CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2019 Filing
Filed April 16, 2019
Portfolio Value
$5.9T
Holdings
294
Report Date
Q1 2019
Filing Type
13F-HR
All Holdings (294 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | DEODiageo PLC | 923,549 | $151.1B | 2.55% | |
| 2 | PEPPepsico Inc. | 1,204,906 | $147.7B | 2.50% | |
| 3 | MSFTMicrosoft Corp. | 1,156,196 | $136.4B | 2.30% | |
| 4 | PAYXPaychex Inc. | 1,680,785 | $134.8B | 2.28% | |
| 5 | NXPINXP Semiconductors N.V. | 1,505,308 | $133.1B | 2.25% | |
| 6 | LINLinde PLC | 722,676 | $126.6B | 2.14% | |
| 7 | NSRGYNestle SA | 1,303,971 | $124.3B | 2.10% | |
| 8 | FASTFastenal Co. | 1,811,176 | $116.5B | 1.97% | |
| 9 | SOSouthern Company | 2,235,695 | $115.5B | 1.95% | |
| 10 | MMM3M Company | 550,800 | $114.4B | 1.93% | |
| 11 | KMIKinder Morgan Inc. | 5,646,611 | $113.0B | 1.91% | |
| 12 | PGRProgressive Corp. | 1,543,926 | $111.3B | 1.88% | |
| 13 | CVXChevron Corp. | 902,403 | $111.2B | 1.88% | |
| 14 | GGGGraco Inc. | 2,237,604 | $110.8B | 1.87% | |
| 15 | CBChubb Corp | 788,641 | $110.5B | 1.87% | |
| 16 | —DowDuPont Inc | 2,055,556 | $109.6B | 1.85% | |
| 17 | NTRSNorthern Trust Corporation | 1,204,146 | $108.9B | 1.84% | |
| 18 | CLColgate-Palmolive Co. | 1,564,719 | $107.2B | 1.81% | |
| 19 | LMTLockheed Martin Corp | 348,533 | $104.6B | 1.77% | |
| 20 | PIIPolaris Industries | 1,153,620 | $97.4B | 1.65% | |
| 21 | PFEPfizer Inc. | 2,277,806 | $96.7B | 1.63% | |
| 22 | BRBroadridge Financial Solutions | 920,868 | $95.5B | 1.61% | |
| 23 | FQIDigital Realty Trust Inc. | 800,139 | $95.2B | 1.61% | |
| 24 | RYNRayonier Inc. | 2,989,353 | $94.2B | 1.59% | |
| 25 | MLMMartin Marietta Materials Inc. | 450,770 | $90.7B | 1.53% | |
| 26 | ETREntergy Corporation | 944,395 | $90.3B | 1.53% | |
| 27 | FNFFidelity National Financial In | 2,420,487 | $88.5B | 1.50% | |
| 28 | ARCCAres Capital Corp. | 5,089,223 | $87.2B | 1.47% | |
| 29 | USBUS Bancorp | 1,684,478 | $81.2B | 1.37% | |
| 30 | ADIAnalog Devices Inc. | 758,839 | $79.9B | 1.35% | |
| 31 | GILDGilead Sciences | 1,199,160 | $78.0B | 1.32% | |
| 32 | WYWeyerhaeuser Co. | 2,933,106 | $77.3B | 1.31% | |
| 33 | BKIEURBlack Knight Inc | 1,353,546 | $73.8B | 1.25% | |
| 34 | TIFEURTiffany & Co. | 616,872 | $65.1B | 1.10% | |
| 35 | MAMastercard Inc. - A | 271,079 | $63.8B | 1.08% | |
| 36 | SYKStryker Corp. | 317,434 | $62.7B | 1.06% | |
| 37 | SBUXStarbucks Corporation | 823,902 | $61.2B | 1.04% | |
| 38 | MKLMarkel Corp. | 56,974 | $56.8B | 0.96% | |
| 39 | TJXTJX Companies | 1,038,557 | $55.3B | 0.93% | |
| 40 | AXTAAxalta Coating Systems LTD | 1,984,144 | $50.0B | 0.85% | |
| 41 | FTDRFrontdoor Inc | 1,380,533 | $47.5B | 0.80% | |
| 42 | ITWIllinois Tool Works Inc. | 315,184 | $45.2B | 0.76% | |
| 43 | CFRUYCompagnie Financiere Richemont | 6,149,934 | $44.8B | 0.76% | |
| 44 | UTXZUnited Technologies Corp. | 346,703 | $44.7B | 0.76% | |
| 45 | AIGAmerican International Group I | 1,014,377 | $43.7B | 0.74% | |
| 46 | TMOThermo Fisher Scientific Inc. | 153,131 | $41.9B | 0.71% | |
| 47 | LOWLowe's Companies Inc. | 357,711 | $39.2B | 0.66% | |
| 48 | WRBW.R. Berkley Corp. | 456,293 | $38.7B | 0.65% | |
| 49 | GOOGAlphabet Inc. - Class C | 30,681 | $36.0B | 0.61% | |
| 50 | BAMBrookfield Asset Management In | 771,840 | $35.9B | 0.61% | |
| 51 | BRK/BBerkshire Hathaway Inc. - B | 177,299 | $35.6B | 0.60% | |
| 52 | BROBrown & Brown Inc. | 1,114,215 | $32.9B | 0.56% | |
| 53 | ORCLOracle Corporation | 597,636 | $32.1B | 0.54% | |
| 54 | MSMMSC Industrial Direct Co. Inc. | 354,281 | $29.3B | 0.50% | |
| 55 | SPBSpectrum Brands Holdings Inc | 527,143 | $28.9B | 0.49% | |
| 56 | IEFiShares 7-10 Year Treasury Bon | 266,685 | $28.4B | 0.48% | |
| 57 | JNJJohnson & Johnson | 192,101 | $26.9B | 0.45% | |
| 58 | CERNCHFCerner Corporation | 455,691 | $26.1B | 0.44% | |
| 59 | —Allergan Inc. | 168,641 | $24.7B | 0.42% | |
| 60 | ACNAccenture PLC | 138,944 | $24.5B | 0.41% | |
| 61 | HDHome Depot Inc. | 125,055 | $24.0B | 0.41% | |
| 62 | BDXBecton Dickinson and Company | 92,903 | $23.2B | 0.39% | |
| 63 | MCDMcDonald's Corp. | 121,731 | $23.1B | 0.39% | |
| 64 | APDAir Products & Chemicals Inc. | 116,422 | $22.2B | 0.38% | |
| 65 | NJRNew Jersey Resources Corp. | 445,841 | $22.2B | 0.38% | |
| 66 | NKENike Inc. - B | 261,739 | $22.0B | 0.37% | |
| 67 | CLXThe Clorox Company | 135,101 | $21.7B | 0.37% | |
| 68 | AXPAmerican Express Company | 197,145 | $21.5B | 0.36% | |
| 69 | FISFidelity National Information | 189,560 | $21.4B | 0.36% | |
| 70 | NVSNNovartis AG - ADR | 218,512 | $21.0B | 0.36% | |
| 71 | PGProcter & Gamble Company | 200,955 | $20.9B | 0.35% | |
| 72 | MDTMedtronic | 229,251 | $20.9B | 0.35% | |
| 73 | NDSNNordson Corporation | 157,459 | $20.9B | 0.35% | |
| 74 | GSKGlaxoSmithKline Plc (Adr 1:2) | 491,295 | $20.5B | 0.35% | |
| 75 | DCIDonaldson Inc. | 409,093 | $20.5B | 0.35% | |
| 76 | CBSHCommerce Bancshares Inc. | 350,058 | $20.3B | 0.34% | |
| 77 | PPGPPG Industries Inc. | 178,842 | $20.2B | 0.34% | |
| 78 | AWCAmerican Water Works Co. | 192,315 | $20.1B | 0.34% | |
| 79 | TROWT. Rowe Price Group Inc. | 199,882 | $20.0B | 0.34% | |
| 80 | SLBSchlumberger Ltd. | 457,932 | $20.0B | 0.34% | |
| 81 | IVWS&P 500 Growth Index - iShares | 112,876 | $19.5B | 0.33% | |
| 82 | EXPDExpeditors International of Wa | 251,592 | $19.1B | 0.32% | |
| 83 | IVES&P 500 Value Index - iShares | 168,701 | $19.0B | 0.32% | |
| 84 | MTBM&T Bank Corp. | 117,242 | $18.4B | 0.31% | |
| 85 | IJKS&P MidCap 400 Growth Index Fu | 83,280 | $18.2B | 0.31% | |
| 86 | IJJS&P MidCap 400 Value Index Fun | 112,567 | $17.7B | 0.30% | |
| 87 | XOMExxon Mobil Corp. | 216,786 | $17.5B | 0.30% | |
| 88 | SEICSEI Investments Company | 333,970 | $17.4B | 0.29% | |
| 89 | CFRCullen Frost Bankers Inc. | 178,763 | $17.4B | 0.29% | |
| 90 | JWNUSDNordstrom Inc. | 386,541 | $17.2B | 0.29% | |
| 91 | GDGeneral Dynamics Corp. | 98,877 | $16.7B | 0.28% | |
| 92 | MBBiShares MBS Bond ETF | 153,855 | $16.4B | 0.28% | |
| 93 | MORNMorningstar Inc. | 125,996 | $15.9B | 0.27% | |
| 94 | TLTBarclays 20 Plus Year Treasury | 120,373 | $15.2B | 0.26% | |
| 95 | SPIBSPDR Portfolio Intermediate Te | 431,439 | $14.7B | 0.25% | |
| 96 | IBDRiShares Corporate iBonds ETF 2 | 605,418 | $14.7B | 0.25% | |
| 97 | IBDTiShares iBonds Dec 2028 Term C | 498,829 | $13.0B | 0.22% | |
| 98 | BSMYInvesco BulletShares 2025 | 628,679 | $12.9B | 0.22% | |
| 99 | AQLTiShares Corporate Bond ETF 202 | 486,828 | $12.8B | 0.22% | |
| 100 | NMFCNew Mountain Finance Corp. | 924,957 | $12.6B | 0.21% |
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