Fund HoldingsCONFLUENCE INVESTMENT MANAGEMENT LLC

Total Portfolio Value
$6.93B
Total Bought
$382.21M
Total Sold
$910.21M
Net Transaction
-$528.00M
Filing Period:
Securities
SharesValue ($K)
Q1 2024
Q2 2024
Change
Q1 2024
Q2 2024
Weight (%)
Change
Hershey Co.(HSY)180,412717,831+537,41935,090131,9591.90%+96,869
iShares 0-3 Month Treasury Bon05,188,573+5,188,5730220,0283.18%+220,028
SPDR Portfolio Developed World
ST STR PO EX ETF
0822,215+822,215028,8430.42%+28,843
A. O. Smith Corp.(AOS)0272,538+272,538022,2880.32%+22,288
Paycom Software Inc.(PAYC)0152,795+152,795021,8560.32%+21,856
Martin Marietta Materials Inc.(MLM)36,29465,254+28,96022,28235,3550.51%+13,072
iShares 1-5 Year Investment Gr103,124353,734+250,6105,28818,1250.26%+12,837
Analog Devices Inc.(ADI)0663,011+663,0110151,3392.18%+151,339
Alphabet Inc.(GOOG)438,038416,824-21,21466,69676,4541.10%+9,758
Baldwin Group(BWIN)0345,789+345,789012,2650.18%+12,265
Oracle Corp.(ORCL)591,938585,932-6,00674,35382,7341.19%+8,380
Dun & Bradstreet Holdings Inc.2,961,7554,078,882+1,117,12729,73637,7700.55%+8,034
Lamb Weston Holdings Inc.(LW)094,400+94,40007,9370.11%+7,937
John Bean Technologies Corp.(JBTM)0112,358+112,358010,6710.15%+10,671
SPDR Portfolio Mortgage Backed
ST STR BACKE ETF
2,581,0842,901,057+319,97356,06162,5760.90%+6,515
Franklin FTSE Japan ETF
FTSE JAPAN ETF
0286,229+286,22908,2320.12%+8,232
Progressive Corp.(PGR)912,107937,114+25,007188,642194,6482.81%+6,006
iShares BB Rated Corporate Bon
BB RAT CORP BD
806,665918,439+111,77437,30842,2670.61%+4,958
TJX Cos. Inc.(TJX)901,448870,796-30,65291,42595,8751.38%+4,450
Air Products and Chemicals Inc091,881+91,881023,7100.34%+23,710
Southern Co.(SO)1,789,9771,705,562-84,415128,413132,3001.91%+3,887
CONMED Corp.(CNMD)050,861+50,86103,5260.05%+3,526
NXP Semiconductors N.V.
COM
226,459221,567-4,89256,11059,6210.86%+3,512
Blue Owl Capital Corp III0233,159+233,15903,4900.05%+3,490
i3 Verticals Inc.0306,540+306,54006,7680.10%+6,768
Colgate-Palmolive Co.(CL)1,450,5531,378,957-71,596130,622133,8141.93%+3,192
S&P Global Inc.(SPGI)0187,449+187,449083,6021.21%+83,602
Kinder Morgan Inc.(KMI)4,777,8984,547,002-230,89687,62790,3491.30%+2,722
Brookfield Asset Management(BAM)089,891+89,89103,4200.05%+3,420
SPDR Portfolio S&P 500 Growth
ST STR P500GRW
126,245143,572+17,3279,23511,5040.17%+2,270
Booking Holdings Inc.(BKNG)012,475+12,475049,4200.71%+49,420
iShares iBonds Dec 2025 Term C0214,998+214,99805,3450.08%+5,345
Oaktree Specialty Lending Corp(OCSL)0120,283+120,28302,2630.03%+2,263
iShares iBonds Dec 2026 Term C
IBONDS DEC2026
0909,541+909,541021,6650.31%+21,665
Kayne Anderson BDC(KBDC)090,000+90,00001,4360.02%+1,436
American Water Works Co. Inc.0146,379+146,379018,9060.27%+18,906
Global X Uranium ETF
GLOBAL X URANIUM
0419,064+419,064012,1320.18%+12,132
Keurig Dr. Pepper Inc.(KDP)0372,515+372,515012,4420.18%+12,442
NIKE Inc.(NKE)0228,972+228,972017,2580.25%+17,258
SPDR Portfolio S&P 500 Value E343,760370,706+26,94617,22218,0680.26%+846
Expeditors International of Wa(EXPD)0192,247+192,247023,9900.35%+23,990
Hercules Capital Inc.(HCXY)0379,548+379,54807,7620.11%+7,762
Toro Co.0229,670+229,670021,4760.31%+21,476
SPDR Gold MiniShares Trust ETF(GLDM)615,603604,725-10,87827,11727,8720.40%+754
Perficient Inc.047,861+47,86103,5800.05%+3,580
BAE Systems plc010,201+10,20106820.01%+682
Shell plc(SHEL)022,603+22,60301,6310.02%+1,631
Ecolab Inc.(ECL)118,739117,757-98227,41728,0260.40%+609
Palmer Square Capital BDC Inc.50,00085,240+35,2408151,3770.02%+563
General Dynamics Corp.(GD)89,27488,756-51825,21925,7520.37%+533
iShares Russell 1000 Value ETF02,994+2,99405220.01%+522
iShares Core S&P US Value ETF05,662+5,66204990.01%+499
Procter & Gamble Co.(PG)142,912143,504+59223,18723,6670.34%+479
Main Street Capital Corp.(MAIN)129,143130,308+1,1656,1106,5790.09%+469
SPDR S&P 500 ETF(SPY)27,97627,671-30514,63315,0590.22%+426
Taiwan Semiconductor Manufactu(TSM)010,700+10,70001,8600.03%+1,860
Amplify Cyber Security ETF49,15254,787+5,6353,1513,5460.05%+395
Core Laboratories N.V.0140,672+140,67202,8540.04%+2,854
SPDR Energy Select Sector ETF
ST STR ENERG ETF
39,02444,153+5,1293,6844,0250.06%+340
iShares US Aerospace & Defense039,451+39,45105,2100.08%+5,210
Hagerty Inc.(HGTY)0362,936+362,93603,7750.05%+3,775
Barings BDC Inc.(BBDC)0509,447+509,44704,9570.07%+4,957
abrdn Physical Silver Shares E100,78296,089-4,6932,4002,6750.04%+275
New Jersey Resources Corp.(NJR)0458,483+458,483019,5960.28%+19,596
iShares iBonds Dec 2025 Term M037,934+37,93401,0050.01%+1,005
iShares iBonds Dec 2027 Term M
IBONDS DEC 27
040,259+40,25901,0070.01%+1,007
HDFC Bank Ltd.(HDB)03,377+3,37702170.00%+217
Novo Nordisk A.S.(NVO)011,264+11,26401,6080.02%+1,608
JPMorgan Chase & Co.(JPM)01,041+1,04102100.00%+210
Costco Wholesale Corp.(COST)0247+24702100.00%+210
Sandoz Group026,301+26,30109520.01%+952
SPDR Nuveen Barclays Capital S
ST NUVE TERM ETF
75,55479,814+4,2603,5843,7660.05%+182
Nuveen Churchill Direct Lendin103,017117,085+14,0681,8602,0370.03%+177
SLR Investment Corp.0185,372+185,37202,9830.04%+2,983
DuPont de Nemours Inc.(DD)0140,013+140,013011,2700.16%+11,270
SPDR Nuveen S&P High Yield Mun
ST NUVE HIGH ETF
265,304273,868+8,5646,8166,9670.10%+152
Capital Southwest Corp.(CSWC)097,212+97,21202,5360.04%+2,536
Crescent Capital BDC Inc.071,623+71,62301,3450.02%+1,345
Agnico Eagle Mines Ltd.(AEM)019,348+19,34801,2650.02%+1,265
iShares iBonds Dec 2024 Term M040,185+40,18501,0470.02%+1,047
ITOCHU Corp.8,3878,552+1657188410.01%+123
AerCap Holdings N.V.(AER)011,726+11,72601,0930.02%+1,093
Cameco Corp.(CCJ)021,259+21,25901,0460.02%+1,046
Alcoa Corp.(AA)011,428+11,42804550.01%+455
Mitsubishi UFJ Financial(MUFG)096,060+96,06001,0370.01%+1,037
Newmont Mining Corp.(NEM)010,855+10,85504540.01%+454
Bain Capital Specialty Finance(BCSF)117,336118,519+1,1831,8401,9330.03%+93
Antero Resources Corp.(AR)018,499+18,49906040.01%+604
MakeMyTrip Ltd.
SHS
06,927+6,92705830.01%+583
DBS Group Holdings Ltd.08,145+8,14508570.01%+857
Rio Tinto plc(RIO)017,095+17,09501,1270.02%+1,127
Wheaton Precious Metals Corp.(WPM)011,574+11,57406070.01%+607
Goldman Sachs BDC Inc.(GSBD)0190,241+190,24102,8590.04%+2,859
Exxon Mobil Corp.05,441+5,44106260.01%+626
Portman Ridge Finance Corp.059,679+59,67901,1710.02%+1,171
FS KKR Capital Corp.(FSK)051,677+51,67701,0200.01%+1,020
Sixth Street Specialty Lending(TSLX)0246,659+246,65905,2660.08%+5,266
Roche Holding A.G.012,922+12,92204480.01%+448
Antofagasta PLC ADR024,189+24,18906570.01%+657
JBS S.A.015,497+15,49701790.00%+179
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