CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2017 Filing

Filed October 13, 2017

Portfolio Value

$5.2T

Holdings

239

Report Date

Q3 2017

Filing Type

13F-HR

All Holdings (239 positions)

#StockSharesValue% PortfolioType
101
TPVGTriplePoint Venture Growth BDC
696,313$9.3B0.18%
102
iShares Corporate ex Financial
377,753$9.3B0.18%
103
TFISPDR Nuveen Barclays Capital M
190,221$9.3B0.18%
104
MLNVanEck Vectors Long Municipal
461,946$9.2B0.18%
105
IJJS&P MidCap 400 Value Index Fun
56,496$8.6B0.17%
106
IGIBiShares Interm. Term Corporate
77,808$8.6B0.16%
107
IJKS&P MidCap 400 Growth Index Fu
41,586$8.4B0.16%
108
CYS Investments Inc
911,826$7.9B0.15%
109
IYWDow Jones US Technology - iSha
50,367$7.6B0.14%
110
TSLXUSDTPG Specialty Lending, Inc.
359,103$7.5B0.14%
111
IJTS&P SmallCap 600 Growth Index
45,732$7.5B0.14%
112
SCMStellus Capital Investment
532,605$7.3B0.14%
113
Triangle Capital Corp.
498,445$7.1B0.14%
114
PNNTPennantPark Investment Corp.
919,909$6.9B0.13%
115
IJSS&P SmallCap 600 Value Index F
45,826$6.8B0.13%
116
iShares iBonds Dec 2021 AMT-Fr
255,801$6.6B0.13%
117
iShares iBonds Dec 2022 AMT-F
252,394$6.6B0.13%
118
VWOVanguard MSCI Emerging Markets
149,987$6.5B0.13%
119
XLVHealth Care Select Sector - SP
77,282$6.3B0.12%
120
ACWXiShares MSCI ACWI EX US ETF
125,369$6.1B0.12%
121
NLYEURAnnaly Capital Management Inc.
485,902$5.9B0.11%
122
OFSOFS Capital Corp.
439,898$5.8B0.11%
123
Guggenheim BulletShares Invest
264,303$5.7B0.11%
124
Guggenheim BulletShares Invest
263,779$5.6B0.11%
125
Guggenheim BulletShares Invest
261,895$5.6B0.11%
126
Guggenheim BulletShares Corpor
264,259$5.6B0.11%
127
FSICUSDFS Investment Corp.
663,535$5.6B0.11%
128
VAREURVarian Medical Systems Inc.
53,321$5.3B0.10%
129
MUBiShares National AMT-Free Muni
46,277$5.1B0.10%
130
IYFDow Jones US Financial Sector
45,352$5.1B0.10%
131
XLIIndustrial Select Sector - SPD
69,868$5.0B0.10%
132
IPHSEURInnophos Holdings Inc
93,494$4.6B0.09%
133
BMRCBank of Marin (CA)
67,019$4.6B0.09%
134
Halyard Health Inc.
101,454$4.6B0.09%
135
Raven Industries Inc.
139,150$4.5B0.09%
136
FWRDUSDForward Air Corp.
77,542$4.4B0.08%
137
MOVMovado Group Inc.
158,172$4.4B0.08%
138
iShares iBonds Sep 2020 Amt Fr
172,180$4.4B0.08%
139
LQDiShares iBoxx Corporate Bond E
35,575$4.3B0.08%
140
SAMThe Boston Beer Company Inc.
26,682$4.2B0.08%
141
CULPCulp Inc.
125,156$4.1B0.08%
142
XLYConsumer Discret Select Sector
45,484$4.1B0.08%
143
THRThermon Group Holdings Inc.
226,006$4.1B0.08%
144
Luxoft Holding Inc
83,849$4.0B0.08%
145
VBTXVeritex Holdings
146,423$3.9B0.08%
146
MAINMain Street Capital Corp.
98,998$3.9B0.08%
147
SPYS&P 500 - SPDR
15,634$3.9B0.08%
148
HLTHilton Worldwide Holdings Inc.
55,478$3.9B0.07%
149
Monotype Imaging Holdings Inc.
198,990$3.8B0.07%
150
PTBPotbelly Corp.
307,129$3.8B0.07%
151
Guggenheim BulletShares Invest
181,472$3.8B0.07%
152
TECHTechne Corp.
31,148$3.8B0.07%
153
FELEFranklin Electric Co. Inc.
79,119$3.5B0.07%
154
RMAXRE/MAX Holdings Inc.
55,623$3.5B0.07%
155
MCCUSDMedley Capital Corp.
587,221$3.5B0.07%
156
GSBDGoldman Sachs BDC Inc.
150,528$3.4B0.07%
157
Apollo Investment Corp.
551,102$3.4B0.06%
158
REZiShares Residential Real Estat
52,676$3.4B0.06%
159
GOOGLAlphabet Inc. - Class A
3,295$3.2B0.06%
160
iShares iBonds Sep 2019 Amt Fr
120,676$3.1B0.06%
161
Snyder's-Lance Inc.
79,461$3.0B0.06%
162
RBCRBC Bearings Incorporated
23,757$3.0B0.06%
163
VCLTVanguard Long Term Corporate B
30,925$2.9B0.06%
164
STTBarclays Capital High Yield Bo
75,705$2.8B0.05%
165
HYGHigh Yield Corporate Bond Fund
31,749$2.8B0.05%
166
JBTJohn Bean Technologies Corp.
27,540$2.8B0.05%
167
VREXVarex Imaging Corp
78,491$2.7B0.05%
168
Alcentra Capital Corporation
247,583$2.7B0.05%
169
IWNRussell 2000 Value Index - iSh
20,258$2.5B0.05%
170
PFLTPennantPark Floating Rate Capi
171,462$2.5B0.05%
171
VGKEuropean ETF - Vanguard
40,272$2.3B0.04%
172
XLEEnergy Select Sector - SPDR
31,417$2.2B0.04%
173
CM Finance Inc.
221,051$2.1B0.04%
174
SPTISPDR Barclays Intermediate Ter
32,118$1.9B0.04%
175
IWORussell 2000 Growth Index - iS
10,088$1.8B0.03%
176
XLFIConsumer Staples Select Sector
31,778$1.7B0.03%
177
Capitala Finance Corp.
163,916$1.6B0.03%
178
EXPOExponent Inc.
19,585$1.4B0.03%
179
BRK-BBerkshire Hathaway Inc. - Clas
5$1.4B0.03%
180
Solar Senior Capital Ltd.
79,159$1.4B0.03%
181
AQLTiShares Muni Bond 2023
52,451$1.3B0.03%
182
IGSBiShares Barclays 1-3 Year Inve
12,227$1.3B0.02%
183
IDUDow Jones US Utilities - iShar
9,601$1.3B0.02%
184
KCAP Financial Inc
340,472$1.2B0.02%
185
XLBMaterials Select Sector - SPDR
21,693$1.2B0.02%
186
ITGartner Inc
9,380$1.2B0.02%
187
IAUUSDiShares Gold Trust
88,786$1.1B0.02%
188
Capstead Mortgage Corp.
110,509$1.1B0.02%
189
VNQREIT Index - Vanguard
12,532$1.0B0.02%
190
FSPFranklin Street Properties Cor
80,000$850.0M0.02%
191
JPMJP Morgan Chase & Company
7,184$686.0M0.01%
192
VVisa, Inc. - A
6,507$685.0M0.01%
193
IVVS&P 500 Index Fund - iShares
2,621$663.0M0.01%
194
IVES&P 500 Value Index - iShares
5,762$622.0M0.01%
195
IVWS&P 500 Growth Index - iShares
3,850$552.0M0.01%
196
QCOMQualcomm Inc.
10,504$545.0M0.01%
197
IWPRussell Midcap Growth Index Fu
4,455$504.0M0.01%
198
Snyder's-Lance Inc.
12,091$461.0M0.01%
199
DLNWisdomTree LargeCap Dividend F
5,077$441.0M0.01%
200
BROBrown & Brown Inc.
8,745$421.0M0.01%
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