WALMART INC

Ticker: WMT CUSIP: 931142103 Class: Common Stock

CONFLUENCE INVESTMENT MANAGEMENT LLC's Holding History (CIK: 0001442056)

Note: Option positions (PUT/CALL) are excluded.

Q3 2013

Shares 41,925 Value ($000) $3,101 Avg Close $19.78 Range $18.93 - $20.59

Q2 2013

Shares 36,771 Value ($000) $2,739 Avg Close $19.98 Range $19.00 - $20.84

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2013	41,925	$3,101	$19.78	$18.93 - $20.59
Q2 2013	36,771	$2,739	$19.98	$19.00 - $20.84