CONFLUENCE INVESTMENT MANAGEMENT LLC Q4 2025 Filing
Filed January 5, 2026
Portfolio Value
$6.7B
Holdings
296
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (296 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 201 | FNVFranco-Nevada Corp. | 5,694 | $1.2M | 0.02% | |
| 202 | FSPFranklin Street Properties Cor | 1,231,656 | $1.2M | 0.02% | |
| 203 | BNPQYBNP Paribas S.A. | 24,545 | $1.2M | 0.02% | |
| 204 | NTDOYNintendo Co. Ltd. | 67,829 | $1.1M | 0.02% | |
| 205 | BABAAlibaba Group Holding Ltd. | 7,742 | $1.1M | 0.02% | |
| 206 | FCXFreeport-McMoRan Inc. | 22,157 | $1.1M | 0.02% | |
| 207 | TTNDYTechtronic Industries Co. Ltd. | 19,520 | $1.1M | 0.02% | |
| 208 | CNNECannae Holdings Inc. | 70,250 | $1.1M | 0.02% | |
| 209 | ENOVEnovis Corp. | 41,116 | $1.1M | 0.02% | |
| 210 | HKXCYHong Kong Exchanges and Cleari | 20,911 | $1.1M | 0.02% | |
| 211 | EQTEQT Corp. | 20,116 | $1.1M | 0.02% | |
| 212 | EXEExpand Energy Corp. | 9,714 | $1.1M | 0.02% | |
| 213 | SLRCSLR Investment Corp. | 69,338 | $1.1M | 0.02% | |
| 214 | XOMExxon Mobil Corp. | 8,884 | $1.1M | 0.02% | |
| 215 | MH6ATokio Marine Holdings Inc. | 28,897 | $1.1M | 0.02% | |
| 216 | RNMBYRheinmetall AG | 2,883 | $1.1M | 0.02% | |
| 217 | LRLCYL'Oreal S.A. | 12,241 | $1.0M | 0.02% | |
| 218 | VMCVulcan Materials Co. | 3,627 | $1.0M | 0.02% | |
| 219 | HLNHaleon plc | 99,380 | $1.0M | 0.02% | |
| 220 | ESABESAB Corp. | 8,932 | $996K | 0.01% | |
| 221 | CCAPCrescent Capital BDC Inc. | 70,620 | $992K | 0.01% | |
| 222 | ARAntero Resources Corp. | 28,627 | $986K | 0.01% | |
| 223 | TTETotalEnergies S.E. | 15,067 | $985K | 0.01% | |
| 224 | MRTNMarten Transport Ltd. | 86,457 | $983K | 0.01% | |
| 225 | NCDLNuveen Churchill Direct Lendin | 72,889 | $971K | 0.01% | |
| 226 | RHHBYRoche Holding A.G. | 18,649 | $961K | 0.01% | |
| 227 | CTRACoterra Energy Inc. | 36,515 | $961K | 0.01% | |
| 228 | ULUnilever plc | 14,293 | $934K | 0.01% | |
| 229 | LUGLundin Gold Inc. | 11,202 | $930K | 0.01% | |
| 230 | LVMUYLVMH Moet Hennessy Louis Vuitt | 6,120 | $922K | 0.01% | |
| 231 | JBSSJohn B Sanfilippo & Son Inc. | 13,041 | $920K | 0.01% | |
| 232 | ICLRICON plc | 5,022 | $915K | 0.01% | |
| 233 | U6ZUranium Energy Corp. | 78,197 | $913K | 0.01% | |
| 234 | SESea Ltd. | 7,119 | $908K | 0.01% | |
| 235 | AXPAmerican Express Co. | 2,400 | $887K | 0.01% | |
| 236 | DMLDenison Mines Corp. | 321,204 | $854K | 0.01% | |
| 237 | PBDCPutnam BDC Income ETF | 27,635 | $845K | 0.01% | |
| 238 | NXENexGen Energy Ltd | 90,138 | $829K | 0.01% | |
| 239 | CCOCameco Corp. | 8,909 | $815K | 0.01% | |
| 240 | IBMPiShares iBonds Dec 2027 Term M | 31,764 | $806K | 0.01% | |
| 241 | WMMVYWal-Mart de Mexico S.A.B. de C | 25,564 | $796K | 0.01% | |
| 242 | JJSFJ & J Snack Foods Corp. | 8,301 | $750K | 0.01% | |
| 243 | KMTUYKomatsu Ltd. | 23,544 | $747K | 0.01% | |
| 244 | SBSWSibanye Stillwater Ltd. | 49,766 | $709K | 0.01% | |
| 245 | GSBDGoldman Sachs BDC Inc. | 75,821 | $703K | 0.01% | |
| 246 | GFIGold Fields Ltd. | 15,364 | $670K | 0.01% | |
| 247 | KBDCKayne Anderson BDC | 46,410 | $664K | 0.01% | |
| 248 | NVONovo Nordisk A.S. | 13,043 | $663K | 0.01% | |
| 249 | TRINTrinity Capital Inc. | 44,780 | $655K | 0.01% | |
| 250 | CWCurtiss-Wright Corp. | 1,160 | $639K | 0.01% | |
| 251 | VISTVista Energy S.A.B. de C.V. | 8,271 | $402K | 0.01% | |
| 252 | KBKB Financial Group Inc. | 4,567 | $392K | 0.01% | |
| 253 | LYSDYLynas Rare Earths Ltd. | 43,577 | $360K | 0.01% | |
| 254 | ASXASE Technology Holding Co. Ltd | 21,200 | $341K | 0.01% | |
| 255 | MSIFMSC Income Fund | 25,157 | $330K | 0.00% | |
| 256 | IBMOiShares iBonds Dec 2026 Term M | 12,881 | $330K | 0.00% | |
| 257 | KOFCoca-Cola Femsa S.A.B. de C.V. | 3,395 | $321K | 0.00% | |
| 258 | TCEHYTencent Holdings Ltd. | 4,148 | $317K | 0.00% | |
| 259 | —ICICI Bank Ltd. | 10,601 | $315K | 0.00% | |
| 260 | EADSYAirbus SE | 5,425 | $314K | 0.00% | |
| 261 | GQ9SPDR Gold Shares ETF | 776 | $307K | 0.00% | |
| 262 | SHGShinhan Financial Group Co. Lt | 5,671 | $304K | 0.00% | |
| 263 | MMYTMakeMyTrip Ltd. | 3,665 | $300K | 0.00% | |
| 264 | WTWWillis Towers Watson plc | 911 | $299K | 0.00% | |
| 265 | PSBDPalmer Square Capital BDC Inc. | 23,401 | $285K | 0.00% | |
| 266 | BCICBCP Investment Corp. | 24,018 | $284K | 0.00% | |
| 267 | AQLTiShares Core MSCI EAFE ETF | 3,164 | $283K | 0.00% | |
| 268 | HTHTH World Group Ltd. | 5,944 | $279K | 0.00% | |
| 269 | MPMP Materials Corp. | 5,437 | $274K | 0.00% | |
| 270 | AVLCAvantis US Large Cap Equity ET | 3,458 | $271K | 0.00% | |
| 271 | JJSFJ & J Snack Foods Corp. | 3,009 | $271K | 0.00% | |
| 272 | FMXFomento Economico Mexicano S.A | 2,636 | $266K | 0.00% | |
| 273 | YUMCYum China Holdings Inc. | 5,440 | $259K | 0.00% | |
| 274 | —Ramaco Resources Inc | 14,332 | $257K | 0.00% | |
| 275 | ZTOZTO Express Cayman Inc. | 12,150 | $253K | 0.00% | |
| 276 | HDBHDFC Bank Ltd. | 6,899 | $252K | 0.00% | |
| 277 | INFYInfosys Ltd. | 14,139 | $251K | 0.00% | |
| 278 | MLB1MercadoLibre Inc. | 124 | $249K | 0.00% | |
| 279 | BAPCredicorp Ltd. | 862 | $247K | 0.00% | |
| 280 | A4SAmeriprise Financial Inc. | 480 | $235K | 0.00% | |
| 281 | JBSJBS N.V. | 15,930 | $229K | 0.00% | |
| 282 | BIDUNBaidu Inc. | 1,740 | $227K | 0.00% | |
| 283 | CPACopa Holdings SA | 1,880 | $226K | 0.00% | |
| 284 | GBOOYGrupo Financiero Banorte S.A.B | 4,767 | $221K | 0.00% | |
| 285 | JPMJPMorgan Chase & Co. | 685 | $220K | 0.00% | |
| 286 | NVDANVIDIA Corp. | 1,139 | $212K | 0.00% | |
| 287 | VLRSControladora Vuela Cia de Avia | 23,638 | $209K | 0.00% | |
| 288 | TLTiShares 20Plus Year Treasury B | 2,399 | $209K | 0.00% | |
| 289 | RDYDr Reddy's Laboratories Ltd. | 14,760 | $207K | 0.00% | |
| 290 | —Infineon Technologies A.G. | 4,621 | $203K | 0.00% | |
| 291 | VVisa Inc. | 573 | $200K | 0.00% | |
| 292 | NBISNebius Group N.V. | 2,393 | $200K | 0.00% | |
| 293 | SPGIS&P Global Inc. | 354 | $184K | 0.00% | |
| 294 | LOWLowe's Co. Inc. | 739 | $178K | 0.00% | |
| 295 | PNNTPennantPark Investment Corp. | 27,848 | $165K | 0.00% | |
| 296 | PTAIYPT Astra International Tbk | 18,723 | $151K | 0.00% | |
| 297 | RWAYRunway Growth Finance Corp. | 16,420 | $146K | 0.00% | |
| 298 | JBSSJohn B Sanfilippo & Son Inc. | 1,985 | $140K | 0.00% | |
| 299 | ECEcopetrol S.A. | 10,828 | $108K | 0.00% | |
| 300 | BROBrown & Brown Inc. | 1,300 | $103K | 0.00% |