Nuance Investments, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 7, 2024), Nuance Investments, LLC reported 49 stock positions worth $3.8 billion. Its top holding was 3M (MMM) at 10.2% of the portfolio, followed by Dentsply Sirona (XRAY, 9.1%) and Kimberly-Clark (KMB, 6.6%). Compared with Q4 2023, it opened 11 new positions, sold out of 9, added to 12 and reduced 26. The biggest buy was Qiagen (QGEN, shares +324%) and the biggest sale Travelers Cos (TRV, shares −96%).
- Most Recent 13F
- Q2 2026
- Location
- Kansas City, MO
- CIK
- 0001473182
- Portfolio Value
- $3.8B (Q1 2024)
- SEC Filing
- 0001085146-24-002271 ↗ filed May 7, 2024
Holdings Value
Holdings 49 stocks · $3.8B
| MMM 3M Co. | 10.17% | 3,655,973 | $387.7M | Reduce -5.7% |
| XRAY Dentsply Sirona Inc. | 9.12% | 10,477,587 | $347.8M | Reduce -9.7% |
| KMB Kimberly-Clark Corp. | 6.63% | 1,955,488 | $252.9M | Reduce -12.8% |
| NTRS Northern Trust Corp. | 6.01% | 2,578,147 | $229.2M | Reduce -16.4% |
| QGEN Qiagen NV | 5.07% | 4,493,489 | $193.2M | Add +323.7% |
| MWA Mueller Water Products Inc. Class A | 4.44% | 10,514,787 | $169.2M | Reduce -20.1% |
| RGA Reinsurance Group of America | 3.92% | 775,295 | $149.5M | Reduce -30.4% |
| CWT California Water Service Grp | 3.67% | 3,013,749 | $140.1M | Add +40.8% |
| HSIC Henry Schein Inc. | 3.48% | 1,755,190 | $132.6M | Add +28.5% |
| AWK American Water Works Co. Inc. | 3.07% | 958,309 | $117.1M | Add +70.3% |
| WERN Werner Enterprises Inc. | 3.03% | 2,948,542 | $115.3M | Add +30.0% |
| NVST Envista Holdings Corp. | 2.68% | 4,781,320 | $102.2M | Add +21.6% |
| CLX Clorox Company | 2.56% | 637,580 | $97.6M | Reduce -41.1% |
| DGX Quest Diagnostics Inc. | 2.38% | 681,636 | $90.7M | Add +13.1% |
| IDA Idacorp Inc. | 2.28% | 936,181 | $87.0M | New |
| CALM Cal-Maine Foods Inc. | 2.13% | 1,380,843 | $81.3M | Reduce -22.0% |
| HR Healthcare Realty Trust Inc. | 2.05% | 5,521,742 | $78.1M | Reduce -49.7% |
| HTO H2O America filed as SJW GROUP | 1.98% | 1,331,827 | $75.4M | Add +18.9% |
| MKC McCormick & Co.-Non VTG SHRS | 1.92% | 952,479 | $73.2M | New |
| EQC Equity Commonwealth | 1.52% | 3,068,439 | $57.9M | Reduce -40.9% |
| ILMN Illumina Inc. | 1.39% | 384,981 | $52.9M | Reduce -46.2% |
| HOLX Hologic Inc. | 1.36% | 665,447 | $51.9M | Add +94.6% |
| INDB Independent Bank Corp. | 1.31% | 961,932 | $50.0M | Reduce -24.7% |
| AVO Mission Produce Inc. | 1.24% | 3,972,841 | $47.2M | Reduce -14.0% |
| TOWN Towne Bank | 1.19% | 1,613,305 | $45.3M | Reduce -33.1% |
| AVA Avista Corp. | 1.19% | 1,292,053 | $45.2M | Reduce -22.0% |
| POR Portland General Electric Co. | 1.16% | 1,054,879 | $44.3M | Reduce -19.4% |
| ATR Aptargroup Inc. | 1.16% | 306,514 | $44.1M | Add +6.9% |
| NOC Northrop Grumman Corp. | 1.11% | 88,345 | $42.3M | New |
| CVGW Calavo Growers Inc. | 1.01% | 1,390,893 | $38.7M | Reduce -8.0% |
| DOC Healthpeak Properties Inc. | 0.99% | 2,011,096 | $37.7M | Reduce -43.3% |
| GL Globe Life Inc. | 0.98% | 320,782 | $37.3M | Add +27.8% |
| LNN Lindsay Corp. | 0.93% | 302,852 | $35.6M | Reduce -5.3% |
| DEO Diageo PLC-Sponsored ADR | 0.72% | 183,602 | $27.3M | Reduce -30.4% |
| WAT Waters Corp. | 0.70% | 77,368 | $26.6M | Reduce -81.5% |
| MRTN Marten Transport Ltd. | 0.63% | 1,305,306 | $24.1M | New |
| GGG Graco Inc. | 0.63% | 255,359 | $23.9M | Reduce -12.2% |
| BDX Becton Dickinson and Co. | 0.61% | 93,248 | $23.1M | New |
| LMT Lockheed Martin Corp. | 0.48% | 39,957 | $18.2M | New |
| KVUE Kenvue Inc. | 0.43% | 768,940 | $16.5M | New |
| TEL Te Connectivity Ltd. | 0.41% | 108,913 | $15.8M | New |
| IEX Idex Corp. | 0.41% | 63,572 | $15.5M | New |
| A Agilent Technologies Inc. | 0.40% | 105,464 | $15.3M | New |
| DD Dupont DE Nemours Inc. | 0.33% | 162,365 | $12.4M | Reduce -49.6% |
| ALB Albemarle Corp. | 0.32% | 93,899 | $12.4M | Add +11.1% |
| TRV The Travelers Cos Inc. | 0.31% | 51,439 | $11.8M | Reduce -95.9% |
| TMO Thermo Fisher Scientific Inc. | 0.28% | 18,443 | $10.7M | Reduce -0.8% |
| IWS iShares Russell Mid-Cap Valu | 0.19% | 59,066 | $7.4M | Reduce -27.8% |
| UL Unilever PLC | 0.01% | 10,987 | $551K | New |
Portfolio Sells Q4 2023 → Q1 2024
| TRV The Travelers Cos Inc. | Reduce -95.9% | 0.31% | −5.19 |
| WAT Waters Corp. | Reduce -81.5% | 0.70% | −2.46 |
| HR Healthcare Realty Trust Inc. | Reduce -49.7% | 2.05% | −2.28 |
| TGT Target Corp. | Sold out | 0.00% | −1.52 |
| CLX Clorox Company | Reduce -41.1% | 2.56% | −0.97 |
| ILMN Illumina Inc. | Reduce -46.2% | 1.39% | −0.89 |
| UHS Universal Health Services-B | Sold out | 0.00% | −0.88 |
| HIG Hartford Insurance Group Inc. | Sold out | 0.00% | −0.84 |
| EQC Equity Commonwealth | Reduce -40.9% | 1.52% | −0.76 |
| DOC Healthpeak Properties Inc. | Reduce -43.3% | 0.99% | −0.62 |
| INDB Independent Bank Corp. | Reduce -24.7% | 1.31% | −0.61 |
| LUV Southwest Airlines Co. | Sold out | 0.00% | −0.56 |
| WTRG Essential Utilities Inc. | Sold out | 0.00% | −0.54 |
| CB Chubb Ltd. | Sold out | 0.00% | −0.53 |
| TOWN Towne Bank | Reduce -33.1% | 1.19% | −0.45 |
| XRAY Dentsply Sirona Inc. | Reduce -9.7% | 9.12% | −0.33 |
| RJF Raymond James Financial Inc. | Sold out | 0.00% | −0.30 |
| APH Amphenol Corp. Class A | Sold out | 0.00% | −0.29 |
| DD Dupont DE Nemours Inc. | Reduce -49.6% | 0.33% | −0.24 |
| RGA Reinsurance Group of America | Reduce -30.4% | 3.92% | −0.20 |
| CALM Cal-Maine Foods Inc. | Reduce -22.0% | 2.13% | −0.19 |
| AVA Avista Corp. | Reduce -22.0% | 1.19% | −0.17 |
| DEO Diageo PLC-Sponsored ADR | Reduce -30.4% | 0.72% | −0.16 |
| POR Portland General Electric Co. | Reduce -19.4% | 1.16% | −0.14 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −0.04 |
| IWS iShares Russell Mid-Cap Valu | Reduce -27.8% | 0.19% | −0.02 |
| LNN Lindsay Corp. | Reduce -5.3% | 0.93% | −0.01 |
| CVGW Calavo Growers Inc. | Reduce -8.0% | 1.01% | −0.00 |
| GGG Graco Inc. | Reduce -12.2% | 0.63% | +0.05 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.8% | 0.28% | +0.06 |
| NTRS Northern Trust Corp. | Reduce -16.4% | 6.01% | +0.06 |
| MWA Mueller Water Products Inc. Class A | Reduce -20.1% | 4.44% | +0.10 |
| AVO Mission Produce Inc. | Reduce -14.0% | 1.24% | +0.17 |
| KMB Kimberly-Clark Corp. | Reduce -12.8% | 6.63% | +0.40 |
| MMM 3M Co. | Reduce -5.7% | 10.17% | +0.47 |
Portfolio Buys Q4 2023 → Q1 2024
| QGEN Qiagen NV | Add +323.7% | 5.07% | +3.98 |
| IDA Idacorp Inc. | New | 2.28% | +2.28 |
| MKC McCormick & Co.-Non VTG SHRS | New | 1.92% | +1.92 |
| AWK American Water Works Co. Inc. | Add +70.3% | 3.07% | +1.37 |
| CWT California Water Service Grp | Add +40.8% | 3.67% | +1.13 |
| HSIC Henry Schein Inc. | Add +28.5% | 3.48% | +1.11 |
| NOC Northrop Grumman Corp. | New | 1.11% | +1.11 |
| WERN Werner Enterprises Inc. | Add +30.0% | 3.03% | +0.83 |
| HOLX Hologic Inc. | Add +94.6% | 1.36% | +0.80 |
| MRTN Marten Transport Ltd. | New | 0.63% | +0.63 |
| BDX Becton Dickinson and Co. | New | 0.61% | +0.61 |
| NVST Envista Holdings Corp. | Add +21.6% | 2.68% | +0.52 |
| DGX Quest Diagnostics Inc. | Add +13.1% | 2.38% | +0.48 |
| LMT Lockheed Martin Corp. | New | 0.48% | +0.48 |
| KVUE Kenvue Inc. | New | 0.43% | +0.43 |
| TEL Te Connectivity Ltd. | New | 0.41% | +0.41 |
| IEX Idex Corp. | New | 0.41% | +0.41 |
| A Agilent Technologies Inc. | New | 0.40% | +0.40 |
| ATR Aptargroup Inc. | Add +6.9% | 1.16% | +0.35 |
| HTO H2O America | Add +18.9% | 1.98% | +0.30 |
| GL Globe Life Inc. | Add +27.8% | 0.98% | +0.28 |
| ALB Albemarle Corp. | Add +11.1% | 0.32% | +0.04 |
| UL Unilever PLC | New | 0.01% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 52 | $587.7M | QGEN, CWT, CLX, TMHC, SOLV |
| Q1 2026 | 43 | $717.1M | CWT, MRTN, QGEN, CLX, WERN |
| Q4 2025 | 45 | $907.6M | CLX, CWT, MRTN, WERN, AHL |
| Q3 2025 | 46 | $982.1M | CLX, CWT, MRTN, INFA, WERN |
| Q2 2025 | 46 | $1.3B | CLX, HOLX, EL, CWT, MRTN |
| Q1 2025 | 48 | $1.5B | EL, XRAY, QGEN, CWT, WERN |
| Q4 2024 | 52 | $2.5B | XRAY, EL, QGEN, GL, HSIC |
| Q3 2024 | 47 | $3.0B | XRAY, QGEN, HSIC, NTRS, WERN |
| Q2 2024 | 48 | $3.3B | XRAY, MMM, CLX, QGEN, NTRS |
| Q1 2024 | 49 | $3.8B | MMM, XRAY, KMB, NTRS, QGEN |