B | 0.40% | |
| 73 | NVSNNovartis AG - ADR | 250,248 | $20.6B | 0.39% | |
| 74 | CBSHCommerce Bancshares Inc. | 399,730 | $20.1B | 0.38% | |
| 75 | EXPDExpeditors International of Wa | 290,618 | $19.4B | 0.37% | |
| 76 | AXPAmerican Express Company | 211,245 | $18.1B | 0.34% | |
| 77 | SCHWCharles Schwab | 537,734 | $18.1B | 0.34% | |
| 78 | SPYGSPDR S&P 500 Growth ETF | 499,072 | $17.8B | 0.34% | |
| 79 | DCIDonaldson Inc. | 457,524 | $17.7B | 0.34% | |
| 80 | NJRNew Jersey Resources Corp. | 517,021 | $17.6B | 0.33% | |
| 81 | SEICSEI Investments Company | 378,375 | $17.5B | 0.33% | |
| 82 | MBBiShares MBS Bond ETF | 158,742 | $17.5B | 0.33% | |
| 83 | ROKRockwell Automation Inc. | 111,869 | $16.9B | 0.32% | |
| 84 | PPGPPG Industries Inc. | 199,370 | $16.7B | 0.32% | |
| 85 | AVNSAvanos Medical Inc. | 606,007 | $16.3B | 0.31% | |
| 86 | IBDRiShares Corporate iBonds ETF 2 | 632,758 | $15.5B | 0.30% | |
| 87 | GDGeneral Dynamics Corp. | 117,401 | $15.5B | 0.30% | |
| 88 | HCSGHealthcare Services Group | 641,544 | $15.3B | 0.29% | |
| 89 | MDYGDow Jones Mid Cap Growth ETF - | 345,570 | $14.8B | 0.28% | |
| 90 | DALDelta Air Lines | 517,787 | $14.8B | 0.28% | |
| 91 | MLNVanEck Vectors Long Municipal | 710,670 | $14.5B | 0.28% | |
| 92 | MTBM&T Bank Corp. | 137,677 | $14.2B | 0.27% | |
| 93 | MORNMorningstar Inc. | 120,953 | $14.1B | 0.27% | |
| 94 | —IHS Markit Ltd | 230,699 | $13.8B | 0.26% | |
| 95 | AQLTiShares Corporate Bond ETF 202 | 519,670 | $13.7B | 0.26% | |
| 96 | BSMYInvesco BulletShares 2025 | 662,111 | $13.6B | 0.26% | |
| 97 | IAUUSDiShares Gold Trust | 876,954 | $13.2B | 0.25% | |
| 98 | CFRCullen Frost Bankers Inc. | 223,950 | $12.5B | 0.24% | |
| 99 | —SPDR S&P 500 Value | 458,670 | $11.9B | 0.23% | |
| 100 | TLTBarclays 20 Plus Year Treasury | 71,616 | $11.8B | 0.23% |
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