BECKER CAPITAL MANAGEMENT INC

Portland, OR · CIK 799004 · 13F filing filed 2025-05-15

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)

$3.0bn reported value -0.9% vs Q4 2024

274positions

27.7%in top 10

11 new 79 added 119 reduced 9 sold out vs Q4 2024

Also in the report of:

Dorsey & Whitney Trust CO LLC – $7.1m of shares are in both reports

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

Holdings, Q1 2025

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	APPLE INC COM AAPL	AAPL	652,495	$144.9m4.78%	4.78%	Reduced -10.4k	-10,449 -1.6%
2	MICROSOFT CORP COM MSFT	MSFT	362,463	$136.1m4.48%	4.48%	Reduced -1.3k	-1,313 -0.4%
3	JPMORGAN CHASE & CO COM JPM	JPM	377,503	$92.6m3.05%	3.05%	Reduced -7.4k	-7,426 -1.9%
4	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	224,481	$83.2m2.74%	2.74%	Added +8.5k	+8,510 3.9%
5	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	272,668	$74.9m2.47%	2.47%	Reduced -301	-301 -0.1%
6	EMBRAER S.A. SPONSORED ADS EMBJ	EMBJ	1,541,216	$71.2m2.35%	2.35%	Reduced -173.8k	-173,764 -10.1%
7	ISHARES TR CORE S&P SCP ETF IJR	IJR	569,034	$59.5m1.96%	1.96%	Added +240	+240 0.0%
8	SCHWAB CHARLES CORP COM SCHW	SCHW	756,186	$59.2m1.95%	1.95%	Reduced -21.9k	-21,920 -2.8%
9	WALMART INC COM WMT	WMT	672,459	$59.2m1.95%	1.95%	Reduced -70.5k	-70,458 -9.5%
10	ISHARES TR MSCI EAFE ETF EFA	EFA	719,562	$58.8m1.94%	1.94%	Added +14.1k	+14,081 2.0%
11	MCKESSON CORP COM MCK	MCK	83,948	$56.6m1.86%	1.86%	Reduced -792	-792 -0.9%
12	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	93,247	$52.3m1.72%	1.72%	Added +858	+858 0.9%
13	RTX CORPORATION COM RTX	RTX	379,987	$50.3m1.66%	1.66%	Reduced -7.3k	-7,267 -1.9%
14	GOLDMAN SACHS GROUP INC COM GS	GS	87,705	$47.9m1.58%	1.58%	Reduced -6.1k	-6,101 -6.5%
15	BLACKROCK INC COM BLK	BLK	50,469	$47.8m1.57%	1.57%	Reduced -662	-662 -1.3%
16	AMAZON COM INC COM AMZN	AMZN	248,883	$47.4m1.56%	1.56%	Reduced -181	-181 -0.1%
17	SAP SE SPON ADR SAP	SAP	171,703	$46.1m1.52%	1.52%	Reduced -6.2k	-6,217 -3.5%
18	CISCO SYS INC COM CSCO	CSCO	712,630	$44.0m1.45%	1.45%	Reduced -25.1k	-25,138 -3.4%
19	QUALCOMM INC COM QCOM	QCOM	275,905	$42.4m1.40%	1.40%	Reduced -953	-953 -0.3%
20	JOHNSON & JOHNSON COM JNJ	JNJ	255,129	$42.3m1.39%	1.39%	Added +2.8k	+2,752 1.1%
21	ALLSTATE CORP COM ALL	ALL	194,538	$40.5m1.33%	1.33%	Reduced -1.6k	-1,637 -0.8%
22	CHEVRON CORP NEW COM CVX	CVX	239,898	$40.1m1.32%	1.32%	Added +4.2k	+4,170 1.8%
23	VERIZON COMMUNICATIONS INC COM VZ	VZ	842,697	$38.2m1.26%	1.26%	Reduced -18.2k	-18,176 -2.1%
24	ALPHABET INC CAP STK CL A GOOGL	GOOGL	231,453	$35.8m1.18%	1.18%	Reduced -54.8k	-54,826 -19.1%
25	SYSCO CORP COM SYY	SYY	474,151	$35.6m1.17%	1.17%	Reduced -3.3k	-3,266 -0.7%
26	SALESFORCE INC COM CRM	CRM	130,880	$35.1m1.16%	1.16%	Reduced -5.4k	-5,396 -4.0%
27	PROCTER AND GAMBLE CO COM PG	PG	202,907	$34.6m1.14%	1.14%	Added +293	+293 0.1%
28	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	64,516	$34.4m1.13%	1.13%	Reduced -270	-270 -0.4%
29	AIR PRODS & CHEMS INC COM APD	APD	115,178	$34.0m1.12%	1.12%	Added +453	+453 0.4%
30	HOME DEPOT INC COM HD	HD	91,817	$33.7m1.11%	1.11%	Reduced -3.1k	-3,084 -3.2%
31	NEWMONT CORP COM NEM	NEM	677,741	$32.7m1.08%	1.08%	Added +67.1k	+67,083 11.0%
32	FIRSTENERGY CORP COM FE	FE	792,577	$32.0m1.06%	1.06%	Added +15.3k	+15,277 2.0%
33	SANOFI SPONSORED ADR SNY	SNY	557,208	$30.9m1.02%	1.02%	Added +3.4k	+3,444 0.6%
34	AUTOZONE INC COM AZO	AZO	7,960	$30.3m1.00%	1.00%	Added +130	+130 1.7%
35	KINDER MORGAN INC DEL COM KMI	KMI	1,019,011	$29.1m0.96%	0.96%	Reduced -166.1k	-166,145 -14.0%
36	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	313,331	$28.4m0.94%	0.94%	Added +29.6k	+29,569 10.4%
37	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		381,117	$28.0m0.92%	0.92%	Added +2.1k	+2,120 0.6%
38	MERCK & CO INC COM MRK	MRK	308,143	$27.9m0.92%	0.92%	Added +2.6k	+2,597 0.8%
39	AMGEN INC COM AMGN	AMGN	89,297	$27.8m0.92%	0.92%	Reduced -435	-435 -0.5%
40	NIKE INC CL B NKE	NKE	430,088	$27.5m0.91%	0.91%	Reduced -10.7k	-10,683 -2.4%
41	BAKER HUGHES COMPANY CL A BKR	BKR	606,423	$26.7m0.88%	0.88%	Reduced -13.7k	-13,720 -2.2%
42	COSTCO WHSL CORP NEW COM COST	COST	26,664	$25.2m0.83%	0.83%	Reduced -7	-7 -0.0%
43	CARRIER GLOBAL CORPORATION COM CARR	CARR	395,269	$25.1m0.83%	0.83%	Reduced -977	-977 -0.2%
44	GROCERY OUTLET HLDG CORP COM GO	GO	1,792,531	$25.1m0.83%	0.83%	Added +1.4m	+1,427,404 390.9%
45	CHUBB LIMITED COM CB	CB	81,910	$24.8m0.82%	0.82%	Added +1.9k	+1,882 2.4%
46	DISNEY WALT CO COM DIS	DIS	241,885	$23.9m0.79%	0.79%	Added +6.9k	+6,867 2.9%
47	US BANCORP DEL COM NEW USB	USB	555,733	$23.7m0.78%	0.78%	Reduced -4.4k	-4,362 -0.8%
48	KONINKLIJKE PHILIPS N V NY REGIS SHS NEW PHG	PHG	913,327	$23.2m0.76%	0.76%	Reduced -32.2k	-32,215 -3.4%
49	PFIZER INC COM PFE	PFE	914,000	$23.2m0.76%	0.76%	Added +46.1k	+46,145 5.3%
50	ISHARES INC CORE MSCI EMKT IEMG	IEMG	425,306	$23.0m0.76%	0.76%	Reduced -31.8k	-31,823 -7.0%
51	GENERAL DYNAMICS CORP COM GD	GD	83,396	$22.7m0.75%	0.75%	Reduced -1.8k	-1,781 -2.1%
52	VISA INC COM CL A V	V	63,224	$22.2m0.73%	0.73%	Reduced -76	-76 -0.1%
53	PAYPAL HLDGS INC COM PYPL	PYPL	326,572	$21.3m0.70%	0.70%	Reduced -13.1k	-13,112 -3.9%
54	FLEX LTD ORD FLEX	FLEX	628,338	$20.8m0.69%	0.69%	Reduced -10.7k	-10,667 -1.7%
55	SOUTHERN CO COM SO	SO	222,318	$20.4m0.67%	0.67%	Added +10.0k	+9,952 4.7%
56	INTEL CORP COM INTC	INTC	868,571	$19.7m0.65%	0.65%	Reduced -44.4k	-44,363 -4.9%
57	METHANEX CORP COM MEOH	MEOH	546,676	$19.2m0.63%	0.63%	Added +13.7k	+13,717 2.6%
58	DIAGEO PLC SPON ADR NEW DEO	DEO	179,848	$19.1m0.63%	0.63%	Reduced -1.8k	-1,793 -1.0%
59	KROGER CO COM KR	KR	260,815	$17.7m0.58%	0.58%	Reduced -1.7k	-1,712 -0.7%
60	BAXTER INTL INC COM BAX	BAX	512,269	$17.6m0.58%	0.58%	Reduced -197.0k	-197,036 -27.8%
61	NVIDIA CORPORATION COM NVDA	NVDA	159,371	$17.3m0.57%	0.57%	Added +112.9k	+112,896 242.9%
62	HONEYWELL INTL INC COM COM		78,843	$16.7m0.55%	0.55%	Added +2.9k	+2,889 3.8%
63	TIMKEN CO COM TKR	TKR	224,607	$16.1m0.53%	0.53%	Added +6.7k	+6,729 3.1%
64	SHELL PLC SPON ADS SHEL	SHEL	216,240	$15.8m0.52%	0.52%	Added +5.0k	+5,039 2.4%
65	TE CONNECTIVITY PLC ORD SHS TEL	TEL	110,255	$15.6m0.51%	0.51%	Reduced -4.3k	-4,303 -3.8%
66	EATON CORP PLC SHS ETN	ETN	56,540	$15.4m0.51%	0.51%	Added +8.8k	+8,836 18.5%
67	CIENA CORP COM NEW CIEN	CIEN	241,797	$14.6m0.48%	0.48%	Reduced -5.7k	-5,691 -2.3%
68	MOLINA HEALTHCARE INC COM MOH	MOH	43,016	$14.2m0.47%	0.47%	Reduced -41	-41 -0.1%
69	META PLATFORMS INC CL A META	META	24,330	$14.0m0.46%	0.46%	Added +14.0k	+14,035 136.3%
70	ISHARES TR CORE S&P500 ETF IVV	IVV	24,937	$14.0m0.46%	0.46%	Added +959	+959 4.0%
71	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	44,243	$13.8m0.46%	0.46%	Reduced -3.8k	-3,792 -7.9%
72	REALTY INCOME CORP COM O	O	236,359	$13.7m0.45%	0.45%	Reduced -2.3k	-2,330 -1.0%
73	ISHARES TR CORE MSCI EAFE IEFA	IEFA	175,873	$13.3m0.44%	0.44%	Added +21.0k	+20,955 13.5%
74	BLACKSTONE INC COM BX	BX	92,301	$12.9m0.43%	0.43%	Reduced -1.7k	-1,676 -1.8%
75	TELEFLEX INCORPORATED COM TFX	TFX	88,042	$12.2m0.40%	0.40%	Added +79.2k	+79,152 890.4%
76	EXXON MOBIL CORP COM XOM	XOM	97,834	$11.6m0.38%	0.38%	Reduced -1.2k	-1,234 -1.2%
77	EMERSON ELEC CO COM EMR	EMR	103,422	$11.3m0.37%	0.37%	Reduced -2.1k	-2,143 -2.0%
78	QUEST DIAGNOSTICS INC COM DGX	DGX	66,206	$11.2m0.37%	0.37%	Reduced -7.5k	-7,483 -10.2%
79	BECTON DICKINSON & CO COM BDX	BDX	48,244	$11.1m0.36%	0.36%	Reduced -483	-483 -1.0%
80	ECOLAB INC COM ECL	ECL	40,979	$10.4m0.34%	0.34%	Reduced -1.2k	-1,227 -2.9%
81	BANK AMERICA CORP COM BAC	BAC	239,894	$10.0m0.33%	0.33%	Reduced -2.3k	-2,323 -1.0%
82	ISHARES TR ESG SELECT SCRE XVV	XVV	230,524	$9.9m0.33%	0.33%	Added +27.2k	+27,240 13.4%
83	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	155,664	$7.9m0.26%	0.26%	Reduced -3.4k	-3,422 -2.1%
84	STARBUCKS CORP COM SBUX	SBUX	80,023	$7.8m0.26%	0.26%	Reduced -8.5k	-8,477 -9.6%
85	ISHARES TR RUSSELL 2000 ETF IWM	IWM	35,244	$7.0m0.23%	0.23%	Added +1.7k	+1,662 5.0%
86	BROOKFIELD RENEWABLE CORP CL A EX SUB VTG BEPC	BEPC	246,735	$6.9m0.23%	0.23%	Added +23.4k	+23,440 10.5%
87	MORGAN STANLEY COM NEW MS	MS	58,096	$6.8m0.22%	0.22%	Reduced -525	-525 -0.9%
88	SPDR GOLD TR GOLD SHS GLD	GLD	22,342	$6.4m0.21%	0.21%	Added +20	+20 0.1%
89	ADOBE INC COM ADBE	ADBE	16,200	$6.2m0.20%	0.20%	Reduced -14.7k	-14,652 -47.5%
90	ISHARES TR S&P MC 400VL ETF IJJ	IJJ	48,804	$5.8m0.19%	0.19%	Unchanged
91	BLACKBAUD INC COM BLKB	BLKB	92,933	$5.8m0.19%	0.19%	Reduced -2.6k	-2,553 -2.7%
92	LAMB WESTON HLDGS INC COM LW	LW	103,726	$5.5m0.18%	0.18%	Reduced -10.5k	-10,549 -9.2%
93	BROADCOM INC COM AVGO	AVGO	32,948	$5.5m0.18%	0.18%	Reduced -2.9k	-2,912 -8.1%
94	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	10,722	$5.5m0.18%	0.18%	Added +1.2k	+1,153 12.1%
95	UNION PAC CORP COM UNP	UNP	23,273	$5.5m0.18%	0.18%	Reduced -918	-918 -3.8%
96	VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF VGK	VGK	74,895	$5.3m0.17%	0.17%	Reduced -2.3k	-2,283 -3.0%
97	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	476,022	$5.1m0.17%	0.17%	Added +69.5k	+69,526 17.1%
98	FISERV INC COM FISV	FISV	23,032	$5.1m0.17%	0.17%	Added +32	+32 0.1%
99	WASTE MGMT INC DEL COM WM	WM	21,946	$5.1m0.17%	0.17%	Added +923	+923 4.4%
100	UNILEVER PLC SPON ADR NEW SPON ADR NEW		84,307	$5.0m0.17%	0.17%	Added +5.1k	+5,140 6.5%

Sold out since Q4 2024

Security	Ticker	Shares held before	Value then
SCHWAB STRATEGIC TR SCHH	SCHH	142,331	$3.0m142.3k shares
RADIUS RECYCLING INC RDUS	RDUS	40,944	$623.2k40.9k shares
SMARTSHEET INC SMAR	SMAR	7,380	$413.5k7.4k shares
SCHWAB STRATEGIC TR SCHA	SCHA	8,325	$215.3k8.3k shares
KKR & CO INC KKR	KKR	1,417	$209.6k1.4k shares
AUTODESK INC ADSK	ADSK	697	$206.0k697 shares
STATE STR CORP STT	STT	2,095	$205.6k2.1k shares
SCHWAB STRATEGIC TR SCHB	SCHB	8,845	$200.8k8.8k shares
OATLY GROUP AB		12,500	$8.3k12.5k shares