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Confluence Investment Management LLC

Q3 2025 Holdings

Filed 2025-10-14 | 456 holdings | $7.0B | 13F-HR | View on SEC ↗ · Holdings Table ↗

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IssuerClassCUSIPValue ↑Shares% Portfolio
Coterra Energy Inc.(CTRA)COM127097103$654.1K27,6580.0%
Novo Nordisk A.S.(NVO)COM670100205$656.1K11,8240.0%
Kayne Anderson BDC(KBDC)COM48662X105$664.1K49,8550.0%
Freeport-McMoRan Inc.(FCX)COM35671D857$671.8K17,1290.0%
NexGen Energy Ltd(NXE)COM65340P106$694.1K77,5500.0%
Lvmh Moet Hennessy Louis Vuitt(LVMUY)COM502441306$701.2K5,7330.0%
Roche Holding A.G.(RHHBY)COM771195104$732.8K17,5260.0%
Trinity Capital Inc.(TRIN)COM896442308$738.9K47,7300.0%
Antero Resources Corp.(AR)COM03674X106$752.1K22,4100.0%
Komatsu Ltd.(KMTUY)COM500458401$757.0K21,9050.0%
Wal-Mart de Mexico S.A.B. de C(WMMVY)COM93114W107$767.0K24,8690.0%
Exxon Mobil Corp.(XOM)COM30231G102$793.3K7,0360.0%
Denison Mines Corp.(DNN)COM248356107$794.8K289,0280.0%
American Express Co.(AXP)COM025816109$797.2K2,4000.0%
Icon plc(ICLR)COMG4705A100$820.6K4,6890.0%
Haleon plc(HLN)COM405552100$839.9K93,6310.0%
Expand Energy Corp.(EXE)COM165167735$844.1K7,9450.0%
TotalEnergies S.E.(TTEN)COM89151E109$847.7K14,2010.0%
Glencore plc(GLNCY)COM37827X100$894.3K97,2070.0%
Unilever plcCOM904767704$899.2K15,1690.0%
Vulcan Materials Co.(VMC)COM929160109$913.6K2,9700.0%
iShares iBonds Dec 2027 Term M(IBMP)COM46435U283$925.2K36,3180.0%
Mitsui & Co. Ltd.(MITSY)COM606827202$947.8K1,9090.0%
Chugai Pharms Co. Ltd.(CHGCY)COM171269103$959.3K43,3880.0%
Wheaton Precious Metals Corp.(WPM)COM962879102$968.2K8,6570.0%
Uranium Energy Corp.(UEC)COM916896103$987.8K74,0480.0%
Royal Gold Inc.(RGLD)COM780287108$991.9K4,9450.0%
L'Oreal S.A.(LRLCY)COM502117203$1.0M11,5800.0%
Southern Copper Corp.(SCCO)COM84265V105$1.0M8,2870.0%
Amglo Am PLC ADR(NGLOY)COM03485P409$1.0M53,3010.0%
Crescent Capital BDC Inc.(CCAP)COM225655109$1.0M71,4550.0%
iShares Silver Trust ETF(SLV)COM46428Q109$1.0M24,6730.0%
Alamos Gold Inc.(AGI)COM011532108$1.0M29,9910.0%
BNP Paribas S.A.(BNPQY)COM05565A202$1.1M23,2890.0%
Nuveen Churchill Direct Lendin(NCDL)COM67090S108$1.1M77,8190.0%
Itochu Corp.(ITOCY)COM465717106$1.1M9,3810.0%
First Quantum Minerals Ltd.(FQVLF)COM335934105$1.1M47,8920.0%
Franco-Nevada Corp.(FNV)COM351858105$1.1M4,9640.0%
Morgan Stanley Direct Lending(MSDL)COM61774A103$1.1M70,8480.0%
SLR Investment Corp.(SLRC)COM83413U100$1.1M74,9850.0%
Antofagasta plc(ANTO)COMG0398N128$1.1M30,6840.0%
Tokio Marine Holdings Inc.(MH6A)COM889094108$1.2M27,4050.0%
Newmont Mining Corp.(NEM)COM651639106$1.2M13,7030.0%
Shopify Inc.(SHOP)COM82509L107$1.2M7,9180.0%
American Outdoor Brands Inc.(AOUT)COM02875D109$1.2M136,9970.0%
Willis Towers Watson plc(WTW)COMG96629103$1.2M3,4920.0%
Hong Kong Exchanges and Cleari(HKXCY)COM43858F109$1.2M21,6360.0%
Techtronic Industries Co. Ltd.(TTNDY)COM87873R101$1.2M19,3920.0%
Asml Holding N.V.(ASML)COMN07059210$1.2M1,2870.0%
Sea Ltd.(SE)COM81141R100$1.3M7,0070.0%
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