Nuance Investments, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Nuance Investments, LLC reported 46 stock positions worth $1.3 billion. Its top holding was Clorox (CLX) at 7.9% of the portfolio, followed by Hologic (HOLX, 7.0%) and Estee Lauder Companies Class A (EL, 6.9%). Compared with Q1 2025, it opened 4 new positions, sold out of 6, added to 15 and reduced 27. The biggest buy was Clorox (CLX, shares +182%) and the biggest sale an exit from Dentsply Sirona (XRAY).

Most Recent 13F
Q2 2026
Location
Kansas City, MO
CIK
0001473182
Portfolio Value
$1.3B (Q2 2025)
SEC Filing
0001085146-25-004661 ↗ filed Aug 7, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $3.8B Q1 2024 Q2 2024: $3.3B Q2 2024 Q3 2024: $3.0B Q3 2024 Q4 2024: $2.5B Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $1.3B $1.3B Q2 2025 Q3 2025: $982.1M Q3 2025 Q4 2025: $907.6M Q4 2025 Q1 2026: $717.1M Q1 2026 Q2 2026: $587.7M Q2 2026

Holdings 46 stocks · $1.3B
CLX Clorox Company 7.93% 848,106 $101.8M Add +182.4%
HOLX Hologic Inc. 7.00% 1,378,859 $89.8M Add +27.5%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 6.93% 1,100,746 $88.9M Reduce -55.0%
CWT California Water Service Grp 6.12% 1,728,615 $78.6M Reduce -14.3%
MRTN Marten Transport Ltd. 5.81% 5,745,928 $74.6M Add +9.7%
GL Globe Life Inc. 5.53% 571,567 $71.0M Add +3.1%
WERN Werner Enterprises Inc. 5.52% 2,589,790 $70.9M Reduce -8.6%
SOLV Solventum Corp. 5.22% 883,392 $67.0M Add +26.1%
QGEN Qiagen N.V. 5.08% 1,357,839 $65.3M Reduce -51.1%
HSIC Henry Schein Inc. 4.60% 808,457 $59.1M Reduce -11.2%
HTO H2O America 3.91% 964,800 $50.1M Reduce -17.4%
NTRS Northern Trust Corp. 3.81% 385,284 $48.9M Reduce -17.9%
INFA Informatica Inc. Class A 3.39% 1,788,876 $43.6M New
BDX Becton Dickinson and Co. 3.38% 251,889 $43.4M Add +296.4%
TMO Thermo Fisher Scientific Inc. 2.78% 87,895 $35.6M Add +1235.4%
ROG Rogers Corp. 2.15% 403,566 $27.6M Reduce -34.6%
NOC Northrop Grumman Corp. 1.94% 49,737 $24.9M Add +77.7%
KMB Kimberly-Clark Corp. 1.50% 149,384 $19.3M Add +35.1%
AWK American Water Works Co. Inc. 1.41% 130,461 $18.1M Reduce -8.8%
CVGW Calavo Growers Inc. 1.35% 653,633 $17.4M Reduce -63.1%
IEX Idex Corp. 1.10% 80,371 $14.1M Reduce -15.7%
KNX Knight-Swift Transportation 1.05% 304,758 $13.5M Reduce -7.8%
NKE Nike Inc. Class B 0.96% 173,853 $12.4M Add +31.3%
TTC Toro Co. 0.95% 172,162 $12.2M Reduce -32.6%
ATR Aptargroup Inc. 0.89% 72,880 $11.4M Reduce -49.6%
AVO Mission Produce Inc. 0.89% 971,056 $11.4M Reduce -49.9%
A Agilent Technologies Inc. 0.74% 80,698 $9.5M Add +13.6%
NDSN Nordson Corp. 0.59% 35,595 $7.6M Add +19.2%
GGG Graco Inc. 0.59% 87,659 $7.5M Reduce -14.7%
LNN Lindsay Corp. 0.59% 52,214 $7.5M Reduce -21.8%
CNH CNH Industrial NV 0.58% 570,765 $7.4M Add +16.1%
WAT Waters Corp. 0.57% 21,032 $7.3M New
AVA Avista Corp. 0.57% 191,671 $7.3M New
RGA Reinsurance Group of America 0.56% 36,239 $7.2M Reduce -56.6%
EG Everest Group Ltd. 0.56% 21,036 $7.1M Add +28.2%
TGT Target Corp. 0.40% 52,568 $5.2M Reduce -9.2%
POR Portland General Electric Co. 0.40% 126,885 $5.2M Reduce -34.0%
THRM Gentherm Inc. 0.40% 180,879 $5.1M Reduce -12.9%
AMAT Applied Materials Inc. 0.32% 22,420 $4.1M Reduce -78.0%
RJF Raymond James Financial Inc. 0.32% 26,418 $4.1M New
MTB M & T Bank Corp. filed as M & T BK CORP 0.30% 20,025 $3.9M Reduce -41.2%
IDA Idacorp Inc. 0.30% 33,562 $3.9M Reduce -20.3%
DOC Healthpeak Properties Inc. 0.29% 211,636 $3.7M Reduce -1.6%
ARE Alexandria Real Estate Equit 0.29% 50,573 $3.7M Add +7.5%
INDB Independent Bank Corp. 0.28% 56,138 $3.5M Reduce -13.4%
IWS iShares Russell Mid-Cap Valu 0.15% 15,045 $2.0M Reduce -84.5%

Portfolio Sells Q1 2025 → Q2 2025
XRAY Dentsply Sirona Inc. Sold out 0.00% −8.83
EL Estee Lauder Companies Class A Reduce -55.0% 6.93% −3.70
QGEN Qiagen N.V. Reduce -51.1% 5.08% −2.26
PYCR Paycor HCM Inc. Sold out 0.00% −2.07
NVST Envista Holdings Corp. Sold out 0.00% −1.66
CVGW Calavo Growers Inc. Reduce -63.1% 1.35% −1.44
AMAT Applied Materials Inc. Reduce -78.0% 0.32% −0.65
IWS iShares Russell Mid-Cap Valu Reduce -84.5% 0.15% −0.65
ROG Rogers Corp. Reduce -34.6% 2.15% −0.59
LMT Lockheed Martin Corp. Sold out 0.00% −0.53
ATR Aptargroup Inc. Reduce -49.6% 0.89% −0.52
RGA Reinsurance Group of America Reduce -56.6% 0.56% −0.52
AVO Mission Produce Inc. Reduce -49.9% 0.89% −0.45
CWT California Water Service Grp Reduce -14.3% 6.12% −0.31
HTO H2O America Reduce -17.4% 3.91% −0.30
TTC Toro Co. Reduce -32.6% 0.95% −0.27
POR Portland General Electric Co. Reduce -34.0% 0.40% −0.16
MTB M & T Bank Corp. Reduce -41.2% 0.30% −0.10
IJJ iShares S&P Mid-Cap 400 Valu Sold out 0.00% −0.04
IEX Idex Corp. Reduce -15.7% 1.10% −0.04
IDA Idacorp Inc. Reduce -20.3% 0.30% −0.02
MMM 3M Co. Sold out 0.00% −0.02
DOC Healthpeak Properties Inc. Reduce -1.6% 0.29% +0.00
TGT Target Corp. Reduce -9.2% 0.40% +0.01
INDB Independent Bank Corp. Reduce -13.4% 0.28% +0.01
GGG Graco Inc. Reduce -14.7% 0.59% +0.02
AWK American Water Works Co. Inc. Reduce -8.8% 1.41% +0.03
LNN Lindsay Corp. Reduce -21.8% 0.59% +0.03
THRM Gentherm Inc. Reduce -12.9% 0.40% +0.03
WERN Werner Enterprises Inc. Reduce -8.6% 5.52% +0.06
KNX Knight-Swift Transportation Reduce -7.8% 1.05% +0.10
HSIC Henry Schein Inc. Reduce -11.2% 4.60% +0.50
NTRS Northern Trust Corp. Reduce -17.9% 3.81% +0.76

Portfolio Buys Q1 2025 → Q2 2025
CLX Clorox Company Add +182.4% 7.93% +5.02
INFA Informatica Inc. Class A New 3.39% +3.39
HOLX Hologic Inc. Add +27.5% 7.00% +2.60
TMO Thermo Fisher Scientific Inc. Add +1235.4% 2.78% +2.56
BDX Becton Dickinson and Co. Add +296.4% 3.38% +2.42
SOLV Solventum Corp. Add +26.1% 5.22% +1.72
MRTN Marten Transport Ltd. Add +9.7% 5.81% +1.09
NOC Northrop Grumman Corp. Add +77.7% 1.94% +0.99
GL Globe Life Inc. Add +3.1% 5.53% +0.73
WAT Waters Corp. New 0.57% +0.57
AVA Avista Corp. New 0.57% +0.57
KMB Kimberly-Clark Corp. Add +35.1% 1.50% +0.47
NKE Nike Inc. Class B Add +31.3% 0.96% +0.41
RJF Raymond James Financial Inc. New 0.32% +0.32
NDSN Nordson Corp. Add +19.2% 0.59% +0.20
A Agilent Technologies Inc. Add +13.6% 0.74% +0.19
CNH CNH Industrial NV Add +16.1% 0.58% +0.18
EG Everest Group Ltd. Add +28.2% 0.56% +0.16
ARE Alexandria Real Estate Equit Add +7.5% 0.29% −0.00

Notes & Other Activity Q1 2025 → Q2 2025
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A Sold out 72,164 $2.6Mbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 52$587.7MQGEN, CWT, CLX, TMHC, SOLV
Q1 2026 43$717.1MCWT, MRTN, QGEN, CLX, WERN
Q4 2025 45$907.6MCLX, CWT, MRTN, WERN, AHL
Q3 2025 46$982.1MCLX, CWT, MRTN, INFA, WERN
Q2 2025 46$1.3BCLX, HOLX, EL, CWT, MRTN
Q1 2025 48$1.5BEL, XRAY, QGEN, CWT, WERN
Q4 2024 52$2.5BXRAY, EL, QGEN, GL, HSIC
Q3 2024 47$3.0BXRAY, QGEN, HSIC, NTRS, WERN
Q2 2024 48$3.3BXRAY, MMM, CLX, QGEN, NTRS
Q1 2024 49$3.8BMMM, XRAY, KMB, NTRS, QGEN