Confluence Investment Management LLC

13F filer · CIK 0001442056

Reported Jul 1, 2026

Net seller this quarter

13F portfolio value$6.4BU.S. long equity reported on 13F

Positions22222 new · 11 closed

Net flow last quarter-$309MBuys minus sells

Top 10 positions weight21.7%Concentration

Holdings

13F · last 4 quarters free

Scroll for earlier quarters

Company	Value	% of portfolio	% of company	POSITION CHANGE qoq %	First reported
Q2 2026Reported Jul 1, 2026222 positions
SNASnap-on Inc	$168M	2.62%	0.81%	-4.3%	Q1 2020
CBChubb Ltd	$157M	2.45%	0.12%	-4.4%	Q2 2015
LINLinde PLC	$140M	2.20%	0.06%	-4.4%	Q4 2018
WECWec Energy Group, Inc.	$139M	2.17%	0.37%	-3.7%	Q4 2018
FASTFastenal Co	$136M	2.12%	0.25%	-4.6%	Q1 2015
ETREntergy Corp	$133M	2.08%	0.25%	-5.9%	Q1 2019
LMTLockheed Martin Corp	$132M	2.06%	0.11%	-4.1%	Q2 2013
SOSouthern Co	$131M	2.05%	0.12%	-3.6%	Q2 2013
SWKStanley Black & Decker, Inc.	$127M	1.98%	0.87%	New	Q2 2026
CVXChevron Corp	$123M	1.92%	0.04%	-3.8%	Q2 2013
PGRProgressive Corp	$122M	1.90%	0.10%	-3.9%	Q2 2013
CLXClorox Co	$119M	1.86%	1.03%	+33.8%	Q2 2013
MDLZMondelez International, Inc.	$118M	1.85%	0.16%	-3.2%	Q2 2025
ADIAnalog Devices Inc	$117M	1.82%	0.06%	-45.7%	Q2 2013
HSYHershey Co	$116M	1.82%	0.33%	-3.9%	Q1 2022
NTRSNorthern Trust Corp	$115M	1.79%	0.36%	-2.9%	Q4 2013
CLColgate Palmolive Co	$111M	1.73%	0.15%	-3.3%	Q2 2013
HDHome Depot, Inc.	$110M	1.72%	0.03%	-2.7%	Q2 2013
KMIKinder Morgan, Inc.	$108M	1.68%	0.15%	-3.4%	Q2 2013
TROWPrice T Rowe Group Inc	$106M	1.66%	0.44%	-2.8%	Q2 2013
GILDGilead Sciences, Inc.	$105M	1.64%	0.07%	-3.3%	Q2 2014
USBUS Bancorp \de\	$105M	1.64%	0.11%	-2.8%	Q2 2017
AWKAmerican Water Works Company, Inc.	$103M	1.60%	0.40%	-3.7%	Q1 2019
CSCOCisco Systems, Inc.	$98.9M	1.54%	0.02%	-45.4%	Q4 2018
PAYXPaychex Inc	$93.7M	1.46%	0.27%	-1.8%	Q2 2013
FNFFidelity National Financial, Inc.	$90M	1.41%	0.71%	-2.5%	Q2 2013
NDSNNordson Corp	$84.8M	1.33%	0.50%	-8.8%	Q4 2018
WRBBerkley W R Corp	$72.8M	1.14%	0.28%	-7.3%	Q2 2013
BRBroadridge Financial Solutions, Inc.	$71.7M	1.12%	0.46%	-2.1%	Q2 2013
MAMastercard Inc	$70.1M	1.10%	0.01%	-6.8%	Q2 2013
SYKStryker Corp	$66.7M	1.04%	0.06%	+1.9%	Q2 2013
MASMasco Corp	$62.5M	0.98%	0.39%	-7.2%	Q3 2022
DEODiageo PLC	$62.5M	0.98%	0.03%	-42.6%	Q2 2013
ARCCAres Capital Corp	$62.4M	0.97%	0.47%	-2.0%	Q2 2013
TJXTJX Companies Inc	$61.6M	0.96%	0.04%	-8.9%	Q2 2013
APDAir Products & Chemicals, Inc.	$59.5M	0.93%	0.09%	-6.7%	Q2 2013
SPGIS&P Global Inc.	$57.7M	0.90%	0.05%	+5.5%	Q1 2022
HONHoneywell International Inc	$53.9M	0.84%	0.08%	-3.7%	Q3 2018
MSFTMicrosoft Corp	$53.3M	0.83%	0.00%	-3.9%	Q2 2013
HONAHoneywell Aerospace Inc.	$53.3M	0.83%	Not reported	-3.6%	Q2 2026
ITWIllinois Tool Works Inc	$52.2M	0.82%	0.07%	-6.8%	Q2 2013
DOWDow Inc.	$50.6M	0.79%	0.26%	-1.1%	Q2 2016
PAYCPaycom Software, Inc.	$47.1M	0.74%	0.85%	-8.2%	Q2 2024
TMOThermo Fisher Scientific Inc.	$46.5M	0.73%	0.03%	+2.9%	Q2 2013
BRK.BBerkshire Hathaway Inc	$43.3M	0.68%	Not reported	-7.2%	Q2 2013
ACNAccenture plc	$42.5M	0.66%	0.05%	+0.3%	Q2 2017
NXPINXP Semiconductors N.V.	$42.5M	0.66%	0.06%	-31.1%	Q2 2013
LOWLowes Companies Inc	$42.5M	0.66%	0.03%	-8.2%	Q2 2013
GGGGraco Inc	$41.5M	0.65%	0.33%	-6.3%	Q2 2013
GLDMWorld Gold Trust	$41.5M	0.65%	0.15%	+57.0%	Q1 2023

Q1 2026Reported Apr 1, 2026210 positions
ADIAnalog Devices Inc	$172M	2.67%	0.11%	-7.7%	Q2 2013
LMTLockheed Martin Corp	$163M	2.53%	0.12%	-5.5%	Q2 2013
CVXChevron Corp	$160M	2.48%	0.04%	-3.6%	Q2 2013
SNASnap-on Inc	$158M	2.46%	0.84%	-7.1%	Q1 2020
CBChubb Ltd	$157M	2.44%	0.12%	-5.7%	Q2 2015
HSYHershey Co	$144M	2.23%	0.34%	-1.1%	Q1 2022
WECWec Energy Group, Inc.	$143M	2.22%	0.38%	-6.8%	Q4 2018
LINLinde PLC	$140M	2.18%	0.06%	-4.8%	Q4 2018
ETREntergy Corp	$138M	2.14%	0.27%	-4.5%	Q1 2019
FASTFastenal Co	$138M	2.14%	0.26%	-4.1%	Q1 2015
SOSouthern Co	$137M	2.13%	0.13%	-4.3%	Q2 2013
MDLZMondelez International, Inc.	$122M	1.89%	0.16%	+21.3%	Q2 2025
GILDGilead Sciences, Inc.	$120M	1.86%	0.07%	-5.4%	Q2 2014
CSCOCisco Systems, Inc.	$120M	1.86%	0.04%	-4.8%	Q4 2018
KMIKinder Morgan, Inc.	$117M	1.82%	0.16%	-4.1%	Q2 2013
PGRProgressive Corp	$115M	1.79%	0.10%	-2.9%	Q2 2013
HONHoneywell International Inc	$113M	1.75%	0.08%	-3.4%	Q3 2018
AWKAmerican Water Works Company, Inc.	$110M	1.71%	0.41%	+2.1%	Q1 2019
CLColgate Palmolive Co	$107M	1.65%	0.16%	-2.8%	Q2 2013
HDHome Depot, Inc.	$105M	1.63%	0.03%	-3.6%	Q2 2013
DEODiageo PLC	$101M	1.56%	0.06%	+23.2%	Q2 2013
CLXClorox Co	$96.6M	1.50%	0.77%	+20.2%	Q2 2013
NTRSNorthern Trust Corp	$94.9M	1.47%	0.37%	-38.3%	Q4 2013
USBUS Bancorp \de\	$92.8M	1.44%	0.11%	-3.4%	Q2 2017
FNFFidelity National Financial, Inc.	$90.8M	1.41%	0.73%	-4.1%	Q2 2013
PAYXPaychex Inc	$89.3M	1.39%	0.27%	-1.8%	Q2 2013
BRBroadridge Financial Solutions, Inc.	$86.8M	1.35%	0.46%	-4.0%	Q2 2013
TROWPrice T Rowe Group Inc	$86.8M	1.35%	0.44%	+2.1%	Q2 2013
NDSNNordson Corp	$82M	1.27%	0.55%	-6.2%	Q4 2018
DOWDow Inc.	$77.9M	1.21%	0.26%	+17.7%	Q2 2016
WRBBerkley W R Corp	$73.8M	1.15%	0.30%	-5.8%	Q2 2013
MAMastercard Inc	$73.2M	1.14%	0.01%	-5.7%	Q2 2013
TJXTJX Companies Inc	$71.3M	1.11%	0.04%	-22.7%	Q2 2013
SYKStryker Corp	$68.4M	1.06%	0.05%	-5.1%	Q2 2013
ACNAccenture plc	$67.6M	1.05%	0.05%	+2.6%	Q2 2017
APDAir Products & Chemicals, Inc.	$63.2M	0.98%	0.10%	+14.3%	Q2 2013
ARCCAres Capital Corp	$61.9M	0.96%	0.48%	-3.0%	Q2 2013
SPGIS&P Global Inc.	$57.1M	0.89%	0.05%	-4.2%	Q1 2022
MSFTMicrosoft Corp	$55M	0.85%	0.00%	-4.0%	Q2 2013
ITWIllinois Tool Works Inc	$53.9M	0.84%	0.07%	-4.1%	Q2 2013
KEYSKeysight Technologies, Inc.	$50.7M	0.79%	0.10%	-46.3%	Q1 2023
MASMasco Corp	$50M	0.78%	0.41%	-4.0%	Q3 2022
LOWLowes Companies Inc	$49.6M	0.77%	0.04%	-6.1%	Q2 2013
GOOGAlphabet Inc.	$49.6M	0.77%	Not reported	-5.3%	Q3 2015
GGGGraco Inc	$49.6M	0.77%	0.35%	-6.0%	Q2 2013
PAYCPaycom Software, Inc.	$49.6M	0.77%	0.88%	+27.7%	Q2 2024
BRK.BBerkshire Hathaway Inc	$44.7M	0.69%	Not reported	-4.5%	Q2 2013
TMOThermo Fisher Scientific Inc.	$44.3M	0.69%	0.02%	-5.2%	Q2 2013
NXPINXP Semiconductors N.V.	$43.3M	0.67%	0.09%	-3.7%	Q2 2013
ACGLArch Capital Group Ltd.	$34.9M	0.54%	0.10%	+1.2%	Q1 2025

Q4 2025Reported Jan 5, 2026218 positions
SNASnap-on Inc	$162M	2.42%	0.90%	-4.7%	Q1 2020
CBChubb Ltd	$159M	2.39%	0.13%	-5.1%	Q2 2015
ADIAnalog Devices Inc	$159M	2.38%	0.12%	-4.5%	Q2 2013
NTRSNorthern Trust Corp	$151M	2.26%	0.59%	-4.7%	Q4 2013
WECWec Energy Group, Inc.	$140M	2.10%	0.41%	-4.6%	Q4 2018
LMTLockheed Martin Corp	$138M	2.07%	0.12%	-4.0%	Q2 2013
PGRProgressive Corp	$136M	2.04%	0.10%	+7.9%	Q2 2013
SOSouthern Co	$130M	1.94%	0.13%	-4.1%	Q2 2013
HSYHershey Co	$127M	1.90%	0.34%	-7.6%	Q1 2022
LINLinde PLC	$127M	1.90%	0.06%	-4.0%	Q4 2018
CSCOCisco Systems, Inc.	$125M	1.87%	0.04%	-5.2%	Q4 2018
BRBroadridge Financial Solutions, Inc.	$124M	1.86%	0.48%	-4.7%	Q2 2013
FASTFastenal Co	$124M	1.86%	0.27%	-3.8%	Q1 2015
CVXChevron Corp	$122M	1.83%	0.04%	-3.8%	Q2 2013
ETREntergy Corp	$119M	1.78%	0.29%	-4.8%	Q1 2019
HDHome Depot, Inc.	$114M	1.71%	0.03%	-3.9%	Q2 2013
GILDGilead Sciences, Inc.	$112M	1.67%	0.07%	-4.5%	Q2 2014
FNFFidelity National Financial, Inc.	$111M	1.67%	0.75%	-4.6%	Q2 2013
PAYXPaychex Inc	$111M	1.66%	0.28%	-3.9%	Q2 2013
AWKAmerican Water Works Company, Inc.	$103M	1.55%	0.41%	-8.0%	Q1 2019
CLColgate Palmolive Co	$102M	1.52%	0.16%	-0.6%	Q2 2013
HONHoneywell International Inc	$101M	1.51%	0.08%	Not reported	Q3 2018
KMIKinder Morgan, Inc.	$100M	1.50%	0.16%	-4.1%	Q2 2013
USBUS Bancorp \de\	$98.5M	1.48%	0.12%	-4.5%	Q2 2017
TROWPrice T Rowe Group Inc	$96.6M	1.45%	0.43%	-3.1%	Q2 2013
DEODiageo PLC	$94.8M	1.42%	0.05%	-19.5%	Q2 2013
MDLZMondelez International, Inc.	$93.8M	1.41%	0.14%	-21.7%	Q2 2025
ACNAccenture plc	$89.1M	1.34%	0.05%	+58.8%	Q2 2017
TJXTJX Companies Inc	$88.8M	1.33%	0.05%	-4.2%	Q2 2013
MAMastercard Inc	$88.7M	1.33%	0.01%	-4.1%	Q2 2013
WRBBerkley W R Corp	$82.8M	1.24%	0.31%	-4.1%	Q2 2013
NDSNNordson Corp	$79M	1.18%	0.59%	-0.6%	Q4 2018
CLXClorox Co	$78.3M	1.17%	0.64%	-16.6%	Q2 2013
SYKStryker Corp	$77.1M	1.15%	0.06%	-3.1%	Q2 2013
MSFTMicrosoft Corp	$74.8M	1.12%	0.00%	-4.4%	Q2 2013
SPGIS&P Global Inc.	$73.2M	1.10%	0.05%	-3.3%	Q1 2022
ARCCAres Capital Corp	$71.7M	1.07%	0.49%	-3.8%	Q2 2013
KEYSKeysight Technologies, Inc.	$67.9M	1.02%	0.19%	+2.3%	Q1 2023
GOOGAlphabet Inc.	$57.3M	0.86%	Not reported	-34.1%	Q3 2015
TMOThermo Fisher Scientific Inc.	$55.1M	0.83%	0.03%	+14.2%	Q2 2013
MASMasco Corp	$54.8M	0.82%	0.42%	-0.6%	Q3 2022
LOWLowes Companies Inc	$54M	0.81%	0.04%	-0.1%	Q2 2013
ITWIllinois Tool Works Inc	$53.2M	0.80%	0.07%	-3.1%	Q2 2013
GGGGraco Inc	$51.1M	0.77%	0.38%	-4.8%	Q2 2013
PAYCPaycom Software, Inc.	$50.9M	0.76%	0.58%	-2.5%	Q2 2024
NXPINXP Semiconductors N.V.	$49.5M	0.74%	0.09%	+8.3%	Q2 2013
BRK.BBerkshire Hathaway Inc	$49.1M	0.74%	Not reported	-3.2%	Q2 2013
APDAir Products & Chemicals, Inc.	$47M	0.70%	0.09%	-6.1%	Q2 2013
DOWDow Inc.	$37.2M	0.56%	0.22%	-19.0%	Q2 2016
MLMMartin Marietta Materials Inc	$37.1M	0.56%	0.10%	-2.8%	Q2 2013

Q3 2025Reported Oct 14, 2025219 positions
SNASnap-on Inc	$171M	2.43%	0.94%	-1.9%	Q1 2020
WECWec Energy Group, Inc.	$159M	2.27%	0.43%	-2.0%	Q4 2018
FASTFastenal Co	$158M	2.25%	0.28%	-2.0%	Q1 2015
NTRSNorthern Trust Corp	$156M	2.22%	0.61%	-2.3%	Q4 2013
CBChubb Ltd	$152M	2.17%	0.14%	-1.8%	Q2 2015
ADIAnalog Devices Inc	$151M	2.15%	0.12%	-2.0%	Q2 2013
LMTLockheed Martin Corp	$148M	2.12%	0.13%	-1.0%	Q2 2013
LINLinde PLC	$147M	2.10%	0.07%	-2.1%	Q4 2018
SOSouthern Co	$147M	2.09%	0.14%	-1.9%	Q2 2013
HSYHershey Co	$141M	2.02%	0.37%	-1.2%	Q1 2022
HDHome Depot, Inc.	$140M	2.00%	0.03%	-1.7%	Q2 2013
BRBroadridge Financial Solutions, Inc.	$139M	1.98%	0.50%	-2.3%	Q2 2013
MDLZMondelez International, Inc.	$139M	1.98%	0.17%	+324.5%	Q2 2025
PGRProgressive Corp	$137M	1.95%	0.09%	-1.3%	Q2 2013
PAYXPaychex Inc	$130M	1.86%	0.29%	-1.7%	Q2 2013
DEODiageo PLC	$130M	1.86%	0.06%	+0.9%	Q2 2013
FNFFidelity National Financial, Inc.	$129M	1.85%	0.79%	-1.8%	Q2 2013
CVXChevron Corp	$129M	1.85%	0.04%	-1.5%	Q2 2013
ETREntergy Corp	$126M	1.80%	0.30%	-1.7%	Q1 2019
AWKAmerican Water Works Company, Inc.	$120M	1.71%	0.44%	-1.6%	Q1 2019
CSCOCisco Systems, Inc.	$117M	1.67%	0.04%	-1.8%	Q4 2018
CLXClorox Co	$115M	1.64%	0.76%	-1.1%	Q2 2013
KMIKinder Morgan, Inc.	$107M	1.53%	0.17%	-1.2%	Q2 2013
GILDGilead Sciences, Inc.	$106M	1.51%	0.08%	-1.7%	Q2 2014
CLColgate Palmolive Co	$103M	1.48%	0.16%	-1.1%	Q2 2013
TROWPrice T Rowe Group Inc	$99.9M	1.43%	0.44%	+2.7%	Q2 2013
WRBBerkley W R Corp	$94.4M	1.35%	0.32%	-2.6%	Q2 2013
USBUS Bancorp \de\	$93.5M	1.33%	0.12%	-1.0%	Q2 2017
MAMastercard Inc	$92.1M	1.31%	0.01%	-2.8%	Q2 2013
TJXTJX Companies Inc	$87.2M	1.24%	0.05%	-2.2%	Q2 2013
MSFTMicrosoft Corp	$83.8M	1.20%	0.00%	-2.1%	Q2 2013
SYKStryker Corp	$83.7M	1.19%	0.06%	-2.7%	Q2 2013
ARCCAres Capital Corp	$75.2M	1.07%	0.51%	-3.0%	Q2 2013
NDSNNordson Corp	$75M	1.07%	0.59%	-1.7%	Q4 2018
SPGIS&P Global Inc.	$70.5M	1.01%	0.05%	-2.2%	Q1 2022
PAYCPaycom Software, Inc.	$68.1M	0.97%	0.59%	-4.3%	Q2 2024
GOOGAlphabet Inc.	$67.5M	0.96%	Not reported	-1.8%	Q3 2015
MASMasco Corp	$61.1M	0.87%	0.42%	-2.0%	Q3 2022
ITWIllinois Tool Works Inc	$58.1M	0.83%	0.08%	-2.1%	Q2 2013
KEYSKeysight Technologies, Inc.	$57.2M	0.82%	0.19%	-1.9%	Q1 2023
UPSUnited Parcel Service Inc	$56.9M	0.81%	0.10%	+1.5%	Q4 2023
LOWLowes Companies Inc	$56.3M	0.80%	0.04%	-1.4%	Q2 2013
GGGGraco Inc	$55.6M	0.79%	0.39%	-2.4%	Q2 2013
APDAir Products & Chemicals, Inc.	$55.2M	0.79%	0.09%	-1.7%	Q2 2013
ACNAccenture plc	$51.6M	0.74%	0.03%	+6611.2%	Q2 2017
BRK.BBerkshire Hathaway Inc	$50.7M	0.72%	Not reported	-1.1%	Q2 2013
NXPINXP Semiconductors N.V.	$48M	0.68%	0.08%	-1.1%	Q2 2013
DOWDow Inc.	$45M	0.64%	0.28%	+10.9%	Q2 2016
WYWeyerhaeuser Co	$43.7M	0.62%	0.24%	-7.9%	Q2 2013
TMOThermo Fisher Scientific Inc.	$40.4M	0.58%	0.02%	-0.3%	Q2 2013

Premium opens every quarter this fund has filed