CONFLUENCE INVESTMENT MANAGEMENT LLC Q3 2025 Filing

Filed October 14, 2025

Portfolio Value

$7.0B

Holdings

294

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (294 positions)

StockValue
SGOViShares 0-3 Month Treasury Bon
$261.8M
SNASnap-on Inc.
$170.6M
WECWEC Energy Group Inc.
$159.4M
FASTFastenal Co.
$157.7M
NTRSNorthern Trust Corp.
$155.8M
CBChubb Ltd.
$152.0M
ADIAnalog Devices Inc.
$150.8M
LMTLockheed Martin Corp.
$148.4M
LINLinde plc
$147.2M
SOSouthern Co.
$146.8M
HSYHershey Co.
$141.2M
HDHome Depot Inc.
$139.9M
BRBroadridge Financial Solutions
$139.1M
MDLZMondelez International Inc.
$138.9M
PGRProgressive Corp.
$136.9M
PAYXPaychex Inc.
$130.2M
DEODiageo plc
$130.1M
FNFFidelity National Financial In
$129.4M
CVXChevron Corp.
$129.3M
ETREntergy Corp.
$126.0M
AWCAmerican Water Works Co. Inc.
$120.0M
CSCOCisco Systems Inc.
$116.8M
CLXClorox Co.
$114.8M
KMIKinder Morgan Inc.
$107.4M
GILDGilead Sciences Inc.
$105.8M
CLColgate-Palmolive Co.
$103.5M
TROWT. Rowe Price Group Inc.
$99.9M
SPMBSPDR Portfolio Mortgage Backed
$94.7M
WRBW. R. Berkley Corp.
$94.4M
USBU.S. Bancorp
$93.5M
MAMastercard Inc.
$92.1M
TJXTJX Co. Inc.
$87.2M
MSFTMicrosoft Corp.
$83.8M
SYKStryker Corp.
$83.7M
ARCCAres Capital Corp.
$75.2M
NDSNNordson Corp.
$75.0M
SPGIS&P Global Inc.
$70.4M
PAYCPaycom Software Inc.
$68.1M
GOOGAlphabet Inc.
$67.5M
SPDWSPDR Portfolio Developed World
$63.1M
MASMasco Corp.
$61.1M
ITWIllinois Tool Works Inc.
$58.1M
KEYSKeysight Technologies Inc.
$57.2M
UPSUnited Parcel Service Inc.
$56.9M
LOWLowe's Co. Inc.
$56.1M
GGGGraco Inc.
$55.6M
APDAir Products and Chemicals Inc
$55.2M
ACNAccenture plc
$51.6M
BRK/BBerkshire Hathaway Inc. - B
$50.7M
NXPINXP Semiconductors N.V.
$48.0M
DOWDow Inc.
$45.0M
WYWeyerhaeuser Co.
$43.7M
TMOThermo Fisher Scientific Inc.
$40.4M
MLMMartin Marietta Materials Inc.
$38.7M
TLHiShares Barclays 10-20 Year Tr
$37.4M
GLDMSPDR Gold MiniShares Trust ETF
$37.3M
BF/BBrown-Forman Corp. - B
$36.5M
ACGLArch Capital Group Ltd.
$35.3M
BKNGBooking Holdings Inc.
$35.2M
MBBiShares MBS ETF
$34.9M
SPDR Portfolio S&P 500 Value E
$33.7M
SPYGSPDR Portfolio S&P 500 Growth
$30.6M
RMEResMed Inc.
$30.3M
SBUXStarbucks Corp.
$28.6M
ECLEcolab Inc.
$28.0M
BROBrown & Brown Inc.
$27.9M
GDGeneral Dynamics Corp.
$27.2M
DLTRDollar Tree Inc.
$25.8M
APHAmphenol Corp.
$25.8M
SHWSherwin-Williams Co.
$25.2M
DCIDonaldson Co. Inc.
$24.9M
AOSA. O. Smith Corp.
$24.2M
MCDMcDonald's Corp.
$23.2M
REGLProShares S&P MidCap 400 Divid
$23.0M
IBTQiShares iBonds Dec 2035 Term T
$22.6M
MDYGSPDR S&P 400 Mid Cap Growth ET
$21.9M
EXPDExpeditors International of Wa
$21.7M
MCXMcCormick & Company Inc.
$21.6M
NJRNew Jersey Resources Corp.
$20.4M
PGProcter & Gamble Co.
$20.1M
ZTSZoetis Inc.
$19.6M
MDTMedtronic plc
$19.5M
EOGEOG Resources Inc.
$19.4M
STZConstellation Brands
$19.3M
VNTVontier Corp.
$18.9M
VVVValvoline Inc.
$17.6M
TTCToro Co.
$17.1M
NKENIKE Inc.
$17.0M
IBTOiShares iBonds Dec 2033 Term T
$16.7M
IBTPiShares iBonds Dec 2034 Term T
$16.7M
MDYVSPDR S&P 400 Mid Cap Value ETF
$15.6M
DISWalt Disney Co.
$15.6M
CPRTCopart Inc.
$15.1M
BDXBecton Dickinson & Co.
$15.0M
CRLCharles River Laboratories Int
$15.0M
CARRCarrier Global Corp.
$14.0M
MORNMorningstar Inc.
$14.0M
IEIiShares 3-7 Year Treasury Bond
$13.5M
HYBBiShares BB Rated Corporate Bon
$12.8M
IEURiShares Core MSCI Europe ETF
$12.3M
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