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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 3 of 8  ·  141 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
41 NXPI NXP Semiconductors N.V. Technology 151,365.0 $42.5M 0.67% -68K -31.1% $281.03 -20.1%
42 LOW Lowe's Co. Inc. Consumer Cyclical 192,874.0 $42.5M 0.66% -17K -8.2% $220.49 -2.5%
43 GGG Graco Inc. Industrials 549,102.0 $41.5M 0.65% -37K -6.2% $75.61 +4.5%
44 GOOG Alphabet Inc. 115,450.0 $40.8M 0.64% -57K -33.2% $353.33
45 Carrier Global Corp. 472,778.0 $34.7M 0.54% -38K -7.5% $73.35
46 ACGL Arch Capital Group Ltd. Financial Services 333,833.0 $32.4M 0.51% -30K -8.3% $97.06 +3.6%
47 Brown-Forman Corp. - B 1,152,060.0 $30.7M 0.48% -86K -6.9% $26.65
48 MLM Martin Marietta Materials Inc. Basic Materials 52,207.0 $30.1M 0.47% -5K -8.2% $576.70 -7.3%
49 MBB iShares MBS ETF 303,528.0 $28.7M 0.45% -29K -8.8% $94.52 -0.9%
50 MORN Morningstar Inc. Financial Services 166,257.0 $25.9M 0.41% -11K -6.4% $156.02 +38.1%
51 BRO Brown & Brown Inc. Financial Services 386,030.0 $24.8M 0.39% -19K -4.6% $64.15 +14.4%
52 EXPD Expeditors International of Wa Industrials 148,269.0 $24.2M 0.38% -12K -7.7% $162.98 +15.0%
53 IBTO iShares iBonds Dec 2033 Term T 988,431.0 $23.9M 0.37% -93K -8.6% $24.13 -1.0%
54 GD General Dynamics Corp. Industrials 65,990.0 $23.4M 0.36% -5K -6.9% $354.24 +6.2%
55 ECL Ecolab Inc. Basic Materials 83,581.0 $23.3M 0.36% -6K -6.6% $278.61 +2.5%
56 TTC Toro Co. Industrials 233,646.0 $22.8M 0.36% -17K -6.9% $97.42 +1.6%
57 KEYS Keysight Technologies Inc. Technology 64,599.0 $22.6M 0.35% -115K -64.0% $350.07 -9.0%
58 DCI Donaldson Co. Inc. Industrials 247,292.0 $22.2M 0.35% -18K -6.9% $89.77 +3.3%
59 STZ Constellation Brands Consumer Defensive 159,566.0 $22.2M 0.35% -12K -7.0% $139.09 -3.2%
60 iShares iBonds Dec 2031 Term T 1,098,504.0 $22.2M 0.35% -104K -8.7% $20.19
Page 3 of 8  ·  141 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%