CONFLUENCE INVESTMENT MANAGEMENT LLC Information

20 ALLEN AVENUE, SUITE 300, ST. LOUIS, Missouri, 63119, (314) 743-5090

Report Date: 06/30/2014

Position Statistics

Total Positions 272
New Positions 20
Increased Positions 177
Decreased Positions 84
Positions with Activity 261
Sold Out Positions 17
Total Mkt Value (in $ millions) 2,194

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 6.76%
Capital Goods 7.99%
Conglomerates 0.02%
Consumer Cyclical 3.04%
Consumer/Non-Cyclical 7.44%
Energy 4.51%
Financial 32.21%
Healthcare 7.49%
Services 11.97%
Technology 8.15%
Transportation 2.78%
Utilities 5.68%

272 Positions as of 06/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
JOHNSON & JOHNSON COM 54,211 3,971 7.91 522,613
PEPSICO INC COM 52,108 4,177 8.71 563,389
CHEVRON CORP NEW COM 51,078 4,049 8.61 394,579
MICROSOFT CORP COM 44,369 1,901 4.48 976,648
ARES CAP CORP COM 43,690 2,360 5.71 2,547,524
EMERSON ELEC CO COM 41,540 3,732 9.87 648,863
LOCKHEED MARTIN CORP COM 41,297 2,670 6.91 237,340
DIAGEO P L C SPON ADR NEW 40,646 3,871 10.53 339,080
IRON MTN INC COM 40,445 2,380 6.25 1,124,096
NORTHERN TR CORP COM 40,317 18,139 81.79 581,352
3M CO COM 40,278 1,525 3.94 279,708
KINDER MORGAN INC DEL COM 38,794 2,152 5.87 963,575
C H ROBINSON WORLDWIDE INC COM NEW 36,940 1,952 5.58 541,168
DIGITAL RLTY TR INC COM 36,394 2,015 5.86 557,759
PRAXAIR INC COM 35,922 2,124 6.29 273,064
PEPCO HOLDINGS INC COM 35,568 -729 (2.01) 1,290,582
SOUTHERN CO COM 34,402 2,200 6.83 774,809
MARTIN MARIETTA MATLS INC COM 33,128 77 .23 252,960
KOHLS CORP COM 33,042 1,984 6.39 562,035
DU PONT E I DE NEMOURS & CO COM 32,350 2,177 7.21 489,336