Confluence Investment Management

Confluence Investment Management as of June 30, 2013

Portfolio Holdings for Confluence Investment Management

Confluence Investment Management holds 255 positions in its portfolio as reported in the June 2013 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Ares Capital Corporation (ARCC) 2.4 $35M 2.0M 17.20
Vanguard REIT ETF (VNQ) 2.2 $33M 475k 68.72
Johnson & Johnson (JNJ) 2.2 $32M 377k 85.86
Microsoft Corporation (MSFT) 2.2 $32M 921k 34.55
Diageo (DEO) 1.9 $27M 236k 114.95
Chevron Corporation (CVX) 1.8 $26M 222k 118.34
Pepsi (PEP) 1.8 $26M 322k 81.79
Emerson Electric (EMR) 1.8 $25M 466k 54.54
Lockheed Martin Corporation (LMT) 1.7 $24M 223k 108.46
Golub Capital BDC (GBDC) 1.6 $24M 1.4M 17.50
GlaxoSmithKline 1.5 $22M 449k 49.97
Praxair 1.5 $22M 191k 115.16
Southern Company (SO) 1.5 $22M 497k 44.13
Kraft Foods 1.5 $22M 392k 55.87
Rayonier (RYN) 1.5 $22M 393k 55.39
Plum Creek Timber 1.4 $21M 447k 46.67
Kohl's Corporation (KSS) 1.4 $21M 410k 50.51
Iron Mountain Incorporated 1.4 $20M 764k 26.61
Broadridge Financial Solutions (BR) 1.4 $20M 762k 26.58
Kinder Morgan (KMI) 1.4 $20M 524k 38.15
Pfizer (PFE) 1.4 $20M 710k 28.01
E.I. du Pont de Nemours & Company 1.4 $20M 375k 52.50
C.H. Robinson Worldwide (CHRW) 1.3 $20M 347k 56.31
Martin Marietta Materials (MLM) 1.3 $19M 197k 98.42
Fidelity National Financial 1.3 $19M 811k 23.81
Willis Group Holdings 1.3 $19M 471k 40.78
Gra (GGG) 1.3 $19M 302k 63.21
Pepco Holdings 1.3 $19M 929k 20.16
SPDR Barclays Capital High Yield B 1.3 $19M 471k 39.49
Rli (RLI) 1.3 $19M 242k 76.41
3M Company (MMM) 1.2 $18M 167k 109.35
iShares iBoxx $ High Yid Corp Bond (HYG) 1.2 $17M 192k 90.88
Linear Technology Corporation 1.1 $17M 449k 36.84
Progressive Corporation (PGR) 1.1 $16M 644k 25.42
Landauer 1.0 $15M 307k 48.31
Paychex (PAYX) 1.0 $14M 389k 36.51
iShares Dow Jones US Financial (IYF) 0.8 $12M 168k 71.53
PennantPark Investment (PNNT) 0.8 $12M 1.1M 11.05
Illinois Tool Works (ITW) 0.8 $11M 161k 69.17
American Express Company (AXP) 0.8 $11M 145k 74.76
United Technologies Corporation 0.8 $11M 117k 92.94
iShares Dow Jones US Technology (IYW) 0.8 $11M 147k 73.63
THL Credit 0.7 $11M 709k 15.19
Express Scripts Holding 0.7 $11M 173k 61.74
Markel Corporation (MKL) 0.7 $11M 20k 526.96
iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) 0.7 $11M 102k 105.03
W.R. Berkley Corporation (WRB) 0.7 $10M 249k 40.86
Expeditors International of Washington (EXPD) 0.7 $10M 263k 38.04
Waters Corporation (WAT) 0.7 $10M 100k 100.05
Sigma-Aldrich Corporation 0.7 $10M 125k 80.42
Medley Capital Corporation 0.7 $10M 737k 13.58
Thermo Fisher Scientific (TMO) 0.7 $9.8M 116k 84.63
Google 0.7 $9.6M 11k 880.36
Discovery Communications 0.6 $9.3M 134k 69.77
Berkshire Hathaway (BRK.B) 0.6 $9.1M 82k 111.92
Hercules Technology Growth Capital (HTGC) 0.6 $9.1M 652k 13.94
Bed Bath & Beyond 0.6 $9.0M 128k 70.95
iShares IBoxx $ Invest Grade Corp Bd (LQD) 0.6 $9.1M 80k 113.65
Lowe's Companies (LOW) 0.6 $8.9M 217k 40.90
Wells Fargo & Company (WFC) 0.6 $8.8M 213k 41.27
TJX Companies (TJX) 0.6 $8.7M 174k 50.06
Solar Cap (SLRC) 0.6 $8.6M 373k 23.09
Energy Select Sector SPDR (XLE) 0.6 $8.4M 107k 78.30
Vanguard Emerging Markets ETF (VWO) 0.6 $8.1M 210k 38.79
Industrial SPDR (XLI) 0.6 $8.0M 189k 42.64
MasterCard Incorporated (MA) 0.5 $7.8M 14k 574.54
Tcp Capital 0.5 $7.6M 456k 16.77
Health Care SPDR (XLV) 0.5 $7.4M 156k 47.61
Triangle Capital Corporation 0.5 $7.4M 267k 27.51
Ipath Dow Jones-aig Commodity (DJP) 0.5 $7.5M 205k 36.49
Halliburton Company (HAL) 0.5 $7.2M 172k 41.72
New Mountain Finance Corp (NMFC) 0.5 $7.2M 506k 14.16
iShares Russell 2000 Value Index (IWN) 0.5 $6.6M 77k 85.90
Cys Investments 0.4 $6.0M 653k 9.21
Home Depot (HD) 0.4 $5.2M 67k 77.47
Stryker Corporation (SYK) 0.4 $5.3M 82k 64.68
Consumer Discretionary SPDR (XLY) 0.4 $5.2M 93k 56.40
Brown & Brown (BRO) 0.3 $5.0M 156k 32.24
Annaly Capital Management 0.3 $4.9M 355k 13.82
Hatteras Financial 0.3 $4.8M 176k 27.21
Exxon Mobil Corporation (XOM) 0.3 $4.6M 51k 90.35
MVC Capital 0.3 $4.7M 371k 12.59
iShares Russell 2000 Growth Index (IWO) 0.3 $4.6M 41k 111.50
Apollo Investment 0.3 $4.5M 576k 7.74
iShares Barclays Inter Crd Bd Fund ETF) (IGIB) 0.3 $4.5M 42k 107.71
iShares Lehman MBS Bond Fund (MBB) 0.3 $4.5M 42k 105.23
Horizon Technology Fin (HRZN) 0.3 $4.6M 332k 13.74
Vanguard Intermediate Tm Cpte Bd ETF (VCIT) 0.3 $4.4M 54k 83.02
Medallion Financial (MFIN) 0.3 $4.4M 318k 13.92
Consumer Staples Select Sect. SPDR (XLP) 0.3 $4.4M 110k 39.67
SPDR Barclay Cp Intr Trm Cr Bd (SPIB) 0.3 $4.3M 129k 33.58
Ishares Tr 2018 invtgr bd 0.3 $4.4M 45k 97.14
iShares Gold Trust 0.3 $4.2M 346k 11.99
Kcap Financial 0.3 $4.1M 368k 11.26
Gladstone Capital Corporation 0.3 $3.9M 478k 8.16
Pennantpark Floating Rate Capi (PFLT) 0.3 $3.9M 279k 14.14
Compass Diversified Holdings (CODI) 0.3 $3.8M 216k 17.53
Deckers Outdoor Corporation (DECK) 0.2 $3.7M 73k 50.51
MCG Capital Corporation 0.2 $3.7M 710k 5.21
W.W. Grainger (GWW) 0.2 $3.3M 13k 252.18
ConocoPhillips (COP) 0.2 $3.3M 55k 60.50
Landstar System (LSTR) 0.2 $3.2M 63k 51.51
Stellus Capital Investment (SCM) 0.2 $3.2M 213k 15.04
Nextera Energy (NEE) 0.2 $3.1M 38k 81.48
Procter & Gamble Company (PG) 0.2 $3.1M 40k 76.99
Commerce Bancshares (CBSH) 0.2 $3.0M 69k 43.55
M&T Bank Corporation (MTB) 0.2 $2.9M 26k 111.73
Automatic Data Processing (ADP) 0.2 $2.9M 43k 68.86
Colgate-Palmolive Company (CL) 0.2 $2.8M 50k 57.28
Nike (NKE) 0.2 $2.9M 45k 63.68
Occidental Petroleum Corporation (OXY) 0.2 $2.8M 32k 89.22
Blackrock Kelso Capital 0.2 $2.9M 308k 9.36
iShares Lehman 7-10 Yr Treas. Bond (IEF) 0.2 $2.9M 28k 102.51
Vanguard Short Term Corporate Bond ETF (VCSH) 0.2 $2.9M 37k 79.11
McDonald's Corporation (MCD) 0.2 $2.8M 28k 99.00
Wal-Mart Stores (WMT) 0.2 $2.7M 37k 74.49
Cullen/Frost Bankers (CFR) 0.2 $2.7M 41k 66.76
T. Rowe Price (TROW) 0.2 $2.8M 38k 73.21
Brown-Forman Corporation (BF.B) 0.2 $2.8M 42k 67.55
Nordstrom (JWN) 0.2 $2.8M 47k 59.94
Analog Devices (ADI) 0.2 $2.7M 61k 45.05
MDU Resources (MDU) 0.2 $2.7M 105k 25.91
Becton, Dickinson and (BDX) 0.2 $2.8M 29k 98.83
Novartis (NVS) 0.2 $2.8M 40k 70.71
Clorox Company (CLX) 0.2 $2.7M 33k 83.13
Solar Senior Capital 0.2 $2.7M 146k 18.41
Ishares Tr 2020 invtgr bd 0.2 $2.7M 28k 95.68
General Dynamics Corporation (GD) 0.2 $2.7M 34k 78.34
Marathon Oil Corporation (MRO) 0.2 $2.7M 77k 34.58
Nxp Semiconductors N V (NXPI) 0.2 $2.6M 85k 31.02
Ishares Tr 2023 invtgr bd 0.2 $2.6M 28k 92.96
Air Products & Chemicals (APD) 0.2 $2.5M 27k 91.57
International Business Machines (IBM) 0.2 $2.5M 13k 191.11
Donaldson Company (DCI) 0.2 $2.4M 69k 35.65
American Capital 0.2 $2.4M 191k 12.66
Piedmont Natural Gas Company 0.2 $2.5M 75k 33.74
NGP Capital Resources Company 0.2 $2.5M 410k 6.12
Fidus Invt (FDUS) 0.2 $2.5M 133k 18.71
Ofs Capital (OFS) 0.2 $2.5M 210k 11.90
New Jersey Resources Corporation (NJR) 0.1 $2.2M 53k 41.53
EnPro Industries (NPO) 0.1 $2.2M 44k 50.77
Gladstone Investment Corporation (GAIN) 0.1 $2.1M 292k 7.35
TICC Capital 0.1 $2.0M 204k 9.62
Materials SPDR (XLB) 0.1 $2.0M 53k 38.34
iShares Dow Jones US Utilities (IDU) 0.1 $2.0M 22k 94.60
Main Street Capital Corporation (MAIN) 0.1 $2.0M 74k 27.69
Patterson Companies (PDCO) 0.1 $1.8M 49k 37.59
iShares MSCI Brazil Index (EWZ) 0.1 $1.7M 38k 43.86
Claymore Exchange-traded Fd gugg crp bd 2017 0.1 $1.7M 77k 22.31
Full Circle Cap Corp 0.1 $1.7M 217k 7.90
Affiliated Managers (AMG) 0.1 $1.6M 9.8k 163.99
Ritchie Bros. Auctioneers Inco 0.1 $1.5M 81k 19.22
Ishares Trust Barclays (GNMA) 0.1 $1.6M 34k 48.32
Ishares Trust Barclays (CMBS) 0.1 $1.7M 32k 51.19
Claymore Exchange Trd Fd Tr gug bull2019 e 0.1 $1.6M 80k 20.40
Claymore Exchange Trd Fd Tr gug bull2020 e 0.1 $1.6M 79k 20.35
Claymore Exchange Trd Fd Tr gug bull2018 e 0.1 $1.6M 80k 20.57
Ishares Tr 2016 invtgr bd 0.1 $1.7M 17k 98.83
Zebra Technologies (ZBRA) 0.1 $1.5M 35k 43.44
West Pharmaceutical Services (WST) 0.1 $1.4M 20k 70.25
Forward Air Corporation (FWRD) 0.1 $1.4M 36k 38.29
VCA Antech 0.1 $1.3M 49k 26.10
Gladstone Commercial Corporation (GOOD) 0.1 $1.3M 67k 18.63
Morningstar (MORN) 0.1 $1.3M 17k 77.59
SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd 0.1 $1.2M 52k 23.89
SPDR Nuveen Barclays Capital Municpl Bnd 0.1 $1.3M 56k 22.86
Franklin Electric (FELE) 0.1 $1.2M 35k 33.65
Haemonetics Corporation (HAE) 0.1 $1.2M 30k 41.34
Mueller Industries (MLI) 0.1 $1.2M 24k 50.41
Techne Corporation 0.1 $1.1M 16k 69.07
GrafTech International 0.1 $1.1M 154k 7.28
Hittite Microwave Corporation 0.1 $1.2M 21k 57.97
Cubic Corporation 0.1 $1.1M 23k 48.12
Claymore Exchange-traded Fd gugg crp bd 2014 0.1 $1.1M 54k 21.27
Claymore Exchange-traded Fd gugg crp bd 2016 0.1 $1.2M 53k 22.07
Guggenheim Bulletshar 0.1 $1.1M 52k 21.76
Thermon Group Holdings (THR) 0.1 $1.2M 60k 20.39
Vocera Communications 0.1 $1.2M 83k 14.70
John Wiley & Sons (WLY) 0.1 $983k 25k 40.11
Fifth Street Finance 0.1 $1.1M 101k 10.44
Onebeacon Insurance Group Ltd Cl-a 0.1 $1.1M 75k 14.48
Douglas Dynamics (PLOW) 0.1 $974k 75k 12.98
iShares Lehman 1-3 Year Treas.Bond (SHY) 0.1 $990k 12k 84.26
C&j Energy Services 0.1 $1.1M 56k 19.37
Berkshire Hathaway (BRK.A) 0.1 $843k 5.00 168600.00
Scotts Miracle-Gro Company (SMG) 0.1 $936k 19k 48.30
Mohawk Industries (MHK) 0.1 $736k 6.5k 112.45
iShares S&P 500 Value Index (IVE) 0.1 $657k 8.7k 75.82
iShares Lehman 3-7 Yr Treasury Bond (IEI) 0.1 $774k 6.4k 120.73
Ishares Tr 2017 s^p amtfr 0.1 $666k 12k 53.71
Heartland Express (HTLD) 0.0 $541k 39k 13.89
Royal Dutch Shell 0.0 $544k 8.5k 63.84
Weyerhaeuser Company (WY) 0.0 $524k 18k 28.48
Varian Medical Systems 0.0 $604k 8.9k 67.49
Southwestern Energy Company 0.0 $518k 14k 36.52
Cimarex Energy 0.0 $516k 7.9k 64.95
Lance 0.0 $593k 21k 28.39
ETFS Physical Platinum Shares 0.0 $578k 4.4k 131.04
Manatuck Hill Mariner Offshore 0.0 $520k 3.4k 153.85
BP (BP) 0.0 $494k 12k 41.76
Leucadia National 0.0 $399k 15k 26.21
Coca-Cola Company (KO) 0.0 $382k 9.5k 40.13
Spdr S&p 500 Etf (SPY) 0.0 $501k 3.1k 160.37
Potash Corp. Of Saskatchewan I 0.0 $374k 9.8k 38.08
Total (TTE) 0.0 $415k 8.5k 48.65
Imperial Oil (IMO) 0.0 $373k 9.8k 38.23
Pioneer Natural Resources 0.0 $387k 2.7k 144.84
BHP Billiton (BHP) 0.0 $373k 6.5k 57.69
Prospect Capital Corporation (PSEC) 0.0 $455k 42k 10.79
New Gold Inc Cda (NGD) 0.0 $366k 57k 6.42
iShares S&P 500 Growth Index (IVW) 0.0 $430k 5.1k 84.05
iShares S&P Natl AMTFr Mncpl Bd (MUB) 0.0 $441k 4.2k 105.10
iShares 2014 S&P AMT-Free Mun Ser ETF 0.0 $452k 8.7k 51.69
iShares 2015 S&P AMT-Free Mun Ser ETF 0.0 $448k 8.5k 52.94
iShares 2016 S&P AMT-Free Mun Ser ETF 0.0 $459k 8.4k 54.68
Mosaic (MOS) 0.0 $403k 7.5k 53.77
Gulf Coast Ultra Deep Royalty (GULTU) 0.0 $391k 192k 2.04
Ishares S&p Amt-free Municipal 0.0 $448k 18k 24.88
Barrick Gold Corp (GOLD) 0.0 $293k 19k 15.74
Sociedad Quimica y Minera (SQM) 0.0 $315k 7.8k 40.39
JPMorgan Chase & Co. (JPM) 0.0 $327k 6.2k 52.78
Peabody Energy Corporation 0.0 $263k 18k 14.62
General Electric Company 0.0 $362k 16k 23.19
Cameco Corporation (CCJ) 0.0 $348k 17k 20.64
Newmont Mining Corporation (NEM) 0.0 $345k 12k 29.95
Agrium 0.0 $357k 4.1k 86.88
Freeport-McMoRan Copper & Gold (FCX) 0.0 $328k 12k 27.60
Murphy Oil Corporation (MUR) 0.0 $361k 5.9k 60.82
Energy Xxi 0.0 $322k 15k 22.15
Contango Oil & Gas Company 0.0 $328k 9.7k 33.78
Eni S.p.A. (E) 0.0 $333k 8.1k 41.09
Repsol YPF (REPYY) 0.0 $334k 16k 21.16
Royal Gold (RGLD) 0.0 $306k 7.3k 42.10
Anglo American 0.0 $297k 31k 9.63
Potlatch Corporation (PCH) 0.0 $300k 7.4k 40.41
Deltic Timber Corporation 0.0 $321k 5.5k 57.87
Eldorado Gold Corp 0.0 $344k 56k 6.18
SM Energy (SM) 0.0 $361k 6.0k 59.99
Silver Wheaton Corp 0.0 $300k 15k 19.64
Yamana Gold 0.0 $347k 37k 9.51
PowerShares DB US Dollar Index Bullish 0.0 $362k 16k 22.58
Bank of Marin Ban (BMRC) 0.0 $245k 6.1k 39.95
Franco-Nevada Corporation (FNV) 0.0 $335k 9.4k 35.79
Saratoga Investment (SAR) 0.0 $247k 14k 17.54
ETFS Physical Palladium Shares 0.0 $332k 5.1k 64.73
PIMCO Intermediate Mun Bond Strat Fund (MUNI) 0.0 $218k 4.2k 51.78
WisdomTree Japan Total Dividend (DXJ) 0.0 $264k 5.8k 45.62
Wisdomtree Tr intl hedge eqt (HEDJ) 0.0 $262k 5.5k 47.99
Vanguard Equity Income Admiral (VEIRX) 0.0 $249k 4.3k 57.53
Ares Coml Real Estate (ACRE) 0.0 $256k 20k 12.80
Harvest Cap Cr 0.0 $303k 20k 15.13
Walter Energy 0.0 $126k 12k 10.43
Uranium Energy (UEC) 0.0 $174k 97k 1.79
First Trust ISE Revere Natural Gas 0.0 $204k 13k 16.08
Golub Capital Inc. - 144a 0.0 $23k 23k 0.98