Fund HoldingsCONFLUENCE INVESTMENT MANAGEMENT LLC

Total Portfolio Value
$7.07B
Total Bought
$488.90M
Total Sold
$614.04M
Net Transaction
-$125.14M
Filing Period:
Securities
SharesValue ($K)
Q3 2023
Q4 2023
Change
Q3 2023
Q4 2023
Weight (%)
Change
Clorox Co.(CLX)0899,112+899,1120128,2041.81%+128,204
iShares 0-3 Month Treasury Bon05,736,440+5,736,4400206,5432.92%+206,543
United Parcel Service Inc.(UPS)0321,094+321,094050,4860.71%+50,486
iShares Core S&P US Value ETF0378,244+378,244031,8970.45%+31,897
iShares Barclays 10-20 Year Tr0260,573+260,573028,2100.40%+28,210
Fidelity National Financial In(FNF)2,691,6612,622,551-69,110111,166133,8031.89%+22,637
Fastenal Co.(FAST)02,610,448+2,610,4480169,0792.39%+169,079
Martin Marietta Materials Inc.(MLM)036,525+36,525018,2230.26%+18,223
Invesco S&P MidCap Quality ETF
S&P MDCP QUALITY
0498,312+498,312044,2050.62%+44,205
U.S. Bancorp(USB)2,083,4321,979,499-103,93368,87885,6731.21%+16,794
Northern Trust Corp.(NTRS)01,168,915+1,168,915098,6331.39%+98,633
Home Depot Inc.(HD)0401,209+401,2090139,0391.97%+139,039
Snap-on Inc.(SNA)0604,713+604,7130174,6652.47%+174,665
Analog Devices Inc.(ADI)0714,146+714,1460141,8012.00%+141,801
Pacer US Small Cap Cash Cows 1
US SM CAP CA ETF
433,906674,038+240,13218,09432,3740.46%+14,280
Vontier Corp.(VNT)0621,310+621,310021,4660.30%+21,466
Broadridge Financial Solutions(BR)783,864748,519-35,345140,351154,0082.18%+13,657
S&P Global Inc.(SPGI)0193,302+193,302085,1531.20%+85,153
Lockheed Martin Corp.(LMT)0338,180+338,1800153,2772.17%+153,277
Masco Corp.(MAS)01,025,660+1,025,660068,6990.97%+68,699
Invesco Optimum Yield Diversif
OPTIMUM YIELD
0921,939+921,939012,2620.17%+12,262
Colgate-Palmolive Co.(CL)01,475,618+1,475,6180117,6221.66%+117,622
Global X Uranium ETF
GLOBAL X URANIUM
0390,737+390,737010,8200.15%+10,820
Brookfield Corp.(BN)01,331,182+1,331,182053,4070.75%+53,407
Toro Co.146,584227,744+81,16012,18121,8610.31%+9,680
Hershey Co.(HSY)0164,727+164,727030,7120.43%+30,712
Linde plc(LIN)0390,984+390,9840160,5812.27%+160,581
iShares Russell 1000 Value ETF055,119+55,11909,1080.13%+9,108
Vanguard Long Term Corporate B
LG-TERM COR BD
0104,243+104,24308,3550.12%+8,355
Chubb Ltd.
COM
677,544660,390-17,154141,051149,2482.11%+8,197
Digital Realty Trust Inc.(DLR)757,121740,988-16,13391,62799,7221.41%+8,095
Southern Co.(SO)01,816,728+1,816,7280127,3891.80%+127,389
SPDR S&P 600 Small Cap Growth
ST STR SP600GRWO
0201,585+201,585016,8590.24%+16,859
Entergy Corp.(ETR)0881,763+881,763089,2261.26%+89,226
Progressive Corp.(PGR)1,263,8621,149,637-114,225176,056183,1142.59%+7,058
Illinois Tool Works Inc.(ITW)0248,510+248,510065,0950.92%+65,095
Nordson Corp.(NDSN)0158,814+158,814041,9520.59%+41,952
Invesco BulletShares 2031 Muni0288,053+288,05306,2330.09%+6,233
W. R. Berkley Corp.973,105953,554-19,55161,78267,4350.95%+5,653
NXP Semiconductors N.V.
COM
0233,287+233,287053,5810.76%+53,581
Gilead Sciences Inc.(GILD)01,266,954+1,266,9540102,6361.45%+102,636
Stryker Corp.(SYK)0271,827+271,827081,4011.15%+81,401
iShares BB Rated Corporate Bon
BB RAT CORP BD
492,557578,330+85,77321,55926,6090.38%+5,050
Keysight Technologies Inc.(KEYS)347,402319,864-27,53845,96550,8870.72%+4,922
Gates Industrial Corp. plc
ORD SHS
01,598,489+1,598,489021,4520.30%+21,452
Sherwin-Williams Co.(SHW)086,647+86,647027,0250.38%+27,025
Clarivate plc(CLVT)03,021,190+3,021,190027,9760.40%+27,976
Dollar Tree Inc.(DLTR)0128,596+128,596018,2670.26%+18,267
Booking Holdings Inc.(BKNG)14,30113,683-61844,10448,5370.69%+4,433
VanEck Vectors Long Municipal
LONG MUNI ETF
0226,755+226,75504,1380.06%+4,138
Amphenol Corp.0270,413+270,413026,8060.38%+26,806
Mastercard Inc.(MA)0195,932+195,932083,5671.18%+83,567
Dow Inc.(DOW)01,741,908+1,741,908095,5261.35%+95,526
Kinder Morgan Inc.(KMI)04,795,178+4,795,178084,5871.20%+84,587
Ecolab Inc.(ECL)0121,371+121,371024,0740.34%+24,074
General Dynamics Corp.(GD)91,97091,263-70720,32323,6980.34%+3,376
Charles River Laboratories Int(CRL)100,39997,214-3,18519,67622,9810.32%+3,305
Morningstar Inc.(MORN)74,25571,391-2,86417,39420,4350.29%+3,041
TripAdvisor Inc.(TRIP)116,775222,521+105,7461,9364,7910.07%+2,855
McDonald's Corp.(MCD)084,909+84,909025,1760.36%+25,176
Microsoft Corp.(MSFT)0435,989+435,9890163,9492.32%+163,949
Lowe's Cos. Inc.(LOW)0256,240+256,240057,0260.81%+57,026
UFP Technologies Inc.(UFPT)8,09321,857+13,7641,3073,7600.05%+2,454
Expeditors International of Wa(EXPD)0193,464+193,464024,6090.35%+24,609
NIKE Inc.(NKE)0171,900+171,900018,6630.26%+18,663
TJX Cos. Inc.(TJX)958,498929,656-28,84285,19187,2111.23%+2,020
iShares Russell 2000 Value ETF012,920+12,92002,0070.03%+2,007
Starbucks Corp.(SBUX)0684,049+684,049065,6760.93%+65,676
Donaldson Co. Inc.(DCI)0340,822+340,822022,2730.31%+22,273
Rockwell Automation Inc.(ROK)076,790+76,790023,8420.34%+23,842
New Jersey Resources Corp.(NJR)0447,769+447,769019,9620.28%+19,962
SPDR Portfolio S&P 500 Value E0288,785+288,785013,4660.19%+13,466
Alphabet Inc.(GOOG)472,336451,666-20,67062,27863,6530.90%+1,376
Sapiens International Corp NV046,116+46,11601,3350.02%+1,335
SPDR Nuveen S&P High Yield Mun
ST NUVE HIGH ETF
0177,493+177,49304,4910.06%+4,491
SPDR S&P 500 ETF(SPY)029,589+29,589014,0640.20%+14,064
Thermo Fisher Scientific Inc.(TMO)087,569+87,569046,4810.66%+46,481
Paychex Inc.(PAYX)1,246,0561,216,365-29,691143,708144,8812.05%+1,174
American Water Works Co. Inc.0139,431+139,431018,4030.26%+18,403
Azek Co. Inc.0308,986+308,986011,8190.17%+11,819
Franklin Street Properties Cor1,106,6561,181,656+75,0002,0473,0250.04%+978
Ares Capital Corp.(ARCC)04,219,744+4,219,744084,5211.19%+84,521
SPDR S&P Metals & Mining ETF
ST STR SP METAL
77,69682,909+5,2134,0794,9600.07%+881
Cavco Industries Inc.(CVCO)14,30013,462-8383,7994,6660.07%+867
Stewart Information Services(STC)090,712+90,71205,3290.08%+5,329
iShares 3-7 Year Treasury Bond06,940+6,94008130.01%+813
Sandoz Group023,608+23,60807560.01%+756
SPDR Industrial Select Sector
ST STR INDL ETF
034,645+34,64503,9490.06%+3,949
SPDR Portfolio S&P 500 Growth
ST STR P500GRW
0113,122+113,12207,3600.10%+7,360
iShares US Aerospace & Defense037,634+37,63404,7650.07%+4,765
Rheinmetall AG010,308+10,30806600.01%+660
Medtronic plc(MDT)0203,715+203,715016,7820.24%+16,782
Nestle S.A.01,053,794+1,053,7940121,8501.72%+121,850
iShares Core MSCI Emerging Mar
CORE MSCI EMKT
011,811+11,81105970.01%+597
CarMax Inc.(KMX)0138,891+138,891010,6590.15%+10,659
SPDR Portfolio Mortgage Backed
ST STR BACKE ETF
02,207,636+2,207,636048,7230.69%+48,723
iShares iBonds Dec 2025 Term M077,628+77,62802,0610.03%+2,061
Dun & Bradstreet Holdings Inc.02,441,856+2,441,856028,5700.40%+28,570
RBC Bearings Inc.(RBC)019,403+19,40305,5280.08%+5,528
iShares Core MSCI EAFE ETF
CORE MSCI EAFE
05,386+5,38603790.01%+379
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