0001145549-20-021901.txt : 20200427 0001145549-20-021901.hdr.sgml : 20200427 20200427120511 ACCESSION NUMBER: 0001145549-20-021901 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200229 FILED AS OF DATE: 20200427 PERIOD START: 20200531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Jensen Quality Growth Fund Inc CENTRAL INDEX KEY: 0000887215 IRS NUMBER: 931086448 STATE OF INCORPORATION: OR FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-06653 FILM NUMBER: 20818293 BUSINESS ADDRESS: STREET 1: 5500 MEADOWS ROAD STREET 2: SUITE 200 CITY: LAKE OSWEGO STATE: OR ZIP: 97035 BUSINESS PHONE: 800-221-4384 MAIL ADDRESS: STREET 1: 5500 MEADOWS ROAD STREET 2: SUITE 200 CITY: LAKE OSWEGO STATE: OR ZIP: 97035 FORMER COMPANY: FORMER CONFORMED NAME: JENSEN QUALITY GROWTH FUND, INC. DATE OF NAME CHANGE: 20180323 FORMER COMPANY: FORMER CONFORMED NAME: JENSEN PORTFOLIO INC DATE OF NAME CHANGE: 19920929 0000887215 S000004905 The Jensen Quality Growth Fund Inc C000013259 J Shares JENSX C000013260 I Shares JENIX C000013261 R Shares JENRX C000175790 Y Shares JENYX NPORT-P 1 primary_doc.xml NPORT-P false 0000887215 XXXXXXXX S000004905 C000175790 C000013260 C000013261 C000013259 The Jensen Quality Growth Fund Inc. 811-06653 0000887215 549300N4RH1JD951Z611 5500 Meadows Road Suite 200 Lake Oswego 97035-8234 800-221-4384 Jensen Quality Growth Fund S000004905 549300YD4VZ4BERA3O05 2020-05-31 2020-02-29 N 7701149554.640000000000 7705172.540000000000 7693444382.100000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 N Alphabet Inc 5493006MHB84DD0ZWV18 Alphabet Inc 02079K305 309000.000000000000 NS USD 413828250.000000000000 5.3789724010 Long EC CORP US N 1 N N N Amphenol Corp 549300D3L3G0R4U4VT04 Amphenol Corp 032095101 567000.000000000000 NS USD 51982560.000000000000 0.6756734360 Long EC CORP US N 1 N N N Apple Inc HWUPKR0MPOU8FGXBT394 Apple Inc 037833100 1219000.000000000000 NS USD 333225840.000000000000 4.3312958858 Long EC CORP US N 1 N N N Becton Dickinson and Co ICE2EP6D98PQUILVRZ91 Becton Dickinson and Co 075887109 2111000.000000000000 NS USD 502038020.000000000000 6.5255299846 Long EC CORP US N 1 N N N Broadridge Financial Solutions N/A Broadridge Financial Solutions Inc 11133T103 1578000.000000000000 NS USD 164680080.000000000000 2.1405247354 Long EC CORP US N 1 N N N Cognizant Technology Solutions 5493006IEVQEFQO40L83 Cognizant Technology Solutions Corp 192446102 3935000.000000000000 NS USD 239759550.000000000000 3.1164136386 Long EC CORP US N 1 N N N Ecolab Inc 82DYEISM090VG8LTLS26 Ecolab Inc 278865100 424000.000000000000 NS USD 76510800.000000000000 0.9944934440 Long EC CORP US N 1 N N N Emerson Electric Co FGLT0EWZSUIRRITFOA30 Emerson Electric Co 291011104 2394000.000000000000 NS USD 153479340.000000000000 1.9949366289 Long EC CORP US N 1 N N N First American Treasury Obliga N/A First American Treasury Obligations Fund 31846V328 225151686.540000000000 NS USD 225151686.540000000000 2.9265394712 Long STIV RF US N 1 N N N General Mills Inc 2TGYMUGI08PO8X8L6150 General Mills Inc 370334104 4774000.000000000000 NS USD 233926000.000000000000 3.0405886932 Long EC CORP US N 1 N N N Intuit Inc VI90HBPH7XSFMB9E4M29 Intuit Inc 461202103 827000.000000000000 NS USD 219857950.000000000000 2.8577310640 Long EC CORP US N 1 N N N Johnson & Johnson 549300G0CFPGEF6X2043 Johnson and Johnson 478160104 3366000.000000000000 NS USD 452659680.000000000000 5.8837064066 Long EC CORP US N 1 N N N Mastercard Inc AR5L2ODV9HN37376R084 Mastercard Inc 57636Q104 472000.000000000000 NS USD 136998000.000000000000 1.7807108649 Long EC CORP US N 1 N N N Microsoft Corp INR2EJN1ERAN0W5ZP974 Microsoft Corp 594918104 3372000.000000000000 NS USD 546297720.000000000000 7.1008210740 Long EC CORP US N 1 N N N NIKE Inc 787RXPR0UX0O0XUXPZ81 NIKE Inc 654106103 3046000.000000000000 NS USD 272251480.000000000000 3.5387463206 Long EC CORP US N 1 N N N Omnicom Group Inc HKUPACFHSSASQK8HLS17 Omnicom Group Inc 681919106 2843000.000000000000 NS USD 196963040.000000000000 2.5601412088 Long EC CORP US N 1 N N N Oracle Corp 1Z4GXXU7ZHVWFCD8TV52 Oracle Corp 68389X105 5245000.000000000000 NS USD 259417700.000000000000 3.3719318307 Long EC CORP US N 1 N N N PepsiCo Inc FJSUNZKFNQ5YPJ5OT455 PepsiCo Inc 713448108 4006000.000000000000 NS USD 528912180.000000000000 6.8748424468 Long EC CORP US N 1 N N N Pfizer Inc 765LHXWGK1KXCLTFYQ30 Pfizer Inc 717081103 7699000.000000000000 NS USD 257300580.000000000000 3.3444133371 Long EC CORP US N 1 N N N Procter & Gamble Co/The 2572IBTT8CCZW6AU4141 Procter and Gamble Co/The 742718109 458000.000000000000 NS USD 51859340.000000000000 0.6740718126 Long EC CORP US N 1 N N N Stryker Corp 5493002F0SC4JTBU5137 Stryker Corp 863667101 1122000.000000000000 NS USD 213841980.000000000000 2.7795350090 Long EC CORP US N 1 N N N TJX Cos Inc/The V167QI9I69W364E2DY52 TJX Cos Inc/The 872540109 2014600.000000000000 NS USD 120473080.000000000000 1.5659186447 Long EC CORP US N 1 N N N Texas Instruments Inc WDJNR2L6D8RWOEB8T652 Texas Instruments Inc 882508104 1124000.000000000000 NS USD 128293360.000000000000 1.6675672641 Long EC CORP US N 1 N N N 3M Co LUZQVYP4VS22CLWDAR65 3M Co 88579Y101 2674600.000000000000 NS USD 399157304.000000000000 5.1882782818 Long EC CORP US N 1 N N N United Parcel Service Inc D01LMJZU09ULLNCY6Z23 United Parcel Service Inc 911312106 2455000.000000000000 NS USD 222152950.000000000000 2.8875616560 Long EC CORP US N 1 N N N United Technologies Corp I07WOS4YJ0N7YRFE7309 United Technologies Corp 913017109 3371000.000000000000 NS USD 440218890.000000000000 5.7220000319 Long EC CORP US N 1 N N N UnitedHealth Group Inc 549300GHBMY8T5GXDE41 UnitedHealth Group Inc 91324P102 1275000.000000000000 NS USD 325074000.000000000000 4.2253376232 Long EC CORP US N 1 N N N VF Corp CWAJJ9DJ5Z7P057HV541 VF Corp 918204108 2847000.000000000000 NS USD 204984000.000000000000 2.6643982827 Long EC CORP US N 1 N N N Accenture PLC N/A Accenture PLC G1151C101 1683000.000000000000 NS USD 303932970.000000000000 3.9505448393 Long EC CORP IE N 1 N N N 2020-03-30 The Jensen Quality Growth Fund Inc. /s/Shannon Contreras The Jensen Quality Growth Fund Inc. Treasurer XXXX NPORT-EX 2 jensenqualitygrowth-nport.htm NPORT-EX

Jensen Quality Growth Fund Schedule of Investments

February 29, 2020 (Unaudited) (showing percentage of total net assets)

Shares

 

 

Value

 

COMMON STOCKS - 97.06%

 

 

 

Aerospace & Defense - 5.73%

 

 

3,371,000

United Technologies Corporation

$

440,218,890

 

Air Freight & Logistics - 2.89%

 

 

2,455,000

United Parcel Service, Inc. - Class B

 

222,152,950

 

Beverages - 6.89%

 

 

4,006,000

PepsiCo, Inc.

 

528,912,180

 

Chemicals - 1.00%

 

 

424,000

Ecolab, Inc.

 

76,510,800

 

Electrical Equipment - 2.00%

 

 

2,394,000

Emerson Electric Company

 

153,479,340

 

Electronic Equipment, Instruments & Components - 0.68%

 

 

567,000

Amphenol Corporation. - Class A

 

51,982,560

 

Food Products - 3.05%

 

 

4,774,000

General Mills, Inc.

 

233,926,000

 

Health Care Equipment & Supplies - 9.33%

 

 

2,111,000

Becton Dickinson & Company

 

502,038,020

1,122,000

Stryker Corporation

 

213,841,980

 

 

 

715,880,000

 

Health Care Providers & Services - 4.23%

 

 

1,275,000

UnitedHealth Group, Inc.

 

325,074,000

 

Household Products - 0.68%

 

 

458,000

The Procter & Gamble Company

 

51,859,340

 

Industrial Conglomerates - 5.20%

 

 

2,674,600

3M Company

 

399,157,304

 

Interactive Media & Services - 5.39%

 

 

309,000

Alphabet, Inc. - Class A (a)

 

413,828,250

 

IT Services - 11.01%

 

 

1,683,000

Accenture PLC - Class A (b)

 

303,932,970

1,578,000

Broadridge Financial Solutions, Inc.

 

164,680,080

3,935,000

Cognizant Technology Solutions Corporation - Class A

 

239,759,550

472,000

Mastercard, Inc. - Class A

 

136,998,000

 

 

 

845,370,600

 

Media - 2.57%

.

 

2,843,000

Omnicom Group, Inc.

 

196,963,040

 

Pharmaceuticals - 9.25%

 

 

3,366,000

Johnson & Johnson

 

452,659,680

7,699,000

Pfizer, Inc.

 

257,300,580

 

 

 

709,960,260

 

Semiconductors & Semiconductor Equipment - 1.67%

 

 

1,124,000

Texas Instruments, Inc.

 

128,293,360

 

Software - 13.36%

 

 

827,000

Intuit, Inc.

 

219,857,950

3,372,000

Microsoft Corporation

 

546,297,720

5,245,000

Oracle Corporation

 

259,417,700

 

 

 

1,025,573,370

 

Specialty Retail - 1.57%

 

 

2,014,600

The TJX Companies, Inc.

 

120,473,080

 

Technology Hardware, Storage & Peripherals - 4.34%

 

 

1,219,000

Apple, Inc.

 

333,225,840

 

Textiles, Apparel & Luxury Goods - 6.22%

 

 

3,046,000

NIKE, Inc. - Class B

 

272,251,480

2,847,000

VF Corporation.

 

204,984,000

 

 

 

477,235,480

 

Total Common Stocks (Cost $4,879,222,833)

 

7,450,076,644

 

Short-Term Investment - 2.93%

 

 

 

Money Market Fund- 2.93%

 

 

225,151,687

First American Treasury Obligations Fund - Class X, 1.492% (c)

 

225,151,687

 

Total Short-Term Investment (Cost $225,151,687)

 

225,151,687

 

Total Investments (Cost $5,104,374,520) - 99.99%

 

7,675,228,331

 

Other Assets in Excess of Liabilities - 0.01%

 

939,707

 

TOTAL NET ASSETS - 100.00%

$

7,676,168,038

 

 

 

 

Percentages are stated as a percent of net assets.

(a)Non-income producing security.

(b)Foreign issued security. Foreign concentration (including ADRs) was as follows: Ireland 3.96% as a percentage of net assets.

(c)Variable rate security. Rate listed is the 7-day effective yield as of February 29, 2020.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.

The accompanying footnotes are an integral part of the Financial Statements.

Notes to Schedule of Investments

February 29, 2020 (Unaudited)

Jensen Quality Growth Fund

Fair Value Measurement

The Fund has adopted authoritative fair valuation accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. The three levels of the fair value hierarchy are as follows:

Level 1 - Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the measurement date.

Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active and prices for similar securities, interest rates, credit risk, etc.

Level 3 - Inputs that are unobservable (including the Fund's own assumptions in determining the fair value of investments).

Inputs refer broadly to the assumptions that market participants use to make valuation decisions, including assumptions about risk. Inputs may include price information, volatility statistics, specific and broad credit data, liquidity statistics, and other factors. A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. However, the determination of what constitutes "observable" requires significant judgment by the Fund. The Fund considers observable data to be that market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. The categorization of a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the Fund's perceived risk of that instrument.

Investments whose values are based on quoted market prices in active markets, include common stocks and certain money market securities, and are classified within Level 1. Investments that trade in markets that are not considered to be active, but are valued based on quoted marke prices, dealer quotations or alternative pricing sources supported by observable inputs are classified within Level 2. Investments classified within Level 3 have significant unobservable inputs, as they trade infrequently or not at all.

The following is a summary of the inputs used, as of February 29, 2020, to value the Fund's investments carried at fair value. The inputs and methodology used for valuing securities may not be an indication of the risk associated with investing in those securities.

Investments at Value

 

Total

 

Level 1

 

Level 2

 

Level 3

Total Common Stocks*

$

7,450,076,644

$

7,450,076,644

$

-

$

-

Total Money Market Fund

 

225,151,687

 

225,151,687

 

-

 

-

Total Investments

$

7,675,228,331

$

7,675,228,331

$

-

$

-

 

 

 

 

 

 

 

 

 

* For further information regarding security characteristics and industry classifications, please see the Schedule of Investments.

The Fund did not hold any investments during the period ended February 29, 2020 with significant unobservable inputs which would be classified as Level 3. The Fund did not hold any derivative instruments during the reporting period.