BECKER CAPITAL MANAGEMENT INC

Portland, OR · CIK 799004 · 13F filing filed 2025-11-12

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)

$3.4bn reported value +6.7% vs Q2 2025

293positions

30.1%in top 10

16 new 83 added 128 reduced 1 sold out vs Q2 2025

Also in the report of:

Dorsey & Whitney Trust CO LLC – $8.4m of shares are in both reports

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

Holdings, Q3 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	MICROSOFT CORP COM MSFT	MSFT	359,189	$186.0m5.44%	5.44%	Reduced -2.4k	-2,366 -0.7%
2	APPLE INC COM AAPL	AAPL	621,381	$158.2m4.62%	4.62%	Reduced -6.9k	-6,858 -1.1%
3	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	251,839	$120.9m3.53%	3.53%	Added +12.8k	+12,771 5.3%
4	JPMORGAN CHASE & CO COM JPM	JPM	357,936	$112.9m3.30%	3.30%	Reduced -16.8k	-16,766 -4.5%
5	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	266,007	$87.5m2.56%	2.56%	Added +700	+700 0.3%
6	EMBRAER S.A. SPONSORED ADS EMBJ	EMBJ	1,428,695	$86.4m2.52%	2.52%	Reduced -68.0k	-67,998 -4.5%
7	ISHARES TR MSCI EAFE ETF EFA	EFA	801,714	$74.9m2.19%	2.19%	Added +44.5k	+44,503 5.9%
8	SCHWAB CHARLES CORP COM SCHW	SCHW	747,319	$71.3m2.08%	2.08%	Reduced -8.5k	-8,520 -1.1%
9	GOLDMAN SACHS GROUP INC COM GS	GS	83,314	$66.3m1.94%	1.94%	Reduced -4.0k	-4,046 -4.6%
10	WALMART INC COM WMT	WMT	641,141	$66.1m1.93%	1.93%	Reduced -26.1k	-26,144 -3.9%
11	RTX CORPORATION COM RTX	RTX	370,174	$61.9m1.81%	1.81%	Reduced -843	-843 -0.2%
12	MCKESSON CORP COM MCK	MCK	79,395	$61.4m1.79%	1.79%	Reduced -1.6k	-1,563 -1.9%
13	NVIDIA CORPORATION COM NVDA	NVDA	327,732	$61.2m1.79%	1.79%	Added +966	+966 0.3%
14	AMAZON COM INC COM AMZN	AMZN	272,659	$59.9m1.75%	1.75%	Added +575	+575 0.2%
15	BLACKROCK INC COM BLK	BLK	49,742	$58.0m1.69%	1.69%	Reduced -707	-707 -1.4%
16	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	82,265	$55.0m1.61%	1.61%	Reduced -10.3k	-10,344 -11.2%
17	ALPHABET INC CAP STK CL A GOOGL	GOOGL	224,171	$54.5m1.59%	1.59%	Reduced -697	-697 -0.3%
18	ISHARES TR CORE S&P SCP ETF IJR	IJR	427,257	$50.8m1.48%	1.48%	Added +12.7k	+12,672 3.1%
19	NEWMONT CORP COM NEM	NEM	577,346	$48.7m1.42%	1.42%	Reduced -2.1k	-2,078 -0.4%
20	JOHNSON & JOHNSON COM JNJ	JNJ	258,600	$47.9m1.40%	1.40%	Reduced -1.6k	-1,597 -0.6%
21	CISCO SYS INC COM CSCO	CSCO	673,956	$46.1m1.35%	1.35%	Reduced -32.6k	-32,578 -4.6%
22	QUALCOMM INC COM QCOM	QCOM	274,623	$45.7m1.33%	1.33%	Reduced -4.4k	-4,425 -1.6%
23	SAP SE SPON ADR SAP	SAP	167,537	$44.8m1.31%	1.31%	Reduced -2.2k	-2,201 -1.3%
24	ALLSTATE CORP COM ALL	ALL	190,919	$41.2m1.20%	1.20%	Reduced -2.4k	-2,447 -1.3%
25	CHEVRON CORP NEW COM CVX	CVX	251,794	$39.1m1.14%	1.14%	Added +3.1k	+3,087 1.2%
26	SYSCO CORP COM SYY	SYY	462,025	$38.0m1.11%	1.11%	Reduced -565	-565 -0.1%
27	HOME DEPOT INC COM HD	HD	92,098	$37.3m1.09%	1.09%	Added +431	+431 0.5%
28	FIRSTENERGY CORP COM FE	FE	809,400	$37.1m1.08%	1.08%	Added +2.6k	+2,629 0.3%
29	FLEX LTD ORD FLEX	FLEX	591,081	$34.3m1.00%	1.00%	Reduced -10.7k	-10,747 -1.8%
30	AUTOZONE INC COM AZO	AZO	7,801	$33.5m0.98%	0.98%	Reduced -152	-152 -1.9%
31	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	65,157	$32.8m0.96%	0.96%	Added +443	+443 0.7%
32	AIR PRODS & CHEMS INC COM APD	APD	116,928	$31.9m0.93%	0.93%	Added +607	+607 0.5%
33	CIENA CORP COM NEW CIEN	CIEN	218,076	$31.8m0.93%	0.93%	Reduced -4.9k	-4,902 -2.2%
34	PROCTER AND GAMBLE CO COM PG	PG	203,608	$31.3m0.91%	0.91%	Reduced -1.2k	-1,227 -0.6%
35	SALESFORCE INC COM CRM	CRM	129,711	$30.8m0.90%	0.90%	Added +314	+314 0.2%
36	BAKER HUGHES COMPANY CL A BKR	BKR	608,270	$29.6m0.87%	0.87%	Added +1.5k	+1,456 0.2%
37	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	319,685	$29.2m0.85%	0.85%	Added +4.5k	+4,507 1.4%
38	GENERAL DYNAMICS CORP COM GD	GD	84,187	$28.7m0.84%	0.84%	Added +808	+808 1.0%
39	KINDER MORGAN INC DEL COM KMI	KMI	1,011,918	$28.6m0.84%	0.84%	Added +6.0k	+5,957 0.6%
40	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		365,300	$28.0m0.82%	0.82%	Reduced -8.0k	-8,047 -2.2%
41	INTEL CORP COM INTC	INTC	826,097	$27.7m0.81%	0.81%	Reduced -44.5k	-44,481 -5.1%
42	DISNEY WALT CO COM DIS	DIS	238,884	$27.4m0.80%	0.80%	Reduced -4.1k	-4,091 -1.7%
43	US BANCORP DEL COM NEW USB	USB	550,124	$26.9m0.79%	0.79%	Added +4.3k	+4,334 0.8%
44	ISHARES INC CORE MSCI EMKT IEMG	IEMG	403,710	$26.6m0.78%	0.78%	Reduced -2.5k	-2,509 -0.6%
45	META PLATFORMS INC CL A META	META	35,052	$25.7m0.75%	0.75%	Added +1.7k	+1,657 5.0%
46	CARRIER GLOBAL CORPORATION COM CARR	CARR	425,547	$25.4m0.74%	0.74%	Added +22.4k	+22,377 5.5%
47	MERCK & CO INC COM MRK	MRK	296,427	$25.1m0.73%	0.73%	Reduced -7.5k	-7,498 -2.5%
48	AMGEN INC COM AMGN	AMGN	88,402	$24.9m0.73%	0.73%	Reduced -816	-816 -0.9%
49	KONINKLIJKE PHILIPS N V NY REGIS SHS NEW PHG	PHG	911,185	$24.8m0.73%	0.73%	Reduced -270	-270 -0.0%
50	SANOFI SPONSORED ADR SNY	SNY	522,681	$24.7m0.72%	0.72%	Reduced -45.7k	-45,719 -8.0%
51	VERIZON COMMUNICATIONS INC COM VZ	VZ	559,528	$24.6m0.72%	0.72%	Reduced -9.6k	-9,616 -1.7%
52	CHUBB LIMITED COM CB	CB	86,268	$24.4m0.71%	0.71%	Added +2.3k	+2,341 2.8%
53	COSTCO WHSL CORP NEW COM COST	COST	26,277	$24.3m0.71%	0.71%	Reduced -233	-233 -0.9%
54	EATON CORP PLC SHS ETN	ETN	62,435	$23.4m0.68%	0.68%	Reduced -159	-159 -0.2%
55	SOUTHERN CO COM SO	SO	240,492	$22.8m0.67%	0.67%	Added +6.4k	+6,440 2.8%
56	TE CONNECTIVITY PLC ORD SHS TEL	TEL	101,751	$22.3m0.65%	0.65%	Reduced -3.3k	-3,270 -3.1%
57	PAYPAL HLDGS INC COM PYPL	PYPL	333,027	$22.3m0.65%	0.65%	Added +5.7k	+5,663 1.7%
58	VISA INC COM CL A V	V	63,331	$21.6m0.63%	0.63%	Reduced -168	-168 -0.3%
59	METHANEX CORP COM MEOH	MEOH	528,419	$21.0m0.61%	0.61%	Reduced -35.2k	-35,190 -6.2%
60	NIKE INC CL B NKE	NKE	286,414	$20.1m0.59%	0.59%	Added +10.3k	+10,305 3.7%
61	HONEYWELL INTL INC COM COM		86,055	$18.1m0.53%	0.53%	Added +2.6k	+2,595 3.1%
62	ISHARES TR CORE MSCI EAFE IEFA	IEFA	200,026	$17.5m0.51%	0.51%	Added +14.6k	+14,582 7.9%
63	KROGER CO COM KR	KR	252,721	$17.0m0.50%	0.50%	Reduced -3.6k	-3,569 -1.4%
64	ELI LILLY & CO COM LLY	LLY	21,677	$16.5m0.48%	0.48%	Added +1.4k	+1,353 6.7%
65	ISHARES TR CORE S&P500 ETF IVV	IVV	24,678	$16.5m0.48%	0.48%	Reduced -125	-125 -0.5%
66	TIMKEN CO COM TKR	TKR	213,804	$16.1m0.47%	0.47%	Reduced -1	-1 0.0%
67	BLACKSTONE INC COM BX	BX	91,028	$15.6m0.45%	0.45%	Reduced -853	-853 -0.9%
68	SHELL PLC SPON ADS SHEL	SHEL	213,756	$15.3m0.45%	0.45%	Reduced -1.0k	-1,002 -0.5%
69	REALTY INCOME CORP COM O	O	210,217	$12.8m0.37%	0.37%	Reduced -20.9k	-20,851 -9.0%
70	QUEST DIAGNOSTICS INC COM DGX	DGX	64,117	$12.2m0.36%	0.36%	Reduced -1.1k	-1,135 -1.7%
71	BANK AMERICA CORP COM BAC	BAC	231,195	$11.9m0.35%	0.35%	Reduced -4.1k	-4,122 -1.8%
72	ISHARES TR ESG SELECT SCRE XVV	XVV	225,869	$11.6m0.34%	0.34%	Reduced -1.1k	-1,085 -0.5%
73	EXXON MOBIL CORP COM XOM	XOM	98,462	$11.1m0.32%	0.32%	Reduced -170	-170 -0.2%
74	EMERSON ELEC CO COM EMR	EMR	83,524	$11.0m0.32%	0.32%	Reduced -2.9k	-2,913 -3.4%
75	BROADCOM INC COM AVGO	AVGO	32,596	$10.8m0.31%	0.31%	Reduced -71	-71 -0.2%
76	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	42,937	$10.6m0.31%	0.31%	Added +126	+126 0.3%
77	ECOLAB INC COM ECL	ECL	36,984	$10.2m0.30%	0.30%	Reduced -332	-332 -0.9%
78	BRUKER CORP COM BRKR	BRKR	301,155	$9.8m0.29%	0.29%	Added +258.5k	+258,545 606.8%
79	BAXTER INTL INC COM BAX	BAX	415,656	$9.5m0.28%	0.28%	Reduced -85.2k	-85,167 -17.0%
80	ISHARES TR RUSSELL 2000 ETF IWM	IWM	38,550	$9.3m0.27%	0.27%	Added +3.7k	+3,710 10.7%
81	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	149,273	$8.9m0.26%	0.26%	Added +2.1k	+2,065 1.4%
82	MORGAN STANLEY COM NEW MS	MS	56,026	$8.9m0.26%	0.26%	Reduced -722	-722 -1.3%
83	BECTON DICKINSON & CO COM BDX	BDX	47,488	$8.9m0.26%	0.26%	Reduced -781	-781 -1.6%
84	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	14,434	$8.9m0.26%	0.26%	Added +2.4k	+2,387 19.8%
85	GROCERY OUTLET HLDG CORP COM GO	GO	534,138	$8.6m0.25%	0.25%	Reduced -242.1k	-242,147 -31.2%
86	BROOKFIELD RENEWABLE CORP CL A EX SUB VTG BEPC	BEPC	246,557	$8.5m0.25%	0.25%	Reduced -1.6k	-1,633 -0.7%
87	PFIZER INC COM PFE	PFE	325,863	$8.3m0.24%	0.24%	Reduced -54.1k	-54,103 -14.2%
88	SPDR GOLD TR GOLD SHS GLD	GLD	22,392	$8.0m0.23%	0.23%	Reduced -50	-50 -0.2%
89	DIAGEO PLC SPON ADR NEW DEO	DEO	83,022	$7.9m0.23%	0.23%	Reduced -93.8k	-93,794 -53.0%
90	MOLINA HEALTHCARE INC COM MOH	MOH	38,040	$7.3m0.21%	0.21%	Reduced -5.5k	-5,456 -12.5%
91	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	106,112	$6.8m0.20%	0.20%	Added +8.1k	+8,088 8.2%
92	ISHARES TR S&P MC 400VL ETF IJJ	IJJ	48,804	$6.3m0.18%	0.18%	Unchanged
93	ALPHABET INC CAP STK CL C GOOG	GOOG	24,906	$6.1m0.18%	0.18%	Added +143	+143 0.6%
94	VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF VGK	VGK	73,149	$5.8m0.17%	0.17%	Reduced -276	-276 -0.4%
95	TELEFLEX INCORPORATED COM TFX	TFX	47,677	$5.8m0.17%	0.17%	Reduced -276	-276 -0.6%
96	STARBUCKS CORP COM SBUX	SBUX	68,891	$5.8m0.17%	0.17%	Reduced -3.4k	-3,398 -4.7%
97	WASTE MGMT INC DEL COM WM	WM	25,245	$5.6m0.16%	0.16%	Added +960	+960 4.0%
98	HOLOGIC INC COM HOLX	HOLX	81,755	$5.5m0.16%	0.16%	Added +13.6k	+13,610 20.0%
99	ADOBE INC COM ADBE	ADBE	15,310	$5.4m0.16%	0.16%	Added +52	+52 0.3%
100	UNION PAC CORP COM UNP	UNP	22,652	$5.4m0.16%	0.16%	Reduced -305	-305 -1.3%

Sold out since Q2 2025

Security	Ticker	Shares held before	Value then
HESS CORP HES	HES	1,666	$230.8k1.7k shares