CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2018 Filing
Filed April 4, 2018
Portfolio Value
$5.4B
Holdings
227
Report Date
Q1 2018
Filing Type
13F-HR
All Holdings (227 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 101 | TFISPDR Nuveen Barclays Capital M | 200,785 | $9.6B | 178.18% | |
| 102 | —iShares Corporate ex Financial | 388,408 | $9.5B | 174.97% | |
| 103 | MLNVanEck Vectors Long Municipal | 462,080 | $9.2B | 169.72% | |
| 104 | IJTS&P SmallCap 600 Growth Index | 49,768 | $8.7B | 159.86% | |
| 105 | TPVGTriplePoint Venture Growth BDC | 696,903 | $8.3B | 153.87% | |
| 106 | —THL Credit, Inc. | 1,071,634 | $8.3B | 153.85% | |
| 107 | VWOVanguard MSCI Emerging Markets | 170,067 | $8.0B | 147.62% | |
| 108 | IGIBiShares Interm. Term Corporate | 70,792 | $7.6B | 140.27% | |
| 109 | —iShares iBonds Dec 2021 AMT-Fr | 280,361 | $7.1B | 131.57% | |
| 110 | —iShares iBonds Dec 2022 AMT-F | 276,641 | $7.1B | 130.33% | |
| 111 | IJJS&P MidCap 400 Value Index Fun | 45,303 | $7.0B | 129.32% | |
| 112 | TSLXUSDTPG Specialty Lending, Inc. | 360,953 | $6.4B | 119.12% | |
| 113 | SCMStellus Capital Investment | 553,907 | $6.4B | 117.80% | |
| 114 | —Triangle Capital Corp. | 569,454 | $6.3B | 117.10% | |
| 115 | ACWXiShares MSCI ACWI EX US ETF | 127,519 | $6.3B | 117.07% | |
| 116 | —CYS Investments Inc | 932,172 | $6.3B | 115.74% | |
| 117 | PNNTPennantPark Investment Corp. | 920,659 | $6.2B | 113.63% | |
| 118 | MOVMovado Group Inc. | 159,639 | $6.1B | 113.26% | |
| 119 | IJSS&P SmallCap 600 Value Index F | 38,638 | $5.8B | 107.68% | |
| 120 | RMAXRE/MAX Holdings Inc. | 96,363 | $5.8B | 107.62% | |
| 121 | —Guggenheim BulletShares Corpor | 271,562 | $5.7B | 105.26% | |
| 122 | —Guggenheim BulletShares Invest | 269,135 | $5.7B | 104.72% | |
| 123 | —Guggenheim BulletShares Invest | 271,131 | $5.6B | 104.30% | |
| 124 | —Guggenheim BulletShares Invest | 271,588 | $5.6B | 104.22% | |
| 125 | ALNTAllied Motion Technologies Inc | 141,080 | $5.6B | 103.61% | |
| 126 | RMRRMR Group Inc | 78,451 | $5.5B | 101.40% | |
| 127 | THRThermon Group Holdings Inc. | 236,416 | $5.3B | 97.89% | |
| 128 | SAMThe Boston Beer Company Inc. | 28,005 | $5.3B | 97.83% | |
| 129 | VREXVarex Imaging Corp | 144,036 | $5.2B | 95.23% | |
| 130 | —iShares iBonds Sep 2020 Amt Fr | 202,568 | $5.1B | 94.91% | |
| 131 | NLYEURAnnaly Capital Management Inc. | 486,456 | $5.1B | 93.75% | |
| 132 | —Halyard Health Inc. | 107,889 | $5.0B | 91.86% | |
| 133 | OFSOFS Capital Corp. | 441,377 | $5.0B | 91.49% | |
| 134 | FSICUSDFS Investment Corp. | 682,834 | $5.0B | 91.48% | |
| 135 | —Raven Industries Inc. | 141,131 | $4.9B | 91.40% | |
| 136 | BMRCBank of Marin (CA) | 70,997 | $4.9B | 90.44% | |
| 137 | TECHTechne Corp. | 31,505 | $4.8B | 87.93% | |
| 138 | —Monotype Imaging Holdings Inc. | 208,654 | $4.7B | 86.54% | |
| 139 | VGKEuropean ETF - Vanguard | 79,440 | $4.6B | 85.34% | |
| 140 | —Cambrex Corp | 87,745 | $4.6B | 84.79% | |
| 141 | MUBiShares National AMT-Free Muni | 41,389 | $4.5B | 83.31% | |
| 142 | VBTXVeritex Holdings | 160,897 | $4.5B | 82.26% | |
| 143 | —iShares iBonds Dec 2021 Term C | 181,351 | $4.4B | 82.00% | |
| 144 | GOODGladstone Commercial Corp. | 252,157 | $4.4B | 80.78% | |
| 145 | FWRDUSDForward Air Corp. | 82,493 | $4.4B | 80.57% | |
| 146 | ASTEASTEC INDUSTRIES, INC. | 77,375 | $4.3B | 78.89% | |
| 147 | CULPCulp Inc. | 139,357 | $4.3B | 78.67% | |
| 148 | HLTHilton Worldwide Holdings Inc. | 52,701 | $4.2B | 76.69% | |
| 149 | IPHSEURInnophos Holdings Inc | 101,994 | $4.1B | 75.77% | |
| 150 | PTBPotbelly Corp. | 338,819 | $4.1B | 75.44% | |
| 151 | —Apollo Investment Corp. | 751,435 | $3.9B | 72.48% | |
| 152 | —Luxoft Holding Inc | 91,647 | $3.8B | 69.34% | |
| 153 | —Guggenheim BulletShares Invest | 186,443 | $3.7B | 68.99% | |
| 154 | SPYS&P 500 - SPDR | 13,762 | $3.6B | 66.90% | |
| 155 | SPDWSPDR Portfolio World Ex US ETF | 114,494 | $3.6B | 66.50% | |
| 156 | GSBDGoldman Sachs BDC Inc. | 172,555 | $3.3B | 60.99% | |
| 157 | MAINMain Street Capital Corp. | 86,673 | $3.2B | 59.09% | |
| 158 | —iShares iBonds Sep 2019 Amt Fr | 125,337 | $3.2B | 58.59% | |
| 159 | RBCRBC Bearings Incorporated | 25,387 | $3.2B | 58.26% | |
| 160 | JBTJohn Bean Technologies Corp. | 25,988 | $2.9B | 54.45% | |
| 161 | HYGHigh Yield Corporate Bond Fund | 30,033 | $2.6B | 47.52% | |
| 162 | STTBarclays Capital High Yield Bo | 71,468 | $2.6B | 47.34% | |
| 163 | IBDSiShares iBonds Dec 2027 Term C | 104,599 | $2.5B | 46.52% | |
| 164 | IAUiShares iBonds Dec 2023 Term C | 102,533 | $2.5B | 46.38% | |
| 165 | IBDQiShares iBonds Dec 2025 Term C | 103,256 | $2.5B | 46.30% | |
| 166 | GOOGLAlphabet Inc. - Class A | 2,368 | $2.5B | 45.38% | |
| 167 | REZiShares Residential Real Estat | 40,703 | $2.3B | 43.36% | |
| 168 | MCCUSDMedley Capital Corp. | 586,714 | $2.3B | 43.14% | |
| 169 | PFLTPennantPark Floating Rate Capi | 171,803 | $2.2B | 41.55% | |
| 170 | VCLTVanguard Long Term Corporate B | 23,890 | $2.2B | 40.33% | |
| 171 | —CM Finance Inc. | 228,969 | $1.9B | 34.70% | |
| 172 | AQLTiShares Muni Bond 2023 | 68,785 | $1.7B | 31.63% | |
| 173 | IYWDow Jones US Technology - iSha | 9,161 | $1.5B | 28.47% | |
| 174 | —Solar Senior Capital Ltd. | 91,171 | $1.5B | 28.29% | |
| 175 | EXPOExponent Inc. | 19,381 | $1.5B | 28.16% | |
| 176 | BRK-BBerkshire Hathaway Inc. - Clas | 5 | $1.5B | 27.62% | |
| 177 | IYFDow Jones US Financial Sector | 12,665 | $1.5B | 27.57% | |
| 178 | FSC1EUROaktree Specialty Lending Corp | 312,362 | $1.3B | 24.30% | |
| 179 | —Corporate Capital Trust Inc | 76,348 | $1.3B | 23.83% | |
| 180 | XLBMaterials Select Sector - SPDR | 22,385 | $1.3B | 23.56% | |
| 181 | XLEEnergy Select Sector - SPDR | 18,215 | $1.2B | 22.69% | |
| 182 | —Alcentra Capital Corporation | 172,787 | $1.2B | 22.23% | |
| 183 | EEMSiShares MSCI Emerging Markets | 22,000 | $1.2B | 21.69% | |
| 184 | FELEFranklin Electric Co. Inc. | 26,973 | $1.1B | 20.31% | |
| 185 | —KCAP Financial Inc | 340,472 | $1.1B | 19.75% | |
| 186 | IAUUSDiShares Gold Trust | 82,680 | $1.1B | 19.46% | |
| 187 | JPMJP Morgan Chase & Company | 9,564 | $1.1B | 19.44% | |
| 188 | —Capstead Mortgage Corp. | 111,062 | $961.0M | 17.76% | |
| 189 | ABTAbbott Laboratories | 15,445 | $925.0M | 17.09% | |
| 190 | ITGartner Inc | 7,730 | $910.0M | 16.81% | |
| 191 | VVisa, Inc. - A | 6,297 | $753.0M | 13.91% | |
| 192 | FSPFranklin Street Properties Cor | 80,000 | $673.0M | 12.43% | |
| 193 | IVVS&P 500 Index Fund - iShares | 2,432 | $645.0M | 11.92% | |
| 194 | BACBank of America Corp. | 21,211 | $636.0M | 11.75% | |
| 195 | VNQREIT Index - Vanguard | 7,071 | $534.0M | 9.87% | |
| 196 | BROBrown & Brown Inc. | 19,490 | $496.0M | 9.16% | |
| 197 | KOThe Coca-Cola Company | 9,906 | $430.0M | 7.94% | |
| 198 | —ETFS Physical Platinum | 4,370 | $387.0M | 7.15% | |
| 199 | IWORussell 2000 Growth Index - iS | 1,951 | $372.0M | 6.87% | |
| 200 | EOGEOG Resources | 3,346 | $352.0M | 6.50% |