13F HOLDINGS REPORT
CONFLUENCE INVESTMENT MANAGEMENT LLC
Quarter ended Q1 2024 · Filed April 1, 2024 · Accession 0001636661-24-000005
Total Value
$7.44B
Positions
353
Other Managers
1
Confidential Omitted
No
Holdings (353)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Fastenal Co. | FAST | 2,533,823 | $195.5M | 2.63% |
| 2 | Progressive Corp. | 743315103 | 912,107 | $188.6M | 2.54% |
| 3 | Microsoft Corp. | MSFT | 417,655 | $175.7M | 2.36% |
| 4 | Snap-on Inc. | SNA | 585,549 | $173.5M | 2.33% |
| 5 | Linde plc | LIN | 369,588 | $171.6M | 2.31% |
| 6 | PepsiCo Inc. | PEP | 949,904 | $166.2M | 2.24% |
| 7 | Chubb Ltd. | CB | 640,344 | $165.9M | 2.23% |
| 8 | Lockheed Martin Corp. | LMT | 332,847 | $151.4M | 2.04% |
| 9 | Home Depot Inc. | HD | 392,398 | $150.5M | 2.02% |
| 10 | Paychex Inc. | PAYX | 1,193,952 | $146.6M | 1.97% |
| 11 | Broadridge Financial Solutions | 11133T103 | 703,082 | $144.0M | 1.94% |
| 12 | Analog Devices Inc. | ADI | 701,752 | $138.8M | 1.87% |
| 13 | Clorox Co. | CLX | 885,835 | $135.6M | 1.82% |
| 14 | Fidelity National Financial In | FNF | 2,548,912 | $135.3M | 1.82% |
| 15 | Colgate-Palmolive Co. | CL | 1,450,553 | $130.6M | 1.76% |
| 16 | T. Rowe Price Group Inc. | TROW | 1,069,437 | $130.4M | 1.75% |
| 17 | Southern Co. | SOMN | 1,789,977 | $128.4M | 1.73% |
| 18 | WEC Energy Group Inc. | WEC | 1,558,019 | $127.9M | 1.72% |
| 19 | Diageo plc | DGEAF | 843,581 | $125.5M | 1.69% |
| 20 | Chevron Corp. | CVX | 784,081 | $123.7M | 1.66% |
| 21 | Nestle S.A. | 641069406 | 1,046,136 | $111.1M | 1.49% |
| 22 | Polaris Inc. | PII | 1,087,590 | $108.9M | 1.46% |
| 23 | Northern Trust Corp. | NTRSO | 1,188,320 | $105.7M | 1.42% |
| 24 | Dow Inc. | DOW | 1,746,166 | $101.2M | 1.36% |
| 25 | United Parcel Service Inc. | UPS | 673,993 | $100.2M | 1.35% |
| 26 | Cisco Systems Inc. | CSCO | 1,913,222 | $95.5M | 1.28% |
| 27 | Stryker Corp. | SYK | 260,903 | $93.4M | 1.26% |
| 28 | Entergy Corp. | ENO | 872,985 | $92.3M | 1.24% |
| 29 | U.S. Bancorp | USB-PS | 2,062,460 | $92.2M | 1.24% |
| 30 | Mastercard Inc. | MA | 191,308 | $92.1M | 1.24% |
| 31 | TJX Cos. Inc. | 872540109 | 901,448 | $91.4M | 1.23% |
| 32 | iShares 0-3 Month Treasury Bon | 46436E718 | 907,300 | $91.4M | 1.23% |
| 33 | Gilead Sciences Inc. | GILD | 1,245,994 | $91.3M | 1.23% |
| 34 | Brookfield Infrastructure Corp | BIPC | 2,489,171 | $89.7M | 1.21% |
| 35 | Kinder Morgan Inc. | EP-PC | 4,777,898 | $87.6M | 1.18% |
| 36 | Ares Capital Corp. | ARCC | 3,991,554 | $83.1M | 1.12% |
| 37 | W. R. Berkley Corp. | WRB-PH | 935,165 | $82.7M | 1.11% |
| 38 | Weyerhaeuser Co. | WY | 2,269,758 | $81.5M | 1.10% |
| 39 | S&P Global Inc. | SPGI | 189,865 | $80.8M | 1.09% |
| 40 | Masco Corp. | MAS | 991,134 | $78.2M | 1.05% |
| 41 | Rayonier Inc. | RYN | 2,317,310 | $77.0M | 1.04% |
| 42 | Oracle Corp. | ORCL-PD | 591,938 | $74.4M | 1.00% |
| 43 | Graco Inc. | GGG | 758,518 | $70.9M | 0.95% |
| 44 | Berkshire Hathaway Inc. - B | BRK-A | 161,085 | $67.7M | 0.91% |
| 45 | Alphabet Inc. | GOOG | 438,038 | $66.7M | 0.90% |
| 46 | Illinois Tool Works Inc. | 452308109 | 245,021 | $65.7M | 0.88% |
| 47 | Lowe's Cos. Inc. | 548661107 | 251,667 | $64.1M | 0.86% |
| 48 | Starbucks Corp. | SBUX | 685,247 | $62.6M | 0.84% |
| 49 | Markel Corp. Inc. | MKL | 39,901 | $60.7M | 0.82% |
| 50 | NXP Semiconductors N.V. | NXPI | 226,459 | $56.1M | 0.75% |
| 51 | SPDR Portfolio Mortgage Backed | 78464A383 | 2,581,084 | $56.1M | 0.75% |
| 52 | Brookfield Corp. | 11271J107 | 1,317,556 | $55.2M | 0.74% |
| 53 | Keysight Technologies Inc. | KEYS | 338,230 | $52.9M | 0.71% |
| 54 | Invesco S&P MidCap Quality ETF | IVZ | 472,710 | $52.0M | 0.70% |
| 55 | Thermo Fisher Scientific Inc. | TMO | 87,203 | $50.7M | 0.68% |
| 56 | Brown & Brown Inc. | BRO | 555,040 | $48.6M | 0.65% |
| 57 | Booking Holdings Inc. | BKNG | 13,096 | $47.5M | 0.64% |
| 58 | Nordson Corp. | NDSN | 156,241 | $42.9M | 0.58% |
| 59 | Constellation Brands | STZ | 143,428 | $39.0M | 0.52% |
| 60 | Pacer US Small Cap Cash Cows 1 | 69374H857 | 788,662 | $38.8M | 0.52% |
| 61 | iShares BB Rated Corporate Bon | 46435U473 | 806,665 | $37.3M | 0.50% |
| 62 | SPDR S&P 400 Mid Cap Growth ET | 78464A821 | 425,999 | $37.2M | 0.50% |
| 63 | Hershey Co. | HSY | 180,412 | $35.1M | 0.47% |
| 64 | iShares iBonds Dec 2027 Term T | 46436E841 | 1,386,858 | $30.7M | 0.41% |
| 65 | Amphenol Corp. | 032095101 | 259,930 | $30.0M | 0.40% |
| 66 | Dun & Bradstreet Holdings Inc. | 26484T106 | 2,961,755 | $29.7M | 0.40% |
| 67 | Sherwin-Williams Co. | SHW | 84,165 | $29.2M | 0.39% |
| 68 | Vontier Corp. | VNT | 612,224 | $27.8M | 0.37% |
| 69 | Ecolab Inc. | ECL | 118,739 | $27.4M | 0.37% |
| 70 | Gates Industrial Corp. plc | G39108108 | 1,541,669 | $27.3M | 0.37% |
| 71 | SPDR Gold MiniShares Trust ETF | GLDW | 615,603 | $27.1M | 0.36% |
| 72 | Charles River Laboratories Int | 159864107 | 96,957 | $26.3M | 0.35% |
| 73 | iShares 1-3 Year Treasury Bond | 464287457 | 313,351 | $25.6M | 0.34% |
| 74 | ResMed Inc. | RSMDF | 129,161 | $25.6M | 0.34% |
| 75 | General Dynamics Corp. | GD | 89,274 | $25.2M | 0.34% |
| 76 | Donaldson Co. Inc. | DCI | 335,000 | $25.0M | 0.34% |
| 77 | SPDR S&P 400 Mid Cap Value ETF | 78464A839 | 326,099 | $24.8M | 0.33% |
| 78 | EOG Resources Inc. | EOG | 191,926 | $24.5M | 0.33% |
| 79 | McDonald's Corp. | MCD | 83,560 | $23.6M | 0.32% |
| 80 | Procter & Gamble Co. | 742718109 | 142,912 | $23.2M | 0.31% |
| 81 | Expeditors International of Wa | 302130109 | 190,652 | $23.2M | 0.31% |
| 82 | Martin Marietta Materials Inc. | 573284106 | 36,294 | $22.3M | 0.30% |
| 83 | Rockwell Automation Inc. | ROK | 76,265 | $22.2M | 0.30% |
| 84 | SPDR S&P 600 Small Cap Growth | 78464A201 | 242,435 | $21.1M | 0.28% |
| 85 | Toro Co. | TORO | 225,773 | $20.7M | 0.28% |
| 86 | iShares iBonds Dec 2026 Term C | 46435GAA0 | 845,491 | $20.2M | 0.27% |
| 87 | Morningstar Inc. | MORN | 64,994 | $20.0M | 0.27% |
| 88 | Becton Dickinson and Co. | BDX | 79,799 | $19.7M | 0.27% |
| 89 | iShares iBonds Dec 2026 Term T | 46436E858 | 867,969 | $19.7M | 0.27% |
| 90 | Air Products and Chemicals Inc | AIIR | 80,409 | $19.5M | 0.26% |
| 91 | New Jersey Resources Corp. | NJR | 450,647 | $19.3M | 0.26% |
| 92 | Clarivate plc | CLVT | 2,475,002 | $18.4M | 0.25% |
| 93 | iShares MBS ETF | 464288588 | 197,700 | $18.3M | 0.25% |
| 94 | Medtronic plc | MDT | 209,001 | $18.2M | 0.24% |
| 95 | American Water Works Co. Inc. | 030420103 | 143,108 | $17.5M | 0.24% |
| 96 | SPDR Portfolio S&P 500 Value E | 78464a508 | 343,760 | $17.2M | 0.23% |
| 97 | Dollar Tree Inc. | DLTR | 129,032 | $17.2M | 0.23% |
| 98 | NIKE Inc. | NKE | 174,300 | $16.4M | 0.22% |
| 99 | SPDR S&P 500 ETF | SPY | 27,976 | $14.6M | 0.20% |
| 100 | Azek Co. Inc. | 05478C105 | 256,831 | $12.9M | 0.17% |
| 101 | CarMax Inc. | KMX | 146,324 | $12.7M | 0.17% |
| 102 | Spectrum Brands Holdings Inc. | SPB | 134,953 | $12.0M | 0.16% |
| 103 | Keurig Dr. Pepper Inc. | KDP | 370,876 | $11.4M | 0.15% |
| 104 | DuPont de Nemours Inc. | DD | 144,925 | $11.1M | 0.15% |
| 105 | Dimensional National Municipal | 25434V849 | 230,287 | $11.1M | 0.15% |
| 106 | Global X Uranium ETF | 37954Y871 | 383,760 | $11.1M | 0.15% |
| 107 | iShares iBonds Dec 2028 Term T | 46436E833 | 448,617 | $9.8M | 0.13% |
| 108 | iShares iBonds Dec 2032 Term T | 46436E296 | 431,101 | $9.8M | 0.13% |
| 109 | SPDR Portfolio S&P 500 Growth | 78464A409 | 126,245 | $9.2M | 0.12% |
| 110 | Powershares Insured National M | IVZ | 361,255 | $8.6M | 0.12% |
| 111 | iShares Barclays 10-20 Year Tr | 464288653 | 79,329 | $8.3M | 0.11% |
| 112 | iShares iBonds Dec 2033 Term C | 46436E130 | 321,458 | $8.2M | 0.11% |
| 113 | J & J Snack Foods Corp. | JJSF | 56,481 | $8.2M | 0.11% |
| 114 | SPDR Portfolio Intermediate Te | 78464A375 | 246,764 | $8.1M | 0.11% |
| 115 | iShares iBonds Dec 2030 Term T | 46436e593 | 408,958 | $7.9M | 0.11% |
| 116 | iShares iBonds Dec 2029 Term T | 46436E825 | 366,684 | $7.9M | 0.11% |
| 117 | SPDR Nuveen S&P High Yield Mun | 78464A284 | 265,304 | $6.8M | 0.09% |
| 118 | Invesco BulletShares 2028 Muni | IVZ | 287,790 | $6.8M | 0.09% |
| 119 | Invesco BulletShares 2027 Muni | IVZ | 259,568 | $6.1M | 0.08% |
| 120 | Invesco BulletShares 2031 Muni | IVZ | 285,757 | $6.1M | 0.08% |
| 121 | Hercules Capital Inc. | HCXY | 330,000 | $6.1M | 0.08% |
| 122 | iShares 3-7 Year Treasury Bond | 464288661 | 48,858 | $5.7M | 0.08% |
| 123 | Invesco BulletShares 2026 Muni | IVZ | 235,096 | $5.5M | 0.07% |
| 124 | Invesco BulletShares 2025 Muni | IVZ | 226,441 | $5.5M | 0.07% |
| 125 | iShares 1-5 Year Investment Gr | 464288646 | 103,124 | $5.3M | 0.07% |
| 126 | Main Street Capital Corp. | 56035L104 | 111,000 | $5.3M | 0.07% |
| 127 | Blackstone Secured Lending Fun | BX | 160,000 | $5.0M | 0.07% |
| 128 | iShares US Aerospace & Defense | 464288760 | 37,144 | $4.9M | 0.07% |
| 129 | New Mountain Finance Corp. | 647551100 | 353,000 | $4.5M | 0.06% |
| 130 | Golub Capital BDC Inc. | 38173M102 | 260,000 | $4.3M | 0.06% |
| 131 | Sixth Street Specialty Lending | TSLX | 197,000 | $4.2M | 0.06% |
| 132 | TripAdvisor Inc. | TRIP | 148,729 | $4.1M | 0.06% |
| 133 | PennantPark Investment Corp. | 708062104 | 600,000 | $4.1M | 0.06% |
| 134 | iShares iBonds Dec 2027 Term C | 46435UAA9 | 170,586 | $4.1M | 0.05% |
| 135 | Stewart Information Services C | 860372101 | 60,535 | $3.9M | 0.05% |
| 136 | UFP Technologies Inc. | UFPT | 14,946 | $3.8M | 0.05% |
| 137 | iShares iBonds Dec 2025 Term C | 46434VBD1 | 150,343 | $3.7M | 0.05% |
| 138 | Kadant Inc. | KAI | 11,247 | $3.7M | 0.05% |
| 139 | SPDR Energy Select Sector ETF | 81369Y506 | 39,024 | $3.7M | 0.05% |
| 140 | RBC Bearings Inc. | RBC | 13,442 | $3.6M | 0.05% |
| 141 | Barings BDC Inc. | BBDC | 390,000 | $3.6M | 0.05% |
| 142 | Cavco Industries Inc. | 149568107 | 9,054 | $3.6M | 0.05% |
| 143 | SPDR Nuveen Barclays Capital S | 78468R739 | 75,554 | $3.6M | 0.05% |
| 144 | Invesco BulletShares 2024 Muni | IVZ | 142,489 | $3.5M | 0.05% |
| 145 | BlackRock TCP Capital Corp. | TCPC | 332,000 | $3.5M | 0.05% |
| 146 | SPDR Portfolio Developed World | 78463X889 | 89,434 | $3.2M | 0.04% |
| 147 | Winnebago Industries Inc. | 974637100 | 43,120 | $3.2M | 0.04% |
| 148 | Berkshire Hathaway Inc. - A | BRK-A | 5 | $3.2M | 0.04% |
| 149 | Amplify Cyber Security ETF | 032108664 | 49,152 | $3.2M | 0.04% |
| 150 | Ares Capital Corp. | ARCC | 150,000 | $3.1M | 0.04% |
| 151 | Sapiens International Corp NV | G7T16G103 | 93,960 | $3.0M | 0.04% |
| 152 | Invesco BulletShares 2029 Muni | IVZ | 125,525 | $2.9M | 0.04% |
| 153 | Hayward Holdings Inc. | HAYW | 184,037 | $2.8M | 0.04% |
| 154 | Edgewell Personal Care Co. | 28035Q102 | 72,598 | $2.8M | 0.04% |
| 155 | Franklin Street Properties Cor | 35471R106 | 1,231,656 | $2.8M | 0.04% |
| 156 | BRP Group Inc. | BWIN | 96,038 | $2.8M | 0.04% |
| 157 | John B Sanfilippo & Son Inc. | JBSS | 25,775 | $2.7M | 0.04% |
| 158 | Ecovyst Inc. | ECVT | 239,537 | $2.7M | 0.04% |
| 159 | Annaly Capital Management Inc. | NLY-PJ | 135,000 | $2.7M | 0.04% |
| 160 | John Bean Technologies Corp. | JBTM | 25,051 | $2.6M | 0.04% |
| 161 | i3 Verticals Inc. | IIIV | 114,551 | $2.6M | 0.04% |
| 162 | Hagerty Inc. | HGTY | 284,633 | $2.6M | 0.04% |
| 163 | Allient Inc. | ALNT | 72,856 | $2.6M | 0.03% |
| 164 | Movado Group Inc. | MOVAA | 90,849 | $2.5M | 0.03% |
| 165 | SLR Investment Corp. | SLRC | 161,000 | $2.5M | 0.03% |
| 166 | SJW Group | HTO | 43,541 | $2.5M | 0.03% |
| 167 | abrdn Physical Silver Shares E | SIVR | 100,782 | $2.4M | 0.03% |
| 168 | Cannae Holdings Inc. | CNNE | 107,571 | $2.4M | 0.03% |
| 169 | MGP Ingredients Inc. | MGPI | 27,100 | $2.3M | 0.03% |
| 170 | Blue Owl Capital Corp. | OWL | 150,000 | $2.3M | 0.03% |
| 171 | Healthcare Services Group Inc. | 421906108 | 180,984 | $2.3M | 0.03% |
| 172 | Marten Transport Ltd. | MRTN | 121,751 | $2.2M | 0.03% |
| 173 | Perficient Inc. | 71375U101 | 38,826 | $2.2M | 0.03% |
| 174 | iShares National Muni Bond ETF | 464288414 | 19,761 | $2.1M | 0.03% |
| 175 | Goldman Sachs BDC Inc. | GSBD | 135,000 | $2.0M | 0.03% |
| 176 | Core Laboratories N.V. | CLB | 116,656 | $2.0M | 0.03% |
| 177 | Franklin FTSE Japan ETF | FGDL | 64,144 | $2.0M | 0.03% |
| 178 | Berkshire Hathaway Inc. - B | BRK-A | 4,500 | $1.9M | 0.03% |
| 179 | American Outdoor Brands Inc. | AOUT | 207,740 | $1.8M | 0.02% |
| 180 | Nuveen Churchill Direct Lendin | 67090S108 | 100,000 | $1.8M | 0.02% |
| 181 | Capital Southwest Corp. | CSWC | 71,000 | $1.8M | 0.02% |
| 182 | iShares iBonds Dec 2026 Term M | 46435U259 | 69,218 | $1.8M | 0.02% |
| 183 | Bain Capital Specialty Finance | 05684B107 | 100,000 | $1.6M | 0.02% |
| 184 | CyberArk Software Ltd. | M2682V108 | 5,544 | $1.5M | 0.02% |
| 185 | Blackstone Group LP | BX | 11,000 | $1.4M | 0.02% |
| 186 | Taiwan Semiconductor Manufactu | 874039100 | 10,554 | $1.4M | 0.02% |
| 187 | Novo Nordisk A.S. | NONOF | 10,844 | $1.4M | 0.02% |
| 188 | ICON plc | ICLR | 3,851 | $1.3M | 0.02% |
| 189 | Rheinmetall AG | RH | 10,795 | $1.2M | 0.02% |
| 190 | Golub Capital BDC Inc. | 38173M102 | 71,284 | $1.2M | 0.02% |
| 191 | Agnico Eagle Mines Ltd. | AEM | 18,816 | $1.1M | 0.02% |
| 192 | Accenture plc | ACN | 3,144 | $1.1M | 0.01% |
| 193 | Gates Industrial Corp. plc | G39108108 | 61,406 | $1.1M | 0.01% |
| 194 | TripAdvisor Inc. | TRIP | 39,043 | $1.1M | 0.01% |
| 195 | Cavco Industries Inc. | 149568107 | 2,672 | $1.1M | 0.01% |
| 196 | Rio Tinto plc | RTNTF | 16,469 | $1.0M | 0.01% |
| 197 | AGNC Investment Corp. | AGNCZ | 105,000 | $1.0M | 0.01% |
| 198 | Barings BDC Inc. | BBDC | 111,683 | $1.0M | 0.01% |
| 199 | UFP Technologies Inc. | UFPT | 4,078 | $1.0M | 0.01% |
| 200 | Brown & Brown Inc. | BRO | 11,539 | $1.0M | 0.01% |
| 201 | Shell plc | RYDAF | 14,803 | $992,393 | 0.01% |
| 202 | Sixth Street Specialty Lending | TSLX | 46,228 | $990,666 | 0.01% |
| 203 | AerCap Holdings N.V. | AER | 11,308 | $982,778 | 0.01% |
| 204 | Stewart Information Services C | 860372101 | 15,041 | $978,567 | 0.01% |
| 205 | OFS Capital Corp. | OFSSO | 98,000 | $973,140 | 0.01% |
| 206 | L'Oreal S.A. | 502117203 | 10,154 | $962,599 | 0.01% |
| 207 | Wal-Mart de Mexico S.A.B. de C | 93114W107 | 23,366 | $950,996 | 0.01% |
| 208 | Zurich Insurance Group A.G. | 989825104 | 17,462 | $946,964 | 0.01% |
| 209 | Morningstar Inc. | MORN | 3,060 | $943,612 | 0.01% |
| 210 | Mitsubishi UFJ Financial | 606822104 | 92,156 | $942,756 | 0.01% |
| 211 | Cameco Corp. | CCJ | 21,704 | $940,217 | 0.01% |
| 212 | Kadant Inc. | KAI | 2,838 | $931,148 | 0.01% |
| 213 | Ecovyst Inc. | ECVT | 81,585 | $909,673 | 0.01% |
| 214 | Willis Towers Watson plc | WTW | 3,307 | $909,425 | 0.01% |
| 215 | iShares iBonds Dec 2024 Term M | 46435U697 | 35,005 | $908,380 | 0.01% |
| 216 | Azek Co. Inc. | 05478C105 | 17,841 | $895,975 | 0.01% |
| 217 | SAP S.E. | SAPGF | 4,569 | $891,092 | 0.01% |
| 218 | Blackstone Secured Lending Fun | BX | 28,309 | $881,825 | 0.01% |
| 219 | Hagerty Inc. | HGTY | 94,918 | $868,500 | 0.01% |
| 220 | Hercules Capital Inc. | HCXY | 46,673 | $861,117 | 0.01% |
| 221 | Main Street Capital Corp. | 56035L104 | 18,143 | $858,345 | 0.01% |
| 222 | i3 Verticals Inc. | IIIV | 36,651 | $838,941 | 0.01% |
| 223 | Portman Ridge Finance Corp. | BCIC | 44,000 | $835,120 | 0.01% |
| 224 | TotalEnergies S.E. | TTE | 12,088 | $832,017 | 0.01% |
| 225 | John B Sanfilippo & Son Inc. | JBSS | 7,779 | $823,952 | 0.01% |
| 226 | RBC Bearings Inc. | RBC | 3,037 | $821,053 | 0.01% |
| 227 | Palmer Square Capital BDC Inc. | PSBD | 50,000 | $814,500 | 0.01% |
| 228 | BRP Group Inc. | BWIN | 28,083 | $812,722 | 0.01% |
| 229 | Winnebago Industries Inc. | 974637100 | 10,953 | $810,522 | 0.01% |
| 230 | ING Groep N.V. | INGVF | 48,934 | $806,922 | 0.01% |
| 231 | Edgewell Personal Care Co. | 28035Q102 | 20,802 | $803,789 | 0.01% |
| 232 | Spectrum Brands Holdings Inc. | SPB | 9,005 | $801,535 | 0.01% |
| 233 | Hayward Holdings Inc. | HAYW | 51,484 | $788,220 | 0.01% |
| 234 | Sapiens International Corp NV | G7T16G103 | 24,415 | $785,186 | 0.01% |
| 235 | Brookfield Asset Management | 113004105 | 18,628 | $782,749 | 0.01% |
| 236 | Southern Copper Corp. | SCCO | 7,342 | $782,070 | 0.01% |
| 237 | LVMH Moet Hennessy Louis Vuitt | 502441306 | 4,319 | $781,869 | 0.01% |
| 238 | iShares iBonds Dec 2027 Term M | 46435U283 | 30,934 | $778,609 | 0.01% |
| 239 | DBS Group Holdings Ltd. | 23304y100 | 7,300 | $778,034 | 0.01% |
| 240 | New Mountain Finance Corp. | 647551100 | 61,282 | $776,443 | 0.01% |
| 241 | iShares iBonds Dec 2025 Term M | 46435U432 | 29,090 | $769,721 | 0.01% |
| 242 | Goldman Sachs BDC Inc. | GSBD | 50,987 | $763,785 | 0.01% |
| 243 | Sandoz Group | 799926100 | 25,227 | $759,333 | 0.01% |
| 244 | John Bean Technologies Corp. | JBTM | 7,230 | $758,355 | 0.01% |
| 245 | Blue Owl Capital Corp. | OWL | 48,966 | $753,097 | 0.01% |
| 246 | Nintendo Co. Ltd. | NODK | 54,961 | $746,920 | 0.01% |
| 247 | Allient Inc. | ALNT | 20,925 | $746,604 | 0.01% |
| 248 | J & J Snack Foods Corp. | JJSF | 5,149 | $744,339 | 0.01% |
| 249 | DSV A.S. | 26251A108 | 9,147 | $742,791 | 0.01% |
| 250 | Chugai Pharms Co Ltd | 171269103 | 38,730 | $740,905 | 0.01% |
| 251 | SJW Group | HTO | 13,047 | $738,330 | 0.01% |
| 252 | Marten Transport Ltd. | MRTN | 39,941 | $738,110 | 0.01% |
| 253 | Crescent Capital BDC Inc. | 225655109 | 42,565 | $734,677 | 0.01% |
| 254 | FS KKR Capital Corp. | FSK | 38,500 | $734,195 | 0.01% |
| 255 | Mitsui & Co. Ltd. | 606827202 | 776 | $727,865 | 0.01% |
| 256 | Movado Group Inc. | MOVAA | 26,056 | $727,744 | 0.01% |
| 257 | ITOCHU Corp. | ITOCF | 8,387 | $717,592 | 0.01% |
| 258 | BNP Paribas S.A. | 05565A202 | 20,036 | $716,087 | 0.01% |
| 259 | Diamondback Energy Inc. | FANG | 3,609 | $715,196 | 0.01% |
| 260 | Sony Group Corp. | SNEJF | 8,293 | $711,042 | 0.01% |
| 261 | BlackRock TCP Capital Corp. | TCPC | 67,998 | $709,219 | 0.01% |
| 262 | Trinity Capital Inc. | TRINZ | 48,000 | $704,640 | 0.01% |
| 263 | Perficient Inc. | 71375U101 | 12,441 | $700,304 | 0.01% |
| 264 | Shopify Inc. | SHOP | 9,058 | $699,006 | 0.01% |
| 265 | Haleon plc | HLNCF | 82,071 | $696,783 | 0.01% |
| 266 | MGP Ingredients Inc. | MGPI | 8,028 | $691,452 | 0.01% |
| 267 | Southwestern Energy Co. | 845467109 | 87,087 | $660,119 | 0.01% |
| 268 | ConocoPhillips | COP | 5,121 | $651,801 | 0.01% |
| 269 | SMC Corp. | 78445W306 | 22,294 | $628,245 | 0.01% |
| 270 | Chesapeake Energy Corp. | EXE | 7,014 | $623,054 | 0.01% |
| 271 | Cannae Holdings Inc. | CNNE | 27,876 | $619,962 | 0.01% |
| 272 | Capital Southwest Corp. | CSWC | 24,774 | $618,359 | 0.01% |
| 273 | Antofagasta PLC ADR | G0398N128 | 23,775 | $607,451 | 0.01% |
| 274 | Pioneer Natural Resources Co. | 723787107 | 2,195 | $576,176 | 0.01% |
| 275 | Freeport-McMoRan Inc. | FCX | 12,118 | $569,788 | 0.01% |
| 276 | Exxon Mobil Corp. | XOM | 4,880 | $567,251 | 0.01% |
| 277 | Seabridge Gold Inc. | SA | 37,377 | $565,140 | 0.01% |
| 278 | iShares Gold Trust ETF | IAU | 13,300 | $558,733 | 0.01% |
| 279 | American Express Co. | AXP | 2,405 | $547,594 | 0.01% |
| 280 | Uranium Energy Corp. | UEC | 80,504 | $543,402 | 0.01% |
| 281 | Oaktree Specialty Lending Corp | OCSL | 27,532 | $541,279 | 0.01% |
| 282 | Franco-Nevada Corp. | FNV | 4,512 | $537,650 | 0.01% |
| 283 | Komatsu Ltd. | 500458401 | 18,137 | $536,311 | 0.01% |
| 284 | Coterra Energy Inc. | CTRA | 19,185 | $534,878 | 0.01% |
| 285 | Wheaton Precious Metals Corp. | WPM | 11,282 | $531,721 | 0.01% |
| 286 | Royal Gold Inc. | RGLD | 4,281 | $521,469 | 0.01% |
| 287 | Hess Corp. | HESM | 3,413 | $520,960 | 0.01% |
| 288 | Antero Resources Corp. | AR | 17,883 | $518,607 | 0.01% |
| 289 | Core Laboratories N.V. | CLB | 29,392 | $502,015 | 0.01% |
| 290 | MakeMyTrip Ltd. | MMYT | 7,060 | $501,613 | 0.01% |
| 291 | CAE Inc. | CAE | 24,241 | $500,334 | 0.01% |
| 292 | POSCO Holdings Inc. | PKX | 6,235 | $488,914 | 0.01% |
| 293 | American Outdoor Brands Inc. | AOUT | 55,162 | $485,426 | 0.01% |
| 294 | Denison Mines Corp. | DNN | 246,945 | $481,543 | 0.01% |
| 295 | Woodside Energy Group Ltd. | WOPEF | 23,939 | $478,062 | 0.01% |
| 296 | Crescent Capital BDC Inc. | 225655109 | 26,950 | $465,157 | 0.01% |
| 297 | Materion Corp. | MTRN | 3,513 | $462,838 | 0.01% |
| 298 | Alphabet Inc. | GOOG | 2,843 | $429,094 | 0.01% |
| 299 | Vista Energy S.A.B. de C.V. | VSOGF | 10,339 | $427,828 | 0.01% |
| 300 | Glencore plc | GLCNF | 38,401 | $420,491 | 0.01% |
| 301 | Barrick Gold Corp. | 067901108 | 25,117 | $417,947 | 0.01% |
| 302 | BHP Billiton Ltd. | BHPLF | 7,224 | $416,753 | 0.01% |
| 303 | Fomento Economico Mexicano S.A | 344419106 | 3,077 | $400,869 | 0.01% |
| 304 | Roche Holding A.G. | 771195104 | 12,463 | $397,819 | 0.01% |
| 305 | Bank of America Corp. | 060505104 | 10,000 | $379,200 | 0.01% |
| 306 | Newmont Mining Corp. | NEMCL | 10,050 | $360,182 | 0.00% |
| 307 | Mosaic Co. | MOS | 10,848 | $352,126 | 0.00% |
| 308 | Alcoa Corp. | AA | 10,401 | $351,450 | 0.00% |
| 309 | SLR Investment Corp. | SLRC | 22,802 | $350,007 | 0.00% |
| 310 | MercadoLibre Inc. | MELI | 229 | $346,239 | 0.00% |
| 311 | Invesco BulletShares 2032 Munc | IVZ | 13,011 | $331,976 | 0.00% |
| 312 | Invesco Bulletshares 2033 Muni | IVZ | 12,404 | $325,481 | 0.00% |
| 313 | iShares iBonds Dec 2029 Term M | 46436E163 | 12,886 | $325,307 | 0.00% |
| 314 | Invesco BulletShares 2030 Muni | IVZ | 14,073 | $311,295 | 0.00% |
| 315 | Gold Fields Ltd. | GFIOF | 19,531 | $310,348 | 0.00% |
| 316 | iShares iBonds Dec 2028 Term M | 46435U325 | 12,189 | $308,016 | 0.00% |
| 317 | Grupo Financiero Banorte S.A.B | 40052P107 | 5,639 | $302,814 | 0.00% |
| 318 | Curtiss-Wright Corp. | CW | 1,160 | $296,890 | 0.00% |
| 319 | KB Financial Group Inc. | KB | 5,515 | $287,145 | 0.00% |
| 320 | Coca-Cola Femsa SAB de CV | COCSF | 2,937 | $285,476 | 0.00% |
| 321 | ICICI Bank Ltd. | IBN | 10,793 | $285,043 | 0.00% |
| 322 | PennantPark Investment Corp. | 708062104 | 41,310 | $284,213 | 0.00% |
| 323 | NVIDIA Corp. | NVDA | 308 | $278,562 | 0.00% |
| 324 | Portman Ridge Finance Corp. | BCIC | 14,604 | $277,182 | 0.00% |
| 325 | Kemper Corp. | KMPB | 4,470 | $276,782 | 0.00% |
| 326 | Dr Reddy's Laboratories Ltd. | 256135203 | 3,730 | $273,595 | 0.00% |
| 327 | Bain Capital Specialty Finance | 05684B107 | 17,336 | $271,828 | 0.00% |
| 328 | Sociedad Quimica y Minera de C | 833635105 | 5,293 | $260,204 | 0.00% |
| 329 | Localiza Rent a Car S.A. | 53956W300 | 22,473 | $255,518 | 0.00% |
| 330 | Shinhan Financial Group Co. Lt | SHG | 6,908 | $245,165 | 0.00% |
| 331 | Techtronic Industries Co. Ltd. | 87873R101 | 3,462 | $235,364 | 0.00% |
| 332 | Markel Corp. Inc. | MKL | 150 | $228,222 | 0.00% |
| 333 | FS KKR Capital Corp. | FSK | 11,954 | $227,963 | 0.00% |
| 334 | Betterware de Mexico SAPI de C | P1666E105 | 11,170 | $223,177 | 0.00% |
| 335 | Controladora Vuela Cia de Avia | 21240E105 | 28,464 | $211,203 | 0.00% |
| 336 | Ameriprise Financial Inc. | 03076C106 | 480 | $210,451 | 0.00% |
| 337 | Safran S.A. | 786584102 | 3,661 | $207,396 | 0.00% |
| 338 | Tencent Holdings Ltd. | XHLD | 5,310 | $207,249 | 0.00% |
| 339 | Oaktree Specialty Lending Corp | OCSL | 10,000 | $196,600 | 0.00% |
| 340 | Arcos Dorados Holdings Inc. | ARCO | 17,263 | $191,965 | 0.00% |
| 341 | Infosys Ltd. | INFY | 10,541 | $188,997 | 0.00% |
| 342 | Ecopetrol S.A. | EC | 15,362 | $181,886 | 0.00% |
| 343 | Sendas Distribuidora S.A. | 81689T104 | 11,598 | $171,418 | 0.00% |
| 344 | Vale S.A. | VALE | 13,317 | $162,334 | 0.00% |
| 345 | PT Astra International Tbk | 69367X109 | 22,744 | $149,478 | 0.00% |
| 346 | Pagseguro Digital Ltd. | PAGS | 10,440 | $149,083 | 0.00% |
| 347 | JBS S.A. | 466110103 | 15,598 | $132,583 | 0.00% |
| 348 | Trinity Capital Inc. | TRINZ | 8,893 | $130,549 | 0.00% |
| 349 | Ping An Insurance Group Co. of | 72341E304 | 13,287 | $113,205 | 0.00% |
| 350 | Nuveen Churchill Direct Lendin | 67090S108 | 3,017 | $54,487 | 0.00% |
| 351 | Bank of America Corp. | 060505104 | 789 | $29,919 | 0.00% |
| 352 | AGNC Investment Corp. | AGNCZ | 1,958 | $19,384 | 0.00% |
| 353 | Annaly Capital Management Inc. | NLY-PJ | 648 | $12,759 | 0.00% |