CONFLUENCE INVESTMENT MANAGEMENT LLC Q4 2019 Filing
Filed January 29, 2020
Portfolio Value
$6.8T
Holdings
283
Report Date
Q4 2019
Filing Type
13F-HR
All Holdings (283 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | NXPINXP Semiconductors N.V. | 1,485,287 | $189.0B | 2.78% | |
| 2 | MSFTMicrosoft Corp. | 1,096,153 | $172.9B | 2.54% | |
| 3 | PEPPepsico Inc. | 1,226,196 | $167.6B | 2.46% | |
| 4 | DEODiageo PLC | 909,866 | $153.2B | 2.25% | |
| 5 | LINLinde PLC | 711,339 | $151.4B | 2.23% | |
| 6 | SOSouthern Company | 2,234,492 | $142.3B | 2.09% | |
| 7 | PAYXPaychex Inc. | 1,656,110 | $140.9B | 2.07% | |
| 8 | NSRGYNestle SA | 1,298,840 | $140.6B | 2.07% | |
| 9 | LMTLockheed Martin Corp | 352,077 | $137.1B | 2.02% | |
| 10 | TIFEURTiffany & Co. | 993,281 | $132.8B | 1.95% | |
| 11 | NTRSNorthern Trust Corporation | 1,248,674 | $132.7B | 1.95% | |
| 12 | FASTFastenal Co. | 3,585,764 | $132.5B | 1.95% | |
| 13 | CBChubb Corp | 810,281 | $126.1B | 1.86% | |
| 14 | PIIPolaris Industries | 1,214,843 | $123.5B | 1.82% | |
| 15 | KMIKinder Morgan Inc. | 5,630,670 | $119.2B | 1.75% | |
| 16 | PGRProgressive Corp. | 1,598,285 | $115.7B | 1.70% | |
| 17 | CVXChevron Corp. | 949,945 | $114.5B | 1.68% | |
| 18 | BRBroadridge Financial Solutions | 925,658 | $114.4B | 1.68% | |
| 19 | ETREntergy Corporation | 947,830 | $113.5B | 1.67% | |
| 20 | CLColgate-Palmolive Co. | 1,632,306 | $112.4B | 1.65% | |
| 21 | SLG2EURSl Green Realty | 1,221,994 | $112.3B | 1.65% | |
| 22 | GGGGraco Inc. | 2,122,864 | $110.4B | 1.62% | |
| 23 | FNFFidelity National Financial In | 2,396,536 | $108.7B | 1.60% | |
| 24 | MMM3M Company | 587,224 | $103.6B | 1.52% | |
| 25 | USBUS Bancorp | 1,728,623 | $102.5B | 1.51% | |
| 26 | RYNRayonier Inc. | 3,117,098 | $102.1B | 1.50% | |
| 27 | FQIDigital Realty Trust Inc. | 815,559 | $97.7B | 1.44% | |
| 28 | DOWDow Inc | 1,782,387 | $97.5B | 1.43% | |
| 29 | ARCCAres Capital Corp. | 5,065,844 | $94.5B | 1.39% | |
| 30 | WYWeyerhaeuser Co. | 3,095,783 | $93.5B | 1.38% | |
| 31 | PFEPfizer Inc. | 2,364,760 | $92.7B | 1.36% | |
| 32 | ADIAnalog Devices Inc. | 772,744 | $91.8B | 1.35% | |
| 33 | GILDGilead Sciences | 1,242,162 | $80.7B | 1.19% | |
| 34 | BKIEURBlack Knight Inc | 1,215,678 | $78.4B | 1.15% | |
| 35 | TJXTJX Companies | 1,096,957 | $67.0B | 0.99% | |
| 36 | BRK/BBerkshire Hathaway Inc. - B | 291,476 | $66.0B | 0.97% | |
| 37 | SYKStryker Corp. | 309,630 | $65.0B | 0.96% | |
| 38 | MAMastercard Inc. - A | 216,662 | $64.7B | 0.95% | |
| 39 | MKLMarkel Corp. | 54,519 | $62.3B | 0.92% | |
| 40 | ITWIllinois Tool Works Inc. | 330,341 | $59.3B | 0.87% | |
| 41 | AXTAAxalta Coating Systems LTD | 1,887,448 | $57.4B | 0.84% | |
| 42 | SBUXStarbucks Corporation | 649,623 | $57.1B | 0.84% | |
| 43 | UTXZUnited Technologies Corp. | 368,634 | $55.2B | 0.81% | |
| 44 | FTDRFrontdoor Inc | 1,137,617 | $53.9B | 0.79% | |
| 45 | TMOThermo Fisher Scientific Inc. | 147,726 | $48.0B | 0.71% | |
| 46 | WRBW.R. Berkley Corp. | 665,143 | $46.0B | 0.68% | |
| 47 | BAMBrookfield Asset Management In | 780,931 | $45.1B | 0.66% | |
| 48 | BROBrown & Brown Inc. | 1,100,851 | $43.5B | 0.64% | |
| 49 | LOWLowe's Companies Inc. | 362,453 | $43.4B | 0.64% | |
| 50 | GOOGAlphabet Inc. - Class C | 31,836 | $42.6B | 0.63% | |
| 51 | IEFiShares 7-10 Year Treasury Bon | 383,773 | $42.3B | 0.62% | |
| 52 | CFRUYCompagnie Financiere Richemont | 5,183,184 | $40.5B | 0.60% | |
| 53 | ORCLOracle Corporation | 630,534 | $33.4B | 0.49% | |
| 54 | TLTBarclays 20 Plus Year Treasury | 243,523 | $33.0B | 0.49% | |
| 55 | CERNCHFCerner Corporation | 447,809 | $32.9B | 0.48% | |
| 56 | SPBSpectrum Brands Holdings Inc | 475,750 | $30.6B | 0.45% | |
| 57 | ACNAccenture PLC | 144,615 | $30.5B | 0.45% | |
| 58 | APDAir Products & Chemicals Inc. | 120,396 | $28.3B | 0.42% | |
| 59 | —Allergan Inc. | 147,923 | $28.3B | 0.42% | |
| 60 | DALDelta Air Lines | 482,834 | $28.2B | 0.42% | |
| 61 | NKENike Inc. - B | 275,050 | $27.9B | 0.41% | |
| 62 | MDTMedtronic | 245,168 | $27.8B | 0.41% | |
| 63 | FISFidelity National Information | 199,653 | $27.8B | 0.41% | |
| 64 | NDSNNordson Corporation | 170,043 | $27.7B | 0.41% | |
| 65 | CBSHCommerce Bancshares Inc. | 402,291 | $27.3B | 0.40% | |
| 66 | HDHome Depot Inc. | 124,502 | $27.2B | 0.40% | |
| 67 | BDXBecton Dickinson and Company | 99,717 | $27.1B | 0.40% | |
| 68 | PGProcter & Gamble Company | 211,975 | $26.5B | 0.39% | |
| 69 | TROWT. Rowe Price Group Inc. | 215,514 | $26.3B | 0.39% | |
| 70 | PPGPPG Industries Inc. | 195,216 | $26.1B | 0.38% | |
| 71 | AXPAmerican Express Company | 209,117 | $26.0B | 0.38% | |
| 72 | DCIDonaldson Inc. | 448,831 | $25.9B | 0.38% | |
| 73 | AWCAmerican Water Works Co. | 207,147 | $25.4B | 0.37% | |
| 74 | SCHWCharles Schwab | 531,128 | $25.3B | 0.37% | |
| 75 | MCDMcDonald's Corp. | 127,498 | $25.2B | 0.37% | |
| 76 | MSMMSC Industrial Direct Co. Inc. | 318,144 | $25.0B | 0.37% | |
| 77 | SEICSEI Investments Company | 373,854 | $24.5B | 0.36% | |
| 78 | SNASnap-on Inc. | 143,492 | $24.3B | 0.36% | |
| 79 | DDDupont De Nemurs Inc | 365,779 | $23.5B | 0.35% | |
| 80 | NVSNNovartis AG - ADR | 247,857 | $23.5B | 0.35% | |
| 81 | AIGAmerican International Group I | 452,129 | $23.2B | 0.34% | |
| 82 | IVES&P 500 Value Index - iShares | 175,848 | $22.9B | 0.34% | |
| 83 | CLXThe Clorox Company | 148,932 | $22.9B | 0.34% | |
| 84 | CNNECannae Holdings Inc | 612,597 | $22.8B | 0.34% | |
| 85 | MTBM&T Bank Corp. | 132,625 | $22.5B | 0.33% | |
| 86 | EXPDExpeditors International of Wa | 284,417 | $22.2B | 0.33% | |
| 87 | NJRNew Jersey Resources Corp. | 491,655 | $21.9B | 0.32% | |
| 88 | CFRCullen Frost Bankers Inc. | 210,318 | $20.6B | 0.30% | |
| 89 | GDGeneral Dynamics Corp. | 113,498 | $20.0B | 0.29% | |
| 90 | CTVACorteva Inc | 668,255 | $19.8B | 0.29% | |
| 91 | RMAXRE/MAX Holdings Inc. | 504,923 | $19.4B | 0.29% | |
| 92 | MBBiShares MBS Bond ETF | 170,235 | $18.4B | 0.27% | |
| 93 | XOMExxon Mobil Corp. | 258,333 | $18.0B | 0.27% | |
| 94 | MORNMorningstar Inc. | 116,321 | $17.6B | 0.26% | |
| 95 | MLNVanEck Vectors Long Municipal | 795,428 | $16.7B | 0.25% | |
| 96 | SPIBSPDR Portfolio Intermediate Te | 473,302 | $16.7B | 0.25% | |
| 97 | IBDRiShares Corporate iBonds ETF 2 | 653,420 | $16.7B | 0.25% | |
| 98 | IJJS&P MidCap 400 Value Index Fun | 96,188 | $16.4B | 0.24% | |
| 99 | IVWS&P 500 Growth Index - iShares | 81,283 | $15.7B | 0.23% | |
| 100 | IAUUSDiShares Gold Trust | 1,062,616 | $15.4B | 0.23% |
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