Jensen Investment

Q2 2023 13F · by Robert McIver, CEO

As of: Jun 30, 2023
Filed: Aug 7, 2023
US stock: $13.6B · prev $12.7B
Positions: 82 · prev 81
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%

Moves78 since the prior filing

+1.5 pp in · −1.5 pp out

New 2 +1.53 pp
Added 36 −0.01 pp
Trimmed 39 −1.44 pp
Exited 1 −0.03 pp

The book

Focused · behaves like 24 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.5% a year, about 10.6 years per position

Low
Moderate
High

Top 5 positions31% of US stock

Positions82 in this filing · 1 exited


MSFTMicrosoft Corp	7.30%	2,922,834	$995M	trimmed−5%	+0.40 pp	41 q
PEPPepsiCo, Inc.	6.52%	4,800,258	$889M	added+1%	−0.25 pp	41 q
AAPLApple Inc.	5.85%	4,109,792	$797M	added+1%	+0.64 pp	33 q
SYKStryker Corporation	5.78%	2,580,599	$787M	added+1%	+0.14 pp	41 q
ACNAccenture PLC	5.72%	2,524,809	$779M	added+1%	+0.16 pp	41 q
GOOGLAlphabet Inc. Class A	5.50%	6,265,198	$750M	added+1%	+0.57 pp	8 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.80%	1,362,151	$655M	added+1%	−0.19 pp	41 q
MRSHMarsh	4.04%	2,930,194	$551M	added+1%	+0.28 pp	9 q
NKENike, Inc.	3.90%	4,818,308	$532M	added+1%	−0.61 pp	41 q
INTUIntuit Inc	3.68%	1,093,205	$501M	added+1%	−0.08 pp	24 q
SBUXStarbucks Corp	3.51%	4,822,822	$478M	added+1%	−0.30 pp	13 q
JNJJohnson & Johnson	3.42%	2,818,707	$467M	added+1%	+0.05 pp	41 q
ADPAutomatic Data Processing	3.35%	2,078,245	$457M	added+1%	−0.21 pp	41 q
PFEPfizer Inc.	3.17%	11,762,638	$431M	added+1%	−0.53 pp	21 q
MAMastercard Incorporated	3.03%	1,048,854	$413M	added+1%	+0.09 pp	32 q
TXNTexas Instruments Incorporated	2.93%	2,216,697	$399M	added+1%	−0.25 pp	19 q
PGProcter & Gamble Company	2.75%	2,465,510	$374M	added+1%	−0.09 pp	41 q
EFXEquifax, Incorporated	2.71%	1,570,978	$370M	added+1%	+0.26 pp	41 q
HDHome Depot, Inc.	2.38%	1,043,818	$324M	added+1%	+0.06 pp	12 q
WMWaste Management, Inc.	2.20%	1,726,658	$299M	added+1%	+0.03 pp	12 q
APHAmphenol Corporation	2.17%	3,475,919	$295M	added+1%	−0.02 pp	41 q
BRBroadridge Financial Solutions Inc	2.17%	1,782,104	$295M	added+1%	+0.15 pp	25 q
UPSUnited Parcel Service, Inc. Class B	1.96%	1,487,705	$267M	added+1%	−0.26 pp	41 q
MCOMoody's Corporation	1.83%	719,167	$250M	added+1%	+0.14 pp	6 q
VRSKVerisk Analytics, Inc.	1.57%	946,702	$214M	added+1%	+0.16 pp	12 q
KLACKLA Corporation	1.51%	424,723	$206M	new	+1.51 pp	new
BDXBecton, Dickinson and Co.	1.49%	767,204	$203M	trimmed−43%	−1.13 pp	41 q
BALLBall Corporation	1.29%	3,031,577	$176M	added+1%	0.00 pp	5 q
TJXTJX Companies, Inc. (The)	1.15%	1,853,938	$157M	trimmed−37%	−0.63 pp	41 q
ADBEAdobe Inc.	0.16%	45,029	$22M	held	—	41 q
ORCLOracle Corp	0.14%	157,700	$19M	trimmed−1%	+0.03 pp	41 q
WATWaters Corp	0.11%	54,762	$15M	added+20%	0.00 pp	41 q
ECLEcolab, Inc.	0.10%	71,866	$13M	trimmed−2%	+0.01 pp	41 q
ABTAbbott Laboratories	0.08%	104,403	$11M	trimmed−2%	0.00 pp	41 q
KOCoca-Cola Company	0.06%	128,263	$8M	trimmed−0%	0.00 pp	41 q
CTSHCognizant Technology Solutions	0.06%	132,054	$9M	trimmed−5%	−0.01 pp	41 q
CLColgate-Palmolive Company	0.06%	98,789	$8M	trimmed−2%	0.00 pp	41 q
EMREmerson Electric Co.	0.06%	95,227	$9M	trimmed−3%	−0.01 pp	41 q
EHCEncompass Health Corporation	0.06%	122,740	$8M	trimmed−3%	+0.01 pp	23 q
GISGeneral Mills, Inc.	0.06%	98,524	$8M	trimmed−6%	−0.01 pp	33 q
99803EURLaboratory Crp Of Amer Hldgs	0.06%	32,010	$8M	trimmed−3%	0.00 pp	17 q
OMCOmnicom Group Inc.	0.06%	84,629	$8M	trimmed−2%	0.00 pp	41 q
CPRTCopart Inc	0.05%	75,130	$7M	trimmed−28%	−0.01 pp	14 q
CCKCrown Holdings Inc.	0.05%	83,570	$7M	added+4%	0.00 pp	31 q
EXPDExpeditors International of Washington, Inc.	0.05%	52,520	$6M	trimmed−3%	0.00 pp	27 q
GPCGenuine Parts Company	0.05%	36,760	$6M	trimmed−3%	0.00 pp	35 q
KRThe Kroger Co.	0.05%	142,680	$7M	trimmed−3%	−0.01 pp	28 q
LIILennox International Inc.	0.05%	21,210	$7M	trimmed−1%	+0.01 pp	20 q
MANHManhattan Associates Inc	0.05%	32,010	$6M	trimmed−27%	0.00 pp	6 q
MCHPMicrochip Technology Inc	0.05%	75,320	$7M	trimmed−16%	−0.01 pp	12 q
BBYBest Buy Company, Inc.	0.04%	69,580	$6M	trimmed−3%	0.00 pp	37 q
CDNSCadence Design Systems	0.04%	24,520	$6M	trimmed−17%	−0.01 pp	6 q
CRLCharles River Laboratories International, Inc.	0.04%	24,980	$5M	trimmed−3%	0.00 pp	5 q
CHDChurch & Dwight Co., Inc.	0.04%	59,840	$6M	trimmed−17%	−0.01 pp	14 q
GNTXGentex Corp	0.04%	189,820	$6M	trimmed−3%	0.00 pp	9 q
KELKellanova	0.04%	89,260	$6M	added+5%	0.00 pp	15 q
MMSMAXIMUS, Inc.	0.04%	63,140	$5M	trimmed−3%	0.00 pp	12 q
RMDResMed Inc.	0.04%	23,090	$5M	added+18%	+0.01 pp	7 q
MMM3M Company	0.04%	48,990	$5M	trimmed−23%	−0.01 pp	41 q
GGenpact Limited	0.04%	129,510	$5M	added+17%	0.00 pp	5 q
TECHBio-Techne Corp.	0.03%	43,430	$4M	added+17%	+0.01 pp	2 q
CLXClorox Company	0.03%	28,235	$4M	held	—	41 q
FDSFactset Research Systems	0.03%	11,120	$4M	trimmed−3%	−0.01 pp	10 q
FFIVF5, Inc.	0.03%	23,530	$3M	trimmed−25%	−0.01 pp	15 q
LEVILevi Strauss & Co. Class A	0.03%	267,460	$4M	trimmed−14%	−0.01 pp	13 q
TROWT Rowe Price Group Inc	0.03%	32,361	$4M	held	—	41 q
TTCToro Company (The)	0.03%	37,880	$4M	added+10%	0.00 pp	6 q
TSCOTractor Supply Co	0.03%	20,230	$4M	added×3.5	+0.02 pp	24 q
URIUnited Rentals, Inc.	0.03%	9,860	$4M	trimmed−3%	0.00 pp	8 q
ABBVAbbvie Inc.	0.02%	22,367	$3M	trimmed−6%	−0.01 pp	41 q
CBRECbre Group, Inc.	0.02%	36,990	$3M	trimmed−3%	0.00 pp	23 q
CPBThe Campbell's Company	0.02%	52,790	$2M	trimmed−3%	0.00 pp	28 q
DCIDonaldson Company, Inc.	0.02%	43,490	$3M	trimmed−3%	0.00 pp	16 q
KEYSKeysight Technologies, Inc.	0.02%	18,700	$3M	new	+0.02 pp	new
POOLPool Corporation	0.02%	8,520	$3M	trimmed−3%	0.00 pp	8 q
RTXRTX Corporation	0.02%	21,615	$2M	trimmed−1%	0.00 pp	41 q
WSMWilliams-Sonoma, Inc.	0.02%	17,210	$2M	added+12%	+0.01 pp	5 q
BMYBristol-Myers Squibb Co.	0.01%	26,375	$2M	held	—	34 q
PAYXPaychex Inc	0.01%	9,830	$1M	held	—	41 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.01%	17,610	$2M	added0%	0.00 pp	13 q
AONAon plc Class A	0.01%	4,820	$2M	added+18%	0.00 pp	3 q
LINLinde plc	0.00%	1,573	$599,439	trimmed−42%	−0.01 pp	2 q
HASHasbro, Inc.	—	−71,470	—	exited	−0.03 pp	—