Confluence Investment Management

Confluence Investment Management as of Sept. 30, 2014

Portfolio Holdings for Confluence Investment Management

Confluence Investment Management holds 258 positions in its portfolio as reported in the September 2014 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Johnson & Johnson (JNJ) 2.6 $58M 543k 106.59
Pepsi (PEP) 2.4 $53M 571k 93.09
Chevron Corporation (CVX) 2.2 $49M 413k 119.32
Microsoft Corporation (MSFT) 2.1 $47M 1.0M 46.36
Lockheed Martin Corporation (LMT) 2.0 $44M 241k 182.78
Ares Capital Corporation (ARCC) 1.9 $44M 2.7M 16.16
Emerson Electric (EMR) 1.9 $43M 679k 62.58
Diageo (DEO) 1.8 $41M 357k 115.40
3M Company (MMM) 1.8 $41M 286k 141.68
Northern Trust Corporation (NTRS) 1.8 $41M 595k 68.03
Colgate-Palmolive Company (CL) 1.8 $39M 601k 65.22
Kinder Morgan (KMI) 1.7 $38M 997k 38.34
Praxair 1.7 $37M 289k 129.00
E.I. du Pont de Nemours & Company 1.6 $37M 511k 71.76
Southern Company (SO) 1.6 $36M 826k 43.65
C.H. Robinson Worldwide (CHRW) 1.6 $36M 545k 66.32
Kohl's Corporation (KSS) 1.6 $36M 586k 61.03
Digital Realty Trust (DLR) 1.6 $36M 572k 62.38
Iron Mountain Incorporated 1.6 $35M 1.1M 32.65
Martin Marietta Materials (MLM) 1.5 $33M 255k 128.94
GlaxoSmithKline 1.4 $33M 709k 45.97
Broadridge Financial Solutions (BR) 1.4 $32M 773k 41.63
Kraft Foods 1.4 $32M 569k 56.40
General Electric Company 1.4 $32M 1.2M 25.62
Progressive Corporation (PGR) 1.4 $31M 1.2M 25.28
Pfizer (PFE) 1.4 $31M 1.0M 29.57
Mattel (MAT) 1.4 $31M 1.0M 30.65
Linear Technology Corporation 1.4 $31M 689k 44.39
Gra (GGG) 1.3 $30M 408k 72.98
Plum Creek Timber 1.3 $29M 741k 39.01
iShares IBoxx $ Invest Grade Corp Bd (LQD) 1.2 $27M 232k 118.22
iShares S&P MidCap 400 Growth (IJK) 1.1 $25M 164k 151.45
Nxp Semiconductors N V (NXPI) 1.1 $25M 360k 68.43
Fnf (FNF) 1.1 $25M 887k 27.74
Rayonier (RYN) 1.0 $22M 701k 31.14
TJX Companies (TJX) 1.0 $21M 362k 59.17
American Express Company (AXP) 0.9 $21M 241k 87.54
Sigma-Aldrich Corporation 0.9 $20M 144k 136.01
Markel Corporation (MKL) 0.9 $19M 31k 636.15
Paychex (PAYX) 0.9 $19M 436k 44.20
Expeditors International of Washington (EXPD) 0.8 $19M 459k 40.58
United Technologies Corporation 0.8 $18M 174k 105.60
Lowe's Companies (LOW) 0.8 $19M 349k 52.92
Illinois Tool Works (ITW) 0.8 $18M 209k 84.42
Express Scripts Holding 0.8 $18M 250k 70.63
Rayonier Advanced Matls (RYAM) 0.8 $17M 530k 32.91
Bed Bath & Beyond 0.8 $17M 259k 65.83
Berkshire Hathaway (BRK.B) 0.7 $16M 118k 138.14
Halliburton Company (HAL) 0.7 $16M 249k 64.51
W.R. Berkley Corporation (WRB) 0.7 $15M 320k 47.80
Wells Fargo & Company (WFC) 0.7 $15M 291k 51.87
Discovery Communications 0.7 $15M 397k 37.28
Thermo Fisher Scientific (TMO) 0.7 $15M 120k 121.70
Golub Capital BDC (GBDC) 0.6 $14M 902k 15.95
MasterCard Incorporated (MA) 0.6 $14M 187k 73.92
Brown & Brown (BRO) 0.6 $12M 386k 32.15
Waters Corporation (WAT) 0.5 $12M 123k 99.12
New Mountain Finance Corp (NMFC) 0.5 $12M 798k 14.69
Stryker Corporation (SYK) 0.5 $11M 130k 80.75
iShares S&P MidCap 400 Value Index (IJJ) 0.5 $10M 87k 120.31
iShares Dow Jones US Technology (IYW) 0.5 $11M 105k 100.76
PennantPark Investment (PNNT) 0.5 $10M 917k 10.91
Tcp Capital 0.4 $9.9M 615k 16.07
THL Credit 0.4 $9.7M 751k 12.90
Vanguard Intermediate Tm Cpte Bd ETF (VCIT) 0.4 $9.4M 109k 85.77
iShares 10+ Year Credit Bond Fund ETF (IGLB) 0.4 $9.2M 153k 59.94
Medley Capital Corporation 0.4 $9.3M 788k 11.81
Google Inc Class C 0.4 $9.2M 16k 577.39
Solar Cap (SLRC) 0.4 $8.7M 464k 18.68
Home Depot (HD) 0.4 $8.6M 93k 91.74
Hercules Technology Growth Capital (HTGC) 0.4 $8.0M 556k 14.46
iShares Dow Jones US Financial (IYF) 0.3 $7.8M 93k 83.72
Nike (NKE) 0.3 $6.9M 78k 89.21
General Dynamics Corporation (GD) 0.3 $7.0M 55k 127.09
Google 0.3 $6.9M 12k 588.39
Ace Limited Cmn 0.3 $6.5M 62k 104.87
Novartis (NVS) 0.3 $6.5M 70k 94.14
Procter & Gamble Company (PG) 0.3 $6.6M 79k 83.73
Nordstrom (JWN) 0.3 $6.2M 91k 68.37
Air Products & Chemicals (APD) 0.3 $6.4M 49k 130.18
ConocoPhillips (COP) 0.3 $6.4M 83k 76.52
Apollo Investment 0.3 $6.2M 762k 8.17
Ishares Tr 2018 invtgr bd 0.3 $6.2M 63k 98.56
M&T Bank Corporation (MTB) 0.3 $6.0M 48k 123.29
Occidental Petroleum Corporation (OXY) 0.3 $6.0M 62k 96.15
Clorox Company (CLX) 0.3 $6.1M 63k 96.03
Industrial SPDR (XLI) 0.3 $6.0M 113k 53.15
Commerce Bancshares (CBSH) 0.3 $6.0M 135k 44.65
SPDR Barclay Cp Intr Trm Cr Bd (SPIB) 0.3 $6.1M 180k 34.13
Cullen/Frost Bankers (CFR) 0.3 $5.8M 76k 76.51
W.W. Grainger (GWW) 0.3 $5.8M 23k 251.64
Becton, Dickinson and (BDX) 0.3 $5.9M 52k 113.81
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 0.3 $5.9M 80k 73.62
Marathon Oil Corporation (MRO) 0.3 $5.9M 157k 37.59
iShares Russell 2000 Growth Index (IWO) 0.3 $5.9M 46k 129.69
Triangle Capital Corporation 0.3 $5.8M 231k 25.32
Cys Investments 0.3 $5.7M 697k 8.24
Exxon Mobil Corporation (XOM) 0.2 $5.7M 60k 94.06
McDonald's Corporation (MCD) 0.2 $5.6M 59k 94.82
T. Rowe Price (TROW) 0.2 $5.6M 72k 78.40
Analog Devices (ADI) 0.2 $5.7M 114k 49.49
Donaldson Company (DCI) 0.2 $5.5M 136k 40.63
American Capital 0.2 $5.6M 392k 14.16
New Jersey Resources Corporation (NJR) 0.2 $5.6M 111k 50.51
Consumer Discretionary SPDR (XLY) 0.2 $5.7M 85k 66.69
iShares Barclays Inter Crd Bd Fund ETF) (IGIB) 0.2 $5.7M 52k 109.30
Landstar System (LSTR) 0.2 $5.3M 73k 72.19
iShares Lehman 7-10 Yr Treas. Bond (IEF) 0.2 $5.3M 51k 103.63
MDU Resources (MDU) 0.2 $5.2M 186k 27.81
Piedmont Natural Gas Company 0.2 $5.2M 156k 33.53
Kcap Financial 0.2 $4.9M 585k 8.31
Consumer Staples Select Sect. SPDR (XLP) 0.2 $4.6M 102k 45.11
Vanguard REIT ETF (VNQ) 0.2 $4.7M 65k 71.85
iShares iBoxx $ High Yid Corp Bond (HYG) 0.2 $4.5M 49k 91.95
SPDR DJ Wilshire REIT (RWR) 0.2 $4.6M 57k 79.80
SPDR Barclays Capital High Yield B 0.2 $4.5M 112k 40.18
SPDR Nuveen Barclays Capital Municpl Bnd 0.2 $4.4M 184k 24.00
Horizon Technology Fin (HRZN) 0.2 $4.3M 316k 13.46
iShares FTSE NAREIT Resi Plus Capp (REZ) 0.2 $4.2M 81k 51.14
Stonecastle Finl (BANX) 0.2 $4.2M 167k 25.15
Annaly Capital Management 0.2 $3.9M 368k 10.68
Health Care SPDR (XLV) 0.2 $4.1M 65k 63.92
Ofs Capital (OFS) 0.2 $4.1M 336k 12.07
Stellus Capital Investment (SCM) 0.2 $4.0M 286k 13.89
Ishares Corporate Bond Etf 202 0.2 $4.0M 38k 104.55
Triplepoint Venture Gr Bdc cs (TPVG) 0.2 $4.1M 282k 14.61
Select Comfort 0.2 $3.7M 178k 20.92
Medallion Financial (MFIN) 0.2 $3.7M 318k 11.66
Ishares Tr 2020 invtgr bd 0.2 $3.9M 40k 98.15
Ishares Tr 2023 invtgr bd 0.2 $3.9M 40k 95.97
Gilead Sciences (GILD) 0.2 $3.7M 34k 106.46
Hatteras Financial 0.2 $3.5M 194k 17.96
iShares MSCI ACWI ex US Index Fund (ACWX) 0.2 $3.7M 81k 45.48
Compass Diversified Holdings (CODI) 0.1 $3.3M 187k 17.51
SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd 0.1 $3.4M 138k 24.40
Energy Select Sector SPDR (XLE) 0.1 $3.1M 34k 90.61
Materials SPDR (XLB) 0.1 $3.2M 64k 49.58
iShares Dow Jones US Oil Equip. (IEZ) 0.1 $3.0M 45k 66.35
Ritchie Bros. Auctioneers Inco 0.1 $2.7M 121k 22.39
Patterson Companies (PDCO) 0.1 $2.6M 63k 41.43
Gladstone Capital Corporation 0.1 $2.6M 300k 8.77
iShares Gold Trust 0.1 $2.6M 223k 11.70
Blackrock Kelso Capital 0.1 $2.8M 325k 8.54
Pennantpark Floating Rate Capi (PFLT) 0.1 $2.6M 192k 13.78
Morningstar (MORN) 0.1 $2.6M 38k 67.90
iShares Russell 2000 Value Index (IWN) 0.1 $2.5M 26k 93.57
iShares Lehman MBS Bond Fund (MBB) 0.1 $2.5M 24k 108.11
Main Street Capital Corporation (MAIN) 0.1 $2.6M 84k 30.65
Vanguard Long Term Corporate Bond ETF (VCLT) 0.1 $2.5M 27k 89.52
Claymore Exchange-traded Fd gugg crp bd 2017 0.1 $2.4M 104k 22.76
Ishares Trust Barclays (GNMA) 0.1 $2.4M 47k 49.96
Gugenheim Bulletshares 2022 Corp Bd 0.1 $2.4M 117k 20.67
Claymore Exchange Trd Fd Tr gugg bulsh 2021 0.1 $2.4M 116k 20.75
MVC Capital 0.1 $2.2M 203k 10.76
Gladstone Investment Corporation (GAIN) 0.1 $2.2M 308k 7.11
Ishares Trust Barclays (CMBS) 0.1 $2.3M 45k 51.32
Claymore Exchange Trd Fd Tr gug bull2019 e 0.1 $2.3M 111k 21.01
Claymore Exchange Trd Fd Tr gug bull2020 e 0.1 $2.3M 111k 21.08
Claymore Exchange Trd Fd Tr gug bull2018 e 0.1 $2.3M 111k 21.14
Ishares Tr 2016 invtgr bd 0.1 $2.3M 23k 99.83
Tpg Specialty Lnding Inc equity 0.1 $2.2M 138k 16.01
VCA Antech 0.1 $2.0M 51k 39.34
Techne Corporation 0.1 $1.7M 18k 93.53
West Pharmaceutical Services (WST) 0.1 $1.7M 39k 44.75
Vanguard European ETF (VGK) 0.1 $1.7M 32k 55.23
Solar Senior Capital 0.1 $1.8M 115k 15.39
C&j Energy Services 0.1 $1.8M 59k 30.55
Tamin 0.1 $1.9M 72k 26.10
Cm Fin 0.1 $1.8M 136k 13.21
Fidelity Natl Inc New Fnfv Group Com Isin #us31620r4020 0.1 $1.8M 132k 13.76
Rli (RLI) 0.1 $1.6M 36k 43.29
Franklin Electric (FELE) 0.1 $1.5M 43k 34.74
Haemonetics Corporation (HAE) 0.1 $1.6M 47k 34.93
Forward Air Corporation (FWRD) 0.1 $1.6M 36k 44.82
Mueller Industries (MLI) 0.1 $1.5M 53k 28.54
John Bean Technologies Corporation (JBT) 0.1 $1.5M 55k 28.14
Exponent (EXPO) 0.1 $1.5M 21k 70.88
Onebeacon Insurance Group Ltd Cl-a 0.1 $1.5M 95k 15.41
Bank of Marin Ban (BMRC) 0.1 $1.6M 34k 45.89
Claymore Exchange-traded Fd gugg crp bd 2016 0.1 $1.6M 73k 22.32
Ishares Tr 2017 s^p amtfr 0.1 $1.6M 28k 55.20
Guggenheim Bulletshar 0.1 $1.6M 72k 21.74
Thermon Group Holdings (THR) 0.1 $1.6M 65k 24.42
Ishares S&p Amt-free Municipal 0.1 $1.6M 62k 25.58
Potbelly (PBPB) 0.1 $1.6M 136k 11.66
Fs Investment Corporation 0.1 $1.5M 136k 10.77
re Max Hldgs Inc cl a (RMAX) 0.1 $1.6M 53k 29.72
Spdr S&p 500 Etf (SPY) 0.1 $1.3M 6.6k 197.03
Gladstone Commercial Corporation (GOOD) 0.1 $1.4M 81k 16.98
Cu (CULP) 0.1 $1.4M 79k 18.15
Safeguard Scientifics 0.1 $1.4M 74k 18.40
Lance 0.1 $1.3M 51k 26.51
MSC Industrial Direct (MSM) 0.1 $1.2M 14k 85.42
Berkshire Hathaway (BRK.A) 0.1 $1.0M 5.00 206800.00
Varian Medical Systems 0.1 $1.1M 13k 80.10
FEI Company 0.1 $1.0M 14k 75.45
iShares S&P Natl AMTFr Mncpl Bd (MUB) 0.1 $1.1M 9.8k 109.69
iShares 2015 S&P AMT-Free Mun Ser ETF 0.1 $1.0M 20k 52.82
iShares 2016 S&P AMT-Free Mun Ser ETF 0.1 $1.0M 19k 53.48
Mohawk Industries (MHK) 0.0 $888k 6.6k 134.89
TICC Capital 0.0 $926k 105k 8.83
NGP Capital Resources Company 0.0 $804k 130k 6.18
Monroe Cap (MRCC) 0.0 $795k 59k 13.51
Fifth Street Finance 0.0 $615k 67k 9.18
iShares S&P 500 Growth Index (IVW) 0.0 $682k 6.4k 106.76
Douglas Dynamics (PLOW) 0.0 $769k 39k 19.50
PIMCO Intermediate Mun Bond Strat Fund (MUNI) 0.0 $742k 14k 53.38
American Cap Sr Floating 0.0 $644k 50k 13.00
Continental Resources 0.0 $356k 5.4k 66.47
Hess (HES) 0.0 $376k 4.0k 94.26
Weyerhaeuser Company (WY) 0.0 $346k 11k 31.85
Statoil ASA 0.0 $367k 14k 27.17
EOG Resources (EOG) 0.0 $351k 3.5k 99.12
Whiting Petroleum Corporation 0.0 $373k 4.8k 77.56
CF Industries Holdings (CF) 0.0 $559k 2.0k 279.08
Rockwood Holdings 0.0 $349k 4.6k 76.50
iShares Barclays 20+ Yr Treas.Bond (TLT) 0.0 $338k 2.9k 116.43
Hallador Energy (HNRG) 0.0 $462k 39k 11.85
Manatuck Hill Mariner Offshore 0.0 $417k 3.2k 131.05
Compass Minerals International (CMP) 0.0 $299k 3.5k 84.42
Cabot Oil & Gas Corporation (CTRA) 0.0 $323k 9.9k 32.73
Coca-Cola Company (KO) 0.0 $229k 5.4k 42.67
Range Resources (RRC) 0.0 $284k 4.2k 67.86
Baxter International (BAX) 0.0 $210k 2.9k 71.65
Cameco Corporation (CCJ) 0.0 $308k 17k 17.69
Potash Corp. Of Saskatchewan I 0.0 $321k 9.3k 34.55
Rio Tinto (RIO) 0.0 $290k 5.9k 49.26
Total (TTE) 0.0 $309k 4.8k 64.48
Freeport-McMoRan Copper & Gold (FCX) 0.0 $311k 9.5k 32.67
Franklin Street Properties (FSP) 0.0 $309k 28k 11.24
Energy Xxi 0.0 $204k 18k 11.32
Pioneer Natural Resources 0.0 $329k 1.7k 196.89
Eni S.p.A. (E) 0.0 $316k 6.7k 47.19
Enterprise Products Partners (EPD) 0.0 $219k 5.4k 40.26
BHP Billiton (BHP) 0.0 $303k 5.2k 58.80
Concho Resources 0.0 $296k 2.4k 125.58
FMC Corporation (FMC) 0.0 $260k 4.5k 57.22
Royal Gold (RGLD) 0.0 $334k 5.1k 64.98
Cimarex Energy 0.0 $309k 2.4k 126.69
Capstead Mortgage Corporation 0.0 $245k 20k 12.25
Kinder Morgan Energy Partners 0.0 $226k 2.4k 93.27
MCG Capital Corporation 0.0 $329k 93k 3.52
New Gold Inc Cda (NGD) 0.0 $291k 58k 5.05
iShares S&P 500 Value Index (IVE) 0.0 $330k 3.7k 89.99
Silver Wheaton Corp 0.0 $317k 16k 19.93
Yamana Gold 0.0 $214k 36k 5.99
SPDR S&P Oil & Gas Explore & Prod. 0.0 $224k 3.3k 68.71
iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) 0.0 $225k 2.1k 105.34
Franco-Nevada Corporation (FNV) 0.0 $321k 6.6k 48.90
Saratoga Investment (SAR) 0.0 $240k 15k 16.07
ETFS Physical Platinum Shares 0.0 $290k 2.3k 126.36
Antofagasta (ANFGY) 0.0 $281k 12k 23.39
Vanguard Equity Income Admiral (VEIRX) 0.0 $254k 3.9k 65.40
Fresnillo Plc Ord F 0.0 $263k 21k 12.31
Ares Coml Real Estate (ACRE) 0.0 $234k 20k 11.70
Gulf Coast Ultra Deep Royalty (GULTU) 0.0 $314k 157k 2.00
Harvest Cap Cr 0.0 $263k 20k 13.15
Glencore Xstrata (GLNCY) 0.0 $331k 30k 11.06