Confluence Investment Management as of Sept. 30, 2017
Portfolio Holdings for Confluence Investment Management
Confluence Investment Management holds 239 positions in its portfolio as reported in the September 2017 quarterly 13F filing
| Company (Ticker) | Portfolio Weight | Valued At | Change in Shares | Share Count | Share Price |
|---|---|---|---|---|---|
| Johnson & Johnson (JNJ) | 2.5 | $133M | 1.0M | 130.01 | |
| Pepsi (PEP) | 2.4 | $126M | 1.1M | 111.43 | |
| Diageo (DEO) | 2.4 | $125M | 944k | 132.13 | |
| Polaris Industries (PII) | 2.2 | $116M | 1.1M | 104.63 | |
| Fastenal Company (FAST) | 2.1 | $112M | 2.5M | 45.58 | |
| Microsoft Corporation (MSFT) | 2.1 | $110M | 1.5M | 74.49 | |
| Northern Trust Corporation (NTRS) | 2.0 | $107M | 1.2M | 91.93 | |
| Fnf (FNF) | 2.0 | $106M | 2.2M | 47.46 | |
| Chubb (CB) | 2.0 | $104M | 730k | 142.55 | |
| Chevron Corporation (CVX) | 2.0 | $103M | 876k | 117.50 | |
| 3M Company (MMM) | 2.0 | $103M | 490k | 209.90 | |
| Paychex (PAYX) | 2.0 | $102M | 1.7M | 59.96 | |
| Praxair | 2.0 | $102M | 733k | 139.74 | |
| Dowdupont | 1.9 | $99M | 1.4M | 69.23 | |
| Progressive Corporation (PGR) | 1.9 | $98M | 2.0M | 48.42 | |
| Southern Company (SO) | 1.9 | $98M | 2.0M | 49.14 | |
| Gra (GGG) | 1.9 | $98M | 795k | 123.69 | |
| Colgate-Palmolive Company (CL) | 1.9 | $97M | 1.3M | 72.85 | |
| Iron Mountain (IRM) | 1.8 | $93M | 2.4M | 38.90 | |
| Martin Marietta Materials (MLM) | 1.7 | $88M | 429k | 206.23 | |
| Rayonier (RYN) | 1.6 | $85M | 2.9M | 28.89 | |
| Pfizer (PFE) | 1.6 | $83M | 2.3M | 35.70 | |
| GlaxoSmithKline | 1.6 | $83M | 2.0M | 40.60 | |
| Ares Capital Corporation (ARCC) | 1.6 | $83M | 5.0M | 16.39 | |
| Kinder Morgan (KMI) | 1.6 | $82M | 4.3M | 19.18 | |
| Stryker Corporation (SYK) | 1.6 | $81M | 570k | 142.02 | |
| Kraft Heinz (KHC) | 1.5 | $80M | 1.0M | 77.55 | |
| Broadridge Financial Solutions (BR) | 1.5 | $80M | 988k | 80.82 | |
| Weyerhaeuser Company (WY) | 1.5 | $80M | 2.3M | 34.03 | |
| Markel Corporation (MKL) | 1.5 | $77M | 72k | 1067.98 | |
| Compagnie Fin Richemontag S (CFRUY) | 1.4 | $75M | 8.2M | 9.15 | |
| Colony Northstar | 1.4 | $73M | 5.8M | 12.56 | |
| General Electric Company | 1.4 | $72M | 3.0M | 24.18 | |
| American International (AIG) | 1.3 | $69M | 1.1M | 61.39 | |
| Allergan | 1.2 | $65M | 319k | 204.95 | |
| MasterCard Incorporated (MA) | 1.1 | $55M | 388k | 141.20 | |
| Discovery Communications | 1.0 | $51M | 2.5M | 20.26 | |
| Digital Realty Trust (DLR) | 0.9 | $49M | 410k | 118.33 | |
| American Express Company (AXP) | 0.9 | $48M | 530k | 90.46 | |
| Nxp Semiconductors N V (NXPI) | 0.9 | $48M | 423k | 113.09 | |
| Advisory Board Company | 0.9 | $47M | 869k | 53.62 | |
| TJX Companies (TJX) | 0.8 | $44M | 601k | 73.73 | |
| Analog Devices (ADI) | 0.8 | $42M | 483k | 86.17 | |
| Illinois Tool Works (ITW) | 0.8 | $41M | 280k | 147.96 | |
| Schlumberger (SLB) | 0.8 | $39M | 560k | 69.76 | |
| Starbucks Corporation (SBUX) | 0.8 | $39M | 729k | 53.71 | |
| Natus Medical | 0.8 | $39M | 1.0M | 37.50 | |
| MSC Industrial Direct (MSM) | 0.7 | $37M | 492k | 75.57 | |
| Black Knight | 0.7 | $36M | 846k | 43.00 | |
| Thermo Fisher Scientific (TMO) | 0.7 | $36M | 190k | 189.20 | |
| Berkshire Hathaway (BRK.B) | 0.7 | $35M | 189k | 183.32 | |
| C.H. Robinson Worldwide (CHRW) | 0.7 | $34M | 452k | 76.10 | |
| United Technologies Corporation | 0.6 | $33M | 283k | 116.08 | |
| iShares Lehman 7-10 Yr Treas. Bond (IEF) | 0.6 | $33M | 306k | 106.52 | |
| W.R. Berkley Corporation (WRB) | 0.6 | $32M | 472k | 66.74 | |
| Lowe's Companies (LOW) | 0.5 | $28M | 351k | 79.94 | |
| Alphabet Inc Class C cs (GOOG) | 0.5 | $28M | 29k | 959.09 | |
| Axalta Coating Sys (AXTA) | 0.5 | $27M | 933k | 28.92 | |
| Brown & Brown (BRO) | 0.5 | $24M | 498k | 48.19 | |
| Express Scripts Holding | 0.5 | $24M | 379k | 63.32 | |
| Home Depot (HD) | 0.4 | $20M | 120k | 163.56 | |
| MTS Systems Corporation | 0.4 | $20M | 371k | 53.45 | |
| iShares Lehman MBS Bond Fund (MBB) | 0.4 | $19M | 181k | 107.10 | |
| Ishares Tr 2023 invtgr bd | 0.4 | $19M | 763k | 24.57 | |
| McDonald's Corporation (MCD) | 0.3 | $17M | 110k | 156.68 | |
| Claymore Exchange Trd Fd Tr 2024 corp bond | 0.3 | $17M | 809k | 20.97 | |
| SEI Investments Company (SEIC) | 0.3 | $17M | 277k | 61.06 | |
| Ross Stores (ROST) | 0.3 | $17M | 258k | 64.57 | |
| Becton, Dickinson and (BDX) | 0.3 | $17M | 84k | 195.95 | |
| Lockheed Martin Corporation (LMT) | 0.3 | $17M | 54k | 310.30 | |
| T. Rowe Price (TROW) | 0.3 | $16M | 178k | 90.65 | |
| General Dynamics Corporation (GD) | 0.3 | $16M | 78k | 205.58 | |
| Commerce Bancshares (CBSH) | 0.3 | $16M | 283k | 57.77 | |
| New Jersey Resources Corporation (NJR) | 0.3 | $16M | 384k | 42.15 | |
| M&T Bank Corporation (MTB) | 0.3 | $16M | 98k | 161.04 | |
| Donaldson Company (DCI) | 0.3 | $16M | 346k | 45.94 | |
| Clorox Company (CLX) | 0.3 | $15M | 113k | 131.91 | |
| iShares Barclays 20+ Yr Treas.Bond (TLT) | 0.3 | $15M | 120k | 124.76 | |
| SPDR Barclay Cp Intr Trm Cr Bd (SPIB) | 0.3 | $15M | 436k | 34.51 | |
| Medtronic (MDT) | 0.3 | $15M | 197k | 77.77 | |
| Ishares Tr ibonds dec2026 (IBDR) | 0.3 | $15M | 615k | 24.64 | |
| Air Products & Chemicals (APD) | 0.3 | $15M | 96k | 151.22 | |
| Procter & Gamble Company (PG) | 0.3 | $15M | 159k | 90.98 | |
| Nestle SA Reg Shs. Ser. B Spons (NSRGY) | 0.3 | $14M | 172k | 83.81 | |
| MDU Resources (MDU) | 0.3 | $14M | 552k | 25.95 | |
| Cullen/Frost Bankers (CFR) | 0.3 | $13M | 142k | 94.92 | |
| Novartis (NVS) | 0.3 | $14M | 159k | 85.85 | |
| Expeditors International of Washington (EXPD) | 0.2 | $13M | 218k | 59.86 | |
| Exxon Mobil Corporation (XOM) | 0.2 | $13M | 160k | 81.98 | |
| New Mountain Finance Corp (NMFC) | 0.2 | $13M | 919k | 14.25 | |
| Ishares Corporate Bond Etf 202 | 0.2 | $13M | 492k | 26.74 | |
| Golub Capital BDC (GBDC) | 0.2 | $13M | 677k | 18.82 | |
| Tcp Capital | 0.2 | $12M | 749k | 16.49 | |
| Nike (NKE) | 0.2 | $12M | 226k | 51.85 | |
| Morningstar (MORN) | 0.2 | $12M | 138k | 84.99 | |
| Nordstrom (JWN) | 0.2 | $11M | 232k | 47.15 | |
| Solar Cap (SLRC) | 0.2 | $11M | 489k | 21.64 | |
| Hercules Technology Growth Capital (HTGC) | 0.2 | $9.9M | 768k | 12.90 | |
| THL Credit | 0.2 | $9.9M | 1.1M | 9.33 | |
| Patterson Companies (PDCO) | 0.2 | $9.3M | 242k | 38.65 | |
| Ishares Tr 2020 invtgr bd | 0.2 | $9.3M | 378k | 24.67 | |
| Triplepoint Venture Gr Bdc cs (TPVG) | 0.2 | $9.3M | 696k | 13.40 | |
| Spdr Nuveen Barclays Muni Bond Etf nuvn brcly muni (TFI) | 0.2 | $9.3M | 190k | 48.91 | |
| Vaneck Vectors Etf Tr amt free long mu (MLN) | 0.2 | $9.2M | 462k | 19.97 | |
| iShares S&P MidCap 400 Value Index (IJJ) | 0.2 | $8.6M | 57k | 152.74 | |
| iShares S&P MidCap 400 Growth (IJK) | 0.2 | $8.4M | 42k | 202.35 | |
| iShares Barclays Inter Crd Bd Fund ETF) (IGIB) | 0.2 | $8.6M | 78k | 110.16 | |
| Cys Investments | 0.1 | $7.8M | 912k | 8.59 | |
| iShares S&P SmallCap 600 Growth (IJT) | 0.1 | $7.5M | 46k | 164.48 | |
| Triangle Capital Corporation | 0.1 | $7.1M | 498k | 14.28 | |
| iShares Dow Jones US Technology (IYW) | 0.1 | $7.6M | 50k | 149.92 | |
| Stellus Capital Investment (SCM) | 0.1 | $7.3M | 533k | 13.65 | |
| Tpg Specialty Lnding Inc equity | 0.1 | $7.5M | 359k | 20.96 | |
| PennantPark Investment (PNNT) | 0.1 | $6.9M | 920k | 7.51 | |
| Vanguard Emerging Markets ETF (VWO) | 0.1 | $6.5M | 150k | 43.57 | |
| iShares S&P SmallCap 600 Value Idx (IJS) | 0.1 | $6.8M | 46k | 148.30 | |
| Ishares Tr ibonds dec 21 | 0.1 | $6.6M | 256k | 25.89 | |
| Ishares Tr ibonds dec 22 | 0.1 | $6.6M | 252k | 26.07 | |
| Health Care SPDR (XLV) | 0.1 | $6.3M | 77k | 81.73 | |
| iShares MSCI ACWI ex US Index Fund (ACWX) | 0.1 | $6.1M | 125k | 48.35 | |
| Annaly Capital Management | 0.1 | $5.9M | 486k | 12.14 | |
| Claymore Exchange Trd Fd Tr gug bull2019 e | 0.1 | $5.6M | 264k | 21.25 | |
| Claymore Exchange Trd Fd Tr gug bull2020 e | 0.1 | $5.6M | 262k | 21.51 | |
| Ofs Capital (OFS) | 0.1 | $5.8M | 440k | 13.17 | |
| Gugenheim Bulletshares 2022 Corp Bd | 0.1 | $5.7M | 264k | 21.41 | |
| Claymore Exchange Trd Fd Tr gugg bulsh 2021 | 0.1 | $5.6M | 264k | 21.36 | |
| Fs Investment Corporation | 0.1 | $5.6M | 664k | 8.45 | |
| Varian Medical Systems | 0.1 | $5.3M | 53k | 100.05 | |
| Industrial SPDR (XLI) | 0.1 | $5.0M | 70k | 71.01 | |
| iShares S&P Natl AMTFr Mncpl Bd (MUB) | 0.1 | $5.1M | 46k | 110.88 | |
| iShares Dow Jones US Financial (IYF) | 0.1 | $5.1M | 45k | 112.12 | |
| Forward Air Corporation (FWRD) | 0.1 | $4.4M | 78k | 57.23 | |
| Innophos Holdings | 0.1 | $4.6M | 94k | 49.19 | |
| Raven Industries | 0.1 | $4.5M | 139k | 32.40 | |
| Bank of Marin Ban (BMRC) | 0.1 | $4.6M | 67k | 68.50 | |
| Halyard Health | 0.1 | $4.6M | 102k | 45.03 | |
| Spdr S&p 500 Etf (SPY) | 0.1 | $3.9M | 16k | 251.25 | |
| Boston Beer Company (SAM) | 0.1 | $4.2M | 27k | 156.18 | |
| Movado (MOV) | 0.1 | $4.4M | 158k | 28.00 | |
| Cu (CULP) | 0.1 | $4.1M | 125k | 32.75 | |
| iShares IBoxx $ Invest Grade Corp Bd (LQD) | 0.1 | $4.3M | 36k | 121.24 | |
| Consumer Discretionary SPDR (XLY) | 0.1 | $4.1M | 46k | 90.08 | |
| Main Street Capital Corporation (MAIN) | 0.1 | $3.9M | 99k | 39.75 | |
| Thermon Group Holdings (THR) | 0.1 | $4.1M | 226k | 17.99 | |
| Luxoft Holding Inc cmn | 0.1 | $4.0M | 84k | 47.80 | |
| Ishares 2020 Amt-free Muni Bond Etf | 0.1 | $4.4M | 172k | 25.70 | |
| Veritex Hldgs (VBTX) | 0.1 | $3.9M | 146k | 26.96 | |
| Franklin Electric (FELE) | 0.1 | $3.5M | 79k | 44.85 | |
| Monotype Imaging Holdings | 0.1 | $3.8M | 199k | 19.25 | |
| Lance | 0.1 | $3.5M | 92k | 38.14 | |
| Medley Capital Corporation | 0.1 | $3.5M | 587k | 5.92 | |
| Potbelly (PBPB) | 0.1 | $3.8M | 307k | 12.40 | |
| re Max Hldgs Inc cl a (RMAX) | 0.1 | $3.5M | 56k | 63.55 | |
| Bio-techne Corporation (TECH) | 0.1 | $3.8M | 31k | 120.88 | |
| Goldmansachsbdc (GSBD) | 0.1 | $3.4M | 151k | 22.82 | |
| Guggenheim Bulletshares 2025 Corp Etf gugenhim 2025 | 0.1 | $3.8M | 182k | 20.78 | |
| Hilton Worldwide Holdings (HLT) | 0.1 | $3.9M | 56k | 69.45 | |
| RBC Bearings Incorporated (RBC) | 0.1 | $3.0M | 24k | 125.14 | |
| Apollo Investment | 0.1 | $3.4M | 551k | 6.11 | |
| iShares FTSE NAREIT Resi Plus Capp (REZ) | 0.1 | $3.4M | 53k | 63.60 | |
| Vanguard Long Term Corporate Bond ETF (VCLT) | 0.1 | $2.9M | 31k | 94.16 | |
| I Shares 2019 Etf | 0.1 | $3.1M | 121k | 25.56 | |
| Alphabet Inc Class A cs (GOOGL) | 0.1 | $3.2M | 3.3k | 973.60 | |
| John Bean Technologies Corporation (JBT) | 0.1 | $2.8M | 28k | 101.10 | |
| iShares Russell 2000 Value Index (IWN) | 0.1 | $2.5M | 20k | 124.10 | |
| iShares iBoxx $ High Yid Corp Bond (HYG) | 0.1 | $2.8M | 32k | 88.76 | |
| SPDR Barclays Capital High Yield B | 0.1 | $2.8M | 76k | 37.32 | |
| Pennantpark Floating Rate Capi (PFLT) | 0.1 | $2.5M | 172k | 14.48 | |
| Alcentra Cap | 0.1 | $2.7M | 248k | 10.71 | |
| Varex Imaging (VREX) | 0.1 | $2.7M | 79k | 33.83 | |
| Energy Select Sector SPDR (XLE) | 0.0 | $2.2M | 31k | 68.47 | |
| Vanguard European ETF (VGK) | 0.0 | $2.3M | 40k | 58.33 | |
| SPDR Barclays Capital Inter Term (SPTI) | 0.0 | $1.9M | 32k | 60.03 | |
| Cm Fin | 0.0 | $2.1M | 221k | 9.35 | |
| Berkshire Hathaway (BRK.A) | 0.0 | $1.4M | 5.00 | 274800.00 | |
| Exponent (EXPO) | 0.0 | $1.4M | 20k | 73.91 | |
| iShares Russell 2000 Growth Index (IWO) | 0.0 | $1.8M | 10k | 178.93 | |
| Consumer Staples Select Sect. SPDR (XLP) | 0.0 | $1.7M | 32k | 53.97 | |
| Solar Senior Capital | 0.0 | $1.4M | 79k | 17.23 | |
| Capitala Finance | 0.0 | $1.6M | 164k | 9.54 | |
| Ishares Tr Ibonds Dec2023 etf | 0.0 | $1.3M | 53k | 25.51 | |
| Gartner (IT) | 0.0 | $1.2M | 9.4k | 124.44 | |
| Franklin Street Properties (FSP) | 0.0 | $850k | 80k | 10.62 | |
| Capstead Mortgage Corporation | 0.0 | $1.0M | 111k | 9.46 | |
| iShares Gold Trust | 0.0 | $1.1M | 89k | 12.31 | |
| Materials SPDR (XLB) | 0.0 | $1.2M | 22k | 56.79 | |
| iShares Dow Jones US Utilities (IDU) | 0.0 | $1.3M | 9.6k | 132.90 | |
| iShares Barclays 1-3 Year Cred Bd Fd ETF (IGSB) | 0.0 | $1.3M | 12k | 105.34 | |
| Vanguard REIT ETF (VNQ) | 0.0 | $1.0M | 13k | 83.07 | |
| Kcap Financial | 0.0 | $1.2M | 341k | 3.65 | |
| JPMorgan Chase & Co. (JPM) | 0.0 | $686k | 7.2k | 95.49 | |
| Coca-Cola Company (KO) | 0.0 | $415k | 9.2k | 45.05 | |
| Wells Fargo & Company (WFC) | 0.0 | $358k | 6.5k | 55.10 | |
| Vulcan Materials Company (VMC) | 0.0 | $262k | 2.2k | 119.69 | |
| iShares S&P 500 Index (IVV) | 0.0 | $663k | 2.6k | 252.96 | |
| Qualcomm (QCOM) | 0.0 | $545k | 11k | 51.88 | |
| EOG Resources (EOG) | 0.0 | $341k | 3.5k | 96.74 | |
| Visa (V) | 0.0 | $685k | 6.5k | 105.27 | |
| Royal Gold (RGLD) | 0.0 | $360k | 4.2k | 86.08 | |
| Potlatch Corporation (PCH) | 0.0 | $262k | 5.1k | 51.09 | |
| iShares S&P 500 Growth Index (IVW) | 0.0 | $552k | 3.9k | 143.38 | |
| iShares S&P 500 Value Index (IVE) | 0.0 | $622k | 5.8k | 107.95 | |
| iShares S&P SmallCap 600 Index (IJR) | 0.0 | $269k | 3.6k | 74.17 | |
| Vanguard Total Stock Market ETF (VTI) | 0.0 | $311k | 2.4k | 129.48 | |
| iShares Russell Midcap Growth Idx. (IWP) | 0.0 | $504k | 4.5k | 113.13 | |
| Gladstone Investment Corporation (GAIN) | 0.0 | $279k | 29k | 9.50 | |
| Franco-Nevada Corporation (FNV) | 0.0 | $349k | 4.5k | 77.52 | |
| ETFS Physical Platinum Shares | 0.0 | $342k | 3.9k | 87.18 | |
| iShares Dow Jones EPAC Sel Div Ind (IDV) | 0.0 | $286k | 8.5k | 33.72 | |
| WisdomTree LargeCap Dividend Fund (DLN) | 0.0 | $441k | 5.1k | 86.86 | |
| Manatuck Hill Mariner Offshore | 0.0 | $343k | 2.7k | 129.43 | |
| D Ishares (EEMS) | 0.0 | $329k | 6.7k | 49.41 | |
| Nuveen Barclays Shrt Term Muni bdfund (SHM) | 0.0 | $377k | 7.7k | 48.66 | |
| Alcoa (AA) | 0.0 | $347k | 7.4k | 46.68 | |
| Wheaton Precious Metals Corp (WPM) | 0.0 | $271k | 14k | 19.08 | |
| U.S. Bancorp (USB) | 0.0 | $254k | 4.7k | 53.53 | |
| Bank of America Corporation (BAC) | 0.0 | $213k | 8.4k | 25.30 | |
| Abbott Laboratories (ABT) | 0.0 | $245k | 4.6k | 53.37 | |
| Eli Lilly & Co. (LLY) | 0.0 | $209k | 2.4k | 85.34 | |
| Cameco Corporation (CCJ) | 0.0 | $159k | 16k | 9.69 | |
| Nextera Energy (NEE) | 0.0 | $207k | 1.4k | 146.50 | |
| iShares Russell 1000 Value Index (IWD) | 0.0 | $205k | 1.7k | 118.70 | |
| Accenture (ACN) | 0.0 | $214k | 1.6k | 134.85 | |
| Fifth Street Finance | 0.0 | $172k | 31k | 5.48 | |
| Pioneer Natural Resources (PXD) | 0.0 | $228k | 1.5k | 147.76 | |
| Southwestern Energy Company (SWN) | 0.0 | $213k | 35k | 6.11 | |
| Cimarex Energy | 0.0 | $247k | 2.2k | 113.51 | |
| Seabridge Gold (SA) | 0.0 | $210k | 17k | 12.21 | |
| SPDR S&P MidCap 400 ETF (MDY) | 0.0 | $208k | 638.00 | 326.02 | |
| iShares Silver Trust (SLV) | 0.0 | $203k | 13k | 15.73 | |
| First Majestic Silver Corp (AG) | 0.0 | $117k | 17k | 6.85 | |
| PIMCO Enhanced Short Mat Str Fund ETF (MINT) | 0.0 | $242k | 2.4k | 101.89 | |
| Fortuna Silver Mines (FSM) | 0.0 | $102k | 23k | 4.38 | |
| Belo Sun Mining Corp (BSXGF) | 0.0 | $112k | 249k | 0.45 | |
| Kemper Corp Del (KMPR) | 0.0 | $237k | 4.5k | 53.02 | |
| Ishares Tr fltg rate nt (FLOT) | 0.0 | $242k | 4.8k | 50.89 | |
| Sabina Gold & Silver (SGSVF) | 0.0 | $211k | 119k | 1.77 | |
| Harvest Cap Cr | 0.0 | $223k | 17k | 13.35 | |
| Rsp Permian | 0.0 | $228k | 6.6k | 34.53 |
