Confluence Investment Management

Confluence Investment Management as of Dec. 31, 2014

Portfolio Holdings for Confluence Investment Management

Confluence Investment Management holds 247 positions in its portfolio as reported in the December 2014 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Johnson & Johnson (JNJ) 2.5 $61M 579k 104.57
Pepsi (PEP) 2.4 $59M 628k 94.56
Chevron Corporation (CVX) 2.0 $50M 446k 112.18
3M Company (MMM) 2.0 $49M 295k 164.32
Microsoft Corporation (MSFT) 1.9 $48M 1.0M 46.45
Emerson Electric (EMR) 1.9 $46M 738k 61.73
Lockheed Martin Corporation (LMT) 1.9 $45M 236k 192.57
Iron Mountain Incorporated 1.9 $46M 1.2M 38.66
Kinder Morgan (KMI) 1.8 $44M 1.0M 42.31
Diageo (DEO) 1.8 $44M 383k 114.09
Ares Capital Corporation (ARCC) 1.8 $44M 2.8M 15.61
Colgate-Palmolive Company (CL) 1.8 $44M 629k 69.19
Northern Trust Corporation (NTRS) 1.7 $43M 630k 67.40
Linear Technology Corporation 1.7 $42M 928k 45.60
Fnf (FNF) 1.7 $42M 1.2M 34.45
Southern Company (SO) 1.7 $42M 847k 49.11
Praxair 1.6 $40M 308k 129.56
Broadridge Financial Solutions (BR) 1.6 $39M 849k 46.18
E.I. du Pont de Nemours & Company 1.6 $39M 532k 73.94
Digital Realty Trust (DLR) 1.5 $38M 571k 66.30
Gra (GGG) 1.5 $38M 471k 80.18
Kohl's Corporation (KSS) 1.5 $37M 612k 61.04
Kraft Foods 1.5 $37M 594k 62.66
Progressive Corporation (PGR) 1.4 $35M 1.3M 26.99
C.H. Robinson Worldwide (CHRW) 1.4 $35M 473k 74.89
Pfizer (PFE) 1.4 $34M 1.1M 31.15
Plum Creek Timber 1.4 $34M 786k 42.79
General Electric Company 1.3 $33M 1.3M 25.27
Mattel (MAT) 1.3 $33M 1.1M 30.94
GlaxoSmithKline 1.3 $33M 762k 42.74
iShares S&P MidCap 400 Growth (IJK) 1.3 $32M 203k 159.67
Martin Marietta Materials (MLM) 1.3 $32M 292k 110.32
Nxp Semiconductors N V (NXPI) 1.2 $30M 396k 76.40
Paychex (PAYX) 1.1 $27M 584k 46.17
TJX Companies (TJX) 1.1 $26M 375k 68.58
American Express Company (AXP) 1.0 $25M 267k 93.04
iShares IBoxx $ Invest Grade Corp Bd (LQD) 1.0 $25M 206k 119.41
Lowe's Companies (LOW) 1.0 $24M 355k 68.80
Express Scripts Holding 1.0 $24M 286k 84.67
Markel Corporation (MKL) 1.0 $24M 34k 682.84
Bed Bath & Beyond 0.9 $23M 295k 76.17
Expeditors International of Washington (EXPD) 0.9 $22M 500k 44.61
United Technologies Corporation 0.9 $22M 194k 115.00
Illinois Tool Works (ITW) 0.8 $21M 219k 94.70
Rayonier (RYN) 0.8 $20M 700k 27.94
MasterCard Incorporated (MA) 0.8 $19M 225k 86.16
Berkshire Hathaway (BRK.B) 0.8 $19M 128k 150.15
W.R. Berkley Corporation (WRB) 0.7 $18M 353k 51.26
Sigma-Aldrich Corporation 0.7 $18M 131k 137.27
Wells Fargo & Company (WFC) 0.7 $17M 318k 54.82
Thermo Fisher Scientific (TMO) 0.7 $17M 135k 125.29
Discovery Communications 0.7 $16M 473k 33.72
Waters Corporation (WAT) 0.6 $15M 136k 112.72
Brown & Brown (BRO) 0.6 $14M 438k 32.91
iShares Russell 2000 Growth Index (IWO) 0.6 $14M 100k 142.38
Stryker Corporation (SYK) 0.6 $14M 148k 94.33
iShares S&P MidCap 400 Value Index (IJJ) 0.6 $14M 108k 127.83
Golub Capital BDC (GBDC) 0.5 $12M 679k 17.93
New Mountain Finance Corp (NMFC) 0.5 $12M 781k 14.94
Halliburton Company (HAL) 0.5 $12M 292k 39.33
Google Inc Class C 0.5 $11M 21k 526.41
iShares Dow Jones US Technology (IYW) 0.4 $11M 101k 104.40
Tcp Capital 0.4 $11M 636k 16.78
Home Depot (HD) 0.4 $9.8M 94k 104.97
Vanguard Intermediate Tm Cpte Bd ETF (VCIT) 0.4 $9.7M 112k 86.10
PennantPark Investment (PNNT) 0.4 $8.8M 927k 9.53
THL Credit 0.4 $8.9M 754k 11.76
Solar Cap (SLRC) 0.3 $8.4M 466k 18.01
Hercules Technology Growth Capital (HTGC) 0.3 $8.3M 557k 14.88
iShares Barclays Inter Crd Bd Fund ETF) (IGIB) 0.3 $8.1M 74k 109.33
Nike (NKE) 0.3 $7.8M 81k 96.15
General Dynamics Corporation (GD) 0.3 $7.9M 57k 137.61
iShares Dow Jones US Financial (IYF) 0.3 $7.8M 87k 90.21
Nordstrom (JWN) 0.3 $7.6M 96k 79.39
Becton, Dickinson and (BDX) 0.3 $7.6M 55k 139.17
Ace Limited Cmn 0.3 $7.3M 63k 114.88
Air Products & Chemicals (APD) 0.3 $7.4M 52k 144.23
Triangle Capital Corporation 0.3 $7.4M 364k 20.29
Medley Capital Corporation 0.3 $7.3M 789k 9.24
Procter & Gamble Company (PG) 0.3 $7.2M 79k 91.09
Clorox Company (CLX) 0.3 $7.0M 67k 104.22
Morningstar (MORN) 0.3 $7.2M 111k 64.71
New Jersey Resources Corporation (NJR) 0.3 $7.2M 118k 61.20
Consumer Discretionary SPDR (XLY) 0.3 $7.0M 97k 72.15
Analog Devices (ADI) 0.3 $6.9M 124k 55.52
Novartis (NVS) 0.3 $6.8M 74k 92.67
M&T Bank Corporation (MTB) 0.3 $6.6M 52k 125.62
Health Care SPDR (XLV) 0.3 $6.6M 97k 68.38
T. Rowe Price (TROW) 0.3 $6.7M 78k 85.86
Commerce Bancshares (CBSH) 0.3 $6.6M 153k 43.49
Piedmont Natural Gas Company 0.3 $6.6M 167k 39.41
W.W. Grainger (GWW) 0.3 $6.3M 25k 254.88
Google 0.3 $6.3M 12k 530.67
Industrial SPDR (XLI) 0.3 $6.3M 112k 56.58
American Capital 0.3 $6.3M 432k 14.61
SPDR Barclay Cp Intr Trm Cr Bd (SPIB) 0.3 $6.5M 189k 34.17
Ishares Tr 2018 invtgr bd 0.3 $6.5M 66k 98.87
MSC Industrial Direct (MSM) 0.2 $6.2M 76k 81.25
ConocoPhillips (COP) 0.2 $6.2M 90k 69.06
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 0.2 $6.1M 83k 72.95
iShares Russell 2000 Value Index (IWN) 0.2 $6.1M 61k 101.69
Cys Investments 0.2 $6.1M 697k 8.72
Exxon Mobil Corporation (XOM) 0.2 $6.0M 65k 92.45
McDonald's Corporation (MCD) 0.2 $6.0M 64k 93.70
Cullen/Frost Bankers (CFR) 0.2 $5.8M 82k 70.64
Apollo Investment 0.2 $5.8M 781k 7.42
Vanguard REIT ETF (VNQ) 0.2 $5.8M 72k 81.00
SPDR DJ Wilshire REIT (RWR) 0.2 $5.8M 64k 90.89
Occidental Petroleum Corporation (OXY) 0.2 $5.5M 69k 80.61
Donaldson Company (DCI) 0.2 $5.7M 147k 38.63
iShares Lehman 7-10 Yr Treas. Bond (IEF) 0.2 $5.7M 53k 105.99
iShares FTSE NAREIT Resi Plus Capp (REZ) 0.2 $5.3M 91k 58.91
iShares Lehman MBS Bond Fund (MBB) 0.2 $5.1M 47k 109.31
MDU Resources (MDU) 0.2 $4.9M 207k 23.50
Marathon Oil Corporation (MRO) 0.2 $4.9M 172k 28.29
Consumer Staples Select Sect. SPDR (XLP) 0.2 $4.4M 91k 48.50
iShares Russell 3000 Value Index (IUSV) 0.2 $4.5M 33k 136.51
SPDR Nuveen Barclays Capital Municpl Bnd 0.2 $4.4M 181k 24.16
Triplepoint Venture Gr Bdc cs (TPVG) 0.2 $4.5M 301k 14.85
Ishares Tr 2020 invtgr bd 0.2 $4.1M 41k 98.40
Ishares Tr 2023 invtgr bd 0.2 $4.1M 42k 96.43
Ishares Corporate Bond Etf 202 0.2 $4.2M 40k 105.66
Annaly Capital Management 0.2 $4.0M 368k 10.81
iShares iBoxx $ High Yid Corp Bond (HYG) 0.2 $4.0M 44k 89.60
SPDR Barclays Capital High Yield B 0.2 $3.9M 102k 38.61
Horizon Technology Fin (HRZN) 0.2 $4.0M 285k 13.99
Kcap Financial 0.2 $4.0M 589k 6.82
Ofs Capital (OFS) 0.2 $4.0M 341k 11.78
Tpg Specialty Lnding Inc equity 0.2 $3.9M 230k 16.82
Hatteras Financial 0.1 $3.6M 194k 18.43
Stellus Capital Investment (SCM) 0.1 $3.5M 294k 11.78
Ritchie Bros. Auctioneers Inco 0.1 $3.2M 119k 26.89
Patterson Companies (PDCO) 0.1 $3.1M 64k 48.10
Medallion Financial (MFIN) 0.1 $3.2M 318k 10.01
SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd 0.1 $3.2M 133k 24.29
Stonecastle Finl (BANX) 0.1 $3.3M 167k 19.47
Landstar System (LSTR) 0.1 $2.9M 39k 72.54
Energy Select Sector SPDR (XLE) 0.1 $2.9M 36k 79.15
Compass Diversified Holdings (CODI) 0.1 $2.8M 171k 16.25
VCA Antech 0.1 $2.4M 49k 48.77
Main Street Capital Corporation (MAIN) 0.1 $2.5M 85k 29.24
Vanguard Long Term Corporate Bond ETF (VCLT) 0.1 $2.4M 26k 92.44
Claymore Exchange-traded Fd gugg crp bd 2017 0.1 $2.5M 109k 22.71
Ishares Trust Barclays (GNMA) 0.1 $2.5M 50k 50.63
Ishares Trust Barclays (CMBS) 0.1 $2.4M 47k 51.19
Claymore Exchange Trd Fd Tr gug bull2019 e 0.1 $2.4M 117k 20.91
Claymore Exchange Trd Fd Tr gug bull2020 e 0.1 $2.5M 117k 21.09
Claymore Exchange Trd Fd Tr gug bull2018 e 0.1 $2.5M 116k 21.12
Ishares Tr 2016 invtgr bd 0.1 $2.4M 24k 99.60
Gugenheim Bulletshares 2022 Corp Bd 0.1 $2.5M 123k 20.79
Claymore Exchange Trd Fd Tr gugg bulsh 2021 0.1 $2.5M 122k 20.86
Fs Investment Corporation 0.1 $2.5M 254k 9.93
Gladstone Investment Corporation (GAIN) 0.1 $2.2M 309k 7.00
iShares 10+ Year Credit Bond Fund ETF (IGLB) 0.1 $2.3M 37k 61.53
MVC Capital 0.1 $2.0M 203k 9.83
West Pharmaceutical Services (WST) 0.1 $2.0M 38k 53.25
Pennantpark Floating Rate Capi (PFLT) 0.1 $2.0M 147k 13.73
Rli (RLI) 0.1 $1.8M 36k 49.40
Franklin Electric (FELE) 0.1 $1.7M 45k 37.53
Haemonetics Corporation (HAE) 0.1 $1.8M 47k 37.42
Forward Air Corporation (FWRD) 0.1 $1.8M 36k 50.38
Mueller Industries (MLI) 0.1 $1.8M 53k 34.15
Gladstone Capital Corporation (GLAD) 0.1 $1.6M 194k 8.27
John Bean Technologies Corporation (JBT) 0.1 $1.8M 54k 32.86
Exponent (EXPO) 0.1 $1.7M 21k 82.50
Cu (CULP) 0.1 $1.7M 79k 21.68
Bank of Marin Ban (BMRC) 0.1 $1.8M 34k 52.59
Lance 0.1 $1.8M 58k 30.55
Claymore Exchange-traded Fd gugg crp bd 2016 0.1 $1.7M 76k 22.10
Ishares Tr 2017 s^p amtfr 0.1 $1.8M 33k 54.91
Guggenheim Bulletshar 0.1 $1.6M 75k 21.67
Solar Senior Capital 0.1 $1.7M 116k 14.97
Ishares S&p Amt-free Municipal 0.1 $1.8M 70k 25.62
re Max Hldgs Inc cl a (RMAX) 0.1 $1.8M 53k 34.24
Cm Fin 0.1 $1.7M 152k 11.00
Bio-techne Corporation (TECH) 0.1 $1.6M 18k 92.37
Spdr S&p 500 Etf (SPY) 0.1 $1.6M 7.7k 205.48
Mohawk Industries (MHK) 0.1 $1.4M 8.7k 155.41
Gladstone Commercial Corporation (GOOD) 0.1 $1.4M 81k 17.17
Onebeacon Insurance Group Ltd Cl-a 0.1 $1.5M 94k 16.20
FEI Company 0.1 $1.4M 16k 90.32
Blackrock Kelso Capital (BKCC) 0.1 $1.6M 192k 8.20
Safeguard Scientifics (SFE) 0.1 $1.5M 74k 19.82
Thermon Group Holdings (THR) 0.1 $1.6M 66k 24.19
Potbelly (PBPB) 0.1 $1.5M 116k 12.87
Berkshire Hathaway (BRK.A) 0.1 $1.1M 5.00 226000.00
Varian Medical Systems 0.1 $1.3M 15k 86.48
iShares Gold Trust 0.1 $1.3M 109k 11.44
iShares S&P Natl AMTFr Mncpl Bd (MUB) 0.1 $1.2M 11k 110.31
iShares 2015 S&P AMT-Free Mun Ser ETF 0.1 $1.1M 22k 52.71
iShares 2016 S&P AMT-Free Mun Ser ETF 0.1 $1.1M 21k 53.31
MTS Systems Corporation 0.0 $868k 12k 75.00
Raven Industries 0.0 $1.0M 41k 25.00
iShares Dow Jones US Oil Equip. (IEZ) 0.0 $867k 17k 49.99
Halyard Health 0.0 $914k 20k 45.47
TICC Capital 0.0 $790k 105k 7.53
iShares S&P 500 Growth Index (IVW) 0.0 $631k 5.7k 111.62
PIMCO Intermediate Mun Bond Strat Fund (MUNI) 0.0 $816k 15k 53.68
Capital Income Bldr Inc shs cl f-2 (CAIFX) 0.0 $758k 13k 59.56
C&j Energy Services 0.0 $844k 64k 13.21
Monroe Cap (MRCC) 0.0 $857k 59k 14.46
Alcentra Cap 0.0 $743k 59k 12.50
Compass Minerals International (CMP) 0.0 $423k 4.9k 86.73
Cameco Corporation (CCJ) 0.0 $397k 24k 16.43
Potash Corp. Of Saskatchewan I 0.0 $451k 13k 35.33
Weyerhaeuser Company (WY) 0.0 $369k 10k 35.86
iShares S&P 500 Index (IVV) 0.0 $562k 2.7k 206.69
EOG Resources (EOG) 0.0 $424k 4.6k 92.03
CF Industries Holdings (CF) 0.0 $463k 1.7k 272.35
Concho Resources 0.0 $390k 3.9k 99.67
FMC Corporation (FMC) 0.0 $416k 7.3k 57.07
Cimarex Energy 0.0 $392k 3.7k 106.06
American Gwth Fd Of Amer F2 (GFFFX) 0.0 $535k 13k 42.62
Manatuck Hill Mariner Offshore 0.0 $444k 3.2k 139.53
International Grw & In Cl F-2 (IGFFX) 0.0 $369k 12k 31.83
Gulf Coast Ultra Deep Royalty (GULTU) 0.0 $384k 302k 1.27
Glencore Xstrata (GLNCY) 0.0 $376k 41k 9.23
American Cap Sr Floating 0.0 $605k 50k 12.11
Newtek Business Svcs (NEWT) 0.0 $590k 40k 14.75
Cabot Oil & Gas Corporation (CTRA) 0.0 $279k 9.4k 29.60
Range Resources (RRC) 0.0 $216k 4.0k 53.47
Rio Tinto (RIO) 0.0 $259k 5.6k 46.11
Statoil ASA 0.0 $229k 13k 17.64
iShares Russell 1000 Value Index (IWD) 0.0 $235k 2.2k 104.58
Freeport-McMoRan Copper & Gold (FCX) 0.0 $215k 9.2k 23.36
Murphy Oil Corporation (MUR) 0.0 $280k 5.5k 50.50
Franklin Street Properties (FSP) 0.0 $337k 28k 12.25
Pioneer Natural Resources (PXD) 0.0 $238k 1.6k 148.56
BHP Billiton (BHP) 0.0 $231k 4.9k 47.29
Royal Gold (RGLD) 0.0 $307k 4.9k 62.70
Capstead Mortgage Corporation 0.0 $368k 30k 12.27
MCG Capital Corporation 0.0 $235k 61k 3.83
Cloud Peak Energy 0.0 $224k 24k 9.20
iShares S&P 500 Value Index (IVE) 0.0 $276k 2.9k 93.81
Silver Wheaton Corp 0.0 $312k 15k 20.36
Rubicon Minerals Corp 0.0 $132k 136k 0.97
Hallador Energy (HNRG) 0.0 $300k 27k 11.02
Franco-Nevada Corporation (FNV) 0.0 $307k 6.2k 49.21
Saratoga Investment (SAR) 0.0 $222k 15k 14.86
Antofagasta (ANFGY) 0.0 $274k 12k 23.71
Vanguard Equity Income Admiral (VEIRX) 0.0 $258k 3.9k 65.52
Detour Gold Corporation 0.0 $151k 19k 8.15
Fresnillo Plc Ord F 0.0 $245k 21k 11.90
Ares Coml Real Estate (ACRE) 0.0 $230k 20k 11.50
Ssga Active Etf Tr incom allo etf (INKM) 0.0 $340k 11k 32.11
Harvest Cap Cr 0.0 $231k 20k 11.55
Torex Gold Resources 0.0 $114k 106k 1.08