CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2017 Filing
Filed October 13, 2017
Portfolio Value
$5.2T
Holdings
239
Report Date
Q3 2017
Filing Type
13F-HR
All Holdings (239 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | JNJJohnson & Johnson | 1,019,805 | $132.6B | 2.54% | |
| 2 | PEPPepsico Inc. | 1,131,886 | $126.1B | 2.42% | |
| 3 | DEODiageo (Adr 1:4) | 943,888 | $124.7B | 2.39% | |
| 4 | PIIPolaris Industries | 1,105,013 | $115.6B | 2.21% | |
| 5 | FASTFastenal Co. | 2,453,192 | $111.8B | 2.14% | |
| 6 | MSFTMicrosoft Corp. | 1,476,276 | $110.0B | 2.11% | |
| 7 | NTRSNorthern Trust Corporation | 1,160,159 | $106.7B | 2.04% | |
| 8 | FNFFidelity National Financial In | 2,229,268 | $105.8B | 2.03% | |
| 9 | CBChubb Limited | 729,754 | $104.0B | 1.99% | |
| 10 | CVXChevron Corp. | 876,407 | $103.0B | 1.97% | |
| 11 | MMM3M Company | 489,839 | $102.8B | 1.97% | |
| 12 | PXGBXPraxair Inc. | 732,828 | $102.4B | 1.96% | |
| 13 | PAYXPaychex Inc. | 1,704,164 | $102.2B | 1.96% | |
| 14 | —DowDuPont Inc | 1,426,336 | $98.7B | 1.89% | |
| 15 | GGGGraco Inc. | 795,176 | $98.4B | 1.88% | |
| 16 | SOSouthern Company | 1,994,985 | $98.0B | 1.88% | |
| 17 | PGRProgressive Corp. | 2,021,813 | $97.9B | 1.88% | |
| 18 | CLColgate-Palmolive Co. | 1,331,649 | $97.0B | 1.86% | |
| 19 | IRMIron Mountain | 2,380,376 | $92.6B | 1.77% | |
| 20 | MLMMartin Marietta Materials Inc. | 428,496 | $88.4B | 1.69% | |
| 21 | RYNRayonier Inc. | 2,949,311 | $85.2B | 1.63% | |
| 22 | PFEPfizer Inc. | 2,331,993 | $83.3B | 1.59% | |
| 23 | GSKGlaxoSmithKline Plc (Adr 1:2) | 2,035,688 | $82.6B | 1.58% | |
| 24 | ARCCAres Capital Corp. | 5,041,846 | $82.6B | 1.58% | |
| 25 | KMIKinder Morgan Inc. | 4,253,950 | $81.6B | 1.56% | |
| 26 | SYKStryker Corp. | 570,177 | $81.0B | 1.55% | |
| 27 | KHCKraft Heinz Co. | 1,035,993 | $80.3B | 1.54% | |
| 28 | BRBroadridge Financial Solutions | 987,997 | $79.8B | 1.53% | |
| 29 | WYWeyerhaeuser Co. | 2,340,742 | $79.7B | 1.53% | |
| 30 | MKLMarkel Corp. | 72,047 | $76.9B | 1.47% | |
| 31 | CFRUYCompagnie Financiere Richemont | 8,193,121 | $74.9B | 1.44% | |
| 32 | —Colony Northstar Inc | 5,804,266 | $72.9B | 1.40% | |
| 33 | GEGeneral Electric Company | 2,988,020 | $72.3B | 1.38% | |
| 34 | AIGAmerican International Group I | 1,124,286 | $69.0B | 1.32% | |
| 35 | —Allergan Inc. | 318,886 | $65.4B | 1.25% | |
| 36 | MAMastercard Inc. - A | 387,893 | $54.8B | 1.05% | |
| 37 | DISCKUSDDiscovery Communications Inc. | 2,503,556 | $50.7B | 0.97% | |
| 38 | FQIDigital Realty Trust Inc. | 410,041 | $48.5B | 0.93% | |
| 39 | AXPAmerican Express Company | 530,442 | $48.0B | 0.92% | |
| 40 | NXPINXP Semiconductors N.V. | 422,807 | $47.8B | 0.92% | |
| 41 | —Advisory Board Company | 868,951 | $46.6B | 0.89% | |
| 42 | TJXTJX Companies | 600,690 | $44.3B | 0.85% | |
| 43 | ADIAnalog Devices Inc. | 482,599 | $41.6B | 0.80% | |
| 44 | ITWIllinois Tool Works Inc. | 279,681 | $41.4B | 0.79% | |
| 45 | SBUXStarbucks Corporation | 729,181 | $39.2B | 0.75% | |
| 46 | —Natus Medical Inc. | 1,044,161 | $39.2B | 0.75% | |
| 47 | SLBSchlumberger Ltd. | 560,102 | $39.1B | 0.75% | |
| 48 | MSMMSC Industrial Direct Co. Inc. | 491,590 | $37.1B | 0.71% | |
| 49 | BKIEURBlack Knight, Inc | 845,855 | $36.4B | 0.70% | |
| 50 | TMOThermo Fisher Scientific Inc. | 189,760 | $35.9B | 0.69% | |
| 51 | BRK/BBerkshire Hathaway Inc. - B | 188,467 | $34.5B | 0.66% | |
| 52 | CHRWC.H. Robinson Worldwide Inc. | 452,049 | $34.4B | 0.66% | |
| 53 | UTXZUnited Technologies Corp. | 282,776 | $32.8B | 0.63% | |
| 54 | IEFiShares 7-10 Year Treasury Bon | 306,371 | $32.6B | 0.63% | |
| 55 | WRBW.R. Berkley Corp. | 471,775 | $31.5B | 0.60% | |
| 56 | LOWLowe's Companies Inc. | 351,105 | $28.1B | 0.54% | |
| 57 | GOOGAlphabet Inc. - Class C | 28,894 | $27.7B | 0.53% | |
| 58 | AXTAAxalta Coating Systems LTD | 932,661 | $27.0B | 0.52% | |
| 59 | —Express Scripts Inc. | 378,856 | $24.0B | 0.46% | |
| 60 | BROBrown & Brown Inc. | 488,910 | $23.6B | 0.45% | |
| 61 | —MTS Systems Corp. | 370,560 | $19.8B | 0.38% | |
| 62 | HDHome Depot Inc. | 119,714 | $19.6B | 0.38% | |
| 63 | MBBiShares MBS Bond ETF | 181,087 | $19.4B | 0.37% | |
| 64 | AQLTiShares Corporate ex Financial | 762,783 | $18.7B | 0.36% | |
| 65 | MCDMcDonald's Corp. | 109,952 | $17.2B | 0.33% | |
| 66 | —Guggenheim BulletShares Invest | 809,318 | $17.0B | 0.33% | |
| 67 | SEICSEI Investments Company | 276,873 | $16.9B | 0.32% | |
| 68 | LMTLockheed Martin Corp | 54,377 | $16.9B | 0.32% | |
| 69 | ROSTRoss Stores | 258,288 | $16.7B | 0.32% | |
| 70 | BDXBecton Dickinson and Company | 84,025 | $16.5B | 0.32% | |
| 71 | CBSHCommerce Bancshares Inc. | 283,275 | $16.4B | 0.31% | |
| 72 | NJRNew Jersey Resources Corp. | 383,852 | $16.2B | 0.31% | |
| 73 | TROWT. Rowe Price Group Inc. | 177,598 | $16.1B | 0.31% | |
| 74 | GDGeneral Dynamics Corp. | 77,832 | $16.0B | 0.31% | |
| 75 | DCIDonaldson Inc. | 345,713 | $15.9B | 0.30% | |
| 76 | MTBM&T Bank Corp. | 97,910 | $15.8B | 0.30% | |
| 77 | MDTMedtronic | 197,059 | $15.3B | 0.29% | |
| 78 | IBDRiShares Corporate iBonds ETF 2 | 614,484 | $15.1B | 0.29% | |
| 79 | SPIBSPDR Interm. Term Corporate Bo | 435,536 | $15.0B | 0.29% | |
| 80 | CLXThe Clorox Company | 113,390 | $15.0B | 0.29% | |
| 81 | TLTBarclays 20 Plus Year Treasury | 119,728 | $14.9B | 0.29% | |
| 82 | APDAir Products & Chemicals Inc. | 95,722 | $14.5B | 0.28% | |
| 83 | PGProcter & Gamble Company | 159,074 | $14.5B | 0.28% | |
| 84 | NSRGYNestle SA | 172,192 | $14.4B | 0.28% | |
| 85 | MDUMDU Resources Group Inc. | 552,176 | $14.3B | 0.27% | |
| 86 | NVSNNovartis AG - ADR | 159,300 | $13.7B | 0.26% | |
| 87 | CFRCullen Frost Bankers Inc. | 141,518 | $13.4B | 0.26% | |
| 88 | AQLTiShares Corporate Bond ETF 202 | 492,182 | $13.2B | 0.25% | |
| 89 | XOMExxon Mobil Corp. | 159,910 | $13.1B | 0.25% | |
| 90 | NMFCNew Mountain Finance Corp. | 918,854 | $13.1B | 0.25% | |
| 91 | EXPDExpeditors International of Wa | 218,031 | $13.1B | 0.25% | |
| 92 | GBDCGolub Capital BDC Inc. | 676,860 | $12.7B | 0.24% | |
| 93 | —TCP Capital Corp. | 748,539 | $12.3B | 0.24% | |
| 94 | MORNMorningstar Inc. | 138,103 | $11.7B | 0.22% | |
| 95 | NKENike Inc. - B | 225,524 | $11.7B | 0.22% | |
| 96 | JWNUSDNordstrom Inc. | 231,955 | $10.9B | 0.21% | |
| 97 | SLRCSolar Capital Ltd. | 488,498 | $10.6B | 0.20% | |
| 98 | HTGCHercules Technology Growth Cap | 768,230 | $9.9B | 0.19% | |
| 99 | —THL Credit, Inc. | 1,060,148 | $9.9B | 0.19% | |
| 100 | PDCOEURPatterson Companies Inc. | 241,552 | $9.3B | 0.18% |
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