CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2025 Filing
Filed April 1, 2025
Portfolio Value
$6.9T
Holdings
294
Report Date
Q1 2025
Filing Type
13F-HR
All Holdings (294 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 101 | SPHYSPDR Portfolio High Yield Bond | 505,720 | $11.8B | 0.17% | |
| 102 | IBMSiShares iBonds Dec 2029 Term T | 534,836 | $11.6B | 0.17% | |
| 103 | URAGlobal X Uranium ETF | 500,947 | $11.5B | 0.17% | |
| 104 | IBTHiShares iBonds Dec 2027 Term T | 470,464 | $10.5B | 0.15% | |
| 105 | SLYGSPDR S&P 600 Small Cap Growth | 126,661 | $10.5B | 0.15% | |
| 106 | SHLDGlobal X Defense Tech ETF | 219,370 | $10.2B | 0.15% | |
| 107 | IBDXiShares iBonds Dec 2032 Term C | 407,434 | $10.2B | 0.15% | |
| 108 | IBDWiShares iBonds Dec 2031 Term C | 490,577 | $10.2B | 0.15% | |
| 109 | IBTIiShares iBonds Dec 2028 Term T | 438,690 | $9.8B | 0.14% | |
| 110 | IBMSiShares iBonds Dec 2032 Term T | 426,353 | $9.8B | 0.14% | |
| 111 | TRIPTripAdvisor Inc. | 641,796 | $9.1B | 0.13% | |
| 112 | ZROZPIMCO 20 Plus Year Zero Coupon | 125,161 | $9.0B | 0.13% | |
| 113 | CNMDCONMED Corp. | 137,318 | $8.3B | 0.12% | |
| 114 | DFNMDimensional National Municipal | 173,223 | $8.2B | 0.12% | |
| 115 | HACKAmplify Cyber Security ETF | 114,491 | $8.2B | 0.12% | |
| 116 | IBDYiShares iBonds Dec 2033 Term C | 308,505 | $7.9B | 0.11% | |
| 117 | IBHGiShares iBonds Dec 2030 Term T | 395,464 | $7.8B | 0.11% | |
| 118 | PZAPowershares Insured National M | 326,206 | $7.5B | 0.11% | |
| 119 | AZEKAzek Co. Inc. | 151,990 | $7.4B | 0.11% | |
| 120 | MAINMain Street Capital Corp. | 130,010 | $7.4B | 0.11% | |
| 121 | HTGCHercules Capital Inc. | 382,629 | $7.4B | 0.11% | |
| 122 | IUSViShares Core S&P US Value ETF | 76,605 | $7.1B | 0.10% | |
| 123 | SLYVSPDR S&P 600 Small Cap Value E | 87,529 | $6.9B | 0.10% | |
| 124 | IIIVi3 Verticals Inc. | 278,147 | $6.9B | 0.10% | |
| 125 | BSMRInvesco BulletShares 2027 Muni | 273,987 | $6.5B | 0.09% | |
| 126 | IBHGiShares iBonds Dec 2031 Term T | 306,939 | $6.2B | 0.09% | |
| 127 | IBDViShares iBonds Dec 2030 Term C | 282,297 | $6.1B | 0.09% | |
| 128 | TSLXSixth Street Specialty Lending | 251,416 | $5.6B | 0.08% | |
| 129 | BSSXInvesco Bulletshares 2033 Muni | 220,577 | $5.6B | 0.08% | |
| 130 | IEIiShares 3-7 Year Treasury Bond | 47,213 | $5.6B | 0.08% | |
| 131 | BSMUInvesco BulletShares 2030 Muni | 248,788 | $5.4B | 0.08% | |
| 132 | BSMTInvesco BulletShares 2029 Muni | 235,377 | $5.4B | 0.08% | |
| 133 | GBDCGolub Capital BDC Inc. | 349,833 | $5.3B | 0.08% | |
| 134 | BBDCBarings BDC Inc. | 519,779 | $5.0B | 0.07% | |
| 135 | NMFCNew Mountain Finance Corp. | 438,682 | $4.8B | 0.07% | |
| 136 | OBDCBlue Owl Capital Corp. | 304,846 | $4.5B | 0.06% | |
| 137 | MLNVanEck Vectors Long Municipal | 251,836 | $4.4B | 0.06% | |
| 138 | CVCOCavco Industries Inc. | 8,359 | $4.3B | 0.06% | |
| 139 | AZNAstraZeneca plc | 374 | $4.3B | 0.06% | |
| 140 | BRK-BBerkshire Hathaway Inc. - A | 5 | $4.0B | 0.06% | |
| 141 | IBDSiShares iBonds Dec 2027 Term C | 163,383 | $4.0B | 0.06% | |
| 142 | FSKFS KKR Capital Corp. | 185,799 | $3.9B | 0.06% | |
| 143 | STCStewart Information Services C | 51,894 | $3.7B | 0.05% | |
| 144 | HYMBSPDR Nuveen S&P High Yield Mun | 145,414 | $3.7B | 0.05% | |
| 145 | HYDVanEck High Yield Muni ETF | 66,241 | $3.4B | 0.05% | |
| 146 | RBCRBC Bearings Inc. | 10,053 | $3.2B | 0.05% | |
| 147 | SLRCSLR Investment Corp. | 187,389 | $3.2B | 0.05% | |
| 148 | BSMWInvesco BulletShares 2032 Munc | 126,794 | $3.1B | 0.04% | |
| 149 | BSMYInvesco BulletShares 2031 Muni | 143,705 | $3.0B | 0.04% | |
| 150 | SPBSpectrum Brands Holdings Inc. | 41,050 | $2.9B | 0.04% | |
| 151 | ENOVEnovis Corp. | 76,529 | $2.9B | 0.04% | |
| 152 | HTOSJW Group | 53,044 | $2.9B | 0.04% | |
| 153 | HGTYHagerty Inc. | 316,369 | $2.9B | 0.04% | |
| 154 | MOVMovado Group Inc. | 170,196 | $2.8B | 0.04% | |
| 155 | SPNSSapiens International Corp. N. | 104,701 | $2.8B | 0.04% | |
| 156 | AIFAltus Group Ltd. | 78,840 | $2.8B | 0.04% | |
| 157 | HAYWHayward Holdings Inc. | 197,361 | $2.7B | 0.04% | |
| 158 | HAEHaemonetics Corp. | 42,722 | $2.7B | 0.04% | |
| 159 | BSMQInvesco BulletShares 2026 Muni | 114,340 | $2.7B | 0.04% | |
| 160 | QQQInvesco BulletShares 2025 Muni | 110,040 | $2.7B | 0.04% | |
| 161 | BSMYInvesco BulletShares 2028 Muni | 115,952 | $2.7B | 0.04% | |
| 162 | KNKnowles Corp. | 169,915 | $2.6B | 0.04% | |
| 163 | EPCEdgewell Personal Care Co. | 81,483 | $2.5B | 0.04% | |
| 164 | TLTiShares 20Plus Year Treasury B | 27,667 | $2.5B | 0.04% | |
| 165 | BXSLBlackstone Secured Lending Fun | 75,154 | $2.4B | 0.04% | |
| 166 | SHMSPDR Nuveen Barclays Capital S | 48,048 | $2.3B | 0.03% | |
| 167 | CSWCCapital Southwest Corp. | 101,522 | $2.3B | 0.03% | |
| 168 | AOUTAmerican Outdoor Brands Inc. | 182,498 | $2.2B | 0.03% | |
| 169 | FSPFranklin Street Properties Cor | 1,231,656 | $2.2B | 0.03% | |
| 170 | AEMAgnico Eagle Mines Ltd. | 20,218 | $2.2B | 0.03% | |
| 171 | UFPTUFP Technologies Inc. | 10,725 | $2.2B | 0.03% | |
| 172 | FFC0Oaktree Specialty Lending Corp | 136,401 | $2.1B | 0.03% | |
| 173 | MRTNMarten Transport Ltd. | 151,834 | $2.1B | 0.03% | |
| 174 | GSBDGoldman Sachs BDC Inc. | 175,783 | $2.0B | 0.03% | |
| 175 | CNNECannae Holdings Inc. | 110,361 | $2.0B | 0.03% | |
| 176 | NCDLNuveen Churchill Direct Lendin | 119,108 | $2.0B | 0.03% | |
| 177 | BCSFBain Capital Specialty Finance | 120,452 | $2.0B | 0.03% | |
| 178 | JJSFJ & J Snack Foods Corp. | 15,074 | $2.0B | 0.03% | |
| 179 | MUBiShares National Muni Bond ETF | 18,415 | $1.9B | 0.03% | |
| 180 | IBMOiShares iBonds Dec 2026 Term M | 75,467 | $1.9B | 0.03% | |
| 181 | KBDCKayne Anderson BDC | 110,635 | $1.8B | 0.03% | |
| 182 | WGOWinnebago Industries Inc. | 50,017 | $1.7B | 0.02% | |
| 183 | SHELShell plc | 22,801 | $1.7B | 0.02% | |
| 184 | TSMTaiwan Semiconductor Manufactu | 9,796 | $1.6B | 0.02% | |
| 185 | JBSSJohn B Sanfilippo & Son Inc. | 22,476 | $1.6B | 0.02% | |
| 186 | BXBlackstone Group LP | 11,000 | $1.5B | 0.02% | |
| 187 | RNMBYRheinmetall AG | 4,964 | $1.4B | 0.02% | |
| 188 | PSBDPalmer Square Capital BDC Inc. | 105,639 | $1.4B | 0.02% | |
| 189 | CCAPCrescent Capital BDC Inc. | 75,052 | $1.3B | 0.02% | |
| 190 | MUFGMitsubishi UFJ Financial | 92,147 | $1.3B | 0.02% | |
| 191 | SAPSAP S.E. | 4,678 | $1.3B | 0.02% | |
| 192 | ZURVYZurich Insurance Group A.G. | 34,878 | $1.2B | 0.02% | |
| 193 | MFICMidCap Financial Investment Co | 89,748 | $1.2B | 0.02% | |
| 194 | AERAerCap Holdings N.V. | 11,146 | $1.1B | 0.02% | |
| 195 | —DBS Group Holdings Ltd. | 8,175 | $1.1B | 0.02% | |
| 196 | WTWWillis Towers Watson plc | 3,323 | $1.1B | 0.02% | |
| 197 | RLIRLI Corp. | 13,946 | $1.1B | 0.02% | |
| 198 | SONYSony Group Corp. | 42,975 | $1.1B | 0.02% | |
| 199 | CYBRCyberArk Software Ltd. | 3,204 | $1.1B | 0.02% | |
| 200 | SDZNYSandoz Group | 25,451 | $1.1B | 0.02% |