Jensen Investment

Q1 2022 13F · by Robert McIver, CEO

As of: Mar 31, 2022
Filed: May 10, 2022
US stock: $13.4B · prev $14.2B
Positions: 80 · 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%

Moves74 since the prior filing

+1.5 pp in · −1.5 pp out

New 4 +1.39 pp
Added 53 +0.12 pp
Trimmed 15 −1.44 pp
Exited 2 −0.02 pp

The book

Focused · behaves like 25 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 11% a year, about 8.8 years per position

Low
Moderate
High

Top 5 positions30% of US stock

Positions80 in this filing · 2 exited


MSFTMicrosoft Corp	6.80%	2,956,142	$911M	added0%	−0.16 pp	36 q
GOOGLAlphabet Inc. Class A	6.74%	325,012	$904M	added+1%	+0.17 pp	3 q
PEPPepsiCo, Inc.	6.29%	5,033,761	$843M	added+1%	+0.18 pp	36 q
AAPLApple Inc.	5.32%	4,082,865	$713M	added+1%	+0.26 pp	28 q
JNJJohnson & Johnson	4.88%	3,694,332	$655M	trimmed−8%	+0.06 pp	36 q
SYKStryker Corporation	4.87%	2,439,668	$652M	added+1%	+0.32 pp	36 q
ACNAccenture PLC	4.43%	1,759,010	$593M	added+9%	−0.27 pp	36 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.37%	1,149,701	$586M	trimmed−9%	−0.08 pp	36 q
NKENike, Inc.	4.24%	4,222,897	$568M	added+21%	+0.15 pp	36 q
BDXBecton, Dickinson and Co.	4.10%	2,064,286	$549M	trimmed−10%	+0.06 pp	36 q
ADPAutomatic Data Processing	3.75%	2,207,324	$502M	added+1%	−0.05 pp	36 q
PFEPfizer Inc.	3.75%	9,707,973	$503M	added+1%	−0.25 pp	16 q
MMM3M Company	3.64%	3,275,285	$488M	added+1%	−0.42 pp	36 q
CTSHCognizant Technology Solutions	3.35%	5,011,274	$449M	added+1%	+0.25 pp	36 q
INTUIntuit Inc	2.88%	802,864	$386M	added+10%	−0.43 pp	19 q
SBUXStarbucks Corp	2.86%	4,220,525	$384M	added+20%	−0.02 pp	8 q
PGProcter & Gamble Company	2.66%	2,334,869	$357M	added+1%	−0.01 pp	36 q
MAMastercard Incorporated	2.64%	990,816	$354M	added+11%	+0.39 pp	27 q
TXNTexas Instruments Incorporated	2.39%	1,749,675	$321M	added+13%	+0.34 pp	14 q
EFXEquifax, Incorporated	2.32%	1,313,574	$311M	added+6%	−0.23 pp	36 q
MRSHMarsh	2.03%	1,598,315	$272M	added+16%	+0.34 pp	4 q
UPSUnited Parcel Service, Inc. Class B	1.98%	1,235,235	$265M	added+1%	+0.13 pp	36 q
HDHome Depot, Inc.	1.97%	881,696	$264M	added+5%	−0.48 pp	7 q
BRBroadridge Financial Solutions Inc	1.96%	1,684,618	$262M	added+1%	−0.19 pp	20 q
WMWaste Management, Inc.	1.93%	1,630,853	$258M	added0%	+0.03 pp	7 q
TJXTJX Companies, Inc. (The)	1.87%	4,146,825	$251M	added+14%	−0.08 pp	36 q
MCOMoody's Corporation	1.29%	513,165	$173M	new	+1.29 pp	new
VRSKVerisk Analytics, Inc.	1.21%	756,763	$162M	added+1%	0.00 pp	7 q
APHAmphenol Corporation	1.03%	1,840,772	$139M	added+1%	−0.09 pp	36 q
ADBEAdobe Inc.	0.15%	44,972	$20M	trimmed−1%	−0.03 pp	36 q
ORCLOracle Corp	0.11%	179,260	$15M	trimmed−2%	0.00 pp	36 q
WATWaters Corp	0.11%	46,867	$15M	trimmed−1%	−0.01 pp	36 q
ECLEcolab, Inc.	0.10%	74,637	$13M	trimmed−0%	−0.02 pp	36 q
ABTAbbott Laboratories	0.09%	107,025	$13M	held	—	36 q
CHDChurch & Dwight Co., Inc.	0.07%	88,210	$9M	added+17%	+0.02 pp	9 q
CCKCrown Holdings Inc.	0.07%	76,360	$10M	added+12%	+0.02 pp	26 q
EMREmerson Electric Co.	0.07%	102,137	$10M	held	—	36 q
EHCEncompass Health Corporation	0.07%	126,480	$9M	added+27%	+0.02 pp	18 q
GISGeneral Mills, Inc.	0.07%	136,555	$9M	trimmed−96%	−1.43 pp	28 q
MCHPMicrochip Technology Inc	0.07%	116,100	$9M	added+39%	+0.02 pp	7 q
BBYBest Buy Company, Inc.	0.06%	88,690	$8M	added+41%	+0.02 pp	32 q
KOCoca-Cola Company	0.06%	130,759	$8M	held	—	36 q
CLColgate-Palmolive Company	0.06%	102,499	$8M	held	—	36 q
CPRTCopart Inc	0.06%	65,760	$8M	added+29%	+0.01 pp	9 q
FDSFactset Research Systems	0.06%	17,850	$8M	added+10%	0.00 pp	5 q
GPCGenuine Parts Company	0.06%	67,690	$9M	added+20%	0.00 pp	30 q
HASHasbro, Inc.	0.06%	92,830	$8M	added+25%	+0.01 pp	18 q
KRThe Kroger Co.	0.06%	146,990	$8M	trimmed−2%	+0.01 pp	23 q
99803EURLaboratory Crp Of Amer Hldgs	0.06%	31,270	$8M	added+23%	0.00 pp	12 q
OMCOmnicom Group Inc.	0.06%	91,764	$8M	trimmed−2%	+0.01 pp	36 q
EXPDExpeditors International of Washington, Inc.	0.05%	62,300	$6M	added+24%	0.00 pp	22 q
FFIVF5, Inc.	0.05%	31,300	$7M	added+13%	0.00 pp	10 q
LEVILevi Strauss & Co. Class A	0.05%	365,150	$7M	added+53%	+0.01 pp	8 q
SMGThe Scotts Miracle-Gro Company	0.05%	58,520	$7M	added+27%	0.00 pp	19 q
CDNSCadence Design Systems	0.04%	35,530	$6M	new	+0.04 pp	new
GNTXGentex Corp	0.04%	195,910	$6M	added+39%	+0.01 pp	4 q
MANHManhattan Associates Inc	0.04%	39,310	$5M	new	+0.04 pp	new
PAYXPaychex Inc	0.04%	35,730	$5M	added+7%	+0.01 pp	36 q
TROWT Rowe Price Group Inc	0.04%	32,361	$5M	held	—	36 q
URIUnited Rentals, Inc.	0.04%	13,340	$5M	added×2.0	+0.02 pp	3 q
ABBVAbbvie Inc.	0.03%	23,657	$4M	held	—	36 q
CBRECbre Group, Inc.	0.03%	38,180	$3M	added+6%	0.00 pp	18 q
CRICarter's Inc.	0.03%	41,640	$4M	added+27%	+0.01 pp	14 q
CLXClorox Company	0.03%	29,000	$4M	held	—	36 q
KELKellanova	0.03%	58,110	$4M	added+17%	+0.01 pp	10 q
LIILennox International Inc.	0.03%	16,850	$4M	added+31%	0.00 pp	15 q
MMSMAXIMUS, Inc.	0.03%	58,280	$4M	added+53%	+0.01 pp	7 q
MLKNMillerKnoll, Inc.	0.03%	98,980	$3M	added+16%	+0.01 pp	25 q
RMDResMed Inc.	0.03%	15,540	$4M	added+95%	+0.02 pp	2 q
CPBThe Campbell's Company	0.02%	67,350	$3M	added+10%	0.00 pp	23 q
DCIDonaldson Company, Inc.	0.02%	44,880	$2M	added+21%	0.00 pp	11 q
LSTRLandstar System Inc	0.02%	16,760	$3M	trimmed−45%	−0.02 pp	30 q
POOLPool Corporation	0.02%	5,500	$2M	added+50%	+0.01 pp	3 q
RTXRTX Corporation	0.02%	21,850	$2M	trimmed−2%	+0.01 pp	36 q
TTCToro Company (The)	0.02%	26,010	$2M	new	+0.02 pp	new
TSCOTractor Supply Co	0.02%	12,060	$3M	trimmed−11%	0.00 pp	19 q
BMYBristol-Myers Squibb Co.	0.01%	26,375	$2M	held	—	29 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.01%	14,020	$1M	added+8%	0.00 pp	8 q
99952EURLinde PLC/OLD	0.01%	4,195	$1M	trimmed−1%	0.00 pp	14 q
RSReliance, Inc.	0.00%	1,452	$266,000	trimmed−29%	0.00 pp	28 q
GWWW.W. Grainger, Inc.	—	−2,490	—	exited	−0.01 pp	—
ONON Semiconductor Corp	—	−13,441	—	exited	−0.01 pp	—