13F holdings
CONFLUENCE INVESTMENT MANAGEMENT LLC portfolio
Managed by . 283 reported positions worth $6.4B as of 2026-03-31, filed with the SEC on 2026-04-01. Parsed from the filing itself, not a reseller.
$6.4B
Book value
283
Positions
24%
Top 10 weight
+18
New this quarter
-31
Exited
134 days
Age today
How old this actually is
Every position on this page is a snapshot of 2026-03-31. It was already 1 days old on 2026-04-01, the day it first became public. Today it is 134 days old.
That lag is the law, not a service level — Rule 13f-1 gives managers 45 days after quarter end to file, and no product can shorten it. A fund can have sold every share below before you read this sentence. Treat it as a record of what happened, never as a position you can follow.
What changed
Positions opened and closed
Against its 2025-12-31 filing. This is the part worth reading — the holdings table below is mostly years old.
New positions (18)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| TREX | Trex Company Inc. | $14.2M | 390,641 | 0.22% |
| PICK | iShares MSCI Global Metals & M | $8.1M | 143,972 | 0.13% |
| GDX | VanEck Gold Miners ETF | $5.8M | 63,691 | 0.09% |
| BSMZ | Invesco BulletShares 2035 Muni | $5.6M | 223,117 | 0.09% |
| BSMT | Invesco BulletShares 2029 Muni | $2.4M | 104,378 | 0.04% |
| WDS | Woodside Energy Group Ltd. | $2.1M | 87,146 | 0.03% |
| XLC | State Street Communication Ser | $1.8M | 16,120 | 0.03% |
| CVE | Cenovus Energy Inc. | $1.7M | 63,727 | 0.03% |
| SHEL | Shell plc | $1.5M | 16,435 | 0.02% |
| GDXJ | VanEck Junior Gold Miners ETF | $1.5M | 12,491 | 0.02% |
| CNQ | Canadian Natural Resources Ltd | $1.5M | 30,370 | 0.02% |
| LNRCF | LunR Royalties Corp. | $919,622 | 41,801 | 0.01% |
| FELE | Franklin Electric Co. Inc. | $648,231 | 7,033 | 0.01% |
| COST | Costco Wholesale Corp. | $209,250 | 210 | 0.00% |
| VALE | Vale S.A. | $190,888 | 11,998 | 0.00% |
| Betterware de Mexico S.A | Betterware de Mexico S.A.P.I. | $174,130 | 10,328 | 0.00% |
| ASAIY | Sendas Distribuidora S.A. | $123,116 | 13,574 | 0.00% |
| ELME | Elme Communities | $44,427 | 22,103 | 0.00% |
Closed out (31)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| MKC | McCormick & Company Inc. | $19.2M | 281,411 | 0.00% |
| IBTH | iShares iBonds Dec 2027 Term T | $9.7M | 431,286 | 0.00% |
| IBDS | iShares iBonds Dec 2027 Term C | $9.6M | 393,499 | 0.00% |
| IBDX | iShares iBonds Dec 2032 Term C | $7.6M | 298,135 | 0.00% |
| IBDR | iShares iBonds Dec 2026 Term C | $5.9M | 243,126 | 0.00% |
| BSMR | Invesco BulletShares 2027 Muni | $5.8M | 243,914 | 0.00% |
| UNF | UniFirst Corp. | $5.4M | 28,020 | 0.00% |
| BSMQ | Invesco BulletShares 2026 Muni | $3.9M | 163,801 | 0.00% |
| IWN | iShares Russell 2000 Value ETF | $3.8M | 21,203 | 0.00% |
| FG | F&G Annuities and Life | $3.7M | 121,300 | 0.00% |
| SLV | iShares Silver Trust ETF | $1.8M | 27,504 | 0.00% |
| AG | First Majestic Silver Corp. | $1.5M | 90,903 | 0.00% |
| CNNE | Cannae Holdings Inc. | $1.1M | 70,250 | 0.00% |
| AR | Antero Resources Corp. | $986,486 | 28,627 | 0.00% |
| TTE | TotalEnergies S.E. | $985,683 | 15,067 | 0.00% |
| ICLR | ICON plc | $915,109 | 5,022 | 0.00% |
| PBDC | Putnam BDC Income ETF | $845,631 | 27,635 | 0.00% |
| SBSW | Sibanye Stillwater Ltd. | $709,165 | 49,766 | 0.00% |
| GSBD | Goldman Sachs BDC Inc. | $703,619 | 75,821 | 0.00% |
| MakeMyTrip Ltd. | MakeMyTrip Ltd. | $300,970 | 3,665 | 0.00% |
| WTW | Willis Towers Watson plc | $299,355 | 911 | 0.00% |
| BCIC | BCP Investment Corp. | $284,136 | 24,018 | 0.00% |
| IEFA | iShares Core MSCI EAFE ETF | $283,051 | 3,164 | 0.00% |
| MP | MP Materials Corp. | $274,677 | 5,437 | 0.00% |
| AVLC | Avantis US Large Cap Equity ET | $271,868 | 3,458 | 0.00% |
Added to (119)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| MDLZ | Mondelez International Inc. | $121.8M | 2,112,856 | 1.89% | +21% |
| AWK | American Water Works Co. Inc. | $110.2M | 809,958 | 1.71% | +2% |
| DEO | Diageo plc | $100.8M | 1,353,434 | 1.56% | +23% |
| CLX | Clorox Co. | $96.6M | 932,575 | 1.50% | +20% |
| TROW | T. Rowe Price Group Inc. | $86.8M | 963,167 | 1.35% | +2% |
| DOW | Dow Inc. | $77.9M | 1,870,348 | 1.21% | +18% |
| ACN | Accenture plc | $67.6M | 340,812 | 1.05% | +3% |
| APD | Air Products and Chemicals Inc | $63.2M | 217,487 | 0.98% | +14% |
| SPYG | SPDR Portfolio S&P 500 Growth | $51.7M | 528,353 | 0.80% | +3% |
| PAYC | Paycom Software Inc. | $49.6M | 407,747 | 0.77% | +28% |
| SPYV | SPDR Portfolio S&P 500 Value E | $44.7M | 790,404 | 0.69% | +31% |
| ACGL | Arch Capital Group Ltd. | $34.9M | 364,086 | 0.54% | +1% |
| BF/B | Brown-Forman Corp. - B | $32.7M | 1,237,621 | 0.51% | +4% |
| MORN | Morningstar Inc. | $30.0M | 177,568 | 0.47% | +150% |
| CARR | Carrier Global Corp. | $28.8M | 511,137 | 0.45% | +143% |
Trimmed (127)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| IWD | iShares Russell 1000 Value ETF | $3.9M | 18,099 | 0.06% | -97% |
| MDYV | SPDR S&P 400 Mid Cap Value ETF | $678,820 | 7,972 | 0.01% | -90% |
| MDYG | SPDR S&P 400 Mid Cap Growth ET | $1.3M | 13,458 | 0.02% | -90% |
| REGL | ProShares S&P MidCap 400 Divid | $1.2M | 14,360 | 0.02% | -89% |
| PPLT | Aberdeen Physical Platinum Sha | $969,571 | 5,440 | 0.02% | -57% |
| CCAP | Crescent Capital BDC Inc. | $391,509 | 32,223 | 0.01% | -54% |
| RBC | RBC Bearings Inc. | $1.5M | 2,722 | 0.02% | -54% |
| KEYS | Keysight Technologies Inc. | $50.7M | 179,504 | 0.79% | -46% |
| NTRS | Northern Trust Corp. | $94.9M | 680,260 | 1.47% | -38% |
| DLTR | Dollar Tree Inc. | $16.0M | 146,113 | 0.25% | -38% |
| Gates Industrial Corp. p | Gates Industrial Corp. plc | $1.6M | 71,924 | 0.03% | -34% |
| UFPT | UFP Technologies Inc. | $986,779 | 5,097 | 0.02% | -34% |
| HAYW | Hayward Holdings Inc. | $1.2M | 93,408 | 0.02% | -32% |
| LFUS | Littelfuse Inc. | $1.7M | 4,991 | 0.03% | -31% |
| SPB | Spectrum Brands Holdings Inc. | $1.5M | 20,397 | 0.02% | -31% |
The book
Largest 150 of 283 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| SGOV | iShares 0-3 Month Treasury Bon | $176.5M | 1,753,514 | 2.74% | — |
| ADI | Analog Devices Inc. | $172.0M | 540,640 | 2.67% | — |
| LMT | Lockheed Martin Corp. | $163.0M | 269,640 | 2.53% | — |
| CVX | Chevron Corp. | $159.8M | 772,243 | 2.48% | — |
| SNA | Snap-on Inc. | $158.3M | 435,896 | 2.46% | — |
| CB | Chubb Ltd. | $157.1M | 482,043 | 2.44% | — |
| HSY | Hershey Co. | $143.5M | 690,349 | 2.23% | — |
| WEC | WEC Energy Group Inc. | $143.2M | 1,237,016 | 2.22% | — |
| LIN | Linde plc | $140.3M | 283,072 | 2.18% | — |
| ETR | Entergy Corp. | $138.1M | 1,229,287 | 2.14% | — |
| FAST | Fastenal Co. | $137.7M | 2,966,722 | 2.14% | — |
| SO | Southern Co. | $137.2M | 1,421,871 | 2.13% | — |
| MDLZ | Mondelez International Inc. | $121.8M | 2,112,856 | 1.89% | — |
| GILD | Gilead Sciences Inc. | $120.0M | 861,023 | 1.86% | — |
| CSCO | Cisco Systems Inc. | $119.6M | 1,540,946 | 1.86% | — |
| KMI | Kinder Morgan Inc. | $117.0M | 3,489,006 | 1.82% | — |
| PGR | Progressive Corp. | $115.0M | 580,259 | 1.79% | — |
| HONGBP | Honeywell International Inc. | $113.0M | 499,862 | 1.75% | — |
| AWK | American Water Works Co. Inc. | $110.2M | 809,958 | 1.71% | — |
| CL | Colgate-Palmolive Co. | $106.5M | 1,250,090 | 1.65% | — |
| HD | Home Depot Inc. | $105.2M | 319,923 | 1.63% | — |
| DEO | Diageo plc | $100.8M | 1,353,434 | 1.56% | — |
| CLX | Clorox Co. | $96.6M | 932,575 | 1.50% | — |
| NTRS | Northern Trust Corp. | $94.9M | 680,260 | 1.47% | — |
| USB | U.S. Bancorp | $92.8M | 1,784,403 | 1.44% | — |
| FNF | Fidelity National Financial In | $90.8M | 1,957,007 | 1.41% | — |
| PAYX | Paychex Inc. | $89.3M | 969,809 | 1.39% | — |
| BR | Broadridge Financial Solutions | $86.8M | 534,393 | 1.35% | — |
| TROW | T. Rowe Price Group Inc. | $86.8M | 963,167 | 1.35% | — |
| SPMB | SPDR Portfolio Mortgage Backed | $86.3M | 3,853,493 | 1.34% | — |
| NDSN | Nordson Corp. | $82.0M | 308,267 | 1.27% | — |
| DOW | Dow Inc. | $77.9M | 1,870,348 | 1.21% | — |
| WRB | W. R. Berkley Corp. | $73.8M | 1,113,400 | 1.15% | — |
| MA | Mastercard Inc. | $73.2M | 146,534 | 1.14% | — |
| SPDW | SPDR Portfolio Developed World | $72.7M | 1,592,493 | 1.13% | — |
| TJX | TJX Co. Inc. | $71.3M | 446,526 | 1.11% | — |
| SYK | Stryker Corp. | $68.4M | 208,059 | 1.06% | — |
| ACN | Accenture plc | $67.6M | 340,812 | 1.05% | — |
| APD | Air Products and Chemicals Inc | $63.2M | 217,487 | 0.98% | — |
| ARCC | Ares Capital Corp. | $61.9M | 3,435,289 | 0.96% | — |
| SPGI | S&P Global Inc. | $57.1M | 134,280 | 0.89% | — |
| MSFT | Microsoft Corp. | $55.0M | 148,611 | 0.85% | — |
| ITW | Illinois Tool Works Inc. | $53.9M | 207,159 | 0.84% | — |
| SPYG | SPDR Portfolio S&P 500 Growth | $51.7M | 528,353 | 0.80% | — |
| KEYS | Keysight Technologies Inc. | $50.7M | 179,504 | 0.79% | — |
| MAS | Masco Corp. | $50.0M | 828,604 | 0.78% | — |
| LOW | Lowe's Co. Inc. | $49.6M | 210,064 | 0.77% | — |
| GOOG | Alphabet Inc. | $49.6M | 172,879 | 0.77% | — |
| GGG | Graco Inc. | $49.6M | 585,714 | 0.77% | — |
| PAYC | Paycom Software Inc. | $49.6M | 407,747 | 0.77% | — |
| SPYV | SPDR Portfolio S&P 500 Value E | $44.7M | 790,404 | 0.69% | — |
| BRK/B | Berkshire Hathaway Inc. - B | $44.7M | 93,261 | 0.69% | — |
| TMO | Thermo Fisher Scientific Inc. | $44.3M | 90,151 | 0.69% | — |
| NXPI | NXP Semiconductors N.V. | $43.3M | 219,824 | 0.67% | — |
| ACGL | Arch Capital Group Ltd. | $34.9M | 364,086 | 0.54% | — |
| MLM | Martin Marietta Materials Inc. | $33.5M | 56,855 | 0.52% | — |
| BF/B | Brown-Forman Corp. - B | $32.7M | 1,237,621 | 0.51% | — |
| MBB | iShares MBS ETF | $31.6M | 332,934 | 0.49% | — |
| GLDM | SPDR Gold MiniShares Trust ETF | $30.9M | 332,974 | 0.48% | — |
| MORN | Morningstar Inc. | $30.0M | 177,568 | 0.47% | — |
| CARR | Carrier Global Corp. | $28.8M | 511,137 | 0.45% | — |
| SBUX | Starbucks Corp. | $28.2M | 315,131 | 0.44% | — |
| IBTO | iShares iBonds Dec 2033 Term T | $26.4M | 1,081,896 | 0.41% | — |
| BRO | Brown & Brown Inc. | $26.4M | 404,645 | 0.41% | — |
| BKNG | Booking Holdings Inc. | $25.9M | 6,143 | 0.40% | — |
| STZ | Constellation Brands | $25.7M | 171,647 | 0.40% | — |
| IBTL | iShares iBonds Dec 2031 Term T | $24.5M | 1,202,814 | 0.38% | — |
| GD | General Dynamics Corp. | $24.3M | 70,894 | 0.38% | — |
| EOG | EOG Resources Inc. | $24.0M | 165,675 | 0.37% | — |
| ECL | Ecolab Inc. | $23.8M | 89,454 | 0.37% | — |
| IBTP | iShares iBonds Dec 2034 Term T | $23.6M | 919,178 | 0.37% | — |
| APH | Amphenol Corp. | $23.5M | 185,611 | 0.36% | — |
| TTC | Toro Co. | $23.4M | 250,943 | 0.36% | — |
| EXPD | Expeditors International of Wa | $23.0M | 160,703 | 0.36% | — |
| NJR | New Jersey Resources Corp. | $22.9M | 416,958 | 0.36% | — |
| DCI | Donaldson Co. Inc. | $22.6M | 265,723 | 0.35% | — |
| RMD | ResMed Inc. | $22.4M | 99,845 | 0.35% | — |
| RLI | RLI Corp. | $21.8M | 382,149 | 0.34% | — |
| MCD | McDonald's Corp. | $21.7M | 69,902 | 0.34% | — |
| SHW | Sherwin-Williams Co. | $21.3M | 66,450 | 0.33% | — |
| AOS | A. O. Smith Corp. | $21.0M | 319,075 | 0.33% | — |
| TLH | iShares Barclays 10-20 Year Tr | $20.7M | 205,868 | 0.32% | — |
| IBTQ | iShares iBonds Dec 2035 Term T | $20.4M | 807,886 | 0.32% | — |
| IBTM | iShares iBonds Dec 2032 Term T | $18.4M | 804,094 | 0.29% | — |
| PG | Procter & Gamble Co. | $17.8M | 123,362 | 0.28% | — |
| MDT | Medtronic plc | $17.8M | 205,401 | 0.28% | — |
| CRL | Charles River Laboratories Int | $17.3M | 100,534 | 0.27% | — |
| ZTS | Zoetis Inc. | $16.8M | 141,863 | 0.26% | — |
| HYBB | iShares BB Rated Corporate Bon | $16.3M | 350,424 | 0.25% | — |
| DLTR | Dollar Tree Inc. | $16.0M | 146,113 | 0.25% | — |
| IEUR | iShares Core MSCI Europe ETF | $15.3M | 217,396 | 0.24% | — |
| NKE | NIKE Inc. | $14.9M | 282,354 | 0.23% | — |
| IEI | iShares 3-7 Year Treasury Bond | $14.9M | 125,466 | 0.23% | — |
| BDX | Becton Dickinson & Co. | $14.7M | 93,498 | 0.23% | — |
| VVV | Valvoline Inc. | $14.5M | 431,559 | 0.23% | — |
| TREX | Trex Company Inc. | $14.2M | 390,641 | 0.22% | — |
| BWIN | Baldwin Insurance Group Inc. | $14.0M | 638,637 | 0.22% | — |
| VNT | Vontier Corp. | $13.6M | 384,294 | 0.21% | — |
| AVDV | Avantis International Small Ca | $12.1M | 120,837 | 0.19% | — |
| DIS | Walt Disney Co. | $11.9M | 123,156 | 0.18% | — |
| IGSB | iShares 1-5 Year Investment Gr | $11.8M | 225,126 | 0.18% | — |
| CPRT | Copart Inc. | $10.4M | 313,965 | 0.16% | — |
| SDY | SPDR S&P Dividend ETF | $10.0M | 68,710 | 0.16% | — |
| DFNM | Dimensional National Municipal | $9.8M | 205,362 | 0.15% | — |
| SHLD | Global X Defense Tech ETF | $8.7M | 123,276 | 0.14% | — |
| PICK | iShares MSCI Global Metals & M | $8.1M | 143,972 | 0.13% | — |
| BSMY | Invesco BulletShares 2034 Muni | $7.9M | 327,709 | 0.12% | — |
| SPY | SPDR S&P 500 ETF | $7.8M | 11,922 | 0.12% | — |
| JBTM | JBT Marel Corp. | $7.0M | 55,124 | 0.11% | — |
| IBTK | iShares iBonds Dec 2030 Term T | $7.0M | 353,634 | 0.11% | — |
| BSMV | Invesco BulletShares 2031 Muni | $6.5M | 311,374 | 0.10% | — |
| BSSX | Invesco Bulletshares 2033 Muni | $6.0M | 237,863 | 0.09% | — |
| GDX | VanEck Gold Miners ETF | $5.8M | 63,691 | 0.09% | — |
| BSMZ | Invesco BulletShares 2035 Muni | $5.6M | 223,117 | 0.09% | — |
| BSMW | Invesco BulletShares 2032 Munc | $5.3M | 212,666 | 0.08% | — |
| MAIN | Main Street Capital Corp. | $4.8M | 90,958 | 0.07% | — |
| PZA | Powershares Insured National M | $4.8M | 208,781 | 0.07% | — |
| MTN | Vail Resorts Inc. | $4.8M | 37,203 | 0.07% | — |
| AEM | Agnico Eagle Mines Ltd. | $4.7M | 23,296 | 0.07% | — |
| TRIP | TripAdvisor Inc. | $4.4M | 410,791 | 0.07% | — |
| GBDC | Golub Capital BDC Inc. | $4.1M | 326,878 | 0.06% | — |
| HTGC | Hercules Capital Inc. | $4.0M | 273,343 | 0.06% | — |
| IBTJ | iShares iBonds Dec 2029 Term T | $4.0M | 183,271 | 0.06% | — |
| CVCO | Cavco Industries Inc. | $3.9M | 7,990 | 0.06% | — |
| IWD | iShares Russell 1000 Value ETF | $3.9M | 18,099 | 0.06% | — |
| TSLX | Sixth Street Specialty Lending | $3.8M | 207,790 | 0.06% | — |
| BRK/A | Berkshire Hathaway Inc. - A | $3.6M | 5 | 0.06% | — |
| BXSL | Blackstone Secured Lending Fun | $3.4M | 144,047 | 0.05% | — |
| MUB | iShares National Muni Bond ETF | $3.4M | 31,662 | 0.05% | — |
| CNMD | CONMED Corp. | $3.3M | 93,530 | 0.05% | — |
| HYMB | SPDR Nuveen S&P High Yield Mun | $3.1M | 124,905 | 0.05% | — |
| MLN | VanEck Vectors Long Municipal | $3.0M | 169,953 | 0.05% | — |
| SHM | SPDR Nuveen Barclays Capital S | $2.9M | 61,292 | 0.05% | — |
| TSM | Taiwan Semiconductor Manufactu | $2.9M | 8,597 | 0.05% | — |
| IIIV | i3 Verticals Inc. | $2.7M | 120,314 | 0.04% | — |
| BSMU | Invesco BulletShares 2030 Muni | $2.7M | 123,052 | 0.04% | — |
| BBDC | Barings BDC Inc. | $2.5M | 307,872 | 0.04% | — |
| IBMQ | iShares iBonds Dec 2028 Term M | $2.5M | 99,101 | 0.04% | — |
| OBDC | Blue Owl Capital Corp. | $2.5M | 224,365 | 0.04% | — |
| BSMT | Invesco BulletShares 2029 Muni | $2.4M | 104,378 | 0.04% | — |
| CNR | Core Natural Resources Inc. | $2.3M | 22,176 | 0.04% | — |
| SDZNY | Sandoz Group | $2.2M | 28,479 | 0.03% | — |
| IBMR | iShares iBonds Dec 2029 Term M | $2.2M | 86,709 | 0.03% | — |
| NMFC | New Mountain Finance Corp. | $2.2M | 277,571 | 0.03% | — |
| CSWC | Capital Southwest Corp. | $2.1M | 95,339 | 0.03% | — |
| WDS | Woodside Energy Group Ltd. | $2.1M | 87,146 | 0.03% | — |
| VIST | Vista Energy S.A.B. de C.V. | $2.0M | 26,827 | 0.03% | — |
| KN | Knowles Corp. | $2.0M | 76,922 | 0.03% | — |
| ASML | ASML Holding N.V. | $1.9M | 1,440 | 0.03% | — |
| MUFG | Mitsubishi UFJ Financial | $1.9M | 111,432 | 0.03% | — |
This table is the 150 largest positions by value, out of 283 reported. The search box only searches what is on this page — a name absent from it may still be in the filing further down the book. The full info table is here.
Rows are aggregated by CUSIP — a manager files the same security multiple times when different internal desks hold it. Tickers link to our own backtest of that asset where we cover it.
Read the original
This page was built from one document: the 2026-03-31 Form 13F info table filed by CONFLUENCE INVESTMENT MANAGEMENT LLC (CIK 1442056, accession 0001442056-26-000004). Every other 13F site is reading the same file.
If anything here disagrees with it, the filing wins — and we would want to know. All 13F filings by this manager
What a 13F cannot show you
A 13F is a long-only equity snapshot, and the holes in it are structural. Anyone selling you this data as "what the smart money is doing" is selling you one leg of a position:
- No short positions. None, ever. A fund shown here as bullish may be net short the same name through a book you cannot see.
- No cash, bonds, FX, commodities or non-US listings. A macro fund's entire thesis can be invisible.
- No intra-quarter round trips. Bought and sold inside the same quarter means it never appears at all.
- Options are notional, not ownership. We keep puts and calls in a separate bucket rather than adding their notional into a fund's book size, which is how a $2B fund gets reported as a $20B one.
- Confidential treatment. Managers can ask the SEC to withhold a position while they build it. Those holdings are legally absent from the filing, so a "new" position may be months old.
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