Jensen Investment

Q3 2024 13F · by Robert McIver, CEO

As of: Sep 30, 2024
Filed: Nov 4, 2024
US stock: $12.0B · prev $12.2B
Positions: 87 · prev 87
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%

Moves68 since the prior filing

+2.5 pp in · −2.6 pp out

New 1 +0.01 pp
Added 24 +2.48 pp
Trimmed 42 −2.62 pp
Exited 1 −0.03 pp

The book

Focused · behaves like 23 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 7.8% a year, about 12.8 years per position

Low
Moderate
High

Top 5 positions33% of US stock

MSFT Microsoft Corp trimmed−0.45 pp trimmed−0.457.6%
AAPL Apple Inc. trimmed+0.46 pp trimmed+0.467.2%
ACN Accenture PLC trimmed+0.77 pp trimmed+0.776.8%
MRSH Marsh trimmed+0.13 pp trimmed+0.135.7%
SYK Stryker Corporation trimmed+0.10 pp trimmed+0.105.5%

Positions87 in this filing · 1 exited


MSFTMicrosoft Corp	7.63%	2,121,385	$913M	trimmed−4%	−0.45 pp	46 q
AAPLApple Inc.	7.15%	3,667,698	$855M	trimmed−6%	+0.46 pp	38 q
ACNAccenture PLC	6.83%	2,312,038	$817M	trimmed−5%	+0.77 pp	46 q
MRSHMarsh	5.69%	3,050,831	$681M	trimmed−5%	+0.13 pp	14 q
SYKStryker Corporation	5.54%	1,833,422	$662M	trimmed−6%	+0.10 pp	46 q
GOOGLAlphabet Inc. Class A	5.19%	3,746,210	$621M	trimmed−20%	−1.83 pp	13 q
INTUIntuit Inc	5.11%	983,290	$611M	trimmed−5%	−0.48 pp	29 q
ADPAutomatic Data Processing	4.06%	1,755,115	$486M	trimmed−5%	+0.44 pp	46 q
MAMastercard Incorporated	3.94%	954,574	$471M	trimmed−6%	+0.29 pp	37 q
PEPPepsiCo, Inc.	3.68%	2,591,236	$441M	trimmed−5%	−0.02 pp	46 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	3.55%	727,035	$425M	trimmed−25%	−0.48 pp	46 q
ZTSZoetis Inc.	3.51%	2,150,370	$420M	added+9%	+0.72 pp	3 q
KLACKLA Corporation	3.50%	541,255	$419M	trimmed−5%	−0.35 pp	6 q
TXNTexas Instruments Incorporated	3.21%	1,861,240	$384M	trimmed−14%	−0.25 pp	24 q
EFXEquifax, Incorporated	3.05%	1,241,945	$365M	trimmed−18%	+0.06 pp	46 q
BRBroadridge Financial Solutions Inc	2.95%	1,643,215	$353M	trimmed−5%	+0.15 pp	30 q
PGProcter & Gamble Company	2.67%	1,843,369	$319M	trimmed−7%	−0.01 pp	46 q
WMWaste Management, Inc.	2.61%	1,501,810	$312M	trimmed−6%	−0.17 pp	17 q
NKENike, Inc.	2.54%	3,435,198	$304M	trimmed−7%	+0.27 pp	46 q
JNJJohnson & Johnson	2.29%	1,688,595	$274M	trimmed−11%	+0.02 pp	46 q
SHWThe Sherwin-Williams Company	1.73%	541,451	$207M	trimmed−5%	+0.34 pp	2 q
APHAmphenol Corporation	1.69%	3,095,660	$202M	trimmed−22%	−0.50 pp	46 q
HDHome Depot, Inc.	1.66%	490,113	$199M	trimmed−6%	+0.20 pp	17 q
MCDMcDonald's Corporation	1.57%	617,182	$188M	trimmed−6%	+0.20 pp	3 q
VRSKVerisk Analytics, Inc.	1.56%	698,267	$187M	trimmed−18%	−0.31 pp	17 q
CPRTCopart Inc	1.55%	3,536,233	$185M	added×25.7	+1.49 pp	19 q
BALLBall Corporation	1.30%	2,287,380	$155M	trimmed−9%	+0.07 pp	10 q
SBUXStarbucks Corp	1.07%	1,317,511	$128M	trimmed−64%	−1.26 pp	18 q
ORCLOracle Corp	0.21%	149,084	$25M	held	—	46 q
ADBEAdobe Inc.	0.19%	43,992	$23M	trimmed−0%	−0.01 pp	46 q
ECLEcolab, Inc.	0.15%	70,364	$18M	trimmed−0%	+0.01 pp	46 q
WATWaters Corp	0.14%	47,952	$17M	trimmed−3%	+0.02 pp	46 q
ABTAbbott Laboratories	0.10%	103,378	$12M	held	—	46 q
EMREmerson Electric Co.	0.09%	93,430	$10M	trimmed−1%	+0.01 pp	46 q
BDXBecton, Dickinson and Co.	0.08%	38,662	$9M	trimmed−4%	0.00 pp	46 q
CLXClorox Company	0.08%	58,155	$9M	added×2.1	+0.05 pp	46 q
KOCoca-Cola Company	0.08%	126,228	$9M	held	—	46 q
CTSHCognizant Technology Solutions	0.08%	125,609	$10M	trimmed−0%	+0.01 pp	46 q
CLColgate-Palmolive Company	0.08%	97,759	$10M	held	—	46 q
CCKCrown Holdings Inc.	0.08%	100,918	$10M	added+8%	+0.02 pp	36 q
GISGeneral Mills, Inc.	0.08%	130,715	$10M	added+6%	+0.02 pp	38 q
EHCEncompass Health Corporation	0.07%	92,210	$9M	trimmed−2%	0.00 pp	28 q
LHLabcorp Holdings Inc.	0.07%	36,590	$8M	added+3%	+0.01 pp	2 q
OMCOmnicom Group Inc.	0.07%	79,266	$8M	trimmed−0%	+0.01 pp	46 q
BAHBooz Allen Hamilton Holding Corporation	0.06%	43,060	$7M	added+39%	+0.02 pp	5 q
GPCGenuine Parts Company	0.06%	48,430	$7M	added+14%	+0.01 pp	40 q
KRThe Kroger Co.	0.06%	120,630	$7M	held	—	33 q
TSCOTractor Supply Co	0.06%	25,230	$7M	added+3%	+0.01 pp	29 q
GGenpact Limited	0.06%	189,985	$7M	added+6%	+0.01 pp	10 q
BBYBest Buy Company, Inc.	0.05%	56,875	$6M	trimmed−12%	+0.01 pp	42 q
CPBThe Campbell's Company	0.05%	125,028	$6M	added+3%	+0.01 pp	33 q
CHDChurch & Dwight Co., Inc.	0.05%	56,010	$6M	held	—	19 q
FDSFactset Research Systems	0.05%	12,000	$6M	added+12%	+0.01 pp	15 q
FFIVF5, Inc.	0.05%	24,940	$5M	trimmed−7%	+0.01 pp	20 q
KEYSKeysight Technologies, Inc.	0.05%	37,610	$6M	added+9%	+0.01 pp	6 q
MSCIMSCI, Inc.	0.05%	10,350	$6M	added+12%	+0.01 pp	3 q
MANHManhattan Associates Inc	0.05%	19,530	$5M	held	—	11 q
ABBVAbbvie Inc.	0.04%	22,227	$4M	held	—	46 q
TECHBio-Techne Corp.	0.04%	54,760	$4M	added+5%	+0.01 pp	7 q
DCIDonaldson Company, Inc.	0.04%	67,040	$5M	added+18%	+0.01 pp	21 q
GNTXGentex Corp	0.04%	172,120	$5M	added+11%	0.00 pp	14 q
LIILennox International Inc.	0.04%	8,200	$5M	trimmed−30%	−0.01 pp	25 q
LEVILevi Strauss & Co. Class A	0.04%	200,970	$4M	added+36%	+0.02 pp	18 q
ULTAUlta Beauty, Inc.	0.04%	11,330	$4M	added+18%	+0.01 pp	4 q
VEEVVeeva Systems Inc.	0.04%	23,251	$5M	added+10%	+0.01 pp	2 q
APDAir Products & Chemicals, Inc.	0.03%	13,170	$4M	added+65%	+0.01 pp	2 q
IDXXIdexx Laboratories Inc	0.03%	8,090	$4M	added+58%	+0.01 pp	2 q
MMSMAXIMUS, Inc.	0.03%	44,220	$4M	held	—	17 q
MCHPMicrochip Technology Inc	0.03%	46,850	$4M	trimmed−5%	−0.01 pp	17 q
TROWT Rowe Price Group Inc	0.03%	31,950	$3M	held	—	46 q
TJXTJX Companies, Inc. (The)	0.03%	27,951	$3M	trimmed−5%	0.00 pp	46 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.03%	20,368	$4M	held	—	18 q
MMM3M Company	0.03%	27,840	$4M	held	—	46 q
TTCToro Company (The)	0.03%	45,550	$4M	added+18%	0.00 pp	11 q
UPSUnited Parcel Service, Inc. Class B	0.03%	23,814	$3M	held	—	46 q
URIUnited Rentals, Inc.	0.03%	4,650	$4M	held	—	13 q
AONAon plc Class A	0.03%	8,760	$3M	held	—	8 q
CRLCharles River Laboratories International, Inc.	0.02%	12,180	$2M	trimmed−23%	−0.01 pp	10 q
ONON Semiconductor Corp	0.02%	40,710	$3M	added+20%	0.00 pp	3 q
RTXRTX Corporation	0.02%	17,756	$2M	held	—	46 q
BMYBristol-Myers Squibb Co.	0.01%	26,375	$1M	held	—	39 q
KELKellanova	0.01%	14,127	$1M	trimmed−86%	−0.04 pp	3 q
MARMarriott International Class A	0.01%	3,190	$793,034	new	+0.01 pp	new
PAYXPaychex Inc	0.01%	9,830	$1M	held	—	46 q
POOLPool Corporation	0.01%	4,750	$2M	trimmed−42%	−0.01 pp	13 q
LINLinde plc	0.01%	1,505	$717,674	held	—	7 q
SOLVSolventum Corporation	0.00%	6,635	$462,592	held	—	2 q
WSMWilliams-Sonoma, Inc.	—	−23,480	—	exited	−0.03 pp	—