CONFLUENCE INVESTMENT MANAGEMENT LLC
Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q4 2025 ▲▼ | Q1 2026 ▲▼ | Change ▲▼ | Q4 2025 ▲▼ | Q1 2026 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| Dow Inc.(DOW) | 1,589,613 | 1,870,348 | +280,735 | 37,165,154 | 77,899,987 | 1.21% | +40,734,833 |
| Chevron Corp.(CVX) | 801,450 | 772,243 | -29,207 | 122,148,943 | 159,777,005 | 2.48% | +37,628,062 |
| Mondelez International Inc.(MDLZ) | 1,742,051 | 2,112,856 | +370,805 | 93,774,594 | 121,785,025 | 1.89% | +28,010,431 |
| Lockheed Martin Corp.(LMT) | 285,228 | 269,640 | -15,588 | 137,956,084 | 162,968,034 | 2.53% | +25,011,950 |
| RLI Corp.(RLI) | 22,319 | 382,149 | +359,830 | 1,427,983 | 21,797,791 | 0.34% | +20,369,808 |
| Entergy Corp.(ETR) | 1,287,734 | 1,229,287 | -58,447 | 119,025,286 | 138,122,664 | 2.14% | +19,097,378 |
| Clorox Co.(CLX) | 776,196 | 932,575 | +156,379 | 78,263,808 | 96,642,765 | 1.50% | +18,378,957 |
| Carrier Global Corp.(CARR) | 210,732 | 511,137 | +300,405 | 11,135,058 | 28,782,102 | 0.45% | +17,647,044 |
| Kinder Morgan Inc.(KMI) | 3,637,035 | 3,489,006 | -148,029 | 99,982,092 | 116,986,371 | 1.82% | +17,004,279 |
| Hershey Co.(HSY) | 697,914 | 690,349 | -7,565 | 127,006,345 | 143,516,523 | 2.23% | +16,510,178 |
| Air Products and Chemicals Inc | 190,299 | 217,487 | +27,188 | 47,007,663 | 63,177,853 | 0.98% | +16,170,190 |
| Morningstar Inc.(MORN) | 71,033 | 177,568 | +106,535 | 15,436,186 | 30,017,821 | 0.47% | +14,581,635 |
| Trex Company Inc.(TREX) | 0 | 390,641 | +390,641 | 0 | 14,227,145 | 0.22% | +14,227,145 |
| Linde plc(LIN) | 297,323 | 283,072 | -14,251 | 126,775,706 | 140,335,595 | 2.18% | +13,559,889 |
| Fastenal Co.(FAST) | 3,093,116 | 2,966,722 | -126,394 | 124,126,754 | 137,655,909 | 2.14% | +13,529,155 |
| Analog Devices Inc.(ADI) | 585,879 | 540,640 | -45,239 | 158,890,380 | 171,999,165 | 2.67% | +13,108,785 |
| Honeywell International Inc.(HON) | 517,167 | 499,862 | -17,305 | 100,894,106 | 112,983,728 | 1.75% | +12,089,622 |
| Constellation Brands(STZ) | 108,744 | 171,647 | +62,903 | 15,002,338 | 25,746,996 | 0.40% | +10,744,658 |
| iShares iBonds Dec 2033 Term T | 637,249 | 1,081,896 | +444,647 | 15,647,652 | 26,387,229 | 0.41% | +10,739,577 |
| SPDR Portfolio S&P 500 Value E | 603,839 | 790,404 | +186,565 | 34,304,090 | 44,721,069 | 0.69% | +10,416,979 |
| iShares iBonds Dec 2032 Term T | 397,180 | 804,094 | +406,914 | 9,164,938 | 18,438,196 | 0.29% | +9,273,258 |
| Gilead Sciences Inc.(GILD) | 909,835 | 861,023 | -48,812 | 111,673,185 | 120,000,813 | 1.86% | +8,327,628 |
| iShares MSCI Global Metals & M MSCI GBL ETF NEW | 0 | 143,972 | +143,972 | 0 | 8,147,375 | 0.13% | +8,147,375 |
| Southern Co.(SO) | 1,485,576 | 1,421,871 | -63,705 | 129,542,269 | 137,239,003 | 2.13% | +7,696,734 |
| EOG Resources Inc.(EOG) | 163,772 | 165,675 | +1,903 | 17,197,669 | 23,951,634 | 0.37% | +6,753,965 |
| American Water Works Co. Inc. | 792,993 | 809,958 | +16,965 | 103,485,624 | 110,227,194 | 1.71% | +6,741,570 |
| Diageo plc(DEO) | 1,098,320 | 1,353,434 | +255,114 | 94,752,104 | 100,763,191 | 1.56% | +6,011,087 |
| VanEck Gold Miners ETF GOLD MINERS ETF | 0 | 63,691 | +63,691 | 0 | 5,844,923 | 0.09% | +5,844,923 |
| Invesco BulletShares 2035 Muni BULTSHS 2035 MUN | 0 | 223,117 | +223,117 | 0 | 5,607,176 | 0.09% | +5,607,176 |
| iShares 1-5 Year Investment Gr | 123,761 | 225,126 | +101,365 | 6,544,482 | 11,832,623 | 0.18% | +5,288,141 |
| iShares iBonds Dec 2034 Term T IBONDS DEC 2034 | 716,175 | 919,178 | +203,003 | 18,484,108 | 23,558,521 | 0.37% | +5,074,413 |
| Colgate-Palmolive Co.(CL) | 1,286,644 | 1,250,090 | -36,554 | 101,670,581 | 106,545,167 | 1.65% | +4,874,586 |
| Toro Co. | 241,309 | 250,943 | +9,634 | 18,995,864 | 23,448,152 | 0.36% | +4,452,288 |
| Invesco BulletShares 2031 Muni | 154,431 | 311,374 | +156,943 | 3,263,899 | 6,501,583 | 0.10% | +3,237,684 |
| WEC Energy Group Inc.(WEC) | 1,327,420 | 1,237,016 | -90,404 | 139,989,716 | 143,209,371 | 2.22% | +3,219,655 |
| Nordson Corp.(NDSN) | 328,669 | 308,267 | -20,402 | 79,021,902 | 82,017,605 | 1.27% | +2,995,703 |
| Valvoline Inc.(VVV) | 403,942 | 431,559 | +27,617 | 11,738,555 | 14,534,907 | 0.23% | +2,796,352 |
| New Jersey Resources Corp.(NJR) | 438,685 | 416,958 | -21,727 | 20,232,172 | 22,899,346 | 0.36% | +2,667,174 |
| Invesco BulletShares 2032 Munc BULLETSHS 32 MUN | 109,012 | 212,666 | +103,654 | 2,737,291 | 5,285,558 | 0.08% | +2,548,267 |
| Invesco BulletShares 2029 Muni BULSHS 2029 MUNI | 0 | 104,378 | +104,378 | 0 | 2,403,178 | 0.04% | +2,403,178 |
| Woodside Energy Group Ltd.(WDS) | 0 | 87,146 | +87,146 | 0 | 2,081,046 | 0.03% | +2,081,046 |
| State Street Communication Ser ST STR SVC ETF | 0 | 16,120 | +16,120 | 0 | 1,787,063 | 0.03% | +1,787,063 |
| Cenovus Energy Inc.(CVE) | 0 | 63,727 | +63,727 | 0 | 1,690,677 | 0.03% | +1,690,677 |
| Vista Energy S.A.B. de C.V.(VIST) | 8,271 | 26,827 | +18,556 | 402,467 | 2,024,634 | 0.03% | +1,622,167 |
| Brown-Forman Corp. - B(BF-A) | 1,194,806 | 1,237,621 | +42,815 | 31,136,647 | 32,722,692 | 0.51% | +1,586,045 |
| Shell plc(SHEL) | 0 | 16,435 | +16,435 | 0 | 1,528,455 | 0.02% | +1,528,455 |
| VanEck Junior Gold Miners ETF JUNIOR GOLD MINE | 0 | 12,491 | +12,491 | 0 | 1,499,419 | 0.02% | +1,499,419 |
| Canadian Natural Resources Ltd(CNQ) | 0 | 30,370 | +30,370 | 0 | 1,479,930 | 0.02% | +1,479,930 |
| A. O. Smith Corp.(AOS) | 294,451 | 319,075 | +24,624 | 19,692,877 | 21,039,789 | 0.33% | +1,346,912 |
| Zoetis Inc.(ZTS) | 124,555 | 141,863 | +17,308 | 15,671,507 | 16,769,611 | 0.26% | +1,098,104 |
| Starbucks Corp.(SBUX) | 322,455 | 315,131 | -7,324 | 27,153,921 | 28,232,502 | 0.44% | +1,078,581 |
| Lynas Rare Earths Ltd. | 43,577 | 99,106 | +55,529 | 360,382 | 1,335,949 | 0.02% | +975,567 |
| LunR Royalties Corp. | 0 | 41,801 | +41,801 | 0 | 919,622 | 0.01% | +919,622 |
| Agnico Eagle Mines Ltd.(AEM) | 22,589 | 23,296 | +707 | 3,829,525 | 4,728,637 | 0.07% | +899,112 |
| Illinois Tool Works Inc.(ITW) | 215,911 | 207,159 | -8,752 | 53,178,815 | 53,921,447 | 0.84% | +742,632 |
| Franklin Electric Co. Inc.(FELE) | 0 | 7,033 | +7,033 | 0 | 648,231 | 0.01% | +648,231 |
| i3 Verticals Inc. | 82,095 | 120,314 | +38,219 | 2,067,973 | 2,690,221 | 0.04% | +622,248 |
| Exxon Mobil Corp. | 8,884 | 9,331 | +447 | 1,069,118 | 1,583,122 | 0.02% | +514,004 |
| Glencore plc | 115,912 | 117,159 | +1,247 | 1,266,918 | 1,778,474 | 0.03% | +511,556 |
| Disco Corp. | 40,364 | 42,798 | +2,434 | 1,229,487 | 1,739,739 | 0.03% | +510,252 |
| ASML Holding N.V. N Y REGISTRY SHS | 1,337 | 1,440 | +103 | 1,430,403 | 1,901,995 | 0.03% | +471,592 |
| Core Natural Resources Inc.(CNR) | 20,979 | 22,176 | +1,197 | 1,856,851 | 2,322,492 | 0.04% | +465,641 |
| Arch Capital Group Ltd. ORD | 359,733 | 364,086 | +4,353 | 34,505,589 | 34,948,615 | 0.54% | +443,026 |
| Mitsui & Co. Ltd. | 2,247 | 2,253 | +6 | 1,317,641 | 1,746,773 | 0.03% | +429,132 |
| Coterra Energy Inc. | 36,515 | 39,307 | +2,792 | 961,075 | 1,381,248 | 0.02% | +420,173 |
| Hong Kong Exchanges and Cleari | 20,911 | 29,563 | +8,652 | 1,089,881 | 1,497,366 | 0.02% | +407,485 |
| SPDR S&P Dividend ETF ST STR SP DIV | 69,342 | 68,710 | -632 | 9,649,632 | 10,027,537 | 0.16% | +377,905 |
| Avantis International Small Ca | 124,409 | 120,837 | -3,572 | 11,690,714 | 12,066,783 | 0.19% | +376,069 |
| Tokio Marine Holdings Inc. | 28,897 | 30,534 | +1,637 | 1,068,611 | 1,439,373 | 0.02% | +370,762 |
| Kayne Anderson BDC(KBDC) | 46,410 | 74,967 | +28,557 | 664,591 | 1,028,547 | 0.02% | +363,956 |
| BAE Systems plc | 12,792 | 13,305 | +513 | 1,188,121 | 1,550,032 | 0.02% | +361,911 |
| MSC Income Fund | 25,157 | 54,855 | +29,698 | 330,563 | 668,134 | 0.01% | +337,571 |
| Techtronic Industries Co. Ltd. | 19,520 | 21,543 | +2,023 | 1,123,962 | 1,433,040 | 0.02% | +309,078 |
| Komatsu Ltd. | 23,544 | 26,907 | +3,363 | 747,522 | 1,056,369 | 0.02% | +308,847 |
| Taiwan Semiconductor Manufactu(TSM) | 8,634 | 8,597 | -37 | 2,623,786 | 2,905,356 | 0.05% | +281,570 |
| EQT Corp.(EQT) | 20,116 | 21,354 | +1,238 | 1,078,218 | 1,358,969 | 0.02% | +280,751 |
| Franco-Nevada Corp.(FNV) | 5,694 | 5,863 | +169 | 1,180,252 | 1,448,454 | 0.02% | +268,202 |
| Southern Copper Corp.(SCCO) | 9,404 | 9,322 | -82 | 1,349,181 | 1,603,998 | 0.02% | +254,817 |
| Capital Southwest Corp.(CSWC) | 83,810 | 95,339 | +11,529 | 1,856,391 | 2,108,899 | 0.03% | +252,508 |
| Denison Mines Corp.(DNN) | 321,204 | 313,086 | -8,118 | 854,403 | 1,105,194 | 0.02% | +250,791 |
| Mitsubishi UFJ Financial(MUFG) | 103,912 | 111,432 | +7,520 | 1,648,044 | 1,891,001 | 0.03% | +242,957 |
| Alamos Gold Inc. | 34,673 | 35,226 | +553 | 1,337,684 | 1,565,091 | 0.02% | +227,407 |
| Freeport-McMoRan Inc.(FCX) | 22,157 | 22,870 | +713 | 1,125,354 | 1,344,299 | 0.02% | +218,945 |
| NexGen Energy Ltd(NXE) | 90,138 | 90,230 | +92 | 829,270 | 1,046,668 | 0.02% | +217,398 |
| Global X Defense Tech ETF DEFENSE TECH ETF | 131,438 | 123,276 | -8,162 | 8,515,868 | 8,732,872 | 0.14% | +217,004 |
| VanEck Vectors Long Municipal LONG MUNI ETF | 157,054 | 169,953 | +12,899 | 2,753,314 | 2,963,980 | 0.05% | +210,666 |
| Costco Wholesale Corp.(COST) | 0 | 210 | +210 | 0 | 209,250 | 0.00% | +209,250 |
| Lundin Mining Corp. | 69,126 | 68,086 | -1,040 | 1,487,592 | 1,696,022 | 0.03% | +208,430 |
| Royal Gold Inc.(RGLD) | 5,835 | 5,877 | +42 | 1,297,062 | 1,495,638 | 0.02% | +198,576 |
| Vale S.A. | 0 | 11,998 | +11,998 | 0 | 190,888 | 0.00% | +190,888 |
| Betterware de Mexico S.A.P.I. SHS | 0 | 10,328 | +10,328 | 0 | 174,130 | 0.00% | +174,130 |
| Wheaton Precious Metals Corp.(WPM) | 10,389 | 10,617 | +228 | 1,220,915 | 1,390,933 | 0.02% | +170,018 |
| Cameco Corp.(CCJ) | 8,909 | 9,022 | +113 | 815,084 | 979,879 | 0.02% | +164,795 |
| DBS Group Holdings Ltd. | 9,064 | 9,783 | +719 | 1,591,729 | 1,753,798 | 0.03% | +162,069 |
| Becton Dickinson & Co.(BDX) | 74,940 | 93,498 | +18,558 | 14,543,529 | 14,700,755 | 0.23% | +157,226 |
| iShares National Muni Bond ETF | 29,933 | 31,662 | +1,729 | 3,206,124 | 3,360,921 | 0.05% | +154,797 |
| Curtiss-Wright Corp.(CW) | 1,160 | 1,160 | 0 | 639,473 | 790,099 | 0.01% | +150,626 |
| SPDR Nuveen Barclays Capital S ST NUVE TERM ETF | 58,017 | 61,292 | +3,275 | 2,784,236 | 2,931,596 | 0.05% | +147,360 |
| ESAB Corp.(ESAB) | 8,932 | 11,817 | +2,885 | 997,883 | 1,142,231 | 0.02% | +144,348 |
| iShares iBonds Dec 2028 Term M IBONDS DEC 28 | 93,346 | 99,101 | +5,755 | 2,387,324 | 2,530,049 | 0.04% | +142,725 |