CONFLUENCE INVESTMENT MANAGEMENT LLC

hedge fundUpdated 71 days ago

Managed by Confluence Investment Management Llc • Latest filing Q2 2026

Portfolio value

$6.4B

Q2 2026

Filings

13

Quarterly 13F history

Top-10 concentration

100.0%

Weight of largest holdings

Annualized return

-2.3%

Implied from 13F holdings

Portfolio value history

13F-disclosed portfolio value over 13 quarters

Show data table

Period	Portfolio value
Q2 2023	$6.9B
Q3 2023	$6.5B
Q4 2023	$7.1B
Q1 2024	$7.4B
Q2 2024	$6.9B
Q3 2024	$7.5B
Q4 2024	$7.2B
Q1 2025	$6.9B
Q2 2025	$7.1B
Q3 2025	$7B
Q4 2025	$6.7B
Q1 2026	$6.4B
Q2 2026	$6.4B

Top holdings

422 positions as of Q2 2026

#	Stock	Value	Shares	% Portfolio	Change
1	? N/A iShares 0-3 Month Treasury Bon	$279.8M	2.78M	4.37%	Added(+50898.8%)
2	S SNA Snap-on Inc.	$167.3M	415.8K	2.61%	Added(+25938.5%)
3	C CB Chubb Ltd.	$156.5M	459.2K	2.44%	Added(+24301.9%)
4	L LIN Linde plc	$140M	269.8K	2.19%	Added(+25648.7%)
5	? N/A WEC Energy Group Inc.	$138.7M	1.19M	2.17%	Added(+26126.8%)
6	F FAST Fastenal Co.	$135.5M	2.82M	2.12%	Added(+26470.0%)
7	E ETR Entergy Corp.	$132.3M	1.15M	2.07%	Added(+21787.1%)
8	L LMT Lockheed Martin Corp.	$131.3M	257.7K	2.05%	Added(+26090.3%)
9	S SOMN Southern Co.	$130.8M	1.37M	2.04%	Added(+26771.4%)
10	? N/A Stanley Black & Decker Inc.	$126.4M	1.34M	1.97%	—
11	C CVX Chevron Corp.	$122.8M	740.7K	1.92%	Added(+28084.3%)
12	P PGR Progressive Corp.	$121.3M	555.4K	1.90%	Added(+24770.8%)
13	C CLX Clorox Co.	$118.7M	1.24M	1.85%	Added(+38469.1%)
14	? N/A Mondelez International Inc.	$117.9M	2.04M	1.84%	Added(+26894.8%)
15	A ADI Analog Devices Inc.	$116.2M	292.5K	1.82%	Added(+14900.8%)
16	H HSY Hershey Co.	$115.9M	660.6K	1.81%	Added(+22517.0%)
17	N NTRSO Northern Trust Corp.	$114.4M	658.1K	1.79%	Added(+23301.9%)
18	C CL Colgate-Palmolive Co.	$110.6M	1.21M	1.73%	Added(+31070.7%)
19	H HD Home Depot Inc.	$109.4M	310.3K	1.71%	Added(+27311.6%)
20	? N/A Kinder Morgan Inc.	$107.3M	3.36M	1.68%	Added(+22709.9%)

?

1.N/A

iShares 0-3 Month Treasury Bon

+50898.8%

Value

$279.8M

Shares

2.78M

% Port

4.37%

S

Snap-on Inc.

+25938.5%

Value

$167.3M

Shares

415.8K

% Port

2.61%

C

3.CB

Chubb Ltd.

+24301.9%

Value

$156.5M

Shares

459.2K

% Port

2.44%

L

Linde plc

+25648.7%

Value

$140M

Shares

269.8K

% Port

2.19%

?

5.N/A

WEC Energy Group Inc.

+26126.8%

Value

$138.7M

Shares

1.19M

% Port

2.17%

F

Fastenal Co.

+26470.0%

Value

$135.5M

Shares

2.82M

% Port

2.12%

E

Entergy Corp.

+21787.1%

Value

$132.3M

Shares

1.15M

% Port

2.07%

L

Lockheed Martin Corp.

+26090.3%

Value

$131.3M

Shares

257.7K

% Port

2.05%

S

Southern Co.

+26771.4%

Value

$130.8M

Shares

1.37M

% Port

2.04%

?

10.N/A

Stanley Black & Decker Inc.

Value

$126.4M

Shares

1.34M

% Port

1.97%

C

11.CVX

Chevron Corp.

+28084.3%

Value

$122.8M

Shares

740.7K

% Port

1.92%

P

12.PGR

Progressive Corp.

+24770.8%

Value

$121.3M

Shares

555.4K

% Port

1.90%

C

13.CLX

Clorox Co.

+38469.1%

Value

$118.7M

Shares

1.24M

% Port

1.85%

?

14.N/A

Mondelez International Inc.

+26894.8%

Value

$117.9M

Shares

2.04M

% Port

1.84%

A

15.ADI

Analog Devices Inc.

+14900.8%

Value

$116.2M

Shares

292.5K

% Port

1.82%

H

16.HSY

Hershey Co.

+22517.0%

Value

$115.9M

Shares

660.6K

% Port

1.81%

N

Northern Trust Corp.

+23301.9%

Value

$114.4M

Shares

658.1K

% Port

1.79%

C

18.CL

Colgate-Palmolive Co.

+31070.7%

Value

$110.6M

Shares

1.21M

% Port

1.73%

H

19.HD

Home Depot Inc.

+27311.6%

Value

$109.4M

Shares

310.3K

% Port

1.71%

?

20.N/A

Kinder Morgan Inc.

+22709.9%

Value

$107.3M

Shares

3.36M

% Port

1.68%

View full portfolio (422 holdings) →

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