Confluence Investment Management LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 1, 2026), Confluence Investment Management LLC reported 290 stock positions worth $6.4 billion. Its top holding was iShares 0-3 Month Treasury B (SGOV) at 4.4% of the portfolio, followed by Snap-on (SNA, 2.6%) and Chubb (CB, 2.5%). Compared with Q1 2026, it opened 27 new positions, sold out of 21, added to 109 and reduced 147. The biggest buy was a new position in Stanley Black & Decker (SWK) and the biggest sale Honeywell International (HON, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- ST. LOUIS, MO
- CIK
- 0001442056
- Portfolio Value
- $6.4B (Q2 2026)
- SEC Filing
- 0001442056-26-000006 ↗ filed Jul 1, 2026
Holdings Value
Holdings 290 stocks · $6.4B
| SGOV iShares 0-3 Month Treasury B | 4.39% | 2,788,012 | $280.7M | Add +59.0% |
| SNA Snap-on Inc. | 2.62% | 417,132 | $167.9M | Reduce -4.3% |
| CB Chubb Ltd. | 2.45% | 460,772 | $157.0M | Reduce -4.4% |
| LIN Linde PLC | 2.20% | 270,727 | $140.5M | Reduce -4.4% |
| WEC WEC Energy Group Inc. | 2.17% | 1,191,332 | $139.1M | Reduce -3.7% |
| FAST Fastenal Co. | 2.12% | 2,829,738 | $135.9M | Reduce -4.6% |
| ETR Entergy Corp. | 2.08% | 1,156,624 | $132.8M | Reduce -5.9% |
| LMT Lockheed Martin Corp. | 2.06% | 258,577 | $131.7M | Reduce -4.1% |
| SO The Southern Co. | 2.05% | 1,370,593 | $131.2M | Reduce -3.6% |
| SWK Stanley Black & Decker Inc. | 1.98% | 1,348,374 | $126.9M | New |
| CVX Chevron Corp. | 1.92% | 742,863 | $123.1M | Reduce -3.8% |
| PGR Progressive Corp. | 1.90% | 557,408 | $121.8M | Reduce -3.9% |
| CLX Clorox Company | 1.86% | 1,247,644 | $119.1M | Add +33.8% |
| MDLZ Mondelez International Inc. Class A | 1.85% | 2,044,332 | $118.2M | Reduce -3.2% |
| ADI Analog Devices Inc. | 1.82% | 293,390 | $116.5M | Reduce -45.7% |
| HSY The Hershey Co. | 1.82% | 663,243 | $116.4M | Reduce -3.9% |
| NTRS Northern Trust Corp. | 1.79% | 660,416 | $114.8M | Reduce -2.9% |
| CL Colgate-Palmolive Co. | 1.73% | 1,209,372 | $110.9M | Reduce -3.3% |
| HD Home Depot Inc. | 1.72% | 311,263 | $109.8M | Reduce -2.7% |
| KMI Kinder Morgan Inc. | 1.68% | 3,368,817 | $107.7M | Reduce -3.4% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.66% | 936,409 | $106.5M | Reduce -2.8% |
| GILD Gilead Sciences Inc. | 1.64% | 832,632 | $105.2M | Reduce -3.3% |
| USB US Bancorp | 1.64% | 1,734,918 | $104.8M | Reduce -2.8% |
| AWK American Water Works Co. Inc. | 1.60% | 780,309 | $102.7M | Reduce -3.7% |
| CSCO Cisco Systems Inc. | 1.54% | 841,787 | $98.9M | Reduce -45.4% |
| PAYX Paychex Inc. | 1.46% | 952,424 | $93.7M | Reduce -1.8% |
| FNF Fidelity National Financial | 1.41% | 1,908,912 | $90.0M | Reduce -2.5% |
| NDSN Nordson Corp. | 1.33% | 281,120 | $84.8M | Reduce -8.8% |
| SPMB SS SPDR P Mort Back Bond ETF | 1.17% | 3,370,501 | $75.2M | Reduce -12.5% |
| SPDW Ste STR SPDR PT DW Eu ETF | 1.17% | 1,482,773 | $74.7M | Reduce -6.9% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 1.14% | 1,031,752 | $72.8M | Reduce -7.3% |
| BR Broadridge Financial Solutio | 1.12% | 523,341 | $71.7M | Reduce -2.1% |
| MA Mastercard Inc. Class A | 1.10% | 136,514 | $70.1M | Reduce -6.8% |
| SPYG SS SPDR P S&P 500 Growth ETF | 1.07% | 573,709 | $68.3M | Add +8.6% |
| SYK Stryker Corp. | 1.04% | 212,000 | $66.7M | Add +1.9% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.99% | 1,047,254 | $63.7M | Add +32.5% |
| MAS Masco Corp. | 0.98% | 768,680 | $62.5M | Reduce -7.2% |
| DEO Diageo PLC-Sponsored ADR | 0.98% | 776,936 | $62.5M | Reduce -42.6% |
| ARCC Ares Capital Corp. | 0.97% | 3,367,580 | $62.4M | Reduce -2.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.96% | 406,868 | $61.6M | Reduce -8.9% |
| APD Air Products & Chemicals Inc. | 0.93% | 202,897 | $59.5M | Reduce -6.7% |
| SPGI S&P Global Inc. | 0.90% | 141,607 | $57.7M | Add +5.5% |
| HON Honeywell International Inc. | 0.84% | 240,572 | $53.9M | Reduce -3.7% |
| MSFT Microsoft Corp. | 0.83% | 142,894 | $53.3M | Reduce -3.9% |
| HONA Honeywell Aerospace Inc. | 0.83% | 241,062 | $53.3M | Reduce -3.5% |
| ITW Illinois Tool Works | 0.82% | 193,034 | $52.2M | Reduce -6.8% |
| DOW Dow Inc. filed as DOW HLDGS INC | 0.79% | 1,850,660 | $50.6M | Reduce -1.1% |
| PAYC Paycom Software Inc. | 0.74% | 374,387 | $47.1M | Reduce -8.2% |
| TMO Thermo Fisher Scientific Inc. | 0.73% | 92,781 | $46.5M | Add +2.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.68% | 86,570 | $43.3M | Reduce -7.2% |
| ACN Accenture PLC Class A | 0.66% | 341,854 | $42.5M | Add +0.3% |
| NXPI NXP Semiconductors NV | 0.66% | 151,365 | $42.5M | Reduce -31.1% |
| LOW Lowe's Cos Inc. | 0.66% | 192,874 | $42.5M | Reduce -8.2% |
| GGG Graco Inc. | 0.65% | 549,102 | $41.5M | Reduce -6.3% |
| GLDM SPDR Gold Minishares Trust | 0.65% | 522,617 | $41.5M | Add +57.0% |
| GOOG Alphabet Inc. Class C | 0.64% | 115,450 | $40.8M | Reduce -33.2% |
| BKNG Booking Holdings Inc. | 0.54% | 194,765 | $34.7M | Add +26.8% |
| CARR Carrier Global Corp. | 0.54% | 472,778 | $34.7M | Reduce -7.5% |
| TLH iShares 10-20 Year Treasury | 0.53% | 335,581 | $33.7M | Add +63.0% |
| ZTS Zoetis Inc. | 0.52% | 465,449 | $33.4M | Add +228.1% |
| ACGL Arch Capital Group Ltd. | 0.51% | 333,833 | $32.4M | Reduce -8.3% |
| BF.B Brown-Forman Corp. Class B | 0.48% | 1,152,060 | $30.7M | Reduce -6.9% |
| MLM Martin Marietta Materials | 0.47% | 52,207 | $30.1M | Reduce -8.2% |
| MBB iShares MBS ETF | 0.45% | 303,528 | $28.7M | Reduce -8.8% |
| IBTQ iShares Ibonds Dec 2035 TT | 0.41% | 1,044,548 | $26.2M | Add +29.3% |
| MORN Morningstar Inc. | 0.41% | 166,257 | $25.9M | Reduce -6.4% |
| BRO Brown & Brown Inc. | 0.39% | 386,030 | $24.8M | Reduce -4.6% |
| IBTP iShares Ibonds Dec 2034 ETF | 0.38% | 965,101 | $24.5M | Add +5.0% |
| EXPD Expeditors Intl Wash Inc. | 0.38% | 148,269 | $24.2M | Reduce -7.7% |
| IBTO iShares Ibonds Dec 2033 Tres | 0.37% | 988,431 | $23.9M | Reduce -8.6% |
| GD General Dynamics Corp. | 0.37% | 65,990 | $23.4M | Reduce -6.9% |
| ECL Ecolab Inc. | 0.36% | 83,581 | $23.3M | Reduce -6.6% |
| TTC Toro Co. | 0.36% | 233,646 | $22.8M | Reduce -6.9% |
| KEYS Keysight Technologies Inc. | 0.35% | 64,599 | $22.6M | Reduce -64.0% |
| DCI Donaldson Co. Inc. | 0.35% | 247,292 | $22.2M | Reduce -6.9% |
| STZ Constellation Brands Inc. Class A | 0.35% | 159,566 | $22.2M | Reduce -7.0% |
| IBTL iShares Ibonds Dec 2031 Term | 0.35% | 1,098,504 | $22.2M | Reduce -8.7% |
| NJR New Jersey Resources Corp. | 0.34% | 387,609 | $21.7M | Reduce -7.0% |
| SHW The Sherwin-Williams Co. | 0.33% | 62,256 | $21.4M | Reduce -6.3% |
| RLI Rli Corp. | 0.33% | 360,253 | $21.3M | Reduce -5.7% |
| APH Amphenol Corp. Class A | 0.33% | 118,987 | $21.0M | Reduce -35.9% |
| CRL Charles River Laboratories | 0.32% | 91,632 | $20.8M | Reduce -8.8% |
| ATR Aptargroup Inc. | 0.31% | 160,935 | $20.1M | New |
| SDY SS SPDR S&P Dividend ETF | 0.31% | 132,295 | $20.1M | Add +92.5% |
| EOG EOG Resources Inc. | 0.31% | 154,361 | $20.0M | Reduce -6.8% |
| AOS Smith (a.o.) Corp. | 0.31% | 312,013 | $19.6M | Reduce -2.2% |
| RMD Resmed Inc. | 0.29% | 94,086 | $18.3M | Reduce -5.8% |
| MCD McDonald's Corp. | 0.28% | 65,853 | $17.8M | Reduce -5.8% |
| TREX Trex Company Inc. filed as TREX INC | 0.28% | 354,325 | $17.7M | Reduce -9.3% |
| IEUR iShares Core MSCI Europe ETF | 0.27% | 229,242 | $17.2M | Add +5.5% |
| PG The Procter & Gamble Co. | 0.27% | 116,816 | $17.1M | Reduce -5.3% |
| IBTM iShares Ibnds Dec 2032 TT | 0.26% | 735,847 | $16.7M | Reduce -8.5% |
| DLTR Dollar Tree Inc. | 0.25% | 134,143 | $16.2M | Reduce -8.2% |
| SHLD Global X Defense Tech ETF | 0.25% | 262,921 | $15.7M | Add +113.3% |
| VVV Valvoline Inc. | 0.24% | 396,145 | $15.7M | Reduce -8.2% |
| MDT Medtronic PLC | 0.24% | 195,240 | $15.3M | Reduce -5.0% |
| BDX Becton Dickinson and Co. | 0.21% | 89,902 | $13.6M | Reduce -3.9% |
| AVDV Avantis Intl S/C Value ETF | 0.20% | 125,698 | $13.0M | Add +4.0% |
| XLE SS Energy Select Sector | 0.19% | 230,673 | $12.3M | New |
| NKE Nike Inc. Class B | 0.18% | 279,383 | $11.5M | Reduce -1.1% |
Portfolio Sells Q1 2026 → Q2 2026
| HON Honeywell International Inc. | Reduce -3.7% | 0.84% | −0.91 |
| ADI Analog Devices Inc. | Reduce -45.7% | 1.82% | −0.85 |
| DEO Diageo PLC-Sponsored ADR | Reduce -42.6% | 0.98% | −0.59 |
| CVX Chevron Corp. | Reduce -3.8% | 1.92% | −0.56 |
| LMT Lockheed Martin Corp. | Reduce -4.1% | 2.06% | −0.47 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.44 |
| KEYS Keysight Technologies Inc. | Reduce -64.0% | 0.35% | −0.43 |
| DOW Dow Inc. | Reduce -1.1% | 0.79% | −0.42 |
| HSY The Hershey Co. | Reduce -3.9% | 1.82% | −0.41 |
| CSCO Cisco Systems Inc. | Reduce -45.4% | 1.54% | −0.31 |
| HYBB iShares BB Rated Corp. Bond | Sold out | 0.00% | −0.25 |
| IEI iShares 3-7 Year Treasury Bo | Sold out | 0.00% | −0.23 |
| BR Broadridge Financial Solutio | Reduce -2.1% | 1.12% | −0.23 |
| GILD Gilead Sciences Inc. | Reduce -3.3% | 1.64% | −0.22 |
| BWIN Baldwin Insurance Group Inc./ | Reduce -87.8% | 0.03% | −0.19 |
| IGSB iShares 1-5Y Inv Grade Corp. | Sold out | 0.00% | −0.18 |
| SPMB SS SPDR P Mort Back Bond ETF | Reduce -12.5% | 1.17% | −0.16 |
| TJX TJX Companies Inc. | Reduce -8.9% | 0.96% | −0.14 |
| KMI Kinder Morgan Inc. | Reduce -3.4% | 1.68% | −0.13 |
| GOOG Alphabet Inc. Class C | Reduce -33.2% | 0.64% | −0.13 |
| GGG Graco Inc. | Reduce -6.3% | 0.65% | −0.12 |
| AWK American Water Works Co. Inc. | Reduce -3.7% | 1.60% | −0.11 |
| LOW Lowe's Cos Inc. | Reduce -8.2% | 0.66% | −0.11 |
| SO The Southern Co. | Reduce -3.6% | 2.05% | −0.08 |
| ETR Entergy Corp. | Reduce -5.9% | 2.08% | −0.07 |
| IBTJ iShares Ibonds Dec 2029 Term | Sold out | 0.00% | −0.06 |
| RMD Resmed Inc. | Reduce -5.8% | 0.29% | −0.06 |
| MORN Morningstar Inc. | Reduce -6.4% | 0.41% | −0.06 |
| MCD McDonald's Corp. | Reduce -5.8% | 0.28% | −0.06 |
| EOG EOG Resources Inc. | Reduce -6.8% | 0.31% | −0.06 |
| STZ Constellation Brands Inc. Class A | Reduce -7.0% | 0.35% | −0.05 |
| NKE Nike Inc. Class B | Reduce -1.1% | 0.18% | −0.05 |
| APD Air Products & Chemicals Inc. | Reduce -6.7% | 0.93% | −0.05 |
| WEC WEC Energy Group Inc. | Reduce -3.7% | 2.17% | −0.05 |
| MLM Martin Marietta Materials | Reduce -8.2% | 0.47% | −0.05 |
| VNT Vontier Corp. | Reduce -4.9% | 0.17% | −0.05 |
| MDLZ Mondelez International Inc. Class A | Reduce -3.2% | 1.85% | −0.04 |
| HYMB SS SPDR N Ice HY Muni ETF | Reduce -90.1% | 0.00% | −0.04 |
| MBB iShares MBS ETF | Reduce -8.8% | 0.45% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -6.8% | 1.10% | −0.04 |
| MDT Medtronic PLC | Reduce -5.0% | 0.24% | −0.04 |
| IBTO iShares Ibonds Dec 2033 Tres | Reduce -8.6% | 0.37% | −0.04 |
| ACGL Arch Capital Group Ltd. | Reduce -8.3% | 0.51% | −0.04 |
| APH Amphenol Corp. Class A | Reduce -35.9% | 0.33% | −0.04 |
| CNMD Conmed Corp. | Reduce -67.9% | 0.02% | −0.04 |
| IBTL iShares Ibonds Dec 2031 Term | Reduce -8.7% | 0.35% | −0.03 |
| PAYC Paycom Software Inc. | Reduce -8.2% | 0.74% | −0.03 |
| CPRT Copart Inc. | Reduce -6.7% | 0.13% | −0.03 |
| MLN Vaneck Long Muni ETF | Reduce -69.5% | 0.01% | −0.03 |
| SHM SS SPDR N Ice St Muni ETF | Reduce -68.3% | 0.01% | −0.03 |
Portfolio Buys Q1 2026 → Q2 2026
| SWK Stanley Black & Decker Inc. | New | 1.98% | +1.98 |
| SGOV iShares 0-3 Month Treasury B | Add +59.0% | 4.39% | +1.64 |
| CLX Clorox Company | Add +33.8% | 1.86% | +0.36 |
| ATR Aptargroup Inc. | New | 0.31% | +0.31 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +32.5% | 0.99% | +0.30 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +8.6% | 1.07% | +0.26 |
| ZTS Zoetis Inc. | Add +228.1% | 0.52% | +0.26 |
| TLH iShares 10-20 Year Treasury | Add +63.0% | 0.53% | +0.20 |
| XLE SS Energy Select Sector | New | 0.19% | +0.19 |
| GLDM SPDR Gold Minishares Trust | Add +57.0% | 0.65% | +0.17 |
| SDY SS SPDR S&P Dividend ETF | Add +92.5% | 0.31% | +0.16 |
| BKNG Booking Holdings Inc. | Add +26.8% | 0.54% | +0.14 |
| FND Floor & Decor Holdings Inc. Class A | New | 0.12% | +0.12 |
| RYAN Ryan Specialty Holdings Inc. | New | 0.11% | +0.11 |
| SHLD Global X Defense Tech ETF | Add +113.3% | 0.25% | +0.11 |
| VPL Vanguard Ftse Pacific ETF | New | 0.11% | +0.11 |
| STVN Stevanato Group SPA | New | 0.09% | +0.09 |
| IBTQ iShares Ibonds Dec 2035 TT | Add +29.3% | 0.41% | +0.09 |
| XONE Bondbloxx BBG 1 Dur US Treas | New | 0.05% | +0.05 |
| TMO Thermo Fisher Scientific Inc. | Add +2.9% | 0.73% | +0.04 |
| IIIV I3 Verticals Inc. Class A | Add +91.6% | 0.08% | +0.04 |
| IEUR iShares Core MSCI Europe ETF | Add +5.5% | 0.27% | +0.03 |
| XLI SS Industrial Select Sector | New | 0.03% | +0.03 |
| RVNU Xtrac Mun Inf Rev BD Act ETF | New | 0.03% | +0.03 |
| TRMLF Tourmaline Oil Corp. | New | 0.02% | +0.02 |
| CF CF Industries Holdings Inc. | New | 0.02% | +0.02 |
| BP BP PLC-Spons ADR | New | 0.02% | +0.02 |
| OXY Occidental Petroleum Corp. | New | 0.02% | +0.02 |
| CRH CRH PLC | New | 0.02% | +0.02 |
| DVN Devon Energy Corp. | New | 0.02% | +0.02 |
| IBTP iShares Ibonds Dec 2034 ETF | Add +5.0% | 0.38% | +0.02 |
| AVDV Avantis Intl S/C Value ETF | Add +4.0% | 0.20% | +0.01 |
| SPGI S&P Global Inc. | Add +5.5% | 0.90% | +0.01 |
| NHPEF New Hope Corp. Ltd. | New | 0.01% | +0.01 |
| BMI Badger Meter Inc. | New | 0.01% | +0.01 |
| PICK iShares MSCI Global Metals & | Add +5.7% | 0.14% | +0.01 |
| GAIN Gladstone Investment Corp. | New | 0.01% | +0.01 |
| NBIS Nebius Group NV | Add +2.0% | 0.01% | +0.01 |
| TTNDY Techtronic Industries-SP ADR | Add +2.7% | 0.03% | +0.01 |
| OBDC Blue Owl Capital Corp. | Add +17.4% | 0.04% | +0.01 |
| HTGC Hercules Capital Inc. | Add +1.0% | 0.07% | +0.01 |
| CCJ Cameco Corp. | Add +42.5% | 0.02% | +0.01 |
| OTF Blue Owl Technology Finance | New | 0.01% | +0.01 |
| ESAB Esab Corp. | Add +24.5% | 0.02% | +0.00 |
| ERO Ero Copper Corp. | New | 0.00% | +0.00 |
| UFPI Ufp Industries Inc. | Add +26.0% | 0.02% | +0.00 |
| NU Nu Holdings Ltd./Cayman Isl-A | New | 0.00% | +0.00 |
| NGLOY Anglo American PLC-Spons ADR | Add +4.2% | 0.03% | +0.00 |
| FQVLF First Quantum Minerals Ltd. | Add +4.2% | 0.02% | +0.00 |
| IFNNY Infineon Technologies-ADR | Add +1.6% | 0.01% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 290 | $6.4B | SGOV, SNA, CB, LIN, WEC |
| Q1 2026 | 283 | $6.4B | SGOV, ADI, LMT, CVX, SNA |
| Q4 2025 | 296 | $6.7B | SGOV, SNA, CB, ADI, NTRS |
| Q3 2025 | 294 | $7.0B | SGOV, SNA, WEC, FAST, NTRS |
| Q2 2025 | 287 | $7.1B | SGOV, CB, SNA, PAYX, NTRS |
| Q1 2025 | 294 | $6.9B | SGOV, SNA, CB, PAYX, PGR |
| Q4 2024 | 299 | $7.2B | PGR, SNA, CB, PAYX, LMT |
| Q3 2024 | 298 | $7.5B | PGR, LMT, DEO, CB, LIN |
| Q2 2024 | 299 | $6.9B | PGR, CB, ADI, PEP, LIN |
| Q1 2024 | 296 | $7.4B | FAST, PGR, MSFT, SNA, LIN |