CONFLUENCE INVESTMENT MANAGEMENT LLC Q4 2021 Filing

Filed January 4, 2022

Portfolio Value

$7.5T

Holdings

306

Report Date

Q4 2021

Filing Type

13F-HR

All Holdings (306 positions)

#StockSharesValue% PortfolioType
101
IBDTiShares iBonds Dec 2028 Term C
494,300$14.0B0.19%
102
KDPKeurig Dr Pepper Incorporated
376,281$13.9B0.18%
103
HXGBYHexagon AB
826,789$13.1B0.17%
104
HCSGHealthcare Services Group
725,686$12.9B0.17%
105
DDDupont De Nemurs Incorporated
159,630$12.9B0.17%
106
VNTVontier Corporation
405,628$12.5B0.17%
107
IBTEiShares iBonds Dec 2024 Term T
488,200$12.4B0.16%
108
IBTIiShares iBonds Dec 2028 Term T
459,372$11.6B0.15%
109
IBDSiShares iBonds Dec 2027 Term C
434,689$11.5B0.15%
110
TLTiShares 20Plus Year Treasury B
65,791$9.8B0.13%
111
BSMYInvesco BulletShares 2025 Corp
439,938$9.6B0.13%
112
IBMSiShares iBonds Dec 2029 Term T
370,371$9.3B0.12%
113
AQLTiShares iBonds Dec 2025 Term T
364,997$9.3B0.12%
114
IBDUiShares iBonds Dec 2029 Term C
349,166$9.2B0.12%
115
IBTGiShares iBonds Dec 2026 Term T
363,340$9.2B0.12%
116
FWRDUSDForward Air Corporation
71,607$8.7B0.12%
117
VBTXVeritex Holdings
207,352$8.2B0.11%
118
IBDPiShares iBonds Dec 2024 Term C
312,563$8.1B0.11%
119
JBTJohn Bean Technologies Corpora
52,330$8.0B0.11%
120
iShares iBonds Dec 2022 Term T
316,170$8.0B0.11%
121
MDYGSPDR S&P 400 Mid Cap Growth ET
96,895$7.9B0.10%
122
MOVMovado Group Incorporated
188,425$7.9B0.10%
123
ALNTAllied Motion Technologies Inc
212,334$7.7B0.10%
124
WGOWinnebago Industries Incorpora
102,170$7.7B0.10%
125
SPYSPDR S&P 500 ETF
16,023$7.6B0.10%
126
GOODGladstone Commercial Corporati
291,316$7.5B0.10%
127
MRTNMarten Transport Limited
435,677$7.5B0.10%
128
KAIKadant Incorporated
32,409$7.5B0.10%
129
RBCRBC Bearings Incorporated
36,786$7.4B0.10%
130
HTOSJW Group
101,181$7.4B0.10%
131
EPCEdgewell Personal Care Company
161,667$7.4B0.10%
132
HTGCHercules Technology Growth Cap
412,970$6.9B0.09%
133
IBMQiShares iBonds Dec 2028 Term M
246,489$6.7B0.09%
134
IUSViShares Core S&P US Value ETF
87,821$6.7B0.09%
135
MAINMain Street Capital Corporatio
140,996$6.3B0.08%
136
EWUiShares MSCI United Kingdom ET
186,144$6.2B0.08%
137
FAROFaro Technologies Incorporated
86,836$6.1B0.08%
138
TCP Capital Corporation
420,196$5.7B0.08%
139
BMRCBank of Marin (CA)
151,589$5.6B0.07%
140
AQLTiShares iBonds Dec 2024 Term M
209,740$5.6B0.07%
141
IBMPiShares iBonds Dec 2027 Term M
204,005$5.5B0.07%
142
NMFCNew Mountain Finance Corporati
401,550$5.5B0.07%
143
JJSFJ & J Snack Foods Corporation
34,808$5.5B0.07%
144
NWNNorthwest Natural Holding Comp
112,079$5.5B0.07%
145
CLBCore Laboratories NV
241,239$5.4B0.07%
146
THRThermon Group Holdings Incorpo
312,429$5.3B0.07%
147
IIIVI3 Verticals Incorporated
231,855$5.3B0.07%
148
BBDCBarings BDC Incorporated
461,477$5.1B0.07%
149
GBDCGolub Capital BDC Incorporated
326,343$5.0B0.07%
150
PNNTPennantPark Investment Corpora
720,661$5.0B0.07%
151
TSLXSixth Street Specialty Lending
209,276$4.9B0.06%
152
XLFSPDR Financial Select Sector E
121,888$4.8B0.06%
153
SLRCSolar Capital Limited
257,588$4.7B0.06%
154
AOUTAmerican Outdoor Brands Incorp
237,906$4.7B0.06%
155
IBMOiShares iBonds Dec 2026 Term M
174,386$4.7B0.06%
156
XLBSPDR Materials Select Sector E
51,372$4.7B0.06%
157
SCMStellus Capital Investment
350,420$4.6B0.06%
158
PDBCInvesco Optimum Yield Diversif
322,305$4.5B0.06%
159
XLISPDR Industrial Select Sector
42,348$4.5B0.06%
160
Neenah Paper Incorporated
95,734$4.4B0.06%
161
Natus Medical Incorporated
184,600$4.4B0.06%
162
XHBSPDR S&P Homebuilders ETF
50,555$4.3B0.06%
163
AQLTiShares iBonds Dec 2023 Term T
167,254$4.3B0.06%
164
RVNUxTrackers Municipal Infrastruc
145,368$4.3B0.06%
165
IAUiShares iBonds Dec 2025 Term M
151,865$4.2B0.06%
166
AQLTiShares iBonds Dec 2023 Term M
162,987$4.2B0.06%
167
OFSOFS Capital Corporation
381,358$4.2B0.06%
168
PRFTUSDPerficient Incorporated
31,590$4.1B0.05%
169
BXSLBlackstone Secured Lending Fun
116,293$4.0B0.05%
170
GSBDGoldman Sachs BDC Incorporated
198,149$3.8B0.05%
171
MUBiShares National Muni Bond ETF
27,368$3.2B0.04%
172
TFISPDR Nuveen Bloomberg Barclays
57,313$3.0B0.04%
173
OBDCOwl Rock Capital Corporation
206,697$2.9B0.04%
174
IWDiShares Russell 1000 Value ETF
16,201$2.7B0.04%
175
CSWCCapital Southwest Corporation
107,296$2.7B0.04%
176
IBTHiShares iBonds Dec 2027 Term T
102,635$2.6B0.03%
177
PAHCPhibro Animal Health Corporati
115,480$2.4B0.03%
178
iShares iBonds Dec 2022 Term M
87,116$2.3B0.03%
179
BRK-BBerkshire Hathaway Incorporate
5$2.3B0.03%
180
BSMUInvesco BulletShares 2030 Muni
83,559$2.1B0.03%
181
BSMTInvesco BulletShares 2029 Muni
81,775$2.1B0.03%
182
TSMTaiwan Semiconductor Manufactu
17,651$2.1B0.03%
183
TPVGTriplePoint Venture Growth BDC
109,815$2.0B0.03%
184
BROBrown & Brown Incorporated
27,440$1.9B0.03%
185
SONYSony Group Corporation
14,404$1.8B0.02%
186
ICLRIcon PLC
5,752$1.8B0.02%
187
NVONovo Nordisk A/S ADS
15,641$1.8B0.02%
188
IWNiShares Russell 2000 Value ETF
10,172$1.7B0.02%
189
INFYInfosys Technologies Limited
64,698$1.6B0.02%
190
FNVFranco-Nevada Corporation
11,062$1.5B0.02%
191
LVMUYLVMH Moet Hennessy - Louis Vui
9,042$1.5B0.02%
192
JJSFJ & J Snack Foods Corporation
9,458$1.5B0.02%
193
EMXCiShares MSCI Emerging Markets
23,605$1.4B0.02%
194
EWUSiShares MSCI United Kingdom Sm
30,920$1.4B0.02%
195
IGSBiShares 1-5 Year Investment Gr
24,621$1.3B0.02%
196
NLYEURAnnaly Capital Management Inco
167,597$1.3B0.02%
197
DSDVYDSV Panalpina
11,085$1.3B0.02%
198
American Capital Agency Corpor
86,277$1.3B0.02%
199
BCICPortman Ridge Finance Corporat
52,400$1.3B0.02%
200
RIORio Tinto PLC
19,129$1.3B0.02%
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