Confluence Investment Management Llc
Institutional manager — quarterly 13F holdings, Q ending 2026-03-31
Reported value
$6.44B
Q ending 2026-03-31
Prior quarter
$6.67B
Q ending 2025-12-31
Change
-3.5% QoQ · -7.3% YoY
Positions
283
reported holdings
Largest positions
Top 100 of 283 reported positions by value, Q ending 2026-03-31. A manager can hold shares, calls and puts on the same security at once — such positions are listed as separate rows. Type: Shares = common stock, Put/Call = option positions (valued at the underlying), Principal = debt. Tickers link to stock pages where covered.
| Holding | Ticker | Type | Value ▼ | Shares |
|---|---|---|---|---|
| Ishares 0-3 Month Treasury Bon | SGOV | Shares | $176.5M | 1.8M |
| Analog Devices Inc. | ADI | Shares | $172.0M | 541K |
| Lockheed Martin Corp. | LMT | Shares | $163.0M | 270K |
| Chevron Corp. | CVX | Shares | $159.8M | 772K |
| Snap-On Inc. | SNA | Shares | $158.3M | 436K |
| Chubb Ltd. | Shares | $157.1M | 482K | |
| Hershey Co. | HSY | Shares | $143.5M | 690K |
| Wec Energy Group Inc. | WEC | Shares | $143.2M | 1.2M |
| Linde Plc | Shares | $140.3M | 283K | |
| Entergy Corp. | ETR | Shares | $138.1M | 1.2M |
| Fastenal Co. | FAST | Shares | $137.7M | 3.0M |
| Southern Co. | SO | Shares | $137.2M | 1.4M |
| Mondelez International Inc. | MDLZ | Shares | $121.8M | 2.1M |
| Gilead Sciences Inc. | GILD | Shares | $120.0M | 861K |
| Cisco Systems Inc. | CSCO | Shares | $119.6M | 1.5M |
| Kinder Morgan Inc. | KMI | Shares | $117.0M | 3.5M |
| Progressive Corp. | PGR | Shares | $115.0M | 580K |
| Honeywell International Inc. | HONGBP | Shares | $113.0M | 500K |
| American Water Works Co. Inc. | AWK | Shares | $110.2M | 810K |
| Colgate-Palmolive Co. | CL | Shares | $106.5M | 1.3M |
| Home Depot Inc. | HD | Shares | $105.2M | 320K |
| Diageo Plc | DEO | Shares | $100.8M | 1.4M |
| Clorox Co. | CLX | Shares | $96.6M | 933K |
| Northern Trust Corp. | NTRS | Shares | $94.9M | 680K |
| U.S. Bancorp | USB | Shares | $92.8M | 1.8M |
| Fidelity National Financial In | FNF | Shares | $90.8M | 2.0M |
| Paychex Inc. | PAYX | Shares | $89.3M | 970K |
| Broadridge Financial Solutions | BR | Shares | $86.8M | 534K |
| T. Rowe Price Group Inc. | TROW | Shares | $86.8M | 963K |
| Spdr Portfolio Mortgage Backed | SPMB | Shares | $86.3M | 3.9M |
| Nordson Corp. | NDSN | Shares | $82.0M | 308K |
| Dow Inc. | DOW | Shares | $77.9M | 1.9M |
| W. R. Berkley Corp. | WRB | Shares | $73.8M | 1.1M |
| Mastercard Inc. | MA | Shares | $73.2M | 147K |
| Spdr Portfolio Developed World | SPDW | Shares | $72.7M | 1.6M |
| Tjx Co. Inc. | TJX | Shares | $71.3M | 447K |
| Stryker Corp. | SYK | Shares | $68.4M | 208K |
| Accenture Plc | Shares | $67.6M | 341K | |
| Air Products And Chemicals Inc | APD | Shares | $63.2M | 217K |
| Ares Capital Corp. | ARCC | Shares | $61.9M | 3.4M |
| S&P Global Inc. | SPGI | Shares | $57.1M | 134K |
| Microsoft Corp. | MSFT | Shares | $55.0M | 149K |
| Illinois Tool Works Inc. | ITW | Shares | $53.9M | 207K |
| Spdr Portfolio S&P 500 Growth | SPYG | Shares | $51.7M | 528K |
| Keysight Technologies Inc. | KEYS | Shares | $50.7M | 180K |
| Masco Corp. | MAS | Shares | $50.0M | 829K |
| Lowe'S Co. Inc. | LOW | Shares | $49.6M | 210K |
| Alphabet Inc. | GOOG | Shares | $49.6M | 173K |
| Graco Inc. | GGG | Shares | $49.6M | 586K |
| Paycom Software Inc. | PAYC | Shares | $49.6M | 408K |
| Spdr Portfolio S&P 500 Value E | Shares | $44.7M | 790K | |
| Berkshire Hathaway Inc. - B | BRK/B | Shares | $44.7M | 93K |
| Thermo Fisher Scientific Inc. | TMO | Shares | $44.3M | 90K |
| Nxp Semiconductors N.V. | Shares | $43.3M | 220K | |
| Arch Capital Group Ltd. | Shares | $34.9M | 364K | |
| Martin Marietta Materials Inc. | MLM | Shares | $33.5M | 57K |
| Brown-Forman Corp. - B | BF/B | Shares | $32.7M | 1.2M |
| Ishares Mbs Etf | MBB | Shares | $31.6M | 333K |
| Spdr Gold Minishares Trust Etf | GLDM | Shares | $30.9M | 333K |
| Morningstar Inc. | MORN | Shares | $30.0M | 178K |
| Carrier Global Corp. | Shares | $28.8M | 511K | |
| Starbucks Corp. | SBUX | Shares | $28.2M | 315K |
| Ishares Ibonds Dec 2033 Term T | IBTO | Shares | $26.4M | 1.1M |
| Brown & Brown Inc. | BRO | Shares | $26.4M | 405K |
| Booking Holdings Inc. | BKNG | Shares | $25.9M | 6K |
| Constellation Brands | STZ | Shares | $25.7M | 172K |
| Ishares Ibonds Dec 2031 Term T | Shares | $24.5M | 1.2M | |
| General Dynamics Corp. | GD | Shares | $24.3M | 71K |
| Eog Resources Inc. | EOG | Shares | $24.0M | 166K |
| Ecolab Inc. | ECL | Shares | $23.8M | 89K |
| Ishares Ibonds Dec 2034 Term T | IBTP | Shares | $23.6M | 919K |
| Amphenol Corp. | APH | Shares | $23.5M | 186K |
| Toro Co. | TTC | Shares | $23.4M | 251K |
| Expeditors International Of Wa | EXPD | Shares | $23.0M | 161K |
| New Jersey Resources Corp. | NJR | Shares | $22.9M | 417K |
| Donaldson Co. Inc. | DCI | Shares | $22.6M | 266K |
| Resmed Inc. | RMD | Shares | $22.4M | 100K |
| Rli Corp. | RLI | Shares | $21.8M | 382K |
| Mcdonald'S Corp. | MCD | Shares | $21.7M | 70K |
| Sherwin-Williams Co. | SHW | Shares | $21.3M | 66K |
| A. O. Smith Corp. | AOS | Shares | $21.0M | 319K |
| Ishares Barclays 10-20 Year Tr | TLH | Shares | $20.7M | 206K |
| Ishares Ibonds Dec 2035 Term T | IBTQ | Shares | $20.4M | 808K |
| Ishares Ibonds Dec 2032 Term T | IBTM | Shares | $18.4M | 804K |
| Procter & Gamble Co. | PG | Shares | $17.8M | 123K |
| Medtronic Plc | Shares | $17.8M | 205K | |
| Charles River Laboratories Int | CRL | Shares | $17.3M | 101K |
| Zoetis Inc. | ZTS | Shares | $16.8M | 142K |
| Ishares Bb Rated Corporate Bon | HYBB | Shares | $16.3M | 350K |
| Dollar Tree Inc. | DLTR | Shares | $16.0M | 146K |
| Ishares Core Msci Europe Etf | IEUR | Shares | $15.3M | 217K |
| Nike Inc. | NKE | Shares | $14.9M | 282K |
| Ishares 3-7 Year Treasury Bond | IEI | Shares | $14.9M | 125K |
| Becton Dickinson & Co. | BDX | Shares | $14.7M | 93K |
| Valvoline Inc. | VVV | Shares | $14.5M | 432K |
| Trex Company Inc. | TREX | Shares | $14.2M | 391K |
| Baldwin Insurance Group Inc. | Shares | $14.0M | 639K | |
| Vontier Corp. | VNT | Shares | $13.6M | 384K |
| Avantis International Small Ca | AVDV | Shares | $12.1M | 121K |
| Walt Disney Co. | DIS | Shares | $11.9M | 123K |
Values as reported in public regulatory filings (USD); holdings are reported quarterly, up to 45 days after quarter end, and may contain reporting errors. Nothing here is investment advice.