CONFLUENCE INVESTMENT MANAGEMENT LLC Q2 2023 Filing

Filed July 3, 2023

Portfolio Value

$6.9B

Holdings

298

Report Date

Q2 2023

Filing Type

13F-HR

All Holdings (298 positions)

StockValue
PEPPepsiCo Inc.
$184.0M
SNASnap-on Inc.
$183.2M
MSFTMicrosoft Corp.
$180.2M
ADIAnalog Devices Inc.
$161.9M
FASTFastenal Co.
$161.7M
PGRProgressive Corp.
$161.0M
LINLinde plc
$158.7M
LMTLockheed Martin Corp.
$152.4M
DEODiageo plc
$148.6M
PAYXPaychex Inc.
$141.1M
PIIPolaris Inc.
$134.8M
BRBroadridge Financial Solutions
$132.9M
CBChubb Ltd.
$131.7M
SOSouthern Co.
$130.7M
NSRGYNestle S.A.
$129.9M
HDHome Depot Inc.
$128.2M
CVXChevron Corp.
$127.1M
TROWT. Rowe Price Group Inc.
$124.2M
1939900DBrookfield Infrastructure Corp
$116.5M
CLColgate-Palmolive Co.
$115.1M
CSCOCisco Systems Inc.
$103.3M
GILDGilead Sciences Inc.
$100.8M
WYWeyerhaeuser Co.
$98.3M
FNFFidelity National Financial In
$98.0M
DOWDow Inc.
$95.3M
RYNRayonier Inc.
$91.7M
NTRSNorthern Trust Corp.
$87.5M
FQIDigital Realty Trust Inc.
$86.9M
SYKStryker Corp.
$86.8M
ETREntergy Corp.
$86.5M
GGGGraco Inc.
$85.1M
KMIKinder Morgan Inc.
$84.3M
TJXTJX Cos. Inc.
$83.7M
ARCCAres Capital Corp.
$83.6M
MAMastercard Inc.
$81.8M
SPGIS&P Global Inc.
$80.8M
ORCLOracle Corp.
$73.1M
SBUXStarbucks Corp.
$70.4M
USBU.S. Bancorp
$68.1M
NXPINXP Semiconductors N.V.
$66.4M
ITWIllinois Tool Works Inc.
$65.3M
BRK/BBerkshire Hathaway Inc. - B
$62.3M
MASMasco Corp.
$61.8M
LOWLowe's Cos. Inc.
$61.1M
MKLMarkel Corp. Inc.
$59.9M
RTXRaytheon Technologies Corp.
$58.9M
GOOGAlphabet Inc.
$58.8M
SPMBSPDR Portfolio Mortgage Backed
$51.5M
SPDWSPDR Portfolio Developed World
$47.9M
TMOThermo Fisher Scientific Inc.
$47.4M
BNBrookfield Corp.
$47.1M
BROBrown & Brown Inc.
$41.8M
MDYVSPDR S&P 400 Mid Cap Value ETF
$41.7M
BKNGBooking Holdings Inc.
$40.4M
NDSNNordson Corp.
$40.1M
KEYSKeysight Technologies Inc.
$37.7M
WRBW. R. Berkley Corp.
$37.3M
MDYGSPDR S&P 400 Mid Cap Growth ET
$36.2M
CLVTClarivate plc
$33.0M
DNBDun & Bradstreet Holdings Inc.
$32.1M
IBTHiShares iBonds Dec 2027 Term T
$31.8M
XMHQInvesco S&P MidCap Quality ETF
$27.1M
HSYHershey Co.
$26.5M
SHYBarclays 1-3 Year Treasury Bon
$26.0M
ROKRockwell Automation Inc.
$25.6M
MCDMcDonald's Corp.
$25.6M
GLDMSPDR Gold MiniShares Trust ETF
$24.7M
EXPDExpeditors International of Wa
$23.8M
APDAir Products and Chemicals Inc
$23.5M
SHWSherwin-Williams Co.
$23.4M
APHAmphenol Corp.
$23.3M
ECLEcolab Inc.
$22.8M
EOGEOG Resources Inc.
$22.4M
PGProcter & Gamble Co.
$22.0M
DCIDonaldson Co. Inc.
$21.4M
HYBBiShares BB Rated Corporate Bon
$21.3M
NJRNew Jersey Resources Corp.
$21.1M
BDXBecton Dickinson and Co.
$21.0M
IBDRiShares iBonds Dec 2026 Term C
$20.9M
IBTGiShares iBonds Dec 2026 Term T
$20.8M
WECWEC Energy Group Inc.
$20.0M
AWCAmerican Water Works Co. Inc.
$19.8M
GDGeneral Dynamics Corp.
$19.7M
CLXClorox Co.
$19.7M
GTESGates Industrial Corp. plc
$19.4M
NKENIKE Inc.
$18.8M
DLTRDollar Tree Inc.
$18.6M
MDTMedtronic plc
$18.0M
CALFPacer US Small Cap Cash Cows 1
$17.8M
CRLCharles River Laboratories Int
$17.7M
IBHGiShares iBonds December 2030 T
$16.8M
SPYSPDR S&P 500 ETF
$15.1M
Leslie's Inc.
$15.1M
MORNMorningstar Inc.
$15.0M
SPBSpectrum Brands Holdings Inc.
$14.7M
AZEKAzek Co. Inc.
$13.3M
IBTEiShares iBonds Dec 2024 Term T
$12.6M
SPDR Portfolio S&P 500 Value E
$12.3M
FISFidelity National Information
$12.3M
RMAXRE/MAX Holdings Inc.
$12.2M
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