Jensen Investment

Q3 2021 13F · by Robert McIver, CEO

As of: Sep 30, 2021
Filed: Nov 12, 2021
US stock: $12.6B · prev $13.2B
Positions: 77 · prev 76
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%

Moves66 since the prior filing

+9.4 pp in · −9.5 pp out

New 3 +6.91 pp
Added 32 +2.52 pp
Trimmed 29 −2.49 pp
Exited 2 −6.96 pp

The book

Focused · behaves like 25 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 34% a year, about 2.9 years per position

Low
Moderate
High

Top 5 positions30% of US stock

MSFT Microsoft Corp trimmed−0.05 pp trimmed−0.057.2%
GOOGL Alphabet Inc. Class A new+6.89 pp new+6.896.9%
PEP PepsiCo, Inc. trimmed−0.01 pp trimmed−0.016.0%
JNJ Johnson & Johnson trimmed−0.30 pp trimmed−0.305.2%
SYK Stryker Corporation trimmed0.00 pp trimmed0.004.8%

Positions77 in this filing · 2 exited


MSFTMicrosoft Corp	7.19%	3,220,728	$908M	trimmed−9%	−0.05 pp	34 q
GOOGLAlphabet Inc. Class A	6.89%	325,165	$869M	new	+6.89 pp	new
PEPPepsiCo, Inc.	6.00%	5,031,471	$757M	trimmed−6%	−0.01 pp	34 q
JNJJohnson & Johnson	5.17%	4,040,939	$653M	trimmed−8%	−0.30 pp	34 q
SYKStryker Corporation	4.82%	2,307,688	$609M	trimmed−6%	0.00 pp	34 q
AAPLApple Inc.	4.58%	4,085,752	$578M	trimmed−6%	+0.07 pp	26 q
MMM3M Company	4.54%	3,270,347	$574M	trimmed−6%	−0.69 pp	34 q
BDXBecton, Dickinson and Co.	4.48%	2,298,860	$565M	trimmed−15%	−0.49 pp	34 q
ACNAccenture PLC	4.48%	1,768,616	$566M	trimmed−15%	−0.15 pp	34 q
NKENike, Inc.	4.04%	3,512,143	$510M	trimmed−6%	−0.33 pp	34 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	3.93%	1,270,166	$496M	trimmed−6%	−0.18 pp	34 q
PFEPfizer Inc.	3.63%	10,663,856	$459M	trimmed−6%	+0.26 pp	14 q
INTUIntuit Inc	3.57%	835,629	$451M	trimmed−19%	−0.27 pp	17 q
ADPAutomatic Data Processing	3.50%	2,207,485	$441M	added+5%	+0.36 pp	34 q
SBUXStarbucks Corp	2.98%	3,410,448	$376M	trimmed−6%	−0.09 pp	6 q
CTSHCognizant Technology Solutions	2.95%	5,015,466	$372M	trimmed−6%	+0.15 pp	34 q
PGProcter & Gamble Company	2.59%	2,336,902	$327M	added+6%	+0.34 pp	34 q
EFXEquifax, Incorporated	2.51%	1,249,178	$317M	trimmed−5%	+0.12 pp	34 q
HDHome Depot, Inc.	2.45%	942,943	$310M	trimmed−6%	+0.03 pp	5 q
BRBroadridge Financial Solutions Inc	2.32%	1,755,253	$292M	trimmed−10%	−0.06 pp	18 q
TXNTexas Instruments Incorporated	2.27%	1,489,137	$286M	trimmed−6%	−0.04 pp	12 q
MAMastercard Incorporated	2.02%	734,752	$255M	trimmed−6%	−0.14 pp	25 q
WMWaste Management, Inc.	2.01%	1,697,962	$254M	trimmed−6%	+0.09 pp	5 q
TJXTJX Companies, Inc. (The)	1.92%	3,675,570	$243M	added+7%	+0.17 pp	34 q
UPSUnited Parcel Service, Inc. Class B	1.78%	1,236,126	$225M	trimmed−10%	−0.39 pp	34 q
GISGeneral Mills, Inc.	1.49%	3,141,958	$188M	trimmed−6%	−0.05 pp	26 q
MRSHMarsh	1.44%	1,196,760	$181M	added+1%	+0.18 pp	2 q
VRSKVerisk Analytics, Inc.	1.20%	755,102	$151M	added+1%	+0.21 pp	5 q
APHAmphenol Corporation	1.07%	1,836,377	$134M	added×13.1	+1.00 pp	34 q
ADBEAdobe Inc.	0.21%	45,567	$26M	held	—	34 q
ORCLOracle Corp	0.13%	183,720	$16M	held	—	34 q
WATWaters Corp	0.13%	47,237	$17M	trimmed−0%	+0.01 pp	34 q
ECLEcolab, Inc.	0.12%	75,137	$16M	held	—	34 q
ABTAbbott Laboratories	0.10%	107,525	$13M	trimmed−0%	+0.01 pp	34 q
EMREmerson Electric Co.	0.08%	102,137	$10M	trimmed−0%	+0.01 pp	34 q
CLColgate-Palmolive Company	0.06%	102,499	$8M	held	—	34 q
CPRTCopart Inc	0.06%	50,890	$7M	added+16%	+0.02 pp	7 q
FDSFactset Research Systems	0.06%	19,310	$8M	added+21%	+0.02 pp	3 q
OMCOmnicom Group Inc.	0.06%	96,764	$7M	trimmed−1%	0.00 pp	34 q
BBYBest Buy Company, Inc.	0.05%	54,250	$6M	added+36%	+0.02 pp	30 q
KOCoca-Cola Company	0.05%	131,804	$7M	held	—	34 q
CCKCrown Holdings Inc.	0.05%	66,290	$7M	added+29%	+0.01 pp	24 q
EHCEncompass Health Corporation	0.05%	90,160	$7M	added+44%	+0.01 pp	16 q
EXPDExpeditors International of Washington, Inc.	0.05%	50,380	$6M	added+21%	+0.01 pp	20 q
GPCGenuine Parts Company	0.05%	54,840	$7M	added+39%	+0.01 pp	28 q
HASHasbro, Inc.	0.05%	71,220	$6M	added+29%	+0.01 pp	16 q
99803EURLaboratory Crp Of Amer Hldgs	0.05%	24,490	$7M	added+21%	+0.01 pp	10 q
MCHPMicrochip Technology Inc	0.05%	41,780	$6M	added+26%	+0.01 pp	5 q
TROWT Rowe Price Group Inc	0.05%	32,361	$6M	held	—	34 q
CHDChurch & Dwight Co., Inc.	0.04%	63,350	$5M	added+72%	+0.02 pp	7 q
CLXClorox Company	0.04%	29,000	$5M	held	—	34 q
FFIVF5, Inc.	0.04%	23,090	$5M	added+48%	+0.02 pp	8 q
GNTXGentex Corp	0.04%	140,500	$5M	added+43%	+0.02 pp	2 q
KRThe Kroger Co.	0.04%	139,910	$6M	added+41%	+0.01 pp	21 q
LSTRLandstar System Inc	0.04%	30,430	$5M	added+35%	+0.01 pp	28 q
SMGThe Scotts Miracle-Gro Company	0.04%	37,060	$5M	added×3.7	+0.03 pp	17 q
CBRECbre Group, Inc.	0.03%	43,920	$4M	held	—	16 q
LIILennox International Inc.	0.03%	12,830	$4M	added+21%	0.00 pp	13 q
LEVILevi Strauss & Co. Class A	0.03%	179,320	$4M	added+55%	+0.01 pp	6 q
PAYXPaychex Inc	0.03%	33,450	$4M	added+14%	+0.01 pp	34 q
ABBVAbbvie Inc.	0.02%	24,157	$3M	trimmed−0%	0.00 pp	34 q
CPBThe Campbell's Company	0.02%	57,180	$2M	added+21%	0.00 pp	21 q
CRICarter's Inc.	0.02%	31,110	$3M	added+21%	0.00 pp	12 q
DCIDonaldson Company, Inc.	0.02%	37,070	$2M	trimmed−14%	0.00 pp	9 q
KELKellanova	0.02%	46,840	$3M	added+22%	0.00 pp	8 q
MMSMAXIMUS, Inc.	0.02%	35,660	$3M	added+21%	0.00 pp	5 q
MLKNMillerKnoll, Inc.	0.02%	80,340	$3M	added+21%	0.00 pp	23 q
RTXRTX Corporation	0.02%	23,350	$2M	held	—	34 q
TSCOTractor Supply Co	0.02%	13,570	$3M	added+23%	0.00 pp	17 q
BMYBristol-Myers Squibb Co.	0.01%	26,375	$2M	held	—	27 q
GWWW.W. Grainger, Inc.	0.01%	2,850	$1M	held	—	20 q
ONON Semiconductor Corp	0.01%	28,031	$1M	held	—	16 q
POOLPool Corporation	0.01%	3,670	$2M	new	+0.01 pp	new
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.01%	11,180	$1M	added+14%	0.00 pp	6 q
URIUnited Rentals, Inc.	0.01%	4,370	$2M	new	+0.01 pp	new
99952EURLinde PLC/OLD	0.01%	4,220	$1M	trimmed−1%	0.00 pp	12 q
RSReliance, Inc.	0.00%	2,056	$293,000	held	—	26 q
unresolvedGoogle Inc.	—	−374,990	—	exited	−6.92 pp	—
HRCHill-rom Holdings, Inc.	—	−48,940	—	exited	−0.04 pp	—