CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2023 Filing
Filed April 4, 2023
Portfolio Value
$6788.7T
Holdings
301
Report Date
Q1 2023
Filing Type
13F-HR
All Holdings (301 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | PEPPepsiCo Inc. | 1,014,649 | $185.0T | 2.72% | |
| 2 | PGRProgressive Corp. | 1,243,812 | $177.9T | 2.62% | |
| 3 | ADIAnalog Devices Inc. | 844,823 | $166.6T | 2.45% | |
| 4 | SNASnap-on Inc. | 648,022 | $160.0T | 2.36% | |
| 5 | LMTLockheed Martin Corp. | 335,853 | $158.8T | 2.34% | |
| 6 | DEODiageo plc | 870,332 | $157.7T | 2.32% | |
| 7 | MSFTMicrosoft Corp. | 539,630 | $155.6T | 2.29% | |
| 8 | LINLinde plc | 429,058 | $152.5T | 2.25% | |
| 9 | FASTFastenal Co. | 2,791,824 | $150.6T | 2.22% | |
| 10 | PAYXPaychex Inc. | 1,274,673 | $146.1T | 2.15% | |
| 11 | CBChubb Ltd. | 691,291 | $134.2T | 1.98% | |
| 12 | NSRGYNestle S.A. | 1,092,870 | $133.3T | 1.96% | |
| 13 | CVXChevron Corp. | 816,466 | $133.2T | 1.96% | |
| 14 | SOSouthern Co. | 1,883,081 | $131.0T | 1.93% | |
| 15 | TROWT. Rowe Price Group Inc. | 1,117,707 | $126.2T | 1.86% | |
| 16 | PIIPolaris Inc. | 1,125,550 | $124.5T | 1.83% | |
| 17 | HDHome Depot Inc. | 416,167 | $122.8T | 1.81% | |
| 18 | 1939900DBrookfield Infrastructure Corp | 2,603,628 | $119.9T | 1.77% | |
| 19 | BRBroadridge Financial Solutions | 816,945 | $119.7T | 1.76% | |
| 20 | CLColgate-Palmolive Co. | 1,506,001 | $113.2T | 1.67% | |
| 21 | GILDGilead Sciences Inc. | 1,329,854 | $110.3T | 1.63% | |
| 22 | CSCOCisco Systems Inc. | 2,022,651 | $105.7T | 1.56% | |
| 23 | NTRSNorthern Trust Corp. | 1,177,323 | $103.8T | 1.53% | |
| 24 | DOWDow Inc. | 1,808,851 | $99.2T | 1.46% | |
| 25 | RYNRayonier Inc. | 2,954,162 | $98.3T | 1.45% | |
| 26 | KMIKinder Morgan Inc. | 5,596,640 | $98.0T | 1.44% | |
| 27 | ETREntergy Corp. | 899,209 | $96.9T | 1.43% | |
| 28 | FNFFidelity National Financial In | 2,745,533 | $95.9T | 1.41% | |
| 29 | WYWeyerhaeuser Co. | 2,965,093 | $89.3T | 1.32% | |
| 30 | ORCLOracle Corp. | 919,059 | $85.4T | 1.26% | |
| 31 | SYKStryker Corp. | 290,070 | $82.8T | 1.22% | |
| 32 | ARCCAres Capital Corp. | 4,499,066 | $82.2T | 1.21% | |
| 33 | TJXTJX Cos. Inc. | 1,003,465 | $78.6T | 1.16% | |
| 34 | MAMastercard Inc. | 212,363 | $77.2T | 1.14% | |
| 35 | FQIDigital Realty Trust Inc. | 766,181 | $75.3T | 1.11% | |
| 36 | SBUXStarbucks Corp. | 718,864 | $74.9T | 1.10% | |
| 37 | USBU.S. Bancorp | 2,041,334 | $73.6T | 1.08% | |
| 38 | GGGGraco Inc. | 1,007,818 | $73.6T | 1.08% | |
| 39 | SPGIS&P Global Inc. | 204,444 | $70.5T | 1.04% | |
| 40 | ITWIllinois Tool Works Inc. | 265,968 | $64.7T | 0.95% | |
| 41 | NXPINXP Semiconductors N.V. | 335,433 | $62.5T | 0.92% | |
| 42 | RTXRaytheon Technologies Corp. | 610,677 | $59.8T | 0.88% | |
| 43 | BRK/BBerkshire Hathaway Inc. - B | 189,026 | $58.4T | 0.86% | |
| 44 | MKLMarkel Corp. | 44,894 | $57.3T | 0.84% | |
| 45 | LOWLowe's Cos. Inc. | 278,320 | $55.7T | 0.82% | |
| 46 | MASMasco Corp. | 1,089,403 | $54.2T | 0.80% | |
| 47 | TMOThermo Fisher Scientific Inc. | 92,716 | $53.4T | 0.79% | |
| 48 | GOOGAlphabet Inc. | 508,064 | $52.8T | 0.78% | |
| 49 | SPMBSPDR Portfolio Mortgage Backed | 2,364,736 | $52.4T | 0.77% | |
| 50 | SPDWSPDR Portfolio Developed World | 1,482,911 | $47.6T | 0.70% | |
| 51 | BNBrookfield Corp. | 1,414,458 | $46.1T | 0.68% | |
| 52 | MDYVSPDR S&P 400 Mid Cap Value ETF | 652,179 | $43.1T | 0.63% | |
| 53 | BKNGBooking Holdings Inc. | 15,523 | $41.2T | 0.61% | |
| 54 | WRBW. R. Berkley Corp. | 629,980 | $39.2T | 0.58% | |
| 55 | KEYSKeysight Technologies Inc. | 228,519 | $36.9T | 0.54% | |
| 56 | NDSNNordson Corp. | 160,468 | $35.7T | 0.53% | |
| 57 | BROBrown & Brown Inc. | 607,234 | $34.9T | 0.51% | |
| 58 | CLVTClarivate plc | 3,569,839 | $33.5T | 0.49% | |
| 59 | IBTHiShares iBonds Dec 2027 Term T | 1,437,738 | $32.6T | 0.48% | |
| 60 | DNBDun & Bradstreet Holdings Inc. | 2,774,457 | $32.6T | 0.48% | |
| 61 | HSYHershey Co. | 107,773 | $27.4T | 0.40% | |
| 62 | HYBBiShares BB Rated Corporate Bon | 591,201 | $26.9T | 0.40% | |
| 63 | SHYBarclays 1-3 Year Treasury Bon | 308,073 | $25.3T | 0.37% | |
| 64 | GLDMSPDR Gold MiniShares Trust ETF | 623,882 | $24.4T | 0.36% | |
| 65 | MDYGSPDR S&P 400 Mid Cap Growth ET | 351,275 | $24.0T | 0.35% | |
| 66 | MCDMcDonald's Corp. | 85,504 | $23.9T | 0.35% | |
| 67 | NJRNew Jersey Resources Corp. | 442,704 | $23.6T | 0.35% | |
| 68 | ROKRockwell Automation Inc. | 76,891 | $22.6T | 0.33% | |
| 69 | APDAir Products and Chemicals Inc | 77,460 | $22.2T | 0.33% | |
| 70 | CALFPacer US Small Cap Cash Cows 1 | 582,652 | $22.2T | 0.33% | |
| 71 | APHAmphenol Corp. | 270,973 | $22.1T | 0.33% | |
| 72 | DCIDonaldson Co Inc. | 337,726 | $22.1T | 0.33% | |
| 73 | EXPDExpeditors International of Wa | 194,321 | $21.4T | 0.32% | |
| 74 | PGProcter & Gamble Co. | 143,414 | $21.3T | 0.31% | |
| 75 | IBTGiShares iBonds Dec 2026 Term T | 919,171 | $21.2T | 0.31% | |
| 76 | WECWEC Energy Group Inc. | 223,283 | $21.2T | 0.31% | |
| 77 | IBDRiShares iBonds Dec 2026 Term C | 888,950 | $21.1T | 0.31% | |
| 78 | GTESGates Industrial Corp. plc | 1,492,256 | $20.7T | 0.31% | |
| 79 | GDGeneral Dynamics Corp. | 90,080 | $20.6T | 0.30% | |
| 80 | NKENIKE Inc. | 167,379 | $20.5T | 0.30% | |
| 81 | AWCAmerican Water Works Co. Inc. | 136,800 | $20.0T | 0.30% | |
| 82 | SHWSherwin-Williams Co. | 86,833 | $19.5T | 0.29% | |
| 83 | BDXBecton Dickinson and Co. | 78,540 | $19.4T | 0.29% | |
| 84 | CLXClorox Co. | 121,733 | $19.3T | 0.28% | |
| 85 | DLTRDollar Tree Inc. | 133,831 | $19.2T | 0.28% | |
| 86 | CBSHCommerce Bancshares Inc. | 311,371 | $18.2T | 0.27% | |
| 87 | —Leslie's Inc. | 1,623,060 | $17.9T | 0.26% | |
| 88 | IBHGiShares iBonds December 2030 T | 856,766 | $17.3T | 0.25% | |
| 89 | MDTMedtronic plc | 199,540 | $16.1T | 0.24% | |
| 90 | MORNMorningstar Inc. | 72,945 | $14.8T | 0.22% | |
| 91 | MTBM&T Bank Corp. | 123,385 | $14.8T | 0.22% | |
| 92 | SPBSpectrum Brands Holdings Inc. | 209,589 | $13.9T | 0.20% | |
| 93 | KDPKeurig Dr. Pepper Inc. | 371,758 | $13.1T | 0.19% | |
| 94 | SPYSPDR S&P 500 ETF | 31,317 | $12.8T | 0.19% | |
| 95 | IBTEiShares iBonds Dec 2024 Term T | 525,572 | $12.6T | 0.19% | |
| 96 | RMAXRE/MAX Holdings Inc. | 634,258 | $11.9T | 0.18% | |
| 97 | —SPDR Portfolio S&P 500 Value E | 291,734 | $11.9T | 0.17% | |
| 98 | SLYGSPDR S&P 600 Small Cap Growth | 157,045 | $11.6T | 0.17% | |
| 99 | DFNMDimensional National Municipal | 239,605 | $11.6T | 0.17% | |
| 100 | FISFidelity National Information | 210,987 | $11.5T | 0.17% |
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