CONFLUENCE INVESTMENT MANAGEMENT LLC Q4 2018 Filing
Filed January 4, 2019
Portfolio Value
$5.3B
Holdings
304
Report Date
Q4 2018
Filing Type
13F-HR
All Holdings (304 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | JNJJohnson & Johnson | 1,113,751 | $143.7B | 2702.89% | |
| 2 | DEODiageo PLC | 956,801 | $135.7B | 2551.39% | |
| 3 | PEPPepsico Inc. | 1,220,808 | $134.9B | 2536.37% | |
| 4 | MSFTMicrosoft Corp. | 1,262,822 | $128.3B | 2412.07% | |
| 5 | FASTFastenal Co. | 2,356,495 | $123.2B | 2317.21% | |
| 6 | LINLinde PLC | 739,906 | $115.5B | 2171.17% | |
| 7 | PAYXPaychex Inc. | 1,749,443 | $114.0B | 2143.36% | |
| 8 | —DowDuPont Inc | 2,078,268 | $111.1B | 2090.14% | |
| 9 | NXPINXP Semiconductors N.V. | 1,468,826 | $107.6B | 2024.13% | |
| 10 | NSRGYNestle SA | 1,317,150 | $106.6B | 2005.33% | |
| 11 | MMM3M Company | 557,476 | $106.2B | 1997.52% | |
| 12 | PFEPfizer Inc. | 2,366,222 | $103.3B | 1942.33% | |
| 13 | CBChubb Corp | 794,728 | $102.7B | 1930.61% | |
| 14 | NTRSNorthern Trust Corporation | 1,213,989 | $101.5B | 1908.31% | |
| 15 | CVXChevron Corp. | 913,757 | $99.4B | 1869.40% | |
| 16 | SOSouthern Company | 2,254,718 | $99.0B | 1862.24% | |
| 17 | PGRProgressive Corp. | 1,598,312 | $96.4B | 1813.32% | |
| 18 | GGGGraco Inc. | 2,300,633 | $96.3B | 1810.60% | |
| 19 | CLColgate-Palmolive Co. | 1,546,054 | $92.0B | 1730.49% | |
| 20 | BRBroadridge Financial Solutions | 933,712 | $89.9B | 1690.04% | |
| 21 | PIIPolaris Industries | 1,137,685 | $87.2B | 1640.54% | |
| 22 | KMIKinder Morgan Inc. | 5,599,302 | $86.1B | 1619.46% | |
| 23 | IRMIron Mountain | 2,630,589 | $85.3B | 1603.29% | |
| 24 | RYNRayonier Inc. | 3,016,147 | $83.5B | 1570.57% | |
| 25 | ARCCAres Capital Corp. | 5,192,058 | $80.9B | 1521.20% | |
| 26 | MLMMartin Marietta Materials Inc. | 456,301 | $78.4B | 1474.79% | |
| 27 | FNFFidelity National Financial In | 2,449,202 | $77.0B | 1448.07% | |
| 28 | GILDGilead Sciences | 1,161,993 | $72.7B | 1366.83% | |
| 29 | BKIEURBlack Knight Inc | 1,575,434 | $71.0B | 1334.97% | |
| 30 | ADIAnalog Devices Inc. | 774,887 | $66.5B | 1250.72% | |
| 31 | FQIDigital Realty Trust Inc. | 615,843 | $65.6B | 1233.97% | |
| 32 | WYWeyerhaeuser Co. | 2,850,253 | $62.3B | 1171.70% | |
| 33 | MKLMarkel Corp. | 59,357 | $61.6B | 1158.71% | |
| 34 | KHCKraft Heinz Co. | 1,412,672 | $60.8B | 1143.38% | |
| 35 | SBUXStarbucks Corporation | 832,486 | $53.6B | 1008.19% | |
| 36 | MAMastercard Inc. - A | 274,706 | $51.8B | 974.55% | |
| 37 | SYKStryker Corp. | 322,246 | $50.5B | 949.90% | |
| 38 | TJXTJX Companies | 1,032,565 | $46.2B | 868.75% | |
| 39 | AXTAAxalta Coating Systems LTD | 1,920,269 | $45.0B | 845.73% | |
| 40 | CFRUYCompagnie Financiere Richemont | 6,254,203 | $40.3B | 758.61% | |
| 41 | TIFEURTiffany & Co. | 494,211 | $39.8B | 748.25% | |
| 42 | ITWIllinois Tool Works Inc. | 310,013 | $39.3B | 738.58% | |
| 43 | FTDRFrontdoor Inc | 1,443,457 | $38.4B | 722.31% | |
| 44 | AIGAmerican International Group I | 962,611 | $37.9B | 713.42% | |
| 45 | BRK/BBerkshire Hathaway Inc. - B | 179,016 | $36.6B | 687.35% | |
| 46 | UTXZUnited Technologies Corp. | 342,147 | $36.4B | 685.12% | |
| 47 | TMOThermo Fisher Scientific Inc. | 157,888 | $35.3B | 664.47% | |
| 48 | WRBW.R. Berkley Corp. | 464,882 | $34.4B | 646.13% | |
| 49 | LOWLowe's Companies Inc. | 366,592 | $33.9B | 636.71% | |
| 50 | GOOGAlphabet Inc. - Class C | 30,894 | $32.0B | 601.66% | |
| 51 | BROBrown & Brown Inc. | 1,101,679 | $30.4B | 570.97% | |
| 52 | BAMBrookfield Asset Management In | 764,058 | $29.3B | 551.03% | |
| 53 | IUSViShares Core US Values - ETF | 595,505 | $29.2B | 549.74% | |
| 54 | MSMMSC Industrial Direct Co. Inc. | 379,463 | $29.2B | 548.89% | |
| 55 | —Natus Medical Inc. | 800,578 | $27.2B | 512.33% | |
| 56 | IEFiShares 7-10 Year Treasury Bon | 253,429 | $26.4B | 496.59% | |
| 57 | ORCLOracle Corporation | 575,666 | $26.0B | 488.77% | |
| 58 | GSKGlaxoSmithKline Plc (Adr 1:2) | 641,569 | $24.5B | 460.99% | |
| 59 | SLBSchlumberger Ltd. | 644,749 | $23.3B | 437.47% | |
| 60 | SPBSpectrum Brands Holdings Inc | 533,024 | $22.5B | 423.50% | |
| 61 | HDHome Depot Inc. | 125,327 | $21.5B | 404.95% | |
| 62 | MCDMcDonald's Corp. | 119,905 | $21.3B | 400.40% | |
| 63 | BDXBecton Dickinson and Company | 91,425 | $20.6B | 387.39% | |
| 64 | CLXThe Clorox Company | 132,231 | $20.4B | 383.29% | |
| 65 | MDTMedtronic | 223,772 | $20.4B | 382.76% | |
| 66 | —Allergan Inc. | 151,245 | $20.2B | 380.15% | |
| 67 | NJRNew Jersey Resources Corp. | 432,699 | $19.8B | 371.61% | |
| 68 | ACNAccenture PLC | 136,532 | $19.3B | 362.04% | |
| 69 | CBSHCommerce Bancshares Inc. | 340,381 | $19.2B | 360.82% | |
| 70 | NKENike Inc. - B | 258,321 | $19.2B | 360.16% | |
| 71 | NVSNNovartis AG - ADR | 214,250 | $18.4B | 345.74% | |
| 72 | AXPAmerican Express Company | 190,969 | $18.2B | 342.31% | |
| 73 | APDAir Products & Chemicals Inc. | 113,616 | $18.2B | 341.96% | |
| 74 | PGProcter & Gamble Company | 195,977 | $18.0B | 338.76% | |
| 75 | IVWS&P 500 Growth Index - iShares | 119,174 | $18.0B | 337.67% | |
| 76 | NDSNNordson Corporation | 148,632 | $17.7B | 333.59% | |
| 77 | TROWT. Rowe Price Group Inc. | 192,092 | $17.7B | 333.49% | |
| 78 | PPGPPG Industries Inc. | 169,092 | $17.3B | 325.07% | |
| 79 | AQLTiShares Corporate ex Financial | 730,181 | $17.2B | 323.51% | |
| 80 | DCIDonaldson Inc. | 395,475 | $17.2B | 322.70% | |
| 81 | JWNUSDNordstrom Inc. | 361,356 | $16.8B | 316.74% | |
| 82 | EXPDExpeditors International of Wa | 241,496 | $16.4B | 309.22% | |
| 83 | LMTLockheed Martin Corp | 62,428 | $16.3B | 307.39% | |
| 84 | MTBM&T Bank Corp. | 112,724 | $16.1B | 303.41% | |
| 85 | MBBiShares MBS Bond ETF | 152,215 | $15.9B | 299.55% | |
| 86 | MDUMDU Resources Group Inc. | 660,223 | $15.7B | 296.00% | |
| 87 | —Invesco BulletShares 2024 | 778,965 | $15.6B | 292.54% | |
| 88 | CFRCullen Frost Bankers Inc. | 170,030 | $15.0B | 281.18% | |
| 89 | GDGeneral Dynamics Corp. | 93,729 | $14.7B | 277.10% | |
| 90 | SEICSEI Investments Company | 313,742 | $14.5B | 272.58% | |
| 91 | TLTBarclays 20 Plus Year Treasury | 115,493 | $14.0B | 263.91% | |
| 92 | MORNMorningstar Inc. | 125,644 | $13.8B | 259.53% | |
| 93 | SPIBSPDR Portfolio Intermediate Te | 417,683 | $13.8B | 259.51% | |
| 94 | XOMExxon Mobil Corp. | 200,376 | $13.7B | 256.96% | |
| 95 | IBDRiShares Corporate iBonds ETF 2 | 588,374 | $13.6B | 254.81% | |
| 96 | —Invesco BulletShares 2021 | 616,211 | $12.8B | 240.45% | |
| 97 | IJTS&P SmallCap 600 Growth Index | 73,030 | $11.8B | 221.56% | |
| 98 | NMFCNew Mountain Finance Corp. | 918,354 | $11.6B | 217.26% | |
| 99 | IVES&P 500 Value Index - iShares | 113,861 | $11.5B | 216.56% | |
| 100 | GBDCGolub Capital BDC Inc. | 687,538 | $11.3B | 213.20% |
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