Confluence Investment Management

Confluence Investment Management as of Sept. 30, 2015

Portfolio Holdings for Confluence Investment Management

Confluence Investment Management holds 238 positions in its portfolio as reported in the September 2015 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Pepsi (PEP) 2.6 $70M 744k 94.30
Johnson & Johnson (JNJ) 2.4 $65M 697k 93.35
Diageo (DEO) 2.2 $60M 553k 107.79
Microsoft Corporation (MSFT) 1.9 $53M 1.2M 44.26
Northern Trust Corporation (NTRS) 1.8 $50M 726k 68.16
Gra (GGG) 1.8 $49M 736k 67.03
Martin Marietta Materials (MLM) 1.8 $49M 323k 151.95
3M Company (MMM) 1.8 $49M 343k 141.77
Chevron Corporation (CVX) 1.8 $48M 608k 78.88
Southern Company (SO) 1.8 $48M 1.1M 44.70
Broadridge Financial Solutions (BR) 1.7 $48M 858k 55.35
Paychex (PAYX) 1.7 $47M 988k 47.63
Colgate-Palmolive Company (CL) 1.7 $47M 739k 63.46
Ares Capital Corporation (ARCC) 1.7 $47M 3.2M 14.48
Progressive Corporation (PGR) 1.7 $46M 1.5M 30.64
Kraft Heinz (KHC) 1.7 $45M 643k 70.58
Linear Technology Corporation 1.6 $45M 1.1M 40.35
Stryker Corporation (SYK) 1.6 $43M 460k 94.10
Digital Realty Trust (DLR) 1.6 $43M 660k 65.32
Fnf (FNF) 1.6 $43M 1.2M 35.47
C.H. Robinson Worldwide (CHRW) 1.5 $42M 623k 67.78
Iron Mountain (IRM) 1.5 $41M 1.3M 31.02
Pfizer (PFE) 1.4 $40M 1.3M 31.41
General Electric Company 1.4 $40M 1.6M 25.22
Praxair 1.4 $39M 387k 101.86
Markel Corporation (MKL) 1.4 $39M 49k 801.87
GlaxoSmithKline 1.4 $38M 982k 38.45
Plum Creek Timber 1.4 $37M 944k 39.51
Fastenal Company (FAST) 1.3 $35M 955k 36.61
Express Scripts Holding 1.3 $35M 427k 80.96
American International (AIG) 1.2 $34M 605k 56.82
Rayonier (RYN) 1.2 $34M 1.5M 22.07
Kinder Morgan (KMI) 1.2 $33M 1.2M 27.68
Discovery Communications 1.2 $32M 1.3M 24.29
Kohl's Corporation (KSS) 1.1 $31M 677k 46.31
MasterCard Incorporated (MA) 1.1 $31M 340k 90.12
E.I. du Pont de Nemours & Company 1.1 $31M 634k 48.20
TJX Companies (TJX) 1.1 $29M 402k 71.42
Expeditors International of Washington (EXPD) 1.0 $28M 601k 47.05
American Express Company (AXP) 1.0 $27M 369k 74.13
Mattel (MAT) 1.0 $26M 1.3M 21.06
Bed Bath & Beyond 0.9 $26M 451k 57.02
Lowe's Companies (LOW) 0.9 $25M 369k 68.92
W.R. Berkley Corporation (WRB) 0.9 $24M 436k 54.37
Brown & Brown (BRO) 0.8 $23M 753k 30.97
Illinois Tool Works (ITW) 0.8 $23M 276k 82.31
United Technologies Corporation 0.8 $21M 239k 88.99
Berkshire Hathaway (BRK.B) 0.8 $21M 159k 130.40
Thermo Fisher Scientific (TMO) 0.8 $21M 168k 122.28
Compagnie Fin Richemontag S (CFRUY) 0.7 $20M 2.5M 7.75
Wells Fargo & Company (WFC) 0.7 $20M 380k 51.35
Morningstar (MORN) 0.7 $19M 231k 80.26
iShares S&P MidCap 400 Growth (IJK) 0.7 $18M 113k 157.09
Alphabet Inc Class C cs (GOOG) 0.7 $18M 29k 608.44
iShares Russell Midcap Growth Idx. (IWP) 0.6 $18M 198k 88.61
iShares IBoxx $ Invest Grade Corp Bd (LQD) 0.6 $17M 144k 116.09
iShares S&P MidCap 400 Value Index (IJJ) 0.6 $15M 130k 115.35
Halliburton Company (HAL) 0.5 $15M 423k 35.35
Vanguard Long Term Corporate Bond ETF (VCLT) 0.5 $14M 163k 86.03
MSC Industrial Direct (MSM) 0.5 $13M 208k 61.03
re Max Hldgs Inc cl a (RMAX) 0.5 $13M 351k 35.98
iShares Barclays 20+ Yr Treas.Bond (TLT) 0.5 $12M 99k 123.54
Golub Capital BDC (GBDC) 0.4 $12M 758k 15.98
New Mountain Finance Corp (NMFC) 0.4 $11M 803k 13.59
Home Depot (HD) 0.4 $11M 93k 115.49
iShares Dow Jones US Technology (IYW) 0.4 $10M 104k 98.90
THL Credit 0.3 $9.7M 891k 10.92
Vanguard Intermediate Tm Cpte Bd ETF (VCIT) 0.3 $9.6M 113k 85.43
Ishares Tr 2023 invtgr bd 0.3 $9.5M 99k 96.21
Tcp Capital 0.3 $9.2M 680k 13.56
Lockheed Martin Corporation (LMT) 0.3 $8.4M 41k 207.31
Clorox Company (CLX) 0.3 $8.4M 73k 115.53
SEI Investments Company (SEIC) 0.3 $8.3M 171k 48.23
iShares 10+ Year Credit Bond Fund ETF (IGLB) 0.3 $8.4M 147k 57.03
General Dynamics Corporation (GD) 0.3 $8.0M 58k 137.94
Becton, Dickinson and (BDX) 0.3 $7.8M 59k 132.66
PennantPark Investment (PNNT) 0.3 $7.7M 1.2M 6.47
Commerce Bancshares (CBSH) 0.3 $7.8M 171k 45.56
New Jersey Resources Corporation (NJR) 0.3 $7.8M 260k 30.03
Piedmont Natural Gas Company 0.3 $7.6M 190k 40.07
SPDR Barclay Cp Intr Trm Cr Bd (SPIB) 0.3 $7.8M 229k 33.95
Ishares Tr 2018 invtgr bd 0.3 $7.8M 78k 98.91
McDonald's Corporation (MCD) 0.3 $7.3M 74k 98.53
Nordstrom 0.3 $7.5M 105k 71.71
Analog Devices (ADI) 0.3 $7.5M 133k 56.41
Novartis (NVS) 0.3 $7.4M 80k 91.92
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 0.3 $7.3M 98k 75.24
Solar Cap (SLRC) 0.3 $7.3M 465k 15.82
Ace Limited Cmn 0.3 $7.3M 70k 103.41
Exxon Mobil Corporation (XOM) 0.3 $7.1M 95k 74.35
M&T Bank Corporation (MTB) 0.3 $7.2M 59k 121.95
Air Products & Chemicals (APD) 0.3 $7.2M 56k 127.57
Nike (NKE) 0.3 $7.1M 58k 122.97
Occidental Petroleum Corporation (OXY) 0.3 $7.2M 109k 66.15
Onebeacon Insurance Group Ltd Cl-a 0.3 $7.2M 513k 14.04
Consumer Discretionary SPDR (XLY) 0.3 $7.2M 97k 74.26
Market Vectors Long Municipal Index 0.3 $7.2M 368k 19.53
Alphabet Inc Class A cs (GOOGL) 0.3 $7.2M 11k 638.34
T. Rowe Price (TROW) 0.2 $6.9M 100k 69.50
MDU Resources (MDU) 0.2 $6.8M 396k 17.20
Triangle Capital Corporation 0.2 $6.7M 410k 16.48
iShares Dow Jones US Financial (IYF) 0.2 $6.8M 81k 84.11
Ishares Corporate Bond Etf 202 0.2 $6.8M 65k 104.82
Procter & Gamble Company (PG) 0.2 $6.6M 92k 71.94
Hercules Technology Growth Capital (HTGC) 0.2 $6.5M 646k 10.11
iShares Russell 2000 Growth Index (IWO) 0.2 $6.5M 49k 133.97
iShares Lehman 7-10 Yr Treas. Bond (IEF) 0.2 $6.6M 62k 107.88
Medtronic (MDT) 0.2 $6.5M 97k 66.94
Cullen/Frost Bankers (CFR) 0.2 $6.2M 98k 63.58
W.W. Grainger (GWW) 0.2 $6.4M 30k 215.00
iShares S&P SmallCap 600 Growth (IJT) 0.2 $6.2M 52k 120.14
Health Care SPDR (XLV) 0.2 $6.0M 91k 66.23
Vanguard Small-Cap Growth ETF (VBK) 0.2 $5.9M 51k 117.77
iShares Russell 3000 Value Index (IUSV) 0.2 $6.0M 49k 121.61
Vanguard REIT ETF (VNQ) 0.2 $5.9M 78k 75.53
iShares FTSE NAREIT Resi Plus Capp (REZ) 0.2 $6.2M 104k 59.29
Donaldson Company (DCI) 0.2 $5.7M 204k 28.08
Triplepoint Venture Gr Bdc cs (TPVG) 0.2 $5.6M 554k 10.14
Medley Capital Corporation 0.2 $5.2M 699k 7.44
Chubb Corporation 0.2 $4.9M 40k 122.65
Cys Investments 0.2 $5.1M 697k 7.26
Ishares Tr 2020 invtgr bd 0.2 $4.9M 49k 98.67
Apollo Investment 0.2 $4.3M 784k 5.48
Industrial SPDR (XLI) 0.1 $4.1M 83k 49.89
iShares Russell 2000 Value Index (IWN) 0.1 $4.2M 47k 90.10
Consumer Staples Select Sect. SPDR (XLP) 0.1 $4.1M 87k 47.19
Tpg Specialty Lnding Inc equity 0.1 $4.1M 249k 16.43
Patterson Companies (PDCO) 0.1 $3.8M 88k 43.25
Landstar System (LSTR) 0.1 $3.8M 60k 63.47
iShares Barclays Inter Crd Bd Fund ETF) (IGIB) 0.1 $3.9M 36k 108.59
iShares S&P SmallCap 600 Value Idx (IJS) 0.1 $3.9M 37k 104.80
Annaly Capital Management 0.1 $3.6M 368k 9.87
SPDR Nuveen Barclays Capital Municpl Bnd 0.1 $3.7M 152k 24.11
American Capital 0.1 $3.4M 277k 12.16
iShares iBoxx $ High Yid Corp Bond (HYG) 0.1 $3.3M 39k 83.28
Main Street Capital Corporation (MAIN) 0.1 $3.4M 126k 26.66
SPDR Barclays Capital High Yield B 0.1 $3.3M 92k 35.66
Ofs Capital (OFS) 0.1 $3.4M 329k 10.24
Fs Investment Corporation 0.1 $3.4M 360k 9.32
Hatteras Financial 0.1 $2.9M 194k 15.15
iShares Lehman MBS Bond Fund (MBB) 0.1 $3.0M 27k 109.63
SPDR DJ Wilshire REIT (RWR) 0.1 $3.0M 34k 86.16
Claymore Exchange-traded Fd gugg crp bd 2017 0.1 $3.0M 131k 22.69
Ishares Trust Barclays (GNMA) 0.1 $2.9M 58k 50.31
Claymore Exchange Trd Fd Tr gug bull2019 e 0.1 $3.0M 140k 21.14
Claymore Exchange Trd Fd Tr gug bull2020 e 0.1 $3.0M 139k 21.28
Claymore Exchange Trd Fd Tr gug bull2018 e 0.1 $3.0M 140k 21.22
Gugenheim Bulletshares 2022 Corp Bd 0.1 $2.9M 141k 20.61
Claymore Exchange Trd Fd Tr gugg bulsh 2021 0.1 $2.9M 140k 20.85
Stellus Capital Investment (SCM) 0.1 $2.7M 272k 10.07
Claymore Exchange Trd Fd Tr 2024 corp bond 0.1 $2.9M 143k 20.09
VCA Antech 0.1 $2.5M 48k 52.65
Compass Diversified Holdings (CODI) 0.1 $2.4M 148k 16.12
Blackrock Kelso Capital 0.1 $2.6M 288k 8.86
Horizon Technology Fin (HRZN) 0.1 $2.3M 259k 9.05
Ishares Tr 2017 s^p amtfr 0.1 $2.4M 88k 27.49
Kcap Financial 0.1 $2.5M 551k 4.51
Ishares S&p Amt-free Municipal 0.1 $2.4M 95k 25.60
Precision Castparts 0.1 $2.1M 9.4k 229.72
John Bean Technologies Corporation (JBTM) 0.1 $2.3M 61k 38.24
Lance 0.1 $2.2M 65k 33.74
Rli (RLI) 0.1 $1.9M 36k 53.54
Varian Medical Systems 0.1 $1.8M 25k 73.80
TICC Capital 0.1 $1.8M 270k 6.71
Exponent (EXPO) 0.1 $2.0M 44k 44.56
FEI Company 0.1 $1.9M 26k 73.03
Bank of Marin Ban (BMRC) 0.1 $1.9M 40k 47.99
Hilton Worlwide Hldgs 0.1 $1.8M 79k 22.93
Cm Fin 0.1 $1.8M 175k 10.24
Spdr S&p 500 Etf (SPY) 0.1 $1.7M 8.7k 191.67
Haemonetics Corporation (HAE) 0.1 $1.7M 53k 32.32
Forward Air Corporation 0.1 $1.7M 42k 41.49
Mueller Industries (MLI) 0.1 $1.8M 60k 29.58
Energy Select Sector SPDR (XLE) 0.1 $1.7M 29k 61.19
MTS Systems Corporation 0.1 $1.7M 29k 60.12
iShares S&P Natl AMTFr Mncpl Bd (MUB) 0.1 $1.6M 15k 109.56
Thermon Group Holdings (THR) 0.1 $1.7M 82k 20.55
D Tumi Holdings 0.1 $1.7M 98k 17.62
Potbelly (PBPB) 0.1 $1.7M 154k 11.01
Alcentra Cap 0.1 $1.6M 142k 11.59
Ishares 2020 Amt-free Muni Bond Etf 0.1 $1.6M 63k 25.57
Bio-techne Corporation (TECH) 0.1 $1.6M 17k 92.46
Franklin Electric (FELE) 0.1 $1.5M 55k 27.22
Gladstone Commercial Corporation (GOOD) 0.1 $1.5M 103k 14.11
Raven Industries 0.1 $1.5M 86k 16.95
West Pharmaceutical Services (WST) 0.1 $1.3M 25k 54.10
Medallion Financial (MFIN) 0.1 $1.5M 193k 7.58
Cu (CULP) 0.1 $1.4M 43k 32.07
Gladstone Investment Corporation (GAIN) 0.1 $1.3M 188k 7.04
Solar Senior Capital 0.1 $1.5M 104k 14.22
Halyard Health 0.1 $1.4M 50k 28.43
Berkshire Hathaway (BRK.A) 0.0 $976k 5.00 195200.00
Gladstone Capital Corporation 0.0 $1.0M 129k 8.13
Capstead Mortgage Corporation 0.0 $1.1M 109k 9.89
iShares Gold Trust 0.0 $1.2M 114k 10.78
Pennantpark Floating Rate Capi (PFLT) 0.0 $990k 83k 11.95
I Shares 2019 Etf 0.0 $1.1M 44k 25.56
Ritchie Bros. Auctioneers Inco 0.0 $899k 35k 25.89
Fifth Street Finance 0.0 $898k 146k 6.17
National Interstate Corporation 0.0 $917k 34k 26.67
Safeguard Scientifics 0.0 $699k 45k 15.53
Chemours (CC) 0.0 $710k 110k 6.47
Franklin Street Properties (FSP) 0.0 $484k 45k 10.76
Materials SPDR (XLB) 0.0 $518k 13k 39.92
iShares Russell 1000 Growth Index (IWF) 0.0 $443k 4.8k 92.93
iShares S&P 500 Growth Index (IVW) 0.0 $443k 4.1k 107.73
First Tr Exch Trd Alphadex mid cp gr alph (FNY) 0.0 $491k 18k 28.12
Harvest Cap Cr 0.0 $606k 51k 11.90
American Cap Sr Floating 0.0 $563k 51k 11.10
Compass Minerals International (CMP) 0.0 $279k 3.6k 78.44
Eli Lilly & Co. (LLY) 0.0 $201k 2.4k 83.75
Agrium 0.0 $235k 2.6k 89.66
Weyerhaeuser Company (WY) 0.0 $296k 11k 27.31
Anheuser-Busch InBev NV (BUD) 0.0 $286k 2.7k 106.32
EOG Resources (EOG) 0.0 $290k 4.0k 72.83
Pioneer Natural Resources 0.0 $219k 1.8k 121.46
CF Industries Holdings (CF) 0.0 $226k 5.0k 44.97
Royal Gold (RGLD) 0.0 $213k 4.5k 47.07
Cimarex Energy 0.0 $277k 2.7k 102.55
iShares S&P 500 Value Index (IVE) 0.0 $368k 4.4k 83.94
Silver Wheaton Corp 0.0 $244k 20k 11.99
Rubicon Minerals Corp 0.0 $149k 204k 0.73
iShares S&P SmallCap 600 Index (IJR) 0.0 $301k 2.8k 106.70
iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) 0.0 $245k 2.3k 105.15
Franco-Nevada Corporation (FNV) 0.0 $262k 5.9k 44.07
Manatuck Hill Mariner Offshore 0.0 $361k 2.8k 128.29
Vanguard Equity Income Admiral (VEIRX) 0.0 $235k 3.9k 60.43
Detour Gold Corporation 0.0 $146k 14k 10.73
First Tr Mid Cap Val Etf equity (FNK) 0.0 $207k 7.7k 26.90
Ssga Active Etf Tr incom allo etf (INKM) 0.0 $227k 7.7k 29.62
Sandstorm Gold (SAND) 0.0 $153k 57k 2.67
Dominion Diamond Corp foreign 0.0 $175k 16k 10.69
Eldorado Gold Corp 0.0 $90k 28k 3.21
Seabridge Gold (SA) 0.0 $70k 12k 5.81
Torex Gold Resources 0.0 $72k 77k 0.93
Tronox 0.0 $59k 13k 4.40
Gulf Coast Ultra Deep Royalty (GULTU) 0.0 $115k 396k 0.29
Glencore Xstrata (GLNCY) 0.0 $83k 30k 2.76