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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 5 of 8  ·  141 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
81 CPRT Copart Inc. Industrials 292,941.0 $8.3M 0.13% -21K -6.7% $28.19 +18.2%
82 BSMY Invesco BulletShares 2034 Muni 303,465.0 $7.5M 0.12% -24K -7.4% $24.65 -2.6%
83 JBT Marel Corp. 49,946.0 $7.2M 0.11% -5K -9.4% $145.00
84 SPY SPDR S&P 500 ETF Financial Services 8,922.0 $6.7M 0.10% -3K -25.2% $746.77 +2.6%
85 iShares iBonds Dec 2030 Term T 322,898.0 $6.3M 0.10% -31K -8.7% $19.54
86 Invesco BulletShares 2031 Muni 290,826.0 $6.1M 0.10% -21K -6.6% $20.98
87 BSSX Invesco Bulletshares 2033 Muni 220,399.0 $5.7M 0.09% -17K -7.3% $25.80 -2.0%
88 BSMZ Invesco BulletShares 2035 Muni 206,255.0 $5.3M 0.08% -17K -7.6% $25.64 -3.0%
89 TRIP TripAdvisor Inc. Consumer Cyclical 376,853.0 $5.2M 0.08% -34K -8.3% $13.71 -26.3%
90 BSMW Invesco BulletShares 2032 Munc 197,253.0 $5.0M 0.08% -15K -7.2% $25.14 -1.7%
91 MTN Vail Resorts Inc. Consumer Cyclical 34,082.0 $4.6M 0.07% -3K -8.4% $136.15 +8.6%
92 PZA Powershares Insured National M 192,712.0 $4.5M 0.07% -16K -7.7% $23.52 -3.1%
93 CVCO Cavco Industries Inc. Consumer Cyclical 7,310.0 $4.5M 0.07% -680.0 -8.5% $614.38 -4.3%
94 TSM Taiwan Semiconductor Manufactu Technology 7,622.0 $3.6M 0.06% -975.0 -11.3% $477.57 -12.6%
95 AEM Agnico Eagle Mines Ltd. Basic Materials 22,732.0 $3.5M 0.06% -564.0 -2.4% $155.13 +44.5%
96 MUB iShares National Muni Bond ETF 30,098.0 $3.2M 0.05% -2K -4.9% $107.62 -1.9%
97 Barings BDC Inc. 306,261.0 $2.6M 0.04% -2K -0.5% $8.52
98 IWD iShares Russell 1000 Value ETF 10,492.0 $2.5M 0.04% -8K -42.0% $242.43 +6.5%
99 BSMU Invesco BulletShares 2030 Muni 114,674.0 $2.5M 0.04% -8K -6.8% $21.92 -0.9%
100 Sandoz Group 27,141.0 $2.5M 0.04% -1K -4.7% $90.49
Page 5 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%