0001442055-17-000001.txt : 20170214 0001442055-17-000001.hdr.sgml : 20170214 20170214154117 ACCESSION NUMBER: 0001442055-17-000001 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20161231 FILED AS OF DATE: 20170214 DATE AS OF CHANGE: 20170214 EFFECTIVENESS DATE: 20170214 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: 17608113 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 12-31-2016 12-31-2016 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 John Hanzlik Saint Louis MO 02-14-2017 1 235 4119479 false 1 028-06487 First Trust Advisors L.P. INFORMATION TABLE 2 13fdec2016ver1.xml Vanguard Equity-Income Admiral MFUND 921921300 221 3237 SH SOLE 3237 0 0 iShares iBonds Dec 2022 AMT-F COM 46435G755 6548 258420 SH SOLE 258420 0 0 3M Company COM 88579Y101 82474 461858 SH SOLE 461858 0 0 Advisory Board Company COM 00762w107 24409 734107 SH DFND 0 734107 0 Air Products & Chemicals Inc. COM 009158106 11497 79938 SH SOLE 79938 0 0 Alcentra Capital Corporation COM 01374T102 2297 191932 SH DFND 0 191932 0 Allergan Inc. COM G0177J108 52107 248118 SH SOLE 248118 0 0 Alphabet Inc. Class- C COM 02079K107 20170 26134 SH SOLE 26134 0 0 Alphabet Inc. Class - A COM 02079K305 2860 3609 SH SOLE 3609 0 0 Altria Group Inc. COM 02209S103 284 4202 SH SOLE 4202 0 0 American Express Company COM 025816109 38778 523460 SH SOLE 523460 0 0 American International Group I COM 026874784 55804 854451 SH SOLE 854451 0 0 Analog Devices Inc. COM 032654105 13659 188092 SH SOLE 188092 0 0 Anheuser-Busch InBev SA/NV COM 03524A108 284 2690 SH SOLE 2690 0 0 Annaly Capital Management Inc. COM 035710409 4107 411902 SH DFND 0 411902 0 Apollo Investment Corp. COM 03761U106 3229 551102 SH DFND 0 551102 0 Apple Inc. COM 037833100 201 1736 SH SOLE 1736 0 0 Ares Capital Corp. COM 04010L103 73798 4475327 SH DFND 0 4475327 0 Bank of Marin (CA) COM 063425102 3392 48631 SH DFND 0 48631 0 Barclays 20 Year Treasury Bond COM 464287432 11616 97509 SH SOLE 97509 0 0 Barclays Aggregate Bond Fund - COM 464287226 228 2114 SH SOLE 2114 0 0 Becton Dickinson and Company COM 075887109 12400 74905 SH SOLE 74905 0 0 Berkshire Hathaway Inc. - B COM 084670702 29660 181983 SH SOLE 181983 0 0 Berkshire Hathaway Inc. - Clas COM 084670108 1221 5 SH SOLE 5 0 0 Black Knight Financial Service COM 09214X100 5438 143864 SH SOLE 143864 0 0 BlackRock Kelso Capital Corp. COM 092533108 1258 180701 SH DFND 0 180701 0 Boston Beer Co Inc/The COM 100557107 1486 8747 SH DFND 0 8747 0 Broadridge Financial Solutions COM 11133T103 61914 933846 SH SOLE 933846 0 0 Brown & Brown Inc. COM 115236101 20830 464330 SH DFND 0 464330 0 C.H. Robinson Worldwide Inc. COM 12541W209 56134 766223 SH SOLE 766223 0 0 Cameco Corp. COM 13321L108 129 12339 SH SOLE 12339 0 0 Capitala Finance Corp COM 14054R106 1105 85495 SH DFND 0 85495 0 Capstead Mortgage Corp. COM 14067E506 1126 110509 SH DFND 0 110509 0 Chevron Corp. COM 166764100 86200 732369 SH SOLE 732369 0 0 Chubb Limited COM H1467J104 82687 625850 SH SOLE 625850 0 0 Cimarex Energy Co. COM 171798101 261 1922 SH SOLE 1922 0 0 CM Finance Inc COM 12574Q103 2227 239457 SH DFND 0 239457 0 Colgate-Palmolive Co. COM 194162103 69693 1064987 SH SOLE 1064987 0 0 Commerce Bancshares Inc. COM 200525103 14688 254066 SH SOLE 254066 0 0 Compagnie Financiere Richemont COM 204319107 42487 6476656 SH SOLE 6476656 0 0 Compass Diversified Holdings COM 20451Q104 1579 88200 SH DFND 0 88200 0 CONSOL Energy Inc. COM 20854P109 247 13544 SH SOLE 13544 0 0 Consumer Discret Select Sector COM 81369Y407 3848 47270 SH SOLE 47270 0 0 Consumer Staples Select Sector COM 81369Y308 2438 47140 SH SOLE 47140 0 0 Corporate Executive Board Co. COM 125134106 2895 47780 SH DFND 0 47780 0 Cullen Frost Bankers Inc. COM 229899109 11574 131180 SH SOLE 131180 0 0 Culp Inc. COM 230215105 1544 41560 SH DFND 0 41560 0 CYS Investments Inc COM 12673A108 5986 774326 SH DFND 0 774326 0 Diageo (Adr 1:4) COM 25243Q205 84863 816463 SH SOLE 816463 0 0 Digital Realty Trust Inc. COM 253868103 37834 385038 SH SOLE 385038 0 0 Discovery Communications Inc. COM 25470F302 47247 1764268 SH SOLE 1764268 0 0 Donaldson Inc COM 257651109 13072 310636 SH SOLE 310636 0 0 Donnelley Financial Solution COM 25787G100 18766 816626 SH DFND 0 816626 0 Dow Chemical COM 260543103 447 7806 SH SOLE 7806 0 0 Dow Jones U.S. Select Dividend COM 464288448 501 16934 SH SOLE 16934 0 0 Dow Jones US Financial Sector COM 464287788 2498 24617 SH SOLE 24617 0 0 Dow Jones US Technology - iSha COM 464287721 6392 53159 SH SOLE 53159 0 0 Du Pont E.I. De Nemours & Com COM 263534109 70540 961030 SH SOLE 961030 0 0 Energy Select Sector - SPDR COM 81369Y506 2549 33847 SH SOLE 33847 0 0 EOG Resources COM 26875P101 418 4130 SH SOLE 4130 0 0 ETFs Platinum Trust COM 26922v101 329 3808 SH SOLE 3808 0 0 Expeditors International of Wa COM 302130109 11208 211629 SH SOLE 211629 0 0 Exponent Inc. COM 30214U102 2398 39765 SH DFND 0 39765 0 Express Scripts Inc. COM 30219G108 22587 328349 SH SOLE 328349 0 0 Exxon Mobil Corp. COM 30231G102 12182 134971 SH SOLE 134971 0 0 Fastenal Co. COM 311900104 82246 1750659 SH SOLE 1750659 0 0 Fidelity National Financial In COM 31620R303 69388 2043216 SH SOLE 2043216 0 0 FMC Corp. COM 302491303 242 4281 SH SOLE 4281 0 0 Forward Air Corp. COM 349853101 2594 54751 SH DFND 0 54751 0 Franco-Nevada Corp. COM 351858105 283 4734 SH SOLE 4734 0 0 Franklin Electric Co. Inc. COM 353514102 2249 57804 SH DFND 0 57804 0 Franklin Street Properties Cor COM 35471R106 778 60000 SH SOLE 60000 0 0 FS Investment Corp. COM 302635107 8008 777470 SH DFND 0 777470 0 General Dynamics Corp. COM 369550108 13915 80591 SH SOLE 80591 0 0 General Electric Company COM 369604103 57363 1815270 SH SOLE 1815270 0 0 Gladstone Commercial Corp. COM 376536108 2681 133376 SH DFND 0 133376 0 Gladstone Investment Corp. COM 376546107 1206 142533 SH DFND 0 142533 0 GlaxoSmithKline Plc (Adr 1:2) COM 37733W105 59299 1539843 SH SOLE 1539843 0 0 Gold Shares - SPDR COM 78463V107 2576 23501 SH SOLE 23501 0 0 Gold Trust - iShares COM 464285105 1034 93330 SH SOLE 93330 0 0 Goldman Sachs BDC Inc. COM 38147U107 3237 137638 SH DFND 0 137638 0 Golub Capital BDC Inc COM 38173M102 14366 781172 SH DFND 0 781172 0 Graco inc. COM 384109104 72606 873825 SH DFND 0 873825 0 Guggenheim BulletShares Corpor COM 18383M530 4804 226807 SH SOLE 226807 0 0 Guggenheim BulletShares Corpor COM 18383M522 4801 227093 SH SOLE 227093 0 0 Guggenheim BulletShares Corpor COM 18383M514 4797 226276 SH SOLE 226276 0 0 Guggenheim BulletShares Corpor COM 18383M233 9185 449584 SH SOLE 449584 0 0 Guggenheim BulletShares Invest COM 18383M266 4783 227859 SH SOLE 227859 0 0 Guggenheim BulletShares Invest COM 18383M258 4792 229056 SH SOLE 229056 0 0 Guggenheim BulletShares Invest COM 18383M191 2476 122813 SH SOLE 122813 0 0 Haemonetics Corporation COM 405024100 2233 55547 SH DFND 0 55547 0 Hallador Energy Company COM 40609P105 297 32625 SH SOLE 32625 0 0 Halyard Health Inc COM 40650V100 2723 73647 SH DFND 0 73647 0 Harvest Capital Credit Corp COM 41753F109 230 16699 SH DFND 0 16699 0 Health Care Select Sector - SP COM 81369Y209 3547 51456 SH SOLE 51456 0 0 Hercules Technology Growth Cap COM 427096508 10269 727777 SH DFND 0 727777 0 Hilton Worldwide Holdings Inc COM 43300A203 4262 156690 SH SOLE 156690 0 0 Home Depot Inc. COM 437076102 14912 111218 SH SOLE 111218 0 0 Illinois Tool Works Inc. COM 452308109 32231 263199 SH SOLE 263199 0 0 Industrial Select Sector - SPD COM 81369Y704 3240 52075 SH SOLE 52075 0 0 Iron Mountain COM 46284V101 65129 2005197 SH SOLE 2005197 0 0 iShares 10 Year Credit Bond COM 464289511 2798 47662 SH SOLE 47662 0 0 iShares 7-10 Year Treasury Bon COM 464287440 27420 261588 SH SOLE 261588 0 0 iShares Barclays 1-3 Year Inve COM 464288646 564 5375 SH SOLE 5375 0 0 iShares Core US Values - ETF COM 464287663 3985 81099 SH SOLE 81099 0 0 iShares Corporate Bond ETF 202 COM 46432FAZ0 11245 428721 SH SOLE 428721 0 0 iShares Corporate ex Financial COM 46432FAG2 12817 520195 SH SOLE 520195 0 0 iShares Corporate ex Financial COM 46432FAK3 8036 326547 SH SOLE 326547 0 0 iShares Corporate ex Financial COM 46432FAN7 16043 663756 SH SOLE 663756 0 0 iShares iBonds Dec 2021 AMT-Fr COM 46435G789 5370 212428 SH SOLE 212428 0 0 iShares iBonds Sep 2019 Amt Fr COM 46429B564 2734 107917 SH SOLE 107917 0 0 iShares iBonds Sep 2020 Amt Fr COM 46434V571 3895 154328 SH SOLE 154328 0 0 iShares iBoxx Corporate Bond E COM 464287242 2578 21997 SH SOLE 21997 0 0 iShares Interm. Term Corporate COM 464288638 6475 59846 SH SOLE 59846 0 0 iShares MBS Bond ETF COM 464288588 13987 131532 SH SOLE 131532 0 0 iShares National AMT-Free Muni COM 464288414 4017 37135 SH SOLE 37135 0 0 iShares Residential Real Estat COM 464288562 2310 37255 SH SOLE 37255 0 0 John Bean Technologies Corp. COM 477839104 2367 27538 SH DFND 0 27538 0 Johnson & Johnson COM 478160104 105138 912580 SH SOLE 912580 0 0 KCAP Financial Inc COM 48668E101 1355 340472 SH DFND 0 340472 0 Kinder Morgan Inc. COM 49456B101 59278 2862279 SH SOLE 2862279 0 0 Kohl's Corp. COM 500255104 55347 1120846 SH SOLE 1120846 0 0 Kraft Heinz Co. COM 500754106 74739 855921 SH SOLE 855921 0 0 Linear Technology Corp COM 535678106 79504 1275127 SH SOLE 1275127 0 0 Lockheed Martin Corp COM 539830109 12610 50450 SH SOLE 50450 0 0 Lowe's Companies Inc. COM 548661107 44752 629241 SH SOLE 629241 0 0 M&T Bank Corp. COM 55261F104 13810 88280 SH SOLE 88280 0 0 Main Street Capital Corp. COM 56035L104 4644 126288 SH DFND 0 126288 0 Manatuck Hill Mariner Offshore COM 562996983 366 2650 SH SOLE 2650 0 0 Markel Corp. COM 570535104 51376 56800 SH SOLE 56800 0 0 Market Vectors Int Muni Index COM 92189F544 744 32098 SH SOLE 32098 0 0 Martin Marietta Materials Inc. COM 573284106 70531 318383 SH SOLE 318383 0 0 Mastercard Inc. - A COM 57636Q104 41760 404457 SH SOLE 404457 0 0 Materials Select Sector - SPDR COM 81369Y100 930 18706 SH SOLE 18706 0 0 Mattel Inc COM 577081102 45634 1656417 SH SOLE 1656417 0 0 McDonald's Corp. COM 580135101 12107 99467 SH SOLE 99467 0 0 MDU Resources Group Inc. COM 552690109 13989 486220 SH SOLE 486220 0 0 Medallion Financial Corp COM 583928106 252 83353 SH DFND 0 83353 0 Medley Capital Corp. COM 58503F106 4410 587221 SH DFND 0 587221 0 Medtronic COM G5960L103 9959 139821 SH SOLE 139821 0 0 Microsoft Corp. COM 594918104 86113 1385790 SH SOLE 1385790 0 0 Monotype Imaging Holdings Inc COM 61022P100 2661 134056 SH DFND 0 134056 0 Morningstar Inc. COM 617700109 10245 139273 SH DFND 0 139273 0 MSC Industrial Direct Co. Inc COM 553530106 17808 192746 SH SOLE 192746 0 0 MTS Systems Corp. COM 553777103 17507 308770 SH DFND 0 308770 0 Mueller Industries Inc. COM 624756102 3095 77447 SH DFND 0 77447 0 Natus Medical Inc COM 639050103 2790 80164 SH DFND 0 80164 0 Nestle SA COM 641069406 10120 141069 SH SOLE 141069 0 0 New Jersey Resources Corp. COM 646025106 12223 344312 SH SOLE 344312 0 0 New Mountain Finance Corp. COM 647551100 13139 931841 SH DFND 0 931841 0 Nike Inc. - B COM 654106103 9216 181307 SH SOLE 181307 0 0 Noble Energy Inc COM 655044105 251 6598 SH SOLE 6598 0 0 Nordstrom Inc. COM 655664100 9216 192277 SH SOLE 192277 0 0 Northern Trust Corporation COM 665859104 90542 1016760 SH SOLE 1016760 0 0 Novartis AG - ADR COM 66987V109 9335 128163 SH SOLE 128163 0 0 NXP Semiconductors COM N6596X109 45572 464970 SH SOLE 464970 0 0 Occidental Petroleum Corp COM 674599105 10622 149122 SH SOLE 149122 0 0 OFS Capital Corp. COM 67103B100 5227 379833 SH DFND 0 379833 0 Onebeacon Insurance Group Ltd COM G67742109 2723 169630 SH DFND 0 169630 0 Parsley Energy Inc COM 701877102 258 7330 SH SOLE 7330 0 0 Patterson Companies Inc. COM 703395103 7395 180224 SH DFND 0 180224 0 Paychex Inc. COM 704326107 84608 1389753 SH SOLE 1389753 0 0 PennantPark Floating Rate Capi COM 70806A106 2195 155556 SH DFND 0 155556 0 PennantPark Investment Corp. COM 708062104 6793 886750 SH DFND 0 886750 0 Pepsico Inc COM 713448108 102450 979165 SH SOLE 979165 0 0 Pfizer Inc. COM 717081103 60735 1869907 SH SOLE 1869907 0 0 Philip Morris International, I COM 718172109 221 2413 SH SOLE 2413 0 0 Pioneer Natural Resources Co. COM 723787107 254 1408 SH SOLE 1408 0 0 Polaris Industries COM 731068102 11046 134071 SH SOLE 134071 0 0 Potbelly Corp COM 73754Y100 2594 201078 SH DFND 0 201078 0 Praxair Inc. COM 74005P104 70240 599372 SH SOLE 599372 0 0 Procter & Gamble Company COM 742718109 11299 134386 SH SOLE 134386 0 0 Progressive Corp. COM 743315103 72425 2040127 SH SOLE 2040127 0 0 Raven Industries Inc COM 754212108 3039 120606 SH DFND 0 120606 0 Rayonier Inc. COM 754907103 63839 2399951 SH DFND 0 2399951 0 RBC Bearings Incorporated COM 75524B104 1626 17523 SH DFND 0 17523 0 RE/Max Holdings COM 75524W108 17557 313515 SH DFND 0 313515 0 REIT Index - Vanguard COM 922908553 3264 39547 SH SOLE 39547 0 0 Royal Gold, Inc. COM 780287108 276 4359 SH SOLE 4359 0 0 RSP Permian Inc COM 74978Q105 257 5764 SH SOLE 5764 0 0 Russell 1000 Value Index - iSh COM 464287598 430 3842 SH SOLE 3842 0 0 Russell 2000 Growth Index - iS COM 464287648 4787 31098 SH SOLE 31098 0 0 Russell 2000 Value Index - iSh COM 464287630 5695 47882 SH SOLE 47882 0 0 Russell Midcap Growth Index Fu COM 464287481 4811 49404 SH SOLE 49404 0 0 S&P 500 - SPDR COM 78462F103 2990 13378 SH SOLE 13378 0 0 S&P 500 Growth Index - iShares COM 464287309 230 1888 SH SOLE 1888 0 0 S&P 500 Index Fund - iShares COM 464287200 1158 5147 SH SOLE 5147 0 0 S&P 500 Value Index - iShares COM 464287408 381 3762 SH SOLE 3762 0 0 S&P MidCap 400 Growth Index Fu COM 464287606 5611 30794 SH SOLE 30794 0 0 S&P MidCap 400 Value Index Fun COM 464287705 7520 51787 SH SOLE 51787 0 0 S&P SmallCap 600 Growth Index COM 464287887 4427 29515 SH SOLE 29515 0 0 S&P SmallCap 600 Index Fund - COM 464287804 245 1779 SH SOLE 1779 0 0 S&P SmallCap 600 Value Index F COM 464287879 2331 16646 SH SOLE 16646 0 0 Sandstorm Gold LTD COM 80013R206 178 45521 SH SOLE 45521 0 0 Schlumberger Ltd. COM 806857108 25734 306545 SH SOLE 306545 0 0 SEI Investments Company COM 784117103 11881 240695 SH SOLE 240695 0 0 Silver Wheaton Corp. COM 828336107 275 14212 SH SOLE 14212 0 0 Small Cap Growth - Vanguard ET COM 922908595 1695 12731 SH SOLE 12731 0 0 Snyders-Lance Inc COM 833551104 2985 77847 SH DFND 0 77847 0 Solar Capital, LTD. COM 83413U100 10988 527738 SH DFND 0 527738 0 Solar Senior Capital Ltd. COM 83416M105 1464 89022 SH DFND 0 89022 0 Southern Company COM 842587107 75387 1532569 SH SOLE 1532569 0 0 Southwestern Energy Co. COM 845467109 252 23290 SH SOLE 23290 0 0 SPDR Interm. Term Corporate Bo COM 78464A375 12826 378235 SH SOLE 378235 0 0 SPDR Nuveen Barclays Capital M COM 78468R721 8457 178269 SH SOLE 178269 0 0 Starbucks Corporation COM 855244109 12040 216861 SH SOLE 216861 0 0 Stellus Capital Investment COM 858568108 5239 434436 SH DFND 0 434436 0 Stryker Corp. COM 863667101 66663 556409 SH SOLE 556409 0 0 T. Rowe Price Group Inc. COM 74144T108 11175 148480 SH SOLE 148480 0 0 TCP Capital Corp COM 87238Q103 12541 742062 SH DFND 0 742062 0 Techne Corp. COM 09073M104 2272 22090 SH DFND 0 22090 0 The Clorox Company COM 189054109 11545 96190 SH SOLE 96190 0 0 The Coca-Cola Company COM 191216100 201 4850 SH SOLE 4850 0 0 Thermo Fisher Scientific Inc. COM 883556102 26099 184971 SH SOLE 184971 0 0 Thermon Group Holdings Inc COM 88362T103 2322 121651 SH DFND 0 121651 0 THL Credit COM 872438106 9448 943835 SH DFND 0 943835 0 TJX Companies COM 872540109 37170 494741 SH SOLE 494741 0 0 TPG Specialty Lending Inc Com COM 87265K102 7444 398487 SH DFND 0 398487 0 Triangle Capital Corp COM 895848109 8744 476784 SH DFND 0 476784 0 Triplepoint Venture Growth BDC COM 89677Y100 8832 749703 SH DFND 0 749703 0 United Technologies Corp. COM 913017109 30224 275712 SH SOLE 275712 0 0 VanEck Vectors Long Municipal COM 92189F536 8794 454232 SH SOLE 454232 0 0 Vanguard Long Term Corporate B COM 92206C813 3775 42247 SH SOLE 42247 0 0 Vanguard MSCI Emerging Markets COM 922042858 3916 109433 SH SOLE 109433 0 0 Vanguard Total Stock Market COM 922908769 523 4531 SH SOLE 4531 0 0 Varian Medical Systems Inc. COM 92220P105 4122 45907 SH SOLE 45907 0 0 VCA Antech Inc. COM 918194101 3526 51359 SH DFND 0 51359 0 Visa, Inc. - A COM 92826C839 310 3978 SH SOLE 3978 0 0 Vulcan Materials Co. COM 929160109 289 2308 SH SOLE 2308 0 0 W.R. Berkley Corp COM 084423102 31210 469247 SH SOLE 469247 0 0 W.W. Grainger Inc. COM 384802104 10551 45428 SH SOLE 45428 0 0 Wells Fargo & Company COM 949746101 227 4111 SH SOLE 4111 0 0 Weyerhaeuser Co. COM 962166104 64605 2147067 SH SOLE 2147067 0 0 WisdomTree LargeCap Dividend F COM 97717W307 942 11789 SH SOLE 11789 0 0 WisdomTree LargeCap Value Fund COM 97717W547 275 4062 SH SOLE 4062 0 0