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Portfolio (Quarterly) Guide ↗

CONFLUENCE INVESTMENT MANAGEMENT LLC

· CIK 0001442056
13F Portfolio $6.4B AUM 422 positions Filed Jul 1, 2026 EDGAR ↗ ← All Funds
Q2 2026 Q1 2026 · All 29 New 103 Added 141 Reduced 22 Exited
Page 1 of 6  ·  103 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 SGOV iShares 0-3 Month Treasury Bon 2,788,012.0 $280.7M 4.38% +1.0M +59.0% $100.67 -0.0%
2 CLX Clorox Co. Consumer Defensive 1,247,644.0 $119.1M 1.86% +315K +33.8% $95.44 +10.3%
3 SPYG SPDR Portfolio S&P 500 Growth 573,709.0 $68.3M 1.07% +45K +8.6% $118.99 +1.0%
4 SYK Stryker Corp. Healthcare 212,000.0 $66.7M 1.04% +4K +1.9% $314.84 +5.0%
5 SPDR Portfolio S&P 500 Value E 1,047,254.0 $63.7M 0.99% +257K +32.5% $60.79
6 SPGI S&P Global Inc. Financial Services 141,607.0 $57.7M 0.90% +7K +5.5% $407.26 +6.4%
7 TMO Thermo Fisher Scientific Inc. Healthcare 92,781.0 $46.5M 0.73% +3K +2.9% $501.36 +25.1%
8 GLDM SPDR Gold MiniShares Trust ETF Financial Services 522,617.0 $41.5M 0.65% +190K +57.0% $79.42 +15.6%
9 BKNG Booking Holdings Inc. Consumer Cyclical 194,765.0 $34.7M 0.54% +189K +3070.5% $178.24 +19.6%
10 TLH iShares Barclays 10-20 Year Tr 335,581.0 $33.7M 0.53% +130K +63.0% $100.35 -2.5%
11 ZTS Zoetis Inc. Healthcare 465,449.0 $33.4M 0.52% +324K +228.1% $71.86 +6.6%
12 IBTQ iShares iBonds Dec 2035 Term T 1,044,548.0 $26.2M 0.41% +237K +29.3% $25.09 -1.4%
13 IBTP iShares iBonds Dec 2034 Term T 965,101.0 $24.5M 0.38% +46K +5.0% $25.38 -1.1%
14 SDY SPDR S&P Dividend ETF 132,295.0 $20.1M 0.32% +64K +92.5% $152.18 +4.0%
15 IEUR iShares Core MSCI Europe ETF 229,242.0 $17.2M 0.27% +12K +5.5% $75.17 +4.5%
16 SHLD Global X Defense Tech ETF 262,921.0 $15.7M 0.24% +140K +113.3% $59.71 +10.0%
17 AVDV Avantis International Small Ca 125,698.0 $13.0M 0.20% +5K +4.0% $103.05 +9.1%
18 PICK iShares MSCI Global Metals & M 152,199.0 $8.9M 0.14% +8K +5.7% $58.15 +14.2%
19 GDX VanEck Gold Miners ETF 70,315.0 $5.3M 0.08% +7K +10.4% $75.45 +39.0%
20 IIIV i3 Verticals Inc. Technology 230,530.0 $4.9M 0.08% +110K +91.6% $21.36 -21.5%
Page 1 of 6  ·  103 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Financial Services 23.1%
Industrials 20.8%
Consumer Defensive 11.6%
Technology 10.9%
Utilities 7.9%
Healthcare 7.0%
Basic Materials 6.8%
Consumer Cyclical 6.0%
Energy 5.6%
Communication Services 0.2%