CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2018 Filing
Filed October 25, 2018
Portfolio Value
$5.9T
Holdings
310
Report Date
Q3 2018
Filing Type
13F-HR
All Holdings (310 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | JNJJohnson & Johnson | 1,124,316 | $155.3B | 2.65% | |
| 2 | MSFTMicrosoft Corp. | 1,286,103 | $147.1B | 2.51% | |
| 3 | PGRProgressive Corp. | 1,947,122 | $138.3B | 2.36% | |
| 4 | FASTFastenal Co. | 2,375,477 | $137.8B | 2.35% | |
| 5 | DEODiageo PLC | 957,278 | $135.6B | 2.31% | |
| 6 | —DowDuPont Inc | 2,102,028 | $135.2B | 2.30% | |
| 7 | PEPPepsico Inc. | 1,199,144 | $134.1B | 2.28% | |
| 8 | NXPINXP Semiconductors N.V. | 1,514,994 | $129.5B | 2.21% | |
| 9 | PAYXPaychex Inc. | 1,729,152 | $127.4B | 2.17% | |
| 10 | PXGBXPraxair Inc. | 759,462 | $122.1B | 2.08% | |
| 11 | NTRSNorthern Trust Corporation | 1,169,688 | $119.5B | 2.04% | |
| 12 | MMM3M Company | 545,786 | $115.0B | 1.96% | |
| 13 | PIIPolaris Industries | 1,121,878 | $113.3B | 1.93% | |
| 14 | CVXChevron Corp. | 906,382 | $110.8B | 1.89% | |
| 15 | PFEPfizer Inc. | 2,381,204 | $104.9B | 1.79% | |
| 16 | CBChubb Corp | 775,424 | $103.6B | 1.77% | |
| 17 | CLColgate-Palmolive Co. | 1,524,278 | $102.0B | 1.74% | |
| 18 | KMIKinder Morgan Inc. | 5,729,257 | $101.6B | 1.73% | |
| 19 | RYNRayonier Inc. | 2,969,831 | $100.4B | 1.71% | |
| 20 | GGGGraco Inc. | 2,127,710 | $98.6B | 1.68% | |
| 21 | BKIEURBlack Knight Inc | 1,883,870 | $97.9B | 1.67% | |
| 22 | SOSouthern Company | 2,205,302 | $96.2B | 1.64% | |
| 23 | FNFFidelity National Financial In | 2,380,625 | $93.7B | 1.60% | |
| 24 | GILDGilead Sciences | 1,191,933 | $92.0B | 1.57% | |
| 25 | IRMIron Mountain | 2,594,949 | $89.6B | 1.53% | |
| 26 | BRBroadridge Financial Solutions | 673,289 | $88.8B | 1.51% | |
| 27 | ARCCAres Capital Corp. | 5,154,926 | $88.6B | 1.51% | |
| 28 | WYWeyerhaeuser Co. | 2,682,192 | $86.6B | 1.48% | |
| 29 | MLMMartin Marietta Materials Inc. | 447,331 | $81.4B | 1.39% | |
| 30 | KHCKraft Heinz Co. | 1,417,291 | $78.1B | 1.33% | |
| 31 | MKLMarkel Corp. | 61,467 | $73.1B | 1.25% | |
| 32 | FQIDigital Realty Trust Inc. | 606,404 | $68.2B | 1.16% | |
| 33 | TJXTJX Companies | 585,222 | $65.6B | 1.12% | |
| 34 | —Allergan Inc. | 335,855 | $64.0B | 1.09% | |
| 35 | NSRGYNestle SA | 751,550 | $63.0B | 1.07% | |
| 36 | MAMastercard Inc. - A | 274,256 | $61.1B | 1.04% | |
| 37 | AXTAAxalta Coating Systems LTD | 2,083,128 | $60.7B | 1.04% | |
| 38 | SYKStryker Corp. | 313,004 | $55.6B | 0.95% | |
| 39 | AIGAmerican International Group I | 1,032,205 | $55.0B | 0.94% | |
| 40 | CFRUYCompagnie Financiere Richemont | 6,552,606 | $53.7B | 0.91% | |
| 41 | AXPAmerican Express Company | 449,762 | $47.9B | 0.82% | |
| 42 | SBUXStarbucks Corporation | 825,908 | $46.9B | 0.80% | |
| 43 | UTXZUnited Technologies Corp. | 335,053 | $46.8B | 0.80% | |
| 44 | ADIAnalog Devices Inc. | 472,879 | $43.7B | 0.75% | |
| 45 | ITWIllinois Tool Works Inc. | 299,818 | $42.3B | 0.72% | |
| 46 | TMOThermo Fisher Scientific Inc. | 162,054 | $39.6B | 0.67% | |
| 47 | LOWLowe's Companies Inc. | 339,907 | $39.0B | 0.67% | |
| 48 | SLBSchlumberger Ltd. | 637,500 | $38.8B | 0.66% | |
| 49 | BRK/BBerkshire Hathaway Inc. - B | 181,100 | $38.8B | 0.66% | |
| 50 | WRBW.R. Berkley Corp. | 468,632 | $37.5B | 0.64% | |
| 51 | GSKGlaxoSmithKline Plc (Adr 1:2) | 897,510 | $36.1B | 0.61% | |
| 52 | MSMMSC Industrial Direct Co. Inc. | 401,841 | $35.4B | 0.60% | |
| 53 | SPBSpectrum Brands Holdings Inc | 451,709 | $33.8B | 0.58% | |
| 54 | GOOGAlphabet Inc. - Class C | 27,762 | $33.1B | 0.56% | |
| 55 | BROBrown & Brown Inc. | 1,063,933 | $31.5B | 0.54% | |
| 56 | —Natus Medical Inc. | 872,002 | $31.1B | 0.53% | |
| 57 | ORCLOracle Corporation | 594,551 | $30.7B | 0.52% | |
| 58 | IEFiShares 7-10 Year Treasury Bon | 258,168 | $26.1B | 0.45% | |
| 59 | HDHome Depot Inc. | 121,935 | $25.3B | 0.43% | |
| 60 | —MTS Systems Corp. | 424,811 | $23.3B | 0.40% | |
| 61 | BDXBecton Dickinson and Company | 87,567 | $22.9B | 0.39% | |
| 62 | IVWS&P 500 Growth Index - iShares | 126,900 | $22.5B | 0.38% | |
| 63 | ACNAccenture PLC | 131,478 | $22.4B | 0.38% | |
| 64 | DCIDonaldson Inc. | 381,307 | $22.2B | 0.38% | |
| 65 | MDTMedtronic | 216,611 | $21.3B | 0.36% | |
| 66 | NKENike Inc. - B | 247,349 | $21.0B | 0.36% | |
| 67 | CBSHCommerce Bancshares Inc. | 314,952 | $20.8B | 0.35% | |
| 68 | LMTLockheed Martin Corp | 59,031 | $20.4B | 0.35% | |
| 69 | TROWT. Rowe Price Group Inc. | 182,119 | $19.9B | 0.34% | |
| 70 | MCDMcDonald's Corp. | 116,549 | $19.5B | 0.33% | |
| 71 | NJRNew Jersey Resources Corp. | 422,428 | $19.5B | 0.33% | |
| 72 | CLXThe Clorox Company | 128,177 | $19.3B | 0.33% | |
| 73 | MBBiShares MBS Bond ETF | 180,669 | $18.7B | 0.32% | |
| 74 | BAMBrookfield Asset Management In | 402,710 | $17.9B | 0.31% | |
| 75 | APDAir Products & Chemicals Inc. | 107,074 | $17.9B | 0.30% | |
| 76 | SEICSEI Investments Company | 292,472 | $17.9B | 0.30% | |
| 77 | GDGeneral Dynamics Corp. | 86,991 | $17.8B | 0.30% | |
| 78 | PPGPPG Industries Inc. | 162,008 | $17.7B | 0.30% | |
| 79 | MTBM&T Bank Corp. | 106,411 | $17.5B | 0.30% | |
| 80 | AQLTiShares Corporate ex Financial | 743,198 | $17.5B | 0.30% | |
| 81 | TLTBarclays 20 Plus Year Treasury | 143,235 | $16.8B | 0.29% | |
| 82 | EXPDExpeditors International of Wa | 226,702 | $16.7B | 0.28% | |
| 83 | CFRCullen Frost Bankers Inc. | 158,846 | $16.6B | 0.28% | |
| 84 | NVSNNovartis AG - ADR | 189,895 | $16.4B | 0.28% | |
| 85 | XOMExxon Mobil Corp. | 190,804 | $16.2B | 0.28% | |
| 86 | MDUMDU Resources Group Inc. | 628,177 | $16.1B | 0.28% | |
| 87 | —Invesco BulletShares 2024 | 790,535 | $15.9B | 0.27% | |
| 88 | PGProcter & Gamble Company | 190,866 | $15.9B | 0.27% | |
| 89 | MORNMorningstar Inc. | 121,142 | $15.3B | 0.26% | |
| 90 | IVES&P 500 Value Index - iShares | 122,869 | $14.2B | 0.24% | |
| 91 | SPIBSPDR Portfolio Intermediate Te | 423,672 | $14.1B | 0.24% | |
| 92 | IBDRiShares Corporate iBonds ETF 2 | 598,837 | $13.9B | 0.24% | |
| 93 | —Invesco BulletShares 2021 | 622,130 | $12.9B | 0.22% | |
| 94 | GBDCGolub Capital BDC Inc. | 670,737 | $12.6B | 0.21% | |
| 95 | NMFCNew Mountain Finance Corp. | 916,914 | $12.4B | 0.21% | |
| 96 | PDCOEURPatterson Companies Inc. | 505,341 | $12.4B | 0.21% | |
| 97 | IJTS&P SmallCap 600 Growth Index | 61,210 | $12.3B | 0.21% | |
| 98 | JWNUSDNordstrom Inc. | 206,057 | $12.3B | 0.21% | |
| 99 | HTGCHercules Technology Growth Cap | 826,033 | $10.9B | 0.19% | |
| 100 | —TCP Capital Corp. | 746,784 | $10.6B | 0.18% |
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