Jensen Investment

Q4 2020 13F · by Robert McIver, CEO

As of: Dec 31, 2020
Filed: Feb 8, 2021
US stock: $12.1B · prev $11.3B
Positions: 76 · prev 78
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves69 since the prior filing

+4.0 pp in · −4.0 pp out

New 0 0.00 pp
Added 51 +3.99 pp
Trimmed 16 −3.97 pp
Exited 2 −0.01 pp

The book

Focused · behaves like 23 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 4.9% a year, about 20.4 years per position

Low
Moderate
High

Top 5 positions31% of US stock

MSFT Microsoft Corp added−0.05 pp added−0.057.1%
PEP PepsiCo, Inc. added+0.04 pp added+0.046.5%
GOOGL Alphabet Inc. Class A added+0.69 pp added+0.696.2%
JNJ Johnson & Johnson added−0.04 pp added−0.045.7%
BDX Becton, Dickinson and Co. added+0.06 pp added+0.065.6%

Positions76 in this filing · 2 exited


MSFTMicrosoft Corp	7.08%	3,842,457	$855M	added0%	−0.05 pp	31 q
PEPPepsiCo, Inc.	6.54%	5,322,282	$789M	added0%	+0.04 pp	31 q
GOOGLAlphabet Inc. Class A	6.24%	429,507	$753M	added0%	+0.69 pp	18 q
JNJJohnson & Johnson	5.66%	4,337,501	$683M	added0%	−0.04 pp	31 q
BDXBecton, Dickinson and Co.	5.56%	2,681,231	$671M	added0%	+0.06 pp	31 q
MMM3M Company	5.01%	3,460,042	$605M	added0%	+0.12 pp	31 q
SYKStryker Corporation	4.95%	2,435,808	$597M	added+1%	+0.48 pp	31 q
AAPLApple Inc.	4.79%	4,357,497	$578M	trimmed−4%	+0.14 pp	23 q
ACNAccenture PLC	4.64%	2,146,080	$561M	trimmed−9%	−0.06 pp	31 q
NKENike, Inc.	4.36%	3,723,840	$527M	trimmed−14%	−0.43 pp	31 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.13%	1,421,649	$499M	added0%	+0.22 pp	31 q
CTSHCognizant Technology Solutions	3.60%	5,307,556	$435M	added0%	+0.35 pp	31 q
INTUIntuit Inc	3.43%	1,089,007	$414M	added0%	+0.30 pp	14 q
PFEPfizer Inc.	3.42%	11,223,611	$413M	added0%	−0.21 pp	11 q
GISGeneral Mills, Inc.	3.24%	6,660,181	$392M	added+1%	−0.38 pp	23 q
SBUXStarbucks Corp	2.67%	3,014,664	$323M	added+1%	+0.39 pp	3 q
ADPAutomatic Data Processing	2.65%	1,815,295	$320M	added0%	+0.42 pp	31 q
MAMastercard Incorporated	2.48%	838,650	$299M	added0%	−0.02 pp	22 q
EFXEquifax, Incorporated	2.45%	1,534,741	$296M	added+1%	+0.33 pp	31 q
BRBroadridge Financial Solutions Inc	2.44%	1,923,880	$295M	added+1%	+0.21 pp	15 q
HDHome Depot, Inc.	2.19%	993,325	$264M	added+23%	+0.20 pp	2 q
TXNTexas Instruments Incorporated	2.14%	1,575,249	$259M	added0%	+0.16 pp	9 q
UPSUnited Parcel Service, Inc. Class B	2.03%	1,451,795	$244M	trimmed−34%	−1.22 pp	31 q
PGProcter & Gamble Company	1.99%	1,723,529	$240M	trimmed−8%	−0.32 pp	31 q
TJXTJX Companies, Inc. (The)	1.93%	3,418,747	$233M	added0%	+0.25 pp	31 q
VFCV.F. Corporation	1.36%	1,927,976	$165M	trimmed−49%	−0.97 pp	8 q
WMWaste Management, Inc.	1.26%	1,294,094	$153M	added+31%	+0.27 pp	2 q
ADBEAdobe Inc.	0.19%	46,407	$23M	trimmed−1%	−0.01 pp	31 q
ECLEcolab, Inc.	0.14%	75,966	$16M	trimmed−0%	+0.01 pp	31 q
ABTAbbott Laboratories	0.10%	109,425	$12M	added0%	−0.01 pp	31 q
ORCLOracle Corp	0.10%	192,283	$12M	held	—	31 q
WATWaters Corp	0.10%	49,692	$12M	trimmed−1%	+0.01 pp	31 q
APHAmphenol Corporation	0.08%	75,451	$10M	trimmed−90%	−0.64 pp	31 q
CLColgate-Palmolive Company	0.07%	104,499	$9M	held	—	31 q
EMREmerson Electric Co.	0.07%	105,662	$8M	trimmed−12%	0.00 pp	31 q
KOCoca-Cola Company	0.06%	134,930	$7M	held	—	31 q
OMCOmnicom Group Inc.	0.06%	120,866	$8M	trimmed−90%	−0.47 pp	31 q
CLXClorox Company	0.05%	29,000	$6M	held	—	31 q
TROWT Rowe Price Group Inc	0.04%	32,436	$5M	held	—	31 q
CPRTCopart Inc	0.03%	25,310	$3M	added+40%	+0.01 pp	4 q
CCKCrown Holdings Inc.	0.03%	35,150	$4M	added+12%	+0.01 pp	21 q
EHCEncompass Health Corporation	0.03%	40,980	$3M	added+12%	+0.01 pp	13 q
EXPDExpeditors International of Washington, Inc.	0.03%	36,480	$3M	added+70%	+0.01 pp	17 q
GPCGenuine Parts Company	0.03%	31,940	$3M	added+53%	+0.01 pp	25 q
99803EURLaboratory Crp Of Amer Hldgs	0.03%	17,010	$3M	added+53%	+0.01 pp	7 q
MCHPMicrochip Technology Inc	0.03%	22,180	$3M	added×2.2	+0.02 pp	2 q
ABBVAbbvie Inc.	0.02%	25,457	$3M	added0%	0.00 pp	31 q
BBYBest Buy Company, Inc.	0.02%	24,330	$2M	added+61%	+0.01 pp	27 q
CBRECbre Group, Inc.	0.02%	40,970	$3M	added+1%	0.00 pp	13 q
CPBThe Campbell's Company	0.02%	44,990	$2M	added+28%	0.00 pp	18 q
CRICarter's Inc.	0.02%	20,680	$2M	added+37%	+0.01 pp	9 q
CHDChurch & Dwight Co., Inc.	0.02%	24,760	$2M	added+70%	+0.01 pp	4 q
DCIDonaldson Company, Inc.	0.02%	36,910	$2M	added+10%	+0.01 pp	6 q
FFIVF5, Inc.	0.02%	13,100	$2M	added+6%	+0.01 pp	5 q
HASHasbro, Inc.	0.02%	29,350	$3M	added+61%	+0.01 pp	13 q
HRCHill-rom Holdings, Inc.	0.02%	30,700	$3M	added+34%	0.00 pp	4 q
KELKellanova	0.02%	32,970	$2M	added+30%	+0.01 pp	5 q
KRThe Kroger Co.	0.02%	80,940	$3M	added+89%	+0.01 pp	18 q
LSTRLandstar System Inc	0.02%	20,750	$3M	added+77%	+0.01 pp	25 q
LIILennox International Inc.	0.02%	9,490	$3M	added+21%	0.00 pp	10 q
LEVILevi Strauss & Co. Class A	0.02%	115,700	$2M	added+10%	+0.01 pp	3 q
MMSMAXIMUS, Inc.	0.02%	29,880	$2M	added+79%	+0.01 pp	2 q
ONON Semiconductor Corp	0.02%	64,011	$2M	trimmed−22%	0.00 pp	13 q
PAYXPaychex Inc	0.02%	29,370	$3M	added+1%	0.00 pp	31 q
RTXRTX Corporation	0.02%	26,723	$2M	trimmed−24%	0.00 pp	31 q
BMYBristol-Myers Squibb Co.	0.01%	27,175	$2M	held	—	24 q
GWWW.W. Grainger, Inc.	0.01%	3,700	$2M	held	—	17 q
MLKNMillerKnoll, Inc.	0.01%	29,460	$996,000	added+50%	0.00 pp	20 q
NTAPNetApp, Inc	0.01%	17,400	$1M	held	—	13 q
SMGThe Scotts Miracle-Gro Company	0.01%	6,710	$1M	held	—	14 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.01%	8,090	$882,000	added+21%	+0.01 pp	3 q
TDCTeradata Corporation	0.01%	39,080	$878,000	added+12%	0.00 pp	27 q
TSCOTractor Supply Co	0.01%	10,090	$1M	added+6%	0.00 pp	14 q
VRSKVerisk Analytics, Inc.	0.01%	4,110	$853,000	added+73%	+0.01 pp	2 q
99952EURLinde PLC/OLD	0.01%	4,590	$1M	trimmed−43%	−0.01 pp	9 q
RSReliance, Inc.	0.00%	2,916	$349,000	trimmed−31%	0.00 pp	23 q
XLNXXilinx Inc	—	−8,760	—	exited	−0.01 pp	—
MDTMedtronic plc	—	−5,090	—	exited	0.00 pp	—