Instuitional Investor - Confluence Investment Management Llc

Filing Period:
No. Security Ticker Shares Value % Port
1.
Ishares 0-3 Month Treasury Bon
2,370,040 $238,639,305 3.37%
2. CB 548,325 $158,860,574 2.24%
3. SNA 501,531 $156,066,459 2.21%
4. PAYX 1,044,626 $151,951,340 2.15%
5. NTRS 1,184,610 $150,196,703 2.12%