CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2018 Filing

Filed October 25, 2018

Portfolio Value

$5.9B

Holdings

310

Report Date

Q3 2018

Filing Type

13F-HR

All Holdings (310 positions)

StockValue
JNJJohnson & Johnson
$155.3M
MSFTMicrosoft Corp.
$147.1M
PGRProgressive Corp.
$138.3M
FASTFastenal Co.
$137.8M
DEODiageo PLC
$135.6M
DowDuPont Inc
$135.2M
PEPPepsico Inc.
$134.1M
NXPINXP Semiconductors N.V.
$129.5M
PAYXPaychex Inc.
$127.4M
PXGBXPraxair Inc.
$122.1M
NTRSNorthern Trust Corporation
$119.5M
MMM3M Company
$115.0M
PIIPolaris Industries
$113.3M
CVXChevron Corp.
$110.8M
PFEPfizer Inc.
$104.9M
CBChubb Corp
$103.6M
CLColgate-Palmolive Co.
$102.0M
KMIKinder Morgan Inc.
$101.6M
RYNRayonier Inc.
$100.4M
GGGGraco Inc.
$98.6M
BKIEURBlack Knight Inc
$97.9M
SOSouthern Company
$96.2M
FNFFidelity National Financial In
$93.7M
GILDGilead Sciences
$92.0M
IRMIron Mountain
$89.6M
BRBroadridge Financial Solutions
$88.8M
ARCCAres Capital Corp.
$88.6M
WYWeyerhaeuser Co.
$86.6M
MLMMartin Marietta Materials Inc.
$81.4M
KHCKraft Heinz Co.
$78.1M
MKLMarkel Corp.
$73.1M
FQIDigital Realty Trust Inc.
$68.2M
TJXTJX Companies
$65.6M
Allergan Inc.
$64.0M
NSRGYNestle SA
$63.0M
MAMastercard Inc. - A
$61.1M
AXTAAxalta Coating Systems LTD
$60.7M
SYKStryker Corp.
$55.6M
AIGAmerican International Group I
$55.0M
CFRUYCompagnie Financiere Richemont
$53.7M
AXPAmerican Express Company
$47.9M
SBUXStarbucks Corporation
$46.9M
UTXZUnited Technologies Corp.
$46.8M
ADIAnalog Devices Inc.
$43.7M
ITWIllinois Tool Works Inc.
$42.3M
TMOThermo Fisher Scientific Inc.
$39.6M
LOWLowe's Companies Inc.
$39.0M
SLBSchlumberger Ltd.
$38.8M
BRK/BBerkshire Hathaway Inc. - B
$38.8M
WRBW.R. Berkley Corp.
$37.5M
GSKGlaxoSmithKline Plc (Adr 1:2)
$36.1M
MSMMSC Industrial Direct Co. Inc.
$35.4M
SPBSpectrum Brands Holdings Inc
$33.8M
GOOGAlphabet Inc. - Class C
$33.1M
BROBrown & Brown Inc.
$31.5M
Natus Medical Inc.
$31.1M
ORCLOracle Corporation
$30.7M
IEFiShares 7-10 Year Treasury Bon
$26.1M
HDHome Depot Inc.
$25.3M
MTS Systems Corp.
$23.3M
BDXBecton Dickinson and Company
$22.9M
IVWS&P 500 Growth Index - iShares
$22.5M
ACNAccenture PLC
$22.4M
DCIDonaldson Inc.
$22.2M
MDTMedtronic
$21.3M
NKENike Inc. - B
$21.0M
CBSHCommerce Bancshares Inc.
$20.8M
LMTLockheed Martin Corp
$20.4M
TROWT. Rowe Price Group Inc.
$19.9M
MCDMcDonald's Corp.
$19.5M
NJRNew Jersey Resources Corp.
$19.5M
CLXThe Clorox Company
$19.3M
MBBiShares MBS Bond ETF
$18.7M
BAMBrookfield Asset Management In
$17.9M
APDAir Products & Chemicals Inc.
$17.9M
SEICSEI Investments Company
$17.9M
GDGeneral Dynamics Corp.
$17.8M
PPGPPG Industries Inc.
$17.7M
MTBM&T Bank Corp.
$17.5M
AQLTiShares Corporate ex Financial
$17.5M
TLTBarclays 20 Plus Year Treasury
$16.8M
EXPDExpeditors International of Wa
$16.7M
CFRCullen Frost Bankers Inc.
$16.6M
NVSNNovartis AG - ADR
$16.4M
XOMExxon Mobil Corp.
$16.2M
MDUMDU Resources Group Inc.
$16.1M
Invesco BulletShares 2024
$15.9M
PGProcter & Gamble Company
$15.9M
MORNMorningstar Inc.
$15.3M
IVES&P 500 Value Index - iShares
$14.2M
SPIBSPDR Portfolio Intermediate Te
$14.1M
IBDRiShares Corporate iBonds ETF 2
$13.9M
Invesco BulletShares 2021
$12.9M
GBDCGolub Capital BDC Inc.
$12.6M
NMFCNew Mountain Finance Corp.
$12.4M
PDCOEURPatterson Companies Inc.
$12.4M
IJTS&P SmallCap 600 Growth Index
$12.3M
JWNUSDNordstrom Inc.
$12.3M
HTGCHercules Technology Growth Cap
$10.9M
TCP Capital Corp.
$10.6M
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