CONFLUENCE INVESTMENT MANAGEMENT LLC

CIK

1442056

Location

ST. LOUIS, MO

Portfolio Value

Mid $5,222,735,914

Diversification

Diversified

Filing Date

Global Rank

#6 / 295 ▲ 616

Top Industry

Utilities - Regulated Electric 7.8%

3Y Alpha vs SPY

-10.1%

Period ended 9 days ago

Filed Jul 1, 2026 · 8d

26 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+36.1%

SPY

+76.5%

Annualised alpha

-10.0%

Max drawdown

−14.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

198 positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

3.2%

+0.1 pts

Top 5

14.2%

−0.6 pts

Top 10

26.5%

−1.0 pts

HHI

173

Diversified−1

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	22.2%	$1,159,668,408	47
Industrials	18.4%	$960,683,724	28
Technology	12.3%	$639,841,795	24
Consumer Defensive	11.3%	$590,939,385	15
Utilities	10.1%	$527,535,790	5
Healthcare	6.7%	$351,924,570	16
Basic Materials	6.6%	$342,759,980	19
Consumer Cyclical	6.1%	$319,165,505	19
Energy	5.1%	$267,976,577	16
Unclassified	0.9%	$49,497,476	4
Communication Services	0.2%	$12,069,531	3
Real Estate	0.0%	$673,173	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
ZTS	Zoetis Inc.	+323,586	465,449	$33,447,164
CLX	Clorox Co /De/	+315,069	1,247,644	$119,075,143
GLDM	World Gold Trust	+189,643	522,617	$41,506,241
BKNG	Booking Holdings Inc.	+188,622	194,765	$34,714,913
IIIV	i3 Verticals, Inc.	+110,216	230,530	$4,924,120
PPLT	abrdn Platinum ETF Trust	+69,865	75,305	$1,064,058
OBDC	Blue Owl Capital Corp	+38,959	263,324	$2,936,062
SPGI	S&P Global Inc.	+7,327	141,607	$57,670,866
TRIN	Trinity Capital Inc.	+6,679	48,503	$867,717
VLRS	Controladora Vuela Compania de Aviacion, S.A.B. de C.V.	+4,527	30,676	$287,434
TSLX	Sixth Street Specialty Lending, Inc.	+4,164	211,954	$3,639,249
SYK	Stryker Corp	+3,941	212,000	$66,746,079
CCJ	Cameco Corp	+3,834	12,856	$1,309,512
ARCO	Arcos Dorados Holdings Inc.	+3,783	21,798	$175,691
UFPI	Ufp Industries Inc	+3,354	16,254	$1,474,886
CCAP	Crescent Capital BDC, Inc.	+3,187	35,410	$386,677
WDS	Woodside Energy Group Ltd	+3,136	90,282	$1,744,248
ESAB	ESAB Corp	+2,892	14,709	$1,433,025
JBS	Jbs N.V.	+2,845	19,326	$229,013
HTGC	Hercules Capital, Inc.	+2,839	276,182	$4,355,389
INFY	Infosys Ltd	+2,826	17,636	$185,001
TMO	Thermo Fisher Scientific Inc.	+2,630	92,781	$46,516,682
BXSL	Blackstone Secured Lending Fund	+2,559	146,606	$3,609,439
MAIN	Main Street Capital CORP	+2,528	93,486	$4,850,053
RDY	Dr Reddys Laboratories Ltd	+2,414	17,910	$259,515
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CSCO	Cisco Systems, Inc.	−699,159	841,787	$98,876,300
DEO	Diageo PLC	−576,498	776,936	$62,450,114
ADI	Analog Devices Inc	−247,250	293,390	$116,525,705
FAST	Fastenal Co	−136,984	2,829,738	$135,912,316
KMI	Kinder Morgan, Inc.	−120,189	3,368,817	$107,701,078
KEYS	Keysight Technologies, Inc.	−114,905	64,599	$21,972,057
WRB	Berkley W R Corp	−81,648	1,031,752	$73,264,709
ETR	Entergy Corp /De/	−72,663	1,156,624	$132,849,832
MDLZ	Mondelez International, Inc.	−68,524	2,044,332	$118,244,162
NXPI	NXP Semiconductors N.V.	−68,459	151,365	$42,538,105
ARCC	Ares Capital Corp	−67,709	3,367,580	$61,778,254
APH	Amphenol Corp /De/	−66,624	118,987	$20,979,787
CNMD	CONMED Corp	−63,475	30,055	$983,699
MAS	Masco Corp /De/	−59,924	768,680	$62,547,491
SO	Southern Co	−51,278	1,370,593	$131,179,455
USB	US Bancorp De	−49,485	1,734,918	$104,789,046
FNF	Fidelity National Financial, Inc.	−48,095	1,908,912	$90,024,289
WEC	Wec Energy Group, Inc.	−45,684	1,191,332	$139,111,837
KN	Knowles Corp	−41,917	35,005	$1,452,006
CL	Colgate Palmolive Co	−40,718	1,209,372	$110,875,224
MOV	Movado Group Inc	−40,400	34,155	$1,342,632
TJX	Tjx Companies Inc /De/	−39,658	406,868	$61,640,502
GGG	Graco Inc	−36,612	549,102	$41,517,601
TREX	Trex Co Inc	−36,316	354,325	$17,730,422
VVV	Valvoline Inc	−35,414	396,145	$15,711,110
No positions match the current search.

New Positions

Positions the filer opened this quarter

19 positions

Ticker	Company	Shares	Value
SWK	Stanley Black & Decker, Inc.	1,348,374	$126,908,960
ATR	Aptargroup, Inc.	160,935	$20,149,062
FND	Floor & Decor Holdings, Inc.	131,310	$7,686,886
RYAN	Ryan Specialty Holdings, Inc.	189,001	$7,136,677
STVN	Stevanato Group S.p.A.	335,493	$6,062,357
CF	CF Industries Holdings, Inc.	12,115	$1,311,569
BP	Bp PLC	35,263	$1,302,967
OXY	Occidental Petroleum Corp /De/	26,565	$1,290,262
CRH	Crh Public Ltd Co	11,823	$1,265,061
DVN	Devon Energy Corp/De	28,927	$1,214,644
BMI	Badger Meter Inc	5,290	$784,930
GAIN	Gladstone Investment Corporationde	36,982	$571,741
OTF	Blue Owl Technology Finance Corp.	31,100	$333,081
ERO	Ero Copper Corp.	11,428	$305,699
NU	Nu Holdings Ltd.	21,385	$285,703
MMYT	MakeMyTrip Ltd	4,680	$252,205
WCN	Waste Connections, Inc.	1,244	$207,362
NVDA	Nvidia Corp	1,013	$202,691
PAGS	PagSeguro Digital Ltd.	13,835	$125,206
No positions match the current search.

Sold Out

Positions the filer fully exited

21 positions

Ticker	Company	Shares	Value
HON	Honeywell International Inc	499,862	$118,493,786
CARR	CARRIER GLOBAL Corp	511,137	$28,782,123
SBUX	Starbucks Corp	315,131	$28,232,585
BWIN	Baldwin Insurance Group, Inc.	638,637	$14,011,695
BAESY	Bae Systems PLC /Fi/	13,305	$1,550,032
SPB	Spectrum Brands Holdings, Inc.	20,397	$1,503,258
FSK	FS KKR Capital Corp	147,605	$1,502,618
CTRA	Coterra Energy Inc.	39,307	$1,381,247
FCX	Freeport-Mcmoran Inc	22,870	$1,344,298
DNN	Denison Mines Corp.	313,086	$1,105,193
NXE	NexGen Energy Ltd.	90,230	$1,046,668
UEC	Uranium Energy Corp	76,801	$1,036,813
ENOV	Enovis CORP	39,936	$908,543
WGO	Winnebago Industries Inc	26,585	$823,868
SE	Sea Ltd	8,232	$681,691
GFI	Gold Fields Ltd	14,856	$674,462
KB	KB Financial Group Inc.	4,654	$464,143
IBN	Icici Bank Ltd	10,957	$283,786
IFNNY	Infineon Technologies AG	5,221	$236,041
COST	Costco Wholesale Corp /New	210	$209,250
RWAY	Runway Growth Finance Corp.	14,216	$97,663
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

198 positions · $5,222,735,914 total · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 198 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SNA	Snap-on Inc Industrials	Reduced	417,132	-18,764	$167,853,916	+6.0%	3.21%
CB	Chubb Ltd Financial Services	Reduced	460,772	-21,271	$157,003,450	−0.1%	3.01%
LIN	Linde PLC Basic Materials	Reduced	270,727	-12,345	$140,491,069	+0.1%	2.69%
WEC	Wec Energy Group, Inc. Utilities	Reduced	1,191,332	-45,684	$139,111,837	−2.9%	2.66%
FAST	Fastenal Co Industrials	Reduced	2,829,738	-136,984	$135,912,316	−1.3%	2.60%
ETR	Entergy Corp /De/ Utilities	Reduced	1,156,624	-72,663	$132,849,832	−3.8%	2.54%
LMT	Lockheed Martin Corp Industrials	Reduced	258,577	-11,063	$131,734,637	−19.2%	2.52%
SO	Southern Co Utilities	Reduced	1,370,593	-51,278	$131,179,455	−4.4%	2.51%
SWK	Stanley Black & Decker, Inc. Industrials	NEW	1,348,374	NEW	$126,908,960	NEW	2.43%
CVX	Chevron Corp Energy	Reduced	742,863	-29,380	$123,136,970	−22.9%	2.36%
PGR	Progressive Corp/Oh/ Financial Services	Reduced	557,408	-22,851	$121,765,776	+5.9%	2.33%
HSY	Hershey Co Consumer Defensive	Reduced	663,243	-27,106	$120,431,663	−16.1%	2.31%
CLX	Clorox Co /De/ Consumer Defensive	Added	1,247,644	+315,069	$119,075,143	+23.2%	2.28%
MDLZ	Mondelez International, Inc. Consumer Defensive	Reduced	2,044,332	-68,524	$118,244,162	−2.9%	2.26%
ADI	Analog Devices Inc Technology	Reduced	293,390	-247,250	$116,525,705	−32.3%	2.23%
NTRS	Northern Trust Corp Financial Services	Reduced	660,416	-19,844	$114,806,717	+20.9%	2.20%
CL	Colgate Palmolive Co Consumer Defensive	Reduced	1,209,372	-40,718	$110,875,224	+4.1%	2.12%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	311,263	-8,660	$109,776,234	+4.3%	2.10%
KMI	Kinder Morgan, Inc. Energy	Reduced	3,368,817	-120,189	$107,701,078	−7.9%	2.06%
TROW	Price T Rowe Group Inc Financial Services	Reduced	936,409	-26,758	$106,460,338	+22.6%	2.04%
GILD	Gilead Sciences, Inc. Healthcare	Reduced	832,632	-28,391	$105,194,726	−12.3%	2.01%
USB	US Bancorp De Financial Services	Reduced	1,734,918	-49,485	$104,789,046	+12.9%	2.01%
AWK	American Water Works Company, Inc. Utilities	Reduced	780,309	-29,649	$102,673,058	−6.9%	1.97%
CSCO	Cisco Systems, Inc. Technology	Reduced	841,787	-699,159	$98,876,300	−17.3%	1.89%
PAYX	Paychex Inc Technology	Reduced	952,424	-17,385	$93,651,850	+4.8%	1.79%
FNF	Fidelity National Financial, Inc. Financial Services	Reduced	1,908,912	-48,095	$90,024,289	−0.8%	1.72%
NDSN	Nordson Corp Industrials	Reduced	281,120	-27,147	$84,811,092	+3.4%	1.62%
WRB	Berkley W R Corp Financial Services	Reduced	1,031,752	-81,648	$73,264,709	−0.7%	1.40%
BR	Broadridge Financial Solutions, Inc. Technology	Reduced	523,341	-11,052	$72,398,993	−16.6%	1.39%
MA	Mastercard Inc Financial Services	Reduced	136,514	-10,020	$70,113,590	−4.2%	1.34%
SYK	Stryker Corp Healthcare	Added	212,000	+3,941	$66,746,079	−2.4%	1.28%
MAS	Masco Corp /De/ Industrials	Reduced	768,680	-59,924	$62,547,491	+25.0%	1.20%
DEO	Diageo PLC Consumer Defensive	Reduced	776,936	-576,498	$62,450,114	−38.0%	1.20%
ARCC	Ares Capital Corp Financial Services	Reduced	3,367,580	-67,709	$61,778,254	−0.2%	1.18%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Reduced	406,868	-39,658	$61,640,502	−13.6%	1.18%
APD	Air Products & Chemicals, Inc. Basic Materials	Reduced	202,897	-14,590	$59,485,341	−5.8%	1.14%
SPGI	S&P Global Inc. Financial Services	Added	141,607	+7,327	$57,670,866	+6.7%	1.10%
MSFT	Microsoft Corp Technology	Reduced	142,894	-5,717	$53,302,318	−3.1%	1.02%
ITW	Illinois Tool Works Inc Industrials	Reduced	193,034	-14,125	$52,209,905	−3.2%	1.00%
DOW	Dow Inc. Basic Materials	Reduced	1,850,660	-19,688	$50,634,056	−35.0%	0.97%
PAYC	Paycom Software, Inc. Technology	Reduced	374,387	-33,360	$47,052,957	−5.1%	0.90%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	92,781	+2,630	$46,516,682	+5.0%	0.89%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	86,570	-6,691	$43,095,411	−3.6%	0.83%
ACN	Accenture plc Technology	Added	341,854	+1,042	$42,540,311	−37.1%	0.81%
NXPI	NXP Semiconductors N.V. Technology	Reduced	151,365	-68,459	$42,538,105	−1.7%	0.81%
LOW	Lowes Companies Inc Consumer Cyclical	Reduced	192,874	-17,190	$42,526,787	−14.3%	0.81%
GGG	Graco Inc Industrials	Reduced	549,102	-36,612	$41,517,601	−16.3%	0.79%
GLDM	World Gold Trust	Added	522,617	+189,643	$41,506,241	+34.5%	0.79%
BKNG	Booking Holdings Inc. Consumer Cyclical	Added	194,765	+188,622	$34,714,913	+3255.5%	0.66%
ZTS	Zoetis Inc. Healthcare	Added	465,449	+323,586	$33,447,164	+99.5%	0.64%