Jensen Investment Management Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Jensen Investment Management Inc. reported 83 stock positions worth $8.5 billion. Its top holding was Microsoft (MSFT) at 9.1% of the portfolio, followed by Stryker (SYK, 6.6%) and Marsh & McLennan Cos (MRSH, 6.2%). Compared with Q1 2025, it opened 3 new positions, sold out of 4, added to 15 and reduced 48. The biggest buy was a new position in Nvidia (NVDA) and the biggest sale Unitedhealth (UNH, shares −98%).

Most Recent 13F
Q2 2026
Location
Lake Oswego, OR
CIK
0001106129
Portfolio Value
$8.5B (Q2 2025)
SEC Filing
0001171200-25-000262 ↗ filed Aug 8, 2025

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $13.1B Q1 2024 Q2 2024: $12.2B Q2 2024 Q3 2024: $12.0B Q3 2024 Q4 2024: $11.0B Q4 2024 Q1 2025: $9.0B Q1 2025 Q2 2025: $8.5B $8.5B Q2 2025 Q3 2025: $8.1B Q3 2025 Q4 2025: $6.4B Q4 2025 Q1 2026: $5.1B Q1 2026 Q2 2026: $4.1B Q2 2026

Holdings 83 stocks · $8.5B
MSFT Microsoft Corp. 9.15% 1,569,529 $780.7M Reduce -11.7%
SYK Stryker Corp. 6.57% 1,417,621 $560.9M Reduce -6.6%
MRSH Marsh & McLennan Cos 6.21% 2,423,637 $529.9M Reduce -7.8%
INTU Intuit Inc. 5.80% 628,445 $495.0M Reduce -24.2%
AAPL Apple Inc. 5.57% 2,317,269 $475.4M Reduce -18.0%
GOOGL Alphabet Inc. Class A 4.91% 2,375,178 $418.6M Reduce -14.3%
ACN Accenture PLC Class A 4.65% 1,327,010 $396.6M Reduce -27.7%
MA Mastercard Inc. Class A 4.09% 620,967 $348.9M Reduce -9.9%
KLAC KLA Corp. 4.08% 389,028 $348.5M Reduce -14.7%
ABT Abbott Laboratories 3.79% 2,378,563 $323.5M Add +74.2%
BR Broadridge Financial Solutio 3.69% 1,297,083 $315.2M Reduce -6.5%
ADP Automatic Data Processing 3.40% 940,786 $290.1M Reduce -26.7%
NVDA Nvidia Corp. 3.24% 1,747,996 $276.2M New
WM Waste Management Inc. 3.15% 1,174,028 $268.6M Reduce -7.9%
EFX Equifax Inc. 3.12% 1,026,607 $266.3M Reduce -3.7%
CPRT Copart Inc. 3.06% 5,315,861 $260.8M Add +39.5%
APH Amphenol Corp. Class A 3.02% 2,612,009 $257.9M Add +3.8%
CDNS Cadence Design SYS Inc. 2.97% 823,396 $253.7M Add +50.5%
ZTS Zoetis Inc. 2.95% 1,615,431 $251.9M Reduce -11.3%
PG The Procter & Gamble Co. 2.67% 1,431,200 $228.0M Reduce -4.1%
SHW The Sherwin-Williams Co. 2.25% 558,255 $191.7M Reduce -4.0%
LLY Eli Lilly & Co. 1.89% 206,612 $161.1M New
META Meta Platforms Inc. Class A 1.76% 203,412 $150.1M New
MCD McDonald's Corp. 1.71% 499,014 $145.8M Reduce -4.1%
VRSK Verisk Analytics Inc. 1.03% 281,734 $87.8M Reduce -14.4%
JNJ Johnson & Johnson 0.75% 416,198 $63.6M Reduce -32.3%
HD Home Depot Inc. 0.69% 160,587 $58.9M Reduce -46.9%
ORCL Oracle Corp. 0.37% 145,209 $31.7M Reduce -1.3%
ECL Ecolab Inc. 0.21% 67,986 $18.3M Reduce -1.4%
ADBE Adobe Inc. 0.20% 43,992 $17.0M No change
WAT Waters Corp. 0.18% 43,936 $15.3M Reduce -0.9%
PEP Pepsico Inc. 0.16% 104,162 $13.8M Reduce -90.3%
EMR Emerson Electric Co. 0.14% 92,600 $12.3M No change
CTSH Cognizant Tech Solutions-A 0.11% 123,726 $9.7M Reduce -1.0%
CL Colgate-Palmolive Co. 0.10% 97,699 $8.9M Reduce -0.1%
KO The Coca-Cola Co. 0.10% 124,478 $8.8M Reduce -0.2%
CLX Clorox Company 0.10% 70,965 $8.5M Add +5.6%
LH Labcorp Holdings Inc. 0.08% 27,340 $7.2M Reduce -4.1%
EHC Encompass Health Corp. 0.08% 57,560 $7.1M Reduce -18.7%
CCK Crown Holdings Inc. 0.08% 65,368 $6.7M Reduce -13.3%
G Genpact Ltd. 0.08% 148,195 $6.5M Add +3.8%
GIS General Mills Inc. 0.08% 125,215 $6.5M Add +2.0%
MSCI MSCI Inc. 0.07% 11,050 $6.4M Add +19.6%
NKE Nike Inc. Class B 0.07% 83,798 $6.0M Reduce -96.4%
VEEV Veeva Systems Inc. Class A 0.07% 20,411 $5.9M Reduce -6.6%
KEYS Keysight Technologies Inc. 0.07% 35,430 $5.8M Add +4.8%
TSCO Tractor Supply Company 0.07% 109,490 $5.8M Add +2.9%
KR Kroger Co. 0.07% 80,240 $5.8M Reduce -4.9%
IDXX Idexx Laboratories Inc. 0.07% 10,410 $5.6M Add +27.1%
OMC Omnicom Group 0.06% 76,066 $5.5M Reduce -0.7%
ROST Ross Stores Inc. 0.06% 39,930 $5.1M Add +5.6%
FDS Factset Research Systems Inc. 0.05% 10,400 $4.7M No change
DCI Donaldson Co. Inc. 0.05% 66,810 $4.6M No change
FFIV F5 Inc. 0.05% 14,990 $4.4M No change
MMM 3M Co. 0.05% 27,800 $4.2M Reduce -0.1%
ABBV Abbvie Inc. 0.05% 22,227 $4.1M No change
CPB The Campbell's Company 0.05% 133,568 $4.1M Add +0.8%
TSM Taiwan Semiconductor-SP ADR 0.05% 17,338 $3.9M Reduce -15.6%
BAH Booz Allen Hamilton Holdings 0.04% 36,880 $3.8M No change
HOLX Hologic Inc. 0.04% 58,230 $3.8M Add +13.4%
APD Air Products & Chemicals Inc. 0.04% 12,640 $3.6M No change
GNTX Gentex Corp. 0.04% 161,540 $3.6M No change
AON Aon PLC Class A 0.04% 9,800 $3.5M Add +11.0%
CHD Church & Dwight Co. Inc. 0.04% 36,150 $3.5M Reduce -20.7%
TXN Texas Instruments Inc. 0.04% 16,727 $3.5M Reduce -98.6%
UNH Unitedhealth Group Inc. 0.04% 10,406 $3.2M Reduce -98.3%
GPC Genuine Parts Co. 0.04% 26,604 $3.2M No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.04% 31,950 $3.1M No change
LEVI Levi Strauss & Co. Class A 0.03% 157,900 $2.9M Reduce -14.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.03% 23,249 $2.9M Reduce -11.8%
BBY Best Buy Co. Inc. 0.03% 41,675 $2.8M Reduce -12.0%
TTC Toro Co. 0.03% 39,470 $2.8M No change
MANH Manhattan Associates Inc. 0.03% 13,080 $2.6M Reduce -5.8%
RTX RTX Corp. 0.03% 17,586 $2.6M Reduce -0.5%
TECH Bio-Techne Corp. 0.03% 47,450 $2.4M No change
UPS United Parcel Service Class B 0.03% 21,840 $2.2M Reduce -0.1%
ON On Semiconductor 0.03% 41,450 $2.2M No change
BDX Becton Dickinson and Co. 0.03% 12,502 $2.2M Reduce -6.2%
URI United Rentals Inc. 0.02% 2,680 $2.0M No change
PAYX Paychex Inc. 0.02% 9,320 $1.4M Reduce -5.2%
BMY Bristol-Myers Squibb Co. 0.01% 26,375 $1.2M No change
K Kellanova 0.01% 11,432 $909K No change
LIN Linde PLC 0.01% 1,380 $647K Reduce -4.5%

Portfolio Sells Q1 2025 → Q2 2025
UNH Unitedhealth Group Inc. Reduce -98.3% 0.04% −3.48
TXN Texas Instruments Inc. Reduce -98.6% 0.04% −2.29
ACN Accenture PLC Class A Reduce -27.7% 4.65% −1.69
PEP Pepsico Inc. Reduce -90.3% 0.16% −1.62
NKE Nike Inc. Class B Reduce -96.4% 0.07% −1.55
AAPL Apple Inc. Reduce -18.0% 5.57% −1.37
ADP Automatic Data Processing Reduce -26.7% 3.40% −0.94
MRSH Marsh & McLennan Cos Reduce -7.8% 6.21% −0.89
HD Home Depot Inc. Reduce -46.9% 0.69% −0.53
JNJ Johnson & Johnson Reduce -32.3% 0.75% −0.38
ZTS Zoetis Inc. Reduce -11.3% 2.95% −0.36
PG The Procter & Gamble Co. Reduce -4.1% 2.67% −0.14
WM Waste Management Inc. Reduce -7.9% 3.15% −0.11
MCD McDonald's Corp. Reduce -4.1% 1.71% −0.09
MA Mastercard Inc. Class A Reduce -9.9% 4.09% −0.09
VRSK Verisk Analytics Inc. Reduce -14.4% 1.03% −0.06
BR Broadridge Financial Solutio Reduce -6.5% 3.69% −0.02
MCHP Microchip Technology Inc. Sold out 0.00% −0.02
CHD Church & Dwight Co. Inc. Reduce -20.7% 0.04% −0.01
LII Lennox International Inc. Sold out 0.00% −0.01
BDX Becton Dickinson and Co. Reduce -6.2% 0.03% −0.01
MAR Marriott International Class A Sold out 0.00% −0.01
SBUX Starbucks Corp. Sold out 0.00% −0.01
OMC Omnicom Group Reduce -0.7% 0.06% −0.01
BBY Best Buy Co. Inc. Reduce -12.0% 0.03% −0.01
TJX TJX Companies Inc. Reduce -11.8% 0.03% −0.00
PAYX Paychex Inc. Reduce -5.2% 0.02% −0.00
WAT Waters Corp. Reduce -0.9% 0.18% −0.00
UPS United Parcel Service Class B Reduce -0.1% 0.03% −0.00
LIN Linde PLC Reduce -4.5% 0.01% +0.00
SHW The Sherwin-Williams Co. Reduce -4.0% 2.25% +0.00
LEVI Levi Strauss & Co. Class A Reduce -14.6% 0.03% +0.00
CL Colgate-Palmolive Co. Reduce -0.1% 0.10% +0.00
EHC Encompass Health Corp. Reduce -18.7% 0.08% +0.00
MANH Manhattan Associates Inc. Reduce -5.8% 0.03% +0.00
RTX RTX Corp. Reduce -0.5% 0.03% +0.00
KR Kroger Co. Reduce -4.9% 0.07% +0.00
KO The Coca-Cola Co. Reduce -0.2% 0.10% +0.00
MMM 3M Co. Reduce -0.1% 0.05% +0.00
CCK Crown Holdings Inc. Reduce -13.3% 0.08% +0.00
CTSH Cognizant Tech Solutions-A Reduce -1.0% 0.11% +0.01
TSM Taiwan Semiconductor-SP ADR Reduce -15.6% 0.05% +0.01
LH Labcorp Holdings Inc. Reduce -4.1% 0.08% +0.01
VEEV Veeva Systems Inc. Class A Reduce -6.6% 0.07% +0.01
ECL Ecolab Inc. Reduce -1.4% 0.21% +0.02
ORCL Oracle Corp. Reduce -1.3% 0.37% +0.14
GOOGL Alphabet Inc. Class A Reduce -14.3% 4.91% +0.17
INTU Intuit Inc. Reduce -24.2% 5.80% +0.17
EFX Equifax Inc. Reduce -3.7% 3.12% +0.25
SYK Stryker Corp. Reduce -6.6% 6.57% +0.33

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. New 3.24% +3.24
LLY Eli Lilly & Co. New 1.89% +1.89
ABT Abbott Laboratories Add +74.2% 3.79% +1.79
META Meta Platforms Inc. Class A New 1.76% +1.76
CDNS Cadence Design SYS Inc. Add +50.5% 2.97% +1.43
APH Amphenol Corp. Class A Add +3.8% 3.02% +1.20
CPRT Copart Inc. Add +39.5% 3.06% +0.67
IDXX Idexx Laboratories Inc. Add +27.1% 0.07% +0.03
MSCI MSCI Inc. Add +19.6% 0.07% +0.02
KEYS Keysight Technologies Inc. Add +4.8% 0.07% +0.01
HOLX Hologic Inc. Add +13.4% 0.04% +0.01
ROST Ross Stores Inc. Add +5.6% 0.06% +0.01
TSCO Tractor Supply Company Add +2.9% 0.07% +0.00
AON Aon PLC Class A Add +11.0% 0.04% +0.00
G Genpact Ltd. Add +3.8% 0.08% −0.00
GIS General Mills Inc. Add +2.0% 0.08% −0.01
CLX Clorox Company Add +5.6% 0.10% −0.01
CPB The Campbell's Company Add +0.8% 0.05% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 83$4.1BGOOGL, MSFT, AMZN, AAPL, NVDA
Q1 2026 84$5.1BMSFT, GOOGL, AAPL, NVDA, AMZN
Q4 2025 89$6.4BMSFT, AAPL, GOOGL, NVDA, MA
Q3 2025 87$8.1BMSFT, AAPL, MRSH, SYK, GOOGL
Q2 2025 83$8.5BMSFT, SYK, MRSH, INTU, AAPL
Q1 2025 84$9.0BMSFT, MRSH, AAPL, ACN, SYK
Q4 2024 85$11.0BMSFT, AAPL, ACN, MRSH, SYK
Q3 2024 87$12.0BMSFT, AAPL, ACN, MRSH, SYK
Q2 2024 87$12.2BMSFT, GOOGL, AAPL, ACN, INTU
Q1 2024 84$13.1BMSFT, GOOGL, ACN, SYK, INTU