13F HOLDINGS REPORT
CONFLUENCE INVESTMENT MANAGEMENT LLC
Quarter ended Q4 2025 · Filed January 5, 2026 · Accession 0001442056-26-000002
Total Value
$6.67B
Positions
458
Other Managers
2
Confidential Omitted
No
Holdings (458)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | iShares 0-3 Month Treasury Bon | 46436E718 | 2,085,234 | $209.3M | 3.14% |
| 2 | Snap-on Inc. | SNA | 467,697 | $161.2M | 2.41% |
| 3 | Chubb Ltd. | CB | 509,139 | $158.9M | 2.38% |
| 4 | Analog Devices Inc. | ADI | 583,917 | $158.4M | 2.37% |
| 5 | Northern Trust Corp. | NTRSO | 1,099,530 | $150.2M | 2.25% |
| 6 | WEC Energy Group Inc. | WEC | 1,322,730 | $139.5M | 2.09% |
| 7 | Lockheed Martin Corp. | LMT | 284,235 | $137.5M | 2.06% |
| 8 | Progressive Corp. | 743315103 | 595,654 | $135.6M | 2.03% |
| 9 | Southern Co. | SOMN | 1,480,469 | $129.1M | 1.93% |
| 10 | Hershey Co. | HSY | 694,999 | $126.5M | 1.90% |
| 11 | Linde plc | LIN | 296,274 | $126.3M | 1.89% |
| 12 | Cisco Systems Inc. | CSCO | 1,611,483 | $124.1M | 1.86% |
| 13 | Fastenal Co. | FAST | 3,082,500 | $123.7M | 1.85% |
| 14 | Broadridge Financial Solutions | 11133T103 | 553,907 | $123.6M | 1.85% |
| 15 | Chevron Corp. | CVX | 798,822 | $121.7M | 1.82% |
| 16 | Entergy Corp. | ENO | 1,282,435 | $118.5M | 1.78% |
| 17 | iShares Russell 1000 Value ETF | 464287598 | 562,840 | $118.4M | 1.77% |
| 18 | Home Depot Inc. | HD | 330,623 | $113.8M | 1.70% |
| 19 | Gilead Sciences Inc. | GILD | 906,378 | $111.2M | 1.67% |
| 20 | Fidelity National Financial In | FNF | 2,032,439 | $111.0M | 1.66% |
| 21 | Paychex Inc. | PAYX | 983,872 | $110.4M | 1.65% |
| 22 | American Water Works Co. Inc. | 030420103 | 790,063 | $103.1M | 1.54% |
| 23 | Colgate-Palmolive Co. | CL | 1,282,775 | $101.4M | 1.52% |
| 24 | Honeywell International Inc. | 438516106 | 515,327 | $100.5M | 1.51% |
| 25 | Kinder Morgan Inc. | EP-PC | 3,622,319 | $99.6M | 1.49% |
| 26 | U.S. Bancorp | USB-PS | 1,839,404 | $98.2M | 1.47% |
| 27 | T. Rowe Price Group Inc. | TROW | 941,445 | $96.4M | 1.44% |
| 28 | SPDR Portfolio Mortgage Backed | 78464A383 | 4,259,697 | $95.5M | 1.43% |
| 29 | Diageo plc | DGEAF | 1,095,472 | $94.5M | 1.42% |
| 30 | Mondelez International Inc. | 609207105 | 1,738,398 | $93.6M | 1.40% |
| 31 | Accenture plc | ACN | 330,834 | $88.8M | 1.33% |
| 32 | TJX Co. Inc. | 872540109 | 576,584 | $88.6M | 1.33% |
| 33 | Mastercard Inc. | MA | 155,039 | $88.5M | 1.33% |
| 34 | W. R. Berkley Corp. | WRB-PH | 1,178,772 | $82.7M | 1.24% |
| 35 | Nordson Corp. | NDSN | 327,835 | $78.8M | 1.18% |
| 36 | Clorox Co. | CLX | 774,996 | $78.1M | 1.17% |
| 37 | Stryker Corp. | SYK | 218,778 | $76.9M | 1.15% |
| 38 | Microsoft Corp. | MSFT | 154,116 | $74.5M | 1.12% |
| 39 | S&P Global Inc. | SPGI | 139,805 | $73.1M | 1.09% |
| 40 | SPDR Portfolio Developed World | 78463X889 | 1,636,109 | $72.7M | 1.09% |
| 41 | Keysight Technologies Inc. | KEYS | 332,720 | $67.6M | 1.01% |
| 42 | Ares Capital Corp. | ARCC | 3,338,341 | $67.5M | 1.01% |
| 43 | Alphabet Inc. | GOOG | 181,906 | $57.1M | 0.86% |
| 44 | Thermo Fisher Scientific Inc. | TMO | 94,736 | $54.9M | 0.82% |
| 45 | Masco Corp. | MAS | 861,797 | $54.7M | 0.82% |
| 46 | SPDR Portfolio S&P 500 Growth | 78464A409 | 512,335 | $54.7M | 0.82% |
| 47 | Lowe's Co. Inc. | 548661107 | 222,975 | $53.8M | 0.81% |
| 48 | Illinois Tool Works Inc. | 452308109 | 215,680 | $53.1M | 0.80% |
| 49 | Graco Inc. | GGG | 620,908 | $50.9M | 0.76% |
| 50 | Paycom Software Inc. | PAYC | 317,885 | $50.7M | 0.76% |
| 51 | NXP Semiconductors N.V. | NXPI | 227,451 | $49.4M | 0.74% |
| 52 | Berkshire Hathaway Inc. - B | BRK-A | 97,339 | $48.9M | 0.73% |
| 53 | Air Products and Chemicals Inc | AIIR | 190,178 | $47.0M | 0.70% |
| 54 | Dow Inc. | DOW | 1,587,062 | $37.1M | 0.56% |
| 55 | Martin Marietta Materials Inc. | 573284106 | 59,546 | $37.1M | 0.56% |
| 56 | Arch Capital Group Ltd. | G0450A105 | 359,044 | $34.4M | 0.52% |
| 57 | SPDR Portfolio S&P 500 Value E | 78464a508 | 603,305 | $34.3M | 0.51% |
| 58 | Booking Holdings Inc. | BKNG | 6,361 | $34.1M | 0.51% |
| 59 | Brown & Brown Inc. | BRO | 412,019 | $32.8M | 0.49% |
| 60 | iShares MBS ETF | 464288588 | 344,690 | $32.8M | 0.49% |
| 61 | SPDR Gold MiniShares Trust ETF | GLDW | 380,474 | $32.5M | 0.49% |
| 62 | Brown-Forman Corp. - B | BF-B | 1,190,613 | $31.0M | 0.46% |
| 63 | Dollar Tree Inc. | DLTR | 233,996 | $28.8M | 0.43% |
| 64 | Starbucks Corp. | SBUX | 321,225 | $27.1M | 0.41% |
| 65 | Amphenol Corp. | 032095101 | 199,281 | $26.9M | 0.40% |
| 66 | Donaldson Co. Inc. | DCI | 291,382 | $25.8M | 0.39% |
| 67 | Ecolab Inc. | ECL | 98,296 | $25.8M | 0.39% |
| 68 | General Dynamics Corp. | GD | 76,437 | $25.7M | 0.39% |
| 69 | ResMed Inc. | RSMDF | 106,396 | $25.6M | 0.38% |
| 70 | Expeditors International of Wa | 302130109 | 171,675 | $25.6M | 0.38% |
| 71 | iShares Barclays 10-20 Year Tr | 464288653 | 242,506 | $24.7M | 0.37% |
| 72 | Sherwin-Williams Co. | SHW | 70,312 | $22.8M | 0.34% |
| 73 | McDonald's Corp. | MCD | 73,788 | $22.6M | 0.34% |
| 74 | iShares iBonds Dec 2035 Term T | 46438G422 | 834,372 | $21.3M | 0.32% |
| 75 | Charles River Laboratories Int | 159864107 | 104,432 | $20.8M | 0.31% |
| 76 | Medtronic plc | MDT | 215,117 | $20.7M | 0.31% |
| 77 | iShares BB Rated Corporate Bon | 46435U473 | 433,506 | $20.4M | 0.31% |
| 78 | New Jersey Resources Corp. | NJR | 438,685 | $20.2M | 0.30% |
| 79 | A. O. Smith Corp. | AOS | 294,451 | $19.7M | 0.30% |
| 80 | McCormick & Company Inc. | MKC-V | 281,411 | $19.2M | 0.29% |
| 81 | Toro Co. | TORO | 241,309 | $19.0M | 0.28% |
| 82 | iShares iBonds Dec 2034 Term T | 46438G646 | 716,175 | $18.5M | 0.28% |
| 83 | Procter & Gamble Co. | 742718109 | 128,307 | $18.4M | 0.28% |
| 84 | EOG Resources Inc. | EOG | 163,772 | $17.2M | 0.26% |
| 85 | NIKE Inc. | NKE | 266,081 | $17.0M | 0.25% |
| 86 | Zoetis Inc. | ZTS | 124,555 | $15.7M | 0.23% |
| 87 | iShares iBonds Dec 2033 Term T | 46436E148 | 637,249 | $15.6M | 0.23% |
| 88 | iShares Core MSCI Europe ETF | 46434V738 | 219,963 | $15.6M | 0.23% |
| 89 | Vontier Corp. | VNT | 404,106 | $15.0M | 0.23% |
| 90 | iShares 3-7 Year Treasury Bond | 464288661 | 125,607 | $15.0M | 0.22% |
| 91 | Constellation Brands | STZ | 108,632 | $15.0M | 0.22% |
| 92 | Morningstar Inc. | MORN | 68,768 | $14.9M | 0.22% |
| 93 | Becton Dickinson & Co. | BDX | 74,940 | $14.5M | 0.22% |
| 94 | Walt Disney Co. | 254687106 | 124,478 | $14.2M | 0.21% |
| 95 | Baldwin Insurance Group Inc. | BWIN | 562,429 | $13.5M | 0.20% |
| 96 | SPDR S&P 400 Mid Cap Growth ET | 78464A821 | 130,880 | $12.1M | 0.18% |
| 97 | Avantis International Small Ca | 025072802 | 124,332 | $11.7M | 0.18% |
| 98 | ProShares S&P MidCap 400 Divid | 74347B680 | 136,230 | $11.5M | 0.17% |
| 99 | Valvoline Inc. | VVV | 388,007 | $11.3M | 0.17% |
| 100 | Carrier Global Corp. | CARR | 209,143 | $11.1M | 0.17% |
| 101 | Copart Inc. | CPRT | 281,529 | $11.0M | 0.17% |
| 102 | SPDR S&P 500 ETF | SPY | 15,723 | $10.7M | 0.16% |
| 103 | JBT Marel Corp. | JBTM | 69,230 | $10.4M | 0.16% |
| 104 | Dimensional National Municipal | 25434V849 | 209,523 | $10.1M | 0.15% |
| 105 | iShares iBonds Dec 2027 Term T | 46436E841 | 431,286 | $9.7M | 0.15% |
| 106 | SPDR S&P Dividend ETF | 78464A763 | 69,278 | $9.6M | 0.14% |
| 107 | iShares iBonds Dec 2031 Term T | 46436e460 | 469,677 | $9.6M | 0.14% |
| 108 | iShares iBonds Dec 2027 Term C | 46435UAA9 | 393,499 | $9.6M | 0.14% |
| 109 | iShares iBonds Dec 2032 Term T | 46436E296 | 397,180 | $9.2M | 0.14% |
| 110 | Invesco BulletShares 2034 Muni | IVZ | 366,347 | $9.0M | 0.13% |
| 111 | Global X Defense Tech ETF | 37960A529 | 131,317 | $8.5M | 0.13% |
| 112 | iShares iBonds Dec 2032 Term C | 46436E312 | 298,135 | $7.6M | 0.11% |
| 113 | Invesco Bulletshares 2033 Muni | IVZ | 293,618 | $7.6M | 0.11% |
| 114 | iShares iBonds Dec 2030 Term T | 46436e593 | 364,840 | $7.2M | 0.11% |
| 115 | SPDR S&P 400 Mid Cap Value ETF | 78464A839 | 77,720 | $6.6M | 0.10% |
| 116 | iShares 1-5 Year Investment Gr | 464288646 | 123,761 | $6.5M | 0.10% |
| 117 | TripAdvisor Inc. | TRIP | 440,405 | $6.4M | 0.10% |
| 118 | iShares iBonds Dec 2026 Term C | 46435GAA0 | 243,126 | $5.9M | 0.09% |
| 119 | Invesco BulletShares 2027 Muni | IVZ | 243,914 | $5.8M | 0.09% |
| 120 | Cavco Industries Inc. | 149568107 | 9,644 | $5.7M | 0.09% |
| 121 | Vail Resorts Inc. | MTN | 37,745 | $5.0M | 0.08% |
| 122 | Powershares Insured National M | IVZ | 213,404 | $4.9M | 0.07% |
| 123 | UniFirst Corp. | UNF | 25,558 | $4.9M | 0.07% |
| 124 | Main Street Capital Corp. | 56035L104 | 77,208 | $4.7M | 0.07% |
| 125 | Hercules Capital Inc. | HCXY | 229,506 | $4.3M | 0.06% |
| 126 | iShares iBonds Dec 2029 Term T | 46436E825 | 180,532 | $4.0M | 0.06% |
| 127 | Invesco BulletShares 2026 Muni | IVZ | 163,801 | $3.9M | 0.06% |
| 128 | Ares Capital Corp. | ARCC | 191,235 | $3.9M | 0.06% |
| 129 | Agnico Eagle Mines Ltd. | AEM | 22,589 | $3.8M | 0.06% |
| 130 | Berkshire Hathaway Inc. - A | BRK-A | 5 | $3.8M | 0.06% |
| 131 | F&G Annuities and Life | FGSN | 120,805 | $3.7M | 0.06% |
| 132 | iShares Russell 2000 Value ETF | 464287630 | 20,173 | $3.7M | 0.05% |
| 133 | Sixth Street Specialty Lending | TSLX | 157,855 | $3.4M | 0.05% |
| 134 | Golub Capital BDC Inc. | 38173M102 | 250,338 | $3.4M | 0.05% |
| 135 | CONMED Corp. | CNMD | 82,476 | $3.3M | 0.05% |
| 136 | Invesco BulletShares 2031 Muni | IVZ | 154,431 | $3.3M | 0.05% |
| 137 | iShares National Muni Bond ETF | 464288414 | 29,933 | $3.2M | 0.05% |
| 138 | SPDR Nuveen S&P High Yield Mun | 78464A284 | 125,516 | $3.1M | 0.05% |
| 139 | Blackstone Secured Lending Fun | BX | 116,726 | $3.1M | 0.05% |
| 140 | SPDR Nuveen Barclays Capital S | 78468R739 | 58,017 | $2.8M | 0.04% |
| 141 | VanEck Vectors Long Municipal | 92189F536 | 157,054 | $2.8M | 0.04% |
| 142 | Invesco BulletShares 2030 Muni | IVZ | 124,878 | $2.8M | 0.04% |
| 143 | Invesco BulletShares 2032 Munc | IVZ | 109,012 | $2.7M | 0.04% |
| 144 | Taiwan Semiconductor Manufactu | 874039100 | 8,634 | $2.6M | 0.04% |
| 145 | iShares iBonds Dec 2028 Term M | 46435U325 | 93,346 | $2.4M | 0.04% |
| 146 | Aberdeen Standard Physical Pla | PPLT | 12,745 | $2.4M | 0.04% |
| 147 | RBC Bearings Inc. | RBC | 4,994 | $2.2M | 0.03% |
| 148 | Hagerty Inc. | HGTY | 165,602 | $2.2M | 0.03% |
| 149 | Blue Owl Capital Corp. | OWL | 173,852 | $2.2M | 0.03% |
| 150 | Sandoz Group | 799926100 | 28,687 | $2.1M | 0.03% |
| 151 | iShares iBonds Dec 2029 Term M | 46436E163 | 81,442 | $2.1M | 0.03% |
| 152 | Stewart Information Services C | 860372101 | 29,210 | $2.1M | 0.03% |
| 153 | Knowles Corp. | KN | 90,519 | $1.9M | 0.03% |
| 154 | Gates Industrial Corp. plc | G39108108 | 90,326 | $1.9M | 0.03% |
| 155 | Haemonetics Corp. | HAE | 23,729 | $1.9M | 0.03% |
| 156 | Core Natural Resources Inc. | CNR | 20,979 | $1.9M | 0.03% |
| 157 | Barings BDC Inc. | BBDC | 201,684 | $1.9M | 0.03% |
| 158 | AerCap Holdings N.V. | AER | 12,748 | $1.8M | 0.03% |
| 159 | New Mountain Finance Corp. | 647551100 | 196,789 | $1.8M | 0.03% |
| 160 | Movado Group Inc. | MOVAA | 86,449 | $1.8M | 0.03% |
| 161 | iShares Silver Trust ETF | SLV | 27,504 | $1.8M | 0.03% |
| 162 | i3 Verticals Inc. | IIIV | 67,610 | $1.7M | 0.03% |
| 163 | FS KKR Capital Corp. | FSK | 114,758 | $1.7M | 0.03% |
| 164 | Hayward Holdings Inc. | HAYW | 108,877 | $1.7M | 0.03% |
| 165 | Mitsubishi UFJ Financial | 606822104 | 103,912 | $1.6M | 0.02% |
| 166 | DBS Group Holdings Ltd. | 23304y100 | 9,064 | $1.6M | 0.02% |
| 167 | Altus Group Ltd. | 02215R107 | 37,824 | $1.6M | 0.02% |
| 168 | ING Groep N.V. | INGVF | 54,501 | $1.5M | 0.02% |
| 169 | Antofagasta plc | G0398N128 | 34,322 | $1.5M | 0.02% |
| 170 | First Majestic Silver Corp. | AG | 90,903 | $1.5M | 0.02% |
| 171 | Newmont Mining Corp. | NEMCL | 15,137 | $1.5M | 0.02% |
| 172 | Zurich Insurance Group A.G. | 989825104 | 39,261 | $1.5M | 0.02% |
| 173 | Lundin Mining Corp. | 550372106 | 69,126 | $1.5M | 0.02% |
| 174 | First Quantum Minerals Ltd. | 335934105 | 55,068 | $1.5M | 0.02% |
| 175 | Sixth Street Specialty Lending | TSLX | 67,923 | $1.5M | 0.02% |
| 176 | Safran S.A. | 786584102 | 16,789 | $1.5M | 0.02% |
| 177 | Littelfuse Inc. | LFUS | 5,707 | $1.4M | 0.02% |
| 178 | ASML Holding N.V. | ASMLF | 1,337 | $1.4M | 0.02% |
| 179 | Southern Copper Corp. | SCCO | 9,404 | $1.3M | 0.02% |
| 180 | Alamos Gold Inc. | AGI | 34,673 | $1.3M | 0.02% |
| 181 | Spectrum Brands Holdings Inc. | SPB | 22,443 | $1.3M | 0.02% |
| 182 | UFP Technologies Inc. | UFPT | 5,936 | $1.3M | 0.02% |
| 183 | Mitsui & Co. Ltd. | 606827202 | 2,247 | $1.3M | 0.02% |
| 184 | Barings BDC Inc. | BBDC | 141,564 | $1.3M | 0.02% |
| 185 | Royal Gold Inc. | RGLD | 5,835 | $1.3M | 0.02% |
| 186 | Golub Capital BDC Inc. | 38173M102 | 95,567 | $1.3M | 0.02% |
| 187 | SAP S.E. | SAPGF | 5,279 | $1.3M | 0.02% |
| 188 | Amglo Am PLC ADR | 03485P409 | 61,956 | $1.3M | 0.02% |
| 189 | Sony Group Corp. | SNEJF | 49,939 | $1.3M | 0.02% |
| 190 | Shopify Inc. | SHOP | 7,937 | $1.3M | 0.02% |
| 191 | Glencore plc | GLCNF | 115,912 | $1.3M | 0.02% |
| 192 | ITOCHU Corp. | ITOCF | 9,827 | $1.2M | 0.02% |
| 193 | Disco Corp. | DISPF | 40,364 | $1.2M | 0.02% |
| 194 | Wheaton Precious Metals Corp. | WPM | 10,389 | $1.2M | 0.02% |
| 195 | iShares Russell 1000 Value ETF | 464287598 | 5,769 | $1.2M | 0.02% |
| 196 | Main Street Capital Corp. | 56035L104 | 19,875 | $1.2M | 0.02% |
| 197 | Chugai Pharms Co. Ltd. | 171269103 | 45,369 | $1.2M | 0.02% |
| 198 | BAE Systems plc | BAESF | 12,792 | $1.2M | 0.02% |
| 199 | Franco-Nevada Corp. | FNV | 5,694 | $1.2M | 0.02% |
| 200 | Franklin Street Properties Cor | 35471R106 | 1,231,656 | $1.2M | 0.02% |
| 201 | BNP Paribas S.A. | 05565A202 | 24,545 | $1.2M | 0.02% |
| 202 | Nintendo Co. Ltd. | NODK | 67,829 | $1.1M | 0.02% |
| 203 | Alibaba Group Holding Ltd. | BBAAY | 7,742 | $1.1M | 0.02% |
| 204 | Hercules Capital Inc. | HCXY | 60,283 | $1.1M | 0.02% |
| 205 | Freeport-McMoRan Inc. | FCX | 22,157 | $1.1M | 0.02% |
| 206 | Techtronic Industries Co. Ltd. | 87873R101 | 19,520 | $1.1M | 0.02% |
| 207 | MidCap Financial Investment Co | 03761U502 | 97,370 | $1.1M | 0.02% |
| 208 | Capital Southwest Corp. | CSWC | 49,380 | $1.1M | 0.02% |
| 209 | Hong Kong Exchanges and Cleari | 43858F109 | 20,911 | $1.1M | 0.02% |
| 210 | EQT Corp. | EQT | 20,116 | $1.1M | 0.02% |
| 211 | Expand Energy Corp. | EXE | 9,714 | $1.1M | 0.02% |
| 212 | Exxon Mobil Corp. | XOM | 8,884 | $1.1M | 0.02% |
| 213 | Tokio Marine Holdings Inc. | 889094108 | 28,897 | $1.1M | 0.02% |
| 214 | Blackstone Secured Lending Fun | BX | 40,189 | $1.1M | 0.02% |
| 215 | RLI Corp. | RLI | 16,497 | $1.1M | 0.02% |
| 216 | Rheinmetall AG | RH | 2,883 | $1.1M | 0.02% |
| 217 | L'Oreal S.A. | 502117203 | 12,241 | $1.0M | 0.02% |
| 218 | UFP Industries Inc | UFPI | 11,496 | $1.0M | 0.02% |
| 219 | Vulcan Materials Co. | 929160109 | 3,627 | $1.0M | 0.02% |
| 220 | Haleon plc | HLNCF | 99,380 | $1.0M | 0.02% |
| 221 | Antero Resources Corp. | AR | 28,627 | $986,486 | 0.01% |
| 222 | TotalEnergies S.E. | TTE | 15,067 | $985,683 | 0.01% |
| 223 | Bain Capital Specialty Finance | 05684B107 | 69,543 | $967,343 | 0.01% |
| 224 | Winnebago Industries Inc. | 974637100 | 23,773 | $963,302 | 0.01% |
| 225 | Roche Holding A.G. | 771195104 | 18,649 | $961,729 | 0.01% |
| 226 | Coterra Energy Inc. | CTRA | 36,515 | $961,075 | 0.01% |
| 227 | Unilever plc | UNLYF | 14,293 | $934,740 | 0.01% |
| 228 | Lundin Gold Inc. | 550371108 | 11,202 | $930,214 | 0.01% |
| 229 | LVMH Moet Hennessy Louis Vuitt | 502441306 | 6,120 | $922,957 | 0.01% |
| 230 | John B Sanfilippo & Son Inc. | JBSS | 13,041 | $920,691 | 0.01% |
| 231 | ICON plc | ICLR | 5,022 | $915,109 | 0.01% |
| 232 | Uranium Energy Corp. | UEC | 78,197 | $913,341 | 0.01% |
| 233 | Sea Ltd. | SE | 7,119 | $908,171 | 0.01% |
| 234 | New Mountain Finance Corp. | 647551100 | 97,976 | $902,359 | 0.01% |
| 235 | American Express Co. | AXP | 2,400 | $887,880 | 0.01% |
| 236 | Cannae Holdings Inc. | CNNE | 54,816 | $862,249 | 0.01% |
| 237 | Denison Mines Corp. | DNN | 321,204 | $854,403 | 0.01% |
| 238 | Putnam BDC Income ETF | 746729508 | 27,635 | $845,631 | 0.01% |
| 239 | Enovis Corp. | ENOV | 31,189 | $830,875 | 0.01% |
| 240 | NexGen Energy Ltd | NXE | 90,138 | $829,270 | 0.01% |
| 241 | Cameco Corp. | CCJ | 8,909 | $815,084 | 0.01% |
| 242 | iShares iBonds Dec 2027 Term M | 46435U283 | 31,764 | $806,488 | 0.01% |
| 243 | Morgan Stanley Direct Lending | 61774A103 | 48,658 | $801,884 | 0.01% |
| 244 | Oaktree Specialty Lending Corp | OCSL | 62,599 | $797,511 | 0.01% |
| 245 | Wal-Mart de Mexico S.A.B. de C | 93114W107 | 25,564 | $796,830 | 0.01% |
| 246 | Blue Owl Capital Corp. | OWL | 63,232 | $785,978 | 0.01% |
| 247 | ESAB Corp. | ESAB | 6,960 | $777,571 | 0.01% |
| 248 | Capital Southwest Corp. | CSWC | 34,430 | $762,624 | 0.01% |
| 249 | J & J Snack Foods Corp. | JJSF | 8,301 | $750,186 | 0.01% |
| 250 | Komatsu Ltd. | 500458401 | 23,544 | $747,522 | 0.01% |
| 251 | Sibanye Stillwater Ltd. | SBYSF | 49,766 | $709,165 | 0.01% |
| 252 | Goldman Sachs BDC Inc. | GSBD | 75,821 | $703,619 | 0.01% |
| 253 | Marten Transport Ltd. | MRTN | 61,161 | $696,016 | 0.01% |
| 254 | Nuveen Churchill Direct Lendin | 67090S108 | 52,154 | $695,734 | 0.01% |
| 255 | Oaktree Specialty Lending Corp | OCSL | 53,613 | $683,030 | 0.01% |
| 256 | Gold Fields Ltd. | GFIOF | 15,364 | $670,792 | 0.01% |
| 257 | Novo Nordisk A.S. | NONOF | 13,043 | $663,628 | 0.01% |
| 258 | SLR Investment Corp. | SLRC | 42,438 | $656,091 | 0.01% |
| 259 | FS KKR Capital Corp. | FSK | 43,271 | $640,844 | 0.01% |
| 260 | Curtiss-Wright Corp. | CW | 1,160 | $639,473 | 0.01% |
| 261 | iShares 0-3 Month Treasury Bon | 46436E718 | 6,008 | $603,110 | 0.01% |
| 262 | Chubb Ltd. | CB | 1,882 | $587,410 | 0.01% |
| 263 | Broadridge Financial Solutions | 11133T103 | 2,608 | $581,980 | 0.01% |
| 264 | Crescent Capital BDC Inc. | 225655109 | 41,011 | $576,205 | 0.01% |
| 265 | Snap-on Inc. | SNA | 1,612 | $555,495 | 0.01% |
| 266 | Analog Devices Inc. | ADI | 1,962 | $532,094 | 0.01% |
| 267 | Hershey Co. | HSY | 2,915 | $530,432 | 0.01% |
| 268 | Cisco Systems Inc. | CSCO | 6,618 | $509,785 | 0.01% |
| 269 | Progressive Corp. | 743315103 | 2,204 | $501,800 | 0.01% |
| 270 | WEC Energy Group Inc. | WEC | 4,690 | $494,607 | 0.01% |
| 271 | Entergy Corp. | ENO | 5,299 | $489,787 | 0.01% |
| 272 | Trinity Capital Inc. | TRINZ | 33,382 | $489,046 | 0.01% |
| 273 | Northern Trust Corp. | NTRSO | 3,573 | $488,036 | 0.01% |
| 274 | Lockheed Martin Corp. | LMT | 993 | $480,373 | 0.01% |
| 275 | Fidelity National Financial In | FNF | 8,387 | $457,846 | 0.01% |
| 276 | Linde plc | LIN | 1,049 | $447,283 | 0.01% |
| 277 | Southern Co. | SOMN | 5,107 | $445,330 | 0.01% |
| 278 | Fastenal Co. | FAST | 10,616 | $426,020 | 0.01% |
| 279 | Gilead Sciences Inc. | GILD | 3,457 | $424,312 | 0.01% |
| 280 | Crescent Capital BDC Inc. | 225655109 | 29,609 | $416,010 | 0.01% |
| 281 | SLR Investment Corp. | SLRC | 26,900 | $415,868 | 0.01% |
| 282 | Kinder Morgan Inc. | EP-PC | 14,716 | $404,543 | 0.01% |
| 283 | Vista Energy S.A.B. de C.V. | VSOGF | 8,271 | $402,467 | 0.01% |
| 284 | Chevron Corp. | CVX | 2,628 | $400,533 | 0.01% |
| 285 | KB Financial Group Inc. | KB | 4,567 | $392,911 | 0.01% |
| 286 | Home Depot Inc. | HD | 1,132 | $389,521 | 0.01% |
| 287 | Morgan Stanley Direct Lending | 61774A103 | 23,498 | $387,247 | 0.01% |
| 288 | Vail Resorts Inc. | MTN | 2,903 | $385,518 | 0.01% |
| 289 | Hayward Holdings Inc. | HAYW | 24,891 | $384,566 | 0.01% |
| 290 | American Water Works Co. Inc. | 030420103 | 2,930 | $382,365 | 0.01% |
| 291 | UniFirst Corp. | UNF | 1,974 | $380,785 | 0.01% |
| 292 | Paychex Inc. | PAYX | 3,387 | $379,954 | 0.01% |
| 293 | U.S. Bancorp | USB-PS | 7,108 | $379,283 | 0.01% |
| 294 | Vontier Corp. | VNT | 10,189 | $378,827 | 0.01% |
| 295 | TripAdvisor Inc. | TRIP | 25,933 | $377,584 | 0.01% |
| 296 | Spectrum Brands Holdings Inc. | SPB | 6,370 | $376,340 | 0.01% |
| 297 | JBT Marel Corp. | JBTM | 2,477 | $373,210 | 0.01% |
| 298 | RBC Bearings Inc. | RBC | 824 | $369,506 | 0.01% |
| 299 | Valvoline Inc. | VVV | 12,692 | $368,830 | 0.01% |
| 300 | Accenture plc | ACN | 1,362 | $365,425 | 0.01% |
| 301 | Stewart Information Services C | 860372101 | 5,146 | $361,558 | 0.01% |
| 302 | Hagerty Inc. | HGTY | 26,835 | $360,662 | 0.01% |
| 303 | Knowles Corp. | KN | 16,817 | $360,388 | 0.01% |
| 304 | Lynas Rare Earths Ltd. | 551073307 | 43,577 | $360,382 | 0.01% |
| 305 | Honeywell International Inc. | 438516106 | 1,840 | $358,966 | 0.01% |
| 306 | Morningstar Inc. | MORN | 1,646 | $357,692 | 0.01% |
| 307 | UFP Industries Inc | UFPI | 3,907 | $355,732 | 0.01% |
| 308 | UFP Technologies Inc. | UFPT | 1,596 | $354,360 | 0.01% |
| 309 | Movado Group Inc. | MOVAA | 17,131 | $353,241 | 0.01% |
| 310 | Cavco Industries Inc. | 149568107 | 593 | $350,309 | 0.01% |
| 311 | Haemonetics Corp. | HAE | 4,354 | $348,973 | 0.01% |
| 312 | Kayne Anderson BDC | KBDC | 24,325 | $348,334 | 0.01% |
| 313 | RLI Corp. | RLI | 5,372 | $343,701 | 0.01% |
| 314 | Littelfuse Inc. | LFUS | 1,351 | $341,695 | 0.01% |
| 315 | CONMED Corp. | CNMD | 8,411 | $341,487 | 0.01% |
| 316 | ASE Technology Holding Co. Ltd | ASX | 21,200 | $341,320 | 0.01% |
| 317 | Gates Industrial Corp. plc | G39108108 | 15,881 | $340,965 | 0.01% |
| 318 | Altus Group Ltd. | 02215R107 | 8,166 | $337,434 | 0.01% |
| 319 | MSC Income Fund | MSIF | 25,157 | $330,563 | 0.00% |
| 320 | iShares iBonds Dec 2026 Term M | 46435U259 | 12,881 | $330,230 | 0.00% |
| 321 | Keysight Technologies Inc. | KEYS | 1,618 | $328,761 | 0.00% |
| 322 | Coca-Cola Femsa S.A.B. de C.V. | COCSF | 3,395 | $321,540 | 0.00% |
| 323 | Tencent Holdings Ltd. | XHLD | 4,148 | $317,529 | 0.00% |
| 324 | Kayne Anderson BDC | KBDC | 22,085 | $316,257 | 0.00% |
| 325 | ICICI Bank Ltd. | IBN | 10,601 | $315,910 | 0.00% |
| 326 | i3 Verticals Inc. | IIIV | 12,500 | $314,875 | 0.00% |
| 327 | Airbus SE | AIIR | 5,425 | $314,216 | 0.00% |
| 328 | Bain Capital Specialty Finance | 05684B107 | 22,571 | $313,963 | 0.00% |
| 329 | SPDR Gold Shares ETF | GLD | 776 | $307,537 | 0.00% |
| 330 | Colgate-Palmolive Co. | CL | 3,869 | $305,728 | 0.00% |
| 331 | Shinhan Financial Group Co. Lt | SHG | 5,671 | $304,136 | 0.00% |
| 332 | MakeMyTrip Ltd. | MMYT | 3,665 | $300,970 | 0.00% |
| 333 | Willis Towers Watson plc | WTW | 911 | $299,355 | 0.00% |
| 334 | MidCap Financial Investment Co | 03761U502 | 25,987 | $297,291 | 0.00% |
| 335 | Microsoft Corp. | MSFT | 602 | $290,959 | 0.00% |
| 336 | Palmer Square Capital BDC Inc. | PSBD | 23,401 | $285,258 | 0.00% |
| 337 | BCP Investment Corp. | BCIC | 24,018 | $284,136 | 0.00% |
| 338 | iShares Core MSCI EAFE ETF | 46432F842 | 3,164 | $283,051 | 0.00% |
| 339 | H World Group Ltd. | HWLDF | 5,944 | $279,665 | 0.00% |
| 340 | Nuveen Churchill Direct Lendin | 67090S108 | 20,735 | $276,605 | 0.00% |
| 341 | Winnebago Industries Inc. | 974637100 | 6,813 | $276,063 | 0.00% |
| 342 | MP Materials Corp. | MP | 5,437 | $274,677 | 0.00% |
| 343 | Marten Transport Ltd. | MRTN | 24,100 | $274,258 | 0.00% |
| 344 | Baldwin Insurance Group Inc. | BWIN | 11,386 | $273,606 | 0.00% |
| 345 | J & J Snack Foods Corp. | JJSF | 3,009 | $271,923 | 0.00% |
| 346 | Avantis US Large Cap Equity ET | 025072158 | 3,458 | $271,868 | 0.00% |
| 347 | Ares Capital Corp. | ARCC | 13,196 | $266,955 | 0.00% |
| 348 | Fomento Economico Mexicano S.A | 344419106 | 2,636 | $266,442 | 0.00% |
| 349 | Yum China Holdings Inc. | YUMC | 5,440 | $259,706 | 0.00% |
| 350 | Ramaco Resources Inc | METCZ | 14,332 | $257,976 | 0.00% |
| 351 | ZTO Express Cayman Inc. | ZTOEF | 12,150 | $253,813 | 0.00% |
| 352 | Enovis Corp. | ENOV | 9,514 | $253,453 | 0.00% |
| 353 | HDFC Bank Ltd. | HDB | 6,899 | $252,089 | 0.00% |
| 354 | Infosys Ltd. | INFY | 14,139 | $251,954 | 0.00% |
| 355 | MercadoLibre Inc. | MELI | 124 | $249,768 | 0.00% |
| 356 | Dollar Tree Inc. | DLTR | 2,027 | $249,341 | 0.00% |
| 357 | Credicorp Ltd. | BAP | 862 | $247,394 | 0.00% |
| 358 | Diageo plc | DGEAF | 2,848 | $245,706 | 0.00% |
| 359 | Charles River Laboratories Int | 159864107 | 1,194 | $238,179 | 0.00% |
| 360 | Ameriprise Financial Inc. | 03076C106 | 480 | $235,363 | 0.00% |
| 361 | JBS N.V. | JBS | 15,930 | $229,711 | 0.00% |
| 362 | T. Rowe Price Group Inc. | TROW | 2,227 | $228,000 | 0.00% |
| 363 | Baidu Inc. | BAIDF | 1,740 | $227,348 | 0.00% |
| 364 | Copa Holdings SA | CPA | 1,880 | $226,747 | 0.00% |
| 365 | Paycom Software Inc. | PAYC | 1,406 | $224,076 | 0.00% |
| 366 | Cannae Holdings Inc. | CNNE | 14,114 | $222,013 | 0.00% |
| 367 | Grupo Financiero Banorte S.A.B | 40052P107 | 4,767 | $221,290 | 0.00% |
| 368 | JPMorgan Chase & Co. | VYLD | 685 | $220,721 | 0.00% |
| 369 | TJX Co. Inc. | 872540109 | 1,386 | $212,960 | 0.00% |
| 370 | NVIDIA Corp. | NVDA | 1,139 | $212,423 | 0.00% |
| 371 | Controladora Vuela Cia de Avia | 21240E105 | 23,638 | $209,905 | 0.00% |
| 372 | iShares 20Plus Year Treasury B | 464287432 | 2,399 | $209,097 | 0.00% |
| 373 | Dr Reddy's Laboratories Ltd. | 256135203 | 14,760 | $207,230 | 0.00% |
| 374 | Mastercard Inc. | MA | 360 | $205,236 | 0.00% |
| 375 | Alphabet Inc. | GOOG | 652 | $204,672 | 0.00% |
| 376 | Infineon Technologies A.G. | IFNNF | 4,621 | $203,232 | 0.00% |
| 377 | Visa Inc. | V | 573 | $200,957 | 0.00% |
| 378 | Nordson Corp. | NDSN | 834 | $200,491 | 0.00% |
| 379 | Nebius Group N.V. | NBIS | 2,393 | $200,306 | 0.00% |
| 380 | ESAB Corp. | ESAB | 1,787 | $199,644 | 0.00% |
| 381 | Mondelez International Inc. | 609207105 | 3,653 | $196,641 | 0.00% |
| 382 | W. R. Berkley Corp. | WRB-PH | 2,734 | $191,714 | 0.00% |
| 383 | Thermo Fisher Scientific Inc. | TMO | 328 | $190,167 | 0.00% |
| 384 | iShares Russell 2000 Value ETF | 464287630 | 1,030 | $186,646 | 0.00% |
| 385 | S&P Global Inc. | SPGI | 354 | $184,854 | 0.00% |
| 386 | Stryker Corp. | SYK | 509 | $178,950 | 0.00% |
| 387 | Lowe's Co. Inc. | 548661107 | 739 | $178,318 | 0.00% |
| 388 | Berkshire Hathaway Inc. - B | BRK-A | 353 | $177,435 | 0.00% |
| 389 | Graco Inc. | GGG | 2,061 | $168,955 | 0.00% |
| 390 | NXP Semiconductors N.V. | NXPI | 769 | $167,023 | 0.00% |
| 391 | Trinity Capital Inc. | TRINZ | 11,398 | $166,981 | 0.00% |
| 392 | PennantPark Investment Corp. | 708062104 | 27,848 | $165,974 | 0.00% |
| 393 | PT Astra International Tbk | 69367X109 | 18,723 | $151,469 | 0.00% |
| 394 | Vontier Corp. | VNT | 4,063 | $151,071 | 0.00% |
| 395 | Runway Growth Finance Corp. | RWAYL | 16,420 | $146,631 | 0.00% |
| 396 | John B Sanfilippo & Son Inc. | JBSS | 1,985 | $140,141 | 0.00% |
| 397 | Baldwin Insurance Group Inc. | BWIN | 5,688 | $136,683 | 0.00% |
| 398 | Morningstar Inc. | MORN | 619 | $134,474 | 0.00% |
| 399 | JBT Marel Corp. | JBTM | 884 | $133,192 | 0.00% |
| 400 | TripAdvisor Inc. | TRIP | 8,672 | $126,264 | 0.00% |
| 401 | Walt Disney Co. | 254687106 | 1,072 | $121,961 | 0.00% |
| 402 | Clorox Co. | CLX | 1,200 | $120,996 | 0.00% |
| 403 | Brown-Forman Corp. - B | BF-B | 4,193 | $109,270 | 0.00% |
| 404 | Cavco Industries Inc. | 149568107 | 184 | $108,696 | 0.00% |
| 405 | Ecopetrol S.A. | EC | 10,828 | $108,497 | 0.00% |
| 406 | Brown & Brown Inc. | BRO | 1,300 | $103,585 | 0.00% |
| 407 | Starbucks Corp. | SBUX | 1,230 | $103,541 | 0.00% |
| 408 | Valvoline Inc. | VVV | 3,243 | $94,242 | 0.00% |
| 409 | UniFirst Corp. | UNF | 488 | $94,135 | 0.00% |
| 410 | Vail Resorts Inc. | MTN | 707 | $93,890 | 0.00% |
| 411 | Copart Inc. | CPRT | 2,239 | $87,657 | 0.00% |
| 412 | Carrier Global Corp. | CARR | 1,589 | $83,954 | 0.00% |
| 413 | Arcos Dorados Holdings Inc. | ARCO | 10,613 | $77,899 | 0.00% |
| 414 | Martin Marietta Materials Inc. | 573284106 | 112 | $69,738 | 0.00% |
| 415 | Arch Capital Group Ltd. | G0450A105 | 689 | $66,089 | 0.00% |
| 416 | Masco Corp. | MAS | 976 | $61,937 | 0.00% |
| 417 | Hagerty Inc. | HGTY | 4,483 | $60,252 | 0.00% |
| 418 | Dow Inc. | DOW | 2,551 | $59,642 | 0.00% |
| 419 | Booking Holdings Inc. | BKNG | 11 | $58,909 | 0.00% |
| 420 | Illinois Tool Works Inc. | 452308109 | 231 | $56,895 | 0.00% |
| 421 | RBC Bearings Inc. | RBC | 126 | $56,502 | 0.00% |
| 422 | SPDR Portfolio S&P 500 Growth | 78464A409 | 510 | $54,381 | 0.00% |
| 423 | Knowles Corp. | KN | 2,537 | $54,368 | 0.00% |
| 424 | Gates Industrial Corp. plc | G39108108 | 2,524 | $54,190 | 0.00% |
| 425 | SPDR Portfolio Developed World | 78463X889 | 1,173 | $52,093 | 0.00% |
| 426 | Stewart Information Services C | 860372101 | 712 | $50,025 | 0.00% |
| 427 | i3 Verticals Inc. | IIIV | 1,985 | $50,002 | 0.00% |
| 428 | Haemonetics Corp. | HAE | 604 | $48,411 | 0.00% |
| 429 | Hayward Holdings Inc. | HAYW | 2,871 | $44,357 | 0.00% |
| 430 | Littelfuse Inc. | LFUS | 159 | $40,214 | 0.00% |
| 431 | Spectrum Brands Holdings Inc. | SPB | 639 | $37,752 | 0.00% |
| 432 | Movado Group Inc. | MOVAA | 1,798 | $37,075 | 0.00% |
| 433 | Altus Group Ltd. | 02215R107 | 873 | $36,074 | 0.00% |
| 434 | UFP Technologies Inc. | UFPT | 156 | $34,637 | 0.00% |
| 435 | SPDR Portfolio S&P 500 Value E | 78464a508 | 534 | $30,328 | 0.00% |
| 436 | Air Products and Chemicals Inc | AIIR | 121 | $29,889 | 0.00% |
| 437 | RLI Corp. | RLI | 450 | $28,791 | 0.00% |
| 438 | SPDR Gold MiniShares Trust ETF | GLDW | 336 | $28,684 | 0.00% |
| 439 | UFP Industries Inc | UFPI | 302 | $27,497 | 0.00% |
| 440 | Cannae Holdings Inc. | CNNE | 1,320 | $20,764 | 0.00% |
| 441 | ESAB Corp. | ESAB | 185 | $20,668 | 0.00% |
| 442 | Winnebago Industries Inc. | 974637100 | 437 | $17,707 | 0.00% |
| 443 | John B Sanfilippo & Son Inc. | JBSS | 243 | $17,156 | 0.00% |
| 444 | Constellation Brands | STZ | 112 | $15,452 | 0.00% |
| 445 | F&G Annuities and Life | FGSN | 495 | $15,271 | 0.00% |
| 446 | Marten Transport Ltd. | MRTN | 1,196 | $13,610 | 0.00% |
| 447 | SPDR S&P 400 Mid Cap Growth ET | 78464A821 | 138 | $12,726 | 0.00% |
| 448 | J & J Snack Foods Corp. | JJSF | 138 | $12,471 | 0.00% |
| 449 | ProShares S&P MidCap 400 Divid | 74347B680 | 141 | $11,875 | 0.00% |
| 450 | CONMED Corp. | CNMD | 277 | $11,246 | 0.00% |
| 451 | Enovis Corp. | ENOV | 413 | $11,002 | 0.00% |
| 452 | iShares Core MSCI Europe ETF | 46434V738 | 141 | $10,008 | 0.00% |
| 453 | SPDR S&P Dividend ETF | 78464A763 | 64 | $8,906 | 0.00% |
| 454 | Global X Defense Tech ETF | 37960A529 | 121 | $7,840 | 0.00% |
| 455 | Avantis International Small Ca | 025072802 | 77 | $7,236 | 0.00% |
| 456 | SPDR Portfolio Mortgage Backed | 78464A383 | 321 | $7,195 | 0.00% |
| 457 | SPDR S&P 400 Mid Cap Value ETF | 78464A839 | 84 | $7,115 | 0.00% |
| 458 | iShares 3-7 Year Treasury Bond | 464288661 | 40 | $4,774 | 0.00% |