0001442055-11-000002.txt : 20110413 0001442055-11-000002.hdr.sgml : 20110413 20110413141045 ACCESSION NUMBER: 0001442055-11-000002 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110413 DATE AS OF CHANGE: 20110413 EFFECTIVENESS DATE: 20110413 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: 11756770 BUSINESS ADDRESS: STREET 1: 349 MARSHALL AVENUE, SUITE 302 CITY: ST. LOUIS STATE: MO ZIP: 63119 BUSINESS PHONE: 314-743-5090 MAIL ADDRESS: STREET 1: 349 MARSHALL AVENUE, SUITE 302 CITY: ST. LOUIS STATE: MO ZIP: 63119 13F-HR 1 cimformmar11.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 Check here if Amendment [ ]; Amendment Number: ------ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Confluence Investment Management LLC Address: 349 Marshall Avenue, Suite 302 Saint Louis, MO 63119 Form 13F File Number: The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Joseph J. Hanzlik Title: Senior Vice President / CFO Phone: 314-743-5096 Signature, Place, and Date of Signing: /s/ Joseph J. Hanzlik Saint Louis, MO April 13, 2011 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 241 Form 13F Information Table Value Total: $790,149 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File # Name 01 028-06487 First Trust Advisors L.P. FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3 M Company COM 88579Y101 7828 83718 SH Sole 83718 Affiliated Managers Group COM 008252108 1692 15468 SH Defined 01 15468 AFLAC COM 001055102 940 17804 SH Sole 17804 Africa Index ETF - Vanguard Ma COM 57060U787 211 6306 SH Sole 6306 Air Products & Chemicals COM 009158106 1014 11246 SH Sole 11246 Alpha Natural Resources Inc. COM 02076X102 542 9127 SH Sole 9127 Ambassadors Group Inc COM 023177108 2149 196262 SH Defined 01 196262 American Express COM 025816109 7951 175897 SH Sole 175897 Analog Devices COM 032654105 1143 29029 SH Sole 29029 Anglo Platinum Ltd (Adr) COM 035078104 545 31635 SH Sole 31635 Annaly Capital Management Inc. COM 035710409 10256 587717 SH Defined 01 587717 Apollo Investment Corp. COM 03761U106 6816 564917 SH Defined 01 564917 Ares Capital Corp. COM 04010L103 22753 1342587 SH Defined 01 1342587 Australian Dollar Trust - Curr COM 23129U101 217 2094 SH Sole 2094 Auto Data Processing Inc COM 053015103 1097 21388 SH Sole 21388 Avalon Rare Metals COM 053470100 313 38698 SH Sole 38698 Avery Dennison Corp. COM 053611109 3908 93133 SH Sole 93133 B&G Foods, Inc. COM 05508R106 769 40987 SH Sole 40987 Barclays 1-3 Year Credit Bond COM 464288646 2794 26748 SH Sole 26748 Barclays 7-10 Year Treasury Bo COM 464287440 5211 56031 SH Sole 56031 Barclays Cap I/T Cr Bond SPDR COM 78464A375 2106 64406 SH Sole 64406 Barclays Cap Mort Back COM 78464A383 996 36946 SH Sole 36946 Barclays Capital High Yield Bo COM 78464A417 15558 384045 SH Defined 01 384045 Barclays Capital Municipal Bon COM 78464A458 1602 72869 SH Sole 72869 Barclays Intermediate Credit B COM 464288638 2075 19711 SH Sole 19711 Barclays MBS Bond Fund - iShar COM 464288588 3840 36454 SH Sole 36454 Barclays Short Term Municipal COM 78464A425 1590 66706 SH Sole 66706 Becton Dickinson COM 075887109 941 11815 SH Sole 11815 Bed Bath & Beyond Inc COM 075896100 7097 147030 SH Sole 147030 Berkshire Hathaway (Class A) COM 084670108 376 3 SH Defined 01 3 Berkshire Hathaway (Class B) COM 084670702 6786 81148 SH Sole 81148 BHP Billiton Ltd. (Adr 1:2) COM 088606108 592 6173 SH Sole 6173 Bio-Reference Laboratories COM 09057G602 772 34417 SH Defined 01 34417 BlackRock Kelso Capital Corp. COM 092533108 11777 1163706 SH Defined 01 1163706 Broadridge Financial Solutions COM 11133T103 6443 283941 SH Sole 283941 Brown And Brown Inc COM 115236101 1343 52069 SH Sole 52069 Brown Forman Corp. (Class B) COM 115637209 1034 15133 SH Sole 15133 California Pizza Kitchen COM 13054D109 2900 171816 SH Defined 01 171816 Cameco Corp (US Listing) COM 13321L108 433 14417 SH Sole 14417 Cemex SA de CV (Adr 1:10) COM 151290889 385 43104 SH Sole 43104 Cenovus Energy Inc. COM 15135U109 665 16875 SH Sole 16875 CF INDUSTRIES HOLDINGS INC COM 125269100 522 3814 SH Sole 3814 Chevron Corp. COM 166764100 15854 147494 SH Sole 147494 CIMAREX ENERGY CO COM 171798101 531 4611 SH Sole 4611 Cliffs Natural Resources COM 18683K101 583 5936 SH Sole 5936 Clorox COM 189054109 1046 14928 SH Sole 14928 Colgate Palmolive Co COM 194162103 1049 12990 SH Sole 12990 Commerce Bancshares Inc COM 200525103 1131 27962 SH Sole 27962 Compass Diversified Holdings COM 20451Q104 2818 191200 SH Defined 01 191200 Conoco Phillips COM 20825C104 1326 16609 SH Sole 16609 Consumer Discretionary Select COM 81369Y407 7805 199861 SH Sole 199861 Consumer Staples Select Sector COM 81369Y308 5723 191291 SH Sole 191291 Contango Oil & Gas Co COM 21075N204 545 8612 SH Sole 8612 CPI Corp. COM 125902106 5999 266519 SH Defined 01 266519 Cullen / frost Bankers COM 229899109 998 16917 SH Sole 16917 Cypress Sharpridge Investments COM 23281A307 6884 542880 SH Defined 01 542880 Diageo (Adr 1:4) COM 25243Q205 13204 173242 SH Sole 173242 DJ-UBS Commodity Index Total R COM 06738C778 11900 231749 SH Sole 231749 DJ-UBS Copper Subindex Total R COM 06739F101 741 13031 SH Sole 13031 DJ-UBS Lead Subindex Total Ret COM 06739H263 536 7972 SH Sole 7972 DJ-UBS Livestock Subindex Tota COM 06739H743 404 12321 SH Sole 12321 DJ-UBS Platinum Subindex Total COM 06739H255 638 15047 SH Sole 15047 Dow Jones U.S. Aerospace & Def COM 464288760 429 6675 SH Sole 6675 Dow Jones U.S. Utilities Secto COM 464287697 2496 31452 SH Sole 31452 Du Pont (Ei) De Nemours P-A COM 263534109 4576 83239 SH Sole 83239 Eaton Vance Corp. COM 278265103 991 30727 SH Sole 30727 Emerson Electric Co. COM 291011104 11574 198088 SH Sole 198088 EnCana Corp COM 292505104 870 25208 SH Sole 25208 Energy Select Sector SPDR COM 81369Y506 15052 188738 SH Sole 188738 Enerplus Resources Fund (Unit COM 292766102 530 16749 SH Sole 16749 European Goldfield LTD COM 298774100 267 21234 SH Sole 21234 Exeter Resource Corp. COM 301835104 238 44602 SH Sole 44602 Exxon Mobil Corp. COM 30231G102 8543 101550 SH Sole 101550 Fidelity National Financial In COM 31620R105 7614 538882 SH Defined 01 538882 Fifth Street Finance Corp. COM 31678A103 4022 301294 SH Defined 01 301294 Financials Select Sector SPDR COM 81369Y605 11299 689390 SH Sole 689390 First Majestic Silver Corp. COM 32076V103 319 15037 SH Sole 15037 Forward Air Corp. COM 349853101 487 15892 SH Defined 01 15892 Franco Nevada Corp. COM 351858105 568 15517 SH Sole 15517 Franklin Street Properties Cor COM 35471R106 4420 314161 SH Defined 01 314161 Freeport Mcmoran Copper (Class COM 35671D857 560 10084 SH Sole 10084 Full Circle Capital Corp. COM 359671104 336 41955 SH Defined 01 41955 General Dynamics Corp. COM 369550108 1051 13734 SH Sole 13734 General Mills COM 370334104 984 26926 SH Sole 26926 Gladstone Capital Corporation COM 376535100 4764 421186 SH Defined 01 421186 Gladstone Commercial Corp. COM 376536108 601 32962 SH Defined 01 32962 Gladstone Investment Corp. COM 376546107 1423 183333 SH Defined 01 183333 GlaxoSmithKline Plc (Adr 1:2) COM 37733W105 6879 179105 SH Sole 179105 Gold Trust - SPDR COM 78463V107 1052 7520 SH Sole 7520 Goldcorp COM 380956409 571 11456 SH Sole 11456 Golub Capital BDC, Inc. COM 38173M102 6030 382102 SH Defined 01 382102 Graco Inc COM 384109104 7315 160814 SH Sole 160814 Haemonetics Corp. COM 405024100 860 13121 SH Defined 01 13121 Hatteras Financial Corp COM 41902R103 4114 146298 SH Defined 01 146298 Health Care Select Sector SPDR COM 81369Y209 6280 189685 SH Sole 189685 Heartland Express COM 422347104 812 46262 SH Defined 01 46262 Hercules Technology Growth Cap COM 427096508 6102 554747 SH Defined 01 554747 Hibbett Sports Inc. COM 428567101 1018 28432 SH Defined 01 28432 High-Yield Municipal Index ETF COM 57060U878 400 14076 SH Sole 14076 Home Depot Inc. COM 437076102 6586 177708 SH Sole 177708 Horizon Technology COM 44045A102 2272 141352 SH Defined 01 141352 IBM COM 459200101 1169 7169 SH Sole 7169 iBoxx $ High Yield Corporate B COM 464288513 11738 127644 SH Sole 127644 iBoxx $ Investment Grade Corpo COM 464287242 12159 112379 SH Sole 112379 Illinois Tool Works Inc COM 452308109 7110 132352 SH Sole 132352 Impala Platinum Holdings Ltd COM 452553308 525 18115 SH Sole 18115 Imperial Oil Ltd. (US Listing) COM 453038408 535 10470 SH Sole 10470 Industrials Select Sector SPDR COM 81369Y704 9966 264598 SH Sole 264598 Inmet Mining Corp. COM 457983104 499 7126 SH Sole 7126 ISE-Revere Natural Gas Index F COM 33734J102 613 26246 SH Sole 26246 ISE Global Copper Index Fund - COM 33733J103 212 4861 SH Sole 4861 ISE Global Platinum Index Fund COM 33737C104 208 6327 SH Sole 6327 Japanese Yen - CurrencyShares COM 23130a102 361 3037 SH Sole 3037 John Wiley & Sons (Class A) COM 968223206 1346 26475 SH Defined 01 26475 Johnson & Johnson COM 478160104 11891 200694 SH Sole 200694 Kohlberg Capital Corp. COM 500233101 2645 320163 SH Defined 01 320163 Landauer COM 51476K103 5769 93769 SH Sole 93769 Landstar System Inc COM 515098101 2652 58056 SH Defined 01 58056 Linear Technology Corp. COM 535678106 8493 252543 SH Sole 252543 Lockheed Martin Corp. COM 539830109 6467 80440 SH Sole 80440 Lowes Companies COM 548661107 8296 313876 SH Sole 313876 M&T Bank Corp. COM 55261F104 1066 12053 SH Sole 12053 MAG Silver Corp. COM 55903Q104 268 22493 SH Sole 22493 Main Street Capital Corp. COM 56035L104 365 19774 SH Defined 01 19774 Manatuck Hill Mariner Offshore COM 562996983 584 3764 SH Sole 3764 Marathon Oil Corp. COM 565849106 1316 24677 SH Sole 24677 Markel Corp. COM 570535104 8410 20293 SH Defined 01 20293 Martin Marietta Materials COM 573284106 5867 65429 SH Sole 65429 Materials Select Sector SPDR COM 81369Y100 4173 104284 SH Sole 104284 McDonald's Corp COM 580135101 1055 13859 SH Sole 13859 MCG Capital Corp. COM 58047P107 1524 233843 SH Sole 233843 Mcgraw Hill Co Inc COM 580645109 6542 166036 SH Sole 166036 MCMORAN EXPLORATION CO COM 582411104 541 30570 SH Sole 30570 Mdu Resources Group COM 552690109 1038 45207 SH Sole 45207 Medallion Financial Corp COM 583928106 3850 437977 SH Defined 01 437977 Medical Action Industries COM 58449L100 1028 122339 SH Defined 01 122339 Medley Capital Corporation COM 58503F106 1406 115400 SH Defined 01 115400 Mercury General Corp COM 589400100 5872 150059 SH Defined 01 150059 Mesabi Trust COM 590672101 534 12984 SH Sole 12984 Microsoft Corp. COM 594918104 13827 544601 SH Sole 544601 Mohawk Industries COM 608190104 663 10849 SH Sole 10849 Molycorp Inc. COM 608753109 682 11370 SH Sole 11370 Morningstar, Inc. COM 617700109 745 12768 SH Defined 01 12768 Mosaic Co.. COM 61945A107 504 6402 SH Sole 6402 MSCI Emerging Markets Index Fu COM 464287234 7524 154582 SH Sole 154582 MSCI Japan Index Fund - iShare COM 464286848 384 37255 SH Sole 37255 Murphy Oil Corp. COM 626717102 521 7102 SH Sole 7102 MVC Capital Inc COM 553829102 10063 733423 SH Defined 01 733423 New Jersey Resources COM 646025106 978 22766 SH Sole 22766 New Zealand Dollar Fund - Wisd COM 97717W216 208 8936 SH Sole 8936 Newmont Mining Corp COM 651639106 504 9229 SH Sole 9229 NextEra Energy, Inc. COM 65339F101 1066 19331 SH Sole 19331 NGP Capital Ressources Company COM 62912R107 3206 332543 SH Defined 01 332543 Nordstrom Inc COM 655664100 1117 24880 SH Sole 24880 NorthStar Realty Finance Corp. COM 66704R100 2151 402092 SH Defined 01 402092 Northwest Bancshares Inc COM 667340103 845 67400 SH Defined 01 67400 Novartis AG (Adr) COM 66987V109 941 17316 SH Sole 17316 Occidental Petroleum Corporati COM 674599105 1132 10838 SH Sole 10838 Owens & Minor Inc Holding COM 690732102 1033 31790 SH Sole 31790 Panera Bread Company COM 69840W108 451 3549 SH Defined 01 3549 Patriot Coal Corporation COM 70336T104 540 20906 SH Sole 20906 Patterson Companies Inc COM 703395103 1346 41825 SH Defined 01 41825 Paychex COM 704326107 7001 223083 SH Sole 223083 Peabody Energy COM 704549104 1186 16483 SH Sole 16483 PennantPark Investment Corp. COM 708062104 10713 898733 SH Defined 01 898733 People's United Financial, Inc COM 712704105 170 13553 SH Defined 01 13553 Pepsico COM 713448108 12951 201075 SH Sole 201075 Pfizer COM 717081103 12060 593789 SH Sole 593789 Piedmont Natural Gas COM 720186105 1005 33120 SH Sole 33120 Plains Exploration & Productio COM 726505100 543 14987 SH Sole 14987 Platinum Group Metals COM 72765Q205 226 114883 SH Sole 114883 Plum Creek Timber Co COM 729251108 4724 108325 SH Sole 108325 Polaris Industries COM 731068102 1311 15061 SH Sole 15061 Potash Corp. of Saskatchewan I COM 73755L107 536 9091 SH Sole 9091 Praxair COM 74005P104 1083 10661 SH Sole 10661 Procter & Gamble COM 742718109 1102 17897 SH Sole 17897 Prospect Capital Corp COM 74348T102 332 27178 SH Defined 01 27178 Quest Diagnostics Inc COM 74834L100 6151 106562 SH Sole 106562 Rare Earth/Strategic Metals ET COM 57060U472 220 8383 SH Sole 8383 Rare Element Resources Ltd. COM 75381M102 326 24763 SH Sole 24763 Rayonier Inc COM 754907103 4560 73190 SH Defined 01 73190 REIT Index ETF- Vanguard COM 922908553 5900 100899 SH Sole 100899 Ritchie Bros. Auction COM 767744105 1429 50753 SH Defined 01 50753 RLI Corp. COM 749607107 1746 30285 SH Defined 01 30285 Ross Stores COM 778296103 664 9343 SH Sole 9343 Royal Gold COM 780287108 543 10355 SH Sole 10355 Russell 2000 Growth Index Fund COM 464287648 3249 34082 SH Sole 34082 Russell 2000 Value Index Fund COM 464287630 858 11384 SH Sole 11384 S&P 500 Growth Index Fund - iS COM 464287309 1333 19396 SH Sole 19396 S&P 500 Value Index Fund - iSh COM 464287408 910 14381 SH Sole 14381 S&P GSCI Crude Oil Total Retur COM 06738C786 4854 172125 SH Sole 172125 Sanderson Farms, Inc. COM 800013104 896 19513 SH Defined 01 19513 Saratoga Investment Corporatio COM 80349A208 251 11739 SH Defined 01 11739 Scotts Miracle Gro Co COM 810186106 927 16028 SH Defined 01 16028 Seabridge Gold Inc. COM 811916105 491 15442 SH Sole 15442 Sherwin Williams COM 824348106 4202 50030 SH Sole 50030 Sigma Aldrich Corp COM 826552101 8068 126770 SH Defined 01 126770 Silver Trust - iShares COM 46428Q109 650 17681 SH Sole 17681 Silver wheaton Corporation COM 828336107 644 14857 SH Sole 14857 Simpson Manufacturing COM 829073105 817 27732 SH Defined 01 27732 Smith & Nephew (Adr 1:5) COM 83175M205 511 9058 SH Sole 9058 Soc Quimica Y Minera Chile (Ad COM 833635105 521 9433 SH Sole 9433 Solar Capital, LTD. COM 83413U100 8600 360153 SH Defined 01 360153 Source Capital COM 836144105 4931 84945 SH Sole 84945 Southern Co. COM 842587107 7039 184697 SH Sole 184697 Southern Copper Corp. COM 84265V105 459 11394 SH Sole 11394 Southwestern Energy Co. COM 845467109 543 12633 SH Sole 12633 Strayer Education Inc COM 863236105 481 3688 SH Sole 3688 Sysco Corp. COM 871829107 889 32106 SH Sole 32106 Talisman Energy (US Listing) COM 87425E103 552 22342 SH Sole 22342 Target Corp. COM 87612E106 990 19792 SH Sole 19792 Techne Corp. COM 878377100 775 10830 SH Defined 01 10830 Technology Select Sector SPDR COM 81369Y803 12014 460975 SH Sole 460975 Teck Cominco (US Listing) COM 878742204 483 9109 SH Sole 9109 Thermo Fisher Scientific Inc. COM 883556102 8026 144486 SH Sole 144486 THL Credit COM 872438106 4558 333703 SH Defined 01 333703 TICC Capital Corp. COM 87244T109 893 82140 SH Defined 01 82140 TJX Companies Inc COM 872540109 6890 138547 SH Sole 138547 Triangle Capital Corp COM 895848109 3948 218601 SH Defined 01 218601 Tyco International Ltd. COM H89128104 6584 147053 SH Sole 147053 United Technologies COM 913017109 1209 14277 SH Sole 14277 Uranium Energy Corp. COM 916896103 455 113973 SH Sole 113973 Utilities Select Sector SPDR COM 81369Y886 389 12212 SH Sole 12212 Vale SA (Adr) COM 91912E105 488 14643 SH Sole 14643 Vanguard Intermediate - Term C COM 92206C870 2494 31596 SH Sole 31596 Vanguard S/T Corp Bond ETF COM 92206C409 835 10785 SH Sole 10785 VCA Antech, Inc. COM 918194101 2481 98578 SH Defined 01 98578 Vectren COM 92240G101 5956 218962 SH Sole 218962 Vulcan Materials Co. COM 929160109 5563 121998 SH Sole 121998 Wal Mart Stores Inc COM 931142103 6659 127936 SH Sole 127936 WALTER ENERGY, INC. COM 93317Q105 555 4095 SH Sole 4095 Waters Corp. COM 941848103 7547 86848 SH Sole 86848 Wells Fargo Co CS COM 949746101 5001 157714 SH Sole 157714 West Pharmaceutical Serv COM 955306105 795 17747 SH Defined 01 17747 Western Union Co. COM 959802109 5799 279187 SH Sole 279187 White Mountain Insurance COM G9618E107 504 1383 SH Sole 1383 Willis Group Hldg COM G96666105 6541 162055 SH Sole 162055 WR Berkley Corp COM 084423102 9865 306267 SH Defined 01 306267 WW Grainger Inc COM 384802104 1157 8405 SH Sole 8405 Yamana Gold Inc (US Listing) COM 98462Y100 498 40442 SH Sole 40442 Zebra Technologies COM 989207105 511 13032 SH Defined 01 13032