Confluence Investment Management LLC 13F holdings
Confluence Investment Management LLC reported 286 positions with a total reported value of $6.4B as of 2026-06-30, in its 13F for Q2 2026, filed 2026-07-01. Top holdings by reported value: iShares 0-3 Month Treasury Bon (4.4%), SNA Snap-on Inc. (2.6%), CB Chubb Ltd. (2.5%), LIN Linde plc (2.2%), WEC WEC Energy Group Inc. (2.2%). Against 2026-03-31 it opened 28 new positions and exited 21. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 286 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| iShares 0-3 Month Treasury Bon | 2,788,012 | $280.7M | 4.4% |
| SNA Snap-on Inc. | 417,132 | $167.9M | 2.6% |
| CB Chubb Ltd. | 460,772 | $157.0M | 2.5% |
| LIN Linde plc | 270,727 | $140.5M | 2.2% |
| WEC WEC Energy Group Inc. | 1,191,332 | $139.1M | 2.2% |
| FAST Fastenal Co. | 2,829,738 | $135.9M | 2.1% |
| ETR Entergy Corp. | 1,156,624 | $132.8M | 2.1% |
| LMT Lockheed Martin Corp. | 258,577 | $131.7M | 2.1% |
| SO Southern Co. | 1,370,593 | $131.2M | 2.0% |
| SWK Stanley Black & Decker Inc. | 1,348,374 | $126.9M | 2.0% |
| CVX Chevron Corp. | 742,863 | $123.1M | 1.9% |
| PGR Progressive Corp. | 557,408 | $121.8M | 1.9% |
| CLX Clorox Co. | 1,247,644 | $119.1M | 1.9% |
| Mondelez International Inc. | 2,044,332 | $118.2M | 1.8% |
| ADI Analog Devices Inc. | 293,390 | $116.5M | 1.8% |
| HSY Hershey Co. | 663,243 | $116.4M | 1.8% |
| NTRS Northern Trust Corp. | 660,416 | $114.8M | 1.8% |
| CL Colgate-Palmolive Co. | 1,209,372 | $110.9M | 1.7% |
| HD Home Depot Inc. | 311,263 | $109.8M | 1.7% |
| KMI Kinder Morgan Inc. | 3,368,817 | $107.7M | 1.7% |
| TROW T. Rowe Price Group Inc. | 936,409 | $106.5M | 1.7% |
| GILD Gilead Sciences Inc. | 832,632 | $105.2M | 1.6% |
| USB U.S. Bancorp | 1,734,918 | $104.8M | 1.6% |
| American Water Works Co. Inc. | 780,309 | $102.7M | 1.6% |
| CSCO Cisco Systems Inc. | 841,787 | $98.9M | 1.5% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 28 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| SWK Stanley Black & Decker Inc. | 1,348,374 | $126.9M | 2.0% |
| HONA Honeywell Aerospace Inc. | 241,062 | $53.3M | 0.8% |
| ATR AptarGroup Inc. | 160,935 | $20.1M | 0.3% |
| State Street Energy Select Sec | 230,673 | $12.3M | 0.2% |
| FND Floor & Decor Holdings Inc. | 131,310 | $7.8M | 0.1% |
| RYAN Ryan Specialty Group | 189,001 | $7.1M | 0.1% |
| Vanguard FTSE Pacific Index Fu | 60,466 | $7.0M | 0.1% |
| STVN Stevanato Group S.p.A. | 335,493 | $6.1M | <0.1% |
| BondBloxx Bloomberg One Year T | 60,474 | $3.0M | <0.1% |
| SPDR Industrial Select Sector | 10,894 | $2.0M | <0.1% |
| Xtrackers Municipal Infrastruc | 72,103 | $1.8M | <0.1% |
| TRMOY Tourmaline Oil Corp. | 33,988 | $1.4M | <0.1% |
| CF CF Industries Holdings Inc. | 12,115 | $1.3M | <0.1% |
| BP BP PLC ADR (1:6) | 35,263 | $1.3M | <0.1% |
| Occidental Petroleum Corp. | 26,565 | $1.3M | <0.1% |
| CRH plc | 11,823 | $1.3M | <0.1% |
| DVN Devon Energy Corp. | 28,927 | $1.2M | <0.1% |
| New Hope Corp. Ltd. | 230,475 | $871.2K | <0.1% |
| BMI Badger Meter Inc. | 5,290 | $784.9K | <0.1% |
| Gladstone Investment Corp. | 36,982 | $571.7K | <0.1% |
| OTF Blue Owl Technology Finance | 31,100 | $321.9K | <0.1% |
| ERO ERO Copper Corp. | 11,428 | $305.1K | <0.1% |
| NU NU Holdings Ltd | 21,385 | $285.7K | <0.1% |
| MMYT MakeMyTrip Ltd. | 4,680 | $249.4K | <0.1% |
| WCN Waste Connections Inc. | 1,244 | $207.4K | <0.1% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 21 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| SBUX Starbucks Corp. | 315,131 | $28.2M | 0.4% |
| iShares BB Rated Corporate Bon | 350,424 | $16.3M | 0.3% |
| iShares 3-7 Year Treasury Bond | 125,466 | $14.9M | 0.2% |
| iShares 1-5 Year Investment Gr | 225,126 | $11.8M | 0.2% |
| iShares iBonds Dec 2029 Term T | 183,271 | $4.0M | <0.1% |
| State Street Communication Ser | 16,120 | $1.8M | <0.1% |
| Antofagasta plc | 34,178 | $1.5M | <0.1% |
| FSK FS KKR Capital Corp. | 147,605 | $1.5M | <0.1% |
| Coterra Energy Inc. | 39,307 | $1.4M | <0.1% |
| FCX Freeport-McMoRan Inc. | 22,870 | $1.3M | <0.1% |
| SPDR S&P 400 Mid Cap Growth ET | 13,458 | $1.3M | <0.1% |
| ProShares S&P MidCap 400 Divid | 14,360 | $1.2M | <0.1% |
| DNN Denison Mines Corp. | 313,086 | $1.1M | <0.1% |
| NXE NexGen Energy Ltd | 90,230 | $1.0M | <0.1% |
| UEC Uranium Energy Corp. | 76,801 | $1.0M | <0.1% |
| Nintendo Co. Ltd. | 70,478 | $1.0M | <0.1% |
| ENOV Enovis Corp. | 39,936 | $908.5K | <0.1% |
| Winnebago Industries Inc. | 26,585 | $823.9K | <0.1% |
| SPDR S&P 400 Mid Cap Value ETF | 7,972 | $678.8K | <0.1% |
| COST Costco Wholesale Corp. | 210 | $209.2K | <0.1% |
| RWAY Runway Growth Finance Corp. | 14,216 | $97.7K | <0.1% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| iShares 0-3 Month Treasury Bon | 1,753,514 | 2,788,012 | +59.0% | $280.7M |
| BKNG Booking Holdings Inc. | 6,143 | 194,765 | +3,070.5% | $34.7M |
| CLX Clorox Co. | 932,575 | 1,247,644 | +33.8% | $119.1M |
| ZTS Zoetis Inc. | 141,863 | 465,449 | +228.1% | $33.4M |
| SPDR Portfolio S&P 500 Value E | 790,404 | 1,047,254 | +32.5% | $63.7M |
| SPDR Gold MiniShares Trust ETF | 332,974 | 522,617 | +57.0% | $41.5M |
| iShares Barclays 10-20 Year Tr | 205,868 | 335,581 | +63.0% | $33.7M |
| SPDR S&P Dividend ETF | 68,710 | 132,295 | +92.5% | $20.1M |
| Global X Defense Tech ETF | 123,276 | 262,921 | +113.3% | $15.7M |
| iShares iBonds Dec 2035 Term T | 807,886 | 1,044,548 | +29.3% | $26.2M |
| SPDR Portfolio S&P 500 Growth | 528,353 | 573,709 | +8.6% | $68.3M |
| SPGI S&P Global Inc. | 134,280 | 141,607 | +5.5% | $57.7M |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| ADI Analog Devices Inc. | 540,640 | 293,390 | -45.7% | $116.5M |
| CSCO Cisco Systems Inc. | 1,540,946 | 841,787 | -45.4% | $98.9M |
| Honeywell International Inc. | 499,862 | 240,572 | -51.9% | $53.9M |
| DEO Diageo plc | 1,353,434 | 776,936 | -42.6% | $62.5M |
| KEYS Keysight Technologies Inc. | 179,504 | 64,599 | -64.0% | $22.6M |
| GOOGL Alphabet Inc. | 172,879 | 115,450 | -33.2% | $40.8M |
| NXPI NXP Semiconductors N.V. | 219,824 | 151,365 | -31.1% | $42.5M |
| BWIN Baldwin Insurance Group Inc. | 638,637 | 77,621 | -87.8% | $2.1M |
| APH Amphenol Corp. | 185,611 | 118,987 | -35.9% | $21.0M |
| SPDR Portfolio Mortgage Backed | 3,853,493 | 3,370,501 | -12.5% | $75.2M |
| ETR Entergy Corp. | 1,229,287 | 1,156,624 | -5.9% | $132.8M |
| NDSN Nordson Corp. | 308,267 | 281,120 | -8.8% | $84.8M |
CIK 1442056 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
