Fund Holdings — CONFLUENCE INVESTMENT MANAGEMENT LLC

Total Portfolio Value
$6.44B
Total Bought
$348.67M
Total Sold
$903.76M
Net Transaction
-$555.09M
Filing Period:
Securities
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SharesValue ($K)
Q4 2025
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Q1 2026
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Change
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Q4 2025
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Q1 2026
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Weight (%)
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Change
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Dow Inc.(DOW)1,589,6131,870,348+280,73537,16577,9001.21%+40,735
Chevron Corp.(CVX)801,450772,243-29,207122,149159,7772.48%+37,628
Mondelez International Inc.(MDLZ)1,742,0512,112,856+370,80593,775121,7851.89%+28,010
Lockheed Martin Corp.(LMT)285,228269,640-15,588137,956162,9682.53%+25,012
RLI Corp.(RLI)22,319382,149+359,8301,42821,7980.34%+20,370
Entergy Corp.(ETR)1,287,7341,229,287-58,447119,025138,1232.14%+19,097
Clorox Co.(CLX)776,196932,575+156,37978,26496,6431.50%+18,379
Carrier Global Corp.(CARR)210,732511,137+300,40511,13528,7820.45%+17,647
Kinder Morgan Inc.(KMI)3,637,0353,489,006-148,02999,982116,9861.82%+17,004
Hershey Co.(HSY)697,914690,349-7,565127,006143,5172.23%+16,510
Air Products and Chemicals Inc190,299217,487+27,18847,00863,1780.98%+16,170
Morningstar Inc.(MORN)71,033177,568+106,53515,43630,0180.47%+14,582
Trex Company Inc.(TREX)0390,641+390,641014,2270.22%+14,227
Linde plc(LIN)297,323283,072-14,251126,776140,3362.18%+13,560
Fastenal Co.(FAST)3,093,1162,966,722-126,394124,127137,6562.14%+13,529
Analog Devices Inc.(ADI)585,879540,640-45,239158,890171,9992.67%+13,109
Honeywell International Inc.(HON)517,167499,862-17,305100,894112,9841.75%+12,090
Constellation Brands(STZ)108,744171,647+62,90315,00225,7470.40%+10,745
iShares iBonds Dec 2033 Term T637,2491,081,896+444,64715,64826,3870.41%+10,740
SPDR Portfolio S&P 500 Value E603,839790,404+186,56534,30444,7210.69%+10,417
iShares iBonds Dec 2032 Term T397,180804,094+406,9149,16518,4380.29%+9,273
Gilead Sciences Inc.(GILD)909,835861,023-48,812111,673120,0011.86%+8,328
iShares MSCI Global Metals & M
MSCI GBL ETF NEW
0143,972+143,97208,1470.13%+8,147
Southern Co.(SO)1,485,5761,421,871-63,705129,542137,2392.13%+7,697
EOG Resources Inc.(EOG)163,772165,675+1,90317,19823,9520.37%+6,754
American Water Works Co. Inc.792,993809,958+16,965103,486110,2271.71%+6,742
Diageo plc(DEO)1,098,3201,353,434+255,11494,752100,7631.56%+6,011
VanEck Gold Miners ETF
GOLD MINERS ETF
063,691+63,69105,8450.09%+5,845
Invesco BulletShares 2035 Muni
BULTSHS 2035 MUN
0223,117+223,11705,6070.09%+5,607
iShares 1-5 Year Investment Gr123,761225,126+101,3656,54411,8330.18%+5,288
iShares iBonds Dec 2034 Term T
IBONDS DEC 2034
716,175919,178+203,00318,48423,5590.37%+5,074
Colgate-Palmolive Co.(CL)1,286,6441,250,090-36,554101,671106,5451.65%+4,875
Toro Co.(TORO)241,309250,943+9,63418,99623,4480.36%+4,452
Invesco BulletShares 2031 Muni154,431311,374+156,9433,2646,5020.10%+3,238
WEC Energy Group Inc.(WEC)1,327,4201,237,016-90,404139,990143,2092.22%+3,220
Nordson Corp.(NDSN)328,669308,267-20,40279,02282,0181.27%+2,996
Valvoline Inc.(VVV)403,942431,559+27,61711,73914,5350.23%+2,796
New Jersey Resources Corp.(NJR)438,685416,958-21,72720,23222,8990.36%+2,667
Invesco BulletShares 2032 Munc
BULLETSHS 32 MUN
109,012212,666+103,6542,7375,2860.08%+2,548
Invesco BulletShares 2029 Muni
BULSHS 2029 MUNI
0104,378+104,37802,4030.04%+2,403
Woodside Energy Group Ltd.(WDS)087,146+87,14602,0810.03%+2,081
State Street Communication Ser
ST STR SVC ETF
016,120+16,12001,7870.03%+1,787
Cenovus Energy Inc.(CVE)063,727+63,72701,6910.03%+1,691
Vista Energy S.A.B. de C.V.(VIST)8,27126,827+18,5564022,0250.03%+1,622
Brown-Forman Corp. - B(BF-A)1,194,8061,237,621+42,81531,13732,7230.51%+1,586
Shell plc(SHEL)016,435+16,43501,5280.02%+1,528
VanEck Junior Gold Miners ETF
JUNIOR GOLD MINE
012,491+12,49101,4990.02%+1,499
Canadian Natural Resources Ltd(CNQ)030,370+30,37001,4800.02%+1,480
A. O. Smith Corp.(AOS)294,451319,075+24,62419,69321,0400.33%+1,347
Zoetis Inc.(ZTS)124,555141,863+17,30815,67216,7700.26%+1,098
Starbucks Corp.(SBUX)322,455315,131-7,32427,15428,2330.44%+1,079
Lynas Rare Earths Ltd.43,57799,106+55,5293601,3360.02%+976
LunR Royalties Corp.041,801+41,80109200.01%+920
Agnico Eagle Mines Ltd.(AEM)22,58923,296+7073,8304,7290.07%+899
Illinois Tool Works Inc.(ITW)215,911207,159-8,75253,17953,9210.84%+743
Franklin Electric Co. Inc.(FELE)07,033+7,03306480.01%+648
i3 Verticals Inc.(IIIV)82,095120,314+38,2192,0682,6900.04%+622
Exxon Mobil Corp.8,8849,331+4471,0691,5830.02%+514
Glencore plc115,912117,159+1,2471,2671,7780.03%+512
Disco Corp.40,36442,798+2,4341,2291,7400.03%+510
ASML Holding N.V.
N Y REGISTRY SHS
1,3371,440+1031,4301,9020.03%+472
Core Natural Resources Inc.(CNR)20,97922,176+1,1971,8572,3220.04%+466
Arch Capital Group Ltd.
ORD
359,733364,086+4,35334,50634,9490.54%+443
Mitsui & Co. Ltd.2,2472,253+61,3181,7470.03%+429
Coterra Energy Inc.36,51539,307+2,7929611,3810.02%+420
Hong Kong Exchanges and Cleari20,91129,563+8,6521,0901,4970.02%+407
SPDR S&P Dividend ETF
ST STR SP DIV
69,34268,710-6329,65010,0280.16%+378
Avantis International Small Ca124,409120,837-3,57211,69112,0670.19%+376
Tokio Marine Holdings Inc.(TKOMF)28,89730,534+1,6371,0691,4390.02%+371
Kayne Anderson BDC(KBDC)46,41074,967+28,5576651,0290.02%+364
BAE Systems plc12,79213,305+5131,1881,5500.02%+362
MSC Income Fund(MSIF)25,15754,855+29,6983316680.01%+338
Techtronic Industries Co. Ltd.19,52021,543+2,0231,1241,4330.02%+309
Komatsu Ltd.23,54426,907+3,3637481,0560.02%+309
Taiwan Semiconductor Manufactu(TSM)8,6348,597-372,6242,9050.05%+282
EQT Corp.(EQT)20,11621,354+1,2381,0781,3590.02%+281
Franco-Nevada Corp.(FNV)5,6945,863+1691,1801,4480.02%+268
Southern Copper Corp.(SCCO)9,4049,322-821,3491,6040.02%+255
Capital Southwest Corp.(CSWC)83,81095,339+11,5291,8562,1090.03%+253
Denison Mines Corp.(DNN)321,204313,086-8,1188541,1050.02%+251
Mitsubishi UFJ Financial(MUFG)103,912111,432+7,5201,6481,8910.03%+243
Alamos Gold Inc.34,67335,226+5531,3381,5650.02%+227
Freeport-McMoRan Inc.(FCX)22,15722,870+7131,1251,3440.02%+219
NexGen Energy Ltd(NXE)90,13890,230+928291,0470.02%+217
Global X Defense Tech ETF
DEFENSE TECH ETF
131,438123,276-8,1628,5168,7330.14%+217
VanEck Vectors Long Municipal
LONG MUNI ETF
157,054169,953+12,8992,7532,9640.05%+211
Costco Wholesale Corp.(COST)0210+21002090.00%+209
Lundin Mining Corp.69,12668,086-1,0401,4881,6960.03%+208
Royal Gold Inc.(RGLD)5,8355,877+421,2971,4960.02%+199
Vale S.A.011,998+11,99801910.00%+191
Betterware de Mexico S.A.P.I.
SHS
010,328+10,32801740.00%+174
Wheaton Precious Metals Corp.(WPM)10,38910,617+2281,2211,3910.02%+170
Cameco Corp.(CCJ)8,9099,022+1138159800.02%+165
DBS Group Holdings Ltd.9,0649,783+7191,5921,7540.03%+162
Becton Dickinson & Co.(BDX)74,94093,498+18,55814,54414,7010.23%+157
iShares National Muni Bond ETF29,93331,662+1,7293,2063,3610.05%+155
Curtiss-Wright Corp.(CW)1,1601,16006397900.01%+151
SPDR Nuveen Barclays Capital S
ST NUVE TERM ETF
58,01761,292+3,2752,7842,9320.05%+147
ESAB Corp.(ESAB)8,93211,817+2,8859981,1420.02%+144
iShares iBonds Dec 2028 Term M
IBONDS DEC 28
93,34699,101+5,7552,3872,5300.04%+143
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CONFLUENCE INVESTMENT MANAGEMENT LLC — 13F Holdings — Q1 2026 | TickerTrail