CONFLUENCE INVESTMENT MANAGEMENT LLC

$6.4B reported 13(f) long value · latest quarter 2026-06-30 · CIK 0001442056 · EDGAR ↗

A quarter-end snapshot. Filed up to 45 days later, so this page is not current holdings and never a complete portfolio. what a 13F is — and is not ↓ · methodology §13F ↗

Period

$6.4B

reported valuesum of disclosed values for 2026-03-31; 0 positions carry a NULL value and are excluded from the sum, surfaced here rather than folded away

414

positionsALL retained default holdings for this (filer, period), including NULL-value ones

new stakespositions with no comparable holding in the prior quarter (kind new), 2026-03-31

exitspositions absent from this quarter's filing after being held last quarter (kind exit), 2026-03-31 — inferred from absence, not a sale record

Position changes — into 2026-03-31

by shares · Δ value · filing link · how changes are classified §

Position changes into quarter 2026-03-31
Positionposition matched across quarters by exact reported CUSIP over a registry gap — producer-reconciled identity, never a name match `identity_reconciled_by_cusip`	Changethe reported share count is unchanged across the pair, so the position reads as held rather than as a buy or a sell; only builds before this release inferred a direction from the reported value instead `classified_by_value` · "exit" = absent this quarter: disposed, delisted, under confidential treatment, or reported instead by an affiliated manager — the filing does not say which · change not classifiable: value undisclosed on one side of the quarter pair, or neither shares nor value can classify it · "no change" = the share count is identical in both quarters; the value moved only with price, so the row is mark-to-market and never an add or a trim (Add / New / Trim / Exit / No change) · "no prior" = this filer has no comparable holdings list for the previous quarter on record — a first filing under this registration, or a quarter reported inside an affiliated manager's filing — so the position is not called a new stake	Δ valuederived by Public Filings from the published aggregate; NULL means the source did not disclose a usable value — never zero	Δ sharesreported unit changed across the pair (SH↔PRN); the share delta is withheld rather than fabricated `shares_unit_mismatch`	Prev value	Curr value	Prev shares	Curr shares
iShares 0-3 Month Treasury Bon COMposition key `sid:sec:prov:e38118ea8b169e3aaee9194c66190079` · issuer key `cusip6:46436E`	trim	−$33.4M	−337,728	$210M	$177M	2,091,242	1,753,514
Analog Devices Inc. COMposition key `pos:15188` · issuer key `iss:199`	trim	+$13.1M	−45,239	$159M	$172M	585,879	540,640
Lockheed Martin Corp. COMposition key `pos:18083` · issuer key `iss:1368`	trim	+$25.0M	−15,588	$138M	$163M	285,228	269,640
Chevron Corp. COMposition key `pos:12570` · issuer key `iss:572`	trim	+$37.6M	−29,207	$122M	$160M	801,450	772,243
Snap-on Inc. COMposition key `pos:17012` · issuer key `iss:1998`	trim	−$3.4M	−33,413	$162M	$158M	469,309	435,896
Chubb Ltd. COMposition key `pos:12117` · issuer key `iss:2661`	trim	−$2.4M	−28,978	$159M	$157M	511,021	482,043
Hershey Co. COMposition key `pos:16378` · issuer key `iss:1108`	trim	+$16.5M	−7,565	$127M	$144M	697,914	690,349
WEC Energy Group Inc. COMposition key `pos:16233` · issuer key `iss:2297`	trim	+$3.2M	−90,404	$140M	$143M	1,327,420	1,237,016
Linde plc COMposition key `pos:13548` · issuer key `iss:2557`	trim	+$13.6M	−14,251	$127M	$140M	297,323	283,072
Entergy Corp. COMposition key `pos:12907` · issuer key `iss:830`	trim	+$19.1M	−58,447	$119M	$138M	1,287,734	1,229,287
Fastenal Co. COMposition key `pos:16201` · issuer key `iss:898`	trim	+$13.5M	−126,394	$124M	$138M	3,093,116	2,966,722
Southern Co. COMposition key `pos:14613` · issuer key `iss:2017`	trim	+$7.7M	−63,705	$130M	$137M	1,485,576	1,421,871
Mondelez International Inc. COMposition key `pos:15469` · issuer key `iss:1496`	add	+$28.0M	+370,805	$93.8M	$122M	1,742,051	2,112,856
Gilead Sciences Inc. COMposition key `pos:11444` · issuer key `iss:1008`	trim	+$8.3M	−48,812	$112M	$120M	909,835	861,023
Cisco Systems Inc. COMposition key `pos:12802` · issuer key `iss:588`	trim	−$5.1M	−77,155	$125M	$120M	1,618,101	1,540,946
Kinder Morgan Inc. COMposition key `pos:15014` · issuer key `iss:1286`	trim	+$17.0M	−148,029	$100.0M	$117M	3,637,035	3,489,006
Progressive Corp. COMposition key `pos:12536` · issuer key `iss:1764`	trim	−$21.1M	−17,599	$136M	$115M	597,858	580,259
Honeywell International Inc. COMposition key `pos:14752` · issuer key `iss:1123`	trim	+$12.1M	−17,305	$101M	$113M	517,167	499,862
American Water Works Co. Inc. COMposition key `pos:13560` · issuer key `iss:184`	add	+$6.7M	+16,965	$103M	$110M	792,993	809,958
Colgate-Palmolive Co. COMposition key `pos:11277` · issuer key `iss:618`	trim	+$4.9M	−36,554	$102M	$107M	1,286,644	1,250,090
Home Depot Inc. COMposition key `pos:11561` · issuer key `iss:1122`	trim	−$8.9M	−11,832	$114M	$105M	331,755	319,923
Diageo plc COMposition key `pos:16487` · issuer key `iss:728`	add	+$6.0M	+255,114	$94.8M	$101M	1,098,320	1,353,434
Clorox Co. COMposition key `pos:14629` · issuer key `iss:603`	add	+$18.4M	+156,379	$78.3M	$96.6M	776,196	932,575
Northern Trust Corp. COMposition key `pos:13144` · issuer key `iss:1579`	trim	−$55.7M	−422,843	$151M	$94.9M	1,103,103	680,260
U.S. Bancorp COMposition key `pos:16021` · issuer key `iss:2187`	trim	−$5.7M	−62,109	$98.5M	$92.8M	1,846,512	1,784,403
Fidelity National Financial In COMposition key `pos:16319` · issuer key `iss:908`	trim	−$20.6M	−83,819	$111M	$90.8M	2,040,826	1,957,007
Paychex Inc. COMposition key `pos:15163` · issuer key `iss:1681`	trim	−$21.4M	−17,450	$111M	$89.3M	987,259	969,809
Broadridge Financial Solutions COMposition key `pos:11907` · issuer key `iss:440`	trim	−$37.4M	−22,122	$124M	$86.8M	556,515	534,393
T. Rowe Price Group Inc. COMposition key `pos:13020` · issuer key `iss:1751`	add	−$9.8M	+19,495	$96.6M	$86.8M	943,672	963,167
SPDR Portfolio Mortgage Backed COMposition key `pos:11002` · issuer key `iss:1900`	trim	−$9.2M	−406,525	$95.5M	$86.3M	4,260,018	3,853,493
Nordson Corp. COMposition key `pos:12198` · issuer key `iss:1576`	trim	+$3.0M	−20,402	$79.0M	$82.0M	328,669	308,267
Dow Inc. COMposition key `pos:12614` · issuer key `iss:762`	add	+$40.7M	+280,735	$37.2M	$77.9M	1,589,613	1,870,348
W. R. Berkley Corp. COMposition key `pos:11446` · issuer key `iss:359`	trim	−$9.1M	−68,106	$82.8M	$73.8M	1,181,506	1,113,400
Mastercard Inc. COMposition key `pos:15086` · issuer key `iss:1433`	trim	−$15.5M	−8,865	$88.7M	$73.2M	155,399	146,534
SPDR Portfolio Developed World COMposition key `sid:sec:prov:8eb35ebc152e2250618fad852c7a297e` · issuer key `cusip6:78463X`	trim	−$14.4K	−44,789	$72.7M	$72.7M	1,637,282	1,592,493
TJX Co. Inc. COMposition key `pos:18816` · issuer key `iss:2073`	trim	−$17.5M	−131,444	$88.8M	$71.3M	577,970	446,526
Stryker Corp. COMposition key `pos:16108` · issuer key `iss:2049`	trim	−$8.7M	−11,228	$77.1M	$68.4M	219,287	208,059
Accenture plc COMposition key `pos:18342` · issuer key `iss:2450`	add	−$21.5M	+8,616	$89.1M	$67.6M	332,196	340,812
Air Products and Chemicals Inc COMposition key `pos:17427` · issuer key `iss:103`	add	+$16.2M	+27,188	$47.0M	$63.2M	190,299	217,487
Ares Capital Corp. COMposition key `pos:12521` · issuer key `iss:241`	trim	−$9.8M	−107,483	$71.7M	$61.9M	3,542,772	3,435,289
S&P Global Inc. COMposition key `pos:16388` · issuer key `iss:1887`	trim	−$16.1M	−5,879	$73.2M	$57.1M	140,159	134,280
Microsoft Corp. COMposition key `pos:12680` · issuer key `iss:1473`	trim	−$19.8M	−6,107	$74.8M	$55.0M	154,718	148,611
Illinois Tool Works Inc. COMposition key `pos:16485` · issuer key `iss:1162`	trim	+$743K	−8,752	$53.2M	$53.9M	215,911	207,159
SPDR Portfolio S&P 500 Growth COMposition key `pos:13447` · issuer key `iss:1900`	add	−$3.0M	+15,508	$54.7M	$51.7M	512,845	528,353
Keysight Technologies Inc. COMposition key `pos:18650` · issuer key `iss:1281`	trim	−$17.2M	−154,834	$67.9M	$50.7M	334,338	179,504
Masco Corp. COMposition key `pos:17211` · issuer key `iss:1430`	trim	−$4.7M	−34,169	$54.8M	$50.0M	862,773	828,604
Lowe's Co. Inc. COMposition key `pos:17070` · issuer key `iss:1374`	trim	−$4.3M	−13,650	$54.0M	$49.6M	223,714	210,064
Alphabet Inc. COMposition key `pos:18738` · issuer key `iss:152`	trim	−$7.7M	−9,679	$57.3M	$49.6M	182,558	172,879
Graco Inc. COMposition key `pos:14574` · issuer key `iss:1034`	trim	−$1.5M	−37,255	$51.1M	$49.6M	622,969	585,714
Paycom Software Inc. COMposition key `pos:11258` · issuer key `iss:1682`	add	−$1.3M	+88,456	$50.9M	$49.6M	319,291	407,747
SPDR Portfolio S&P 500 Value E COMposition key `pos:13833` · issuer key `iss:1900`	add	+$10.4M	+186,565	$34.3M	$44.7M	603,839	790,404
Berkshire Hathaway Inc. - B COMposition key `pos:12054` · issuer key `iss:360`	trim	−$4.4M	−4,431	$49.1M	$44.7M	97,692	93,261
Thermo Fisher Scientific Inc. COMposition key `pos:16012` · issuer key `iss:2132`	trim	−$10.8M	−4,913	$55.1M	$44.3M	95,064	90,151
NXP Semiconductors N.V. COMposition key `pos:14942` · issuer key `iss:2705`	trim	−$6.3M	−8,396	$49.5M	$43.3M	228,220	219,824
Arch Capital Group Ltd. COMposition key `pos:17810` · issuer key `iss:2429`	add	+$443K	+4,353	$34.5M	$34.9M	359,733	364,086
Martin Marietta Materials Inc. COMposition key `pos:14465` · issuer key `iss:1428`	trim	−$3.7M	−2,803	$37.1M	$33.5M	59,658	56,855
Brown-Forman Corp. - B COMposition key `pos:17411` · issuer key `iss:452`	add	+$1.6M	+42,815	$31.1M	$32.7M	1,194,806	1,237,621
iShares MBS ETF COMposition key `pos:15759` · issuer key `iss:1232`	trim	−$1.2M	−11,756	$32.8M	$31.6M	344,690	332,934
SPDR Gold MiniShares Trust ETF COMposition key `pos:15463` · issuer key `iss:2357`	trim	−$1.6M	−47,836	$32.5M	$30.9M	380,810	332,974
Morningstar Inc. COMposition key `pos:12009` · issuer key `iss:1508`	add	+$14.6M	+106,535	$15.4M	$30.0M	71,033	177,568
Carrier Global Corp. COMposition key `pos:12437` · issuer key `iss:528`	add	+$17.6M	+300,405	$11.1M	$28.8M	210,732	511,137
Starbucks Corp. COMposition key `pos:16910` · issuer key `iss:2037`	trim	+$1.1M	−7,324	$27.2M	$28.2M	322,455	315,131
iShares iBonds Dec 2033 Term T COMposition key `sid:sec:prov:aa36156971019a93846bdc7558bbef47` · issuer key `cusip6:46436E`	add	+$10.7M	+444,647	$15.6M	$26.4M	637,249	1,081,896
Brown & Brown Inc. COMposition key `pos:17033` · issuer key `iss:451`	trim	−$6.6M	−8,674	$32.9M	$26.4M	413,319	404,645
Booking Holdings Inc. COMposition key `pos:11700` · issuer key `iss:414`	trim	−$8.3M	−229	$34.1M	$25.9M	6,372	6,143
Constellation Brands COMposition key `pos:14572` · issuer key `iss:646`	add	+$10.7M	+62,903	$15.0M	$25.7M	108,744	171,647
iShares iBonds Dec 2031 Term T COMposition key `sid:sec:prov:9233601007703ac4ad905b0a04b413b0` · issuer key `cusip6:46436E`	add	+$14.9M	+733,137	$9.6M	$24.5M	469,677	1,202,814
General Dynamics Corp. COMposition key `pos:18191` · issuer key `iss:996`	trim	−$1.4M	−5,543	$25.7M	$24.3M	76,437	70,894
EOG Resources Inc. COMposition key `pos:13315` · issuer key `iss:780`	add	+$6.8M	+1,903	$17.2M	$24.0M	163,772	165,675
Ecolab Inc. COMposition key `pos:17621` · issuer key `iss:793`	trim	−$2.0M	−8,842	$25.8M	$23.8M	98,296	89,454
iShares iBonds Dec 2034 Term T COMposition key `sid:sec:prov:87f0807e34c84e67080cc3456e4c567d` · issuer key `cusip6:46438G`	add	+$5.1M	+203,003	$18.5M	$23.6M	716,175	919,178
Amphenol Corp. COMposition key `pos:16124` · issuer key `iss:197`	trim	−$3.5M	−13,670	$26.9M	$23.5M	199,281	185,611
Toro Co. COMposition key `pos:11173` · issuer key `iss:2143`	add	+$4.5M	+9,634	$19.0M	$23.4M	241,309	250,943
Expeditors International of Wa COMposition key `pos:18624` · issuer key `iss:874`	trim	−$2.6M	−10,972	$25.6M	$23.0M	171,675	160,703
New Jersey Resources Corp. COMposition key `pos:18021` · issuer key `iss:1555`	trim	+$2.7M	−21,727	$20.2M	$22.9M	438,685	416,958
Donaldson Co. Inc. COMposition key `pos:14863` · issuer key `iss:753`	trim	−$3.3M	−25,659	$25.8M	$22.6M	291,382	265,723
ResMed Inc. COMposition key `pos:17293` · issuer key `iss:1838`	trim	−$3.2M	−6,551	$25.6M	$22.4M	106,396	99,845
RLI Corp. COMposition key `pos:13540` · issuer key `iss:1795`	add	+$20.4M	+359,830	$1.4M	$21.8M	22,319	382,149
McDonald's Corp. COMposition key `pos:16994` · issuer key `iss:1447`	trim	−$827K	−3,886	$22.6M	$21.7M	73,788	69,902
Sherwin-Williams Co. COMposition key `pos:14643` · issuer key `iss:1962`	trim	−$1.5M	−3,862	$22.8M	$21.3M	70,312	66,450
A. O. Smith Corp. COMposition key `pos:12927` · issuer key `iss:1993`	add	+$1.3M	+24,624	$19.7M	$21.0M	294,451	319,075
iShares Barclays 10-20 Year Tr COMposition key `pos:17879` · issuer key `iss:1232`	trim	−$3.9M	−36,638	$24.7M	$20.7M	242,506	205,868
iShares iBonds Dec 2035 Term T COMposition key `sid:sec:prov:b82b14d336c3b013399329bf65d7ca6a` · issuer key `cusip6:46438G`	trim	−$817K	−26,486	$21.3M	$20.4M	834,372	807,886
iShares iBonds Dec 2032 Term T COMposition key `sid:sec:prov:50e73a0e93b79645675ea51080eb92e7` · issuer key `cusip6:46436E`	add	+$9.3M	+406,914	$9.2M	$18.4M	397,180	804,094
Procter & Gamble Co. COMposition key `pos:15878` · issuer key `iss:1758`	trim	−$569K	−4,945	$18.4M	$17.8M	128,307	123,362
Medtronic plc COMposition key `pos:14280` · issuer key `iss:2560`	trim	−$2.9M	−9,716	$20.7M	$17.8M	215,117	205,401
Charles River Laboratories Int COMposition key `pos:17857` · issuer key `iss:561`	trim	−$3.7M	−5,092	$21.1M	$17.3M	105,626	100,534
Zoetis Inc. COMposition key `pos:12755` · issuer key `iss:2380`	add	+$1.1M	+17,308	$15.7M	$16.8M	124,555	141,863
iShares BB Rated Corporate Bon COMposition key `sid:sec:prov:c46e46deea7be7abe300261366fb105a` · issuer key `cusip6:46435U`	trim	−$4.1M	−83,082	$20.4M	$16.3M	433,506	350,424
Dollar Tree Inc. COMposition key `pos:19070` · issuer key `iss:750`	trim	−$13.0M	−89,910	$29.0M	$16.0M	236,023	146,113
iShares Core MSCI Europe ETF COMposition key `sid:sec:prov:59d710f05f9f670ca799bb7ce6dd04cf` · issuer key `cusip6:46434V`	trim	−$347K	−2,708	$15.6M	$15.3M	220,104	217,396
NIKE Inc. COMposition key `pos:14767` · issuer key `iss:1571`	add	−$2.0M	+16,273	$17.0M	$14.9M	266,081	282,354
iShares 3-7 Year Treasury Bond COMposition key `pos:18963` · issuer key `iss:1232`	trim	−$116K	−181	$15.0M	$14.9M	125,647	125,466
Becton Dickinson & Co. COMposition key `pos:16438` · issuer key `iss:347`	add	+$157K	+18,558	$14.5M	$14.7M	74,940	93,498
Valvoline Inc. COMposition key `pos:12978` · issuer key `iss:2243`	add	+$2.8M	+27,617	$11.7M	$14.5M	403,942	431,559
Trex Company Inc. COMposition key `pos:18307` · issuer key `iss:2159`	new	+$14.2M	+390,641	$0	$14.2M	—	390,641
Baldwin Insurance Group Inc. COMposition key `pos:18153` · issuer key `iss:303`	add	+$86.2K	+59,134	$13.9M	$14.0M	579,503	638,637
Vontier Corp. COMposition key `pos:18862` · issuer key `iss:2288`	trim	−$1.9M	−34,064	$15.6M	$13.6M	418,358	384,294
Avantis International Small Ca COMposition key `sid:sec:prov:1a16c94e63bc0be2b7b032875805818f` · issuer key `cusip6:025072`	trim	+$376K	−3,572	$11.7M	$12.1M	124,409	120,837
Walt Disney Co. COMposition key `pos:18004` · issuer key `iss:742`	trim	−$2.4M	−2,394	$14.3M	$11.9M	125,550	123,156

80 more changes below.

Mark-to-market only (no share change) · 6

Positions whose share count is identical in both quarters; the value changed with price, not with a decision.

Positions held with no share change into quarter 2026-03-31
Positionposition matched across quarters by exact reported CUSIP over a registry gap — producer-reconciled identity, never a name match `identity_reconciled_by_cusip`	Changethe reported share count is unchanged across the pair, so the position reads as held rather than as a buy or a sell; only builds before this release inferred a direction from the reported value instead `classified_by_value` · "exit" = absent this quarter: disposed, delisted, under confidential treatment, or reported instead by an affiliated manager — the filing does not say which · change not classifiable: value undisclosed on one side of the quarter pair, or neither shares nor value can classify it · "no change" = the share count is identical in both quarters; the value moved only with price, so the row is mark-to-market and never an add or a trim (Add / New / Trim / Exit / No change) · "no prior" = this filer has no comparable holdings list for the previous quarter on record — a first filing under this registration, or a quarter reported inside an affiliated manager's filing — so the position is not called a new stake	Δ valuederived by Public Filings from the published aggregate; NULL means the source did not disclose a usable value — never zero	Prev value	Curr value	Prev shares	Curr shares
Berkshire Hathaway Inc. - A COMposition key `pos:11867` · issuer key `iss:360`	no change	−$183K	$3.8M	$3.6M	5	5
Franklin Street Properties Cor COMposition key `sid:sec:prov:e91f79eaf2eef531c911d747fd14cf27` · issuer key `cusip6:35471R`	no change	−$346K	$1.2M	$818K	1,231,656	1,231,656
Curtiss-Wright Corp. COMposition key `pos:18894` · issuer key `iss:698`	no change	+$151K	$639K	$790K	1,160	1,160
American Express Co. COMposition key `pos:12704` · issuer key `iss:168`	no change	−$162K	$888K	$726K	2,400	2,400
Ameriprise Financial Inc. COMposition key `pos:17716` · issuer key `iss:189`	no change	−$22.1K	$235K	$213K	480	480
JPMorgan Chase & Co. COMposition key `pos:18958` · issuer key `iss:1247`	no change	−$19.2K	$221K	$202K	685	685

Quarter ended 2026-03-31Newest filing in this build: 2026-07-31. Per-row filing dates are on each receipt.

Truncated by Public Filings. Changes derive from the aggregate's top-25 slices and keyable positions only; unkeyable holdings are counted in the registry, not differenced. methodology §13F ↗

Book shape

2026-03-31 · concentration · vs tracked median · tick = median

Top-25 concentration: 50.3%below median 80.0%
Concentration index: 140 bpsbelow median 446 bps
Positions with value: 414 / 414median book 97.5 positions

Concentration uses reported 13F long value, not total assets. The index is withheld when any position lacks a value. Medians are over the 8,748 tracked filers with a 2026-03-31 book; the index median over the 8,662 with a complete book.

null-value positions: 0holdings whose <value> did not parse — retained and counted, never zero-filled · top-N share ·§: 50.3%share of the period's disclosed value held in the top-N positions; denominator is reported 13F value, not total assets · HHI (bps) ·§: 140integer Herfindahl–Hirschman index in basis points over disclosed position values · QoQ moves: 314

Filing history

AVAILABLE QUARTERS

Available filing periods
Period	Source
2026-03-31	EDGAR ↗
2026-06-30	EDGAR ↗

PLANNED sector rotation · Congress overlap · signals for this filer

Complete source filings on SEC EDGAR

The complete filing on EDGAR.

The position list above is served from the published Public Filings build — every position this filer reported for the selected quarter, as it reported it. This block is provenance, not a substitute: the filing itself is the record, and it is one click away. Serving this list is M2-CONTRACT §3, amended 2026-08-02; §3.1 keeps live EDGAR for filings newer than this build.

Open CONFLUENCE INVESTMENT MANAGEMENT LLC's 13F filings on SEC EDGAR ↗

Notes on this data

Reported positions

Quarter-end holdings as filed

Explore the full published position list and its source filing. This record excludes the manager’s cash, shorts and non-13(f) assets.

Share changes

Compare consecutive quarters

Position changes retain the producer’s classification and comparability flags. Share counts and reported values describe different changes.

Coverage

A snapshot, not current holdings

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Prior quarter not yet availableThis build carries one quarter for this manager: 2026-03-31. Notable managers carry four published quarters, others two.

Reported positions — 2026-03-31

1–100 of 255 issuers · $6.4B disclosed value over 414 rows · 0 undisclosed-value rows

Every row below carries ticker not yet mapped — stated once here rather than repeated on every row.

KindClassification is not joined into this reported-position view. Use the changed-positions view to compare the two published quarters.

TickerThis list carries reported issuer names and security identities, without a dated ticker mapping. Symbols are not inferred from names.

Issuera position composed from a base filing plus NEW-HOLDINGS amendments keeps every source row here; the composition's latest filed date is the one shown served from this build's published holdings (derived from the filer's own reported rows); every row resolves to its filing

WeightShare of total reported value, calculated only when the full position list has disclosed values. This is 13F long value, not total assets.

Valuevalue undisclosed on the filing: retained and counted, excluded from sums, never shown as $0

Position changeShare change is available in the separate comparison view; it is not joined into this position list.

CongressThe congressional transaction join is unavailable in this build.

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iShares 0-3 Month Treasury Bon

7 positions · 8 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for iShares 0-3 Month Treasury Bon, as it reported them
iShares 0-3 Month Treasury Bon · COM CUSIP 46436E718 src ↗	$176M	1,748,064
iShares iBonds Dec 2033 Term T · COM CUSIP 46436E148 src ↗	$26.4M	1,081,896
iShares iBonds Dec 2031 Term T · COM CUSIP 46436E460 src ↗	$24.5M	1,202,814
iShares iBonds Dec 2032 Term T · COM CUSIP 46436E296 src ↗	$18.4M	804,094
iShares iBonds Dec 2030 Term T · COM CUSIP 46436E593 src ↗	$7.0M	353,634
iShares iBonds Dec 2029 Term T · COM CUSIP 46436E825 src ↗	$4.0M	183,271
iShares iBonds Dec 2029 Term M · COM CUSIP 46436E163 src ↗	$2.2M	86,709
iShares 0-3 Month Treasury Bon · COM CUSIP 46436E718 src ↗	$549K	5,450

$259M

5,465,932

—

4.0%

—

SPDR Portfolio Mortgage Backed

7 positions · 13 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for SPDR Portfolio Mortgage Backed, as it reported them
SPDR Portfolio Mortgage Backed · COM CUSIP — src ↗	$86.3M	3,853,147
SPDR Portfolio S&P 500 Growth · COM CUSIP — src ↗	$51.7M	527,820
SPDR Portfolio S&P 500 Value E · COM CUSIP — src ↗	$44.7M	789,989
SPDR S&P Dividend ETF · COM CUSIP — src ↗	$10.0M	68,646
SPDR Nuveen S&P High Yield Mun · COM CUSIP — src ↗	$3.1M	124,905
SPDR S&P 400 Mid Cap Growth ET · COM CUSIP — src ↗	$1.3M	13,384
SPDR S&P 400 Mid Cap Value ETF · COM CUSIP — src ↗	$675K	7,928
SPDR Portfolio S&P 500 Growth · COM CUSIP — src ↗	$52.2K	533
SPDR Portfolio S&P 500 Value E · COM CUSIP — src ↗	$23.5K	415
SPDR S&P Dividend ETF · COM CUSIP — src ↗	$9.3K	64
SPDR Portfolio Mortgage Backed · COM CUSIP — src ↗	$7.7K	346
SPDR S&P 400 Mid Cap Growth ET · COM CUSIP — src ↗	$7.1K	74
SPDR S&P 400 Mid Cap Value ETF · COM CUSIP — src ↗	$3.8K	44

$198M

5,387,295

—

3.1%

—

ADIverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Analog Devices Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Analog Devices Inc., as it reported them
Analog Devices Inc. · COM CUSIP — src ↗	$171M	538,690
Analog Devices Inc. · COM CUSIP — src ↗	$620K	1,950

$172M

540,640

—

2.7%

—

LMTverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Lockheed Martin Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Lockheed Martin Corp., as it reported them
Lockheed Martin Corp. · COM CUSIP — src ↗	$162M	268,656
Lockheed Martin Corp. · COM CUSIP — src ↗	$595K	984

$163M

269,640

—

2.5%

—

CVXverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Chevron Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Chevron Corp., as it reported them
Chevron Corp. · COM CUSIP — src ↗	$159M	769,615
Chevron Corp. · COM CUSIP — src ↗	$544K	2,628

$160M

772,243

—

2.5%

—

SNAverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Snap-on Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Snap-on Inc., as it reported them
Snap-on Inc. · COM CUSIP — src ↗	$158M	434,299
Snap-on Inc. · COM CUSIP — src ↗	$580K	1,597

$158M

435,896

—

2.5%

—

CBverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Chubb Ltd.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Chubb Ltd., as it reported them
Chubb Ltd. · COM CUSIP — src ↗	$156M	480,161
Chubb Ltd. · COM CUSIP — src ↗	$613K	1,882

$157M

482,043

—

2.4%

—

HSYverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Hershey Co.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Hershey Co., as it reported them
Hershey Co. · COM CUSIP — src ↗	$143M	687,428
Hershey Co. · COM CUSIP — src ↗	$607K	2,921

$144M

690,349

—

2.2%

—

WECverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

WEC Energy Group Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for WEC Energy Group Inc., as it reported them
WEC Energy Group Inc. · COM CUSIP — src ↗	$143M	1,232,488
WEC Energy Group Inc. · COM CUSIP — src ↗	$524K	4,528

$143M

1,237,016

—

2.2%

—

LINverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Linde plc

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Linde plc, as it reported them
Linde plc · COM CUSIP — src ↗	$140M	282,024
Linde plc · COM CUSIP — src ↗	$520K	1,048

$140M

283,072

—

2.2%

—

ETRverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Entergy Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Entergy Corp., as it reported them
Entergy Corp. · COM CUSIP — src ↗	$138M	1,224,023
Entergy Corp. · COM CUSIP — src ↗	$591K	5,264

$138M

1,229,287

—

2.1%

—

FASTverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Fastenal Co.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Fastenal Co., as it reported them
Fastenal Co. · COM CUSIP — src ↗	$137M	2,956,106
Fastenal Co. · COM CUSIP — src ↗	$493K	10,616

$138M

2,966,722

—

2.1%

—

SOverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Southern Co.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Southern Co., as it reported them
Southern Co. · COM CUSIP — src ↗	$137M	1,416,787
Southern Co. · COM CUSIP — src ↗	$491K	5,084

$137M

1,421,871

—

2.1%

—

Mondelez International Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Mondelez International Inc., as it reported them
Mondelez International Inc. · COM CUSIP — src ↗	$121M	2,105,307
Mondelez International Inc. · COM CUSIP — src ↗	$435K	7,549

$122M

2,112,856

—

1.9%

—

GILDverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Gilead Sciences Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Gilead Sciences Inc., as it reported them
Gilead Sciences Inc. · COM CUSIP — src ↗	$120M	857,573
Gilead Sciences Inc. · COM CUSIP — src ↗	$481K	3,450

$120M

861,023

—

1.9%

—

CSCOverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Cisco Systems Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Cisco Systems Inc., as it reported them
Cisco Systems Inc. · COM CUSIP — src ↗	$119M	1,534,328
Cisco Systems Inc. · COM CUSIP — src ↗	$513K	6,618

$120M

1,540,946

—

1.9%

—

KMIverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Kinder Morgan Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Kinder Morgan Inc., as it reported them
Kinder Morgan Inc. · COM CUSIP — src ↗	$116M	3,474,290
Kinder Morgan Inc. · COM CUSIP — src ↗	$493K	14,716

$117M

3,489,006

—

1.8%

—

PGRverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Progressive Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Progressive Corp., as it reported them
Progressive Corp. · COM CUSIP — src ↗	$115M	578,026
Progressive Corp. · COM CUSIP — src ↗	$443K	2,233

$115M

580,259

—

1.8%

—

HONverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Honeywell International Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Honeywell International Inc., as it reported them
Honeywell International Inc. · COM CUSIP — src ↗	$112M	497,593
Honeywell International Inc. · COM CUSIP — src ↗	$513K	2,269

$113M

499,862

—

1.8%

—

American Water Works Co. Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for American Water Works Co. Inc., as it reported them
American Water Works Co. Inc. · COM CUSIP — src ↗	$110M	807,028
American Water Works Co. Inc. · COM CUSIP — src ↗	$399K	2,930

$110M

809,958

—

1.7%

—

CLverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Colgate-Palmolive Co.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Colgate-Palmolive Co., as it reported them
Colgate-Palmolive Co. · COM CUSIP — src ↗	$106M	1,246,221
Colgate-Palmolive Co. · COM CUSIP — src ↗	$330K	3,869

$107M

1,250,090

—

1.7%

—

HDverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Home Depot Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Home Depot Inc., as it reported them
Home Depot Inc. · COM CUSIP — src ↗	$105M	318,791
Home Depot Inc. · COM CUSIP — src ↗	$372K	1,132

$105M

319,923

—

1.6%

—

Diageo plc

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Diageo plc, as it reported them
Diageo plc · COM CUSIP — src ↗	$100M	1,347,102
Diageo plc · COM CUSIP — src ↗	$471K	6,332

$101M

1,353,434

—

1.6%

—

CLXverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Clorox Co.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Clorox Co., as it reported them
Clorox Co. · COM CUSIP — src ↗	$96.3M	929,350
Clorox Co. · COM CUSIP — src ↗	$334K	3,225

$96.6M

932,575

—

1.5%

—

NTRSverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Northern Trust Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Northern Trust Corp., as it reported them
Northern Trust Corp. · COM CUSIP — src ↗	$94.6M	677,448
Northern Trust Corp. · COM CUSIP — src ↗	$392K	2,812

$94.9M

680,260

—

1.5%

—

U.S. Bancorp

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for U.S. Bancorp, as it reported them
U.S. Bancorp · COM CUSIP — src ↗	$92.4M	1,777,295
U.S. Bancorp · COM CUSIP — src ↗	$370K	7,108

$92.8M

1,784,403

—

1.4%

—

Fidelity National Financial In

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Fidelity National Financial In, as it reported them
Fidelity National Financial In · COM CUSIP — src ↗	$90.4M	1,948,620
Fidelity National Financial In · COM CUSIP — src ↗	$389K	8,387

$90.8M

1,957,007

—

1.4%

—

PAYXverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Paychex Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Paychex Inc., as it reported them
Paychex Inc. · COM CUSIP — src ↗	$89.0M	966,422
Paychex Inc. · COM CUSIP — src ↗	$312K	3,387

$89.3M

969,809

—

1.4%

—

Broadridge Financial Solutions

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Broadridge Financial Solutions, as it reported them
Broadridge Financial Solutions · COM CUSIP — src ↗	$86.4M	531,732
Broadridge Financial Solutions · COM CUSIP — src ↗	$432K	2,661

$86.8M

534,393

—

1.3%

—

T. Rowe Price Group Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for T. Rowe Price Group Inc., as it reported them
T. Rowe Price Group Inc. · COM CUSIP — src ↗	$86.5M	960,004
T. Rowe Price Group Inc. · COM CUSIP — src ↗	$285K	3,163

$86.8M

963,167

—

1.3%

—

iShares MBS ETF

5 positions · 6 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for iShares MBS ETF, as it reported them
iShares MBS ETF · COM CUSIP — src ↗	$31.6M	332,934
iShares Barclays 10-20 Year Tr · COM CUSIP — src ↗	$20.7M	205,868
iShares 3-7 Year Treasury Bond · COM CUSIP — src ↗	$14.9M	125,426
iShares 1-5 Year Investment Gr · COM CUSIP — src ↗	$11.8M	225,126
iShares National Muni Bond ETF · COM CUSIP — src ↗	$3.4M	31,662
iShares 3-7 Year Treasury Bond · COM CUSIP — src ↗	$4.7K	40

$82.4M

921,056

—

1.3%

—

NDSNverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Nordson Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Nordson Corp., as it reported them
Nordson Corp. · COM CUSIP — src ↗	$81.8M	307,477
Nordson Corp. · COM CUSIP — src ↗	$210K	790

$82.0M

308,267

—

1.3%

—

Dow Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Dow Inc., as it reported them
Dow Inc. · COM CUSIP — src ↗	$77.5M	1,861,460
Dow Inc. · COM CUSIP — src ↗	$370K	8,888

$77.9M

1,870,348

—

1.2%

—

W. R. Berkley Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for W. R. Berkley Corp., as it reported them
W. R. Berkley Corp. · COM CUSIP — src ↗	$73.6M	1,110,597
W. R. Berkley Corp. · COM CUSIP — src ↗	$186K	2,803

$73.8M

1,113,400

—

1.1%

—

MAverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Mastercard Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Mastercard Inc., as it reported them
Mastercard Inc. · COM CUSIP — src ↗	$73.0M	146,158
Mastercard Inc. · COM CUSIP — src ↗	$188K	376

$73.2M

146,534

—

1.1%

—

SPDR Portfolio Developed World

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for SPDR Portfolio Developed World, as it reported them
SPDR Portfolio Developed World · COM CUSIP 78463X889 src ↗	$72.6M	1,591,320
SPDR Portfolio Developed World · COM CUSIP 78463X889 src ↗	$53.5K	1,173

$72.7M

1,592,493

—

1.1%

—

TJX Co. Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for TJX Co. Inc., as it reported them
TJX Co. Inc. · COM CUSIP — src ↗	$71.1M	445,276
TJX Co. Inc. · COM CUSIP — src ↗	$200K	1,250

$71.3M

446,526

—

1.1%

—

SYKverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Stryker Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Stryker Corp., as it reported them
Stryker Corp. · COM CUSIP — src ↗	$68.2M	207,537
Stryker Corp. · COM CUSIP — src ↗	$172K	522

$68.4M

208,059

—

1.1%

—

Accenture plc

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Accenture plc, as it reported them
Accenture plc · COM CUSIP — src ↗	$67.3M	339,366
Accenture plc · COM CUSIP — src ↗	$287K	1,446

$67.6M

340,812

—

1.0%

—

APDverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Air Products and Chemicals Inc

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Air Products and Chemicals Inc, as it reported them
Air Products and Chemicals Inc · COM CUSIP — src ↗	$63.1M	217,227
Air Products and Chemicals Inc · COM CUSIP — src ↗	$75.5K	260

$63.2M

217,487

—

1.0%

—

ARCCverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Ares Capital Corp.

1 position · 3 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Ares Capital Corp., as it reported them
Ares Capital Corp. · COM CUSIP — src ↗	$58.3M	3,235,607
Ares Capital Corp. · COM CUSIP — src ↗	$3.4M	186,486
Ares Capital Corp. · COM CUSIP — src ↗	$238K	13,196

$61.9M

3,435,289

—

1.0%

—

SPGIverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

S&P Global Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for S&P Global Inc., as it reported them
S&P Global Inc. · COM CUSIP — src ↗	$57.0M	133,907
S&P Global Inc. · COM CUSIP — src ↗	$159K	373

$57.1M

134,280

—

0.9%

—

MSFTverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Microsoft Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Microsoft Corp., as it reported them
Microsoft Corp. · COM CUSIP — src ↗	$54.8M	147,997
Microsoft Corp. · COM CUSIP — src ↗	$227K	614

$55.0M

148,611

—

0.9%

—

ITWverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Illinois Tool Works Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Illinois Tool Works Inc., as it reported them
Illinois Tool Works Inc. · COM CUSIP — src ↗	$53.9M	206,928
Illinois Tool Works Inc. · COM CUSIP — src ↗	$60.1K	231

$53.9M

207,159

—

0.8%

—

KEYSverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Keysight Technologies Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Keysight Technologies Inc., as it reported them
Keysight Technologies Inc. · COM CUSIP — src ↗	$50.4M	178,582
Keysight Technologies Inc. · COM CUSIP — src ↗	$260K	922

$50.7M

179,504

—

0.8%

—

MASverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Masco Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Masco Corp., as it reported them
Masco Corp. · COM CUSIP — src ↗	$50.0M	827,628
Masco Corp. · COM CUSIP — src ↗	$58.9K	976

$50.0M

828,604

—

0.8%

—

Lowe's Co. Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Lowe's Co. Inc., as it reported them
Lowe's Co. Inc. · COM CUSIP — src ↗	$49.5M	209,302
Lowe's Co. Inc. · COM CUSIP — src ↗	$180K	762

$49.6M

210,064

—

0.8%

—

Alphabet Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Alphabet Inc., as it reported them
Alphabet Inc. · COM CUSIP — src ↗	$49.4M	172,213
Alphabet Inc. · COM CUSIP — src ↗	$191K	666

$49.6M

172,879

—

0.8%

—

GGGverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Graco Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Graco Inc., as it reported them
Graco Inc. · COM CUSIP — src ↗	$49.4M	583,634
Graco Inc. · COM CUSIP — src ↗	$176K	2,080

$49.6M

585,714

—

0.8%

—

PAYCverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Paycom Software Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Paycom Software Inc., as it reported them
Paycom Software Inc. · COM CUSIP — src ↗	$49.3M	405,788
Paycom Software Inc. · COM CUSIP — src ↗	$238K	1,959

$49.6M

407,747

—

0.8%

—

Berkshire Hathaway Inc. - B

2 positions · 3 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Berkshire Hathaway Inc. - B, as it reported them
Berkshire Hathaway Inc. - B · COM CUSIP — src ↗	$44.5M	92,901
Berkshire Hathaway Inc. - A · COM CUSIP — src ↗	$3.6M	5
Berkshire Hathaway Inc. - B · COM CUSIP — src ↗	$173K	360

$48.3M

93,266

—

0.7%

—

TMOverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Thermo Fisher Scientific Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Thermo Fisher Scientific Inc., as it reported them
Thermo Fisher Scientific Inc. · COM CUSIP — src ↗	$44.1M	89,808
Thermo Fisher Scientific Inc. · COM CUSIP — src ↗	$169K	343

$44.3M

90,151

—

0.7%

—

iShares iBonds Dec 2034 Term T

2 positions · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for iShares iBonds Dec 2034 Term T, as it reported them
iShares iBonds Dec 2034 Term T · COM CUSIP 46438G646 src ↗	$23.6M	919,178
iShares iBonds Dec 2035 Term T · COM CUSIP 46438G422 src ↗	$20.4M	807,886

$44.0M

1,727,064

—

0.7%

—

NXPIverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

NXP Semiconductors N.V.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for NXP Semiconductors N.V., as it reported them
NXP Semiconductors N.V. · COM CUSIP — src ↗	$43.1M	218,951
NXP Semiconductors N.V. · COM CUSIP — src ↗	$172K	873

$43.3M

219,824

—

0.7%

—

Arch Capital Group Ltd.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Arch Capital Group Ltd., as it reported them
Arch Capital Group Ltd. · COM CUSIP — src ↗	$34.9M	363,397
Arch Capital Group Ltd. · COM CUSIP — src ↗	$66.1K	689

$34.9M

364,086

—

0.5%

—

MLMverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Martin Marietta Materials Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Martin Marietta Materials Inc., as it reported them
Martin Marietta Materials Inc. · COM CUSIP — src ↗	$33.4M	56,743
Martin Marietta Materials Inc. · COM CUSIP — src ↗	$65.9K	112

$33.5M

56,855

—

0.5%

—

Brown-Forman Corp. - B

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Brown-Forman Corp. - B, as it reported them
Brown-Forman Corp. - B · COM CUSIP — src ↗	$32.6M	1,232,964
Brown-Forman Corp. - B · COM CUSIP — src ↗	$123K	4,657

$32.7M

1,237,621

—

0.5%

—

SPDR Gold MiniShares Trust ETF

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for SPDR Gold MiniShares Trust ETF, as it reported them
SPDR Gold MiniShares Trust ETF · COM CUSIP — src ↗	$30.8M	332,714
SPDR Gold MiniShares Trust ETF · COM CUSIP — src ↗	$24.1K	260

$30.9M

332,974

—

0.5%

—

MORNverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Morningstar Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Morningstar Inc., as it reported them
Morningstar Inc. · COM CUSIP — src ↗	$29.9M	176,798
Morningstar Inc. · COM CUSIP — src ↗	$130K	770

$30.0M

177,568

—

0.5%

—

CARRverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Carrier Global Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Carrier Global Corp., as it reported them
Carrier Global Corp. · COM CUSIP — src ↗	$28.6M	508,596
Carrier Global Corp. · COM CUSIP — src ↗	$143K	2,541

$28.8M

511,137

—

0.4%

—

SBUXverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Starbucks Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Starbucks Corp., as it reported them
Starbucks Corp. · COM CUSIP — src ↗	$28.1M	313,891
Starbucks Corp. · COM CUSIP — src ↗	$111K	1,240

$28.2M

315,131

—

0.4%

—

BROverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Brown & Brown Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Brown & Brown Inc., as it reported them
Brown & Brown Inc. · COM CUSIP — src ↗	$26.3M	403,060
Brown & Brown Inc. · COM CUSIP — src ↗	$103K	1,585

$26.4M

404,645

—

0.4%

—

BKNGverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Booking Holdings Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Booking Holdings Inc., as it reported them
Booking Holdings Inc. · COM CUSIP — src ↗	$25.8M	6,132
Booking Holdings Inc. · COM CUSIP — src ↗	$46.3K	11

$25.9M

6,143

—

0.4%

—

Constellation Brands

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Constellation Brands, as it reported them
Constellation Brands · COM CUSIP — src ↗	$25.7M	171,277
Constellation Brands · COM CUSIP — src ↗	$55.5K	370

$25.7M

171,647

—

0.4%

—

GDverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

General Dynamics Corp.

src ↗

General Dynamics Corp. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$24.3M

70,894

—

0.4%

—

EOGverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

EOG Resources Inc.

src ↗

EOG Resources Inc. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$24.0M

165,675

—

0.4%

—

ECLverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Ecolab Inc.

src ↗

Ecolab Inc. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$23.8M

89,454

—

0.4%

—

APHverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Amphenol Corp.

src ↗

Amphenol Corp. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$23.5M

185,611

—

0.4%

—

TTCverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Toro Co.

src ↗

Toro Co. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$23.4M

250,943

—

0.4%

—

Expeditors International of Wa

src ↗

Expeditors International of Wa · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$23.0M

160,703

—

0.4%

—

New Jersey Resources Corp.

src ↗

New Jersey Resources Corp. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$22.9M

416,958

—

0.4%

—

DCIverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Donaldson Co. Inc.

src ↗

Donaldson Co. Inc. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$22.6M

265,723

—

0.4%

—

RMDverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

ResMed Inc.

src ↗

ResMed Inc. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$22.4M

99,845

—

0.3%

—

RLIverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

RLI Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for RLI Corp., as it reported them
RLI Corp. · COM CUSIP — src ↗	$21.8M	381,686
RLI Corp. · COM CUSIP — src ↗	$26.4K	463

$21.8M

382,149

—

0.3%

—

MCDverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

McDonald's Corp.

src ↗

McDonald's Corp. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$21.7M

69,902

—

0.3%

—

SHWverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Sherwin-Williams Co.

src ↗

Sherwin-Williams Co. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$21.3M

66,450

—

0.3%

—

A. O. Smith Corp.

src ↗

A. O. Smith Corp. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$21.0M

319,075

—

0.3%

—

iShares BB Rated Corporate Bon

4 positions · 4 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for iShares BB Rated Corporate Bon, as it reported them
iShares BB Rated Corporate Bon · COM CUSIP 46435U473 src ↗	$16.3M	350,424
iShares iBonds Dec 2028 Term M · COM CUSIP 46435U325 src ↗	$2.5M	99,101
iShares iBonds Dec 2027 Term M · COM CUSIP 46435U283 src ↗	$819K	32,206
iShares iBonds Dec 2026 Term M · COM CUSIP 46435U259 src ↗	$337K	13,150

$20.0M

494,881

—

0.3%

—

Invesco BulletShares 2034 Muni

3 positions · 3 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Invesco BulletShares 2034 Muni, as it reported them
Invesco BulletShares 2034 Muni · COM CUSIP 46139W767 src ↗	$7.9M	327,709
Invesco Bulletshares 2033 Muni · COM CUSIP 46139W791 src ↗	$6.0M	237,863
Invesco BulletShares 2032 Munc · COM CUSIP 46139W833 src ↗	$5.3M	212,666

$19.3M

778,238

—

0.3%

—

PGverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Procter & Gamble Co.

src ↗

Procter & Gamble Co. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$17.8M

123,362

—

0.3%

—

Medtronic plc

src ↗

Medtronic plc · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$17.8M

205,401

—

0.3%

—

Charles River Laboratories Int

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Charles River Laboratories Int, as it reported them
Charles River Laboratories Int · COM CUSIP — src ↗	$17.1M	99,256
Charles River Laboratories Int · COM CUSIP — src ↗	$220K	1,278

$17.3M

100,534

—

0.3%

—

Invesco BulletShares 2031 Muni

4 positions · 4 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Invesco BulletShares 2031 Muni, as it reported them
Invesco BulletShares 2031 Muni · COM CUSIP 46138J411 src ↗	$6.5M	311,374
Invesco BulletShares 2035 Muni · COM CUSIP 46138J353 src ↗	$5.6M	223,117
Invesco BulletShares 2030 Muni · COM CUSIP 46138J445 src ↗	$2.7M	123,052
Invesco BulletShares 2029 Muni · COM CUSIP 46138J478 src ↗	$2.4M	104,378

$17.2M

761,921

—

0.3%

—

Zoetis Inc.

src ↗

Zoetis Inc. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$16.8M

141,863

—

0.3%

—

DLTRverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Dollar Tree Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Dollar Tree Inc., as it reported them
Dollar Tree Inc. · COM CUSIP — src ↗	$15.8M	144,521
Dollar Tree Inc. · COM CUSIP — src ↗	$174K	1,592

$16.0M

146,113

—

0.2%

—

iShares Core MSCI Europe ETF

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for iShares Core MSCI Europe ETF, as it reported them
iShares Core MSCI Europe ETF · COM CUSIP 46434V738 src ↗	$15.3M	217,255
iShares Core MSCI Europe ETF · COM CUSIP 46434V738 src ↗	$9.9K	141

$15.3M

217,396

—

0.2%

—

NIKE Inc.

src ↗

NIKE Inc. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$14.9M

282,354

—

0.2%

—

BDXverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Becton Dickinson & Co.

src ↗

Becton Dickinson & Co. · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$14.7M

93,498

—

0.2%

—

VVVverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Valvoline Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Valvoline Inc., as it reported them
Valvoline Inc. · COM CUSIP — src ↗	$14.4M	427,374
Valvoline Inc. · COM CUSIP — src ↗	$141K	4,185

$14.5M

431,559

—

0.2%

—

TREXverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Trex Company Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Trex Company Inc., as it reported them
Trex Company Inc. · COM CUSIP — src ↗	$14.1M	386,827
Trex Company Inc. · COM CUSIP — src ↗	$139K	3,814

$14.2M

390,641

—

0.2%

—

Baldwin Insurance Group Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Baldwin Insurance Group Inc., as it reported them
Baldwin Insurance Group Inc. · COM CUSIP — src ↗	$13.9M	631,699
Baldwin Insurance Group Inc. · COM CUSIP — src ↗	$152K	6,938

$14.0M

638,637

—

0.2%

—

VNTverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Vontier Corp.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Vontier Corp., as it reported them
Vontier Corp. · COM CUSIP — src ↗	$13.5M	380,439
Vontier Corp. · COM CUSIP — src ↗	$137K	3,855

$13.6M

384,294

—

0.2%

—

Avantis International Small Ca

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Avantis International Small Ca, as it reported them
Avantis International Small Ca · COM CUSIP 025072802 src ↗	$12.1M	120,760
Avantis International Small Ca · COM CUSIP 025072802 src ↗	$7.7K	77

$12.1M

120,837

—

0.2%

—

Walt Disney Co.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Walt Disney Co., as it reported them
Walt Disney Co. · COM CUSIP — src ↗	$11.8M	121,996
Walt Disney Co. · COM CUSIP — src ↗	$112K	1,160

$11.9M

123,156

—

0.2%

—

CPRTverified against the SEC company list on 2026-09-10 — a reviewed mapping row for this filed issuer name and class (never inferred)

Copart Inc.

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Copart Inc., as it reported them
Copart Inc. · COM CUSIP — src ↗	$10.3M	311,023
Copart Inc. · COM CUSIP — src ↗	$97.7K	2,942

$10.4M

313,965

—

0.2%

—

VanEck Gold Miners ETF

3 positions · 4 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for VanEck Gold Miners ETF, as it reported them
VanEck Gold Miners ETF · COM CUSIP 92189F106 src ↗	$5.8M	63,691
VanEck Vectors Long Municipal · COM CUSIP 92189F536 src ↗	$3.0M	169,953
VanEck Junior Gold Miners ETF · COM CUSIP 92189F791 src ↗	$1.5M	12,437
VanEck Junior Gold Miners ETF · COM CUSIP 92189F791 src ↗	$6.5K	54

$10.3M

246,135

—

0.2%

—

Dimensional National Municipal

src ↗

Dimensional National Municipal · COM CUSIP 25434V849
2026-03-31 filed 2026-04-01 +1d

$9.8M

205,362

—

0.2%

—

Global X Defense Tech ETF

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for Global X Defense Tech ETF, as it reported them
Global X Defense Tech ETF · COM CUSIP 37960A529 src ↗	$8.7M	123,174
Global X Defense Tech ETF · COM CUSIP 37960A529 src ↗	$7.2K	102

$8.7M

123,276

—

0.1%

—

iShares MSCI Global Metals & M

1 position · 2 reported rows

Rows CONFLUENCE INVESTMENT MANAGEMENT LLC reported for iShares MSCI Global Metals & M, as it reported them
iShares MSCI Global Metals & M · COM CUSIP — src ↗	$8.1M	143,841
iShares MSCI Global Metals & M · COM CUSIP — src ↗	$7.4K	131

$8.1M

143,972

—

0.1%

—

SPDR S&P 500 ETF

src ↗

SPDR S&P 500 ETF · COM CUSIP —
2026-03-31 filed 2026-04-01 +1d

$7.8M

11,922

—

0.1%

—

every row this filer reported for the quarter, as it reported it — cross-filer de-duplication is applied to issuer totals elsewhere and never deletes a row here

A 13F is a quarterly, long-only snapshot filed up to 45 days late — not current holdings. what a 13F covers ↗

13F reports cover LONG positions in Section 13(f) securities (US exchange-traded equities plus reportable options, warrants, certain convertibles) held by managers with at least $100M in such securities — so managers below that threshold are absent entirely. No short positions, no cash, no non-13(f) assets — not a full portfolio, and not a census of institutional ownership.

Positions are quarter-end snapshots filed up to 45 days late — not current holdings. A position may have been changed or closed before you ever see it, and is older still by however long ago that quarter ended.

Values are the manager's stated market value at quarter-end in era-dependent units (whole dollars for form versions effective 2023-01-03 onward, thousands before), normalized here to whole dollars with unit_basis carried on every record.

Affiliated managers may report the same position (otherManager), so one position can appear under more than one filer.

Positions under confidential treatment may be omitted until a later amendment discloses them.

These are disclosures, not investment advice (ARCHITECTURE.md §5.2 / M2-CONTRACT §5).