CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2016 Filing

Filed November 4, 2016

Portfolio Value

$3.8T

Holdings

223

Report Date

Q3 2016

Filing Type

13F-HR

All Holdings (223 positions)

#StockSharesValue% PortfolioType
101
NKENike Inc. - B
162,275$8.5B0.22%
102
MBBiShares MBS Bond ETF
77,165$8.5B0.22%
103
TPVGTriplepoint Venture Growth BDC
744,583$7.9B0.21%
104
GOOGLAlphabet Inc. Class - A
9,807$7.9B0.21%
105
TFISPDR Nuveen Barclays Capital M
147,312$7.4B0.19%
106
IJJS&P MidCap 400 Value Index Fun
55,203$7.3B0.19%
107
TSLXUSDTPG Specialty Lending Inc Com
389,220$7.0B0.18%
108
iShares Corporate ex Financial
282,369$7.0B0.18%
109
IYWDow Jones US Technology - iSha
59,055$7.0B0.18%
110
PNNTPennantPark Investment Corp.
911,964$6.9B0.18%
111
CYS Investments Inc
774,326$6.8B0.18%
112
VCLTVanguard Long Term Corporate B
68,080$6.5B0.17%
113
PDCOEURPatterson Companies Inc.
128,221$5.9B0.15%
114
American Capital Ltd.
347,780$5.9B0.15%
115
IGIBiShares Interm. Term Corporate
52,293$5.8B0.15%
116
IJKS&P MidCap 400 Growth Index Fu
32,199$5.6B0.15%
117
REZiShares Residential Real Estat
84,527$5.5B0.14%
118
IWNRussell 2000 Value Index - iSh
52,279$5.5B0.14%
119
iShares iBonds Dec 2022 AMT-F
199,131$5.2B0.14%
120
IWPRussell Midcap Growth Index Fu
53,290$5.2B0.14%
121
IWORussell 2000 Growth Index - iS
34,620$5.2B0.13%
122
OFSOFS Capital Corp.
375,233$4.9B0.13%
123
Black Knight Financial Service
118,765$4.9B0.13%
124
IJTS&P SmallCap 600 Growth Index
34,166$4.7B0.12%
125
XLEEnergy Select Sector - SPDR
65,908$4.7B0.12%
126
VBKSmall Cap Growth - Vanguard ET
34,142$4.5B0.12%
127
MCCUSDMedley Capital Corp.
587,221$4.5B0.12%
128
MAINMain Street Capital Corp.
130,443$4.5B0.12%
129
SCMStellus Capital Investment
405,736$4.4B0.12%
130
Guggenheim BulletShares Corpor
205,245$4.4B0.11%
131
Guggenheim BulletShares Invest
200,885$4.3B0.11%
132
NLYEURAnnaly Capital Management Inc.
411,902$4.3B0.11%
133
Guggenheim BulletShares Invest
199,667$4.3B0.11%
134
Guggenheim BulletShares Corpor
197,080$4.3B0.11%
135
Guggenheim BulletShares Corpor
198,987$4.3B0.11%
136
IJSS&P SmallCap 600 Value Index F
33,962$4.2B0.11%
137
Guggenheim BulletShares Corpor
197,690$4.2B0.11%
138
IEIBarclays 3-7 Year Treasury Bon
32,815$4.2B0.11%
139
XLYConsumer Discret Select Sector
51,425$4.1B0.11%
140
GQ9Gold Shares - SPDR
31,846$4.0B0.10%
141
FSICUSDFS Investment Corp.
419,870$4.0B0.10%
142
VNQREIT Index - Vanguard
45,359$3.9B0.10%
143
VAREURVarian Medical Systems Inc.
38,371$3.8B0.10%
144
MUBiShares National AMT-Free Muni
31,176$3.5B0.09%
145
IGLBiShares 10+ Year Credit Bond E
55,254$3.5B0.09%
146
iShares iBonds Sep 2020 Amt Fr
135,018$3.5B0.09%
147
iShares iBonds Dec 2021 AMT-Fr
133,895$3.5B0.09%
148
VCA Antech Inc.
48,543$3.4B0.09%
149
HLTHilton Worldwide Holdings Inc
141,110$3.2B0.08%
150
Apollo Investment Corp.
551,102$3.2B0.08%
151
IYFDow Jones US Financial Sector
33,472$3.0B0.08%
152
SPYS&P 500 - SPDR
13,407$2.9B0.08%
153
JBTJohn Bean Technologies Corp.
40,200$2.8B0.07%
154
Natus Medical Inc
71,809$2.8B0.07%
155
GSBDGoldman Sachs BDC Inc.
128,679$2.8B0.07%
156
Monotype Imaging Holdings Inc
124,386$2.8B0.07%
157
XLVHealth Care Select Sector - SP
37,725$2.7B0.07%
158
XLFIConsumer Staples Select Sector
50,007$2.7B0.07%
159
XLIIndustrial Select Sector - SPD
45,266$2.6B0.07%
160
Raven Industries Inc
114,352$2.6B0.07%
161
Alcentra Capital Corporation
190,912$2.5B0.06%
162
Snyders-Lance Inc
72,721$2.4B0.06%
163
iShares iBonds Sep 2019 Amt Fr
94,788$2.4B0.06%
164
TECHTechne Corp.
21,675$2.4B0.06%
165
BKCCUSDBlackRock Kelso Capital Corp.
285,840$2.4B0.06%
166
BMRCBank of Marin (CA)
46,843$2.3B0.06%
167
FELEFranklin Electric Co. Inc.
57,181$2.3B0.06%
168
GOODGladstone Commercial Corp.
124,772$2.3B0.06%
169
Onebeacon Insurance Group Ltd
161,409$2.3B0.06%
170
PTBPotbelly Corp
182,836$2.3B0.06%
171
Halyard Health Inc
65,137$2.3B0.06%
172
MLIMueller Industries Inc.
69,273$2.2B0.06%
173
FWRDUSDForward Air Corp.
48,808$2.1B0.06%
174
THRThermon Group Holdings Inc
105,154$2.1B0.05%
175
PFLTPennantPark Floating Rate Capi
154,266$2.0B0.05%
176
HAEHaemonetics Corporation
56,190$2.0B0.05%
177
EXPOExponent Inc.
38,916$2.0B0.05%
178
CM Finance Inc
215,557$2.0B0.05%
179
LSTRLandstar System Inc.
25,288$1.7B0.04%
180
KCAP Financial Inc
340,472$1.6B0.04%
181
CODICompass Diversified Holdings
88,200$1.5B0.04%
182
Solar Senior Capital Ltd.
87,967$1.4B0.04%
183
NATLNational Interstate Corporatio
43,778$1.4B0.04%
184
GAINGladstone Investment Corp.
142,533$1.3B0.03%
185
RBCRBC Bearings Incorporated
16,163$1.2B0.03%
186
CULPCulp Inc.
40,062$1.2B0.03%
187
IAUUSDGold Trust - iShares
93,048$1.2B0.03%
188
BRK-BBerkshire Hathaway Inc. - Clas
5$1.1B0.03%
189
IGSBiShares Barclays 1-3 Year Inve
9,988$1.1B0.03%
190
Capstead Mortgage Corp.
110,509$1.0B0.03%
191
IVVS&P 500 Index Fund - iShares
4,645$1.0B0.03%
192
Capitala Finance Corp
66,295$869.0M0.02%
193
DLNWisdomTree LargeCap Dividend F
10,419$802.0M0.02%
194
FSPFranklin Street Properties Cor
60,000$756.0M0.02%
195
IDV*Dow Jones U.S. Select Dividend
13,950$418.0M0.01%
196
Piedmont Natural Gas Co. Inc.
6,581$395.0M0.01%
197
Manatuck Hill Mariner Offshore
2,813$385.0M0.01%
198
Silver Wheaton Corp.
14,192$384.0M0.01%
199
BUDAnheuser-Busch InBev SA/NV
2,690$353.0M0.01%
200
MFINMedallion Financial Corp
83,353$352.0M0.01%
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