CONFLUENCE INVESTMENT MANAGEMENT LLC Information

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

Report Date: 12/31/2014

Position Statistics

Total Positions 273
New Positions 16
Increased Positions 179
Decreased Positions 83
Positions with Activity 262
Sold Out Positions 28
Total Mkt Value (in $ millions) 2,512

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

Sector Weighting

Basic Materials 6.68%
Capital Goods 8.48%
Conglomerates 0.01%
Consumer Cyclical 2.86%
Consumer/Non-Cyclical 8.47%
Energy 3.41%
Financial 32.92%
Healthcare 7.71%
Services 12.56%
Technology 8.49%
Transportation 2.55%
Utilities 3.97%

273 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
PEPSICO INC COM 62,187 5,649 9.99 628,281
JOHNSON & JOHNSON COM 59,358 3,703 6.65 579,043
3M CO COM 49,772 1,578 3.27 295,120
ARES CAP CORP COM 48,307 1,649 3.54 2,792,296
CHEVRON CORP NEW COM 47,574 3,567 8.11 445,946
LOCKHEED MARTIN CORP COM 47,119 -1,163 (2.41) 235,535
DIAGEO P L C SPON ADR NEW 45,508 3,034 7.14 382,900
KOHLS CORP COM 45,192 1,917 4.43 612,362
BROADRIDGE FINL SOLUTIONS INC COM 45,174 4,014 9.75 848,666
FIDELITY NATIONAL FINANCIAL IN FNF GROUP COM 45,052 12,490 38.36 1,226,919
MICROSOFT CORP COM 44,914 873 1.98 1,024,261
LINEAR TECHNOLOGY CORP COM 44,723 11,546 34.80 928,150
COLGATE PALMOLIVE CO COM 44,560 2,019 4.75 629,196
NORTHERN TR CORP COM 44,015 2,470 5.95 630,322
IRON MTN INC NEW COM 43,280 4,058 10.35 1,177,688
EMERSON ELEC CO COM 42,751 3,408 8.66 738,106
KINDER MORGAN INC DEL COM 42,711 1,589 3.86 1,041,488
MARTIN MARIETTA MATLS INC COM 41,541 5,203 14.32 291,867
DU PONT E I DE NEMOURS & CO COM 41,398 1,587 3.99 531,765
PRAXAIR INC COM 39,366 2,364 6.39 307,784