CONFLUENCE INVESTMENT MANAGEMENT LLC Q4 2024 Filing

Filed January 2, 2025

Portfolio Value

$7.2B

Holdings

299

Report Date

Q4 2024

Filing Type

13F-HR

All Holdings (299 positions)

#StockSharesValue% PortfolioType
101
JBTJohn Bean Technologies Corp.
105,676$13.4T186317.15%
102
IBTIiShares iBonds Dec 2028 Term T
610,084$13.4T185369.44%
103
URAGlobal X Uranium ETF
470,405$12.6T174749.27%
104
SPHYSPDR Portfolio High Yield Bond
496,053$11.6T161500.69%
105
LULULululemon Athletica Inc.
29,842$11.4T158303.32%
106
AZEKAzek Co. Inc.
231,087$11.0T152169.83%
107
IBDXiShares iBonds Dec 2032 Term C
411,172$10.1T140196.72%
108
IBDWiShares iBonds Dec 2031 Term C
496,614$10.1T140189.69%
109
IGSBiShares 1-5 Year Investment Gr
194,307$10.0T139351.57%
110
CNMDCONMED Corp.
140,205$9.6T133108.67%
111
IBMSiShares iBonds Dec 2032 Term T
426,060$9.5T131206.73%
112
VVVValvoline Inc.
251,391$9.1T126168.56%
113
DFNMDimensional National Municipal
177,417$8.5T117566.43%
114
PZAPowershares Insured National M
332,758$7.9T108982.64%
115
IBDYiShares iBonds Dec 2033 Term C
311,170$7.8T108343.89%
116
IBMSiShares iBonds Dec 2029 Term T
360,901$7.7T106766.90%
117
HTGCHercules Capital Inc.
382,163$7.7T106502.91%
118
MAINMain Street Capital Corp.
131,043$7.7T106486.87%
119
IBHGiShares iBonds Dec 2030 Term T
399,627$7.7T106396.72%
120
TLHiShares Barclays 10-20 Year Tr
76,906$7.7T106191.21%
121
IIIVi3 Verticals Inc.
292,629$6.7T93526.07%
122
BSMYInvesco BulletShares 2028 Muni
267,630$6.2T86612.87%
123
BXSLBlackstone Secured Lending Fun
192,470$6.2T86264.66%
124
ITA*iShares US Aerospace & Defense
41,178$6.0T83025.53%
125
IBDUiShares iBonds Dec 2029 Term C
254,736$5.8T80567.20%
126
BSMRInvesco BulletShares 2027 Muni
240,509$5.7T78736.51%
127
BSMUInvesco BulletShares 2030 Muni
253,992$5.5T76526.65%
128
BSMYInvesco BulletShares 2031 Muni
256,727$5.4T74537.30%
129
IEIiShares 3-7 Year Treasury Bond
46,315$5.4T74237.69%
130
TSLXSixth Street Specialty Lending
251,182$5.4T74216.73%
131
GBDCGolub Capital BDC Inc.
347,488$5.3T73075.44%
132
IWDiShares Russell 1000 Value ETF
28,375$5.3T72869.46%
133
BSMQInvesco BulletShares 2026 Muni
215,731$5.1T70535.06%
134
QQQInvesco BulletShares 2025 Muni
205,599$5.0T69903.21%
135
FLJPFranklin FTSE Japan ETF
174,192$5.0T69132.06%
136
BBDCBarings BDC Inc.
517,753$5.0T68733.33%
137
NMFCNew Mountain Finance Corp.
429,806$4.8T67134.19%
138
BAMBrookfield Asset Management
85,418$4.6T64209.81%
139
OWLBlue Owl Capital Corp. III
310,424$4.5T62094.54%
140
XLESPDR Energy Select Sector ETF
51,642$4.4T61363.45%
141
HACKAmplify Cyber Security ETF
59,321$4.4T61297.01%
142
CVCOCavco Industries Inc.
9,603$4.3T59442.71%
143
RBCRBC Bearings Inc.
14,235$4.3T59069.71%
144
IBDSiShares iBonds Dec 2027 Term C
165,459$4.0T54993.44%
145
STCStewart Information Services C
55,965$3.8T52395.35%
146
HYMBSPDR Nuveen S&P High Yield Mun
146,177$3.7T51869.55%
147
MLNVanEck Vectors Long Municipal
205,938$3.7T51078.35%
148
SPBSpectrum Brands Holdings Inc.
42,095$3.6T49336.53%
149
ENOVEnovis Corp
79,622$3.5T48465.49%
150
MOVMovado Group Inc.
176,057$3.5T48063.16%
151
TRIPTripAdvisor Inc.
233,858$3.5T47914.35%
152
HYDVanEck High Yield Muni ETF
66,492$3.5T47879.91%
153
BRK-BBerkshire Hathaway Inc. - A
5$3.4T47227.94%
154
HAYWHayward Holdings Inc.
216,520$3.3T45923.85%
155
HGTYHagerty Inc.
337,100$3.3T45125.18%
156
AIFAltus Group Ltd.
81,838$3.2T44160.85%
157
SLRCSLR Investment Corp.
187,478$3.0T42026.62%
158
AOUTAmerican Outdoor Brands Inc.
191,398$2.9T40462.84%
159
EPCEdgewell Personal Care Co.
84,772$2.8T39511.39%
160
SPNSSapiens International Corp. N.
104,749$2.8T39043.66%
161
UFPTUFP Technologies Inc.
11,221$2.7T38059.33%
162
SIVRabrdn Physical Silver Shares E
97,377$2.7T37241.40%
163
JJSFJ & J Snack Foods Corp.
16,544$2.6T35601.05%
164
BSMTInvesco BulletShares 2029 Muni
110,451$2.5T35147.62%
165
HTOSJW Group
49,167$2.4T33569.57%
166
MRTNMarten Transport Ltd.
154,916$2.4T33545.41%
167
WGOWinnebago Industries Inc.
50,542$2.4T33498.64%
168
CLBCore Laboratories N.V.
136,359$2.4T32742.70%
169
GSBDGoldman Sachs BDC Inc.
192,149$2.3T32251.98%
170
SHMSPDR Nuveen Barclays Capital S
48,745$2.3T32044.22%
171
CNNECannae Holdings Inc.
113,684$2.3T31319.24%
172
FSPFranklin Street Properties Cor
1,231,656$2.3T31266.07%
173
CSWCCapital Southwest Corp.
100,242$2.2T30341.49%
174
PNNTPennantPark Investment Corp.
302,560$2.1T29715.13%
175
BCSFBain Capital Specialty Finance
119,920$2.1T29144.63%
176
TSMTaiwan Semiconductor Manufactu
10,340$2.0T28326.87%
177
FFC0Oaktree Specialty Lending Corp
130,410$2.0T27641.83%
178
NCDLNuveen Churchill Direct Lendin
118,602$2.0T27606.85%
179
HCSGHealthcare Services Group Inc.
168,841$2.0T27203.88%
180
IBMOiShares iBonds Dec 2026 Term M
75,478$1.9T26657.02%
181
BXBlackstone Group LP
11,000$1.9T26309.54%
182
JBSSJohn B Sanfilippo & Son Inc.
20,991$1.8T25364.95%
183
KBDCKayne Anderson BDC
109,957$1.8T25228.49%
184
AEMAgnico Eagle Mines Ltd.
20,408$1.6T22140.99%
185
PSBDPalmer Square Capital BDC Inc.
104,546$1.6T22043.68%
186
CCAPCrescent Capital BDC Inc.
73,839$1.4T19686.78%
187
SHELShell plc
22,011$1.4T19129.06%
188
RNMBYRheinmetall AG
10,492$1.3T18418.46%
189
MFICMidCap Financial Investment Co
88,644$1.2T16588.05%
190
CCOCameco Corp.
22,815$1.2T16264.17%
191
FSKFS KKR Capital Corp.
53,055$1.2T15985.38%
192
ACNAccenture plc
3,231$1.1T15767.15%
193
MUBiShares National Muni Bond ETF
10,501$1.1T15520.91%
194
NLYAnnaly Capital Management Inc.
60,648$1.1T15395.73%
195
MUFGMitsubishi UFJ Financial
92,999$1.1T15119.54%
196
CYBRCyberArk Software Ltd.
3,245$1.1T14996.42%
197
AERAerCap Holdings N.V.
11,286$1.1T14982.52%
198
SAPSAP S.E.
4,325$1.1T14771.50%
199
TTNDYTechtronic Industries Co. Ltd.
16,176$1.1T14722.24%
200
DBS Group Holdings Ltd.
8,168$1.0T14507.91%
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