Jensen Investment

Q4 2023 13F · by Robert McIver, CEO

As of: Dec 31, 2023
Filed: Feb 9, 2024
US stock: $13.2B · prev $12.7B
Positions: 82 · prev 83
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%

Moves65 since the prior filing

+0.1 pp in · −0.1 pp out

New 2 +0.07 pp
Added 13 +0.05 pp
Trimmed 47 −0.07 pp
Exited 3 −0.08 pp

The book

Focused · behaves like 23 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.4% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions32% of US stock

Positions82 in this filing · 3 exited


MSFTMicrosoft Corp	7.34%	2,577,239	$969M	trimmed−11%	+0.12 pp	43 q
GOOGLAlphabet Inc. Class A	6.66%	6,292,869	$879M	trimmed−2%	+0.01 pp	10 q
ACNAccenture PLC	6.45%	2,426,646	$852M	trimmed−6%	+0.15 pp	43 q
PEPPepsiCo, Inc.	6.21%	4,824,344	$819M	trimmed−2%	−0.39 pp	43 q
AAPLApple Inc.	5.71%	3,913,699	$754M	trimmed−2%	+0.29 pp	35 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	5.46%	1,369,190	$721M	trimmed−2%	−0.12 pp	43 q
SYKStryker Corporation	5.24%	2,308,327	$691M	trimmed−8%	−0.19 pp	43 q
INTUIntuit Inc	5.21%	1,099,413	$687M	trimmed−2%	+0.67 pp	26 q
MRSHMarsh	4.23%	2,949,005	$559M	trimmed−2%	−0.31 pp	11 q
NKENike, Inc.	3.99%	4,853,832	$527M	trimmed−2%	+0.25 pp	43 q
SBUXStarbucks Corp	3.52%	4,843,828	$465M	trimmed−2%	−0.05 pp	15 q
ADPAutomatic Data Processing	3.50%	1,981,320	$462M	trimmed−2%	−0.35 pp	43 q
MAMastercard Incorporated	3.41%	1,054,308	$450M	trimmed−2%	+0.04 pp	34 q
EFXEquifax, Incorporated	2.90%	1,549,231	$383M	trimmed−11%	+0.37 pp	43 q
TXNTexas Instruments Incorporated	2.88%	2,231,201	$380M	trimmed−2%	+0.01 pp	21 q
BRBroadridge Financial Solutions Inc	2.78%	1,782,855	$367M	trimmed−2%	+0.20 pp	27 q
HDHome Depot, Inc.	2.75%	1,047,967	$363M	trimmed−2%	+0.19 pp	14 q
PGProcter & Gamble Company	2.61%	2,349,913	$344M	trimmed−2%	−0.16 pp	43 q
PFEPfizer Inc.	2.57%	11,775,507	$339M	trimmed−3%	−0.61 pp	23 q
APHAmphenol Corporation	2.53%	3,366,922	$334M	trimmed−2%	+0.24 pp	43 q
JNJJohnson & Johnson	2.50%	2,105,139	$330M	trimmed−8%	−0.31 pp	43 q
KLACKLA Corporation	2.42%	548,790	$319M	trimmed−2%	+0.39 pp	3 q
WMWaste Management, Inc.	2.35%	1,733,879	$311M	trimmed−2%	+0.22 pp	14 q
VRSKVerisk Analytics, Inc.	1.63%	900,907	$215M	trimmed−2%	−0.09 pp	14 q
BALLBall Corporation	1.33%	3,052,857	$176M	trimmed−2%	+0.10 pp	7 q
MCOMoody's Corporation	1.26%	426,966	$167M	trimmed−36%	−0.40 pp	8 q
ADBEAdobe Inc.	0.20%	44,182	$26M	trimmed−2%	+0.02 pp	43 q
WATWaters Corp	0.15%	58,632	$19M	trimmed−1%	+0.02 pp	43 q
ORCLOracle Corp	0.12%	152,060	$16M	trimmed−3%	−0.01 pp	43 q
ECLEcolab, Inc.	0.11%	70,871	$14M	trimmed−1%	+0.01 pp	43 q
ABTAbbott Laboratories	0.09%	103,403	$11M	held	—	43 q
BDXBecton, Dickinson and Co.	0.09%	50,179	$12M	trimmed−15%	−0.03 pp	43 q
CTSHCognizant Technology Solutions	0.07%	131,060	$10M	trimmed−1%	0.00 pp	43 q
EMREmerson Electric Co.	0.07%	93,920	$9M	trimmed−0%	0.00 pp	43 q
KOCoca-Cola Company	0.06%	127,263	$7M	held	—	43 q
CLColgate-Palmolive Company	0.06%	98,519	$8M	trimmed−0%	0.00 pp	43 q
CCKCrown Holdings Inc.	0.06%	81,630	$8M	added+1%	0.00 pp	33 q
GISGeneral Mills, Inc.	0.06%	123,295	$8M	added+3%	0.00 pp	35 q
99803EURLaboratory Crp Of Amer Hldgs	0.06%	32,710	$7M	held	—	19 q
CRLCharles River Laboratories International, Inc.	0.05%	25,530	$6M	held	—	7 q
CPRTCopart Inc	0.05%	137,810	$7M	trimmed−5%	0.00 pp	16 q
EHCEncompass Health Corporation	0.05%	105,540	$7M	held	—	25 q
GPCGenuine Parts Company	0.05%	44,370	$6M	added+14%	+0.01 pp	37 q
KRThe Kroger Co.	0.05%	137,980	$6M	held	—	30 q
LIILennox International Inc.	0.05%	15,170	$7M	trimmed−6%	0.00 pp	22 q
MCHPMicrochip Technology Inc	0.05%	72,840	$7M	held	—	14 q
OMCOmnicom Group Inc.	0.05%	83,701	$7M	trimmed−0%	0.00 pp	43 q
UPSUnited Parcel Service, Inc. Class B	0.05%	40,310	$6M	trimmed−10%	−0.01 pp	43 q
BBYBest Buy Company, Inc.	0.04%	67,290	$5M	held	—	39 q
CHDChurch & Dwight Co., Inc.	0.04%	56,010	$5M	held	—	16 q
FDSFactset Research Systems	0.04%	10,750	$5M	held	—	12 q
GNTXGentex Corp	0.04%	154,820	$5M	held	—	11 q
unresolvedKellanova	0.04%	87,700	$5M	new	+0.04 pp	new
KEYSKeysight Technologies, Inc.	0.04%	31,850	$5M	added+17%	+0.01 pp	3 q
MANHManhattan Associates Inc	0.04%	24,040	$5M	trimmed−13%	0.00 pp	8 q
TJXTJX Companies, Inc. (The)	0.04%	51,324	$5M	trimmed−90%	−0.31 pp	43 q
TSCOTractor Supply Co	0.04%	26,200	$6M	added+9%	0.00 pp	26 q
GGenpact Limited	0.04%	153,070	$5M	added+5%	0.00 pp	7 q
ABBVAbbvie Inc.	0.03%	22,237	$3M	held	—	43 q
TECHBio-Techne Corp.	0.03%	52,060	$4M	added+24%	+0.01 pp	4 q
CBRECbre Group, Inc.	0.03%	35,770	$3M	held	—	25 q
CPBThe Campbell's Company	0.03%	103,410	$4M	added+25%	0.00 pp	30 q
CLXClorox Company	0.03%	28,215	$4M	trimmed−0%	0.00 pp	43 q
DCIDonaldson Company, Inc.	0.03%	56,760	$4M	added+35%	+0.01 pp	18 q
FFIVF5, Inc.	0.03%	22,750	$4M	held	—	17 q
LEVILevi Strauss & Co. Class A	0.03%	258,640	$4M	held	—	15 q
TROWT Rowe Price Group Inc	0.03%	32,361	$3M	held	—	43 q
MMM3M Company	0.03%	30,840	$3M	trimmed−37%	−0.01 pp	43 q
TTCToro Company (The)	0.03%	38,740	$4M	added+6%	+0.01 pp	8 q
ULTAUlta Beauty, Inc.	0.03%	7,710	$4M	new	+0.03 pp	new
URIUnited Rentals, Inc.	0.03%	7,390	$4M	trimmed−13%	0.00 pp	10 q
WSMWilliams-Sonoma, Inc.	0.03%	18,360	$4M	trimmed−19%	0.00 pp	7 q
BAHBooz Allen Hamilton Holding Corporation	0.02%	16,310	$2M	held	—	2 q
CDNSCadence Design Systems	0.02%	10,730	$3M	trimmed−46%	−0.02 pp	8 q
MMSMAXIMUS, Inc.	0.02%	30,330	$3M	added+12%	0.00 pp	14 q
POOLPool Corporation	0.02%	8,240	$3M	held	—	10 q
BMYBristol-Myers Squibb Co.	0.01%	26,375	$1M	held	—	36 q
PAYXPaychex Inc	0.01%	9,830	$1M	held	—	43 q
RTXRTX Corporation	0.01%	21,050	$2M	trimmed−3%	0.00 pp	43 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.01%	18,170	$2M	added+3%	0.00 pp	15 q
AONAon plc Class A	0.01%	5,340	$2M	added+2%	0.00 pp	5 q
LINLinde plc	0.00%	1,505	$618,119	trimmed−4%	0.00 pp	4 q
KELKellanova	—	−86,320	—	exited	−0.04 pp	—
EXPDExpeditors International of Washington, Inc.	—	−30,010	—	exited	−0.03 pp	—
RMDResMed Inc.	—	−11,720	—	exited	−0.01 pp	—