Confluence Investment Management LLC
Confluence Investment Management LLC is an employee-owned, SEC-registered investment adviser based in Saint Louis, Missouri. Formed in December 2007 by former A.G. Edwards & Sons professionals, it registered with the SEC in January 2008. As of March 2025, the firm manages approximately $7.3 billion in assets and employs 55 people. Confluence serves a diverse client base including individuals (high net worth and others), financial institutions, corporations, pension plans, charitable organizations, foundations, endowments, and registered investment companies.
Investment Strategy
Confluence provides portfolio management services across equity, asset allocation, balanced, alternative, and sector strategies. The firm emphasizes fundamental analysis and disciplined security selection, focusing on companies with capable management and strong capital allocation. Their buy discipline seeks reasonable valuations relative to future growth, using metrics such as Enterprise Value/EBITDA and Price/Free Cash Flow. Risk is managed by avoiding excessive valuations while aiming to maximize total return over the investment cycle. Positions are continuously reviewed, with a disciplined sell process triggered by full valuations or deteriorating fundamentals.
Latest 13F Filing Activity
Confluence Investment Management LLC filed their most recent 13F report on Sep 30, 2025 disclosing 284 equity positions with a total 13F market value of $7B. The fund increased holdings in Mondelez International Inc., Accenture PLC, Ishares 0-3 Month Treasury Bon among other positions. Confluence Investment Management LLC reduced exposure to Oracle Corp., Pepsico Inc., Polaris Inc. among others.
Top Holdings
Equity Positions (284)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SGOV | iShares 0-3 Month Treasury Bon | 3.74% | $261.8M | 2,599,958 | $100.47 | $100.70 | +$23.2M |
S SNA | Snap-on Inc. | 2.43% | $170.6M | 492,183 | $120.43 | $346.53 | +$14.5M |
W WEC | WEC Energy Group Inc. | 2.27% | $159.4M | 1,390,656 | $83.35 | $114.59 | +$11.5M |
F FAST | Fastenal Co. | 2.25% | $157.7M | 3,214,964 | $31.90 | $49.04 | +$19.9M |
N NTRS | Northern Trust Corp. | 2.22% | $155.8M | 1,157,462 | $77.02 | $134.60 | +$5.6M |
Industry Allocation
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