0001442055-16-000017.txt : 20160726 0001442055-16-000017.hdr.sgml : 20160726 20160726110635 ACCESSION NUMBER: 0001442055-16-000017 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160726 DATE AS OF CHANGE: 20160726 EFFECTIVENESS DATE: 20160726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONFLUENCE INVESTMENT MANAGEMENT LLC CENTRAL INDEX KEY: 0001442056 IRS NUMBER: 261764456 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13334 FILM NUMBER: 161783541 BUSINESS ADDRESS: STREET 1: 20 ALLEN AVENUE, SUITE 300 CITY: ST. LOUIS STATE: MO ZIP: 63119 BUSINESS PHONE: 314-743-5090 MAIL ADDRESS: STREET 1: 20 ALLEN AVENUE, SUITE 300 CITY: ST. LOUIS STATE: MO ZIP: 63119 13F-HR 1 primary_doc.xml 13F-HR LIVE false true false 0001442056 XXXXXXXX 06-30-2016 06-30-2016 CONFLUENCE INVESTMENT MANAGEMENT LLC

20 ALLEN AVENUE, SUITE 300 ST. LOUIS MO 63119

13F COMBINATION REPORT 028-13334 028-06487 First Trust Advisors L.P. N Joseph John Hanzlik 3147435096 Joseph Hanzlik Saint Louis MO 07-26-2016 1 230 3636828 false 1 028-06487 First Trust Advisors L.P. INFORMATION TABLE 2 13fjune2016rev1.xml 13F Vanguard Equity-Income Admiral MFUND 921921300 224 3398 SH SOLE 3398 0 0 iShares iBonds Dec 2022 AMT-F COM 46435G755 4157 157231 SH SOLE 157231 0 0 3M Company COM 88579Y101 67526 385597 SH SOLE 385597 0 0 Advisory Board Company COM 00762w107 21740 614292 SH DFND 0 614292 0 Air Products & Chemicals Inc. COM 009158106 9828 69189 SH SOLE 69189 0 0 Alcentra Capital Corporation COM 01374T102 2308 189994 SH DFND 0 189994 0 ALCOA, INC. COM 013817101 272 29368 SH SOLE 29368 0 0 Alphabet Inc. Class- C COM 02079K107 22482 32483 SH SOLE 32483 0 0 Alphabet Inc. Class - A COM 02079K305 7174 10197 SH SOLE 10197 0 0 American Capital Ltd. COM 02503Y103 5415 342061 SH DFND 0 342061 0 American Express Company COM 025816109 29534 486075 SH SOLE 486075 0 0 American International Group, COM 026874784 43153 815898 SH SOLE 815898 0 0 Analog Devices, Inc. COM 032654105 9361 165264 SH SOLE 165264 0 0 Anheuser-Busch InBev SA/NV COM 03524A108 354 2690 SH SOLE 2690 0 0 Annaly Capital Management Inc. COM 035710409 3518 317752 SH DFND 0 317752 0 Apollo Investment Corp. COM 03761U106 3053 551102 SH DFND 0 551102 0 Ares Capital Corp. COM 04010L103 54456 3834909 SH DFND 0 3834909 0 Bank of Marin (CA) COM 063425102 2140 44250 SH DFND 0 44250 0 Barclays 20+ Year Treasury Bon COM 464287432 31896 229634 SH SOLE 229634 0 0 Barclays 3-7 Year Treasury Bon COM 464288661 3516 27610 SH SOLE 27610 0 0 Becton, Dickinson and Company COM 075887109 11501 67819 SH SOLE 67819 0 0 Bed Bath & Beyond Inc COM 075896100 28597 661652 SH SOLE 661652 0 0 Berkshire Hathaway Inc. - B COM 084670702 27917 192807 SH SOLE 192807 0 0 Berkshire Hathaway Inc. - Clas COM 084670108 1085 5 SH SOLE 5 0 0 Black Knight Financial Service COM 09214X100 4219 112205 SH SOLE 112205 0 0 BlackRock Kelso Capital Corp. COM 092533108 2266 291248 SH DFND 0 291248 0 Broadridge Financial Solutions COM 11133T103 53722 823955 SH SOLE 823955 0 0 Brown & Brown Inc. COM 115236101 29127 777334 SH DFND 0 777334 0 C.H. Robinson Worldwide Inc. COM 12541W209 48897 658552 SH SOLE 658552 0 0 Capstead Mortgage Corp. COM 14067E506 1072 110509 SH DFND 0 110509 0 Chemours COM 163851108 639 77523 SH SOLE 77523 0 0 Chevron Corp. COM 166764100 90812 866277 SH SOLE 866277 0 0 Chubb Limited COM H1467J104 71055 543606 SH SOLE 543606 0 0 CM Finance Inc COM 12574Q103 1755 197616 SH DFND 0 197616 0 Colgate-Palmolive Co. COM 194162103 63937 873452 SH SOLE 873452 0 0 Commerce Bancshares, Inc. COM 200525103 10413 217387 SH SOLE 217387 0 0 Compagnie Financiere Richemont COM 204319107 34905 5992238 SH SOLE 5992238 0 0 Compass Diversified Holdings COM 20451Q104 1463 88200 SH DFND 0 88200 0 Consumer Discret Select Sector COM 81369Y407 7880 100950 SH SOLE 100950 0 0 Consumer Staples Select Sector COM 81369Y308 5220 94659 SH SOLE 94659 0 0 Cullen Frost Bankers, Inc. COM 229899109 7610 119417 SH SOLE 119417 0 0 Culp Inc. COM 230215105 1113 40274 SH DFND 0 40274 0 CYS Investments Inc COM 12673A108 5853 699326 SH DFND 0 699326 0 Diageo (Adr 1:4) COM 25243Q205 76564 678279 SH SOLE 678279 0 0 Digital Realty Trust Inc. COM 253868103 36307 333127 SH SOLE 333127 0 0 Discovery Communications, Inc. COM 25470F302 39043 1637012 SH SOLE 1637012 0 0 Donaldson Inc COM 257651109 13606 395996 SH SOLE 395996 0 0 Dow Chemical COM 260543103 204 4103 SH SOLE 4103 0 0 Dow Jones US Financial Sector COM 464287788 5130 59692 SH SOLE 59692 0 0 Dow Jones US Technology - iSha COM 464287721 11791 111994 SH SOLE 111994 0 0 Dow Jones US Utilities - iShar COM 464287697 3997 30450 SH SOLE 30450 0 0 Du Pont E.I. De Nemours & Com COM 263534109 48594 749905 SH SOLE 749905 0 0 Energy Select Sector - SPDR COM 81369Y506 3426 50211 SH SOLE 50211 0 0 EOG Resources COM 26875P101 347 4162 SH SOLE 4162 0 0 Expeditors International of Wa COM 302130109 19620 400084 SH SOLE 400084 0 0 Exponent Inc. COM 30214U102 1962 33594 SH DFND 0 33594 0 Express Scripts Inc. COM 30219G108 25327 334125 SH SOLE 334125 0 0 Exxon Mobil Corp. COM 30231G102 11104 118457 SH SOLE 118457 0 0 Fastenal Co. COM 311900104 51219 1153843 SH SOLE 1153843 0 0 FEI Company COM 30241L109 3486 32619 SH SOLE 32619 0 0 Fidelity National Financial In COM 31620R303 63309 1688245 SH SOLE 1688245 0 0 Fifth Street Finance Corp. COM 31678A103 228 46910 SH SOLE 46910 0 0 First Majestic Silver Corp. COM 32076V103 167 12270 SH SOLE 12270 0 0 First Trust Mid Cap Growth Alp COM 33737M102 370 12317 SH SOLE 12317 0 0 First Trust Mid Cap Value Alph COM 33737M201 240 8583 SH SOLE 8583 0 0 First Trust S&P REIT COM 33734G108 242 9800 SH SOLE 9800 0 0 First Trust Small Cap Growth COM 33737M300 273 8736 SH SOLE 8736 0 0 FMC Corp. COM 302491303 233 5040 SH SOLE 5040 0 0 Forward Air Corp. COM 349853101 2020 45373 SH DFND 0 45373 0 Franco-Nevada Corp. COM 351858105 414 5441 SH SOLE 5441 0 0 Franklin Electric Co. Inc. COM 353514102 1902 57542 SH DFND 0 57542 0 Franklin Street Properties Cor COM 35471R106 736 60000 SH SOLE 60000 0 0 FS Investment Corp. COM 302635107 3750 414406 SH DFND 0 414406 0 General Dynamics Corp. COM 369550108 10015 71928 SH SOLE 71928 0 0 General Electric Company COM 369604103 53089 1686433 SH SOLE 1686433 0 0 Gladstone Capital Corporation COM 376535100 717 99045 SH DFND 0 99045 0 Gladstone Commercial Corp. COM 376536108 1992 117967 SH DFND 0 117967 0 Gladstone Investment Corp. COM 376546107 1021 142533 SH DFND 0 142533 0 GlaxoSmithKline Plc (Adr 1:2) COM 37733W105 57685 1330992 SH SOLE 1330992 0 0 Gold Shares - SPDR COM 78463V107 619 4893 SH SOLE 4893 0 0 Gold Trust - iShares COM 464285105 1382 108312 SH SOLE 108312 0 0 Goldman Sachs BDC Inc. COM 38147U107 4368 218493 SH DFND 0 218493 0 Golub Capital BDC Inc COM 38173M102 14102 780385 SH DFND 0 780385 0 Graco inc. COM 384109104 58833 744811 SH DFND 0 744811 0 Guggenheim BulletShares Corpor COM 18383M530 3582 167619 SH SOLE 167619 0 0 Guggenheim BulletShares Corpor COM 18383M522 3625 169162 SH SOLE 169162 0 0 Guggenheim BulletShares Corpor COM 18383M514 3642 167758 SH SOLE 167758 0 0 Guggenheim BulletShares Corpor COM 18383M233 3733 175848 SH SOLE 175848 0 0 Guggenheim BulletShares Invest COM 18383M266 3666 170347 SH SOLE 170347 0 0 Guggenheim BulletShares Invest COM 18383M258 3700 171770 SH SOLE 171770 0 0 Haemonetics Corporation COM 405024100 1622 55960 SH DFND 0 55960 0 Hallador Energy Company COM 40609P105 177 38412 SH SOLE 38412 0 0 Halyard Health Inc COM 40650V100 1982 60951 SH DFND 0 60951 0 Harvest Capital Credit Corp COM 41753F109 213 16699 SH DFND 0 16699 0 Hatteras Financial Corp. COM 41902R103 1569 95677 SH DFND 0 95677 0 Health Care Select Sector - SP COM 81369Y209 4708 65654 SH SOLE 65654 0 0 Hercules Technology Growth Cap COM 427096508 8618 693914 SH DFND 0 693914 0 Hilton Worldwide Holdings Inc COM 43300A104 2751 122099 SH SOLE 122099 0 0 Home Depot Inc. COM 437076102 12807 100294 SH SOLE 100294 0 0 Horizon Technology COM 44045A102 2184 179012 SH DFND 0 179012 0 Illinois Tool Works Inc. COM 452308109 30649 294246 SH SOLE 294246 0 0 Industrial Select Sector - SPD COM 81369Y704 4945 88296 SH SOLE 88296 0 0 Iron Mountain COM 46284V101 63620 1597282 SH SOLE 1597282 0 0 iShares 10+ Year Credit Bond E COM 464289511 9347 149192 SH SOLE 149192 0 0 iShares 7-10 Year Treasury Bon COM 464287440 19965 176754 SH SOLE 176754 0 0 iShares Barclays 1-3 Year Inve COM 464288646 260 2452 SH SOLE 2452 0 0 iShares Corporate Bond ETF 202 COM 46432FAZ0 8548 79093 SH SOLE 79093 0 0 iShares Corporate ex Financial COM 46432FAG2 9490 95808 SH SOLE 95808 0 0 iShares Corporate ex Financial COM 46432FAK3 6018 59939 SH SOLE 59939 0 0 iShares Corporate ex Financial COM 46432FAN7 12201 121497 SH SOLE 121497 0 0 iShares iBonds Dec 2021 AMT-Fr COM 46435G789 2764 105651 SH SOLE 105651 0 0 iShares iBonds Sep 2019 Amt Fr COM 46429B564 1922 74706 SH SOLE 74706 0 0 iShares iBonds Sep 2020 Amt Fr COM 46434V571 2767 106583 SH SOLE 106583 0 0 iShares iBoxx Corporate Bond E COM 464287242 3074 25049 SH SOLE 25049 0 0 iShares Interm. Term Corporate COM 464288638 4946 44455 SH SOLE 44455 0 0 iShares MBS Bond ETF COM 464288588 7147 64993 SH SOLE 64993 0 0 iShares National AMT-Free Muni COM 464288414 2810 24663 SH SOLE 24663 0 0 iShares Residential Real Estat COM 464288562 13214 195756 SH SOLE 195756 0 0 John Bean Technologies Corp. COM 477839104 2493 40726 SH DFND 0 40726 0 Johnson & Johnson COM 478160104 98038 808230 SH SOLE 808230 0 0 KCAP Financial Inc COM 48668E101 1335 340472 SH DFND 0 340472 0 Kinder Morgan Inc. COM 49456B101 44041 2352603 SH SOLE 2352603 0 0 Kohl's Corp. COM 500255104 42623 1124019 SH SOLE 1124019 0 0 Kraft Heinz Co. COM 500754106 63206 714349 SH SOLE 714349 0 0 Landstar System Inc. COM 515098101 1768 25743 SH DFND 0 25743 0 Linear Technology Corp COM 535678106 63559 1365972 SH SOLE 1365972 0 0 Lockheed Martin Corp COM 539830109 11579 46656 SH SOLE 46656 0 0 Lowe's Companies Inc. COM 548661107 34240 432489 SH SOLE 432489 0 0 M&T Bank Corp. COM 55261F104 9024 76328 SH SOLE 76328 0 0 Main Street Capital Corp. COM 56035L104 4239 129038 SH DFND 0 129038 0 Manatuck Hill Mariner Offshore COM 562996983 379 2813 SH SOLE 2813 0 0 Markel Corp. COM 570535104 52322 54915 SH SOLE 54915 0 0 Martin Marietta Materials Inc. COM 573284106 56221 292816 SH SOLE 292816 0 0 Mastercard Inc. - A COM 57636Q104 34217 388566 SH SOLE 388566 0 0 Mattel Inc COM 577081102 39423 1259939 SH SOLE 1259939 0 0 McDonald's Corp. COM 580135101 10392 86355 SH SOLE 86355 0 0 MDU Resources Group Inc. COM 552690109 11290 470432 SH SOLE 470432 0 0 Medallion Financial Corp COM 583928106 615 83353 SH DFND 0 83353 0 Medley Capital Corp. COM 58503F106 4403 657221 SH DFND 0 657221 0 Medtronic COM G5960L103 10574 121864 SH SOLE 121864 0 0 Microsoft Corp. COM 594918104 67360 1316388 SH SOLE 1316388 0 0 Monotype Imaging Holdings Inc COM 61022P100 2124 86230 SH DFND 0 86230 0 Morningstar Inc. COM 617700109 11979 146483 SH DFND 0 146483 0 MSC Industrial Direct Co. Inc COM 553530106 17651 250161 SH SOLE 250161 0 0 MTS Systems Corp. COM 553777103 11517 262705 SH DFND 0 262705 0 Mueller Industries Inc. COM 624756102 2123 66592 SH DFND 0 66592 0 National Interstate Corporatio COM 63654U100 2165 71573 SH DFND 0 71573 0 Natus Medical Inc COM 639050103 2634 69675 SH DFND 0 69675 0 Nestle SA COM 641069406 9502 122905 SH SOLE 122905 0 0 New Jersey Resources Corp. COM 646025106 11627 301618 SH SOLE 301618 0 0 New Mountain Finance Corp. COM 647551100 10633 824266 SH DFND 0 824266 0 Nike Inc. - B COM 654106103 8222 148948 SH SOLE 148948 0 0 Nordstrom Inc. COM 655664100 6117 160759 SH SOLE 160759 0 0 Northern Trust Corporation COM 665859104 59284 894711 SH SOLE 894711 0 0 Novartis AG - ADR COM 66987V109 8777 106371 SH SOLE 106371 0 0 NXP Semiconductors COM N6596X109 5914 75495 SH SOLE 75495 0 0 Occidental Petroleum Corp COM 674599105 10131 134076 SH SOLE 134076 0 0 OFS Capital Corp. COM 67103B100 4757 370211 SH DFND 0 370211 0 Onebeacon Insurance Group Ltd COM G67742109 2010 145622 SH DFND 0 145622 0 Patterson Companies, Inc. COM 703395103 5519 115249 SH DFND 0 115249 0 Paychex, Inc. COM 704326107 66511 1117828 SH SOLE 1117828 0 0 PennantPark Floating Rate Capi COM 70806A106 1895 152838 SH DFND 0 152838 0 PennantPark Investment Corp. COM 708062104 6247 914637 SH DFND 0 914637 0 Pepsico, Inc COM 713448108 94011 887398 SH SOLE 887398 0 0 Pfizer Inc. COM 717081103 55373 1572656 SH SOLE 1572656 0 0 Piedmont Natural Gas Co. Inc. COM 720186105 1890 31433 SH SOLE 31433 0 0 Pioneer Natural Resources Co. COM 723787107 307 2028 SH SOLE 2028 0 0 Polaris Industries COM 731068102 9433 115377 SH SOLE 115377 0 0 Potbelly Corp COM 73754Y100 2142 170826 SH DFND 0 170826 0 Potlatch Corp. COM 737630103 243 7130 SH SOLE 7130 0 0 Praxair Inc. COM 74005P104 56456 502325 SH SOLE 502325 0 0 Procter & Gamble Company COM 742718109 9810 115862 SH SOLE 115862 0 0 Progressive Corp. COM 743315103 52980 1581487 SH SOLE 1581487 0 0 Raven Industries Inc COM 754212108 2018 106521 SH DFND 0 106521 0 Rayonier Inc. COM 754907103 53644 2044349 SH DFND 0 2044349 0 RBC Bearings Incorporated COM 75524B104 1109 15301 SH DFND 0 15301 0 RE/Max Holdings COM 75524W108 18695 464350 SH DFND 0 464350 0 REIT Index - Vanguard COM 922908553 9235 104153 SH SOLE 104153 0 0 Royal Gold, Inc. COM 780287108 371 5146 SH SOLE 5146 0 0 Russell 1000 Growth Index Fund COM 464287614 263 2616 SH SOLE 2616 0 0 Russell 2000 Growth Index - iS COM 464287648 9835 71693 SH SOLE 71693 0 0 Russell 2000 Value Index - iSh COM 464287630 9643 99120 SH SOLE 99120 0 0 Russell Midcap Growth Index Fu COM 464287481 10528 112501 SH SOLE 112501 0 0 S&P 500 - SPDR COM 78462F103 2219 10593 SH SOLE 10593 0 0 S&P 500 Growth Index - iShares COM 464287309 370 3175 SH SOLE 3175 0 0 S&P 500 Value Index - iShares COM 464287408 446 4804 SH SOLE 4804 0 0 S&P MidCap 400 Growth Index Fu COM 464287606 21785 128820 SH SOLE 128820 0 0 S&P MidCap 400 Value Index Fun COM 464287705 21593 168626 SH SOLE 168626 0 0 S&P SmallCap 600 Growth Index COM 464287887 9435 73474 SH SOLE 73474 0 0 S&P SmallCap 600 Index Fund - COM 464287804 292 2509 SH SOLE 2509 0 0 S&P SmallCap 600 Value Index F COM 464287879 8722 74656 SH SOLE 74656 0 0 Sandstorm Gold LTD COM 80013R206 240 53717 SH SOLE 53717 0 0 Schlumberger Ltd. COM 806857108 24619 311322 SH SOLE 311322 0 0 SEI Investments Company COM 784117103 9970 207235 SH SOLE 207235 0 0 Silver Trust - iShares COM 46428Q109 285 15979 SH SOLE 15979 0 0 Silver Wheaton Corp. COM 828336107 393 16716 SH SOLE 16716 0 0 Small Cap Growth - Vanguard ET COM 922908595 7457 60187 SH SOLE 60187 0 0 Snyders-Lance Inc COM 833551104 2356 69520 SH DFND 0 69520 0 Solar Capital, LTD. COM 83413U100 9967 523187 SH DFND 0 523187 0 Southern Company COM 842587107 64613 1204793 SH SOLE 1204793 0 0 SPDR Interm. Term Corporate Bo COM 78464A375 9707 278211 SH SOLE 278211 0 0 SPDR Nuveen Barclays Capital M COM 78468R721 6242 123386 SH SOLE 123386 0 0 Stellus Capital Investment COM 858568108 4013 391917 SH DFND 0 391917 0 Stryker Corp. COM 863667101 62992 525675 SH SOLE 525675 0 0 T. Rowe Price Group, Inc. COM 74144T108 9124 125032 SH SOLE 125032 0 0 TCP Capital Corp COM 87238Q103 10436 682954 SH DFND 0 682954 0 Techne Corp. COM 09073M104 2452 21740 SH DFND 0 21740 0 The Clorox Company COM 189054109 11620 83966 SH SOLE 83966 0 0 Thermo Fisher Scientific, Inc. COM 883556102 28822 195062 SH SOLE 195062 0 0 Thermon Group Holdings Inc COM 88362T103 1883 98004 SH DFND 0 98004 0 THL Credit COM 872438106 10393 933783 SH DFND 0 933783 0 TJX Companies COM 872540109 37778 489159 SH SOLE 489159 0 0 Torex Gold Res Inc COM 891054108 86 47840 SH SOLE 47840 0 0 TPG Specialty Lending Inc Com COM 87265K102 6149 370218 SH DFND 0 370218 0 Triangle Capital Corp COM 895848109 8487 437921 SH DFND 0 437921 0 Triplepoint Venture Growth BDC COM 89677Y100 7826 738959 SH DFND 0 738959 0 United States Natural Gas Fund COM 912318201 121 13974 SH SOLE 13974 0 0 United Technologies Corp. COM 913017109 29784 290429 SH SOLE 290429 0 0 VanEck Vectors Long Municipal COM 92189F536 11880 563049 SH SOLE 563049 0 0 Vanguard Interm. Term Corporat COM 92206C870 910 10180 SH SOLE 10180 0 0 Vanguard Long Term Corporate B COM 92206C813 15689 165956 SH SOLE 165956 0 0 Vanguard MSCI Emerging Markets COM 922042858 352 9985 SH SOLE 9985 0 0 Varian Medical Systems Inc. COM 92220P105 2890 35149 SH SOLE 35149 0 0 VCA Antech Inc. COM 918194101 3198 47295 SH DFND 0 47295 0 Visa, Inc. - A COM 92826C839 221 2980 SH SOLE 2980 0 0 Vulcan Materials Co. COM 929160109 329 2733 SH SOLE 2733 0 0 W.R. Berkley Corp COM 084423102 30257 504951 SH SOLE 504951 0 0 W.W. Grainger, Inc. COM 384802104 8755 38526 SH SOLE 38526 0 0 Wells Fargo & Company COM 949746101 22079 466500 SH SOLE 466500 0 0 Weyerhaeuser Co. COM 962166104 54066 1816119 SH SOLE 1816119 0 0