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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 8 of 15  ·  290 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
141 Disco Corp. 42,521.0 $2.2M 0.04% -277.0 -0.7% $52.37
142 IBMR iShares iBonds Dec 2029 Term M 87,480.0 $2.2M 0.04% +771.0 +0.9% $25.39 -0.3%
143 BSMT Invesco BulletShares 2029 Muni 96,425.0 $2.2M 0.04% -8K -7.6% $23.03 -0.4%
144 MUFG Mitsubishi UFJ Financial Financial Services 106,721.0 $2.1M 0.03% -5K -4.2% $19.89 +11.8%
145 Baldwin Insurance Group Inc. 77,621.0 $2.1M 0.03% -561K -87.8% $26.58
146 XLI SPDR Industrial Select Sector 10,894.0 $2.0M 0.03% NEW $185.23 -3.7%
147 NMFC New Mountain Finance Corp. Financial Services 277,609.0 $2.0M 0.03% $7.17 +6.1%
148 AER AerCap Holdings N.V. Industrials 13,112.0 $1.9M 0.03% -501.0 -3.7% $145.78 +1.1%
149 DBS Group Holdings Ltd. 9,372.0 $1.9M 0.03% -411.0 -4.2% $202.89
150 CNR Core Natural Resources Inc. Energy 23,555.0 $1.9M 0.03% +1K +6.2% $80.02 +21.2%
151 Techtronic Industries Co. Ltd. 22,118.0 $1.8M 0.03% +575.0 +2.7% $83.40
152 GTES Gates Industrial Corp. plc Industrials 65,517.0 $1.8M 0.03% -6K -8.9% $27.97 -7.2%
153 RVNU Xtrackers Municipal Infrastruc 72,103.0 $1.8M 0.03% NEW $25.31 -2.9%
154 ING ING Groep N.V. Financial Services 56,589.0 $1.8M 0.03% -2K -4.1% $31.38 +12.5%
155 WDS Woodside Energy Group Ltd. Energy 90,282.0 $1.7M 0.03% +3K +3.6% $19.32 +18.3%
156 VIST Vista Energy S.A.B. de C.V. Energy 27,270.0 $1.7M 0.03% +443.0 +1.6% $63.80 +7.2%
157 Safran S.A. 17,366.0 $1.7M 0.03% -713.0 -3.9% $98.27
158 Lundin Mining Corp. 69,752.0 $1.7M 0.03% +2K +2.5% $24.32
159 SCCO Southern Copper Corp. Basic Materials 9,672.0 $1.7M 0.03% +350.0 +3.8% $174.27 +26.1%
160 IBMQ iShares iBonds Dec 2028 Term M 64,602.0 $1.7M 0.03% -34K -34.8% $25.58 -0.2%
Page 8 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%