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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 2  ·  29 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 GAIN Gladstone Investment Corp. Financial Services 36,982.0 $572K 0.01% NEW $15.46 +6.2%
22 Blue Owl Technology Finance 31,100.0 $322K 0.01% NEW $10.35
23 ERO ERO Copper Corp. Basic Materials 11,428.0 $305K 0.01% NEW $26.70 +49.4%
24 NU NU Holdings Ltd Financial Services 21,385.0 $286K 0.00% NEW $13.36 +11.0%
25 MMYT MakeMyTrip Ltd. Consumer Cyclical 4,680.0 $249K 0.00% NEW $53.29 +15.1%
26 WCN Waste Connections Inc. Industrials 1,244.0 $207K 0.00% NEW $166.69 -0.0%
27 NVDA NVIDIA Corp. Technology 1,013.0 $203K 0.00% NEW $200.09 +6.1%
28 Ping An Insurance Group Co. of 12,029.0 $157K 0.00% NEW $13.05
29 PAGS Pagseguro Digital Ltd. Technology 13,835.0 $125K 0.00% NEW $9.05 -2.8%
Page 2 of 2  ·  29 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%