Jensen Investment

Q1 2024 13F · by Robert McIver, CEO

As of: Mar 31, 2024
Filed: May 6, 2024
US stock: $13.1B · prev $13.2B
Positions: 84 · prev 82
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%

Moves67 since the prior filing

+4.4 pp in · −4.5 pp out

New 5 +3.05 pp
Added 11 +1.35 pp
Trimmed 48 −1.91 pp
Exited 3 −2.63 pp

The book

Focused · behaves like 23 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 14% a year, about 7.2 years per position

Low
Moderate
High

Top 5 positions32% of US stock

Positions84 in this filing · 3 exited


MSFTMicrosoft Corp	7.53%	2,342,114	$985M	trimmed−9%	+0.19 pp	44 q
GOOGLAlphabet Inc. Class A	6.68%	5,796,244	$875M	trimmed−8%	+0.02 pp	11 q
ACNAccenture PLC	6.40%	2,416,163	$837M	trimmed−0%	−0.05 pp	44 q
SYKStryker Corporation	5.78%	2,114,915	$757M	trimmed−8%	+0.54 pp	44 q
INTUIntuit Inc	5.43%	1,094,629	$712M	trimmed−0%	+0.22 pp	27 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	5.14%	1,360,511	$673M	trimmed−1%	−0.32 pp	44 q
AAPLApple Inc.	5.11%	3,899,621	$669M	trimmed−0%	−0.60 pp	36 q
MRSHMarsh	5.01%	3,186,076	$656M	added+8%	+0.78 pp	12 q
PEPPepsiCo, Inc.	4.15%	3,107,551	$544M	trimmed−36%	−2.06 pp	44 q
MAMastercard Incorporated	3.86%	1,049,377	$505M	trimmed−0%	+0.45 pp	35 q
ADPAutomatic Data Processing	3.76%	1,971,675	$492M	trimmed−0%	+0.26 pp	44 q
SBUXStarbucks Corp	3.37%	4,829,984	$441M	trimmed−0%	−0.15 pp	16 q
NKENike, Inc.	3.29%	4,578,359	$430M	trimmed−6%	−0.70 pp	44 q
EFXEquifax, Incorporated	3.14%	1,536,866	$411M	trimmed−1%	+0.24 pp	44 q
TXNTexas Instruments Incorporated	2.97%	2,230,211	$389M	trimmed−0%	+0.09 pp	22 q
KLACKLA Corporation	2.93%	548,990	$384M	added0%	+0.51 pp	4 q
PGProcter & Gamble Company	2.89%	2,335,188	$379M	trimmed−1%	+0.28 pp	44 q
WMWaste Management, Inc.	2.81%	1,725,604	$368M	trimmed−0%	+0.46 pp	15 q
BRBroadridge Financial Solutions Inc	2.78%	1,776,877	$364M	trimmed−0%	0.00 pp	28 q
APHAmphenol Corporation	2.62%	2,976,597	$343M	trimmed−12%	+0.09 pp	44 q
HDHome Depot, Inc.	2.50%	851,908	$327M	trimmed−19%	−0.25 pp	15 q
JNJJohnson & Johnson	2.44%	2,018,153	$319M	trimmed−4%	−0.06 pp	44 q
ZTSZoetis Inc.	2.03%	1,570,349	$266M	new	+2.03 pp	new
VRSKVerisk Analytics, Inc.	1.62%	900,115	$212M	trimmed−0%	−0.01 pp	15 q
BALLBall Corporation	1.56%	3,037,277	$205M	trimmed−1%	+0.23 pp	8 q
MCDMcDonald's Corporation	0.93%	431,362	$122M	new	+0.93 pp	new
MCOMoody's Corporation	0.54%	179,101	$70M	trimmed−58%	−0.72 pp	9 q
ADBEAdobe Inc.	0.17%	44,162	$22M	trimmed−0%	−0.03 pp	44 q
ORCLOracle Corp	0.15%	152,060	$19M	held	—	44 q
WATWaters Corp	0.14%	54,342	$19M	trimmed−7%	−0.01 pp	44 q
ECLEcolab, Inc.	0.12%	70,426	$16M	trimmed−1%	+0.01 pp	44 q
ABTAbbott Laboratories	0.09%	103,378	$12M	trimmed−0%	0.00 pp	44 q
BDXBecton, Dickinson and Co.	0.08%	43,701	$11M	trimmed−13%	−0.01 pp	44 q
EMREmerson Electric Co.	0.08%	93,920	$11M	held	—	44 q
CTSHCognizant Technology Solutions	0.07%	130,260	$10M	trimmed−1%	0.00 pp	44 q
CLColgate-Palmolive Company	0.07%	97,759	$9M	trimmed−1%	+0.01 pp	44 q
GISGeneral Mills, Inc.	0.07%	123,295	$9M	held	—	36 q
KOCoca-Cola Company	0.06%	126,228	$8M	trimmed−1%	0.00 pp	44 q
CPRTCopart Inc	0.06%	137,810	$8M	held	—	17 q
CCKCrown Holdings Inc.	0.06%	91,228	$7M	added+12%	0.00 pp	34 q
EHCEncompass Health Corporation	0.06%	100,540	$8M	trimmed−5%	+0.01 pp	26 q
OMCOmnicom Group Inc.	0.06%	82,741	$8M	trimmed−1%	+0.01 pp	44 q
BBYBest Buy Company, Inc.	0.05%	76,455	$6M	added+14%	+0.01 pp	40 q
CRLCharles River Laboratories International, Inc.	0.05%	23,680	$6M	trimmed−7%	0.00 pp	8 q
GPCGenuine Parts Company	0.05%	44,370	$7M	held	—	38 q
KRThe Kroger Co.	0.05%	120,180	$7M	trimmed−13%	0.00 pp	31 q
99803EURLaboratory Crp Of Amer Hldgs	0.05%	32,300	$7M	trimmed−1%	−0.01 pp	20 q
LIILennox International Inc.	0.05%	14,080	$7M	trimmed−7%	0.00 pp	23 q
TSCOTractor Supply Co	0.05%	26,200	$7M	held	—	27 q
CPBThe Campbell's Company	0.04%	120,828	$5M	added+17%	+0.01 pp	31 q
CHDChurch & Dwight Co., Inc.	0.04%	56,010	$6M	held	—	17 q
FDSFactset Research Systems	0.04%	10,750	$5M	held	—	13 q
GNTXGentex Corp	0.04%	154,820	$6M	held	—	12 q
KELKellanova	0.04%	100,447	$6M	new	+0.04 pp	new
KEYSKeysight Technologies, Inc.	0.04%	31,850	$5M	held	—	4 q
LEVILevi Strauss & Co. Class A	0.04%	238,140	$5M	trimmed−8%	+0.01 pp	16 q
MANHManhattan Associates Inc	0.04%	19,530	$5M	trimmed−19%	0.00 pp	9 q
MCHPMicrochip Technology Inc	0.04%	55,080	$5M	trimmed−24%	−0.01 pp	15 q
GGenpact Limited	0.04%	178,575	$6M	added+17%	0.00 pp	8 q
ABBVAbbvie Inc.	0.03%	22,227	$4M	trimmed−0%	0.00 pp	44 q
TECHBio-Techne Corp.	0.03%	52,060	$4M	held	—	5 q
BAHBooz Allen Hamilton Holding Corporation	0.03%	28,380	$4M	added+74%	+0.01 pp	3 q
CBRECbre Group, Inc.	0.03%	35,770	$3M	held	—	26 q
CLXClorox Company	0.03%	28,215	$4M	held	—	44 q
DCIDonaldson Company, Inc.	0.03%	56,760	$4M	held	—	19 q
FFIVF5, Inc.	0.03%	22,750	$4M	held	—	18 q
MSCIMSCI, Inc.	0.03%	6,130	$3M	new	+0.03 pp	new
MMSMAXIMUS, Inc.	0.03%	44,220	$4M	added+46%	+0.01 pp	15 q
POOLPool Corporation	0.03%	8,240	$3M	held	—	11 q
TROWT Rowe Price Group Inc	0.03%	32,186	$4M	trimmed−1%	0.00 pp	44 q
TTCToro Company (The)	0.03%	38,740	$4M	held	—	9 q
ULTAUlta Beauty, Inc.	0.03%	8,270	$4M	added+7%	0.00 pp	2 q
UPSUnited Parcel Service, Inc. Class B	0.03%	23,914	$4M	trimmed−41%	−0.02 pp	44 q
URIUnited Rentals, Inc.	0.03%	4,650	$3M	trimmed−37%	0.00 pp	11 q
WSMWilliams-Sonoma, Inc.	0.03%	13,340	$4M	trimmed−27%	0.00 pp	8 q
ONON Semiconductor Corp	0.02%	31,030	$2M	new	+0.02 pp	new
RTXRTX Corporation	0.02%	20,720	$2M	trimmed−2%	+0.01 pp	44 q
TJXTJX Companies, Inc. (The)	0.02%	29,355	$3M	trimmed−43%	−0.02 pp	44 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.02%	20,040	$3M	added+10%	+0.01 pp	16 q
MMM3M Company	0.02%	29,380	$3M	trimmed−5%	−0.01 pp	44 q
AONAon plc Class A	0.02%	7,500	$3M	added+40%	+0.01 pp	6 q
BMYBristol-Myers Squibb Co.	0.01%	26,375	$1M	held	—	37 q
PAYXPaychex Inc	0.01%	9,830	$1M	held	—	44 q
LINLinde plc	0.01%	1,505	$698,802	held	—	5 q
PFEPfizer Inc.	—	−11,775,507	—	exited	−2.57 pp	—
unresolvedKellanova	—	−87,700	—	exited	−0.04 pp	—
CDNSCadence Design Systems	—	−10,730	—	exited	−0.02 pp	—