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Institutional Investment Manager
CONFLUENCE INVESTMENT MANAGEMENT LLC
CONFLUENCE INVESTMENT MANAGEMENT LLC (CIK: 0001442056), located at 20 Allen Avenue, Suite 300, St. Louis, MO. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q3)
Portfolio Summary: 223 holdings with a total value of $3,832,357,000.
#
Name
Shares
Value ($)
%
Options
Notes
201 EOG RES INC 3,599 348,000 0.01%
202 ROYAL GOLD INC 4,349 337,000 0.01%
203 FRANCO NEVADA CORP 4,724 330,000 0.01%
204 PIONEER NAT RES CO 1,699 315,000 0.01%
205 DOW CHEM CO 6,060 314,000 0.01%
206 ISHARES TR 2,509 311,000 0.01%
207 ISHARES TR 3,204 304,000 0.01%
208 VANGUARD INTL EQUITY INDEX F 7,923 298,000 0.01%
209 VULCAN MATLS CO 2,308 262,000 0.01%
210 HALLADOR ENERGY COMPANY 32,281 254,000 0.01%
211 Alcoa 24,905 253,000 0.01%
212 ISHARES SILVER TR 13,727 250,000 0.01%
213 POTLATCHDELTIC CORPORATION 5,972 232,000 0.01%
214 VISA INC 2,798 231,000 0.01%
215 SANDSTORM GOLD LTD 45,349 228,000 0.01%
216 WISDOMTREE TR 3,583 228,000 0.01%
217 VANGUARD EQUITY INCOME ADMIRAL FD#565 3,294 219,000 0.01%
218 FMC 4,271 206,000 0.01%
219 Harvest Capital Credit Corp 16,699 203,000 0.01%
220 COCA COLA CO 4,761 201,000 0.01%
221 FIRST TR EXCNGE TRD ALPHADEX 5,955 201,000 0.01%
222 FIRST MAJESTIC SILVER CORP 10,342 107,000 0.00%
223 CREDIT SUISSE NASSAU BRH 11,299 69,000 0.00%
Page 5 of 5

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001442055-16-000018, filed 2016.11.04).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.