CONFLUENCE INVESTMENT MANAGEMENT LLC
Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q2 2025 ▲▼ | Q3 2025 ▲▼ | Change ▲▼ | Q2 2025 ▲▼ | Q3 2025 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| Mondelez International Inc.(MDLZ) | 523,934 | 2,223,914 | +1,699,980 | 35,334,109 | 138,927,907 | 1.98% | +103,593,798 |
| Accenture plc | 3,118 | 209,255 | +206,137 | 931,939 | 51,602,283 | 0.74% | +50,670,344 |
| iShares iBonds Dec 2035 Term T | 0 | 886,173 | +886,173 | 0 | 22,624,085 | 0.32% | +22,624,085 |
| McCormick & Company Inc.(MKC) | 0 | 322,216 | +322,216 | 0 | 21,559,473 | 0.31% | +21,559,473 |
| Fastenal Co.(FAST) | 3,280,009 | 3,214,964 | -65,045 | 137,760,369 | 157,661,858 | 2.25% | +19,901,489 |
| Alphabet Inc.(GOOG) | 282,383 | 277,189 | -5,194 | 50,091,934 | 67,509,419 | 0.96% | +17,417,485 |
| Copart Inc.(CPRT) | 0 | 335,829 | +335,829 | 0 | 15,102,230 | 0.22% | +15,102,230 |
| Snap-on Inc.(SNA) | 501,531 | 492,183 | -9,348 | 156,066,459 | 170,556,002 | 2.43% | +14,489,543 |
| Hershey Co.(HSY) | 764,392 | 755,135 | -9,257 | 126,850,784 | 141,247,986 | 2.02% | +14,397,202 |
| iShares Core MSCI Europe ETF | 0 | 180,698 | +180,698 | 0 | 12,309,148 | 0.18% | +12,309,148 |
| Entergy Corp.(ETR) | 1,375,000 | 1,352,347 | -22,653 | 114,289,975 | 126,025,202 | 1.80% | +11,735,227 |
| WEC Energy Group Inc.(WEC) | 1,419,075 | 1,390,656 | -28,419 | 147,867,617 | 159,355,242 | 2.27% | +11,487,625 |
| SPDR Portfolio Developed World | 1,276,782 | 1,474,350 | +197,568 | 51,696,903 | 63,087,437 | 0.90% | +11,390,534 |
| Home Depot Inc.(HD) | 351,141 | 345,296 | -5,845 | 128,742,257 | 139,910,569 | 2.00% | +11,168,312 |
| TJX Co. Inc.(TJX) | 617,159 | 603,340 | -13,819 | 76,213,043 | 87,206,809 | 1.24% | +10,993,766 |
| iShares iBonds Dec 2028 Term C | 0 | 399,602 | +399,602 | 0 | 10,197,832 | 0.15% | +10,197,832 |
| Lockheed Martin Corp.(LMT) | 300,098 | 297,172 | -2,926 | 138,987,687 | 148,351,151 | 2.12% | +9,363,464 |
| iShares BB Rated Corporate Bon | 79,826 | 270,829 | +191,003 | 3,751,822 | 12,812,920 | 0.18% | +9,061,098 |
| Avantis International Small Ca | 0 | 98,253 | +98,253 | 0 | 8,747,464 | 0.12% | +8,747,464 |
| T. Rowe Price Group Inc.(TROW) | 948,453 | 973,769 | +25,316 | 91,525,678 | 99,947,677 | 1.43% | +8,421,999 |
| Chevron Corp.(CVX) | 845,635 | 832,901 | -12,734 | 121,086,533 | 129,341,248 | 1.85% | +8,254,715 |
| Vail Resorts Inc.(MTN) | 0 | 54,555 | +54,555 | 0 | 8,159,792 | 0.12% | +8,159,792 |
| Invesco BulletShares 2034 Muni | 12,577 | 340,971 | +328,394 | 298,279 | 8,295,824 | 0.12% | +7,997,545 |
| iShares MBS ETF | 288,361 | 366,497 | +78,136 | 27,074,185 | 34,872,160 | 0.50% | +7,797,975 |
| Fidelity National Financial In(FNF) | 2,179,039 | 2,139,098 | -39,941 | 122,156,927 | 129,394,058 | 1.85% | +7,237,131 |
| Thermo Fisher Scientific Inc.(TMO) | 83,476 | 83,223 | -253 | 33,846,069 | 40,364,708 | 0.58% | +6,518,639 |
| iShares 1-5 Year Investment Gr | 0 | 120,237 | +120,237 | 0 | 6,376,168 | 0.09% | +6,376,168 |
| iShares iBonds Dec 2027 Term C | 162,767 | 416,135 | +253,368 | 3,950,357 | 10,128,728 | 0.14% | +6,178,371 |
| Lowe's Co. Inc.(LOW) | 227,133 | 223,924 | -3,209 | 50,394,072 | 56,274,541 | 0.80% | +5,880,469 |
| Northern Trust Corp.(NTRS) | 1,184,610 | 1,157,462 | -27,148 | 150,196,703 | 155,794,412 | 2.22% | +5,597,709 |
| U.S. Bancorp(USB) | 1,952,975 | 1,933,812 | -19,163 | 88,372,099 | 93,461,119 | 1.33% | +5,089,020 |
| SPDR Portfolio S&P 500 Growth | 272,594 | 293,303 | +20,709 | 25,983,600 | 30,653,034 | 0.44% | +4,669,434 |
| Martin Marietta Materials Inc.(MLM) | 62,458 | 61,391 | -1,067 | 34,286,824 | 38,693,381 | 0.55% | +4,406,557 |
| Masco Corp.(MAS) | 886,059 | 868,229 | -17,830 | 57,026,726 | 61,114,632 | 0.87% | +4,087,906 |
| SPDR S&P 400 Mid Cap Growth ET | 207,668 | 239,887 | +32,219 | 18,040,053 | 21,964,030 | 0.31% | +3,923,977 |
| Cavco Industries Inc.(CVCO) | 7,558 | 12,287 | +4,729 | 3,283,422 | 7,135,429 | 0.10% | +3,852,007 |
| iShares Russell 1000 Value ETF | 2,903 | 18,923 | +16,020 | 563,850 | 3,852,534 | 0.05% | +3,288,684 |
| Donaldson Co. Inc.(DCI) | 312,679 | 303,816 | -8,863 | 21,684,307 | 24,867,323 | 0.35% | +3,183,016 |
| General Dynamics Corp.(GD) | 82,310 | 79,726 | -2,584 | 24,006,678 | 27,186,722 | 0.39% | +3,180,044 |
| Nordson Corp.(NDSN) | 336,090 | 330,517 | -5,573 | 72,047,535 | 75,010,794 | 1.07% | +2,963,259 |
| SPDR Gold MiniShares Trust ETF(GLDM) | 525,606 | 488,393 | -37,213 | 34,437,738 | 37,337,645 | 0.53% | +2,899,907 |
| Keysight Technologies Inc.(KEYS) | 333,369 | 326,940 | -6,429 | 54,625,845 | 57,188,345 | 0.82% | +2,562,500 |
| Dimensional National Municipal | 167,895 | 216,392 | +48,497 | 7,963,250 | 10,382,488 | 0.15% | +2,419,238 |
| A. O. Smith Corp.(AOS) | 331,666 | 329,070 | -2,596 | 21,747,309 | 24,157,045 | 0.34% | +2,409,736 |
| Vontier Corp.(VNT) | 458,954 | 449,691 | -9,263 | 16,935,419 | 18,873,551 | 0.27% | +1,938,132 |
| Illinois Tool Works Inc.(ITW) | 227,732 | 222,916 | -4,816 | 56,306,720 | 58,127,692 | 0.83% | +1,820,972 |
| Southern Co.(SO) | 1,579,454 | 1,549,426 | -30,028 | 145,041,268 | 146,839,112 | 2.09% | +1,797,844 |
| Analog Devices Inc.(ADI) | 625,895 | 613,557 | -12,338 | 148,975,443 | 150,750,915 | 2.15% | +1,775,472 |
| Clorox Co.(CLX) | 941,510 | 931,093 | -10,417 | 113,047,158 | 114,803,803 | 1.64% | +1,756,645 |
| SPDR Nuveen S&P High Yield Mun | 41,157 | 106,825 | +65,668 | 1,019,870 | 2,663,147 | 0.04% | +1,643,277 |
| Microsoft Corp.(MSFT) | 165,187 | 161,782 | -3,405 | 82,165,369 | 83,794,983 | 1.20% | +1,629,614 |
| W. R. Berkley Corp. | 1,264,289 | 1,231,537 | -32,752 | 92,887,287 | 94,360,371 | 1.35% | +1,473,084 |
| NXP Semiconductors N.V. | 212,998 | 210,735 | -2,263 | 46,538,072 | 47,990,826 | 0.68% | +1,452,754 |
| Littelfuse Inc.(LFUS) | 0 | 5,265 | +5,265 | 0 | 1,363,688 | 0.02% | +1,363,688 |
| TripAdvisor Inc.(TRIP) | 654,618 | 604,909 | -49,709 | 8,542,764 | 9,835,821 | 0.14% | +1,293,057 |
| Disco Corp. | 0 | 40,368 | +40,368 | 0 | 1,265,537 | 0.02% | +1,265,537 |
| Sea Ltd.(SE) | 0 | 7,007 | +7,007 | 0 | 1,252,361 | 0.02% | +1,252,361 |
| Medtronic plc(MDT) | 209,424 | 204,759 | -4,665 | 18,255,508 | 19,501,288 | 0.28% | +1,245,780 |
| Agnico Eagle Mines Ltd.(AEM) | 20,390 | 21,761 | +1,371 | 2,424,992 | 3,668,046 | 0.05% | +1,243,054 |
| Berkshire Hathaway Inc. - B | 101,968 | 100,876 | -1,092 | 49,533,238 | 50,714,652 | 0.72% | +1,181,414 |
| Becton Dickinson & Co.(BDX) | 80,614 | 80,263 | -351 | 13,885,725 | 15,022,894 | 0.21% | +1,137,169 |
| First Quantum Minerals Ltd. | 0 | 47,892 | +47,892 | 0 | 1,082,359 | 0.02% | +1,082,359 |
| Toro Co. | 226,518 | 224,017 | -2,501 | 16,010,260 | 17,070,108 | 0.24% | +1,059,848 |
| Hong Kong Exchanges and Cleari | 3,862 | 21,636 | +17,774 | 207,969 | 1,228,059 | 0.02% | +1,020,090 |
| Amglo Am PLC ADR | 0 | 53,301 | +53,301 | 0 | 1,012,186 | 0.01% | +1,012,186 |
| New Jersey Resources Corp.(NJR) | 431,907 | 423,035 | -8,872 | 19,358,083 | 20,369,154 | 0.29% | +1,011,071 |
| Expeditors International of Wa(EXPD) | 181,391 | 177,080 | -4,311 | 20,723,974 | 21,708,293 | 0.31% | +984,319 |
| Invesco Bulletshares 2033 Muni | 214,054 | 248,222 | +34,168 | 5,366,344 | 6,340,831 | 0.09% | +974,487 |
| UFP Industries Inc(UFPI) | 12,686 | 23,414 | +10,728 | 1,260,481 | 2,188,989 | 0.03% | +928,508 |
| Aberdeen Standard Physical Pla | 6,783 | 10,741 | +3,958 | 833,427 | 1,534,674 | 0.02% | +701,247 |
| JBT Marel Corp.(JBTM) | 94,730 | 85,680 | -9,050 | 11,392,172 | 12,033,696 | 0.17% | +641,524 |
| ResMed Inc.(RMD) | 115,063 | 110,658 | -4,405 | 29,686,246 | 30,290,386 | 0.43% | +604,140 |
| Knowles Corp.(KN) | 153,317 | 140,357 | -12,960 | 2,701,446 | 3,271,721 | 0.05% | +570,275 |
| Uranium Energy Corp.(UEC) | 69,974 | 74,048 | +4,074 | 475,823 | 987,800 | 0.01% | +511,977 |
| Antofagasta plc | 27,694 | 30,684 | +2,990 | 711,182 | 1,147,582 | 0.02% | +436,400 |
| Lynas Rare Earths Ltd. | 0 | 38,850 | +38,850 | 0 | 432,789 | 0.01% | +432,789 |
| Newmont Mining Corp.(NEM) | 12,627 | 13,703 | +1,076 | 735,649 | 1,155,300 | 0.02% | +419,651 |
| Ramaco Resources Inc | 0 | 12,241 | +12,241 | 0 | 406,279 | 0.01% | +406,279 |
| Southern Copper Corp.(SCCO) | 5,982 | 8,287 | +2,305 | 605,227 | 1,005,685 | 0.01% | +400,458 |
| Core Natural Resources Inc.(CNR) | 15,124 | 17,225 | +2,101 | 1,054,748 | 1,437,943 | 0.02% | +383,195 |
| Invesco BulletShares 2028 Muni | 112,298 | 126,710 | +14,412 | 2,608,685 | 2,966,915 | 0.04% | +358,230 |
| Movado Group Inc.(MOV) | 152,649 | 141,183 | -11,466 | 2,327,903 | 2,678,245 | 0.04% | +350,342 |
| Alamos Gold Inc. | 26,989 | 29,991 | +3,002 | 716,828 | 1,045,486 | 0.01% | +328,658 |
| McDonald's Corp.(MCD) | 78,202 | 76,265 | -1,937 | 22,848,187 | 23,176,098 | 0.33% | +327,911 |
| iShares Silver Trust ETF(SLV) | 22,387 | 24,673 | +2,286 | 734,517 | 1,045,395 | 0.01% | +310,878 |
| Denison Mines Corp.(DNN) | 266,880 | 289,028 | +22,148 | 485,722 | 794,827 | 0.01% | +309,105 |
| ASML Holding N.V. | 1,179 | 1,287 | +108 | 944,839 | 1,245,932 | 0.02% | +301,093 |
| MP Materials Corp.(MP) | 0 | 4,460 | +4,460 | 0 | 299,132 | 0.00% | +299,132 |
| Techtronic Industries Co. Ltd. | 17,014 | 19,392 | +2,378 | 940,704 | 1,238,082 | 0.02% | +297,378 |
| ING Groep N.V.(ING) | 49,233 | 52,501 | +3,268 | 1,076,726 | 1,369,226 | 0.02% | +292,500 |
| Mitsubishi UFJ Financial(MUFG) | 96,217 | 101,117 | +4,900 | 1,320,097 | 1,611,805 | 0.02% | +291,708 |
| Airbus SE | 0 | 4,864 | +4,864 | 0 | 283,182 | 0.00% | +283,182 |
| Gold Fields Ltd.(GFI) | 16,037 | 15,364 | -673 | 379,596 | 644,673 | 0.01% | +265,077 |
| Charles River Laboratories Int(CRL) | 97,226 | 95,963 | -1,263 | 14,752,101 | 15,014,371 | 0.21% | +262,270 |
| Mitsui & Co. Ltd. | 1,706 | 1,909 | +203 | 694,342 | 947,799 | 0.01% | +253,457 |
| Yum China Holdings Inc.(YUMC) | 0 | 5,440 | +5,440 | 0 | 233,485 | 0.00% | +233,485 |
| ZTO Express Cayman Inc.(ZTO) | 0 | 12,150 | +12,150 | 0 | 233,280 | 0.00% | +233,280 |
| H World Group Ltd.(HTHT) | 0 | 5,944 | +5,944 | 0 | 232,470 | 0.00% | +232,470 |
| Infosys Ltd.(INFY) | 0 | 14,139 | +14,139 | 0 | 230,038 | 0.00% | +230,038 |
| Baidu Inc. | 0 | 1,740 | +1,740 | 0 | 229,280 | 0.00% | +229,280 |