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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 4 of 8  ·  141 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
61 NJR New Jersey Resources Corp. Utilities 387,609.0 $21.7M 0.34% -29K -7.0% $56.04 -4.0%
62 SHW Sherwin-Williams Co. Basic Materials 62,256.0 $21.4M 0.34% -4K -6.3% $344.32 +1.8%
63 RLI RLI Corp. Financial Services 360,253.0 $21.3M 0.33% -22K -5.7% $59.07 +9.9%
64 APH Amphenol Corp. Technology 118,987.0 $21.0M 0.33% -67K -35.9% $176.32 -9.9%
65 CRL Charles River Laboratories Int Healthcare 91,632.0 $20.8M 0.33% -9K -8.8% $226.79 +31.2%
66 EOG EOG Resources Inc. Energy 154,361.0 $20.0M 0.31% -11K -6.8% $129.73 +13.2%
67 AOS A. O. Smith Corp. Industrials 312,013.0 $19.6M 0.31% -7K -2.2% $62.72 -0.9%
68 RMD ResMed Inc. Healthcare 94,086.0 $18.3M 0.29% -6K -5.8% $194.88 +21.4%
69 MCD McDonald's Corp. Consumer Cyclical 65,853.0 $17.8M 0.28% -4K -5.8% $270.31 -0.8%
70 TREX Trex Company Inc. Industrials 354,325.0 $17.7M 0.28% -36K -9.3% $50.04 -6.4%
71 PG Procter & Gamble Co. Consumer Defensive 116,816.0 $17.1M 0.27% -7K -5.3% $146.64 -0.8%
72 iShares iBonds Dec 2032 Term T 735,847.0 $16.7M 0.26% -68K -8.5% $22.70
73 DLTR Dollar Tree Inc. Consumer Defensive 134,143.0 $16.2M 0.25% -12K -8.2% $120.95 +11.2%
74 VVV Valvoline Inc. Energy 396,145.0 $15.7M 0.24% -35K -8.2% $39.54 -16.8%
75 MDT Medtronic plc Healthcare 195,240.0 $15.3M 0.24% -10K -5.0% $78.23 +16.5%
76 BDX Becton Dickinson & Co. Healthcare 89,902.0 $13.6M 0.21% -4K -3.9% $151.33 +25.4%
77 NKE NIKE Inc. Consumer Cyclical 279,383.0 $11.5M 0.18% -3K -1.1% $41.05 -3.8%
78 DIS Walt Disney Co. Communication Services 113,021.0 $10.9M 0.17% -10K -8.2% $96.25 +15.6%
79 VNT Vontier Corp. Technology 365,615.0 $10.6M 0.17% -19K -4.9% $29.00 +15.1%
80 DFNM Dimensional National Municipal 189,628.0 $9.2M 0.14% -16K -7.7% $48.34 -1.4%
Page 4 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%