Latest CONFLUENCE INVESTMENT MANAGEMENT LLC Stock Portfolio

CONFLUENCE INVESTMENT MANAGEMENT LLC Performance:

2025 Q3: 2.03%YTD: 2.15%2024: 6.46%

Performance for 2025 Q3 is 2.03%, and YTD is 2.15%, and 2024 is 6.46%.

About CONFLUENCE INVESTMENT MANAGEMENT LLC and 13F Hedge Fund Stock Holdings

CONFLUENCE INVESTMENT MANAGEMENT LLC is a hedge fund based in SAINT LOUIS, MO. On 09-Mar-2023, the fund reported that it had an AUM (Regulated Assets under Management) of $6.9 Billions. In it's latest 13F Holdings report, CONFLUENCE INVESTMENT MANAGEMENT LLC reported an equity portfolio of $6.7 Billions as of 31 Dec, 2025.

The top stock holdings of CONFLUENCE INVESTMENT MANAGEMENT LLC are DMXF, SNA, CB. The fund has invested 3.1% of it's portfolio in ISHARES 0-3 MONTH TREASURY BON and 2.4% of portfolio in SNAP-ON INC.

The fund managers got completely rid off UNITED PARCEL SERVICE INC. (UPS), WEYERHAEUSER CO. (WY) and ISHARES IBONDS DEC 2028 TERM C (BGRN) stocks. They significantly reduced their stock positions in ISHARES 20PLUS YEAR TREASURY B (IJR), ISHARES IBONDS DEC 2026 TERM M (BGRN) and WILLIS TOWERS WATSON PLC (WTW). CONFLUENCE INVESTMENT MANAGEMENT LLC opened new stock positions in HONEYWELL INTERNATIONAL INC. (HON), ISHARES IBONDS DEC 2032 TERM C (DMXF) and UNIFIRST CORP. (UNF). The fund showed a lot of confidence in some stocks as they added substantially to ISHARES RUSSELL 1000 VALUE ETF (IJR), ALIBABA GROUP HOLDING LTD. (BABA) and INVESCO BULLETSHARES 2032 MUNC (IIGD).

CONFLUENCE INVESTMENT MANAGEMENT LLC Annual Return Estimates Vs S&P 500

Our best estimate is that CONFLUENCE INVESTMENT MANAGEMENT LLC made a return of 2.03% in the last quarter. In trailing 12 months, it's portfolio return was -1.7%.

Performance
S&P 500

New Buys

Ticker	$ Bought
honeywell international inc.	100,894,000
ishares ibonds dec 2032 term c	7,611,390
ishares ibonds dec 2026 term c	5,890,940
unifirst corp.	5,405,060
ishares russell 2000 value etf	3,842,200
f&g annuities and life	3,742,120
first majestic silver corp.	1,514,440
lundin mining corp.	1,487,590

New stocks bought by CONFLUENCE INVESTMENT MANAGEMENT LLC

Additions

Ticker	% Inc.
ishares russell 1000 value etf	2,904
alibaba group holding ltd.	283
invesco bulletshares 2032 munc	108
msc income fund	107
spdr portfolio s&p 500 growth	74.85
ishares bb rated corporate bon	60.07
accenture plc	58.75
ishares ibonds dec 2031 term t	58.06

Additions to existing portfolio by CONFLUENCE INVESTMENT MANAGEMENT LLC

Reductions

Ticker	% Reduced
ishares 20plus year treasury b	-92.72
ishares ibonds dec 2026 term m	-81.08
willis towers watson plc	-73.91
ishares ibonds dec 2029 term t	-65.35
spdr s&p 400 mid cap value etf	-58.57
proshares s&p midcap 400 divid	-49.41
spdr s&p 400 mid cap growth et	-45.38
goldman sachs bdc inc.	-44.25

CONFLUENCE INVESTMENT MANAGEMENT LLC reduced stake in above stock

Sold off

Ticker	$ Sold
weyerhaeuser co.	-43,741,100
united parcel service inc.	-56,937,700
ishares ibonds dec 2028 term c	-10,197,800
american outdoor brands inc.	-1,189,140
invesco bulletshares 2028 muni	-2,966,920
invesco bulletshares 2029 muni	-2,477,710
edgewell personal care co.	-1,468,260
h2o america	-2,090,040

CONFLUENCE INVESTMENT MANAGEMENT LLC got rid off the above stocks

Sector Distribution

CONFLUENCE INVESTMENT MANAGEMENT LLC has about 18.6% of it's holdings in Others sector.

Sector	%
Others	18.6
Financial Services	16.6
Industrials	15.4
Technology	11
Consumer Defensive	8.5
Utilities	8.2
Consumer Cyclical	6
Basic Materials	5
Healthcare	4.8
Energy	4
Communication Services	1.2

Market Cap. Distribution

CONFLUENCE INVESTMENT MANAGEMENT LLC has about 76.5% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	65.4
UNALLOCATED	18.6
MEGA-CAP	11.1
MID-CAP	4.2

Stocks belong to which Index?

About 76.2% of the stocks held by CONFLUENCE INVESTMENT MANAGEMENT LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	74.9
Others	23.8
RUSSELL 2000	1.3

Top 5 Winners (%)		%
UEC	uranium energy corp.	91.1 %
	gold fields ltd.	75.7 %
YNDX	nebius group n.v.	75.0 %
BABA	alibaba group holding ltd.	56.6 %
VLRS	controladora vuela cia de avia	50.5 %

Top 5 Winners ($)		$
FAST	fastenal co.	22.9 M
GOOG	alphabet inc.	18.5 M
SNA	snap-on inc.	17.6 M
HSY	hershey co.	16.0 M
WEC	wec energy group inc.	14.6 M

Top 5 Losers (%)		%
HDB	hdfc bank ltd.	-46.9 %
BRP	baldwin insurance group inc.	-33.8 %
HAE	haemonetics corp.	-33.6 %
VIST	vista energy s.a.b. de c.v.	-27.5 %
MORN	morningstar inc.	-25.9 %

Top 5 Losers ($)		$
PAYX	paychex inc.	-19.4 M
CL	colgate-palmolive co.	-14.3 M
UPS	united parcel service inc.	-11.8 M
PGR	progressive corp.	-11.1 M
PAYC	paycom software inc.	-7.8 M

CONFLUENCE INVESTMENT MANAGEMENT LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of CONFLUENCE INVESTMENT MANAGEMENT LLC

CONFLUENCE INVESTMENT MANAGEMENT LLC has 293 stocks in it's portfolio. About 23.5% of the portfolio is in top 10 stocks. PAYX proved to be the most loss making stock for the portfolio. FAST was the most profitable stock for CONFLUENCE INVESTMENT MANAGEMENT LLC last quarter.

Last Reported on: 05 Jan, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAXJ	ishares mbs etf	0.49	344,690	32,821,400	reduced	-5.95

AAXJ	ishares barclays 10-20 year tr	0.37	242,506	24,655,600	reduced	-33.2

AAXJ	ishares 3-7 year treasury bond	0.22	125,647	14,996,000	added	11.29

AAXJ	ishares 1-5 year investment gr	0.10	123,761	6,544,480	added	2.93

AAXJ	ishares national muni bond etf	0.05	29,933	3,206,120	added	30.93

ACGL	arch capital group ltd.	0.52	359,733	34,505,600	reduced	-7.53

ACN	accenture plc	1.33	332,196	89,128,200	added	58.75

ACWF	ishares core msci europe etf	0.23	220,104	15,623,000	added	21.81

ADI	analog devices inc.	2.38	585,879	158,890,000	reduced	-4.51

AEMB	avantis international small ca	0.17	124,409	11,690,700	added	26.62

AEMB	avantis us large cap equity et	0.00	3,458	271,868	new

AFK	vaneck vectors long municipal	0.04	157,054	2,753,310	reduced	-31.2

AG	first majestic silver corp.	0.02	90,903	1,514,440	new

AGT	ishares ibonds dec 2026 term c	0.09	243,126	5,890,940	new

AIB	midcap financial investment co	0.02	123,357	1,411,200	reduced	-6.34

ALTS	proshares s&p midcap 400 divid	0.17	136,371	11,485,200	reduced	-49.41

AMP	ameriprise financial inc.	0.00	480	235,363	unchanged	0.00

AOS	a. o. smith corp.	0.30	294,451	19,692,900	reduced	-10.52

AOUT	american outdoor brands inc.	0.00	0.00	0.00	sold off	-100

APD	air products and chemicals inc	0.70	190,299	47,007,700	reduced	-6.05