SEC 13F Intelligence

Managers / Q1 2020 · view latest →

NUANCE INVESTMENTS, LLC

CIK 0001473182 · 4900 MAIN STREET, SUITE 220, KANSAS CITY, MO, 64112 · 913-647-9700

Reported Value
$2.9B
Q1 2020
Positions
62
Filings on Record
31
2019–present window
Filed
May 12, 2020
original filing

Summary

Nuance Investments, LLC reported $2.9B in U.S.-listed holdings across 62 positions for Q1 2020.

Its largest position, TRV, represents 8.3% of the portfolio.

Compared with Q4 2019, the fund opened 18 new positions and exited 14.

Portfolio Metrics

Turnover
+30.6%
vs prior filed quarter
Top-10 Concentration
+56.5%
share of reported value
Largest Position
+8.3%
Travelers Companies
New / Exited
18 / 14
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.5BQ4 ’18Q1 ’19: $1.9BQ2 ’19: $2.4BQ3 ’19: $2.7BQ4 ’19: $3.1BQ4 ’19Q1 ’20: $2.9BQ2 ’20: $3.9BQ3 ’20: $4.3BQ4 ’20: $5.2BQ4 ’20Q1 ’21: $5.4BQ2 ’21: $5.6BQ3 ’21: $5.5BQ4 ’21: $5.7BQ4 ’21Q1 ’22: $5.6BQ2 ’22: $5.0BQ3 ’22: $4.5BQ4 ’22: $4.8BQ4 ’22Q1 ’23: $4.7BQ2 ’23: $4.7BQ3 ’23: $4.1BQ4 ’23: $4.4BQ4 ’23Q1 ’24: $3.8BQ2 ’24: $3.3BQ3 ’24: $3.0BQ4 ’24: $2.5BQ4 ’24Q1 ’25: $1.5BQ2 ’25: $1.3BQ3 ’25: $982MQ4 ’25: $908MQ4 ’25Q1 ’26: $717Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 85.4%ADR: 10.4%PUBLIC: 2.4%Other: 1.5%REIT: 0.2%ETP: 0.1%
  • Common Stock · 85.4% · $2.5B
  • ADR · 10.4% · $300M
  • PUBLIC · 2.4% · $69M
  • Other · 1.5% · $44M
  • REIT · 0.2% · $6M
  • ETP · 0.1% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ESSENTIAL UTILS INCNEW+1.27M1.27M+$69M$69M
WTRGESSENTIAL UTILS INCNEW+1.24M1.24M+$51M$51M
CFRCULLEN FROST BANKERS INCNEW+317.9K317.9K+$18M$18M
AMATAPPLIED MATLS INCNEW+288.0K288.0K+$13M$13M
MLMMARTIN MARIETTA MATLS INCNEW+37.0K37.0K+$7M$7M
AOSSMITH A O CORPNEW+176.3K176.3K+$7M$7M
AVBAVALONBAY CMNTYS INCNEW+43.9K43.9K+$6M$6M
MKSIMKS INSTRS INCNEW+69.4K69.4K+$6M$6M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2020

60 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TRVTRAVELERS COMPANIES INChistory →COM8.31%$240M2.41M
2XRAYDENTSPLY SIRONA INChistory →COM7.66%$221M5.69M
3WABCO HLDGS INCCOM7.52%$217M1.61M
4CBCHUBB LIMITEDhistory →COM5.67%$164M1.47M
5SNNSMITH & NEPHEW GROUP PLChistory →SPDN ADR NEW5.07%$146M4.08M
6APHAMPHENOL CORP NEWhistory →CL A4.93%$142M1.95M
7MMSIMERIT MED SYS INChistory →COM4.59%$132M4.23M
8SCHWSCHWAB CHARLES CORPhistory →COM4.33%$125M3.71M
9DEODIAGEO P L Chistory →SPON ADR NEW4.28%$123M970.6K
10WTRGESSENTIAL UTILS INCUNIT 04/30/2022 · COM4.16%$120M2.52M
11NTRSNORTHERN TR CORPhistory →COM4.16%$120M1.59M
12SANDERSON FARMS INCCOM4.04%$116M944.3K
13ICUIICU MED INChistory →COM3.68%$106M526.0K
14EQUITY COMWLTHCOM SH BEN INT2.66%$77M2.42M
15MMM3M COhistory →COM2.41%$70M509.9K
16RGAREINSURANCE GRP OF AMERICA Ihistory →COM NEW2.37%$68M814.0K
17GMEDGLOBUS MED INChistory →CL A2.28%$66M1.55M
18METMETLIFE INChistory →COM2.22%$64M2.09M
19LNNLINDSAY CORPhistory →COM2.16%$62M679.6K
20CALMCAL MAINE FOODS INChistory →COM NEW1.87%$54M1.23M
21HTOSJW GROUPhistory →COM1.56%$45M777.3K
22WRIGHT MED GROUP N VORD SHS1.11%$32M1.11M
23VLYVALLEY NATL BANCORPhistory →COM1.08%$31M4.27M
24ABBNYABB LTDhistory →SPONSORED ADR1.05%$30M1.75M
25NVSTENVISTA HOLDINGS CORPORATIONhistory →COM1.00%$29M1.92M
26GOOGLALPHABET INChistory →CAP STK CL A0.96%$28M23.7K
27MWAMUELLER WTR PRODS INChistory →COM SER A0.95%$27M3.42M
28ONON SEMICONDUCTOR CORPhistory →COM0.86%$25M1.99M
29EGEVEREST RE GROUP LTDhistory →COM0.82%$24M122.3K
30ATRAPTARGROUP INChistory →COM0.65%$19M187.8K
31CFRCULLEN FROST BANKERS INChistory →COM0.62%$18M317.9K
32AMTTD AMERITRADE HLDG CORPhistory →COM0.48%$14M398.7K
33AMATAPPLIED MATLS INChistory →COM0.46%$13M288.0K
34CWTCALIFORNIA WTR SVC GROUPhistory →COM0.45%$13M258.8K
35CALAVO GROWERS INCCOM0.43%$12M214.2K
36UMBFUMB FINL CORPhistory →COM0.39%$11M242.8K
37SYKSTRYKER CORPCOM0.25%$7M42.7K
38MLMMARTIN MARIETTA MATLS INCCOM0.24%$7M37.0K
39AWKAMERICAN WTR WKS CO INC NEWCOM0.23%$7M56.2K
40AOSSMITH A O CORPCOM0.23%$7M176.3K
41WERNWERNER ENTERPRISES INCCOM0.23%$7M180.0K
42GGGGRACO INCCOM0.22%$6M133.0K
43AVBAVALONBAY CMNTYS INCCOM0.22%$6M43.9K
44WRBBERKLEY W R CORPCOM0.21%$6M116.2K
45UHSUNIVERSAL HLTH SVCS INCCL B0.20%$6M59.2K
46MKSIMKS INSTRS INCCOM0.20%$6M69.4K
47TOWNEBANK PORTSMOUTH VACOM0.19%$5M298.3K
48IWSISHARES TRRUS MDCP VAL ETF · S&P MC 400VL ETF0.08%$2M34.5K
49JNJJOHNSON & JOHNSONCOM0.06%$2M13.6K
50ABTABBOTT LABSCOM0.03%$940,00011.9K
51AMZNAMAZON COM INCCOM0.03%$850,000436
52LFUSLITTELFUSE INCCOM0.02%$611,0004.6K
53MDTMEDTRONIC PLCSHS0.02%$610,0006.8K
54ACNACCENTURE PLC IRELANDSHS CLASS A0.02%$577,0003.5K
55XYLXYLEM INCCOM0.02%$571,0008.8K
56BDXBECTON DICKINSON & COCOM0.02%$554,0002.4K
57RAYTHEON COCOM NEW0.02%$520,0004.0K
58RJFRAYMOND JAMES FINANCIAL INCCOM0.02%$498,0007.9K
59BAXBAXTER INTL INCCOM0.01%$292,0003.6K
60TXNTEXAS INSTRS INCCOM0.01%$243,0002.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$717M43May 8, 202613F-HRchanges · EDGAR ↗
Q4 2025$908M45Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$982M46Nov 6, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.3B46Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.5B49May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.5B53Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.0B48Nov 8, 202413F-HRchanges · EDGAR ↗
Q2 2024$3.3B48Aug 8, 202413F-HRchanges · EDGAR ↗
Q1 2024$3.8B49May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$4.4B47Feb 7, 202413F-HRchanges · EDGAR ↗
Q3 2023$4.1B48Nov 8, 202313F-HRchanges · EDGAR ↗
Q2 2023$4.7B52Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$4.7B51May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$4.8B56Feb 8, 202313F-HRchanges · EDGAR ↗
Q3 2022$4.5B55Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$5.0B52Aug 8, 202213F-HRchanges · EDGAR ↗
Q1 2022$5.6B55May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$5.7B54Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$5.5B55Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$5.6B57Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$5.4B54May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$5.2B57Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$4.3B53Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$3.9B60Aug 7, 202013F-HRchanges · EDGAR ↗
Q1 2020$2.9B62May 12, 202013F-HRchanges · EDGAR ↗
Q4 2019$3.1B58Feb 11, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.7B56Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.4B57Aug 12, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.9B54May 13, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.5B58Feb 13, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.