Jensen Investment

Q2 2022 13F · by Robert McIver, CEO

As of: Jun 30, 2022
Filed: Aug 12, 2022
US stock: $12.1B · prev $13.4B
Positions: 81 · prev 80
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%

Moves58 since the prior filing

+1.0 pp in · −1.0 pp out

New 4 +1.54 pp
Added 34 −0.53 pp
Trimmed 17 −0.87 pp
Exited 3 −0.08 pp

The book

Focused · behaves like 26 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 8.1% a year, about 12.3 years per position

Low
Moderate
High

Top 5 positions29% of US stock

Positions81 in this filing · 3 exited


PEPPepsiCo, Inc.	6.65%	4,821,448	$804M	trimmed−4%	+0.36 pp	37 q
MSFTMicrosoft Corp	6.48%	3,046,456	$782M	added+3%	−0.32 pp	37 q
GOOGLAlphabet Inc. Class A	6.04%	335,077	$730M	added+3%	−0.70 pp	4 q
JNJJohnson & Johnson	5.31%	3,613,839	$641M	trimmed−2%	+0.43 pp	37 q
AAPLApple Inc.	4.76%	4,207,774	$575M	added+3%	−0.56 pp	29 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.74%	1,113,688	$572M	trimmed−3%	+0.37 pp	37 q
ACNAccenture PLC	4.63%	2,015,402	$560M	added+15%	+0.20 pp	37 q
PFEPfizer Inc.	4.36%	10,040,094	$526M	added+3%	+0.61 pp	17 q
BDXBecton, Dickinson and Co.	4.35%	2,133,735	$526M	added+3%	+0.25 pp	37 q
SYKStryker Corporation	4.14%	2,515,693	$500M	added+3%	−0.73 pp	37 q
ADPAutomatic Data Processing	3.96%	2,275,524	$478M	added+3%	+0.21 pp	37 q
NKENike, Inc.	3.69%	4,357,438	$445M	added+3%	−0.55 pp	37 q
PGProcter & Gamble Company	2.87%	2,410,475	$347M	added+3%	+0.21 pp	37 q
SBUXStarbucks Corp	2.75%	4,348,451	$332M	added+3%	−0.11 pp	9 q
MMM3M Company	2.71%	2,527,510	$327M	trimmed−23%	−0.93 pp	37 q
MAMastercard Incorporated	2.67%	1,022,792	$323M	added+3%	+0.03 pp	28 q
INTUIntuit Inc	2.65%	831,429	$320M	added+4%	−0.23 pp	20 q
MRSHMarsh	2.62%	2,037,800	$316M	added+28%	+0.59 pp	5 q
TXNTexas Instruments Incorporated	2.30%	1,807,500	$278M	added+3%	−0.09 pp	15 q
CTSHCognizant Technology Solutions	2.29%	4,092,081	$276M	trimmed−18%	−1.06 pp	37 q
WMWaste Management, Inc.	2.13%	1,682,827	$257M	added+3%	+0.20 pp	8 q
HDHome Depot, Inc.	2.07%	910,772	$250M	added+3%	+0.10 pp	8 q
BRBroadridge Financial Solutions Inc	2.05%	1,736,658	$248M	added+3%	+0.09 pp	21 q
EFXEquifax, Incorporated	2.05%	1,354,123	$248M	added+3%	−0.27 pp	37 q
TJXTJX Companies, Inc. (The)	1.98%	4,280,120	$239M	added+3%	+0.11 pp	37 q
UPSUnited Parcel Service, Inc. Class B	1.92%	1,273,299	$232M	added+3%	−0.06 pp	37 q
BALLBall Corporation	1.47%	2,581,210	$178M	new	+1.47 pp	new
MCOMoody's Corporation	1.42%	632,235	$172M	added+23%	+0.13 pp	2 q
VRSKVerisk Analytics, Inc.	1.35%	941,134	$163M	added+24%	+0.14 pp	8 q
APHAmphenol Corporation	1.24%	2,332,483	$150M	added+27%	+0.21 pp	37 q
ADBEAdobe Inc.	0.14%	44,967	$16M	trimmed−0%	−0.01 pp	37 q
WATWaters Corp	0.13%	46,772	$15M	trimmed−0%	+0.02 pp	37 q
ABTAbbott Laboratories	0.10%	106,425	$12M	trimmed−1%	+0.01 pp	37 q
ORCLOracle Corp	0.10%	178,645	$12M	trimmed−0%	−0.01 pp	37 q
ECLEcolab, Inc.	0.09%	74,170	$11M	trimmed−1%	−0.01 pp	37 q
GISGeneral Mills, Inc.	0.09%	136,480	$10M	trimmed−0%	+0.02 pp	29 q
CHDChurch & Dwight Co., Inc.	0.07%	88,210	$8M	held	—	10 q
KOCoca-Cola Company	0.07%	131,409	$8M	added+1%	+0.01 pp	37 q
CLColgate-Palmolive Company	0.07%	102,699	$8M	added0%	+0.01 pp	37 q
EMREmerson Electric Co.	0.07%	101,905	$8M	trimmed−0%	0.00 pp	37 q
99803EURLaboratory Crp Of Amer Hldgs	0.07%	33,810	$8M	added+8%	+0.01 pp	13 q
CPRTCopart Inc	0.06%	65,760	$7M	held	—	10 q
CCKCrown Holdings Inc.	0.06%	80,300	$7M	added+5%	−0.01 pp	27 q
EHCEncompass Health Corporation	0.06%	133,000	$7M	added+5%	−0.01 pp	19 q
FDSFactset Research Systems	0.06%	17,850	$7M	held	—	6 q
GPCGenuine Parts Company	0.06%	55,420	$7M	trimmed−18%	0.00 pp	31 q
HASHasbro, Inc.	0.06%	92,830	$8M	held	—	19 q
MCHPMicrochip Technology Inc	0.06%	116,100	$7M	held	—	8 q
BBYBest Buy Company, Inc.	0.05%	88,690	$6M	held	—	33 q
EXPDExpeditors International of Washington, Inc.	0.05%	62,300	$6M	held	—	23 q
GNTXGentex Corp	0.05%	195,910	$5M	held	—	5 q
KRThe Kroger Co.	0.05%	119,100	$6M	trimmed−19%	−0.01 pp	24 q
LEVILevi Strauss & Co. Class A	0.05%	365,150	$6M	held	—	9 q
OMCOmnicom Group Inc.	0.05%	90,664	$6M	trimmed−1%	−0.01 pp	37 q
CDNSCadence Design Systems	0.04%	35,530	$5M	held	—	2 q
FFIVF5, Inc.	0.04%	31,300	$5M	held	—	11 q
MANHManhattan Associates Inc	0.04%	39,310	$5M	held	—	2 q
GGenpact Limited	0.04%	106,380	$5M	new	+0.04 pp	new
ABBVAbbvie Inc.	0.03%	23,957	$4M	added+1%	0.00 pp	37 q
CPBThe Campbell's Company	0.03%	67,350	$3M	held	—	24 q
CLXClorox Company	0.03%	29,000	$4M	held	—	37 q
KELKellanova	0.03%	58,110	$4M	held	—	11 q
LIILennox International Inc.	0.03%	16,850	$3M	held	—	16 q
MMSMAXIMUS, Inc.	0.03%	58,280	$4M	held	—	8 q
TROWT Rowe Price Group Inc	0.03%	32,361	$4M	held	—	37 q
RMDResMed Inc.	0.03%	18,240	$4M	added+17%	0.00 pp	3 q
URIUnited Rentals, Inc.	0.03%	13,340	$3M	held	—	4 q
BMYBristol-Myers Squibb Co.	0.02%	26,375	$2M	held	—	30 q
CBRECbre Group, Inc.	0.02%	38,180	$3M	held	—	19 q
CRICarter's Inc.	0.02%	41,640	$3M	held	—	15 q
CRLCharles River Laboratories International, Inc.	0.02%	8,660	$2M	new	+0.02 pp	new
DCIDonaldson Company, Inc.	0.02%	44,880	$2M	held	—	12 q
LSTRLandstar System Inc	0.02%	16,760	$2M	held	—	31 q
POOLPool Corporation	0.02%	6,820	$2M	added+24%	0.00 pp	4 q
RTXRTX Corporation	0.02%	21,850	$2M	held	—	37 q
TTCToro Company (The)	0.02%	38,750	$3M	added+49%	0.00 pp	2 q
PAYXPaychex Inc	0.01%	9,830	$1M	trimmed−72%	−0.03 pp	37 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.01%	16,040	$1M	added+14%	0.00 pp	9 q
TSCOTractor Supply Co	0.01%	5,770	$1M	trimmed−52%	−0.01 pp	20 q
WSMWilliams-Sonoma, Inc.	0.01%	15,360	$2M	new	+0.01 pp	new
99952EURLinde PLC/OLD	0.01%	4,195	$1M	held	—	15 q
SMGThe Scotts Miracle-Gro Company	—	−58,520	—	exited	−0.05 pp	—
MLKNMillerKnoll, Inc.	—	−98,980	—	exited	−0.03 pp	—
RSReliance, Inc.	—	−1,452	—	exited	0.00 pp	—