BECKER CAPITAL MANAGEMENT INC

Portland, OR · CIK 799004 · 13F filing filed 2023-11-14

SEC-registered investment adviser since 1977 · corporation

Assets managed$5.7bn
Staff42 · 20 in investment roles
Main clients (by assets)High net worth individuals 62%, Charities 26%, Companies 3%
Private funds1 · $13.3m gross assets
Form ADV · 2026-03-31SEC adviser record

Legal entityBECKER CAPITAL MANAGEMENT, INC. (US)

$2.5bn reported value -4.6% vs Q2 2023

261positions

25.4%in top 10

4 new 75 added 126 reduced 15 sold out vs Q2 2023

Also in the report of:

Dorsey & Whitney Trust CO LLC – $5.8m of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q3 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	395,337	$124.8m4.95%	4.95%	Reduced -2.3k	-2,280 -0.6%
2	APPLE INC COM AAPL	AAPL	727,786	$124.6m4.94%	4.94%	Reduced -5.1k	-5,051 -0.7%
3	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	276,300	$58.7m2.33%	2.33%	Added +12.6k	+12,550 4.8%
4	JPMORGAN CHASE & CO COM JPM	JPM	403,057	$58.5m2.32%	2.32%	Added +1.8k	+1,791 0.5%
5	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	191,894	$52.3m2.07%	2.07%	Added +1.7k	+1,730 0.9%
6	MCKESSON CORP COM MCK	MCK	103,739	$45.2m1.79%	1.79%	Reduced -3.0k	-3,042 -2.9%
7	WALMART INC COM WMT	WMT	282,431	$45.2m1.79%	1.79%	Reduced -1.5k	-1,486 -0.5%
8	ISHARES TR CORE S&P SCP ETF IJR	IJR	470,548	$44.6m1.77%	1.77%	Added +12.0k	+11,985 2.6%
9	CISCO SYS INC COM CSCO	CSCO	813,174	$43.7m1.73%	1.73%	Reduced -16.9k	-16,856 -2.0%
10	EMBRAER S.A. SPONSORED ADS EMBJ	EMBJ	3,157,080	$43.3m1.72%	1.72%	Reduced -26.3k	-26,341 -0.8%
11	SCHWAB CHARLES CORP COM SCHW	SCHW	787,800	$43.3m1.72%	1.72%	Reduced -4.1k	-4,102 -0.5%
12	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	100,742	$43.2m1.71%	1.71%	Added +1.4k	+1,356 1.4%
13	ALPHABET INC CAP STK CL A GOOGL	GOOGL	318,394	$41.7m1.65%	1.65%	Reduced -3.3k	-3,321 -1.0%
14	JOHNSON & JOHNSON COM JNJ	JNJ	253,156	$39.4m1.56%	1.56%	Reduced -2.9k	-2,908 -1.1%
15	CHEVRON CORP NEW COM CVX	CVX	232,478	$39.2m1.56%	1.56%	Reduced -1.4k	-1,433 -0.6%
16	ISHARES INC CORE MSCI EMKT IEMG	IEMG	801,217	$38.1m1.51%	1.51%	Added +7.4k	+7,419 0.9%
17	MERCK & CO INC COM MRK	MRK	344,585	$35.7m1.42%	1.42%	Reduced -3.6k	-3,562 -1.0%
18	BLACKROCK INC COM BLK	BLK	54,828	$35.4m1.41%	1.41%	Reduced -1.2k	-1,169 -2.1%
19	GOLDMAN SACHS GROUP INC COM GS	GS	107,543	$34.8m1.38%	1.38%	Reduced -2.2k	-2,226 -2.0%
20	QUALCOMM INC COM QCOM	QCOM	298,936	$33.2m1.32%	1.32%	Added +14.2k	+14,171 5.0%
21	HOME DEPOT INC COM HD	HD	107,624	$32.5m1.29%	1.29%	Added +72	+72 0.1%
22	PROCTER AND GAMBLE CO COM PG	PG	220,151	$32.1m1.27%	1.27%	Reduced -821	-821 -0.4%
23	AMAZON COM INC COM AMZN	AMZN	245,856	$31.3m1.24%	1.24%	Reduced -1.4k	-1,352 -0.6%
24	SYSCO CORP COM SYY	SYY	470,888	$31.1m1.23%	1.23%	Added +458.4k	+458,401 3671.0%
25	SALESFORCE INC COM CRM	CRM	152,434	$30.9m1.23%	1.23%	Reduced -2.3k	-2,346 -1.5%
26	PFIZER INC COM PFE	PFE	916,779	$30.4m1.21%	1.21%	Reduced -41.0k	-40,976 -4.3%
27	MEDTRONIC PLC SHS MDT	MDT	380,024	$30.0m1.19%	1.19%	Reduced -7.9k	-7,864 -2.0%
28	SANOFI SPONSORED ADR SNY	SNY	539,493	$28.9m1.15%	1.15%	Reduced -5.3k	-5,263 -1.0%
29	VERIZON COMMUNICATIONS INC COM VZ	VZ	890,823	$28.9m1.15%	1.15%	Added +53.5k	+53,536 6.4%
30	KONINKLIJKE PHILIPS N V NY REGIS SHS NEW PHG	PHG	1,425,923	$28.4m1.13%	1.13%	Added +67.3k	+67,315 5.0%
31	SAP SE SPON ADR SAP	SAP	218,731	$28.3m1.12%	1.12%	Reduced -2.1k	-2,110 -1.0%
32	AMGEN INC COM AMGN	AMGN	104,139	$28.0m1.11%	1.11%	Reduced -2.2k	-2,224 -2.1%
33	RTX CORPORATION COM RTX	RTX	380,641	$27.4m1.09%	1.09%	Added +104.0k	+104,017 37.6%
34	BAKER HUGHES COMPANY CL A BKR	BKR	753,081	$26.6m1.06%	1.06%	Reduced -9.8k	-9,841 -1.3%
35	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		388,379	$26.3m1.04%	1.04%	Reduced -6.9k	-6,921 -1.8%
36	FIRSTENERGY CORP COM FE	FE	759,598	$26.0m1.03%	1.03%	Reduced -2.5k	-2,502 -0.3%
37	ALLSTATE CORP COM ALL	ALL	225,301	$25.3m1.00%	1.00%	Reduced -206	-206 -0.1%
38	METHANEX CORP COM MEOH	MEOH	542,370	$24.5m0.97%	0.97%	Added +2.9k	+2,868 0.5%
39	CARRIER GLOBAL CORPORATION COM CARR	CARR	437,752	$24.2m0.96%	0.96%	Reduced -4.4k	-4,402 -1.0%
40	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	66,937	$23.4m0.93%	0.93%	Reduced -1.1k	-1,094 -1.6%
41	AIR PRODS & CHEMS INC COM APD	APD	77,383	$22.1m0.88%	0.88%	Reduced -421	-421 -0.5%
42	PAYPAL HLDGS INC COM PYPL	PYPL	376,468	$22.0m0.87%	0.87%	Reduced -21.8k	-21,799 -5.5%
43	CIENA CORP COM NEW CIEN	CIEN	463,532	$21.9m0.87%	0.87%	Reduced -7.6k	-7,575 -1.6%
44	NEWMONT CORP COM NEM	NEM	592,708	$21.9m0.87%	0.87%	Reduced -23.6k	-23,641 -3.8%
45	AUTOZONE INC COM AZO	AZO	8,435	$21.4m0.85%	0.85%	Reduced -41	-41 -0.5%
46	ISHARES TR MSCI EAFE ETF EFA	EFA	304,149	$21.0m0.83%	0.83%	Added +5.0k	+4,978 1.7%
47	US BANCORP DEL COM NEW USB	USB	616,957	$20.7m0.82%	0.82%	Reduced -25.8k	-25,839 -4.0%
48	GENERAL DYNAMICS CORP COM GD	GD	92,933	$20.5m0.81%	0.81%	Reduced -6.2k	-6,182 -6.2%
49	KINDER MORGAN INC DEL COM KMI	KMI	1,220,680	$20.2m0.80%	0.80%	Added +8.6k	+8,633 0.7%
50	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	65,069	$20.0m0.79%	0.79%	Reduced -249	-249 -0.4%
51	FLEX LTD ORD FLEX	FLEX	719,500	$19.4m0.77%	0.77%	Reduced -8.3k	-8,306 -1.1%
52	DISNEY WALT CO COM DIS	DIS	233,525	$18.9m0.75%	0.75%	Reduced -20.4k	-20,394 -8.0%
53	UNILEVER PLC SPON ADR NEW SPON ADR NEW		372,771	$18.4m0.73%	0.73%	Added +2.3k	+2,260 0.6%
54	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	146,338	$18.1m0.72%	0.72%	Reduced -3.9k	-3,859 -2.6%
55	ALASKA AIR GROUP INC COM ALK	ALK	468,185	$17.4m0.69%	0.69%	Added +29.7k	+29,747 6.8%
56	BLACKBAUD INC COM BLKB	BLKB	246,625	$17.3m0.69%	0.69%	Reduced -70.5k	-70,475 -22.2%
57	ISHARES TR CORE MSCI EAFE IEFA	IEFA	267,093	$17.2m0.68%	0.68%	Reduced -2.8k	-2,805 -1.0%
58	CHUBB LIMITED COM CB	CB	82,217	$17.2m0.68%	0.68%	Reduced -443	-443 -0.5%
59	COLUMBIA SPORTSWEAR CO COM COLM	COLM	216,977	$16.1m0.64%	0.64%	Added +40.2k	+40,211 22.8%
60	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	1,459,799	$15.9m0.63%	0.63%	Added +65.3k	+65,337 4.7%
61	QUEST DIAGNOSTICS INC COM DGX	DGX	126,352	$15.4m0.61%	0.61%	Added +16	+16 0.0%
62	SHELL PLC SPON ADS SHEL	SHEL	236,261	$15.2m0.60%	0.60%	Added +505	+505 0.2%
63	CVS HEALTH CORP COM CVS	CVS	211,493	$14.8m0.59%	0.59%	Reduced -11.3k	-11,336 -5.1%
64	VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF VGK	VGK	252,983	$14.7m0.58%	0.58%	Reduced -8.9k	-8,922 -3.4%
65	VISA INC COM CL A V	V	63,047	$14.5m0.58%	0.58%	Reduced -360	-360 -0.6%
66	COSTCO WHSL CORP NEW COM COST	COST	25,491	$14.4m0.57%	0.57%	Reduced -346	-346 -1.3%
67	KROGER CO COM KR	KR	307,143	$13.7m0.55%	0.55%	Reduced -6.7k	-6,736 -2.1%
68	MOLINA HEALTHCARE INC COM MOH	MOH	41,598	$13.6m0.54%	0.54%	Added +4.1k	+4,143 11.1%
69	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	176,776	$13.5m0.54%	0.54%	Added +4.0k	+3,975 2.3%
70	STARBUCKS CORP COM SBUX	SBUX	145,722	$13.3m0.53%	0.53%	Reduced -4.2k	-4,164 -2.8%
71	BECTON DICKINSON & CO COM BDX	BDX	51,144	$13.2m0.52%	0.52%	Reduced -327	-327 -0.6%
72	EATON CORP PLC SHS ETN	ETN	58,618	$12.5m0.50%	0.50%	Reduced -5.3k	-5,289 -8.3%
73	INTERNATIONAL PAPER CO COM IP	IP	345,614	$12.3m0.49%	0.49%	Reduced -45.5k	-45,478 -11.6%
74	EMERSON ELEC CO COM EMR	EMR	126,327	$12.2m0.48%	0.48%	Added +8.5k	+8,541 7.2%
75	LAMB WESTON HLDGS INC COM LW	LW	125,691	$11.6m0.46%	0.46%	Reduced -85.1k	-85,125 -40.4%
76	REALTY INCOME CORP COM O	O	230,571	$11.6m0.46%	0.46%	Added +31.9k	+31,886 16.1%
77	VENTAS INC COM VTR	VTR	271,809	$11.6m0.46%	0.46%	Reduced -6.3k	-6,347 -2.3%
78	BANK AMERICA CORP COM BAC	BAC	419,617	$11.5m0.46%	0.46%	Reduced -19.5k	-19,510 -4.4%
79	BLACKSTONE INC COM BX	BX	104,328	$11.2m0.44%	0.44%	Reduced -3.2k	-3,209 -3.0%
80	SOUTHERN CO COM SO	SO	162,263	$10.5m0.42%	0.42%	Added +984	+984 0.6%
81	EXXON MOBIL CORP COM XOM	XOM	84,302	$9.9m0.39%	0.39%	Added +887	+887 1.1%
82	WEYERHAEUSER CO MTN BE COM NEW WY	WY	285,881	$8.8m0.35%	0.35%	Reduced -1.5k	-1,473 -0.5%
83	MAGNA INTL INC COM MGA	MGA	158,520	$8.5m0.34%	0.34%	Reduced -24.6k	-24,555 -13.4%
84	ECOLAB INC COM ECL	ECL	44,877	$7.6m0.30%	0.30%	Reduced -395	-395 -0.9%
85	ISHARES TR CORE S&P500 ETF IVV	IVV	16,872	$7.3m0.29%	0.29%	Added +818	+818 5.1%
86	ISHARES TR 1 3 YR TREAS BD SHY	SHY	88,860	$7.2m0.29%	0.29%	Added +22.2k	+22,214 33.3%
87	ISHARES TR ESG SELECT SCRE XVV	XVV	187,724	$6.1m0.24%	0.24%	Added +67.1k	+67,095 55.6%
88	ISHARES TR RUSSELL 2000 ETF IWM	IWM	33,070	$5.9m0.23%	0.23%	Reduced -58	-58 -0.2%
89	3M CO COM MMM	MMM	56,700	$5.3m0.21%	0.21%	Reduced -8.2k	-8,224 -12.7%
90	ALPHABET INC CAP STK CL C GOOG	GOOG	39,385	$5.2m0.21%	0.21%	Added +697	+697 1.8%
91	MORGAN STANLEY COM NEW MS	MS	62,938	$5.1m0.20%	0.20%	Added +395	+395 0.6%
92	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	116,476	$5.1m0.20%	0.20%	Added +7.9k	+7,935 7.3%
93	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	13,908	$5.0m0.20%	0.20%	Added +9.8k	+9,784 237.2%
94	ISHARES TR S&P MC 400VL ETF IJJ	IJJ	48,804	$5.0m0.20%	0.20%	Unchanged
95	UNION PAC CORP COM UNP	UNP	24,327	$5.0m0.20%	0.20%	Reduced -172	-172 -0.7%
96	ISHARES TR ISHS 5-10YR INVT IGIB	IGIB	100,103	$4.9m0.19%	0.19%	Added +1.7k	+1,692 1.7%
97	BROOKFIELD RENEWABLE CORP CL A SUB VTG CL A SUB VTG		185,986	$4.5m0.18%	0.18%	Added +43.9k	+43,862 30.9%
98	UNITEDHEALTH GROUP INC COM UNH	UNH	8,542	$4.3m0.17%	0.17%	Reduced -1.6k	-1,641 -16.1%
99	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	8,315	$4.2m0.17%	0.17%	Reduced -765	-765 -8.4%
100	IMAX CORP COM IMAX	IMAX	217,870	$4.2m0.17%	0.17%	Reduced -13.4k	-13,361 -5.8%

Sold out since Q2 2023

Security	Ticker	Shares held before	Value then
EDWARDS LIFESCIENCES CORP EW	EW	25,764	$2.4m25.8k shares
KELLANOVA K	K	14,239	$959.7k14.2k shares
ASML HOLDING N V ASML	ASML	1,310	$949.4k1.3k shares
CHENIERE ENERGY INC LNG	LNG	4,100	$624.7k4.1k shares
ARCHER DANIELS MIDLAND CO ADM	ADM	4,351	$328.8k4.4k shares
FLEXSHARES TR NFRA	NFRA	6,022	$315.3k6.0k shares
AMERICAN TOWER CORP NEW AMT	AMT	1,527	$298.5k1.5k shares
U S XPRESS ENTERPRISES INC USX	USX	47,199	$289.8k47.2k shares
THE CIGNA GROUP CI	CI	1,005	$282.0k1.0k shares
UNITED PARCEL SERVICE INC UPS	UPS	1,380	$247.4k1.4k shares
KEYSIGHT TECHNOLOGIES INC KEYS	KEYS	1,365	$228.6k1.4k shares
NETFLIX INC NFLX	NFLX	500	$220.2k500 shares
AMERICAN ELEC PWR CO INC AEP	AEP	2,584	$217.6k2.6k shares
BAXTER INTL INC BAX	BAX	4,526	$207.5k4.5k shares
ILLINOIS TOOL WKS INC ITW	ITW	814	$204.6k814 shares