CONFLUENCE INVESTMENT MANAGEMENT LLC Q1 2025 Filing
Filed April 1, 2025
Portfolio Value
$6.9T
Holdings
294
Report Date
Q1 2025
Filing Type
13F-HR
All Holdings (294 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | SGOViShares 0-3 Month Treasury Bon | 1,943,492 | $195.7B | 2.82% | |
| 2 | SNASnap-on Inc. | 509,863 | $171.8B | 2.47% | |
| 3 | CBChubb Ltd. | 558,131 | $168.6B | 2.43% | |
| 4 | PAYXPaychex Inc. | 1,065,458 | $164.4B | 2.37% | |
| 5 | PGRProgressive Corp. | 568,040 | $160.8B | 2.31% | |
| 6 | WECWEC Energy Group Inc. | 1,444,397 | $157.4B | 2.27% | |
| 7 | LINLinde plc | 322,451 | $150.1B | 2.16% | |
| 8 | BRBroadridge Financial Solutions | 609,740 | $147.8B | 2.13% | |
| 9 | SOSouthern Co. | 1,603,734 | $147.5B | 2.12% | |
| 10 | FNFFidelity National Financial In | 2,208,073 | $143.7B | 2.07% | |
| 11 | LMTLockheed Martin Corp. | 302,449 | $135.1B | 1.95% | |
| 12 | PEPPepsiCo Inc. | 896,248 | $134.4B | 1.94% | |
| 13 | HDHome Depot Inc. | 353,679 | $129.6B | 1.87% | |
| 14 | FASTFastenal Co. | 1,660,502 | $128.8B | 1.85% | |
| 15 | ADIAnalog Devices Inc. | 629,623 | $127.0B | 1.83% | |
| 16 | DEODiageo plc | 1,184,987 | $124.2B | 1.79% | |
| 17 | CLXClorox Co. | 840,746 | $123.8B | 1.78% | |
| 18 | CLColgate-Palmolive Co. | 1,321,151 | $123.8B | 1.78% | |
| 19 | CVXChevron Corp. | 734,333 | $122.8B | 1.77% | |
| 20 | HSYHershey Co. | 699,426 | $119.6B | 1.72% | |
| 21 | ETREntergy Corp. | 1,390,339 | $118.9B | 1.71% | |
| 22 | KMIKinder Morgan Inc. | 3,880,963 | $110.7B | 1.59% | |
| 23 | GILDGilead Sciences Inc. | 979,976 | $109.8B | 1.58% | |
| 24 | NTRSNorthern Trust Corp. | 1,111,743 | $109.7B | 1.58% | |
| 25 | CSCOCisco Systems Inc. | 1,757,299 | $108.4B | 1.56% | |
| 26 | MAMastercard Inc. | 172,754 | $94.7B | 1.36% | |
| 27 | WRBW. R. Berkley Corp. | 1,302,855 | $92.7B | 1.33% | |
| 28 | SPMBSPDR Portfolio Mortgage Backed | 4,161,523 | $91.8B | 1.32% | |
| 29 | SYKStryker Corp. | 236,840 | $88.2B | 1.27% | |
| 30 | TROWT. Rowe Price Group Inc. | 958,342 | $88.0B | 1.27% | |
| 31 | ARCCAres Capital Corp. | 3,775,447 | $83.7B | 1.20% | |
| 32 | USBU.S. Bancorp | 1,919,167 | $81.0B | 1.17% | |
| 33 | AWCAmerican Water Works Co. Inc. | 535,169 | $78.9B | 1.14% | |
| 34 | BRK/BBerkshire Hathaway Inc. - B | 144,171 | $76.8B | 1.11% | |
| 35 | PAYCPaycom Software Inc. | 350,995 | $76.7B | 1.10% | |
| 36 | TJXTJX Co. Inc. | 626,578 | $76.3B | 1.10% | |
| 37 | SPGIS&P Global Inc. | 149,544 | $76.0B | 1.09% | |
| 38 | ORCLOracle Corp. | 535,729 | $74.9B | 1.08% | |
| 39 | UPSUnited Parcel Service Inc. | 638,607 | $70.2B | 1.01% | |
| 40 | MSFTMicrosoft Corp. | 167,479 | $62.9B | 0.91% | |
| 41 | MASMasco Corp. | 894,013 | $62.2B | 0.90% | |
| 42 | APDAir Products and Chemicals Inc | 206,654 | $60.9B | 0.88% | |
| 43 | DOWDow Inc. | 1,736,955 | $60.7B | 0.87% | |
| 44 | BROBrown & Brown Inc. | 485,812 | $60.4B | 0.87% | |
| 45 | WYWeyerhaeuser Co. | 1,962,436 | $57.5B | 0.83% | |
| 46 | GGGGraco Inc. | 683,220 | $57.1B | 0.82% | |
| 47 | ITWIllinois Tool Works Inc. | 229,950 | $57.0B | 0.82% | |
| 48 | LOWLowe's Co. Inc. | 227,872 | $53.1B | 0.77% | |
| 49 | XMHQInvesco S&P MidCap Quality ETF | 547,725 | $50.1B | 0.72% | |
| 50 | KEYSKeysight Technologies Inc. | 334,196 | $50.1B | 0.72% | |
| 51 | GOOGAlphabet Inc. | 283,770 | $44.3B | 0.64% | |
| 52 | BKNGBooking Holdings Inc. | 9,085 | $41.9B | 0.60% | |
| 53 | TMOThermo Fisher Scientific Inc. | 82,953 | $41.3B | 0.59% | |
| 54 | NXPINXP Semiconductors N.V. | 212,630 | $40.4B | 0.58% | |
| 55 | ACGLArch Capital Group Ltd. | 400,697 | $38.5B | 0.55% | |
| 56 | PIIPolaris Inc. | 922,933 | $37.8B | 0.54% | |
| 57 | DNBDun & Bradstreet Holdings Inc. | 3,972,540 | $35.5B | 0.51% | |
| 58 | MDYGSPDR S&P 400 Mid Cap Growth ET | 441,624 | $35.1B | 0.51% | |
| 59 | HYBBiShares BB Rated Corporate Bon | 752,841 | $34.8B | 0.50% | |
| 60 | SBUXStarbucks Corp. | 343,334 | $33.7B | 0.48% | |
| 61 | NDSNNordson Corp. | 153,785 | $31.0B | 0.45% | |
| 62 | MLMMartin Marietta Materials Inc. | 62,468 | $29.9B | 0.43% | |
| 63 | GLDMSPDR Gold MiniShares Trust ETF | 470,195 | $29.1B | 0.42% | |
| 64 | —SPDR Portfolio S&P 500 Value E | 561,098 | $28.7B | 0.41% | |
| 65 | ECLEcolab Inc. | 108,874 | $27.6B | 0.40% | |
| 66 | MBBiShares MBS ETF | 290,612 | $27.3B | 0.39% | |
| 67 | SPYGSPDR Portfolio S&P 500 Growth | 335,969 | $27.0B | 0.39% | |
| 68 | SHWSherwin-Williams Co. | 76,912 | $26.9B | 0.39% | |
| 69 | RMEResMed Inc. | 118,595 | $26.5B | 0.38% | |
| 70 | STZConstellation Brands | 141,373 | $25.9B | 0.37% | |
| 71 | MCDMcDonald's Corp. | 80,214 | $25.1B | 0.36% | |
| 72 | TLHiShares Barclays 10-20 Year Tr | 240,590 | $25.0B | 0.36% | |
| 73 | EOGEOG Resources Inc. | 184,346 | $23.6B | 0.34% | |
| 74 | PGProcter & Gamble Co. | 136,618 | $23.3B | 0.34% | |
| 75 | GDGeneral Dynamics Corp. | 84,424 | $23.0B | 0.33% | |
| 76 | ZTSZoetis Inc. | 139,675 | $23.0B | 0.33% | |
| 77 | APHAmphenol Corp. | 349,787 | $22.9B | 0.33% | |
| 78 | EXPDExpeditors International of Wa | 184,607 | $22.2B | 0.32% | |
| 79 | DLTRDollar Tree Inc. | 291,186 | $21.9B | 0.31% | |
| 80 | AOSA. O. Smith Corp. | 330,819 | $21.6B | 0.31% | |
| 81 | NJRNew Jersey Resources Corp. | 440,703 | $21.6B | 0.31% | |
| 82 | SPYSPDR S&P 500 ETF | 38,435 | $21.5B | 0.31% | |
| 83 | DCIDonaldson Co. Inc. | 318,834 | $21.4B | 0.31% | |
| 84 | MDTMedtronic plc | 211,700 | $19.0B | 0.27% | |
| 85 | BWINBaldwin Insurance Group Inc. | 423,042 | $18.9B | 0.27% | |
| 86 | MDYVSPDR S&P 400 Mid Cap Value ETF | 243,643 | $18.8B | 0.27% | |
| 87 | MORNMorningstar Inc. | 62,103 | $18.6B | 0.27% | |
| 88 | GTESGates Industrial Corp. plc | 1,011,102 | $18.6B | 0.27% | |
| 89 | BDXBecton Dickinson & Co. | 80,115 | $18.4B | 0.26% | |
| 90 | XSHQInvesco S&P Small Cap Quality | 458,848 | $18.1B | 0.26% | |
| 91 | VVVValvoline Inc. | 506,205 | $17.6B | 0.25% | |
| 92 | BF/BBrown-Forman Corp. - B | 517,326 | $17.6B | 0.25% | |
| 93 | IBTOiShares iBonds Dec 2033 Term T | 700,979 | $17.1B | 0.25% | |
| 94 | IBTPiShares iBonds Dec 2034 Term T | 661,179 | $17.0B | 0.24% | |
| 95 | TTCToro Co. | 226,647 | $16.5B | 0.24% | |
| 96 | NKENIKE Inc. | 246,930 | $15.7B | 0.23% | |
| 97 | CRLCharles River Laboratories Int | 96,526 | $14.5B | 0.21% | |
| 98 | DISWalt Disney Co. | 138,018 | $13.6B | 0.20% | |
| 99 | VNTVontier Corp. | 389,209 | $12.8B | 0.18% | |
| 100 | JBTJBT Marel Corp. | 100,807 | $12.3B | 0.18% |
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