CONFLUENCE INVESTMENT MANAGEMENT LLC Q2 2016 Filing

Filed July 26, 2016

Portfolio Value

$3.6B

Holdings

230

Report Date

Q2 2016

Filing Type

13F-HR

All Holdings (230 positions)

StockValue
JNJJohnson & Johnson
$98.0M
PEPPepsico, Inc
$94.0M
CVXChevron Corp.
$90.8M
DEODiageo (Adr 1:4)
$76.6M
CBChubb Limited
$71.1M
MMM3M Company
$67.5M
MSFTMicrosoft Corp.
$67.4M
PAYXPaychex, Inc.
$66.5M
SOSouthern Company
$64.6M
CLColgate-Palmolive Co.
$63.9M
IRMIron Mountain
$63.6M
Linear Technology Corp
$63.6M
FNFFidelity National Financial In
$63.3M
KHCKraft Heinz Co.
$63.2M
SYKStryker Corp.
$63.0M
NTRSNorthern Trust Corporation
$59.3M
GGGGraco inc.
$58.8M
GSKGlaxoSmithKline Plc (Adr 1:2)
$57.7M
PXGBXPraxair Inc.
$56.5M
MLMMartin Marietta Materials Inc.
$56.2M
PFEPfizer Inc.
$55.4M
ARCCAres Capital Corp.
$54.5M
WYWeyerhaeuser Co.
$54.1M
BRBroadridge Financial Solutions
$53.7M
RYNRayonier Inc.
$53.6M
GEGeneral Electric Company
$53.1M
PGRProgressive Corp.
$53.0M
MKLMarkel Corp.
$52.3M
FASTFastenal Co.
$51.2M
CHRWC.H. Robinson Worldwide Inc.
$48.9M
Du Pont E.I. De Nemours & Com
$48.6M
KMIKinder Morgan Inc.
$44.0M
AIGAmerican International Group,
$43.2M
KSSKohl's Corp.
$42.6M
MATMattel Inc
$39.4M
DISCKUSDDiscovery Communications, Inc.
$39.0M
TJXTJX Companies
$37.8M
FQIDigital Realty Trust Inc.
$36.3M
CFRUYCompagnie Financiere Richemont
$34.9M
LOWLowe's Companies Inc.
$34.2M
MAMastercard Inc. - A
$34.2M
TLTBarclays 20+ Year Treasury Bon
$31.9M
ITWIllinois Tool Works Inc.
$30.6M
WRBW.R. Berkley Corp
$30.3M
UTXZUnited Technologies Corp.
$29.8M
AXPAmerican Express Company
$29.5M
BROBrown & Brown Inc.
$29.1M
TMOThermo Fisher Scientific, Inc.
$28.8M
BBBYEURBed Bath & Beyond Inc
$28.6M
BRK/BBerkshire Hathaway Inc. - B
$27.9M
Express Scripts Inc.
$25.3M
SLBSchlumberger Ltd.
$24.6M
GOOGAlphabet Inc. Class- C
$22.5M
WFCWells Fargo & Company
$22.1M
IJKS&P MidCap 400 Growth Index Fu
$21.8M
Advisory Board Company
$21.7M
IJJS&P MidCap 400 Value Index Fun
$21.6M
IEFiShares 7-10 Year Treasury Bon
$20.0M
EXPDExpeditors International of Wa
$19.6M
RMAXRE/Max Holdings
$18.7M
MSMMSC Industrial Direct Co. Inc
$17.7M
VCLTVanguard Long Term Corporate B
$15.7M
GBDCGolub Capital BDC Inc
$14.1M
DCIDonaldson Inc
$13.6M
REZiShares Residential Real Estat
$13.2M
HDHome Depot Inc.
$12.8M
AQLTiShares Corporate ex Financial
$12.2M
MORNMorningstar Inc.
$12.0M
MLNVanEck Vectors Long Municipal
$11.9M
IYWDow Jones US Technology - iSha
$11.8M
NJRNew Jersey Resources Corp.
$11.6M
CLXThe Clorox Company
$11.6M
LMTLockheed Martin Corp
$11.6M
MTS Systems Corp.
$11.5M
BDXBecton, Dickinson and Company
$11.5M
MDUMDU Resources Group Inc.
$11.3M
XOMExxon Mobil Corp.
$11.1M
NMFCNew Mountain Finance Corp.
$10.6M
MDTMedtronic
$10.6M
IWPRussell Midcap Growth Index Fu
$10.5M
TCP Capital Corp
$10.4M
CBSHCommerce Bancshares, Inc.
$10.4M
THL Credit
$10.4M
MCDMcDonald's Corp.
$10.4M
OXYOccidental Petroleum Corp
$10.1M
GDGeneral Dynamics Corp.
$10.0M
SEICSEI Investments Company
$10.0M
SLRCSolar Capital, LTD.
$10.0M
IWORussell 2000 Growth Index - iS
$9.8M
APDAir Products & Chemicals Inc.
$9.8M
PGProcter & Gamble Company
$9.8M
SPIBSPDR Interm. Term Corporate Bo
$9.7M
IWNRussell 2000 Value Index - iSh
$9.6M
NSRGYNestle SA
$9.5M
iShares Corporate ex Financial
$9.5M
IJTS&P SmallCap 600 Growth Index
$9.4M
PIIPolaris Industries
$9.4M
ADIAnalog Devices, Inc.
$9.4M
IGLBiShares 10+ Year Credit Bond E
$9.3M
VNQREIT Index - Vanguard
$9.2M
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