CONFLUENCE INVESTMENT MANAGEMENT LLC
SEC Form 13F institutional filer · CIK 0001442056
13F-HR · 91 reported holdings · 2026-03-31
Asset management firm.
Reported long-US-equity value
$5.10B
Top-10 concentration
29.7%
CONFLUENCE INVESTMENT MANAGEMENT LLC — $5.1B AUM allocation strategy
CONFLUENCE INVESTMENT MANAGEMENT LLC files SEC Form 13F and reports $5.1B of long US equity value across 91 reported holdings for 2026-03-31.
Its largest sector bet is Industrials 11.2%, followed by Utilities 10.4% and Financials 7.9%.
The top 10 holdings account for 30% of reported value — a broadly spread portfolio. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
CONFLUENCE INVESTMENT MANAGEMENT LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$5.1B
total across 91 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
30% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$MDLZ +371K sh · +$28M+$CARR +300K sh · +$17.6M+$DOW +281K sh · +$40.7M
Biggest trims (shares)
−$IWM −572K sh · −$120M−$NTRS −423K sh · −$55.7M−$FIS −205K sh · −$24.4M
Exited to nil (held last quarter, gone now)
$MKC ($19.2M last qtr)$GS ($704K last qtr)$WTW ($299K last qtr)$NVDA ($212K last qtr)$V ($201K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Electric Utilities8.2%—
- Property & Casualty Insurance5.4%—
- Packaged Foods & Meats5.2%—
- Semiconductors3.4%—
- Aerospace & Defense3.2%—
- Integrated Oil & Gas3.1%—
- Industrial Machinery & Supplies & Components3.1%—
- Industrial Gases2.8%—
- Other holdings65.7%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $ADI | Analog Devices Inc | 541K | $172M | -45.2K | 3.4% |
| $LMT | Lockheed Martin Corporation | 270K | $163M | -15.6K | 3.2% |
| $CVX | Chevron Corporation | 772K | $160M | -29.2K | 3.1% |
| $SNA | Snap-On Incorporated | 436K | $158M | -33.4K | 3.1% |
| $CB | Chubb Limited | 482K | $157M | -29K | 3.1% |
| $HSY | The Hershey Company | 690K | $144M | -7.57K | 2.8% |
| $WEC | WEC Energy Group Inc | 1.24M | $143M | -90.4K | 2.8% |
| $LIN | Linde plc | 283K | $140M | -14.3K | 2.7% |
| $SO | Southern Company | 1.43M | $139M | -63.8K | 2.7% |
| $ETR | Entergy Corporation | 1.23M | $138M | -58.4K | 2.7% |
…and 81 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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