CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2025 Filing
Filed October 14, 2025
Portfolio Value
$7.0B
Holdings
294
Report Date
Q3 2025
Filing Type
13F-HR
All Holdings (294 positions)
| Stock | Value |
|---|---|
SHOPShopify Inc. | $1.2M |
NEMNewmont Mining Corp. | $1.2M |
MH6ATokio Marine Holdings Inc. | $1.2M |
—Antofagasta plc | $1.1M |
SLRCSLR Investment Corp. | $1.1M |
MSDLMorgan Stanley Direct Lending | $1.1M |
FNVFranco-Nevada Corp. | $1.1M |
FQVLFFirst Quantum Minerals Ltd. | $1.1M |
ITOCYITOCHU Corp. | $1.1M |
NCDLNuveen Churchill Direct Lendin | $1.1M |
BNPQYBNP Paribas S.A. | $1.1M |
AGIAlamos Gold Inc. | $1.0M |
SLViShares Silver Trust ETF | $1.0M |
CCAPCrescent Capital BDC Inc. | $1.0M |
NGLOYAmglo Am PLC ADR | $1.0M |
SCCOSouthern Copper Corp. | $1.0M |
LRLCYL'Oreal S.A. | $1.0M |
RGLDRoyal Gold Inc. | $992K |
U6ZUranium Energy Corp. | $988K |
WPMWheaton Precious Metals Corp. | $968K |
CHGCYChugai Pharms Co. Ltd. | $959K |
MITSYMitsui & Co. Ltd. | $948K |
IBMPiShares iBonds Dec 2027 Term M | $925K |
VMCVulcan Materials Co. | $914K |
ULUnilever plc | $899K |
GLNCYGlencore plc | $894K |
TTENTotalEnergies S.E. | $848K |
EXEExpand Energy Corp. | $844K |
HLNHaleon plc | $840K |
ICLRICON plc | $821K |
AXPAmerican Express Co. | $797K |
DMLDenison Mines Corp. | $795K |
XOMExxon Mobil Corp. | $793K |
WMMVYWal-Mart de Mexico S.A.B. de C | $767K |
KMTUYKomatsu Ltd. | $757K |
ARAntero Resources Corp. | $752K |
TRINTrinity Capital Inc. | $739K |
RHHBYRoche Holding A.G. | $733K |
LVMUYLVMH Moet Hennessy Louis Vuitt | $701K |
NXENexGen Energy Ltd | $694K |
FCXFreeport-McMoRan Inc. | $672K |
KBDCKayne Anderson BDC | $664K |
NVONovo Nordisk A.S. | $656K |
CTRACoterra Energy Inc. | $654K |
GFIGold Fields Ltd. | $645K |
LUGLundin Gold Inc. | $641K |
CCOCameco Corp. | $641K |
CWCurtiss-Wright Corp. | $630K |
LYSDYLynas Rare Earths Ltd. | $433K |
—Ramaco Resources Inc | $406K |
JJSFJ & J Snack Foods Corp. | $385K |
KBKB Financial Group Inc. | $379K |
BABAAlibaba Group Holding Ltd. | $361K |
TCEHYTencent Holdings Ltd. | $353K |
MMYTMakeMyTrip Ltd. | $343K |
JBSSJohn B Sanfilippo & Son Inc. | $330K |
—ICICI Bank Ltd. | $320K |
PSBDPalmer Square Capital BDC Inc. | $316K |
IAUiShares iBonds Dec 2025 Term M | $310K |
BCICBCP Investment Corp. | $306K |
MPMP Materials Corp. | $299K |
MLB1MercadoLibre Inc. | $290K |
SHGShinhan Financial Group Co. Lt | $286K |
VISTVista Energy S.A.B. de C.V. | $285K |
EADSYAirbus SE | $283K |
GQ9SPDR Gold Shares ETF | $283K |
KOFCoca-Cola Femsa S.A.B. de C.V. | $282K |
NBISNebius Group N.V. | $269K |
FMXFomento Economico Mexicano S.A | $260K |
GBOOYGrupo Financiero Banorte S.A.B | $239K |
JBSJBS N.V. | $238K |
A4SAmeriprise Financial Inc. | $236K |
HDBHDFC Bank Ltd. | $236K |
ASXASE Technology Holding Co. Ltd | $235K |
YUMCYum China Holdings Inc. | $233K |
ZTOZTO Express Cayman Inc. | $233K |
HTHTH World Group Ltd. | $232K |
UI2Kemper Corp. | $230K |
INFYInfosys Ltd. | $230K |
BAPCredicorp Ltd. | $230K |
BIDUNBaidu Inc. | $229K |
CPACopa Holdings SA | $223K |
JPMJPMorgan Chase & Co. | $216K |
NVDANVIDIA Corp. | $213K |
RDYDr Reddy's Laboratories Ltd. | $206K |
COSTCostco Wholesale Corp. | $205K |
VVisa Inc. | $200K |
RWAYRunway Growth Finance Corp. | $185K |
PNNTPennantPark Investment Corp. | $184K |
VLRSControladora Vuela Cia de Avia | $177K |
MSIFMSC Income Fund | $159K |
LOWLowe's Co. Inc. | $151K |
SPGIS&P Global Inc. | $144K |
PTAIYPT Astra International Tbk | $132K |
VALEVale S.A. | $120K |
ECEcopetrol S.A. | $114K |
ARCOArcos Dorados Holdings Inc. | $95K |
ASAIYSendas Distribuidora S.A. | $93K |
BROBrown & Brown Inc. | $71K |
JBSSJohn B Sanfilippo & Son Inc. | $70K |