Confluence Investment Management as of March 31, 2012
Portfolio Holdings for Confluence Investment Management
Confluence Investment Management holds 222 positions in its portfolio as reported in the March 2012 quarterly 13F filing
| Company (Ticker) | Portfolio Weight | Valued At | Change in Shares | Share Count | Share Price |
|---|---|---|---|---|---|
| SPDR Barclays Capital High Yield B | 2.6 | $27M | 684k | 39.37 | |
| Ares Capital Corporation (ARCC) | 2.6 | $27M | 1.6M | 16.35 | |
| iShares iBoxx $ High Yid Corp Bond (HYG) | 2.4 | $25M | 271k | 90.72 | |
| Microsoft Corporation (MSFT) | 2.2 | $22M | 678k | 32.25 | |
| Chevron Corporation (CVX) | 2.0 | $20M | 188k | 107.21 | |
| Diageo (DEO) | 1.8 | $19M | 194k | 96.50 | |
| Johnson & Johnson (JNJ) | 1.8 | $19M | 282k | 65.96 | |
| Vanguard REIT ETF (VNQ) | 1.8 | $18M | 286k | 63.65 | |
| Pepsi (PEP) | 1.8 | $18M | 270k | 66.35 | |
| Emerson Electric (EMR) | 1.7 | $17M | 334k | 52.18 | |
| iShares IBoxx $ Invest Grade Corp Bd (LQD) | 1.5 | $15M | 130k | 115.63 | |
| Annaly Capital Management | 1.4 | $15M | 929k | 15.82 | |
| Gra (GGG) | 1.4 | $14M | 260k | 53.06 | |
| McGraw-Hill Companies | 1.3 | $13M | 265k | 48.47 | |
| GlaxoSmithKline | 1.2 | $12M | 276k | 44.91 | |
| Rayonier (RYN) | 1.2 | $12M | 281k | 44.09 | |
| Linear Technology Corporation | 1.2 | $12M | 359k | 33.70 | |
| HNI Corporation (HNI) | 1.2 | $12M | 431k | 27.75 | |
| Paychex (PAYX) | 1.2 | $12M | 380k | 30.99 | |
| iShares Dow Jones US Technology (IYW) | 1.1 | $12M | 148k | 77.81 | |
| Lockheed Martin Corporation (LMT) | 1.1 | $11M | 124k | 89.86 | |
| Pfizer (PFE) | 1.1 | $11M | 487k | 22.64 | |
| Home Depot (HD) | 1.1 | $11M | 219k | 50.31 | |
| Markel Corporation (MKL) | 1.1 | $11M | 24k | 448.96 | |
| American Express Company (AXP) | 1.1 | $11M | 187k | 57.86 | |
| E.I. du Pont de Nemours & Company | 1.1 | $11M | 205k | 52.90 | |
| Southern Company (SO) | 1.1 | $11M | 239k | 44.93 | |
| Fidelity National Financial | 1.1 | $11M | 594k | 18.03 | |
| Exxon Mobil Corporation (XOM) | 1.0 | $10M | 120k | 86.73 | |
| 3M Company (MMM) | 1.0 | $10M | 117k | 89.21 | |
| PennantPark Investment (PNNT) | 1.0 | $10M | 1.0M | 10.40 | |
| Vectren Corporation | 1.0 | $10M | 352k | 29.06 | |
| Martin Marietta Materials (MLM) | 1.0 | $10M | 118k | 85.63 | |
| Sigma-Aldrich Corporation | 1.0 | $9.9M | 136k | 73.06 | |
| Lowe's Companies (LOW) | 1.0 | $9.8M | 313k | 31.38 | |
| Plum Creek Timber | 1.0 | $9.7M | 234k | 41.56 | |
| Illinois Tool Works (ITW) | 1.0 | $9.7M | 170k | 57.12 | |
| TJX Companies (TJX) | 0.9 | $9.5M | 239k | 39.71 | |
| Franklin Street Properties (FSP) | 0.9 | $9.4M | 886k | 10.60 | |
| Blackrock Kelso Capital | 0.9 | $9.4M | 961k | 9.82 | |
| Willis Group Holdings | 0.9 | $9.4M | 268k | 34.98 | |
| W.R. Berkley Corporation (WRB) | 0.9 | $9.2M | 254k | 36.12 | |
| Progressive Corporation (PGR) | 0.9 | $9.2M | 396k | 23.18 | |
| Waters Corporation (WAT) | 0.9 | $9.1M | 98k | 92.66 | |
| Landauer | 0.9 | $9.0M | 171k | 53.02 | |
| Wal-Mart Stores (WMT) | 0.9 | $8.8M | 144k | 61.20 | |
| Broadridge Financial Solutions (BR) | 0.8 | $8.7M | 362k | 23.91 | |
| Bed Bath & Beyond | 0.8 | $8.6M | 131k | 65.77 | |
| Thermo Fisher Scientific (TMO) | 0.8 | $8.6M | 153k | 56.38 | |
| Discovery Communications | 0.8 | $8.5M | 181k | 46.88 | |
| 0.8 | $8.4M | 13k | 641.26 | ||
| Sherwin-Williams Company (SHW) | 0.8 | $8.3M | 76k | 108.67 | |
| Health Care SPDR (XLV) | 0.8 | $8.3M | 220k | 37.61 | |
| Golub Capital BDC (GBDC) | 0.8 | $8.2M | 540k | 15.27 | |
| Energy Select Sector SPDR (XLE) | 0.8 | $7.9M | 110k | 71.75 | |
| Consumer Staples Select Sect. SPDR (XLP) | 0.8 | $7.9M | 231k | 34.08 | |
| Wells Fargo & Company (WFC) | 0.8 | $7.7M | 226k | 34.14 | |
| MVC Capital | 0.8 | $7.7M | 588k | 13.13 | |
| MasterCard Incorporated (MA) | 0.7 | $7.5M | 18k | 420.53 | |
| Cys Investments | 0.7 | $7.5M | 575k | 13.09 | |
| Berkshire Hathaway (BRK.B) | 0.7 | $7.2M | 89k | 81.15 | |
| Beam | 0.7 | $7.2M | 123k | 58.57 | |
| Ipath Dow Jones-aig Commodity (DJP) | 0.7 | $6.6M | 157k | 42.32 | |
| Medley Capital Corporation | 0.7 | $6.6M | 582k | 11.27 | |
| Hercules Technology Growth Capital (HTGC) | 0.6 | $6.3M | 571k | 11.08 | |
| Leucadia National | 0.6 | $6.2M | 238k | 26.10 | |
| iShares Barclays 20+ Yr Treas.Bond (TLT) | 0.6 | $5.8M | 52k | 112.21 | |
| iShares Lehman MBS Bond Fund (MBB) | 0.6 | $5.8M | 54k | 107.94 | |
| THL Credit | 0.6 | $5.8M | 447k | 12.86 | |
| iShares Gold Trust | 0.5 | $5.4M | 330k | 16.27 | |
| Solar Cap (SLRC) | 0.5 | $5.2M | 237k | 22.07 | |
| iShares Dow Jones US Financial (IYF) | 0.5 | $5.3M | 91k | 58.52 | |
| Halliburton Company (HAL) | 0.5 | $5.2M | 156k | 33.19 | |
| Triangle Capital Corporation | 0.5 | $5.2M | 262k | 19.75 | |
| Hatteras Financial | 0.5 | $4.9M | 176k | 27.90 | |
| iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) | 0.4 | $4.5M | 43k | 105.08 | |
| Vanguard Intermediate Tm Cpte Bd ETF (VCIT) | 0.4 | $4.5M | 53k | 83.75 | |
| Consumer Discretionary SPDR (XLY) | 0.4 | $4.3M | 95k | 45.09 | |
| Industrial SPDR (XLI) | 0.4 | $4.0M | 108k | 37.41 | |
| iShares Dow Jones US Utilities (IDU) | 0.4 | $3.9M | 45k | 86.16 | |
| iShares Barclays Inter Crd Bd Fund ETF) (IGIB) | 0.4 | $3.8M | 35k | 108.86 | |
| Horizon Technology Fin (HRZN) | 0.4 | $3.9M | 232k | 16.61 | |
| Gladstone Capital Corporation | 0.4 | $3.8M | 463k | 8.11 | |
| SPDR Barclay Cp Intr Trm Cr Bd (SPIB) | 0.4 | $3.7M | 109k | 33.89 | |
| Apollo Investment | 0.3 | $3.5M | 492k | 7.17 | |
| Compass Diversified Holdings (CODI) | 0.3 | $3.2M | 216k | 14.79 | |
| Brown & Brown (BRO) | 0.3 | $3.1M | 130k | 23.78 | |
| Landstar System (LSTR) | 0.3 | $3.0M | 52k | 57.71 | |
| Medallion Financial (MFIN) | 0.3 | $3.0M | 268k | 11.16 | |
| iShares Russell 2000 Growth Index (IWO) | 0.3 | $2.9M | 31k | 95.39 | |
| Rli (RLI) | 0.3 | $2.8M | 39k | 71.64 | |
| ConocoPhillips (COP) | 0.3 | $2.9M | 38k | 76.02 | |
| iShares Russell 2000 Value Index (IWN) | 0.3 | $2.9M | 39k | 72.98 | |
| Source Capital (SOR) | 0.2 | $2.6M | 48k | 52.95 | |
| W.W. Grainger (GWW) | 0.2 | $2.4M | 11k | 214.80 | |
| Fifth Street Finance | 0.2 | $2.5M | 252k | 9.76 | |
| iShares Lehman 7-10 Yr Treas. Bond (IEF) | 0.2 | $2.5M | 24k | 103.27 | |
| NGP Capital Resources Company | 0.2 | $2.3M | 350k | 6.55 | |
| Barclays Bank Plc etn djubs grns37 (JJGTF) | 0.2 | $2.4M | 50k | 47.42 | |
| Pennantpark Floating Rate Capi (PFLT) | 0.2 | $2.2M | 189k | 11.75 | |
| P.F. Chang's China Bistro | 0.2 | $2.2M | 55k | 39.53 | |
| Nordstrom (JWN) | 0.2 | $2.1M | 37k | 55.72 | |
| International Business Machines (IBM) | 0.2 | $2.1M | 10k | 208.69 | |
| VCA Antech | 0.2 | $2.2M | 94k | 23.21 | |
| New Mountain Finance Corp (NMFC) | 0.2 | $2.1M | 155k | 13.74 | |
| McDonald's Corporation (MCD) | 0.2 | $2.0M | 20k | 98.10 | |
| T. Rowe Price (TROW) | 0.2 | $2.0M | 31k | 65.29 | |
| Brown-Forman Corporation (BF.B) | 0.2 | $2.0M | 24k | 83.38 | |
| Praxair | 0.2 | $2.0M | 18k | 114.62 | |
| MCG Capital Corporation | 0.2 | $2.1M | 483k | 4.26 | |
| Nxp Semiconductors N V (NXPI) | 0.2 | $2.1M | 78k | 26.61 | |
| Automatic Data Processing (ADP) | 0.2 | $1.9M | 34k | 55.20 | |
| Analog Devices (ADI) | 0.2 | $1.9M | 48k | 40.40 | |
| Colgate-Palmolive Company (CL) | 0.2 | $2.0M | 20k | 97.78 | |
| Commerce Bancshares (CBSH) | 0.2 | $1.9M | 48k | 40.53 | |
| Kohlberg Capital (KCAP) | 0.2 | $1.9M | 274k | 6.91 | |
| M&T Bank Corporation (MTB) | 0.2 | $1.8M | 21k | 86.89 | |
| Cullen/Frost Bankers (CFR) | 0.2 | $1.8M | 31k | 58.20 | |
| MDU Resources (MDU) | 0.2 | $1.8M | 80k | 22.38 | |
| Air Products & Chemicals (APD) | 0.2 | $1.8M | 20k | 91.80 | |
| Nextera Energy (NEE) | 0.2 | $1.8M | 30k | 61.07 | |
| Nike (NKE) | 0.2 | $1.8M | 17k | 108.42 | |
| United Technologies Corporation | 0.2 | $1.8M | 22k | 82.94 | |
| General Dynamics Corporation (GD) | 0.2 | $1.8M | 24k | 73.40 | |
| Marathon Oil Corporation (MRO) | 0.2 | $1.8M | 57k | 31.70 | |
| Eaton Vance | 0.2 | $1.8M | 64k | 28.58 | |
| Materials SPDR (XLB) | 0.2 | $1.8M | 48k | 36.97 | |
| SYSCO Corporation (SYY) | 0.2 | $1.7M | 58k | 29.87 | |
| Becton, Dickinson and (BDX) | 0.2 | $1.7M | 22k | 77.66 | |
| General Mills (GIS) | 0.2 | $1.8M | 45k | 39.45 | |
| Occidental Petroleum Corporation (OXY) | 0.2 | $1.7M | 18k | 95.22 | |
| Procter & Gamble Company (PG) | 0.2 | $1.8M | 26k | 67.20 | |
| Clorox Company (CLX) | 0.2 | $1.7M | 25k | 68.77 | |
| New Jersey Resources Corporation (NJR) | 0.2 | $1.7M | 38k | 44.57 | |
| Owens & Minor (OMI) | 0.2 | $1.7M | 56k | 30.40 | |
| Piedmont Natural Gas Company | 0.2 | $1.7M | 55k | 31.07 | |
| Gladstone Investment Corporation (GAIN) | 0.2 | $1.7M | 222k | 7.57 | |
| Novartis (NVS) | 0.2 | $1.6M | 30k | 55.42 | |
| Gladstone Commercial Corporation (GOOD) | 0.1 | $1.5M | 87k | 17.21 | |
| iShares Silver Trust (SLV) | 0.1 | $1.5M | 48k | 31.39 | |
| SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd | 0.1 | $1.5M | 61k | 24.37 | |
| SPDR Nuveen Barclays Capital Municpl Bnd | 0.1 | $1.5M | 64k | 23.84 | |
| Vanguard Short Term Corporate Bond ETF (VCSH) | 0.1 | $1.5M | 19k | 79.05 | |
| Affiliated Managers (AMG) | 0.1 | $1.5M | 13k | 111.78 | |
| Zebra Technologies (ZBRA) | 0.1 | $1.3M | 32k | 41.17 | |
| John Wiley & Sons (WLY) | 0.1 | $1.3M | 27k | 47.58 | |
| Patterson Companies (PDCO) | 0.1 | $1.4M | 41k | 33.41 | |
| TICC Capital | 0.1 | $1.2M | 128k | 9.74 | |
| Generac Holdings (GNRC) | 0.1 | $1.2M | 50k | 24.54 | |
| Full Circle Cap Corp | 0.1 | $1.2M | 161k | 7.65 | |
| Ritchie Bros. Auctioneers Inco | 0.1 | $1.1M | 48k | 23.77 | |
| Forward Air Corporation (FWRD) | 0.1 | $1.1M | 29k | 36.69 | |
| Haemonetics Corporation (HAE) | 0.1 | $1.1M | 15k | 69.69 | |
| Berkshire Hathaway (BRK.A) | 0.1 | $975k | 8.00 | 121875.00 | |
| Morningstar (MORN) | 0.1 | $1000k | 16k | 63.05 | |
| Techne Corporation | 0.1 | $924k | 13k | 70.11 | |
| American Capital | 0.1 | $925k | 107k | 8.68 | |
| Sanderson Farms | 0.1 | $895k | 17k | 53.00 | |
| Hittite Microwave Corporation | 0.1 | $946k | 17k | 54.30 | |
| West Pharmaceutical Services (WST) | 0.1 | $914k | 22k | 42.54 | |
| Cubic Corporation | 0.1 | $963k | 20k | 47.28 | |
| Scotts Miracle-Gro Company (SMG) | 0.1 | $877k | 16k | 54.18 | |
| SPDR Barclays Capital Mortgage Back ETF (SPMB) | 0.1 | $961k | 35k | 27.52 | |
| Heartland Express (HTLD) | 0.1 | $835k | 58k | 14.45 | |
| Simpson Manufacturing (SSD) | 0.1 | $853k | 26k | 32.25 | |
| Mueller Industries (MLI) | 0.1 | $858k | 19k | 45.45 | |
| SPDR Gold Trust (GLD) | 0.1 | $806k | 5.0k | 162.08 | |
| Goldcorp | 0.1 | $781k | 17k | 45.08 | |
| BHP Billiton (BHP) | 0.1 | $780k | 11k | 72.43 | |
| Silver Wheaton Corp | 0.1 | $814k | 25k | 33.20 | |
| PowerShares DB US Dollar Index Bullish | 0.1 | $788k | 36k | 21.91 | |
| Douglas Dynamics (PLOW) | 0.1 | $858k | 62k | 13.75 | |
| Main Street Capital Corporation (MAIN) | 0.1 | $812k | 33k | 24.64 | |
| BP (BP) | 0.1 | $698k | 16k | 44.99 | |
| Newmont Mining Corporation (NEM) | 0.1 | $747k | 15k | 51.30 | |
| Potash Corp. Of Saskatchewan I | 0.1 | $723k | 16k | 45.71 | |
| Freeport-McMoRan Copper & Gold (FCX) | 0.1 | $701k | 18k | 38.05 | |
| Plains Exploration & Production Company | 0.1 | $703k | 17k | 42.68 | |
| Royal Gold (RGLD) | 0.1 | $692k | 11k | 65.18 | |
| Yamana Gold | 0.1 | $720k | 46k | 15.62 | |
| Franco-Nevada Corporation (FNV) | 0.1 | $724k | 17k | 42.97 | |
| Solar Senior Capital | 0.1 | $747k | 46k | 16.11 | |
| Sociedad Quimica y Minera (SQM) | 0.1 | $616k | 11k | 58.69 | |
| Imperial Oil (IMO) | 0.1 | $572k | 13k | 45.38 | |
| Energy Xxi | 0.1 | $559k | 16k | 36.13 | |
| Contango Oil & Gas Company | 0.1 | $593k | 10k | 58.91 | |
| Eldorado Gold Corp | 0.1 | $657k | 48k | 13.74 | |
| iShares S&P 500 Growth Index (IVW) | 0.1 | $594k | 7.9k | 75.39 | |
| iShares S&P 500 Value Index (IVE) | 0.1 | $591k | 9.1k | 64.96 | |
| Manatuck Hill Mariner Offshore | 0.1 | $573k | 3.8k | 152.23 | |
| Barrick Gold Corp (GOLD) | 0.1 | $548k | 13k | 43.50 | |
| Ross Stores (ROST) | 0.1 | $532k | 9.2k | 58.08 | |
| Murphy Oil Corporation (MUR) | 0.1 | $505k | 9.0k | 56.31 | |
| Cliffs Natural Resources | 0.1 | $497k | 7.2k | 69.23 | |
| Berry Petroleum Company | 0.1 | $508k | 11k | 47.17 | |
| Concho Resources | 0.1 | $506k | 5.0k | 102.12 | |
| Talisman Energy Inc Com Stk | 0.1 | $501k | 40k | 12.59 | |
| Silver Standard Res | 0.1 | $528k | 35k | 15.04 | |
| Anglo American | 0.1 | $486k | 26k | 18.80 | |
| Mesabi Trust (MSB) | 0.1 | $535k | 18k | 30.63 | |
| First Majestic Silver Corp (AG) | 0.1 | $539k | 33k | 16.58 | |
| Enerplus Corp | 0.1 | $466k | 21k | 22.42 | |
| Inmet Mining Corp. | 0.1 | $483k | 8.7k | 55.45 | |
| Mohawk Industries (MHK) | 0.0 | $368k | 5.5k | 66.55 | |
| White Mountains Insurance Gp (WTM) | 0.0 | $370k | 737.00 | 502.04 | |
| Deutsche Bk Ag London Brh ps cr oil sh etn (SZOXF) | 0.0 | $364k | 9.3k | 39.16 | |
| Peabody Energy Corporation | 0.0 | $316k | 11k | 29.00 | |
| Stryker Corporation (SYK) | 0.0 | $325k | 5.9k | 55.51 | |
| Quest Diagnostics Incorporated (DGX) | 0.0 | $318k | 5.2k | 61.19 | |
| iShares Dow Jones Select Dividend (DVY) | 0.0 | $285k | 5.1k | 55.93 | |
| iShares Lehman 1-3 Year Treas.Bond (SHY) | 0.0 | $323k | 3.8k | 84.22 | |
| Barclays Bk Plc ipth s^p vix | 0.0 | $317k | 19k | 16.81 | |
| iShares 10+ Year Credit Bond Fund ETF (IGLB) | 0.0 | $299k | 5.2k | 57.81 | |
| Tyco International Ltd S hs | 0.0 | $208k | 3.7k | 56.09 | |
| Prospect Capital Corporation (PSEC) | 0.0 | $228k | 21k | 10.99 | |
| Market Vectors Gold Miners ETF | 0.0 | $224k | 4.5k | 49.57 | |
| Barclays Bank Plc etf (COWTF) | 0.0 | $235k | 8.4k | 28.12 | |
| Saratoga Investment (SAR) | 0.0 | $218k | 13k | 16.98 | |
| CurrencyShares Canadian Dollar Trust | 0.0 | $240k | 2.4k | 99.75 | |
| CurrencyShares Japanese Yen Trust | 0.0 | $238k | 2.0k | 118.76 | |
| Northstar Realty Finance | 0.0 | $127k | 24k | 5.42 | |
| Global X Fds glb x uranium | 0.0 | $116k | 12k | 9.40 |
