Inflation Resilience

Interest rates are rising in unison with inflation expectations. The resultant pressure on stock prices is twofold, one direct and one more subtle.

Company Highlight: Taiwan Semiconductor Manufacturing Co.

Taiwan Semiconductor Manufacturing Company (TSMC) is the world’s leading semiconductor chip foundry. As a foundry, TSMC manufactures chips on behalf of customers with the most cutting-edge manufacturing capabilities as defined by node size.

Holdings Update: Sell VFC

During the first quarter of 2021, the Investment Team sold VF Corporation (VFC) from the Jensen Quality Growth Model Portfolio (“Model Portfolio”).

Holdings Update: Buy VRSK

We expect Verisk to grow and create business value due to pricing power, end market growth, and new product development.

Quality Investing Headwinds

Our analysis suggests that high-quality stocks are caught between momentum growth sentiment on one side and a wave of government stimulus benefiting low-quality businesses on the other.

Company Highlight: Compass Group

Compass Group PLC is the largest food service company in the world, with operations in 45 countries across five sectors. Compass differentiates itself through its unique sectorization strategy, offering customized and innovative
solutions to clients under leading brands within distinct sectors.

Carbon in the Quality Value Strategy

A look at portfolio companies in Jensen’s Quality Value Strategy that play a prominent role in reducing or minimizing the amount of energy required to run their businesses.