CONFLUENCE INVESTMENT MANAGEMENT LLC Q2 2025 Filing

Filed July 1, 2025

Portfolio Value

$7.1B

Holdings

287

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (287 positions)

StockValue
SGOViShares 0-3 Month Treasury Bon
$238.6M
CBChubb Ltd.
$158.9M
SNASnap-on Inc.
$156.1M
PAYXPaychex Inc.
$152.0M
NTRSNorthern Trust Corp.
$150.2M
PGRProgressive Corp.
$149.9M
ADIAnalog Devices Inc.
$149.0M
LINLinde plc
$148.5M
WECWEC Energy Group Inc.
$147.9M
BRBroadridge Financial Solutions
$145.2M
SOSouthern Co.
$145.0M
LMTLockheed Martin Corp.
$139.0M
FASTFastenal Co.
$137.8M
DEODiageo plc
$136.2M
HDHome Depot Inc.
$128.7M
HSYHershey Co.
$126.9M
FNFFidelity National Financial In
$122.2M
AWCAmerican Water Works Co. Inc.
$121.8M
CVXChevron Corp.
$121.1M
CSCOCisco Systems Inc.
$120.6M
CLColgate-Palmolive Co.
$119.0M
ORCLOracle Corp.
$114.5M
ETREntergy Corp.
$114.3M
CLXClorox Co.
$113.0M
KMIKinder Morgan Inc.
$112.9M
GILDGilead Sciences Inc.
$107.5M
SPMBSPDR Portfolio Mortgage Backed
$104.5M
PEPPepsiCo Inc.
$93.9M
MAMastercard Inc.
$93.6M
WRBW. R. Berkley Corp.
$92.9M
SYKStryker Corp.
$92.0M
TROWT. Rowe Price Group Inc.
$91.5M
USBU.S. Bancorp
$88.4M
ARCCAres Capital Corp.
$83.4M
MSFTMicrosoft Corp.
$82.2M
PAYCPaycom Software Inc.
$79.2M
SPGIS&P Global Inc.
$77.9M
TJXTJX Co. Inc.
$76.2M
NDSNNordson Corp.
$72.0M
UPSUnited Parcel Service Inc.
$67.8M
APDAir Products and Chemicals Inc
$58.1M
GGGGraco Inc.
$57.6M
TLHiShares Barclays 10-20 Year Tr
$57.1M
MASMasco Corp.
$57.0M
ITWIllinois Tool Works Inc.
$56.3M
KEYSKeysight Technologies Inc.
$54.6M
SPDWSPDR Portfolio Developed World
$51.7M
LOWLowe's Co. Inc.
$50.3M
GOOGAlphabet Inc.
$50.1M
BRK/BBerkshire Hathaway Inc. - B
$49.5M
WYWeyerhaeuser Co.
$49.2M
BKNGBooking Holdings Inc.
$49.0M
DOWDow Inc.
$46.9M
NXPINXP Semiconductors N.V.
$46.5M
BF/BBrown-Forman Corp. - B
$37.2M
ACGLArch Capital Group Ltd.
$36.1M
SPDR Portfolio S&P 500 Value E
$35.9M
MDLZMondelez International Inc.
$35.3M
GLDMSPDR Gold MiniShares Trust ETF
$34.4M
MLMMartin Marietta Materials Inc.
$34.3M
TMOThermo Fisher Scientific Inc.
$33.8M
PIIPolaris Inc.
$33.5M
BROBrown & Brown Inc.
$33.2M
APHAmphenol Corp.
$32.9M
SBUXStarbucks Corp.
$31.2M
IEIiShares 3-7 Year Treasury Bond
$29.7M
RMEResMed Inc.
$29.7M
ECLEcolab Inc.
$28.5M
DLTRDollar Tree Inc.
$28.2M
MBBiShares MBS ETF
$27.1M
SPYGSPDR Portfolio S&P 500 Growth
$26.0M
SHWSherwin-Williams Co.
$25.7M
MDYVSPDR S&P 400 Mid Cap Value ETF
$24.5M
REGLProShares S&P MidCap 400 Divid
$24.5M
GDGeneral Dynamics Corp.
$24.0M
STZConstellation Brands
$23.3M
MCDMcDonald's Corp.
$22.8M
GTESGates Industrial Corp. plc
$22.6M
AOSA. O. Smith Corp.
$21.7M
EOGEOG Resources Inc.
$21.7M
DCIDonaldson Co. Inc.
$21.7M
ZTSZoetis Inc.
$21.4M
PGProcter & Gamble Co.
$21.3M
EXPDExpeditors International of Wa
$20.7M
NJRNew Jersey Resources Corp.
$19.4M
MORNMorningstar Inc.
$19.1M
VVVValvoline Inc.
$18.9M
MDTMedtronic plc
$18.3M
MDYGSPDR S&P 400 Mid Cap Growth ET
$18.0M
BWINBaldwin Insurance Group Inc.
$17.7M
NKENIKE Inc.
$17.6M
CARRCarrier Global Corp.
$17.3M
DISWalt Disney Co.
$17.1M
IBTOiShares iBonds Dec 2033 Term T
$17.0M
IBTPiShares iBonds Dec 2034 Term T
$16.9M
VNTVontier Corp.
$16.9M
FXFInvesco CurrencyShares Swiss F
$16.0M
TTCToro Co.
$16.0M
CRLCharles River Laboratories Int
$14.8M
BDXBecton Dickinson & Co.
$13.9M
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