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) 2,142

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

Sector Weighting

Basic Materials 7.04%
Capital Goods 8.14%
Conglomerates 0.02%
Consumer Cyclical 2.96%
Consumer/Non-Cyclical 7.53%
Energy 4.3%
Financial 31.82%
Healthcare 7.65%
Services 11.9%
Technology 8.28%
Transportation 2.8%
Utilities 5.6%

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 55,705 4,081 7.91 522,613
PEPSICO INC COM 52,446 4,204 8.71 563,389
CHEVRON CORP NEW COM 47,081 3,732 8.61 394,579
MICROSOFT CORP COM 45,277 1,940 4.48 976,648
LOCKHEED MARTIN CORP COM 43,381 2,804 6.91 237,340
ARES CAP CORP COM 41,168 2,223 5.71 2,547,524
EMERSON ELEC CO COM 40,606 3,648 9.87 648,863
3M CO COM 39,629 1,501 3.94 279,708
NORTHERN TR CORP COM 39,549 17,794 81.79 581,352
DIAGEO P L C SPON ADR NEW 39,130 3,726 10.53 339,080
KINDER MORGAN INC DEL COM 36,943 2,050 5.87 963,575
IRON MTN INC COM 36,702 2,160 6.25 1,124,096
C H ROBINSON WORLDWIDE INC COM NEW 35,890 1,896 5.58 541,168
PRAXAIR INC COM 35,225 2,083 6.29 273,064
DU PONT E I DE NEMOURS & CO COM 35,115 2,363 7.21 489,336
DIGITAL RLTY TR INC COM 34,793 1,926 5.86 557,759
PEPCO HOLDINGS INC COM 34,536 -708 (2.01) 1,290,582
KOHLS CORP COM 34,301 2,059 6.39 562,035
SOUTHERN CO COM 33,820 2,163 6.83 774,809
MARTIN MARIETTA MATLS INC COM 32,617 76 .23 252,960