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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 2 of 6  ·  103 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 MAIN Main Street Capital Corp. Financial Services 93,486.0 $4.9M 0.08% +3K +2.8% $51.88 +12.8%
22 HTGC Hercules Capital Inc. Financial Services 276,182.0 $4.4M 0.07% +3K +1.0% $15.77 +11.5%
23 TSLX Sixth Street Specialty Lending Financial Services 211,954.0 $3.6M 0.06% +4K +2.0% $17.17 +10.6%
24 BXSL Blackstone Secured Lending Fun Financial Services 146,606.0 $3.5M 0.05% +3K +1.8% $23.71 +4.7%
25 Blue Owl Capital Corp. 263,324.0 $2.9M 0.04% +39K +17.4% $10.87
26 IBMR iShares iBonds Dec 2029 Term M 87,480.0 $2.2M 0.04% +771.0 +0.9% $25.39 -0.3%
27 CNR Core Natural Resources Inc. Energy 23,555.0 $1.9M 0.03% +1K +6.2% $80.02 +21.2%
28 Techtronic Industries Co. Ltd. 22,118.0 $1.8M 0.03% +575.0 +2.7% $83.40
29 WDS Woodside Energy Group Ltd. Energy 90,282.0 $1.7M 0.03% +3K +3.6% $19.32 +18.3%
30 VIST Vista Energy S.A.B. de C.V. Energy 27,270.0 $1.7M 0.03% +443.0 +1.6% $63.80 +7.2%
31 Lundin Mining Corp. 69,752.0 $1.7M 0.03% +2K +2.5% $24.32
32 SCCO Southern Copper Corp. Basic Materials 9,672.0 $1.7M 0.03% +350.0 +3.8% $174.27 +26.1%
33 Amglo Am PLC ADR 65,991.0 $1.6M 0.03% +3K +4.2% $24.71
34 Glencore plc 119,809.0 $1.6M 0.03% +3K +2.3% $13.61
35 CVE Cenovus Energy Inc. Energy 64,557.0 $1.6M 0.03% +830.0 +1.3% $24.81 +24.1%
36 First Quantum Minerals Ltd. 58,484.0 $1.6M 0.03% +2K +4.2% $27.28
37 UFPI UFP Industries Inc. Basic Materials 16,254.0 $1.5M 0.02% +3K +26.0% $90.74 -2.2%
38 NEM Newmont Mining Corp. Basic Materials 15,538.0 $1.5M 0.02% +471.0 +3.1% $93.40 +44.7%
39 ESAB ESAB Corp. Industrials 14,709.0 $1.5M 0.02% +3K +24.5% $98.63 -18.5%
40 Hong Kong Exchanges and Cleari 30,787.0 $1.4M 0.02% +1K +4.1% $46.28
Page 2 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%