CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2016 Filing

Filed November 4, 2016

Portfolio Value

$3.8B

Holdings

223

Report Date

Q3 2016

Filing Type

13F-HR

All Holdings (223 positions)

#	Stock	Shares	Value	% Portfolio
201	EOGEOG Resources	3,599	$348K	0.01%
202	RGLDRoyal Gold, Inc.	4,349	$337K	0.01%
203	FNVFranco-Nevada Corp.	4,724	$330K	0.01%
204	PXDEURPioneer Natural Resources Co.	1,699	$315K	0.01%
205	—Dow Chemical	6,060	$314K	0.01%
206	IJRS&P SmallCap 600 Index Fund -	2,509	$311K	0.01%
207	IVES&P 500 Value Index - iShares	3,204	$304K	0.01%
208	VWOVanguard MSCI Emerging Markets	7,923	$298K	0.01%
209	VMCVulcan Materials Co.	2,308	$262K	0.01%
210	HNRGHallador Energy Company	32,281	$254K	0.01%
211	AAALCOA, INC.	24,905	$253K	0.01%
212	SLVSilver Trust - iShares	13,727	$250K	0.01%
213	PCHPotlatch Corp.	5,972	$232K	0.01%
214	VVisa, Inc. - A	2,798	$231K	0.01%
215	AYS1Sandstorm Gold LTD	45,349	$228K	0.01%
216	WTVWisdomTree LargeCap Value Fund	3,583	$228K	0.01%
217	VEIRXVanguard Equity-Income Admiral	3,294	$219K	0.01%
218	FMCFMC Corp.	4,271	$206K	0.01%
219	—Harvest Capital Credit Corp	16,699	$203K	0.01%
220	FYCFirst Trust Small Cap Growth	5,955	$201K	0.01%
221	KOThe Coca-Cola Company	4,761	$201K	0.01%
222	AGFirst Majestic Silver Corp.	10,342	$107K	0.00%
223	—Velocity Shares 3X Inv Natural	11,299	$69K	0.00%

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