CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2017 Filing
Filed April 6, 2017
Portfolio Value
$4.5T
Holdings
235
Report Date
Q1 2017
Filing Type
13F-HR
All Holdings (235 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | JNJJohnson & Johnson | 970,170 | $120.8B | 2.70% | |
| 2 | PEPPepsico Inc. | 1,044,002 | $116.8B | 2.61% | |
| 3 | DEODiageo (Adr 1:4) | 882,583 | $102.0B | 2.28% | |
| 4 | MSFTMicrosoft Corp. | 1,442,904 | $95.0B | 2.12% | |
| 5 | CLColgate-Palmolive Co. | 1,271,035 | $93.0B | 2.08% | |
| 6 | MMM3M Company | 481,445 | $92.1B | 2.06% | |
| 7 | CBChubb Limited | 675,131 | $92.0B | 2.05% | |
| 8 | NTRSNorthern Trust Corporation | 1,029,300 | $89.1B | 1.99% | |
| 9 | FASTFastenal Co. | 1,726,699 | $88.9B | 1.98% | |
| 10 | PAYXPaychex Inc. | 1,464,720 | $86.3B | 1.92% | |
| 11 | FNFFidelity National Financial In | 2,196,717 | $85.5B | 1.91% | |
| 12 | CVXChevron Corp. | 788,540 | $84.7B | 1.89% | |
| 13 | GGGGraco Inc. | 891,060 | $83.9B | 1.87% | |
| 14 | SOSouthern Company | 1,681,743 | $83.7B | 1.87% | |
| 15 | PGRProgressive Corp. | 2,078,688 | $81.4B | 1.82% | |
| 16 | KHCKraft Heinz Co. | 893,078 | $81.1B | 1.81% | |
| 17 | ARCCAres Capital Corp. | 4,665,359 | $81.1B | 1.81% | |
| 18 | PXGBXPraxair Inc. | 666,303 | $79.0B | 1.76% | |
| 19 | —E.I. du Pont de Nemours & Comp | 982,340 | $78.9B | 1.76% | |
| 20 | IRMIron Mountain | 2,172,956 | $77.5B | 1.73% | |
| 21 | WYWeyerhaeuser Co. | 2,280,455 | $77.5B | 1.73% | |
| 22 | GSKGlaxoSmithKline Plc (Adr 1:2) | 1,790,184 | $75.5B | 1.68% | |
| 23 | RYNRayonier Inc. | 2,655,190 | $75.2B | 1.68% | |
| 24 | MLMMartin Marietta Materials Inc. | 343,805 | $75.0B | 1.67% | |
| 25 | SYKStryker Corp. | 556,997 | $73.3B | 1.64% | |
| 26 | PFEPfizer Inc. | 2,076,157 | $71.0B | 1.58% | |
| 27 | KMIKinder Morgan Inc. | 3,257,214 | $70.8B | 1.58% | |
| 28 | BRBroadridge Financial Solutions | 968,685 | $65.8B | 1.47% | |
| 29 | —Allergan Inc. | 266,337 | $63.6B | 1.42% | |
| 30 | PIIPolaris Industries | 730,568 | $61.2B | 1.37% | |
| 31 | MKLMarkel Corp. | 61,336 | $59.9B | 1.34% | |
| 32 | AIGAmerican International Group I | 922,992 | $57.6B | 1.29% | |
| 33 | GEGeneral Electric Company | 1,911,730 | $57.0B | 1.27% | |
| 34 | DISCKUSDDiscovery Communications Inc. | 1,960,436 | $55.5B | 1.24% | |
| 35 | CFRUYCompagnie Financiere Richemont | 6,915,674 | $54.4B | 1.21% | |
| 36 | NXPINXP Semiconductors N.V. | 491,979 | $50.9B | 1.14% | |
| 37 | LOWLowe's Companies Inc. | 577,638 | $47.5B | 1.06% | |
| 38 | KSSKohl's Corp. | 1,161,984 | $46.3B | 1.03% | |
| 39 | MAMastercard Inc. - A | 404,500 | $45.5B | 1.02% | |
| 40 | FQIDigital Realty Trust Inc. | 398,982 | $42.4B | 0.95% | |
| 41 | AXPAmerican Express Company | 527,909 | $41.8B | 0.93% | |
| 42 | TJXTJX Companies | 504,835 | $39.9B | 0.89% | |
| 43 | ADIAnalog Devices Inc. | 482,703 | $39.6B | 0.88% | |
| 44 | —Advisory Board Company | 784,882 | $36.7B | 0.82% | |
| 45 | ITWIllinois Tool Works Inc. | 263,152 | $34.9B | 0.78% | |
| 46 | CHRWC.H. Robinson Worldwide Inc. | 417,757 | $32.3B | 0.72% | |
| 47 | WRBW.R. Berkley Corp. | 453,419 | $32.0B | 0.71% | |
| 48 | UTXZUnited Technologies Corp. | 268,271 | $30.1B | 0.67% | |
| 49 | BRK/BBerkshire Hathaway Inc. - B | 178,624 | $29.8B | 0.66% | |
| 50 | IEFiShares 7-10 Year Treasury Bon | 274,517 | $29.0B | 0.65% | |
| 51 | TMOThermo Fisher Scientific Inc. | 183,757 | $28.2B | 0.63% | |
| 52 | SBUXStarbucks Corporation | 472,622 | $27.6B | 0.62% | |
| 53 | SLBSchlumberger Ltd. | 311,250 | $24.3B | 0.54% | |
| 54 | GOOGAlphabet Inc. - Class C | 27,711 | $23.0B | 0.51% | |
| 55 | —Express Scripts Inc. | 340,021 | $22.4B | 0.50% | |
| 56 | MSMMSC Industrial Direct Co. Inc. | 200,039 | $20.6B | 0.46% | |
| 57 | BROBrown & Brown Inc. | 474,018 | $19.8B | 0.44% | |
| 58 | —MTS Systems Corp. | 332,880 | $18.3B | 0.41% | |
| 59 | MBBiShares MBS Bond ETF | 164,060 | $17.5B | 0.39% | |
| 60 | AQLTiShares Corporate ex Financial | 709,660 | $17.3B | 0.39% | |
| 61 | HDHome Depot Inc. | 116,854 | $17.2B | 0.38% | |
| 62 | MDTMedtronic | 185,877 | $15.0B | 0.33% | |
| 63 | CBSHCommerce Bancshares Inc. | 266,126 | $14.9B | 0.33% | |
| 64 | DCIDonaldson Inc. | 327,359 | $14.9B | 0.33% | |
| 65 | BDXBecton Dickinson and Company | 79,474 | $14.6B | 0.33% | |
| 66 | NJRNew Jersey Resources Corp. | 366,187 | $14.5B | 0.32% | |
| 67 | CLXThe Clorox Company | 106,053 | $14.3B | 0.32% | |
| 68 | MTBM&T Bank Corp. | 91,995 | $14.2B | 0.32% | |
| 69 | MDUMDU Resources Group Inc. | 514,260 | $14.1B | 0.31% | |
| 70 | GBDCGolub Capital BDC Inc. | 705,872 | $14.0B | 0.31% | |
| 71 | NMFCNew Mountain Finance Corp. | 927,066 | $13.8B | 0.31% | |
| 72 | SPIBSPDR Interm. Term Corporate Bo | 404,648 | $13.8B | 0.31% | |
| 73 | —iShares Corporate ex Financial | 557,024 | $13.7B | 0.31% | |
| 74 | MCDMcDonald's Corp. | 105,813 | $13.7B | 0.31% | |
| 75 | GDGeneral Dynamics Corp. | 73,038 | $13.7B | 0.31% | |
| 76 | DFINDonnelley Financial Solutions | 706,988 | $13.6B | 0.30% | |
| 77 | LMTLockheed Martin Corp | 50,862 | $13.6B | 0.30% | |
| 78 | RMAXRE/MAX Holdings Inc. | 228,448 | $13.6B | 0.30% | |
| 79 | PGProcter & Gamble Company | 146,220 | $13.1B | 0.29% | |
| 80 | SEICSEI Investments Company | 257,799 | $13.0B | 0.29% | |
| 81 | —TCP Capital Corp. | 735,163 | $12.8B | 0.29% | |
| 82 | MORNMorningstar Inc. | 159,678 | $12.6B | 0.28% | |
| 83 | NSRGYNestle SA | 160,124 | $12.3B | 0.27% | |
| 84 | CFRCullen Frost Bankers Inc. | 135,952 | $12.1B | 0.27% | |
| 85 | AQLTiShares Corporate Bond ETF 202 | 457,927 | $12.1B | 0.27% | |
| 86 | EXPDExpeditors International of Wa | 212,722 | $12.0B | 0.27% | |
| 87 | XOMExxon Mobil Corp. | 143,699 | $11.8B | 0.26% | |
| 88 | APDAir Products & Chemicals Inc. | 87,016 | $11.8B | 0.26% | |
| 89 | SLRCSolar Capital Ltd. | 510,206 | $11.5B | 0.26% | |
| 90 | GWWW.W. Grainger Inc. | 49,240 | $11.5B | 0.26% | |
| 91 | NKENike Inc. - B | 202,413 | $11.3B | 0.25% | |
| 92 | TROWT. Rowe Price Group Inc. | 162,924 | $11.1B | 0.25% | |
| 93 | HTGCHercules Technology Growth Cap | 722,927 | $10.9B | 0.24% | |
| 94 | NVSNNovartis AG - ADR | 144,940 | $10.8B | 0.24% | |
| 95 | OXYOccidental Petroleum Corp. | 169,470 | $10.7B | 0.24% | |
| 96 | —Guggenheim BulletShares Invest | 516,708 | $10.6B | 0.24% | |
| 97 | —THL Credit, Inc. | 1,049,235 | $10.5B | 0.23% | |
| 98 | JWNUSDNordstrom Inc. | 220,050 | $10.2B | 0.23% | |
| 99 | TPVGTriplePoint Venture Growth BDC | 727,813 | $10.1B | 0.23% | |
| 100 | PDCOEURPatterson Companies Inc. | 220,633 | $10.0B | 0.22% |
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