Nuance Investments, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Nuance Investments, LLC reported 52 stock positions worth $2.5 billion. Its top holding was Dentsply Sirona (XRAY) at 10.4% of the portfolio, followed by Estee Lauder Companies Class A (EL, 9.4%) and Qiagen (QGEN, 7.5%). Compared with Q3 2024, it opened 12 new positions, sold out of 7, added to 13 and reduced 27. The biggest buy was Estee Lauder Companies Class A (EL, shares +192%) and the biggest sale Clorox (CLX, shares −59%).
- Most Recent 13F
- Q2 2026
- Location
- Kansas City, MO
- CIK
- 0001473182
- Portfolio Value
- $2.5B (Q4 2024)
- SEC Filing
- 0001085146-25-001018 ↗ filed Feb 12, 2025
Holdings Value
Holdings 52 stocks · $2.5B
| XRAY Dentsply Sirona Inc. | 10.41% | 13,545,981 | $257.1M | Add +25.0% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 9.39% | 3,092,268 | $231.9M | Add +192.0% |
| QGEN Qiagen NV | 7.47% | 4,145,012 | $184.6M | Reduce -7.7% |
| GL Globe Life Inc. | 5.57% | 1,234,069 | $137.6M | Add +8.3% |
| HSIC Henry Schein Inc. | 5.52% | 1,969,166 | $136.3M | Reduce -13.6% |
| WERN Werner Enterprises Inc. | 5.25% | 3,612,594 | $129.8M | Reduce -8.4% |
| NTRS Northern Trust Corp. | 3.84% | 926,082 | $94.9M | Reduce -49.3% |
| NVST Envista Holdings Corp. | 3.75% | 4,802,214 | $92.6M | Reduce -34.6% |
| SOLV Solventum Corp. | 3.63% | 1,356,217 | $89.6M | Reduce -17.3% |
| ROG Rogers Corp. | 3.33% | 810,081 | $82.3M | Add +26.6% |
| MMM 3M Co. | 3.06% | 585,957 | $75.6M | Reduce -33.3% |
| CWT California Water Service Grp | 2.73% | 1,490,168 | $67.5M | Reduce -8.8% |
| KMB Kimberly-Clark Corp. | 2.70% | 509,202 | $66.7M | Reduce -18.7% |
| HTO H2O America filed as SJW GROUP | 2.50% | 1,256,548 | $61.9M | Add +4.3% |
| KNX Knight-Swift Transportation | 2.40% | 1,117,896 | $59.3M | Add +20.3% |
| CLX Clorox Company | 2.36% | 359,112 | $58.3M | Reduce -59.0% |
| MRTN Marten Transport Ltd. | 2.02% | 3,196,811 | $49.9M | Add +21.7% |
| NOC Northrop Grumman Corp. | 1.72% | 90,673 | $42.6M | Add +13.4% |
| CVGW Calavo Growers Inc. | 1.72% | 1,663,515 | $42.4M | Add +1.6% |
| IDA Idacorp Inc. | 1.70% | 384,317 | $42.0M | Reduce -51.5% |
| RGA Reinsurance Group of America | 1.44% | 166,353 | $35.5M | Reduce -33.2% |
| TTC Toro Co. | 1.25% | 386,160 | $30.9M | Add +14.9% |
| POR Portland General Electric Co. | 1.17% | 664,985 | $29.0M | Reduce -4.2% |
| AVA Avista Corp. | 1.16% | 784,923 | $28.8M | Reduce -8.6% |
| GGG Graco Inc. | 1.14% | 334,811 | $28.2M | Reduce -26.7% |
| AVO Mission Produce Inc. | 1.14% | 1,954,991 | $28.1M | Reduce -33.1% |
| MKC McCormick & Co.-Non VTG SHRS | 1.12% | 364,020 | $27.8M | Reduce -39.5% |
| IEX Idex Corp. | 0.93% | 109,293 | $22.9M | Reduce -21.3% |
| AWK American Water Works Co. Inc. | 0.84% | 167,435 | $20.8M | Add +46.3% |
| LNN Lindsay Corp. | 0.82% | 170,845 | $20.2M | Reduce -26.0% |
| IWS iShares Russell Mid-Cap Valu | 0.67% | 128,916 | $16.7M | Add +623.8% |
| CNH CNH Industrial NV | 0.64% | 1,400,774 | $15.9M | New |
| TGT Target Corp. | 0.61% | 110,890 | $15.0M | New |
| THRM Gentherm Inc. | 0.58% | 355,951 | $14.2M | Reduce -1.1% |
| DOC Healthpeak Properties Inc. | 0.56% | 677,938 | $13.7M | Reduce -10.5% |
| ATR Aptargroup Inc. | 0.54% | 85,622 | $13.5M | Reduce -65.0% |
| HOLX Hologic Inc. | 0.44% | 149,413 | $10.8M | Reduce -9.3% |
| LRCX Lam Research Corp. | 0.30% | 103,190 | $7.5M | New |
| MWA Mueller Water Products Inc. Class A | 0.30% | 325,196 | $7.3M | Reduce -82.3% |
| LUV Southwest Airlines Co. | 0.30% | 217,527 | $7.3M | Reduce -69.0% |
| BDX Becton Dickinson and Co. | 0.29% | 32,049 | $7.3M | New |
| EG Everest Group Ltd. | 0.29% | 19,982 | $7.2M | New |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.29% | 41,981 | $7.2M | New |
| AMAT Applied Materials Inc. | 0.28% | 43,154 | $7.0M | New |
| TEL Te Connectivity PLC | 0.28% | 48,836 | $7.0M | Reduce -55.2% |
| ARE Alexandria Real Estate Equit | 0.28% | 70,592 | $6.9M | New |
| NKE Nike Inc. Class B | 0.28% | 90,759 | $6.9M | New |
| ST Sensata Technologies Holdplc | 0.27% | 241,713 | $6.6M | New |
| INDB Independent Bank Corp. | 0.27% | 102,499 | $6.6M | Reduce -5.8% |
| PII Polaris Inc. | 0.26% | 109,411 | $6.3M | New |
| TMO Thermo Fisher Scientific Inc. | 0.17% | 8,010 | $4.2M | Add +8.2% |
| IJJ iShares S&P Mid-Cap 400 Valu | 0.01% | 2,735 | $342K | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $6.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 165,546 | $6.7M | Reduce -17.4% |
Total filed on the 13F, all lines: $2.5B.
Portfolio Sells Q3 2024 → Q4 2024
| CLX Clorox Company | Reduce -59.0% | 2.36% | −2.45 |
| NTRS Northern Trust Corp. | Reduce -49.3% | 3.84% | −1.70 |
| SRCL Stericycle Inc. | Sold out | 0.00% | −1.44 |
| NVST Envista Holdings Corp. | Reduce -34.6% | 3.75% | −1.14 |
| IDA Idacorp Inc. | Reduce -51.5% | 1.70% | −1.05 |
| MWA Mueller Water Products Inc. Class A | Reduce -82.3% | 0.30% | −1.04 |
| MMM 3M Co. | Reduce -33.3% | 3.06% | −0.98 |
| ATR Aptargroup Inc. | Reduce -65.0% | 0.54% | −0.78 |
| EQC Equity Commonwealth | Sold out | 0.00% | −0.76 |
| WAT Waters Corp. | Sold out | 0.00% | −0.71 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -39.5% | 1.12% | −0.54 |
| LUV Southwest Airlines Co. | Reduce -69.0% | 0.30% | −0.40 |
| RGA Reinsurance Group of America | Reduce -33.2% | 1.44% | −0.39 |
| TOWN Towne Bank | Sold out | 0.00% | −0.34 |
| KMB Kimberly-Clark Corp. | Reduce -18.7% | 2.70% | −0.30 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.30 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.30 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.30 |
| TEL Te Connectivity PLC | Reduce -55.2% | 0.28% | −0.27 |
| CWT California Water Service Grp | Reduce -8.8% | 2.73% | −0.25 |
| SOLV Solventum Corp. | Reduce -17.3% | 3.63% | −0.22 |
| GGG Graco Inc. | Reduce -26.7% | 1.14% | −0.20 |
| LNN Lindsay Corp. | Reduce -26.0% | 0.82% | −0.15 |
| AVO Mission Produce Inc. | Reduce -33.1% | 1.14% | −0.13 |
| HSIC Henry Schein Inc. | Reduce -13.6% | 5.52% | −0.08 |
| IEX Idex Corp. | Reduce -21.3% | 0.93% | −0.08 |
| DOC Healthpeak Properties Inc. | Reduce -10.5% | 0.56% | −0.03 |
| HOLX Hologic Inc. | Reduce -9.3% | 0.44% | −0.02 |
| THRM Gentherm Inc. | Reduce -1.1% | 0.58% | +0.01 |
| AVA Avista Corp. | Reduce -8.6% | 1.16% | +0.04 |
| INDB Independent Bank Corp. | Reduce -5.8% | 0.27% | +0.05 |
| POR Portland General Electric Co. | Reduce -4.2% | 1.17% | +0.05 |
| WERN Werner Enterprises Inc. | Reduce -8.4% | 5.25% | +0.13 |
| QGEN Qiagen NV | Reduce -7.7% | 7.47% | +0.57 |
Portfolio Buys Q3 2024 → Q4 2024
| EL Estee Lauder Companies Class A | Add +192.0% | 9.39% | +5.83 |
| GL Globe Life Inc. | Add +8.3% | 5.57% | +1.51 |
| ROG Rogers Corp. | Add +26.6% | 3.33% | +0.90 |
| KNX Knight-Swift Transportation | Add +20.3% | 2.40% | +0.71 |
| CNH CNH Industrial NV | New | 0.64% | +0.64 |
| TGT Target Corp. | New | 0.61% | +0.61 |
| IWS iShares Russell Mid-Cap Valu | Add +623.8% | 0.67% | +0.60 |
| XRAY Dentsply Sirona Inc. | Add +25.0% | 10.41% | +0.53 |
| MRTN Marten Transport Ltd. | Add +21.7% | 2.02% | +0.45 |
| LRCX Lam Research Corp. | New | 0.30% | +0.30 |
| NOC Northrop Grumman Corp. | Add +13.4% | 1.72% | +0.30 |
| BDX Becton Dickinson and Co. | New | 0.29% | +0.29 |
| EG Everest Group Ltd. | New | 0.29% | +0.29 |
| JBHT Hunt (jb) Transprt SVCS Inc. | New | 0.29% | +0.29 |
| AMAT Applied Materials Inc. | New | 0.28% | +0.28 |
| AWK American Water Works Co. Inc. | Add +46.3% | 0.84% | +0.28 |
| ARE Alexandria Real Estate Equit | New | 0.28% | +0.28 |
| NKE Nike Inc. Class B | New | 0.28% | +0.28 |
| TTC Toro Co. | Add +14.9% | 1.25% | +0.27 |
| ST Sensata Technologies Holdplc | New | 0.27% | +0.27 |
| PII Polaris Inc. | New | 0.26% | +0.26 |
| HTO H2O America | Add +4.3% | 2.50% | +0.15 |
| CVGW Calavo Growers Inc. | Add +1.6% | 1.72% | +0.14 |
| TMO Thermo Fisher Scientific Inc. | Add +8.2% | 0.17% | +0.01 |
| IJJ iShares S&P Mid-Cap 400 Valu | New | 0.01% | +0.01 |
Notes & Other Activity Q3 2024 → Q4 2024
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Reduce -17.4% | 165,546 | $6.7M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |