Jensen Investment Management
Jensen Investment Management
Jensen Investment Management (Jensen Investment Management) discloses a $5.07B portfolio across 84 US-listed positions in the latest 13F filing (2026Q1, filed May 5, 2026). The largest holding is MSFT at 8.5% of the book. The biggest move of the quarter: trimmed the NVDA share count by 28% (position now $285M). Latticework's clone backtest puts this 13F book at -2.3%/yr vs SPY over 12.0 years.
About Jensen Investment Management
Jensen Investment Management, a Portland, Oregon-based firm founded in 1988, runs a quality-growth equity strategy built around a proprietary screen: to be eligible for the portfolio, a company must have generated a return on equity of at least 15% in each of the past ten consecutive years. That filter produces a narrow eligible universe — typically fewer than 200 names — which shapes the 13F into something coherent: a concentrated-to-moderate book of durable, high-ROIC businesses across technology, healthcare, and consumer staples. The current top holdings — MSFT, GOOGL, AAPL, NVDA, AMZN — reflect how heavily the quality screen now overlaps with mega-cap technology. Jensen is a long-only, no-derivatives manager, so the 13F is a nearly complete picture of the portfolio with minimal structural distortion from undisclosed instruments. The 45-day lag matters modestly for a low-turnover strategy, but readers should note the backtest shows roughly -2.3% annual drag versus SPY over twelve years — consistent with a quality-tilt that carries a premium valuation and lags in momentum-driven markets.
2026Q1 brief
Jensen's $5.07B quality-growth book made its boldest move in semiconductors adjacent to AI infrastructure, nearly tripling its AVGO stake to 2.7% and nearly doubling VEEV to 2.0%, suggesting growing comfort with platform durability in chip design and vertical SaaS. Countering that, the firm trimmed NVDA by 28% (still 5.6% of the portfolio) — a telling rebalance that takes some semis profit while rotating into what Jensen may view as less crowded AI beneficiaries. The firm also cut consumer-facing defensives hard: MCD down 38% and WM down 35%, hinting at a quiet rotation away from inflation-era safe havens. With 84 positions and a disciplined ROE-screen mandate, Jensen runs concentrated-but-diversified — the top 5 at 35.4% reflects that balance. Watch whether AVGO and VEEV continue to climb the ladder in 2026Q2, as further adds would confirm a deliberate reconfiguration of Jensen's tech sleeve toward platform compounders over pure-play AI silicon.
AI-generated. Not investment advice.
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Holdings (84) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | MSFT | 8.5% | $433M | |||
| 2 | GOOGL | 8.2% | $417M | |||
| 3 | AAPL | 8.0% | $405M | |||
| 4 | NVDA | 5.6% | $285M | |||
| 5 | AMZN | 5.0% | $254M | |||
| 6 | MA | 4.8% | $245M | |||
| 7 | KLAC | 4.8% | $244M | |||
| 8 | SYK | 4.5% | $229M | |||
| 9 | LLY | 4.2% | $212M | |||
| 10 | SHW | 4.0% | $201M | |||
| 11 | MRSH | 3.9% | $200M | |||
| 12 | META | 3.8% | $195M | |||
| 13 | ABT | 3.0% | $153M | |||
| 14 | WM | 3.0% | $150M | |||
| 15 | PG | 2.8% | $144M | |||
| 16 | EFX | 2.8% | $141M | |||
| 17 | CDNS | 2.8% | $141M | |||
| 18 | BR | 2.7% | $139M | |||
| 19 | AVGO | 2.7% | $138M | |||
| 20 | VEEV | 2.0% | $100M | |||
| 21 | VRSK | 1.8% | $91M | |||
| 22 | MCD | 1.7% | $86M | |||
| 23 | MSI | 1.4% | $74M | |||
| 24 | CPRT | 1.0% | $53M | |||
| 25 | INTU | 0.9% | $45M | |||
| 26 | APH | 0.6% | $28M | |||
| 27 | ADP | 0.4% | $21M | |||
| 28 | ORCL | 0.3% | $18M | |||
| 29 | ECL | 0.3% | $16M | |||
| 30 | JGRW | 0.3% | $14M | |||
| 31 | PEP | 0.2% | $13M | |||
| 32 | ACN | 0.2% | $12M | |||
| 33 | WAT | 0.2% | $12M | |||
| 34 | CL | 0.2% | $10M | |||
| 35 | EMR | 0.2% | $10M | |||
| 36 | KO | 0.2% | $8M | |||
| 37 | AON | 0.2% | $8M | |||
| 38 | ADBE | 0.2% | $8M | |||
| 39 | CTSH | 0.1% | $7M | |||
| 40 | CCK | 0.1% | $6M | |||
| 41 | TSM | 0.1% | $6M | |||
| 42 | LH | 0.1% | $5M | |||
| 43 | EHC | 0.1% | $5M | |||
| 44 | KR | 0.1% | $5M | |||
| 45 | KEYS | 0.1% | $5M | |||
| 46 | CLX | 0.1% | $5M | |||
| 47 | ROST | 0.1% | $5M | |||
| 48 | TSCO | 0.1% | $4M | |||
| 49 | MSCI | 0.1% | $4M | |||
| 50 | MMM | 0.1% | $4M | |||
| 51 | NKE | 0.1% | $4M | |||
| 52 | FFIV | 0.1% | $4M | |||
| 53 | TJX | 0.1% | $4M | |||
| 54 | G3922B107 | 0.1% | $3M | |||
| 55 | GWW | 0.1% | $3M | |||
| 56 | RTX | 0.1% | $3M | |||
| 57 | CHD | 0.1% | $3M | |||
| 58 | GNTX | 0.1% | $3M | |||
| 59 | TROW | 0.1% | $3M | |||
| 60 | LEVI | 0.1% | $3M | |||
| 61 | ABBV | <0.1% | $2M | |||
| 62 | JNJ | <0.1% | $2M | |||
| 63 | APD | <0.1% | $2M | |||
| 64 | TTC | <0.1% | $2M | |||
| 65 | IDXX | <0.1% | $2M | |||
| 66 | DCI | <0.1% | $2M | |||
| 67 | NDSN | <0.1% | $2M | |||
| 68 | OMC | <0.1% | $2M | |||
| 69 | BBY | <0.1% | $2M | |||
| 70 | URI | <0.1% | $2M | |||
| 71 | FICO | <0.1% | $1M | |||
| 72 | DOX | <0.1% | $1M | |||
| 73 | BAH | <0.1% | $1M | |||
| 74 | RACE | <0.1% | $908K | |||
| 75 | Y0547D153 | <0.1% | $820K | |||
| 76 | CPB | <0.1% | $700K | |||
| 77 | GIS | <0.1% | $664K | |||
| 78 | LIN | <0.1% | $640K | |||
| 79 | MANH | <0.1% | $588K | |||
| 80 | HD | <0.1% | $481K | |||
| 81 | UNH | <0.1% | $403K | |||
| 82 | BDX | <0.1% | $336K | |||
| 83 | GPC | <0.1% | $283K | |||
| 84 | TXN | <0.1% | $272K |
- 1MSFTport8.5%val$433MMicrosoft Corpthis Q hold·40q
- port8.2%val$417MAlphabet Inc-cl Athis Q hold·38q
- 3AAPLport8.0%val$405MApple Incthis Q hold·40q
- 4NVDAport5.6%val$285MNvidia Corpthis Q -28%·4q
- 5AMZNport5.0%val$254MAmazon.com Incthis Q hold·2q
- 6MAport4.8%val$245MMastercard Inc - Athis Q hold·40q
- 7KLACport4.8%val$244MKla Corpthis Q hold·12q
- 8SYKport4.5%val$229MStryker Corpthis Q hold·40q
- 9LLYport4.2%val$212MEli Lilly & COthis Q hold·4q
- 10SHWport4.0%val$201MSherwin-williams Co/thethis Q hold·8q
- 11MRSHport3.9%val$200MMarsh & Mclennan Costhis Q hold·20q
- 12METAport3.8%val$195MMeta Platforms Inc-class Athis Q hold·4q
- 13ABTport3.0%val$153MAbbott Laboratoriesthis Q -21%·40q
- 14WMport3.0%val$150MWaste Management Incthis Q -35%·23q
- 15PGport2.8%val$144MProcter & Gamble Co/thethis Q -22%·40q
- 16EFXport2.8%val$141MEquifax Incthis Q hold·40q
- 17CDNSport2.8%val$141MCadence Design Sys Incthis Q hold·14q
- 18BRport2.7%val$139MBroadridge Financial Solutiothis Q hold·36q
- 19AVGOport2.7%val$138MBroadcom Incthis Q +150%·2q
- 20VEEVport2.0%val$100MVeeva Systems Inc-class Athis Q +83%·8q
- 21VRSKport1.8%val$91MVerisk Analytics Incthis Q hold·23q
- 22MCDport1.7%val$86MMcdonald's Corpthis Q -38%·9q
- 23MSIport1.4%val$74MMotorola Solutions Incthis Q hold·2q
- 24CPRTport1.0%val$53MCopart Incthis Q -26%·25q
- 25INTUport0.9%val$45MIntuit Incthis Q -62%·35q
- 26APHport0.6%val$28MAmphenol Corp-cl Athis Q hold·40q
- 27ADPport0.4%val$21MAutomatic Data Processingthis Q -83%·40q
- 28ORCLport0.3%val$18MOracle Corpthis Q hold·40q
- 29ECLport0.3%val$16MEcolab Incthis Q hold·40q
- 30JGRWport0.3%val$14MJensen Quality Growth Etfthis Q hold·2q
- 31PEPport0.2%val$13MPepsico Incthis Q hold·40q
- 32ACNport0.2%val$12MAccenture Plc Class Athis Q hold·40q
- 33WATport0.2%val$12MWaters Corpthis Q hold·40q
- 34CLport0.2%val$10MColgate-palmolive COthis Q hold·40q
- 35EMRport0.2%val$10MEmerson Electric COthis Q hold·40q
- 36KOport0.2%val$8MCoca-cola Co/thethis Q hold·40q
- 37AONport0.2%val$8MAon Plc Registered Shsthis Q +141%·14q
- 38ADBEport0.2%val$8MAdobe Incthis Q hold·40q
- 39CTSHport0.1%val$7MCognizant Tech Solutions-athis Q hold·40q
- 40CCKport0.1%val$6MCrown Holdings Incthis Q hold·40q
- 41TSMport0.1%val$6MTaiwan Semiconductor-sp Adrthis Q hold·24q
- 42LHport0.1%val$5MLabcorp Holdings Incthis Q hold·8q
- 43EHCport0.1%val$5MEncompass Health Corpthis Q hold·34q
- 44KRport0.1%val$5MKroger COthis Q hold·39q
- 45KEYSport0.1%val$5MKeysight Technologies INthis Q -39%·12q
- 46CLXport0.1%val$5MClorox Companythis Q -33%·40q
- 47ROSTport0.1%val$5MRoss Stores Incthis Q hold·6q
- 48TSCOport0.1%val$4MTractor Supply Companythis Q hold·35q
- 49MSCIport0.1%val$4MMsci Incthis Q -21%·9q
- 50MMMport0.1%val$4M3M COthis Q hold·40q
- 51NKEport0.1%val$4MNike Inc -cl Bthis Q hold·40q
- 52FFIVport0.1%val$4MF5 Incthis Q hold·26q
- 53TJXport0.1%val$4MTjx Companies Incthis Q hold·40q
- 54G3922B107port0.1%val$3MGenpact Limitedthis Q -20%·16q
- 55GWWport0.1%val$3MWW Grainger Incthis Q hold·25q
- 56RTXport0.1%val$3MRtx Corpthis Q hold·24q
- 57CHDport0.1%val$3MChurch & Dwight CO Incthis Q hold·25q
- 58GNTXport0.1%val$3MGentex Corpthis Q hold·20q
- 59TROWport0.1%val$3MT Rowe Price Group Incthis Q hold·40q
- 60LEVIport0.1%val$3MLevi Strauss & Co- Class Athis Q hold·24q
- 61ABBVport<0.1%val$2MAbbvie Incthis Q hold·40q
- 62JNJport<0.1%val$2MJohnson & Johnsonthis Q hold·40q
- 63APDport<0.1%val$2MAir Products & Chemicals Incthis Q hold·8q
- 64TTCport<0.1%val$2MToro COthis Q -46%·17q
- 65IDXXport<0.1%val$2MIdexx Laboratories Incthis Q hold·8q
- 66DCIport<0.1%val$2MDonaldson CO Incthis Q -42%·27q
- 67NDSNport<0.1%val$2MNordson Corpthis Q -42%·3q
- 68OMCport<0.1%val$2MOmnicom Groupthis Q -35%·40q
- 69BBYport<0.1%val$2MBest Buy CO Incthis Q hold·40q
- 70URIport<0.1%val$2MUnited Rentals Incthis Q hold·18q
- 71FICOport<0.1%val$1MFair Isaac Corpthis Q hold·3q
- 72DOXport<0.1%val$1MAmdocs Limitedthis Q +93%·2q
- 73BAHport<0.1%val$1MBooz Allen Hamilton Holdingsthis Q hold·11q
- 74RACEport<0.1%val$908KFerrari N.v.this Q hold·2q
- 75Y0547D153port<0.1%val$820KBajaj Finance Limitedthis Q hold·2q
- 76CPBport<0.1%val$700KThe Campbell's Companythis Q hold·39q
- 77GISport<0.1%val$664KGeneral Mills Incthis Q hold·40q
- 78LINport<0.1%val$640KLinde Plcthis Q hold·13q
- 79MANHport<0.1%val$588KManhattan Associates Incthis Q hold·17q
- 80HDport<0.1%val$481KHome Depot Incthis Q -41%·23q
- 81UNHport<0.1%val$403KUnitedhealth Group Incthis Q -62%·40q
- 82BDXport<0.1%val$336KBecton Dickinson And COthis Q hold·40q
- 83GPCport<0.1%val$283KGenuine Parts COthis Q hold·40q
- 84TXNport<0.1%val$272KTexas Instruments Incthis Q -86%·32q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| NVDA | Nvidia Corp | TRIM | 5.6% | -28% | $285M |
| ABT | Abbott Laboratories | TRIM | 3.0% | -21% | $153M |
| WM | Waste Management Inc | TRIM | 3.0% | -35% | $150M |
| PG | Procter & Gamble Co/the | TRIM | 2.8% | -22% | $144M |
| INTU | Intuit Inc | TRIM | 0.9% | -62% | $45M |
| AVGO | Broadcom Inc | ADD | 2.7% | +150% | $138M |
| ADP | Automatic Data Processing | TRIM | 0.4% | -83% | $21M |
| MCD | Mcdonald's Corp | TRIM | 1.7% | -38% | $86M |
| VEEV | Veeva Systems Inc-class A | ADD | 2.0% | +83% | $100M |
| CPRT | Copart Inc | TRIM | 1.0% | -26% | $53M |
| AON | Aon Plc Registered Shs | ADD | 0.2% | +141% | $8M |
| CLX | Clorox Company | TRIM | 0.1% | -33% | $5M |
| KEYS | Keysight Technologies IN | TRIM | 0.1% | -39% | $5M |
| MSCI | Msci Inc | TRIM | 0.1% | -21% | $4M |
| G3922B107 | Genpact Limited | TRIM | 0.1% | -20% | $3M |
| DCI | Donaldson CO Inc | TRIM | <0.1% | -42% | $2M |
| TTC | Toro CO | TRIM | <0.1% | -46% | $2M |
| FDS | Factset Research Systems Inc | EXIT | 0.1% | -100% | $0 |
| NDSN | Nordson Corp | TRIM | <0.1% | -42% | $2M |
| OMC | Omnicom Group | TRIM | <0.1% | -35% | $2M |
| HO1 | Hologic Inc | EXIT | <0.1% | -100% | $0 |
| TXN | Texas Instruments Inc | TRIM | <0.1% | -86% | $272K |
| DOX | Amdocs Limited | ADD | <0.1% | +93% | $1M |
| UNH | Unitedhealth Group Inc | TRIM | <0.1% | -62% | $403K |
| ON | ON Semiconductor | EXIT | <0.1% | -100% | $0 |
| HD | Home Depot Inc | TRIM | <0.1% | -41% | $481K |
| LULU | Lululemon Athletica Inc | EXIT | <0.1% | -100% | $0 |
| LSTR | Landstar System Inc | EXIT | <0.1% | -100% | $0 |
- TRIMNVDA5.6%Nvidia CorpΔ -28%·$285M
- TRIMABT3.0%Abbott LaboratoriesΔ -21%·$153M
- TRIMWM3.0%Waste Management IncΔ -35%·$150M
- TRIMPG2.8%Procter & Gamble Co/theΔ -22%·$144M
- TRIMINTU0.9%Intuit IncΔ -62%·$45M
- ADDAVGO2.7%Broadcom IncΔ +150%·$138M
- TRIMADP0.4%Automatic Data ProcessingΔ -83%·$21M
- TRIMMCD1.7%Mcdonald's CorpΔ -38%·$86M
- ADDVEEV2.0%Veeva Systems Inc-class AΔ +83%·$100M
- TRIMCPRT1.0%Copart IncΔ -26%·$53M
- ADDAON0.2%Aon Plc Registered ShsΔ +141%·$8M
- TRIMCLX0.1%Clorox CompanyΔ -33%·$5M
- TRIMKEYS0.1%Keysight Technologies INΔ -39%·$5M
- TRIMMSCI0.1%Msci IncΔ -21%·$4M
- TRIMG3922B1070.1%Genpact LimitedΔ -20%·$3M
- TRIMDCI<0.1%Donaldson CO IncΔ -42%·$2M
- TRIMTTC<0.1%Toro COΔ -46%·$2M
- EXITFDS0.1%Factset Research Systems IncΔ -100%·$0
- TRIMNDSN<0.1%Nordson CorpΔ -42%·$2M
- TRIMOMC<0.1%Omnicom GroupΔ -35%·$2M
- EXITHO1<0.1%Hologic IncΔ -100%·$0
- TRIMTXN<0.1%Texas Instruments IncΔ -86%·$272K
- ADDDOX<0.1%Amdocs LimitedΔ +93%·$1M
- TRIMUNH<0.1%Unitedhealth Group IncΔ -62%·$403K
- EXITON<0.1%ON SemiconductorΔ -100%·$0
- TRIMHD<0.1%Home Depot IncΔ -41%·$481K
- EXITLULU<0.1%Lululemon Athletica IncΔ -100%·$0
- EXITLSTR<0.1%Landstar System IncΔ -100%·$0
Frequently asked questions
- What stocks does Jensen Investment Management own?
- As of 2026Q1, Jensen Investment Management's 13F discloses 84 positions worth $5.07B. The top five holdings: MSFT (8.5%), GOOGL (8.2%), AAPL (8.0%), NVDA (5.6%), AMZN (5.0%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Jensen Investment Management buy this quarter?
- In 2026Q1, the filing shows 0 new positions and 4 additions to existing holdings. The largest positions touched by buying: AVGO, VEEV, AON, DOX.
- How big is Jensen Investment Management's portfolio?
- $5.07B across 84 positions per the latest 13F (filed May 5, 2026). The top five holdings account for 35% of the disclosed book.
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001106129). Not investment advice.