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)

StockValue
JNJJohnson & Johnson
$143.7M
DEODiageo PLC
$135.7M
PEPPepsico Inc.
$134.9M
MSFTMicrosoft Corp.
$128.3M
FASTFastenal Co.
$123.2M
LINLinde PLC
$115.5M
PAYXPaychex Inc.
$114.0M
DowDuPont Inc
$111.1M
NXPINXP Semiconductors N.V.
$107.6M
NSRGYNestle SA
$106.6M
MMM3M Company
$106.2M
PFEPfizer Inc.
$103.3M
CBChubb Corp
$102.7M
NTRSNorthern Trust Corporation
$101.5M
CVXChevron Corp.
$99.4M
SOSouthern Company
$99.0M
PGRProgressive Corp.
$96.4M
GGGGraco Inc.
$96.3M
CLColgate-Palmolive Co.
$92.0M
BRBroadridge Financial Solutions
$89.9M
PIIPolaris Industries
$87.2M
KMIKinder Morgan Inc.
$86.1M
IRMIron Mountain
$85.3M
RYNRayonier Inc.
$83.5M
ARCCAres Capital Corp.
$80.9M
MLMMartin Marietta Materials Inc.
$78.4M
FNFFidelity National Financial In
$77.0M
GILDGilead Sciences
$72.7M
BKIEURBlack Knight Inc
$71.0M
ADIAnalog Devices Inc.
$66.5M
FQIDigital Realty Trust Inc.
$65.6M
WYWeyerhaeuser Co.
$62.3M
MKLMarkel Corp.
$61.6M
KHCKraft Heinz Co.
$60.8M
SBUXStarbucks Corporation
$53.6M
MAMastercard Inc. - A
$51.8M
SYKStryker Corp.
$50.5M
TJXTJX Companies
$46.2M
AXTAAxalta Coating Systems LTD
$45.0M
CFRUYCompagnie Financiere Richemont
$40.3M
TIFEURTiffany & Co.
$39.8M
ITWIllinois Tool Works Inc.
$39.3M
FTDRFrontdoor Inc
$38.4M
AIGAmerican International Group I
$37.9M
BRK/BBerkshire Hathaway Inc. - B
$36.6M
UTXZUnited Technologies Corp.
$36.4M
TMOThermo Fisher Scientific Inc.
$35.3M
WRBW.R. Berkley Corp.
$34.4M
LOWLowe's Companies Inc.
$33.9M
GOOGAlphabet Inc. - Class C
$32.0M
BROBrown & Brown Inc.
$30.4M
BAMBrookfield Asset Management In
$29.3M
IUSViShares Core US Values - ETF
$29.2M
MSMMSC Industrial Direct Co. Inc.
$29.2M
Natus Medical Inc.
$27.2M
IEFiShares 7-10 Year Treasury Bon
$26.4M
ORCLOracle Corporation
$26.0M
GSKGlaxoSmithKline Plc (Adr 1:2)
$24.5M
SLBSchlumberger Ltd.
$23.3M
SPBSpectrum Brands Holdings Inc
$22.5M
HDHome Depot Inc.
$21.5M
MCDMcDonald's Corp.
$21.3M
BDXBecton Dickinson and Company
$20.6M
CLXThe Clorox Company
$20.4M
MDTMedtronic
$20.4M
Allergan Inc.
$20.2M
NJRNew Jersey Resources Corp.
$19.8M
ACNAccenture PLC
$19.3M
CBSHCommerce Bancshares Inc.
$19.2M
NKENike Inc. - B
$19.2M
NVSNNovartis AG - ADR
$18.4M
AXPAmerican Express Company
$18.2M
APDAir Products & Chemicals Inc.
$18.2M
PGProcter & Gamble Company
$18.0M
IVWS&P 500 Growth Index - iShares
$18.0M
NDSNNordson Corporation
$17.7M
TROWT. Rowe Price Group Inc.
$17.7M
PPGPPG Industries Inc.
$17.3M
AQLTiShares Corporate ex Financial
$17.2M
DCIDonaldson Inc.
$17.2M
JWNUSDNordstrom Inc.
$16.8M
EXPDExpeditors International of Wa
$16.4M
LMTLockheed Martin Corp
$16.3M
MTBM&T Bank Corp.
$16.1M
MBBiShares MBS Bond ETF
$15.9M
MDUMDU Resources Group Inc.
$15.7M
Invesco BulletShares 2024
$15.6M
CFRCullen Frost Bankers Inc.
$15.0M
GDGeneral Dynamics Corp.
$14.7M
SEICSEI Investments Company
$14.5M
TLTBarclays 20 Plus Year Treasury
$14.0M
MORNMorningstar Inc.
$13.8M
SPIBSPDR Portfolio Intermediate Te
$13.8M
XOMExxon Mobil Corp.
$13.7M
IBDRiShares Corporate iBonds ETF 2
$13.6M
Invesco BulletShares 2021
$12.8M
IJTS&P SmallCap 600 Growth Index
$11.8M
NMFCNew Mountain Finance Corp.
$11.6M
IVES&P 500 Value Index - iShares
$11.5M
GBDCGolub Capital BDC Inc.
$11.3M
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