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CIM

Confluence Investment Management Portfolio holdings

AUM $6.4B
1-Year Est. Return 9.79%
This Fund
S&P 500
This Quarter Est. Return
+6.69%
1 Year Est. Return
+9.79%
3 Year Est. Return
+34.83%
5 Year Est. Return
+43.81%
10 Year Est. Return
+166.84%
AUM
$1.81B
AUM Growth
+$194M
Cap. Flow
+$94.1M
Cap. Flow %
5.2%
Top 10 Hldgs %
20.73%
Holding
272
New
18
Increased
142
Reduced
83
Closed
17

Top Buys

Rank Stock Value
1
NTRS icon
Northern Trust
NTRS
+$16.8M
2
CVX icon
Chevron
CVX
+$12.6M
3
IJK icon
iShares S&P Mid-Cap 400 Growth ETF
IJK
+$11.3M
4
NXPI icon
NXP Semiconductors
NXPI
+$9.92M
5
RYN icon
Rayonier
RYN
+$8.28M

Top Sells

Rank Stock Value
1
RLI icon
RLI Corp
RLI
+$21.2M
2
DJP icon
iPath Bloomberg Commodity Index Total Return ETN due 12 June 2036
DJP
+$10.6M
3
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$7.59M
4
LDR
Landauer Inc
LDR
+$7.53M
5
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$7.53M

Sector Composition

Rank Sector Weight
1 Financials 21.26%
2 Industrials 12.98%
3 Healthcare 8.69%
4 Technology 8.3%
5 Energy 5.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TJX icon
51
TJX Companies
TJX
$174B
$11.2M 0.62%
350,252
-7,676
-2% -$233K
WAT icon
52
Waters Corp
WAT
$37B
$11.1M 0.61%
111,109
+4,995
+5% +$504K
BBBY
53
DELISTED
Bed Bath & Beyond Inc
BBBY
$11.1M 0.61%
138,256
+3,938
+3% +$305K
MA icon
54
Mastercard
MA
$502B
$11M 0.61%
132,140
-12,680
-9% -$942K
JNK icon
55
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$6.9B
$10.9M 0.6%
89,401
-62,602
-41% -$7.59M
DISCK
56
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$10.8M 0.6%
257,168
-10,644
-4% -$417K
PNNT
57
Pennant Park Investment Corp
PNNT
$215M
$10.7M 0.59%
919,901
-109,593
-11% -$1.26M
BRK.B icon
58
Berkshire Hathaway Class B
BRK.B
$1.1T
$10.6M 0.59%
89,610
+3,351
+4% +$387K
WFC icon
59
Wells Fargo
WFC
$261B
$10.5M 0.58%
231,816
+9,305
+4% +$402K
PFX icon
60
PhenixFIN
PFX
$83.1M
$10.4M 0.57%
37,509
-900
-2% -$252K
IYF icon
61
iShares US Financials ETF
IYF
$4.58B
$10.2M 0.57%
255,050
-137,858
-35% -$5.31M
HYG icon
62
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
$10.1M 0.56%
109,248
-81,120
-43% -$7.53M
HAL icon
63
Halliburton
HAL
$26.9B
$9.36M 0.52%
184,509
+3,836
+2% +$198K
SLRC icon
64
SLR Investment Corp
SLRC
$686M
$9.34M 0.52%
414,233
– –
XLY icon
65
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$22.9B
$9.26M 0.51%
277,080
+58,896
+27% +$1.87M
TCPC icon
66
BlackRock TCP Capital
TCPC
$273M
$9.23M 0.51%
550,135
+40,782
+8% +$684K
HTGC icon
67
Hercules Capital
HTGC
$3.07B
$8.95M 0.5%
545,945
-60,538
-10% -$977K
NMFC icon
68
New Mountain Finance
NMFC
$651M
$8.91M 0.49%
592,152
+86,587
+17% +$1.26M
XLI icon
69
State Street Industrial Select Sector SPDR ETF
XLI
$33.3B
$8.39M 0.46%
160,635
-7,368
-4% -$362K
XLE icon
70
State Street Energy Select Sector SPDR ETF
XLE
$38.5B
$8.23M 0.46%
186,008
-48,922
-21% -$2.11M
IGIB icon
71
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.5B
$7.74M 0.43%
143,516
+34,820
+32% +$1.89M
SYK icon
72
Stryker
SYK
$125B
$7.6M 0.42%
101,110
+11,608
+13% +$847K
BRO icon
73
Brown & Brown
BRO
$23.6B
$6.23M 0.34%
396,786
+57,676
+17% +$914K
MBB icon
74
iShares MBS ETF
MBB
$38.8B
$6.18M 0.34%
59,132
+7,504
+15% +$792K
BBDC icon
75
Barings BDC
BBDC
$864M
$5.9M 0.33%
213,312
-19,000
-8% -$551K
1 2
3
4 5

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BFS
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EWM
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Confluence Investment Management's Q4 2013 Portfolio in Review

As of Q4 2013, Confluence Investment Management held 272 positions worth $1.81B, up 12% from $1.61B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

Confluence Investment Management deployed $94.1M of net new capital in Q4 2013, opening 18 new positions and adding to 142 existing holdings. Its largest new stake was Northern Trust: 293,257 shares worth $18.1M.

By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 21% a quarter earlier, followed by Industrials and Healthcare.

On the sell side, the largest reduction was State Street SPDR Bloomberg High Yield Bond ETF, an estimated $7.59M trimmed.

  • Confluence Investment Management's largest Q4 2013 buy was Northern Trust: 293,257 shares worth $18.1M.
  • Confluence Investment Management added most to Chevron in Q4 2013, an estimated $12.6M increase.
  • Confluence Investment Management's biggest Q4 2013 reduction was State Street SPDR Bloomberg High Yield Bond ETF, cutting an estimated $7.59M.
  • Confluence Investment Management fully exited RLI Corp in Q4 2013, selling an estimated $21.2M.
  • Confluence Investment Management's ten largest holdings make up 21% of its $1.81B portfolio in Q4 2013.
  • Confluence Investment Management opened 18 new positions and closed 17 in Q4 2013.
  • Confluence Investment Management's portfolio value rose 12% quarter-over-quarter to $1.81B.

Based on Confluence Investment Management's 13F filing for Q4 2013, filed 4 Feb 2014.