Jensen Investment Management
Jensen Investment Management
Jensen Investment Management (Jensen Investment Management) discloses a $4.13B portfolio across 83 US-listed positions in the latest 13F filing (2026Q2, filed Aug 7, 2026). The largest holding is GOOGL at 6.9% of the book. The biggest move of the quarter: trimmed the GOOGL share count by 45% (position now $285M). Mechanically cloning this 13F returned 11.7%/yr over the past 12.2 years, versus 13.7%/yr for the S&P 500 across that identical 12.2-year window.
Holdings (83) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | GOOGL | 6.9% | $285M | |||
| 2 | MSFT | 6.7% | $275M | |||
| 3 | AMZN | 6.1% | $251M | |||
| 4 | AAPL | 6.0% | $249M | |||
| 5 | NVDA | 5.8% | $240M | |||
| 6 | KLAC | 5.8% | $238M | |||
| 7 | SYK | 4.5% | $186M | |||
| 8 | SHW | 4.5% | $186M | |||
| 9 | LLY | 4.5% | $184M | |||
| 10 | MA | 4.3% | $179M | |||
| 11 | MRSH | 4.0% | $164M | |||
| 12 | AVGO | 3.6% | $148M | |||
| 13 | WM | 3.4% | $141M | |||
| 14 | PG | 3.1% | $126M | |||
| 15 | CDNS | 2.8% | $116M | |||
| 16 | MSI | 2.8% | $116M | |||
| 17 | APH | 2.6% | $108M | |||
| 18 | ABT | 1.9% | $80M | |||
| 19 | VEEV | 1.9% | $80M | |||
| 20 | TJX | 1.8% | $76M | |||
| 21 | VRSK | 1.6% | $68M | |||
| 22 | META | 1.5% | $62M | |||
| 23 | MCD | 1.5% | $61M | |||
| 24 | EFX | 1.4% | $59M | |||
| 25 | CTAS | 1.4% | $57M | |||
| 26 | IDXX | 1.3% | $56M | |||
| 27 | BR | 1.3% | $52M | |||
| 28 | CPRT | 0.8% | $35M | |||
| 29 | ADP | 0.4% | $18M | |||
| 30 | ORCL | 0.4% | $17M | |||
| 31 | ECL | 0.4% | $16M | |||
| 32 | JGRW | 0.4% | $15M | |||
| 33 | WAT | 0.4% | $14M | |||
| 34 | PEP | 0.3% | $11M | |||
| 35 | CL | 0.3% | $11M | |||
| 36 | EMR | 0.3% | $11M | |||
| 37 | KO | 0.2% | $9M | |||
| 38 | AON | 0.2% | $9M | |||
| 39 | TSM | 0.2% | $8M | |||
| 40 | ADBE | 0.2% | $7M | |||
| 41 | ACN | 0.2% | $7M | |||
| 42 | CCK | 0.1% | $6M | |||
| 43 | CLX | 0.1% | $5M | |||
| 44 | LH | 0.1% | $4M | |||
| 45 | MMM | 0.1% | $4M | |||
| 46 | CTSH | 0.1% | $4M | |||
| 47 | EHC | 0.1% | $4M | |||
| 48 | GWW | 0.1% | $4M | |||
| 49 | TROW | 0.1% | $4M | |||
| 50 | ROST | 0.1% | $4M | |||
| 51 | MSCI | 0.1% | $4M | |||
| 52 | KR | 0.1% | $3M | |||
| 53 | RTX | 0.1% | $3M | |||
| 54 | KEYS | 0.1% | $3M | |||
| 55 | LEVI | 0.1% | $3M | |||
| 56 | FFIV | 0.1% | $3M | |||
| 57 | CHD | 0.1% | $3M | |||
| 58 | NKE | 0.1% | $3M | |||
| 59 | TSCO | 0.1% | $3M | |||
| 60 | ABBV | 0.1% | $3M | |||
| 61 | GNTX | 0.1% | $3M | |||
| 62 | JNJ | 0.1% | $2M | |||
| 63 | URI | 0.1% | $2M | |||
| 64 | TTC | 0.1% | $2M | |||
| 65 | G3922B107 | <0.1% | $2M | |||
| 66 | INTU | <0.1% | $2M | |||
| 67 | APD | <0.1% | $2M | |||
| 68 | OMC | <0.1% | $2M | |||
| 69 | NDSN | <0.1% | $1M | |||
| 70 | DCI | <0.1% | $1M | |||
| 71 | DOX | <0.1% | $1M | |||
| 72 | RACE | <0.1% | $998K | |||
| 73 | FICO | <0.1% | $884K | |||
| 74 | BAH | <0.1% | $772K | |||
| 75 | LIN | <0.1% | $669K | |||
| 76 | MANH | <0.1% | $565K | |||
| 77 | CPB | <0.1% | $484K | |||
| 78 | GIS | <0.1% | $437K | |||
| 79 | TXN | <0.1% | $372K | |||
| 80 | UNH | <0.1% | $357K | |||
| 81 | GPC | <0.1% | $315K | |||
| 82 | BDX | <0.1% | $309K | |||
| 83 | HD | <0.1% | $281K |
- port6.9%val$285MAlphabet Inc-cl Athis Q -45%·39q
- 2MSFTport6.7%val$275MMicrosoft Corpthis Q -37%·40q
- 3AMZNport6.1%val$251MAmazon.com Incthis Q hold·3q
- 4AAPLport6.0%val$249MApple Incthis Q -46%·40q
- 5NVDAport5.8%val$240MNvidia Corpthis Q -27%·5q
- 6KLACport5.8%val$238MKla Corpthis Q -52%·13q
- 7SYKport4.5%val$186MStryker Corpthis Q hold·40q
- 8SHWport4.5%val$186MSherwin-williams Co/thethis Q hold·9q
- 9LLYport4.5%val$184MEli Lilly & COthis Q -33%·5q
- 10MAport4.3%val$179MMastercard Inc - Athis Q -29%·40q
- 11MRSHport4.0%val$164MMarsh & Mclennan Costhis Q hold·21q
- 12AVGOport3.6%val$148MBroadcom Incthis Q hold·3q
- 13WMport3.4%val$141MWaste Management Incthis Q hold·24q
- 14PGport3.1%val$126MProcter & Gamble Co/thethis Q hold·40q
- 15CDNSport2.8%val$116MCadence Design Sys Incthis Q -39%·15q
- 16MSIport2.8%val$116MMotorola Solutions Incthis Q +64%·3q
- 17APHport2.6%val$108MAmphenol Corp-cl Athis Q +173%·40q
- 18ABTport1.9%val$80MAbbott Laboratoriesthis Q -40%·40q
- 19VEEVport1.9%val$80MVeeva Systems Inc-class Athis Q -21%·9q
- 20TJXport1.8%val$76MTjx Companies Incthis Q +2073%·40q
- 21VRSKport1.6%val$68MVerisk Analytics Incthis Q -21%·24q
- 22METAport1.5%val$62MMeta Platforms Inc-class Athis Q -68%·5q
- 23MCDport1.5%val$61MMcdonald's Corpthis Q hold·10q
- 24EFXport1.4%val$59MEquifax Incthis Q -53%·40q
- 25CTASport1.4%val$57MCintas Corpthis Q New·—1q
- 26IDXXport1.3%val$56MIdexx Laboratories Incthis Q +2861%·9q
- 27BRport1.3%val$52MBroadridge Financial Solutiothis Q -56%·37q
- 28CPRTport0.8%val$35MCopart Incthis Q -22%·26q
- 29ADPport0.4%val$18MAutomatic Data Processingthis Q -21%·40q
- 30ORCLport0.4%val$17MOracle Corpthis Q hold·40q
- 31ECLport0.4%val$16MEcolab Incthis Q hold·40q
- 32JGRWport0.4%val$15MJensen Quality Growth Etfthis Q hold·3q
- 33WATport0.4%val$14MWaters Corpthis Q hold·40q
- 34PEPport0.3%val$11MPepsico Incthis Q hold·40q
- 35CLport0.3%val$11MColgate-palmolive COthis Q hold·40q
- 36EMRport0.3%val$11MEmerson Electric COthis Q hold·40q
- 37KOport0.2%val$9MCoca-cola Co/thethis Q hold·40q
- 38AONport0.2%val$9MAon Plc Registered Shsthis Q hold·15q
- 39TSMport0.2%val$8MTaiwan Semiconductor-sp Adrthis Q hold·25q
- 40ADBEport0.2%val$7MAdobe Incthis Q hold·40q
- 41ACNport0.2%val$7MAccenture Plc Class Athis Q hold·40q
- 42CCKport0.1%val$6MCrown Holdings Incthis Q hold·40q
- 43CLXport0.1%val$5MClorox Companythis Q hold·40q
- 44LHport0.1%val$4MLabcorp Holdings Incthis Q hold·9q
- 45MMMport0.1%val$4M3M COthis Q hold·40q
- 46CTSHport0.1%val$4MCognizant Tech Solutions-athis Q hold·40q
- 47EHCport0.1%val$4MEncompass Health Corpthis Q -22%·35q
- 48GWWport0.1%val$4MWW Grainger Incthis Q hold·25q
- 49TROWport0.1%val$4MT Rowe Price Group Incthis Q hold·40q
- 50ROSTport0.1%val$4MRoss Stores Incthis Q -23%·7q
- 51MSCIport0.1%val$4MMsci Incthis Q hold·10q
- 52KRport0.1%val$3MKroger COthis Q hold·40q
- 53RTXport0.1%val$3MRtx Corpthis Q hold·25q
- 54KEYSport0.1%val$3MKeysight Technologies INthis Q -46%·13q
- 55LEVIport0.1%val$3MLevi Strauss & Co- Class Athis Q hold·25q
- 56FFIVport0.1%val$3MF5 Incthis Q -44%·27q
- 57CHDport0.1%val$3MChurch & Dwight CO Incthis Q hold·26q
- 58NKEport0.1%val$3MNike Inc -cl Bthis Q hold·40q
- 59TSCOport0.1%val$3MTractor Supply Companythis Q hold·36q
- 60ABBVport0.1%val$3MAbbvie Incthis Q hold·40q
- 61GNTXport0.1%val$3MGentex Corpthis Q hold·21q
- 62JNJport0.1%val$2MJohnson & Johnsonthis Q hold·40q
- 63URIport0.1%val$2MUnited Rentals Incthis Q hold·19q
- 64TTCport0.1%val$2MToro COthis Q hold·18q
- 65G3922B107port<0.1%val$2MGenpact Limitedthis Q -21%·17q
- 66INTUport<0.1%val$2MIntuit Incthis Q -93%·36q
- 67APDport<0.1%val$2MAir Products & Chemicals Incthis Q -29%·9q
- 68OMCport<0.1%val$2MOmnicom Groupthis Q hold·40q
- 69NDSNport<0.1%val$1MNordson Corpthis Q -38%·4q
- 70DCIport<0.1%val$1MDonaldson CO Incthis Q -42%·28q
- 71DOXport<0.1%val$1MAmdocs Limitedthis Q +22%·3q
- 72RACEport<0.1%val$998KFerrari N.v.this Q hold·3q
- 73FICOport<0.1%val$884KFair Isaac Corpthis Q -41%·4q
- 74BAHport<0.1%val$772KBooz Allen Hamilton Holdingsthis Q hold·12q
- 75LINport<0.1%val$669KLinde Plcthis Q hold·14q
- 76MANHport<0.1%val$565KManhattan Associates Incthis Q hold·18q
- 77CPBport<0.1%val$484KThe Campbell's Companythis Q -31%·40q
- 78GISport<0.1%val$437KGeneral Mills Incthis Q -30%·40q
- 79TXNport<0.1%val$372KTexas Instruments Incthis Q hold·32q
- 80UNHport<0.1%val$357KUnitedhealth Group Incthis Q -42%·40q
- 81GPCport<0.1%val$315KGenuine Parts COthis Q hold·40q
- 82BDXport<0.1%val$309KBecton Dickinson And COthis Q hold·40q
- 83HDport<0.1%val$281KHome Depot Incthis Q -45%·24q
Beyond the 13F
as of 2026-05-31Across Jensen Investment Management’s registered funds — $2.97B disclosed in SEC Form N-PORT — just 99.7% sits in US-listed equity, the only slice a 13F reports. The other $9M is cash — none of which a 13F can show.
Where the hidden money is
Largest positions no 13F shows
| First American Treasury Obliga · United States · USD | $9M |
From SEC Form N-PORT, which registered funds file with their full portfolio — every currency, asset class and short. Covers 1 fund. The percentage above is the composition of those funds, not a ratio between two filings: a 13F spans every discretionary account but only US-listed securities, while N-PORT covers only the registered funds but every asset inside them — different universes, so the totals are not comparable (the 13F itself reports $4.13B for 2026-06-30). None of this feeds the backtest above, which stays a pure 13F clone.
2026Q2 moves, by size (38)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| MSFT | Microsoft Corp | TRIM | 6.7% | -37% | $275M |
| GOOGL | Alphabet Inc-cl A | TRIM | 6.9% | -45% | $285M |
| AAPL | Apple Inc | TRIM | 6.0% | -46% | $249M |
| NVDA | Nvidia Corp | TRIM | 5.8% | -27% | $240M |
| KLAC | Kla Corp | TRIM | 5.8% | -52% | $238M |
| MA | Mastercard Inc - A | TRIM | 4.3% | -29% | $179M |
| LLY | Eli Lilly & CO | TRIM | 4.5% | -33% | $184M |
| META | Meta Platforms Inc-class A | TRIM | 1.5% | -68% | $62M |
| ABT | Abbott Laboratories | TRIM | 1.9% | -40% | $80M |
| CDNS | Cadence Design Sys Inc | TRIM | 2.8% | -39% | $116M |
| MSI | Motorola Solutions Inc | ADD | 2.8% | +64% | $116M |
| EFX | Equifax Inc | TRIM | 1.4% | -53% | $59M |
| BR | Broadridge Financial Solutio | TRIM | 1.3% | -56% | $52M |
| APH | Amphenol Corp-cl A | ADD | 2.6% | +173% | $108M |
| VEEV | Veeva Systems Inc-class A | TRIM | 1.9% | -21% | $80M |
| TJX | Tjx Companies Inc | ADD | 1.8% | +2073% | $76M |
| VRSK | Verisk Analytics Inc | TRIM | 1.6% | -21% | $68M |
| CTAS | Cintas Corp | NEW | 1.4% | +100% | $57M |
| IDXX | Idexx Laboratories Inc | ADD | 1.3% | +2861% | $56M |
| CPRT | Copart Inc | TRIM | 0.8% | -22% | $35M |
| INTU | Intuit Inc | TRIM | <0.1% | -93% | $2M |
| ADP | Automatic Data Processing | TRIM | 0.4% | -21% | $18M |
| EHC | Encompass Health Corp | TRIM | 0.1% | -23% | $4M |
| ROST | Ross Stores Inc | TRIM | 0.1% | -23% | $4M |
| KEYS | Keysight Technologies IN | TRIM | 0.1% | -46% | $3M |
| FFIV | F5 Inc | TRIM | 0.1% | -44% | $3M |
| G3922B107 | Genpact Limited | TRIM | <0.1% | -21% | $2M |
| APD | Air Products & Chemicals Inc | TRIM | <0.1% | -29% | $2M |
| DCI | Donaldson CO Inc | TRIM | <0.1% | -42% | $1M |
| NDSN | Nordson Corp | TRIM | <0.1% | -38% | $1M |
| BBY | Best Buy CO Inc | EXIT | <0.1% | -100% | $0 |
| DOX | Amdocs Limited | ADD | <0.1% | +22% | $1M |
| FICO | Fair Isaac Corp | TRIM | <0.1% | -41% | $884K |
| Y0547D153 | Bajaj Finance Limited | EXIT | <0.1% | -100% | $0 |
| CPB | The Campbell's Company | TRIM | <0.1% | -31% | $484K |
| GIS | General Mills Inc | TRIM | <0.1% | -30% | $437K |
| UNH | Unitedhealth Group Inc | TRIM | <0.1% | -42% | $357K |
| HD | Home Depot Inc | TRIM | <0.1% | -45% | $281K |
- TRIMMSFT6.7%Microsoft CorpΔ -37%·$275M
- TRIMGOOGL6.9%Alphabet Inc-cl AΔ -45%·$285M
- TRIMAAPL6.0%Apple IncΔ -46%·$249M
- TRIMNVDA5.8%Nvidia CorpΔ -27%·$240M
- TRIMKLAC5.8%Kla CorpΔ -52%·$238M
- TRIMMA4.3%Mastercard Inc - AΔ -29%·$179M
- TRIMLLY4.5%Eli Lilly & COΔ -33%·$184M
- TRIMMETA1.5%Meta Platforms Inc-class AΔ -68%·$62M
- TRIMABT1.9%Abbott LaboratoriesΔ -40%·$80M
- TRIMCDNS2.8%Cadence Design Sys IncΔ -39%·$116M
- ADDMSI2.8%Motorola Solutions IncΔ +64%·$116M
- TRIMEFX1.4%Equifax IncΔ -53%·$59M
- TRIMBR1.3%Broadridge Financial SolutioΔ -56%·$52M
- ADDAPH2.6%Amphenol Corp-cl AΔ +173%·$108M
- TRIMVEEV1.9%Veeva Systems Inc-class AΔ -21%·$80M
- ADDTJX1.8%Tjx Companies IncΔ +2073%·$76M
- TRIMVRSK1.6%Verisk Analytics IncΔ -21%·$68M
- NEWCTAS1.4%Cintas CorpΔ +100%·$57M
- ADDIDXX1.3%Idexx Laboratories IncΔ +2861%·$56M
- TRIMCPRT0.8%Copart IncΔ -22%·$35M
- TRIMINTU<0.1%Intuit IncΔ -93%·$2M
- TRIMADP0.4%Automatic Data ProcessingΔ -21%·$18M
- TRIMEHC0.1%Encompass Health CorpΔ -23%·$4M
- TRIMROST0.1%Ross Stores IncΔ -23%·$4M
- TRIMKEYS0.1%Keysight Technologies INΔ -46%·$3M
- TRIMFFIV0.1%F5 IncΔ -44%·$3M
- TRIMG3922B107<0.1%Genpact LimitedΔ -21%·$2M
- TRIMAPD<0.1%Air Products & Chemicals IncΔ -29%·$2M
- TRIMDCI<0.1%Donaldson CO IncΔ -42%·$1M
- TRIMNDSN<0.1%Nordson CorpΔ -38%·$1M
- EXITBBY<0.1%Best Buy CO IncΔ -100%·$0
- ADDDOX<0.1%Amdocs LimitedΔ +22%·$1M
- TRIMFICO<0.1%Fair Isaac CorpΔ -41%·$884K
- EXITY0547D153<0.1%Bajaj Finance LimitedΔ -100%·$0
- TRIMCPB<0.1%The Campbell's CompanyΔ -31%·$484K
- TRIMGIS<0.1%General Mills IncΔ -30%·$437K
- TRIMUNH<0.1%Unitedhealth Group IncΔ -42%·$357K
- TRIMHD<0.1%Home Depot IncΔ -45%·$281K
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.
2026Q2 brief
Jensen Investment Management's Q2 2026 13F reveals a decisive rebalancing within its $4.13B quality-growth portfolio — trimming mega-cap tech exposure while rotating proceeds into less-crowded compounders. The firm slashed KLAC by 52%, AAPL by 46%, GOOGL by 45%, and MSFT by 37%, yet all four remain top holdings (ranging 6.0–6.9% of the portfolio), suggesting valuation discipline rather than a wholesale exit from tech. The most telling moves are on the buy side: APH surged 173% to a 2.6% weight and TJX was effectively rebuilt from a rounding error to 1.8%, while IDXX was similarly reconstituted at 1.3% — signaling conviction in medical diagnostics and consumer-resilient retail as a hedge against AI-spend volatility. New position CTAS (1.4%) fits Jensen's hallmark ROIC focus, adding a recession-resilient B2B services compounder. The pattern is clear: rotating from peak-multiple AI-adjacent semis and hyperscalers toward durable, asset-light businesses with pricing power. Watch whether NVDA (still 5.8% after a 27% trim) sees further reduction next quarter — further cuts would confirm a structural de-rating of Jensen's AI hardware exposure.
AI-generated. Not investment advice.
Filing history
Jensen Investment Management's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 83 | $4.13B |
| Q1 2026 — what changed → | 84 | $5.07B |
| Q4 2025 — what changed → | 89 | $6.36B |
| Q3 2025 — what changed → | 87 | $8.06B |
| Q2 2025 — what changed → | 83 | $8.53B |
| Q1 2025 — what changed → | 84 | $9.04B |
| Q4 2024 holdings | 85 | $11.05B |
| Q3 2024 holdings | 87 | $11.96B |
| Q2 2024 holdings | 87 | $12.22B |
| Q1 2024 holdings | 84 | $13.09B |
| Q4 2023 holdings | 82 | $13.20B |
| Q3 2023 holdings | 83 | $12.65B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Multibaggers Jensen Investment Management held
Stocks up 5x or more since Jensen Investment Management first held them at conviction size — the holding record behind the returns. Longest unbroken run and largest book weight are shown for each.
- NVDA488xNVIDIA CORP4q straight · peak 6.61% · still holds
- AAPL19.9xAPPLE INC44q straight · peak 8.46% · still holds
- AVGO19.5xBROADCOM INC2q straight · peak 2.72% · still holds
- APH14.9xAMPHENOL CORP-CL A49q straight · peak 3.04% · still holds
- AMZN13.8xAMAZON.COM INC2q straight · peak 5.01% · still holds
- MSFT11.2xMICROSOFT CORP49q straight · peak 10.1% · still holds
Six biggest of 20. Price multiple since the first quarter we observed a conviction holding (2014Q1 at the earliest), not Jensen Investment Management's realized return — entry price and trades between filings aren't disclosed. Peak weight is share of disclosed US 13F book. All 129 multibaggers the cohort held →
Frequently asked questions
- What stocks does Jensen Investment Management own?
- As of 2026Q2, Jensen Investment Management's 13F discloses 83 positions worth $4.13B. The top five holdings: GOOGL (6.9%), MSFT (6.7%), AMZN (6.1%), AAPL (6.0%), NVDA (5.8%). 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 2026Q2, the filing shows 1 new position and 5 additions to existing holdings. The largest positions touched by buying: MSI, APH, TJX, CTAS, IDXX.
- How big is Jensen Investment Management's portfolio?
- $4.13B across 83 positions per the latest 13F (filed Aug 7, 2026). The top five holdings account for 32% of the disclosed book.
Similar portfolios
Explore more
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001106129). Not investment advice.