Jensen Investment

Q4 2021 13F · by Robert McIver, CEO

As of: Dec 31, 2021
Filed: Feb 11, 2022
US stock: $14.2B · prev $12.6B
Positions: 78 · prev 77
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%

Moves61 since the prior filing

−0.0 pp in · 0.0 pp out

New 1 +0.01 pp
Added 24 −0.03 pp
Trimmed 36 +0.05 pp
Exited 0 0.00 pp

The book

Focused · behaves like 25 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 4.4% a year, about 22.9 years per position

Low
Moderate
High

Top 5 positions30% of US stock

Positions78 in this filing · 0 exited


MSFTMicrosoft Corp	6.96%	2,942,667	$990M	trimmed−9%	−0.23 pp	35 q
GOOGLAlphabet Inc. Class A	6.57%	322,732	$935M	trimmed−1%	−0.32 pp	2 q
PEPPepsiCo, Inc.	6.11%	5,001,598	$869M	trimmed−1%	+0.11 pp	35 q
AAPLApple Inc.	5.06%	4,053,569	$720M	trimmed−1%	+0.48 pp	27 q
JNJJohnson & Johnson	4.82%	4,011,669	$686M	trimmed−1%	−0.35 pp	35 q
ACNAccenture PLC	4.70%	1,612,614	$669M	trimmed−9%	+0.22 pp	35 q
SYKStryker Corporation	4.55%	2,422,842	$648M	added+5%	−0.27 pp	35 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.45%	1,262,066	$634M	trimmed−1%	+0.52 pp	35 q
NKENike, Inc.	4.09%	3,487,431	$581M	trimmed−1%	+0.05 pp	35 q
MMM3M Company	4.06%	3,251,167	$578M	trimmed−1%	−0.48 pp	35 q
BDXBecton, Dickinson and Co.	4.04%	2,282,640	$574M	trimmed−1%	−0.44 pp	35 q
PFEPfizer Inc.	4.00%	9,634,399	$569M	trimmed−10%	+0.37 pp	15 q
ADPAutomatic Data Processing	3.80%	2,192,250	$541M	trimmed−1%	+0.30 pp	35 q
INTUIntuit Inc	3.31%	732,589	$471M	trimmed−12%	−0.26 pp	18 q
CTSHCognizant Technology Solutions	3.10%	4,976,601	$442M	trimmed−1%	+0.15 pp	35 q
SBUXStarbucks Corp	2.88%	3,503,605	$410M	added+3%	−0.10 pp	7 q
PGProcter & Gamble Company	2.67%	2,320,312	$380M	trimmed−1%	+0.08 pp	35 q
EFXEquifax, Incorporated	2.55%	1,240,583	$363M	trimmed−1%	+0.04 pp	35 q
HDHome Depot, Inc.	2.45%	840,343	$349M	trimmed−11%	0.00 pp	6 q
MAMastercard Incorporated	2.25%	891,064	$320M	added+21%	+0.23 pp	26 q
BRBroadridge Financial Solutions Inc	2.15%	1,671,728	$306M	trimmed−5%	−0.17 pp	19 q
TXNTexas Instruments Incorporated	2.05%	1,546,965	$292M	added+4%	−0.22 pp	13 q
TJXTJX Companies, Inc. (The)	1.95%	3,646,700	$277M	trimmed−1%	+0.03 pp	35 q
WMWaste Management, Inc.	1.90%	1,623,322	$271M	trimmed−4%	−0.11 pp	6 q
UPSUnited Parcel Service, Inc. Class B	1.85%	1,227,220	$263M	trimmed−1%	+0.07 pp	35 q
MRSHMarsh	1.69%	1,381,575	$240M	added+15%	+0.25 pp	3 q
GISGeneral Mills, Inc.	1.50%	3,169,850	$214M	added+1%	+0.01 pp	27 q
VRSKVerisk Analytics, Inc.	1.21%	749,562	$171M	trimmed−1%	+0.01 pp	6 q
APHAmphenol Corporation	1.12%	1,823,607	$159M	trimmed−1%	+0.05 pp	35 q
ADBEAdobe Inc.	0.18%	45,467	$26M	trimmed−0%	−0.03 pp	35 q
ECLEcolab, Inc.	0.12%	74,952	$18M	trimmed−0%	0.00 pp	35 q
WATWaters Corp	0.12%	47,152	$18M	trimmed−0%	−0.01 pp	35 q
ABTAbbott Laboratories	0.11%	107,025	$15M	trimmed−0%	+0.01 pp	35 q
ORCLOracle Corp	0.11%	183,320	$16M	trimmed−0%	−0.02 pp	35 q
EMREmerson Electric Co.	0.07%	102,137	$9M	held	—	35 q
CLColgate-Palmolive Company	0.06%	102,499	$9M	held	—	35 q
FDSFactset Research Systems	0.06%	16,280	$8M	trimmed−16%	0.00 pp	4 q
GPCGenuine Parts Company	0.06%	56,240	$8M	added+3%	+0.01 pp	29 q
99803EURLaboratory Crp Of Amer Hldgs	0.06%	25,400	$8M	added+4%	+0.01 pp	11 q
CHDChurch & Dwight Co., Inc.	0.05%	75,370	$8M	added+19%	+0.01 pp	8 q
KOCoca-Cola Company	0.05%	130,759	$8M	trimmed−1%	0.00 pp	35 q
CPRTCopart Inc	0.05%	50,890	$8M	held	—	8 q
CCKCrown Holdings Inc.	0.05%	68,050	$8M	added+3%	0.00 pp	25 q
EHCEncompass Health Corporation	0.05%	99,250	$6M	added+10%	0.00 pp	17 q
EXPDExpeditors International of Washington, Inc.	0.05%	50,380	$7M	held	—	21 q
FFIVF5, Inc.	0.05%	27,580	$7M	added+19%	+0.01 pp	9 q
HASHasbro, Inc.	0.05%	74,030	$8M	added+4%	0.00 pp	17 q
KRThe Kroger Co.	0.05%	150,490	$7M	added+8%	+0.01 pp	22 q
MCHPMicrochip Technology Inc	0.05%	83,560	$7M	held	—	6 q
OMCOmnicom Group Inc.	0.05%	93,764	$7M	trimmed−3%	−0.01 pp	35 q
SMGThe Scotts Miracle-Gro Company	0.05%	46,260	$7M	added+25%	+0.01 pp	18 q
BBYBest Buy Company, Inc.	0.04%	62,830	$6M	added+16%	−0.01 pp	31 q
CLXClorox Company	0.04%	29,000	$5M	held	—	35 q
LSTRLandstar System Inc	0.04%	30,430	$5M	held	—	29 q
LEVILevi Strauss & Co. Class A	0.04%	238,800	$6M	added+33%	+0.01 pp	7 q
TROWT Rowe Price Group Inc	0.04%	32,361	$6M	held	—	35 q
CBRECbre Group, Inc.	0.03%	36,120	$4M	trimmed−18%	0.00 pp	17 q
GNTXGentex Corp	0.03%	140,500	$5M	held	—	3 q
LIILennox International Inc.	0.03%	12,830	$4M	held	—	14 q
PAYXPaychex Inc	0.03%	33,450	$5M	held	—	35 q
ABBVAbbvie Inc.	0.02%	23,657	$3M	trimmed−2%	0.00 pp	35 q
CPBThe Campbell's Company	0.02%	61,430	$3M	added+7%	0.00 pp	22 q
CRICarter's Inc.	0.02%	32,910	$3M	added+6%	0.00 pp	13 q
DCIDonaldson Company, Inc.	0.02%	37,070	$2M	held	—	10 q
KELKellanova	0.02%	49,750	$3M	added+6%	0.00 pp	9 q
MMSMAXIMUS, Inc.	0.02%	38,120	$3M	added+7%	0.00 pp	6 q
MLKNMillerKnoll, Inc.	0.02%	85,270	$3M	added+6%	0.00 pp	24 q
TSCOTractor Supply Co	0.02%	13,570	$3M	held	—	18 q
URIUnited Rentals, Inc.	0.02%	6,670	$2M	added+53%	+0.01 pp	2 q
BMYBristol-Myers Squibb Co.	0.01%	26,375	$2M	held	—	28 q
GWWW.W. Grainger, Inc.	0.01%	2,490	$1M	trimmed−13%	0.00 pp	21 q
ONON Semiconductor Corp	0.01%	13,441	$913,000	trimmed−52%	0.00 pp	17 q
POOLPool Corporation	0.01%	3,670	$2M	held	—	2 q
RTXRTX Corporation	0.01%	22,350	$2M	trimmed−4%	−0.01 pp	35 q
RMDResMed Inc.	0.01%	7,960	$2M	new	+0.01 pp	new
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.01%	12,980	$2M	added+16%	0.00 pp	7 q
99952EURLinde PLC/OLD	0.01%	4,220	$1M	held	—	13 q
RSReliance, Inc.	0.00%	2,056	$334,000	held	—	27 q