Fund Holdings — CONFLUENCE INVESTMENT MANAGEMENT LLC

Total Portfolio Value
$7.01B
Total Bought
$375.98M
Total Sold
$820.33M
Net Transaction
-$444.35M
Filing Period:
Securities
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SharesValue ($K)
Q2 2025
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Q3 2025
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Change
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Q2 2025
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Q3 2025
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Weight (%)
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Change
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Mondelez International Inc.(MDLZ)523,9342,223,914+1,699,98035,334138,9281.98%+103,594
Accenture plc
SHS CLASS A
3,118209,255+206,13793251,6020.74%+50,670
iShares iBonds Dec 2035 Term T
IBONDS DEC 2035
0886,173+886,173022,6240.32%+22,624
McCormick & Company Inc.(MKC)0322,216+322,216021,5590.31%+21,559
Fastenal Co.(FAST)3,280,0093,214,964-65,045137,760157,6622.25%+19,901
Alphabet Inc.(GOOG)282,383277,189-5,19450,09267,5090.96%+17,417
Copart Inc.(CPRT)0335,829+335,829015,1020.22%+15,102
Snap-on Inc.(SNA)501,531492,183-9,348156,066170,5562.43%+14,490
Hershey Co.(HSY)764,392755,135-9,257126,851141,2482.02%+14,397
iShares Core MSCI Europe ETF
CORE MSCI EURO
0180,698+180,698012,3090.18%+12,309
Entergy Corp.(ETR)1,375,0001,352,347-22,653114,290126,0251.80%+11,735
WEC Energy Group Inc.(WEC)1,419,0751,390,656-28,419147,868159,3552.27%+11,488
SPDR Portfolio Developed World
ST STR PO EX ETF
1,276,7821,474,350+197,56851,69763,0870.90%+11,391
Home Depot Inc.(HD)351,141345,296-5,845128,742139,9112.00%+11,168
TJX Co. Inc.(TJX)617,159603,340-13,81976,21387,2071.24%+10,994
iShares iBonds Dec 2028 Term C
IBDS DEC28 ETF
0399,602+399,602010,1980.15%+10,198
Lockheed Martin Corp.(LMT)300,098297,172-2,926138,988148,3512.12%+9,363
iShares BB Rated Corporate Bon
BB RAT CORP BD
79,826270,829+191,0033,75212,8130.18%+9,061
Avantis International Small Ca098,253+98,25308,7470.12%+8,747
T. Rowe Price Group Inc.(TROW)948,453973,769+25,31691,52699,9481.43%+8,422
Chevron Corp.(CVX)845,635832,901-12,734121,087129,3411.85%+8,255
Vail Resorts Inc.(MTN)054,555+54,55508,1600.12%+8,160
Invesco BulletShares 2034 Muni
BULLETSHARE 2034
12,577340,971+328,3942988,2960.12%+7,998
iShares MBS ETF288,361366,497+78,13627,07434,8720.50%+7,798
Fidelity National Financial In(FNF)2,179,0392,139,098-39,941122,157129,3941.85%+7,237
Thermo Fisher Scientific Inc.(TMO)83,47683,223-25333,84640,3650.58%+6,519
iShares 1-5 Year Investment Gr0120,237+120,23706,3760.09%+6,376
iShares iBonds Dec 2027 Term C
IBONDS 27 ETF
162,767416,135+253,3683,95010,1290.14%+6,178
Lowe's Co. Inc.(LOW)227,133223,924-3,20950,39456,2750.80%+5,880
Northern Trust Corp.(NTRS)1,184,6101,157,462-27,148150,197155,7942.22%+5,598
U.S. Bancorp(USB)1,952,9751,933,812-19,16388,37293,4611.33%+5,089
SPDR Portfolio S&P 500 Growth
ST STR P500GRW
272,594293,303+20,70925,98430,6530.44%+4,669
Martin Marietta Materials Inc.(MLM)62,45861,391-1,06734,28738,6930.55%+4,407
Masco Corp.(MAS)886,059868,229-17,83057,02761,1150.87%+4,088
SPDR S&P 400 Mid Cap Growth ET
ST STR SP400GRW
207,668239,887+32,21918,04021,9640.31%+3,924
Cavco Industries Inc.(CVCO)7,55812,287+4,7293,2837,1350.10%+3,852
iShares Russell 1000 Value ETF2,90318,923+16,0205643,8530.05%+3,289
Donaldson Co. Inc.(DCI)312,679303,816-8,86321,68424,8670.35%+3,183
General Dynamics Corp.(GD)82,31079,726-2,58424,00727,1870.39%+3,180
Nordson Corp.(NDSN)336,090330,517-5,57372,04875,0111.07%+2,963
SPDR Gold MiniShares Trust ETF(GLDM)525,606488,393-37,21334,43837,3380.53%+2,900
Keysight Technologies Inc.(KEYS)333,369326,940-6,42954,62657,1880.82%+2,563
Dimensional National Municipal
NATL MUN BD ETF
167,895216,392+48,4977,96310,3820.15%+2,419
A. O. Smith Corp.(AOS)331,666329,070-2,59621,74724,1570.34%+2,410
Vontier Corp.(VNT)458,954449,691-9,26316,93518,8740.27%+1,938
Illinois Tool Works Inc.(ITW)227,732222,916-4,81656,30758,1280.83%+1,821
Southern Co.(SO)1,579,4541,549,426-30,028145,041146,8392.09%+1,798
Analog Devices Inc.(ADI)625,895613,557-12,338148,975150,7512.15%+1,775
Clorox Co.(CLX)941,510931,093-10,417113,047114,8041.64%+1,757
SPDR Nuveen S&P High Yield Mun
ST NUVE HIGH ETF
41,157106,825+65,6681,0202,6630.04%+1,643
Microsoft Corp.(MSFT)165,187161,782-3,40582,16583,7951.20%+1,630
W. R. Berkley Corp.1,264,2891,231,537-32,75292,88794,3601.35%+1,473
NXP Semiconductors N.V.
COM
212,998210,735-2,26346,53847,9910.68%+1,453
Littelfuse Inc.(LFUS)05,265+5,26501,3640.02%+1,364
TripAdvisor Inc.(TRIP)654,618604,909-49,7098,5439,8360.14%+1,293
Disco Corp.040,368+40,36801,2660.02%+1,266
Sea Ltd.(SE)07,007+7,00701,2520.02%+1,252
Medtronic plc(MDT)209,424204,759-4,66518,25619,5010.28%+1,246
Agnico Eagle Mines Ltd.(AEM)20,39021,761+1,3712,4253,6680.05%+1,243
Berkshire Hathaway Inc. - B101,968100,876-1,09249,53350,7150.72%+1,181
Becton Dickinson & Co.(BDX)80,61480,263-35113,88615,0230.21%+1,137
First Quantum Minerals Ltd.047,892+47,89201,0820.02%+1,082
Toro Co.(TORO)226,518224,017-2,50116,01017,0700.24%+1,060
Hong Kong Exchanges and Cleari3,86221,636+17,7742081,2280.02%+1,020
Amglo Am PLC ADR053,301+53,30101,0120.01%+1,012
New Jersey Resources Corp.(NJR)431,907423,035-8,87219,35820,3690.29%+1,011
Expeditors International of Wa(EXPD)181,391177,080-4,31120,72421,7080.31%+984
Invesco Bulletshares 2033 Muni
BULLE MUN ETF
214,054248,222+34,1685,3666,3410.09%+974
UFP Industries Inc(UFPI)12,68623,414+10,7281,2602,1890.03%+929
Aberdeen Standard Physical Pla6,78310,741+3,9588331,5350.02%+701
JBT Marel Corp.(JBTM)94,73085,680-9,05011,39212,0340.17%+642
ResMed Inc.(RMD)115,063110,658-4,40529,68630,2900.43%+604
Knowles Corp.(KN)153,317140,357-12,9602,7013,2720.05%+570
Uranium Energy Corp.(UEC)69,97474,048+4,0744769880.01%+512
Antofagasta plc27,69430,684+2,9907111,1480.02%+436
Lynas Rare Earths Ltd.038,850+38,85004330.01%+433
Newmont Mining Corp.(NEM)12,62713,703+1,0767361,1550.02%+420
Ramaco Resources Inc(METC)012,241+12,24104060.01%+406
Southern Copper Corp.(SCCO)5,9828,287+2,3056051,0060.01%+400
Core Natural Resources Inc.(CNR)15,12417,225+2,1011,0551,4380.02%+383
Invesco BulletShares 2028 Muni
BULSHS 2028 MUNI
112,298126,710+14,4122,6092,9670.04%+358
Movado Group Inc.(MOV)152,649141,183-11,4662,3282,6780.04%+350
Alamos Gold Inc.26,98929,991+3,0027171,0450.01%+329
McDonald's Corp.(MCD)78,20276,265-1,93722,84823,1760.33%+328
iShares Silver Trust ETF(SLV)22,38724,673+2,2867351,0450.01%+311
Denison Mines Corp.(DNN)266,880289,028+22,1484867950.01%+309
ASML Holding N.V.
N Y REGISTRY SHS
1,1791,287+1089451,2460.02%+301
MP Materials Corp.(MP)04,460+4,46002990.00%+299
Techtronic Industries Co. Ltd.17,01419,392+2,3789411,2380.02%+297
ING Groep N.V.(ING)49,23352,501+3,2681,0771,3690.02%+293
Mitsubishi UFJ Financial(MUFG)96,217101,117+4,9001,3201,6120.02%+292
Airbus SE04,864+4,86402830.00%+283
Gold Fields Ltd.(GFI)16,03715,364-6733806450.01%+265
Charles River Laboratories Int(CRL)97,22695,963-1,26314,75215,0140.21%+262
Mitsui & Co. Ltd.1,7061,909+2036949480.01%+253
Yum China Holdings Inc.(YUMC)05,440+5,44002330.00%+233
ZTO Express Cayman Inc.(ZTO)012,150+12,15002330.00%+233
H World Group Ltd.(HTHT)05,944+5,94402320.00%+232
Infosys Ltd.(INFY)014,139+14,13902300.00%+230
Baidu Inc.01,740+1,74002290.00%+229
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CONFLUENCE INVESTMENT MANAGEMENT LLC — 13F Holdings — Q3 2025 | TickerTrail