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 |
|---|---|---|---|---|---|
| 201 | IBMPiShares iBonds Dec 2027 Term M | 40,553 | $1.0B | 0.01% | |
| 202 | SAFRYSafran S.A. | 14,960 | $990.7M | 0.01% | |
| 203 | MH6ATokio Marine Holdings Inc. | 25,001 | $971.8M | 0.01% | |
| 204 | WPMWheaton Precious Metals Corp. | 12,320 | $956.4M | 0.01% | |
| 205 | NTDOYNintendo Co. Ltd. | 55,237 | $948.4M | 0.01% | |
| 206 | TTNDYTechtronic Industries Co. Ltd. | 15,774 | $947.4M | 0.01% | |
| 207 | ACNAccenture plc | 3,025 | $943.9M | 0.01% | |
| 208 | INGING Groep N.V. | 48,030 | $940.9M | 0.01% | |
| 209 | FNVFranco-Nevada Corp. | 5,874 | $925.5M | 0.01% | |
| 210 | BCICPortman Ridge Finance Corp. | 64,165 | $920.8M | 0.01% | |
| 211 | PNNTPennantPark Investment Corp. | 130,364 | $916.5M | 0.01% | |
| 212 | CCOCameco Corp. | 21,950 | $903.5M | 0.01% | |
| 213 | —BAE Systems plc | 10,986 | $903.4M | 0.01% | |
| 214 | TRINTrinity Capital Inc. | 59,049 | $895.2M | 0.01% | |
| 215 | RWAYRunway Growth Finance Corp | 85,677 | $886.8M | 0.01% | |
| 216 | CHGCYChugai Pharms Co. Ltd. | 38,924 | $885.1M | 0.01% | |
| 217 | BNPQYBNP Paribas S.A. | 20,738 | $866.0M | 0.01% | |
| 218 | IAU*iShares Gold Trust ETF | 14,616 | $861.8M | 0.01% | |
| 219 | ARAntero Resources Corp. | 20,912 | $845.7M | 0.01% | |
| 220 | HLNHaleon plc | 81,673 | $840.4M | 0.01% | |
| 221 | IBMQiShares iBonds Dec 2028 Term M | 32,937 | $833.0M | 0.01% | |
| 222 | EXEExpand Energy Corp. | 7,421 | $826.1M | 0.01% | |
| 223 | TTENTotalEnergies S.E. | 12,679 | $820.2M | 0.01% | |
| 224 | RGLDRoyal Gold Inc. | 4,886 | $798.9M | 0.01% | |
| 225 | ULUnilever plc | 13,329 | $793.7M | 0.01% | |
| 226 | ITOCYITOCHU Corp. | 8,516 | $792.1M | 0.01% | |
| 227 | IWDiShares Russell 1000 Value ETF | 4,155 | $781.8M | 0.01% | |
| 228 | ASMLASML Holding N.V. | 1,178 | $780.6M | 0.01% | |
| 229 | LRLCYL'Oreal S.A. | 10,473 | $778.8M | 0.01% | |
| 230 | SHOPShopify Inc. | 8,126 | $775.5M | 0.01% | |
| 231 | NVONovo Nordisk A.S. | 10,465 | $726.7M | 0.01% | |
| 232 | XOMExxon Mobil Corp. | 6,074 | $722.4M | 0.01% | |
| 233 | BROBrown & Brown Inc. | 5,760 | $716.5M | 0.01% | |
| 234 | SLViShares Silver Trust ETF | 22,658 | $702.2M | 0.01% | |
| 235 | ICLRICON plc | 3,900 | $682.5M | 0.01% | |
| 236 | CNRCore Natural Resources Inc. | 8,844 | $681.9M | 0.01% | |
| 237 | JJSFJ & J Snack Foods Corp. | 5,149 | $678.2M | 0.01% | |
| 238 | CTRACoterra Energy Inc. | 23,309 | $673.6M | 0.01% | |
| 239 | WMMVYWal-Mart de Mexico S.A.B. de C | 23,770 | $654.9M | 0.01% | |
| 240 | FANGDiamondback Energy Inc. | 4,080 | $652.3M | 0.01% | |
| 241 | AXPAmerican Express Co. | 2,400 | $645.7M | 0.01% | |
| 242 | MITSYMitsui & Co. Ltd. | 1,697 | $644.6M | 0.01% | |
| 243 | COPConocoPhillips | 5,995 | $629.6M | 0.01% | |
| 244 | NEMNewmont Mining Corp. | 12,935 | $624.5M | 0.01% | |
| 245 | ABXBarrick Gold Corp. | 31,798 | $618.2M | 0.01% | |
| 246 | RHHBYRoche Holding A.G. | 14,491 | $596.3M | 0.01% | |
| 247 | —Antofagasta plc | 27,781 | $591.7M | 0.01% | |
| 248 | JBSSJohn B Sanfilippo & Son Inc. | 8,052 | $570.6M | 0.01% | |
| 249 | LVMUYLVMH Moet Hennessy Louis Vuitt | 4,581 | $567.4M | 0.01% | |
| 250 | SCCOSouthern Copper Corp. | 5,961 | $557.1M | 0.01% | |
| 251 | FCXFreeport-McMoRan Inc. | 14,630 | $553.9M | 0.01% | |
| 252 | MMYTMakeMyTrip Ltd. | 5,633 | $552.0M | 0.01% | |
| 253 | KMTUYKomatsu Ltd. | 18,522 | $538.2M | 0.01% | |
| 254 | MSDLMorgan Stanley Direct Lending | 26,921 | $537.3M | 0.01% | |
| 255 | SEASeabridge Gold Inc. | 44,811 | $522.9M | 0.01% | |
| 256 | BACBank of America Corp. | 10,591 | $442.0M | 0.01% | |
| 257 | VISTVista Energy S.A.B. de C.V. | 9,168 | $426.9M | 0.01% | |
| 258 | U6ZUranium Energy Corp. | 83,694 | $400.1M | 0.01% | |
| 259 | MLB1MercadoLibre Inc. | 204 | $398.0M | 0.01% | |
| 260 | GFIGold Fields Ltd. | 17,393 | $384.2M | 0.01% | |
| 261 | GLNCYGlencore plc | 51,548 | $376.8M | 0.01% | |
| 262 | CWCurtiss-Wright Corp. | 1,160 | $368.0M | 0.01% | |
| 263 | —ICICI Bank Ltd. | 11,615 | $366.1M | 0.01% | |
| 264 | DMLDenison Mines Corp. | 269,817 | $350.8M | 0.01% | |
| 265 | IAUiShares iBonds Dec 2025 Term M | 11,583 | $309.8M | 0.00% | |
| 266 | IBMRiShares iBonds Dec 2029 Term M | 12,322 | $308.5M | 0.00% | |
| 267 | BSMYInvesco BulletShares 2034 Muni | 12,577 | $302.4M | 0.00% | |
| 268 | UI2Kemper Corp. | 4,470 | $298.8M | 0.00% | |
| 269 | TCEHYTencent Holdings Ltd. | 4,679 | $298.7M | 0.00% | |
| 270 | BABAAlibaba Group Holding Ltd. | 2,237 | $295.8M | 0.00% | |
| 271 | MKLMarkel Group Inc. | 150 | $280.4M | 0.00% | |
| 272 | FMXFomento Economico Mexicano S.A | 2,870 | $280.1M | 0.00% | |
| 273 | KBKB Financial Group Inc. | 5,058 | $273.7M | 0.00% | |
| 274 | KOFCoca-Cola Femsa S.A.B. de C.V. | 2,754 | $251.4M | 0.00% | |
| 275 | BROBrown & Brown Inc. | 1,953 | $243.0M | 0.00% | |
| 276 | YUMCYum China Holdings Inc. | 4,524 | $235.5M | 0.00% | |
| 277 | A4SAmeriprise Financial Inc. | 480 | $232.4M | 0.00% | |
| 278 | GQ9SPDR Gold Shares ETF | 795 | $229.1M | 0.00% | |
| 279 | AVMCAvantis US Mid Cap Equity ETF | 3,652 | $226.4M | 0.00% | |
| 280 | VVisa Inc. | 644 | $225.7M | 0.00% | |
| 281 | PPLTAberdeen Standard Physical Pla | 2,465 | $225.2M | 0.00% | |
| 282 | RDYDr Reddy's Laboratories Ltd. | 16,635 | $219.4M | 0.00% | |
| 283 | COSTCostco Wholesale Corp. | 221 | $209.0M | 0.00% | |
| 284 | HTHTH World Group Ltd. | 5,637 | $208.6M | 0.00% | |
| 285 | JPMJPMorgan Chase & Co. | 849 | $208.3M | 0.00% | |
| 286 | HDBHDFC Bank Ltd. | 3,102 | $206.1M | 0.00% | |
| 287 | YJ3AJBS S.A. | 14,124 | $202.5M | 0.00% | |
| 288 | SHGShinhan Financial Group Co. Lt | 6,265 | $201.0M | 0.00% | |
| 289 | ASXASE Technology Holding Co. Ltd | 19,336 | $169.4M | 0.00% | |
| 290 | SPGIS&P Global Inc. | 291 | $147.6M | 0.00% | |
| 291 | PNGAYPing An Insurance Group Co. of | 12,307 | $147.3M | 0.00% | |
| 292 | ECEcopetrol S.A. | 14,079 | $147.0M | 0.00% | |
| 293 | VLRSControladora Vuela Cia de Avia | 26,540 | $138.5M | 0.00% | |
| 294 | LOWLowe's Co. Inc. | 575 | $134.0M | 0.00% | |
| 295 | ARCOArcos Dorados Holdings Inc. | 16,098 | $129.8M | 0.00% | |
| 296 | VALEVale S.A. | 12,822 | $128.0M | 0.00% | |
| 297 | DNBDun & Bradstreet Holdings Inc. | 13,648 | $122.0M | 0.00% | |
| 298 | PTAIYPT Astra International Tbk | 21,217 | $121.8M | 0.00% | |
| 299 | BWMXBetterware de Mexico S.A.P.I. | 10,600 | $120.5M | 0.00% | |
| 300 | JJSFJ & J Snack Foods Corp. | 678 | $89.3M | 0.00% |