Jensen Investment Management, a US-based asset management firm, has released its fourth quarter investor letter for “Jensen’s Quality Growth Equity Strategy.” A copy of the letter can be downloaded here. The S&P 500 Index continued its rally in Q4 2025, which began in 2022. Jensen’s quality growth equity composite weakened the index in the fourth quarter. The strategy returned -0.55% (net) in Q4 2025 compared to 2.66% for the index. At the sector level, the portfolio’s relative underperformance was largely contributed by the industrial sector. The outperformance of low-quality stocks added up to relatively poor performance from a quality perspective. The market’s focus on megacap technology characterizes the current investment theme. The portfolio is well positioned to capitalize on the growth from AI and digital transformation, while maintaining its sustainability. The company prioritizes holding companies that can generate economic value over multiple phases, focusing on quality, cash flow generation, and sustainability for long-term shareholder returns. Please review the portfolio’s top five properties to gain insight into their key choices for 2025.
In its fourth quarter 2025 investor letter, Jensen’s quality growth equity strategy highlighted Amphenol Corporation (NYSE:APH). Amphenol Corporation (NYSE:APH) is a leading manufacturer of electrical, electronic and fiber optic connectors. On March 06, 2026, Amphenol Corporation (NYSE:APH) stock closed at $131.87 per share. Amphenol Corporation (NYSE:APH)’s one-month return was -8.55%, and its shares gained 113.42% over the past 52 weeks. Amphenol Corporation (NYSE:APH) has a market capitalization of $162.097 billion.
Jensen Quality Growth Equity Strategy said the following about Amphenol Corporation (NYSE:APH) in its fourth quarter 2025 investor letter:
“During the quarter, the Quality Growth Investments team eliminated positions in Accenture (ACN), Amphenol Corporation (NYSE:APH), and Zoetis (ZTS) from the portfolio.
