CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2022 Filing

Filed October 3, 2022

Portfolio Value

$6.0T

Holdings

298

Report Date

Q3 2022

Filing Type

13F-HR

All Holdings (298 positions)

#StockSharesValue% PortfolioType
201
WCNWaste Connections Inc.
6,649$898.0M0.01%
202
ITMVanEck Vectors AMT-Free Interm
20,376$887.0M0.01%
203
NVONovo Nordisk A.S.
8,771$874.0M0.01%
204
LVMUYLVMH Moet Hennessy Louis Vuitt
7,290$857.0M0.01%
205
ICLRICON plc
4,535$833.0M0.01%
206
AEMAgnico Eagle Mines Ltd.
19,195$811.0M0.01%
207
SHELShell plc
16,173$805.0M0.01%
208
DBS Group Holdings Ltd.
8,619$798.0M0.01%
209
CTVACorteva Inc.
13,328$762.0M0.01%
210
LRLCYL'Oreal S.A.
11,934$761.0M0.01%
211
ZURVYZurich Insurance Group A.G.
18,600$740.0M0.01%
212
CCAPCrescent Capital BDC Inc.
49,010$737.0M0.01%
213
WTWWillis Towers Watson plc
3,600$723.0M0.01%
214
NLYAnnaly Capital Management Inc.
41,898$719.0M0.01%
215
IWDiShares Russell 1000 Value ETF
4,673$635.0M0.01%
216
WOPWoodside Energy Group Ltd.
29,590$597.0M0.01%
217
SONYSony Group Corp.
9,155$586.0M0.01%
218
EXEChesapeake Energy Corp.
6,211$585.0M0.01%
219
DSDVYDSV A.S.
9,898$576.0M0.01%
220
CCOCameco Corp.
21,691$575.0M0.01%
221
LZAGYLonza Group
11,447$557.0M0.01%
222
XOMExxon Mobil Corp.
6,328$552.0M0.01%
223
TTENTotalEnergies S.E.
11,842$551.0M0.01%
224
UOVEYUnited Overseas Bank Ltd.
14,996$544.0M0.01%
225
CLRUSDContinental Resources Inc.
7,990$534.0M0.01%
226
FSC1EUROaktree Specialty Lending Corp
88,907$533.0M0.01%
227
COPConocoPhillips
5,072$519.0M0.01%
228
NTDOYNintendo Co. Ltd.
10,141$517.0M0.01%
229
MOSMosaic Co.
10,674$516.0M0.01%
230
CNHCNH Industrial N.V.
46,099$515.0M0.01%
231
PKXPOSCO Holdings Inc.
13,810$506.0M0.01%
232
PFXPhenixFIN Corp.
14,551$501.0M0.01%
233
RHHBYRoche Holding A.G.
12,321$500.0M0.01%
234
GLNCYGlencore plc
46,280$485.0M0.01%
235
ZROZPIMCO 20 Plus Year Zero Coupon
5,000$466.0M0.01%
236
CTRACoterra Energy Inc.
17,860$466.0M0.01%
237
BNPQYBNP Paribas S.A.
21,910$463.0M0.01%
238
SMCAYSMC Corp.
22,768$460.0M0.01%
239
EOGEOG Resources Inc.
4,075$455.0M0.01%
240
APTVAptiv plc
5,809$454.0M0.01%
241
PXDEURPioneer Natural Resources Co.
2,067$448.0M0.01%
242
INGING Groep N.V.
50,806$432.0M0.01%
243
U-USprott Physical Uranium Trust
35,783$420.0M0.01%
244
FANGDiamondback Energy Inc.
3,466$418.0M0.01%
245
ALBAlbemarle Corp.
1,574$416.0M0.01%
246
NTRNutrien Ltd
4,851$404.0M0.01%
247
CFCF Industries Holdings Inc.
4,083$393.0M0.01%
248
Manatuck Hill Mariner Offshore
2,013$386.0M0.01%
249
SAPSAP S.E.
4,727$384.0M0.01%
250
MTRNMaterion Corp.
4,711$377.0M0.01%
251
RGLDRoyal Gold Inc.
4,008$376.0M0.01%
252
EQTEQT Corp.
9,174$374.0M0.01%
253
SQMSociedad Quimica y Minera de C
4,091$371.0M0.01%
254
CAECAE Inc.
23,869$366.0M0.01%
255
KMTUYKomatsu Ltd.
18,524$337.0M0.01%
256
ABXBarrick Gold Corp.
21,642$335.0M0.01%
257
FQVLFFirst Quantum Minerals Ltd.
19,467$330.0M0.01%
258
GBOOYGrupo Financiero Banorte S.A.B
10,155$326.0M0.01%
259
IVNIvanhoe Mines Ltd.
50,573$325.0M0.01%
260
AXPAmerican Express Co.
2,400$324.0M0.01%
261
MMYTMakeMyTrip Ltd.
10,416$320.0M0.01%
262
GSMFerroglobe plc
60,412$319.0M0.01%
263
COSTCostco Wholesale Corp.
674$318.0M0.01%
264
SCCOSouthern Copper Corp.
7,066$317.0M0.01%
265
FCXFreeport-McMoRan Inc.
10,939$299.0M0.00%
266
ICICI Bank Ltd.
14,179$297.0M0.00%
267
EMBCEmbecta Corp.
10,330$297.0M0.00%
268
HDBHDFC Bank Ltd.
5,041$294.0M0.00%
269
GOOGLAlphabet Inc.
3,060$293.0M0.00%
270
HTHTHuazhu Group Ltd.
8,553$287.0M0.00%
271
WNSNWNS Holdings Ltd.
3,506$287.0M0.00%
272
LZRFYLocaliza Rent a Car S.A.
25,393$286.0M0.00%
273
XNGSYENN Energy Holdings Ltd.
5,330$284.0M0.00%
274
AAAlcoa Corp.
8,397$283.0M0.00%
275
DMLDenison Mines Corp.
236,509$281.0M0.00%
276
LYSDYLynas Rare Earths Ltd.
58,053$280.0M0.00%
277
ZTOZTO Express Cayman Inc.
11,418$274.0M0.00%
278
U6ZUranium Energy Corp.
77,498$271.0M0.00%
279
VVisa Inc.
1,430$254.0M0.00%
280
ZNHUSDChina Southern Airlines Co Ltd
9,541$254.0M0.00%
281
MLB1MercadoLibre Inc.
304$252.0M0.00%
282
WXXWYWuxi Biologics Cayman Inc.
20,331$243.0M0.00%
283
FLOTiShares Floating Rate Bond ETF
4,755$239.0M0.00%
284
MINTPIMCO Enhanced Short Maturity
2,375$235.0M0.00%
285
SHOPShopify Inc.
8,725$235.0M0.00%
286
YUMCYum China Holdings Inc.
4,847$229.0M0.00%
287
IWNiShares Russell 2000 Value ETF
1,728$223.0M0.00%
288
RDYDr Reddy's Laboratories Ltd.
4,232$222.0M0.00%
289
FMXFomento Economico Mexicano S.A
3,487$219.0M0.00%
290
VALEVale S.A.
16,197$216.0M0.00%
291
GQ9SPDR Gold Shares ETF
1,365$211.0M0.00%
292
TCEHYTencent Holdings Ltd.
6,157$208.0M0.00%
293
ASAIYSendas Distribuidora S.A.
12,566$203.0M0.00%
294
VISTVista Energy S.A.B. de C.V.
21,146$199.0M0.00%
295
GFIGold Fields Ltd.
23,121$187.0M0.00%
296
ECEcopetrol S.A.
16,061$143.0M0.00%
297
YJ3AJBS S.A.
14,353$135.0M0.00%
298
PNGAYPing An Insurance Group Co. of
11,015$109.0M0.00%
299
C1B2Cia Brasileira de Distribuicao
30,604$108.0M0.00%
300
CFRUYCie Financiere Richemont S.A.
11,007$103.0M0.00%
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