CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2019 Filing

Filed April 16, 2019

Portfolio Value

$5.9B

Holdings

294

Report Date

Q1 2019

Filing Type

13F-HR

All Holdings (294 positions)

StockValue
DEODiageo PLC
$151.1M
PEPPepsico Inc.
$147.7M
MSFTMicrosoft Corp.
$136.4M
PAYXPaychex Inc.
$134.8M
NXPINXP Semiconductors N.V.
$133.1M
LINLinde PLC
$126.6M
NSRGYNestle SA
$124.3M
FASTFastenal Co.
$116.5M
SOSouthern Company
$115.5M
MMM3M Company
$114.4M
KMIKinder Morgan Inc.
$113.0M
PGRProgressive Corp.
$111.3M
CVXChevron Corp.
$111.2M
GGGGraco Inc.
$110.8M
CBChubb Corp
$110.5M
DowDuPont Inc
$109.6M
NTRSNorthern Trust Corporation
$108.9M
CLColgate-Palmolive Co.
$107.2M
LMTLockheed Martin Corp
$104.6M
PIIPolaris Industries
$97.4M
PFEPfizer Inc.
$96.7M
BRBroadridge Financial Solutions
$95.5M
FQIDigital Realty Trust Inc.
$95.2M
RYNRayonier Inc.
$94.2M
MLMMartin Marietta Materials Inc.
$90.7M
ETREntergy Corporation
$90.3M
FNFFidelity National Financial In
$88.5M
ARCCAres Capital Corp.
$87.2M
USBUS Bancorp
$81.2M
ADIAnalog Devices Inc.
$79.9M
GILDGilead Sciences
$78.0M
WYWeyerhaeuser Co.
$77.3M
BKIEURBlack Knight Inc
$73.8M
TIFEURTiffany & Co.
$65.1M
MAMastercard Inc. - A
$63.8M
SYKStryker Corp.
$62.7M
SBUXStarbucks Corporation
$61.2M
MKLMarkel Corp.
$56.8M
TJXTJX Companies
$55.3M
AXTAAxalta Coating Systems LTD
$50.0M
FTDRFrontdoor Inc
$47.5M
ITWIllinois Tool Works Inc.
$45.2M
CFRUYCompagnie Financiere Richemont
$44.8M
UTXZUnited Technologies Corp.
$44.7M
AIGAmerican International Group I
$43.7M
TMOThermo Fisher Scientific Inc.
$41.9M
LOWLowe's Companies Inc.
$39.2M
WRBW.R. Berkley Corp.
$38.7M
GOOGAlphabet Inc. - Class C
$36.0M
BAMBrookfield Asset Management In
$35.9M
BRK/BBerkshire Hathaway Inc. - B
$35.6M
BROBrown & Brown Inc.
$32.9M
ORCLOracle Corporation
$32.1M
MSMMSC Industrial Direct Co. Inc.
$29.3M
SPBSpectrum Brands Holdings Inc
$28.9M
IEFiShares 7-10 Year Treasury Bon
$28.4M
JNJJohnson & Johnson
$26.9M
CERNCHFCerner Corporation
$26.1M
Allergan Inc.
$24.7M
ACNAccenture PLC
$24.5M
HDHome Depot Inc.
$24.0M
BDXBecton Dickinson and Company
$23.2M
MCDMcDonald's Corp.
$23.1M
APDAir Products & Chemicals Inc.
$22.2M
NJRNew Jersey Resources Corp.
$22.2M
NKENike Inc. - B
$22.0M
CLXThe Clorox Company
$21.7M
AXPAmerican Express Company
$21.5M
FISFidelity National Information
$21.4M
NVSNNovartis AG - ADR
$21.0M
PGProcter & Gamble Company
$20.9M
MDTMedtronic
$20.9M
NDSNNordson Corporation
$20.9M
GSKGlaxoSmithKline Plc (Adr 1:2)
$20.5M
DCIDonaldson Inc.
$20.5M
CBSHCommerce Bancshares Inc.
$20.3M
PPGPPG Industries Inc.
$20.2M
AWCAmerican Water Works Co.
$20.1M
TROWT. Rowe Price Group Inc.
$20.0M
SLBSchlumberger Ltd.
$20.0M
IVWS&P 500 Growth Index - iShares
$19.5M
EXPDExpeditors International of Wa
$19.1M
IVES&P 500 Value Index - iShares
$19.0M
MTBM&T Bank Corp.
$18.4M
IJKS&P MidCap 400 Growth Index Fu
$18.2M
IJJS&P MidCap 400 Value Index Fun
$17.7M
XOMExxon Mobil Corp.
$17.5M
SEICSEI Investments Company
$17.4M
CFRCullen Frost Bankers Inc.
$17.4M
JWNUSDNordstrom Inc.
$17.2M
GDGeneral Dynamics Corp.
$16.7M
MBBiShares MBS Bond ETF
$16.4M
MORNMorningstar Inc.
$15.9M
TLTBarclays 20 Plus Year Treasury
$15.2M
SPIBSPDR Portfolio Intermediate Te
$14.7M
IBDRiShares Corporate iBonds ETF 2
$14.7M
IBDTiShares iBonds Dec 2028 Term C
$13.0M
BSMYInvesco BulletShares 2025
$12.9M
AQLTiShares Corporate Bond ETF 202
$12.8M
NMFCNew Mountain Finance Corp.
$12.6M
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