Jensen Investment

Q2 2024 13F · by Robert McIver, CEO

As of: Jun 30, 2024
Filed: Aug 5, 2024
US stock: $12.2B · prev $13.1B
Positions: 87 · prev 84
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%

Moves63 since the prior filing

+3.9 pp in · −4.0 pp out

New 6 +1.52 pp
Added 15 +2.37 pp
Trimmed 39 −3.33 pp
Exited 3 −0.62 pp

The book

Focused · behaves like 23 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 11% a year, about 8.7 years per position

Low
Moderate
High

Top 5 positions33% of US stock

Positions87 in this filing · 3 exited


MSFTMicrosoft Corp	8.08%	2,208,271	$987M	trimmed−6%	+0.55 pp	45 q
GOOGLAlphabet Inc. Class A	7.02%	4,711,234	$858M	trimmed−19%	+0.34 pp	12 q
AAPLApple Inc.	6.69%	3,884,083	$818M	trimmed−0%	+1.58 pp	37 q
ACNAccenture PLC	6.06%	2,442,792	$741M	added+1%	−0.34 pp	45 q
INTUIntuit Inc	5.59%	1,040,174	$684M	trimmed−5%	+0.16 pp	28 q
MRSHMarsh	5.56%	3,226,258	$680M	added+1%	+0.55 pp	13 q
SYKStryker Corporation	5.44%	1,954,455	$665M	trimmed−8%	−0.34 pp	45 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.03%	966,191	$492M	trimmed−29%	−1.11 pp	45 q
KLACKLA Corporation	3.85%	571,035	$471M	added+4%	+0.92 pp	5 q
PEPPepsiCo, Inc.	3.70%	2,738,711	$452M	trimmed−12%	−0.45 pp	45 q
MAMastercard Incorporated	3.65%	1,010,206	$446M	trimmed−4%	−0.21 pp	36 q
ADPAutomatic Data Processing	3.62%	1,854,410	$443M	trimmed−6%	−0.14 pp	45 q
TXNTexas Instruments Incorporated	3.46%	2,173,826	$423M	trimmed−3%	+0.49 pp	23 q
EFXEquifax, Incorporated	2.99%	1,505,501	$365M	trimmed−2%	−0.15 pp	45 q
BRBroadridge Financial Solutions Inc	2.80%	1,738,280	$342M	trimmed−2%	+0.02 pp	29 q
ZTSZoetis Inc.	2.79%	1,965,541	$341M	added+25%	+0.76 pp	2 q
WMWaste Management, Inc.	2.78%	1,591,789	$340M	trimmed−8%	−0.03 pp	16 q
PGProcter & Gamble Company	2.68%	1,983,663	$327M	trimmed−15%	−0.21 pp	45 q
SBUXStarbucks Corp	2.33%	3,653,969	$284M	trimmed−24%	−1.04 pp	17 q
JNJJohnson & Johnson	2.27%	1,898,839	$278M	trimmed−6%	−0.17 pp	45 q
NKENike, Inc.	2.27%	3,686,612	$278M	trimmed−19%	−1.02 pp	45 q
APHAmphenol Corporation	2.19%	3,967,544	$267M	trimmed−33%	−0.43 pp	45 q
VRSKVerisk Analytics, Inc.	1.87%	847,900	$229M	trimmed−6%	+0.25 pp	16 q
HDHome Depot, Inc.	1.46%	519,179	$179M	trimmed−39%	−1.04 pp	16 q
SHWThe Sherwin-Williams Company	1.39%	568,878	$170M	new	+1.39 pp	new
MCDMcDonald's Corporation	1.37%	654,925	$167M	added+52%	+0.44 pp	2 q
BALLBall Corporation	1.23%	2,512,921	$151M	trimmed−17%	−0.33 pp	9 q
ADBEAdobe Inc.	0.20%	44,162	$25M	held	—	45 q
ORCLOracle Corp	0.17%	149,084	$21M	trimmed−2%	+0.02 pp	45 q
ECLEcolab, Inc.	0.14%	70,426	$17M	held	—	45 q
WATWaters Corp	0.12%	49,342	$14M	trimmed−9%	−0.02 pp	45 q
ABTAbbott Laboratories	0.09%	103,378	$11M	held	—	45 q
BDXBecton, Dickinson and Co.	0.08%	40,167	$9M	trimmed−8%	0.00 pp	45 q
CLColgate-Palmolive Company	0.08%	97,759	$9M	held	—	45 q
EMREmerson Electric Co.	0.08%	93,920	$10M	held	—	45 q
KOCoca-Cola Company	0.07%	126,228	$8M	held	—	45 q
CTSHCognizant Technology Solutions	0.07%	125,664	$9M	trimmed−4%	0.00 pp	45 q
EHCEncompass Health Corporation	0.07%	94,410	$8M	trimmed−6%	+0.01 pp	27 q
CPRTCopart Inc	0.06%	137,810	$7M	held	—	18 q
CCKCrown Holdings Inc.	0.06%	93,638	$7M	added+3%	0.00 pp	35 q
GISGeneral Mills, Inc.	0.06%	123,295	$8M	held	—	37 q
LHLabcorp Holdings Inc.	0.06%	35,690	$7M	new	+0.06 pp	new
OMCOmnicom Group Inc.	0.06%	79,541	$7M	trimmed−4%	0.00 pp	45 q
CHDChurch & Dwight Co., Inc.	0.05%	56,010	$6M	held	—	18 q
GPCGenuine Parts Company	0.05%	42,590	$6M	trimmed−4%	0.00 pp	39 q
KELKellanova	0.05%	100,447	$6M	held	—	2 q
KRThe Kroger Co.	0.05%	120,630	$6M	added0%	0.00 pp	32 q
LIILennox International Inc.	0.05%	11,770	$6M	trimmed−16%	0.00 pp	24 q
TSCOTractor Supply Co	0.05%	24,460	$7M	trimmed−7%	0.00 pp	28 q
GGenpact Limited	0.05%	178,575	$6M	held	—	9 q
BBYBest Buy Company, Inc.	0.04%	64,955	$5M	trimmed−15%	−0.01 pp	41 q
BAHBooz Allen Hamilton Holding Corporation	0.04%	30,900	$5M	added+9%	+0.01 pp	4 q
CPBThe Campbell's Company	0.04%	120,828	$5M	held	—	32 q
FDSFactset Research Systems	0.04%	10,750	$4M	held	—	14 q
FFIVF5, Inc.	0.04%	26,860	$5M	added+18%	+0.01 pp	19 q
GNTXGentex Corp	0.04%	154,820	$5M	held	—	13 q
KEYSKeysight Technologies, Inc.	0.04%	34,650	$5M	added+9%	0.00 pp	5 q
MSCIMSCI, Inc.	0.04%	9,270	$4M	added+51%	+0.01 pp	2 q
MANHManhattan Associates Inc	0.04%	19,530	$5M	held	—	10 q
MCHPMicrochip Technology Inc	0.04%	49,430	$5M	trimmed−10%	0.00 pp	16 q
ABBVAbbvie Inc.	0.03%	22,227	$4M	held	—	45 q
TECHBio-Techne Corp.	0.03%	52,060	$4M	held	—	6 q
CRLCharles River Laboratories International, Inc.	0.03%	15,910	$3M	trimmed−33%	−0.02 pp	9 q
CLXClorox Company	0.03%	28,215	$4M	held	—	45 q
DCIDonaldson Company, Inc.	0.03%	56,760	$4M	held	—	20 q
MMSMAXIMUS, Inc.	0.03%	44,220	$4M	held	—	16 q
TROWT Rowe Price Group Inc	0.03%	31,950	$4M	trimmed−1%	0.00 pp	45 q
TJXTJX Companies, Inc. (The)	0.03%	29,355	$3M	held	—	45 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.03%	20,368	$4M	added+2%	+0.01 pp	17 q
TTCToro Company (The)	0.03%	38,740	$4M	held	—	10 q
ULTAUlta Beauty, Inc.	0.03%	9,610	$4M	added+16%	0.00 pp	3 q
UPSUnited Parcel Service, Inc. Class B	0.03%	23,814	$3M	trimmed−0%	0.00 pp	45 q
VEEVVeeva Systems Inc.	0.03%	21,230	$4M	new	+0.03 pp	new
WSMWilliams-Sonoma, Inc.	0.03%	11,740	$3M	trimmed−12%	0.00 pp	9 q
APDAir Products & Chemicals, Inc.	0.02%	7,980	$2M	new	+0.02 pp	new
IDXXIdexx Laboratories Inc	0.02%	5,120	$2M	new	+0.02 pp	new
LEVILevi Strauss & Co. Class A	0.02%	147,630	$3M	trimmed−38%	−0.02 pp	17 q
ONON Semiconductor Corp	0.02%	33,890	$2M	added+9%	0.00 pp	2 q
POOLPool Corporation	0.02%	8,240	$3M	held	—	12 q
MMM3M Company	0.02%	27,840	$3M	trimmed−5%	0.00 pp	45 q
URIUnited Rentals, Inc.	0.02%	4,650	$3M	held	—	12 q
AONAon plc Class A	0.02%	8,760	$3M	added+17%	0.00 pp	7 q
BMYBristol-Myers Squibb Co.	0.01%	26,375	$1M	held	—	38 q
PAYXPaychex Inc	0.01%	9,830	$1M	held	—	45 q
RTXRTX Corporation	0.01%	17,756	$2M	trimmed−14%	−0.01 pp	45 q
LINLinde plc	0.01%	1,505	$660,409	held	—	6 q
SOLVSolventum Corporation	0.00%	6,635	$350,859	new	0.00 pp	new
MCOMoody's Corporation	—	−179,101	—	exited	−0.54 pp	—
99803EURLaboratory Crp Of Amer Hldgs	—	−32,300	—	exited	−0.05 pp	—
CBRECbre Group, Inc.	—	−35,770	—	exited	−0.03 pp	—