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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 11 of 15  ·  290 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
201 JBSS John B Sanfilippo & Son Inc. Consumer Defensive 14,170.0 $1.2M 0.02% -831.0 -5.5% $85.99 -12.0%
202 EQT EQT Corp. Energy 22,743.0 $1.2M 0.02% +1K +6.5% $53.17 +4.0%
203 DVN Devon Energy Corp. Energy 28,927.0 $1.2M 0.02% NEW $41.32 +14.2%
204 MidCap Financial Investment Co 118,551.0 $1.2M 0.02% +1K +1.2% $10.08
205 ITOCHU Corp. 103,063.0 $1.2M 0.02% +1K +1.1% $11.40
206 SONY Sony Group Corp. Technology 58,461.0 $1.2M 0.02% -485.0 -0.8% $20.06 +20.3%
207 L'Oreal S.A. 13,200.0 $1.2M 0.02% +182.0 +1.4% $87.71
208 AGI Alamos Gold Inc. Basic Materials 36,903.0 $1.1M 0.02% +2K +4.8% $30.34 +24.6%
209 Chugai Pharms Co. Ltd. 47,712.0 $1.1M 0.02% +612.0 +1.3% $23.08
210 Altus Group Ltd. 34,653.0 $1.1M 0.02% -2K -5.1% $31.70
211 BCSF Bain Capital Specialty Finance Financial Services 87,630.0 $1.1M 0.02% +946.0 +1.1% $12.52 -4.6%
212 Komatsu Ltd. 27,992.0 $1.1M 0.02% +1K +4.0% $39.03
213 Roche Holding A.G. 20,925.0 $1.1M 0.02% +258.0 +1.2% $51.35
214 PPLT Aberdeen Physical Platinum Sha Financial Services 75,305.0 $1.1M 0.02% +70K +1284.3% $14.13 +17.6%
215 Expand Energy Corp. 11,412.0 $1.0M 0.02% +870.0 +8.2% $91.19
216 MSDL Morgan Stanley Direct Lending Financial Services 67,513.0 $1.0M 0.02% $15.12 +0.8%
217 Unilever plc 16,848.0 $1.0M 0.02% +1K +9.3% $60.12
218 KBDC Kayne Anderson BDC Financial Services 74,821.0 $1.0M 0.02% $13.53 -0.4%
219 SHOP Shopify Inc. Technology 8,814.0 $1.0M 0.02% -484.0 -5.2% $114.18 +32.6%
220 HLN Haleon plc Healthcare 106,258.0 $991K 0.01% +2K +1.8% $9.33 +9.4%
Page 11 of 15  ·  290 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%