CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2025 Filing

Filed April 1, 2025

Portfolio Value

$6.9B

Holdings

294

Report Date

Q1 2025

Filing Type

13F-HR

All Holdings (294 positions)

#	Stock	Shares	Value	% Portfolio	Type
301	ASAIYSendas Distribuidora S.A.	13,154	$89.2M	1.28%
302	JBSSJohn B Sanfilippo & Son Inc.	1,079	$76.5M	1.10%
303	—Federated Government Obligatio	42,196	$42.2M	0.61%
304	MDYGSPDR S&P 400 Mid Cap Growth ET	443	$35.2M	0.51%
305	XMHQInvesco S&P MidCap Quality ETF	324	$29.6M	0.43%
306	—SPDR Portfolio S&P 500 Value E	433	$22.1M	0.32%
307	SPYGSPDR Portfolio S&P 500 Growth	258	$20.7M	0.30%
308	MDYVSPDR S&P 400 Mid Cap Value ETF	217	$16.7M	0.24%
309	XSHQInvesco S&P Small Cap Quality	363	$14.3M	0.21%
310	SLYGSPDR S&P 600 Small Cap Growth	101	$8.4M	0.12%
311	SPYSPDR S&P 500 ETF	14	$7.8M	0.11%
312	SLYVSPDR S&P 600 Small Cap Value E	70	$5.5M	0.08%

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