BECKER CAPITAL MANAGEMENT INC

Portland, OR · CIK 799004 · 13F filing filed 2024-02-14

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)

$2.8bn reported value +10.0% vs Q3 2023

263positions

26.9%in top 10

9 new 69 added 127 reduced 7 sold out vs Q3 2023

Also in the report of:

Dorsey & Whitney Trust CO LLC – $6.5m of shares are in both reports

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

Holdings, Q4 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	388,909	$146.2m5.27%	5.27%	Reduced -6.4k	-6,428 -1.6%
2	APPLE INC COM AAPL	AAPL	703,362	$135.4m4.88%	4.88%	Reduced -24.4k	-24,424 -3.4%
3	JPMORGAN CHASE & CO COM JPM	JPM	400,971	$68.2m2.46%	2.46%	Reduced -2.1k	-2,086 -0.5%
4	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	218,443	$67.9m2.45%	2.45%	Added +26.5k	+26,549 13.8%
5	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	272,476	$64.6m2.33%	2.33%	Reduced -3.8k	-3,824 -1.4%
6	EMBRAER S.A. SPONSORED ADS EMBJ	EMBJ	3,068,023	$56.6m2.04%	2.04%	Reduced -89.1k	-89,057 -2.8%
7	ISHARES TR CORE S&P SCP ETF IJR	IJR	521,524	$56.5m2.04%	2.04%	Added +51.0k	+50,976 10.8%
8	SCHWAB CHARLES CORP COM SCHW	SCHW	794,421	$54.7m1.97%	1.97%	Added +6.6k	+6,621 0.8%
9	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	102,117	$48.7m1.76%	1.76%	Added +1.4k	+1,375 1.4%
10	MCKESSON CORP COM MCK	MCK	102,134	$47.3m1.71%	1.71%	Reduced -1.6k	-1,605 -1.6%
11	WALMART INC COM WMT	WMT	280,870	$44.4m1.60%	1.60%	Reduced -1.6k	-1,561 -0.6%
12	BLACKROCK INC COM BLK	BLK	54,370	$44.1m1.59%	1.59%	Reduced -458	-458 -0.8%
13	ALPHABET INC CAP STK CL A GOOGL	GOOGL	315,563	$44.1m1.59%	1.59%	Reduced -2.8k	-2,831 -0.9%
14	QUALCOMM INC COM QCOM	QCOM	296,934	$42.9m1.55%	1.55%	Reduced -2.0k	-2,002 -0.7%
15	ISHARES INC CORE MSCI EMKT IEMG	IEMG	843,465	$42.7m1.54%	1.54%	Added +42.2k	+42,248 5.3%
16	GOLDMAN SACHS GROUP INC COM GS	GS	106,372	$41.0m1.48%	1.48%	Reduced -1.2k	-1,171 -1.1%
17	CISCO SYS INC COM CSCO	CSCO	809,884	$40.9m1.48%	1.48%	Reduced -3.3k	-3,290 -0.4%
18	SALESFORCE INC COM CRM	CRM	150,219	$39.5m1.43%	1.43%	Reduced -2.2k	-2,215 -1.4%
19	JOHNSON & JOHNSON COM JNJ	JNJ	251,964	$39.5m1.42%	1.42%	Reduced -1.2k	-1,192 -0.5%
20	AMAZON COM INC COM AMZN	AMZN	255,227	$38.8m1.40%	1.40%	Added +9.4k	+9,371 3.8%
21	HOME DEPOT INC COM HD	HD	106,842	$37.0m1.34%	1.34%	Reduced -782	-782 -0.7%
22	MERCK & CO INC COM MRK	MRK	336,553	$37.0m1.33%	1.33%	Reduced -8.0k	-8,032 -2.3%
23	SYSCO CORP COM SYY	SYY	500,272	$36.6m1.32%	1.32%	Added +29.4k	+29,384 6.2%
24	CHEVRON CORP NEW COM CVX	CVX	236,700	$35.3m1.27%	1.27%	Added +4.2k	+4,222 1.8%
25	RTX CORPORATION COM RTX	RTX	403,364	$33.9m1.22%	1.22%	Added +22.7k	+22,723 6.0%
26	KONINKLIJKE PHILIPS N V NY REGIS SHS NEW PHG	PHG	1,434,896	$33.5m1.21%	1.21%	Added +9.0k	+8,973 0.6%
27	VERIZON COMMUNICATIONS INC COM VZ	VZ	855,635	$32.3m1.16%	1.16%	Reduced -35.2k	-35,188 -4.0%
28	SAP SE SPON ADR SAP	SAP	207,327	$32.1m1.16%	1.16%	Reduced -11.4k	-11,404 -5.2%
29	ALLSTATE CORP COM ALL	ALL	224,178	$31.6m1.14%	1.14%	Reduced -1.1k	-1,123 -0.5%
30	MEDTRONIC PLC SHS MDT	MDT	375,727	$31.2m1.13%	1.13%	Reduced -4.3k	-4,297 -1.1%
31	PROCTER AND GAMBLE CO COM PG	PG	212,705	$31.2m1.12%	1.12%	Reduced -7.4k	-7,446 -3.4%
32	SANOFI SPONSORED ADR SNY	SNY	576,380	$28.7m1.03%	1.03%	Added +36.9k	+36,887 6.8%
33	AMGEN INC COM AMGN	AMGN	98,850	$28.5m1.03%	1.03%	Reduced -5.3k	-5,289 -5.1%
34	PFIZER INC COM PFE	PFE	981,468	$28.3m1.02%	1.02%	Added +64.7k	+64,689 7.1%
35	FIRSTENERGY CORP COM FE	FE	760,801	$27.9m1.01%	1.01%	Added +1.2k	+1,203 0.2%
36	ISHARES TR MSCI EAFE ETF EFA	EFA	362,852	$27.3m0.99%	0.99%	Added +58.7k	+58,703 19.3%
37	METHANEX CORP COM MEOH	MEOH	549,304	$26.0m0.94%	0.94%	Added +6.9k	+6,934 1.3%
38	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		381,762	$25.7m0.93%	0.93%	Reduced -6.6k	-6,617 -1.7%
39	US BANCORP DEL COM NEW USB	USB	582,670	$25.5m0.92%	0.92%	Reduced -34.3k	-34,287 -5.6%
40	NEWMONT CORP COM NEM	NEM	603,078	$25.0m0.90%	0.90%	Added +10.4k	+10,370 1.8%
41	AIR PRODS & CHEMS INC COM APD	APD	90,049	$24.8m0.89%	0.89%	Added +12.7k	+12,666 16.4%
42	CARRIER GLOBAL CORPORATION COM CARR	CARR	426,632	$24.6m0.89%	0.89%	Reduced -11.1k	-11,120 -2.5%
43	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	67,274	$24.0m0.87%	0.87%	Added +337	+337 0.5%
44	GENERAL DYNAMICS CORP COM GD	GD	90,202	$23.4m0.84%	0.84%	Reduced -2.7k	-2,731 -2.9%
45	BAKER HUGHES COMPANY CL A BKR	BKR	670,635	$22.9m0.83%	0.83%	Reduced -82.4k	-82,446 -10.9%
46	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	64,963	$22.8m0.82%	0.82%	Reduced -106	-106 -0.2%
47	AUTOZONE INC COM AZO	AZO	8,653	$22.4m0.81%	0.81%	Added +218	+218 2.6%
48	DISNEY WALT CO COM DIS	DIS	243,567	$22.1m0.80%	0.80%	Added +10.0k	+10,042 4.3%
49	KINDER MORGAN INC DEL COM KMI	KMI	1,227,333	$21.7m0.78%	0.78%	Added +6.7k	+6,653 0.6%
50	FLEX LTD ORD FLEX	FLEX	706,017	$21.5m0.78%	0.78%	Reduced -13.5k	-13,483 -1.9%
51	CIENA CORP COM NEW CIEN	CIEN	469,318	$21.1m0.76%	0.76%	Added +5.8k	+5,786 1.2%
52	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	142,179	$20.0m0.72%	0.72%	Reduced -4.2k	-4,159 -2.8%
53	ISHARES TR CORE MSCI EAFE IEFA	IEFA	273,765	$19.3m0.69%	0.69%	Added +6.7k	+6,672 2.5%
54	CHUBB LIMITED COM CB	CB	83,120	$18.9m0.68%	0.68%	Added +903	+903 1.1%
55	DIAGEO PLC SPON ADR NEW DEO	DEO	128,373	$18.7m0.67%	0.67%	Added +125.8k	+125,823 4934.2%
56	PAYPAL HLDGS INC COM PYPL	PYPL	296,275	$18.2m0.66%	0.66%	Reduced -80.2k	-80,193 -21.3%
57	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	201,999	$17.8m0.64%	0.64%	Added +25.2k	+25,223 14.3%
58	QUEST DIAGNOSTICS INC COM DGX	DGX	125,104	$17.2m0.62%	0.62%	Reduced -1.2k	-1,248 -1.0%
59	COLUMBIA SPORTSWEAR CO COM COLM	COLM	215,161	$17.1m0.62%	0.62%	Reduced -1.8k	-1,816 -0.8%
60	COSTCO WHSL CORP NEW COM COST	COST	25,199	$17.0m0.61%	0.61%	Reduced -292	-292 -1.1%
61	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	1,466,807	$16.7m0.60%	0.60%	Added +7.0k	+7,008 0.5%
62	VISA INC COM CL A V	V	63,311	$16.5m0.59%	0.59%	Added +264	+264 0.4%
63	CVS HEALTH CORP COM CVS	CVS	205,176	$16.2m0.58%	0.58%	Reduced -6.3k	-6,317 -3.0%
64	BLACKBAUD INC COM BLKB	BLKB	184,505	$16.0m0.58%	0.58%	Reduced -62.1k	-62,120 -25.2%
65	VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF VGK	VGK	243,849	$15.7m0.57%	0.57%	Reduced -9.1k	-9,134 -3.6%
66	MOLINA HEALTHCARE INC COM MOH	MOH	41,931	$15.2m0.55%	0.55%	Added +333	+333 0.8%
67	SHELL PLC SPON ADS SHEL	SHEL	222,705	$14.7m0.53%	0.53%	Reduced -13.6k	-13,556 -5.7%
68	EATON CORP PLC SHS ETN	ETN	59,860	$14.4m0.52%	0.52%	Added +1.2k	+1,242 2.1%
69	STARBUCKS CORP COM SBUX	SBUX	144,481	$13.9m0.50%	0.50%	Reduced -1.2k	-1,241 -0.8%
70	BANK AMERICA CORP COM BAC	BAC	403,001	$13.6m0.49%	0.49%	Reduced -16.6k	-16,616 -4.0%
71	REALTY INCOME CORP COM O	O	232,788	$13.4m0.48%	0.48%	Added +2.2k	+2,217 1.0%
72	BLACKSTONE INC COM BX	BX	101,518	$13.3m0.48%	0.48%	Reduced -2.8k	-2,810 -2.7%
73	VENTAS INC COM VTR	VTR	263,388	$13.2m0.48%	0.48%	Reduced -8.4k	-8,421 -3.1%
74	KROGER CO COM KR	KR	289,538	$13.2m0.48%	0.48%	Reduced -17.6k	-17,605 -5.7%
75	LAMB WESTON HLDGS INC COM LW	LW	120,220	$13.0m0.47%	0.47%	Reduced -5.5k	-5,471 -4.3%
76	SOUTHERN CO COM SO	SO	185,060	$13.0m0.47%	0.47%	Added +22.8k	+22,797 14.1%
77	BECTON DICKINSON & CO COM BDX	BDX	50,949	$12.4m0.45%	0.45%	Reduced -195	-195 -0.4%
78	EMERSON ELEC CO COM EMR	EMR	112,763	$11.0m0.40%	0.40%	Reduced -13.6k	-13,564 -10.7%
79	ISHARES TR CORE S&P500 ETF IVV	IVV	21,550	$10.3m0.37%	0.37%	Added +4.7k	+4,678 27.7%
80	WEYERHAEUSER CO MTN BE COM NEW WY	WY	285,323	$9.9m0.36%	0.36%	Reduced -558	-558 -0.2%
81	ECOLAB INC COM ECL	ECL	45,778	$9.1m0.33%	0.33%	Added +901	+901 2.0%
82	INTERNATIONAL PAPER CO COM IP	IP	248,224	$9.0m0.32%	0.32%	Reduced -97.4k	-97,390 -28.2%
83	EXXON MOBIL CORP COM XOM	XOM	83,710	$8.4m0.30%	0.30%	Reduced -592	-592 -0.7%
84	ISHARES TR ESG SELECT SCRE XVV	XVV	224,194	$8.2m0.29%	0.29%	Added +36.5k	+36,470 19.4%
85	MAGNA INTL INC COM MGA	MGA	133,221	$7.9m0.28%	0.28%	Reduced -25.3k	-25,299 -16.0%
86	UNILEVER PLC SPON ADR NEW SPON ADR NEW		157,007	$7.6m0.27%	0.27%	Reduced -215.8k	-215,764 -57.9%
87	ISHARES TR 1 3 YR TREAS BD SHY	SHY	92,539	$7.6m0.27%	0.27%	Added +3.7k	+3,679 4.1%
88	ISHARES TR RUSSELL 2000 ETF IWM	IWM	33,283	$6.7m0.24%	0.24%	Added +213	+213 0.6%
89	UNION PAC CORP COM UNP	UNP	25,332	$6.2m0.22%	0.22%	Added +1.0k	+1,005 4.1%
90	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	125,314	$6.0m0.22%	0.22%	Added +8.8k	+8,838 7.6%
91	3M CO COM MMM	MMM	52,872	$5.8m0.21%	0.21%	Reduced -3.8k	-3,828 -6.8%
92	MORGAN STANLEY COM NEW MS	MS	61,014	$5.7m0.21%	0.21%	Reduced -1.9k	-1,924 -3.1%
93	ISHARES TR ISHS 5-10YR INVT IGIB	IGIB	108,788	$5.7m0.20%	0.20%	Added +8.7k	+8,685 8.7%
94	ISHARES TR S&P MC 400VL ETF IJJ	IJJ	48,804	$5.6m0.20%	0.20%	Unchanged
95	ALPHABET INC CAP STK CL C GOOG	GOOG	38,333	$5.4m0.19%	0.19%	Reduced -1.1k	-1,052 -2.7%
96	BROOKFIELD RENEWABLE CORP CL A SUB VTG CL A SUB VTG		163,902	$4.7m0.17%	0.17%	Reduced -22.1k	-22,084 -11.9%
97	SPDR GOLD TR GOLD SHS GLD	GLD	23,727	$4.5m0.16%	0.16%	Added +20.1k	+20,051 545.5%
98	HOLOGIC INC COM HOLX	HOLX	62,575	$4.5m0.16%	0.16%	Added +24.4k	+24,404 63.9%
99	UNITEDHEALTH GROUP INC COM UNH	UNH	8,291	$4.4m0.16%	0.16%	Reduced -251	-251 -2.9%
100	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	8,203	$4.4m0.16%	0.16%	Reduced -112	-112 -1.4%

Sold out since Q3 2023

Security	Ticker	Shares held before	Value then
AMERICAN EXPRESS CO AXP	AXP	6,008	$896.3k6.0k shares
MONSTER BEVERAGE CORP NEW MNST	MNST	4,695	$248.6k4.7k shares
JOHNSON CTLS INTL PLC JCI	JCI	4,445	$238.1k4.4k shares
APA CORPORATION APA	APA	5,358	$220.2k5.4k shares
ALTRIA GROUP INC MO	MO	4,820	$207.4k4.8k shares
LATTICE SEMICONDUCTOR CORP LSCC	LSCC	2,391	$205.5k2.4k shares
VODAFONE GROUP PLC NEW VOD	VOD	14,139	$134.0k14.1k shares