CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2021 Filing

Filed April 5, 2021

Portfolio Value

$7.1T

Holdings

300

Report Date

Q1 2021

Filing Type

13F-HR

All Holdings (300 positions)

#StockSharesValue% PortfolioType
101
VNTVontier Corporation
508,702$15.4B0.22%
102
MLNVanEck Vectors Long Municipal
719,693$15.4B0.22%
103
SPYGSPDR Portfolio S&P 500 Growth
248,332$14.0B0.20%
104
IBDTiShares iBonds Dec 2028 Term C
472,848$13.4B0.19%
105
SLYGSPDR S&P 600 Small Cap Growth
148,121$12.7B0.18%
106
DDDupont De Nemurs Incorporated
163,481$12.6B0.18%
107
IBTIiShares iBonds Dec 2028 Term T
463,880$11.6B0.16%
108
GTESGates Industrial
708,094$11.3B0.16%
109
Invesco BulletShares 2024 Corp
508,990$11.3B0.16%
110
IBDSiShares iBonds Dec 2027 Term C
416,705$11.1B0.16%
111
KAIKadant Incorporated
55,082$10.2B0.14%
112
AQLTiShares iBonds Dec 2025 Term T
367,971$9.4B0.13%
113
IBTGiShares iBonds Dec 2026 Term T
363,585$9.3B0.13%
114
MOVMovado Group Incorporated
324,067$9.2B0.13%
115
IBMSiShares iBonds Dec 2029 Term T
368,900$9.1B0.13%
116
IBTEiShares iBonds Dec 2024 Term T
345,049$8.9B0.12%
117
IBDUiShares iBonds Dec 2029 Term C
333,831$8.7B0.12%
118
VNQVanguard Real Estate Index ETF
93,145$8.6B0.12%
119
TLTiShares 20 Year Treasury Bond
61,471$8.3B0.12%
120
MDYVSPDR S&P 400 Mid Cap Value ETF
124,333$8.1B0.11%
121
IEMGiShares Core MSCI Emerging Mar
124,000$8.0B0.11%
122
WGOWinnebago Industries Incorpora
102,525$7.9B0.11%
123
RBCRBC Bearings Incorporated
39,215$7.7B0.11%
124
JBTJohn Bean Technologies Corpora
57,737$7.7B0.11%
125
FAROFaro Technologies Incorporated
84,447$7.3B0.10%
126
ALNTAllied Motion Technologies Inc
141,671$7.3B0.10%
127
IIIVI3 Verticals Incorporated
228,932$7.1B0.10%
128
VBTXVeritex Holdings
217,721$7.1B0.10%
129
EPCEdgewell Personal Care Company
170,845$6.8B0.09%
130
PDBCInvesco Optimum Yield Diversif
391,051$6.7B0.09%
131
iShares iBonds Dec 2022 Term T
258,482$6.6B0.09%
132
HTGCHercules Technology Growth Cap
407,888$6.5B0.09%
133
FWRDUSDForward Air Corporation
71,571$6.4B0.09%
134
James River Group Holdings Lim
138,573$6.3B0.09%
135
HTOSJW Group
97,825$6.2B0.09%
136
GOODGladstone Commercial Corporati
304,468$6.0B0.08%
137
IBMQiShares iBonds Dec 2028 Term M
216,701$5.9B0.08%
138
THRThermon Group Holdings Incorpo
296,273$5.8B0.08%
139
NMFCNew Mountain Finance Corporati
461,551$5.7B0.08%
140
TCP Capital Corporation
410,752$5.7B0.08%
141
NWNNorthwest Natural Holding Comp
104,737$5.7B0.08%
142
BMRCBank of Marin (CA)
142,741$5.6B0.08%
143
MAINMain Street Capital Corporatio
140,019$5.5B0.08%
144
SPYSPDR S&P 500
13,324$5.3B0.07%
145
IBMPiShares iBonds Dec 2027 Term M
188,812$5.1B0.07%
146
PAHCPhibro Animal Health Corporati
208,196$5.1B0.07%
147
RCOResources Global Professionals
371,130$5.0B0.07%
148
MDYGSPDR S&P 400 Mid Cap Growth ET
66,324$5.0B0.07%
149
JJSFJ & J Snack Foods Corporation
30,256$4.8B0.07%
150
GBDCGolub Capital BDC Incorporated
316,553$4.6B0.06%
151
Neenah Paper Incorporated
89,865$4.6B0.06%
152
AQLTiShares iBonds Dec 2024 Term M
169,437$4.6B0.06%
153
SLRCSolar Capital Limited
255,093$4.5B0.06%
154
Natus Medical Incorporated
175,277$4.5B0.06%
155
BBDCBarings BDC Incorporated
447,319$4.5B0.06%
156
SCMStellus Capital Investment
347,026$4.4B0.06%
157
PRFTUSDPerficient Incorporated
74,167$4.4B0.06%
158
TSLXSixth Street Specialty Lending
201,842$4.2B0.06%
159
XLFSPDR Financial Select Sector E
122,815$4.2B0.06%
160
IBMOiShares iBonds Dec 2026 Term M
153,172$4.1B0.06%
161
PNNTPennantPark Investment Corpora
717,827$4.1B0.06%
162
AQLTiShares iBonds Dec 2023 Term T
157,473$4.0B0.06%
163
XLISPDR Industrial Select Sector
40,869$4.0B0.06%
164
XLBSPDR Materials Select Sector E
49,614$3.9B0.05%
165
AQLTiShares iBonds Dec 2023 Term M
148,286$3.9B0.05%
166
IAUiShares iBonds Dec 2025 Term M
138,647$3.9B0.05%
167
RVNUxTrackers Municipal Infrastruc
133,383$3.9B0.05%
168
GSBDGoldman Sachs BDC Incorporated
189,008$3.7B0.05%
169
OFSOFS Capital Corporation
387,920$3.4B0.05%
170
XHBSPDR S&P Homebuilders ETF
45,491$3.2B0.04%
171
OBDCOwl Rock Capital Corporation
205,369$2.8B0.04%
172
MUBiShares National Muni Bond ETF
23,540$2.7B0.04%
173
TFISPDR Nuveen Bloomberg Barclays
52,858$2.7B0.04%
174
IGSBiShares 1-5 Year Investment Gr
44,747$2.4B0.03%
175
CSWCCapital Southwest Corporation
106,044$2.3B0.03%
176
TSMTaiwan Semiconductor Manufactu
19,223$2.3B0.03%
177
iShares iBonds Dec 2022 Term M
85,131$2.2B0.03%
178
BSMTInvesco BulletShares 2029 Muni
77,083$2.0B0.03%
179
BSMUInvesco BulletShares 2030 Muni
78,913$2.0B0.03%
180
BRK-BBerkshire Hathaway Incorporate
5$1.9B0.03%
181
SONYSony Corporation ADS
15,679$1.7B0.02%
182
TPVGTriplePoint Venture Growth BDC
108,876$1.6B0.02%
183
BABAAlibaba Group Holding Limited
6,630$1.5B0.02%
184
TCEHYTencent Holdings Limited
18,824$1.5B0.02%
185
JJSFJ & J Snack Foods Corporation
9,458$1.5B0.02%
186
DSDVYDSV Panalpina
14,346$1.4B0.02%
187
FNVFranco-Nevada Corporation
11,032$1.4B0.02%
188
LVMUYLVMH Moet Hennessy Louis Vuitt
9,658$1.3B0.02%
189
NATHNathan's Famous Incorporated
20,114$1.3B0.02%
190
RIORio Tinto PLC
16,153$1.3B0.02%
191
BROBrown & Brown Incorporated
27,440$1.3B0.02%
192
SHOPShopify Incorporated
1,128$1.2B0.02%
193
AAGIYAIA Group Limited
24,912$1.2B0.02%
194
INFYInfosys Technologies Limited A
65,247$1.2B0.02%
195
ICLRIcon PLC
6,190$1.2B0.02%
196
ZTOZTO Express Cayman Incorporate
40,923$1.2B0.02%
197
NVONovo Nordisk A/S ADS
16,334$1.1B0.02%
198
CYBRCyberark Software Limited
8,514$1.1B0.02%
199
LRLCYL'Oreal SA
13,584$1.0B0.01%
200
PRUPrudential Financial Incorpora
11,207$1.0B0.01%
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