CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2020 Filing

Filed October 19, 2020

Portfolio Value

$6.2B

Holdings

293

Report Date

Q3 2020

Filing Type

13F-HR

All Holdings (293 positions)

#StockSharesValue% PortfolioType
201
SPTISpdr Portfolio Intermediate Te
34,655$1.2B18.73%
202
NTDOYNintendo Co. Ltd. ADS
16,199$1.1B18.62%
203
SAPSAP AG - ADS
7,315$1.1B18.54%
204
BKCCUSDBlackRock Kelso Capital Corp.
460,712$1.1B18.28%
205
BROBrown & Brown Inc.
24,440$1.1B17.98%
206
WMMVYWalmart De-Mexico-Spon ADR V
45,777$1.1B17.84%
207
APTVAPTIV PLC
11,279$1.0B16.81%
208
NATHNathan's Famous Inc
18,385$942.0M15.32%
209
CSWCCapital Southwest Corp.
65,518$920.0M14.96%
210
ESLTElbit Systems Ltd
7,629$918.0M14.93%
211
IAUiShares iBonds Dec 2023 Term C
33,539$880.0M14.31%
212
RHHBYRoche Holding AG
19,686$844.0M13.72%
213
IUSViShares Core US Values - ETF
15,546$844.0M13.72%
214
PFLTPennantPark Floating Rate Capi
95,138$803.0M13.06%
215
CCAPCrescent Capital BDC, Inc.
61,240$781.0M12.70%
216
FANUYFanuc Ltd. ADS
40,929$780.0M12.68%
217
DBS GROUP HOLDINGS-SPON ADR
13,318$777.0M12.63%
218
PAGSPagseguro Digital Ltd
20,163$760.0M12.36%
219
MINTPimco Enhanced Short Maturity
7,291$743.0M12.08%
220
FSC1EUROaktree Specialty Lending Corp
153,070$741.0M12.05%
221
JJSFJ & J Snack Foods Corp
5,507$718.0M11.67%
222
PRUPrudential Financial Inc
11,253$715.0M11.63%
223
NBISYandex NV
9,686$632.0M10.28%
224
WXXWYWuxi Biologics Cayman Inc
12,817$624.0M10.15%
225
UOVEYUnited Overseas Bank Limited
21,807$608.0M9.89%
226
MLCOMelco Resorts & Entertainment
35,921$598.0M9.72%
227
KMTUYKOMATSU LTD
26,622$583.0M9.48%
228
VUSXXVanguard Treasury Money Market
520,957$521.0M8.47%
229
JAZZJazz Pharmaceuticals Plc
3,587$511.0M8.31%
230
VVisa, Inc. - A
2,534$507.0M8.24%
231
GBILGoldman Sachs Treasury Access
4,986$501.0M8.15%
232
IAUiShares iBonds Dec 2022 Term C
19,321$495.0M8.05%
233
HTHTHuazhu Group Ltd.
11,098$480.0M7.80%
234
ICMBInvestcorp Credit Management B
130,340$473.0M7.69%
235
NVDANVIDIA Corp.
870$471.0M7.66%
236
AAPLApple Inc.
3,948$457.0M7.43%
237
KCAPUSDPortman Ridge Finance Corp
340,472$456.0M7.41%
238
iShares iBonds Dec 2021 Term C
17,414$436.0M7.09%
239
MLB1MERCADOLIBRE INC
401$434.0M7.06%
240
RDS/ARoyal Dutch Shell PLC - Cl A
17,175$432.0M7.02%
241
GOOGLAlphabet Inc. - Class A
290$425.0M6.91%
242
Medley Capital Corp.
23,335$416.0M6.76%
243
Solar Senior Capital Ltd.
32,843$414.0M6.73%
244
PYPLPayPal Holdings, Inc.
2,097$413.0M6.72%
245
EQXEquinox Gold
33,717$395.0M6.42%
246
FSPFranklin Street Properties Cor
102,500$375.0M6.10%
247
RDYDR. REDDY'S LABORATORIES LTD.
5,391$375.0M6.10%
248
Manatuck Hill Mariner Offshore
2,177$374.0M6.08%
249
GFIGold Fields Ltd
30,409$374.0M6.08%
250
MFICApollo Investment Corp.
44,780$370.0M6.02%
251
SHMSPDR Nuveen Barclays Capital S
7,157$357.0M5.80%
252
LLYEli Lilly & Co.
2,400$355.0M5.77%
253
VIPSVipshop Holdings Ltd
22,012$344.0M5.59%
254
NATHNathan's Famous Inc
6,709$344.0M5.59%
255
YUMCYum China Holdings Inc
6,336$336.0M5.46%
256
GDSGDS Holdings Ltd
4,095$335.0M5.45%
257
HDBHDFC Bank Ltd
6,688$334.0M5.43%
258
AMZNAmazon.com, Inc.
104$327.0M5.32%
259
XNGSYENN Energy Holdings Ltd
7,310$318.0M5.17%
260
LZRFYLocaliza Rent a Car SA
30,516$308.0M5.01%
261
ABXBarrick Gold ORD Shrs
10,763$303.0M4.93%
262
COSTCostco Wholesale Corporation
850$302.0M4.91%
263
WNSNWNS Holdings Ltd
4,705$301.0M4.89%
264
UI2Kemper Corp.
4,470$299.0M4.86%
265
TMETencent Music Entertainment Gr
19,742$292.0M4.75%
266
PAASPan American Silver Corp
8,913$287.0M4.67%
267
SEASeabridge Gold Inc.
15,248$286.0M4.65%
268
ZNHUSDChina Southern Airlines Co Ltd
10,421$283.0M4.60%
269
JPMJP Morgan Chase & Company
2,897$279.0M4.54%
270
PNGAYPing An Insurance Group Co of
12,808$263.0M4.28%
271
FCXFreeport-McMoRan Copper & Gold
16,504$258.0M4.20%
272
RGLDRoyal Gold, Inc.
2,097$252.0M4.10%
273
AYS1Sandstorm Gold Ltd.
29,731$251.0M4.08%
274
BIDUNBaidu Inc. ADS
1,952$247.0M4.02%
275
KBKB Financial Group Inc
7,640$245.0M3.98%
276
GQ9Gold Shares - SPDR
1,365$242.0M3.93%
277
AXPAmerican Express Company
2,400$241.0M3.92%
278
FLOTiShares Floating Rate Note Fun
4,755$241.0M3.92%
279
BACBank of America Corp.
9,956$240.0M3.90%
280
MMC Norilsk Nickel
9,816$237.0M3.85%
281
TTENTotal SA - ADR
6,861$235.0M3.82%
282
SNPUSDChina Petroleum & Chemical Co
5,687$230.0M3.74%
283
SIL1EURSilverCrest Metals Inc
26,911$228.0M3.71%
284
TSLATesla Motors Inc
525$225.0M3.66%
285
CEOCNOOC Ltd.
2,308$222.0M3.61%
286
TXGTorex Gold Res Inc
15,386$218.0M3.54%
287
CTRACabot Oil & Gas Corp.
12,395$215.0M3.50%
288
HYMBSPDR Nuveen S&P High Yield
3,782$215.0M3.50%
289
GBOOYGrupo Financiero ADR
11,765$204.0M3.32%
290
HONHoneywell International, Inc.
1,218$200.0M3.25%
291
C1B2Cia Brasileira de Distribuicao
15,732$194.0M3.15%
292
ECEcopetrol SA
18,846$185.0M3.01%
293
OREUROsisko Gold Royalties Ltd
15,415$182.0M2.96%
294
CCOCameco Corp.
16,599$168.0M2.73%
295
Antofagasta plc ADR
12,046$158.0M2.57%
296
ICICI Bank Ltd. ADS
13,460$132.0M2.15%
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