CONFLUENCE INVESTMENT MANAGEMENT LLC Q4 2022 Filing
Filed January 4, 2023
Portfolio Value
$6.7T
Holdings
305
Report Date
Q4 2022
Filing Type
13F-HR
All Holdings (305 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | PEPPepsiCo Inc. | 1,032,149 | $186.5B | 2.78% | |
| 2 | PGRProgressive Corp. | 1,291,221 | $167.5B | 2.50% | |
| 3 | LMTLockheed Martin Corp. | 338,151 | $164.5B | 2.45% | |
| 4 | DEODiageo plc | 881,686 | $157.1B | 2.34% | |
| 5 | CBChubb Ltd. | 699,167 | $154.2B | 2.30% | |
| 6 | SNASnap-on Inc. | 655,676 | $149.8B | 2.24% | |
| 7 | PAYXPaychex Inc. | 1,279,791 | $147.9B | 2.21% | |
| 8 | CVXChevron Corp. | 820,638 | $147.3B | 2.20% | |
| 9 | LINLinde plc | 432,737 | $141.2B | 2.11% | |
| 10 | ADIAnalog Devices Inc. | 853,916 | $140.1B | 2.09% | |
| 11 | FASTFastenal Co. | 2,850,345 | $134.9B | 2.01% | |
| 12 | SOSouthern Co. | 1,882,833 | $134.5B | 2.01% | |
| 13 | HDHome Depot Inc. | 416,195 | $131.5B | 1.96% | |
| 14 | MSFTMicrosoft Corp. | 537,177 | $128.8B | 1.92% | |
| 15 | NSRGYNestle S.A. | 1,093,055 | $126.1B | 1.88% | |
| 16 | TROWT. Rowe Price Group Inc. | 1,110,166 | $121.1B | 1.81% | |
| 17 | CLColgate-Palmolive Co. | 1,497,399 | $118.0B | 1.76% | |
| 18 | GILDGilead Sciences Inc. | 1,345,997 | $115.6B | 1.72% | |
| 19 | PIIPolaris Inc. | 1,122,571 | $113.4B | 1.69% | |
| 20 | BRBroadridge Financial Solutions | 816,719 | $109.5B | 1.63% | |
| 21 | FNFFidelity National Financial In | 2,756,943 | $103.7B | 1.55% | |
| 22 | NTRSNorthern Trust Corp. | 1,160,092 | $102.7B | 1.53% | |
| 23 | ETREntergy Corp. | 899,484 | $101.2B | 1.51% | |
| 24 | 1939900DBrookfield Infrastructure Corp | 2,589,701 | $100.7B | 1.50% | |
| 25 | KMIKinder Morgan Inc. | 5,536,461 | $100.1B | 1.49% | |
| 26 | RYNRayonier Inc. | 2,964,479 | $97.7B | 1.46% | |
| 27 | CSCOCisco Systems Inc. | 2,019,638 | $96.2B | 1.44% | |
| 28 | WYWeyerhaeuser Co. | 2,951,672 | $91.5B | 1.37% | |
| 29 | DOWDow Inc. | 1,773,946 | $89.4B | 1.33% | |
| 30 | USBU.S. Bancorp | 1,980,111 | $86.4B | 1.29% | |
| 31 | ARCCAres Capital Corp. | 4,528,922 | $83.6B | 1.25% | |
| 32 | TJXTJX Cos. Inc. | 1,049,062 | $83.5B | 1.25% | |
| 33 | ORCLOracle Corp. | 952,330 | $77.8B | 1.16% | |
| 34 | MAMastercard Inc. | 217,719 | $75.7B | 1.13% | |
| 35 | FQIDigital Realty Trust Inc. | 750,094 | $75.2B | 1.12% | |
| 36 | SYKStryker Corp. | 306,775 | $75.0B | 1.12% | |
| 37 | SBUXStarbucks Corp. | 736,967 | $73.1B | 1.09% | |
| 38 | SLGSL Green Realty Corp. | 2,080,208 | $70.1B | 1.05% | |
| 39 | SPGIS&P Global Inc. | 209,155 | $70.1B | 1.05% | |
| 40 | GGGGraco Inc. | 1,025,353 | $69.0B | 1.03% | |
| 41 | RTXRaytheon Technologies Corp. | 634,278 | $64.0B | 0.96% | |
| 42 | MKLMarkel Corp. | 47,639 | $62.8B | 0.94% | |
| 43 | ITWIllinois Tool Works Inc. | 281,073 | $61.9B | 0.92% | |
| 44 | BRK/BBerkshire Hathaway Inc. - B | 198,537 | $61.3B | 0.92% | |
| 45 | LOWLowe's Cos. Inc. | 294,501 | $58.7B | 0.88% | |
| 46 | NXPINXP Semiconductors N.V. | 352,800 | $55.8B | 0.83% | |
| 47 | SPMBSPDR Portfolio Mortgage Backed | 2,496,970 | $54.2B | 0.81% | |
| 48 | TMOThermo Fisher Scientific Inc. | 97,926 | $53.9B | 0.80% | |
| 49 | MASMasco Corp. | 1,101,200 | $51.4B | 0.77% | |
| 50 | WRBW. R. Berkley Corp. | 646,010 | $46.9B | 0.70% | |
| 51 | GOOGAlphabet Inc. | 521,563 | $46.3B | 0.69% | |
| 52 | SHYBarclays 1-3 Year Treasury Bon | 523,551 | $42.5B | 0.63% | |
| 53 | HYBBiShares BB Rated Corporate Bon | 917,213 | $40.7B | 0.61% | |
| 54 | MDYVSPDR S&P 400 Mid Cap Value ETF | 621,493 | $40.2B | 0.60% | |
| 55 | NDSNNordson Corp. | 159,159 | $37.8B | 0.56% | |
| 56 | BNBrookfield Corp. | 1,192,739 | $37.5B | 0.56% | |
| 57 | BKNGBooking Holdings Inc. | 17,780 | $35.8B | 0.53% | |
| 58 | BROBrown & Brown Inc. | 595,193 | $33.9B | 0.51% | |
| 59 | IBTHiShares iBonds Dec 2027 Term T | 1,399,777 | $31.1B | 0.46% | |
| 60 | DNBDun & Bradstreet Holdings Inc. | 2,441,760 | $29.9B | 0.45% | |
| 61 | CLVTClarivate plc | 3,157,935 | $26.3B | 0.39% | |
| 62 | HSYHershey Co. | 107,464 | $24.9B | 0.37% | |
| 63 | APDAir Products and Chemicals Inc | 76,743 | $23.7B | 0.35% | |
| 64 | SCHWCharles Schwab Corp. | 274,315 | $22.8B | 0.34% | |
| 65 | MCDMcDonald's Corp. | 84,627 | $22.3B | 0.33% | |
| 66 | GDGeneral Dynamics Corp. | 88,467 | $21.9B | 0.33% | |
| 67 | NJRNew Jersey Resources Corp. | 439,040 | $21.8B | 0.33% | |
| 68 | CFRCullen/Frost Bankers Inc. | 159,576 | $21.3B | 0.32% | |
| 69 | PGProcter & Gamble Co. | 140,561 | $21.3B | 0.32% | |
| 70 | CBSHCommerce Bancshares Inc. | 303,571 | $20.7B | 0.31% | |
| 71 | AWCAmerican Water Works Co. Inc. | 133,649 | $20.4B | 0.30% | |
| 72 | IBHGiShares iBonds December 2030 T | 1,040,289 | $20.3B | 0.30% | |
| 73 | IBTGiShares iBonds Dec 2026 Term T | 892,501 | $20.3B | 0.30% | |
| 74 | APHAmphenol Corp. | 266,079 | $20.3B | 0.30% | |
| 75 | MDYGSPDR S&P 400 Mid Cap Growth ET | 309,048 | $20.2B | 0.30% | |
| 76 | SHWSherwin-Williams Co. | 84,792 | $20.1B | 0.30% | |
| 77 | EXPDExpeditors International of Wa | 190,978 | $19.8B | 0.30% | |
| 78 | IBDRiShares iBonds Dec 2026 Term C | 845,908 | $19.8B | 0.29% | |
| 79 | DCIDonaldson Co Inc. | 333,125 | $19.6B | 0.29% | |
| 80 | ROKRockwell Automation Inc. | 75,900 | $19.5B | 0.29% | |
| 81 | DLTRDollar Tree Inc. | 137,835 | $19.5B | 0.29% | |
| 82 | BDXBecton Dickinson and Co. | 76,525 | $19.5B | 0.29% | |
| 83 | NKENIKE Inc. | 163,947 | $19.2B | 0.29% | |
| 84 | —Leslie's Inc. | 1,421,426 | $17.4B | 0.26% | |
| 85 | MTBM&T Bank Corp. | 118,427 | $17.2B | 0.26% | |
| 86 | SLYVSPDR S&P 600 Small Cap Value E | 222,159 | $16.5B | 0.25% | |
| 87 | CLXClorox Co. | 117,417 | $16.5B | 0.25% | |
| 88 | GTESGates Industrial Corp. plc | 1,435,696 | $16.4B | 0.24% | |
| 89 | MORNMorningstar Inc. | 71,729 | $15.5B | 0.23% | |
| 90 | IUSViShares Core S&P US Value ETF | 215,125 | $15.2B | 0.23% | |
| 91 | MDTMedtronic plc | 185,772 | $14.4B | 0.22% | |
| 92 | KDPKeurig Dr. Pepper Inc. | 369,874 | $13.2B | 0.20% | |
| 93 | IBTEiShares iBonds Dec 2024 Term T | 545,228 | $13.0B | 0.19% | |
| 94 | FISFidelity National Information | 185,265 | $12.6B | 0.19% | |
| 95 | —SPDR Portfolio S&P 500 Value E | 309,274 | $12.0B | 0.18% | |
| 96 | JJSFJ & J Snack Foods Corp. | 79,867 | $12.0B | 0.18% | |
| 97 | SPBSpectrum Brands Holdings Inc. | 192,739 | $11.7B | 0.18% | |
| 98 | SPYSPDR S&P 500 ETF | 29,916 | $11.4B | 0.17% | |
| 99 | DFNMDimensional National Municipal | 237,073 | $11.3B | 0.17% | |
| 100 | BKIEURBlack Knight Inc. | 182,905 | $11.3B | 0.17% |
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