CONFLUENCE INVESTMENT MANAGEMENT LLC Q2 2018 Filing
Filed July 12, 2018
Portfolio Value
$5.7B
Holdings
312
Report Date
Q2 2018
Filing Type
13F-HR
All Holdings (312 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | —DowDuPont Inc | 2,202,498 | $145.2B | 2551.48% | |
| 2 | DEODiageo PLC | 975,401 | $140.5B | 2468.52% | |
| 3 | MSFTMicrosoft Corp. | 1,410,977 | $139.1B | 2445.11% | |
| 4 | PIIPolaris Industries | 1,132,105 | $138.3B | 2430.79% | |
| 5 | JNJJohnson & Johnson | 1,135,858 | $137.8B | 2422.07% | |
| 6 | PEPPepsico Inc. | 1,199,068 | $130.5B | 2294.10% | |
| 7 | NTRSNorthern Trust Corporation | 1,194,006 | $122.9B | 2158.93% | |
| 8 | PGRProgressive Corp. | 2,050,862 | $121.3B | 2131.81% | |
| 9 | PAYXPaychex Inc. | 1,763,199 | $120.5B | 2117.87% | |
| 10 | PXGBXPraxair Inc. | 753,557 | $119.2B | 2094.33% | |
| 11 | FASTFastenal Co. | 2,472,425 | $119.0B | 2091.21% | |
| 12 | RYNRayonier Inc. | 3,043,052 | $117.7B | 2069.02% | |
| 13 | CVXChevron Corp. | 915,778 | $115.8B | 2034.70% | |
| 14 | BKIEURBlack Knight Inc | 2,158,644 | $115.6B | 2031.41% | |
| 15 | MMM3M Company | 550,932 | $108.4B | 1904.60% | |
| 16 | KMIKinder Morgan Inc. | 5,832,739 | $103.1B | 1811.20% | |
| 17 | SOSouthern Company | 2,221,714 | $102.9B | 1808.11% | |
| 18 | BRBroadridge Financial Solutions | 893,232 | $102.8B | 1806.75% | |
| 19 | GGGGraco Inc. | 2,243,192 | $101.4B | 1782.61% | |
| 20 | MLMMartin Marietta Materials Inc. | 444,093 | $99.2B | 1742.92% | |
| 21 | CBChubb Corp | 778,543 | $98.9B | 1737.85% | |
| 22 | CLColgate-Palmolive Co. | 1,519,578 | $98.5B | 1730.71% | |
| 23 | IRMIron Mountain | 2,652,310 | $92.9B | 1631.83% | |
| 24 | FNFFidelity National Financial In | 2,428,545 | $91.4B | 1605.55% | |
| 25 | KHCKraft Heinz Co. | 1,446,990 | $90.9B | 1597.43% | |
| 26 | PFEPfizer Inc. | 2,456,219 | $89.1B | 1566.01% | |
| 27 | GILDGilead Sciences | 1,217,269 | $86.2B | 1515.38% | |
| 28 | ARCCAres Capital Corp. | 5,229,989 | $86.0B | 1511.92% | |
| 29 | WYWeyerhaeuser Co. | 2,315,637 | $84.4B | 1483.70% | |
| 30 | SYKStryker Corp. | 444,640 | $75.1B | 1319.46% | |
| 31 | MKLMarkel Corp. | 65,388 | $70.9B | 1246.02% | |
| 32 | FQIDigital Realty Trust Inc. | 621,289 | $69.3B | 1218.25% | |
| 33 | AXTAAxalta Coating Systems LTD | 2,201,529 | $66.7B | 1172.65% | |
| 34 | MAMastercard Inc. - A | 305,406 | $60.0B | 1054.73% | |
| 35 | —Allergan Inc. | 355,849 | $59.3B | 1042.58% | |
| 36 | CFRUYCompagnie Financiere Richemont | 6,991,231 | $58.9B | 1034.48% | |
| 37 | GSKGlaxoSmithKline Plc (Adr 1:2) | 1,444,856 | $58.2B | 1023.52% | |
| 38 | TJXTJX Companies | 608,395 | $57.9B | 1017.63% | |
| 39 | AIGAmerican International Group I | 1,086,700 | $57.6B | 1012.53% | |
| 40 | ADIAnalog Devices Inc. | 476,027 | $45.7B | 802.42% | |
| 41 | AXPAmerican Express Company | 460,245 | $45.1B | 792.64% | |
| 42 | NXPINXP Semiconductors N.V. | 378,515 | $41.4B | 726.84% | |
| 43 | SLBSchlumberger Ltd. | 616,303 | $41.3B | 725.98% | |
| 44 | UTXZUnited Technologies Corp. | 328,846 | $41.1B | 722.55% | |
| 45 | ITWIllinois Tool Works Inc. | 290,663 | $40.3B | 707.65% | |
| 46 | SPBSpectrum Brands Holdings Inc | 491,976 | $40.2B | 705.67% | |
| 47 | SBUXStarbucks Corporation | 779,491 | $38.1B | 669.16% | |
| 48 | MSMMSC Industrial Direct Co. Inc. | 440,267 | $37.4B | 656.49% | |
| 49 | TMOThermo Fisher Scientific Inc. | 163,663 | $33.9B | 595.76% | |
| 50 | BRK/BBerkshire Hathaway Inc. - B | 181,170 | $33.8B | 594.25% | |
| 51 | WRBW.R. Berkley Corp. | 466,667 | $33.8B | 593.83% | |
| 52 | —Natus Medical Inc. | 960,674 | $33.1B | 582.44% | |
| 53 | LOWLowe's Companies Inc. | 341,960 | $32.7B | 574.32% | |
| 54 | GOOGAlphabet Inc. - Class C | 27,885 | $31.1B | 546.69% | |
| 55 | BROBrown & Brown Inc. | 1,027,427 | $28.5B | 500.69% | |
| 56 | IEFiShares 7-10 Year Treasury Bon | 263,371 | $27.0B | 474.45% | |
| 57 | ORCLOracle Corporation | 585,507 | $25.8B | 453.34% | |
| 58 | HDHome Depot Inc. | 121,032 | $23.6B | 414.96% | |
| 59 | IVWS&P 500 Growth Index - iShares | 134,330 | $21.8B | 383.86% | |
| 60 | —MTS Systems Corp. | 405,877 | $21.4B | 375.55% | |
| 61 | ACNAccenture PLC | 128,396 | $21.0B | 369.11% | |
| 62 | TROWT. Rowe Price Group Inc. | 177,979 | $20.7B | 363.10% | |
| 63 | BDXBecton Dickinson and Company | 85,827 | $20.6B | 361.33% | |
| 64 | CBSHCommerce Bancshares Inc. | 308,534 | $20.0B | 350.86% | |
| 65 | NKENike Inc. - B | 243,097 | $19.4B | 340.40% | |
| 66 | MBBiShares MBS Bond ETF | 183,451 | $19.1B | 335.87% | |
| 67 | DISCKUSDDiscovery Communications Inc. | 726,906 | $18.5B | 325.74% | |
| 68 | NJRNew Jersey Resources Corp. | 409,412 | $18.3B | 321.96% | |
| 69 | MDTMedtronic | 210,747 | $18.0B | 317.06% | |
| 70 | AQLTiShares Corporate ex Financial | 761,347 | $17.9B | 315.22% | |
| 71 | TLTBarclays 20 Plus Year Treasury | 144,539 | $17.6B | 309.17% | |
| 72 | MCDMcDonald's Corp. | 111,888 | $17.5B | 308.10% | |
| 73 | SEICSEI Investments Company | 280,157 | $17.5B | 307.80% | |
| 74 | MORNMorningstar Inc. | 136,524 | $17.5B | 307.69% | |
| 75 | MTBM&T Bank Corp. | 102,266 | $17.4B | 305.80% | |
| 76 | MDUMDU Resources Group Inc. | 600,506 | $17.2B | 302.67% | |
| 77 | CLXThe Clorox Company | 123,544 | $16.7B | 293.64% | |
| 78 | DCIDonaldson Inc. | 369,212 | $16.7B | 292.76% | |
| 79 | LMTLockheed Martin Corp | 56,355 | $16.6B | 292.58% | |
| 80 | CFRCullen Frost Bankers Inc. | 151,628 | $16.4B | 288.42% | |
| 81 | PPGPPG Industries Inc. | 156,401 | $16.2B | 285.10% | |
| 82 | —Invesco BulletShares 2024 | 806,377 | $16.2B | 284.39% | |
| 83 | APDAir Products & Chemicals Inc. | 102,526 | $16.0B | 280.58% | |
| 84 | EXPDExpeditors International of Wa | 214,372 | $15.7B | 275.39% | |
| 85 | GDGeneral Dynamics Corp. | 82,586 | $15.4B | 270.54% | |
| 86 | XOMExxon Mobil Corp. | 179,861 | $14.9B | 261.49% | |
| 87 | NSRGYNestle SA | 191,144 | $14.8B | 260.09% | |
| 88 | SPIBSPDR Portfolio Intermediate Te | 434,157 | $14.5B | 253.99% | |
| 89 | IBDRiShares Corporate iBonds ETF 2 | 612,887 | $14.3B | 251.18% | |
| 90 | PGProcter & Gamble Company | 180,789 | $14.1B | 248.00% | |
| 91 | IVES&P 500 Value Index - iShares | 124,029 | $13.7B | 240.04% | |
| 92 | NVSNNovartis AG - ADR | 178,954 | $13.5B | 237.56% | |
| 93 | AQLTiShares Corporate Bond ETF 202 | 490,695 | $12.6B | 221.16% | |
| 94 | NMFCNew Mountain Finance Corp. | 916,771 | $12.5B | 219.11% | |
| 95 | GBDCGolub Capital BDC Inc. | 670,737 | $12.3B | 215.70% | |
| 96 | —Triangle Capital Corp. | 1,002,514 | $11.5B | 202.61% | |
| 97 | PDCOEURPatterson Companies Inc. | 496,017 | $11.2B | 197.61% | |
| 98 | —TCP Capital Corp. | 748,156 | $10.8B | 189.99% | |
| 99 | IJTS&P SmallCap 600 Growth Index | 57,215 | $10.8B | 189.99% | |
| 100 | JWNUSDNordstrom Inc. | 204,003 | $10.6B | 185.63% |
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