| Jensen Quality Growth Fund |
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| Schedule of Investments |
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| August 31, 2022 (Unaudited) (showing as a percentage of total net assets) |
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Shares |
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| Value |
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| COMMON STOCKS - 97.63% |
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| Air Freight & Logistics - 1.97% |
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986,000 |
| United Parcel Service, Inc. - Class B |
| $ 191,786,860 |
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| Beverages - 6.65% |
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3,756,000 |
| PepsiCo, Inc. |
| 647,046,120 |
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| Commercial Services & Supplies - 2.31% |
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1,332,000 |
| Waste Management, Inc. |
| 225,147,960 |
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| Containers & Packaging - 1.18% |
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2,060,000 |
| Ball Corporation |
| 114,968,600 |
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| Diversified Financial Services - 1.48% |
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507,000 |
| Moody's Corporation |
| 144,251,640 |
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| Electronic Equipment, Instruments & Components - 1.30% |
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1,728,000 |
| Amphenol Corporation - Class A |
| 127,059,840 |
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| Health Care Equipment & Supplies - 8.46% |
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1,673,000 |
| Becton Dickinson and Company |
| 422,298,660 |
1,955,000 |
| Stryker Corporation |
| 401,166,000 |
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| 823,464,660 |
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| Health Care Providers & Services - 4.75% |
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891,000 |
| UnitedHealth Group, Inc. |
| 462,723,030 |
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| Hotels, Restaurants & Leisure - 2.99% |
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3,462,000 |
| Starbucks Corporation |
| 291,050,340 |
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| Household Products - 2.64% |
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1,863,000 |
| The Procter & Gamble Company |
| 256,982,220 |
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| Industrial Conglomerates - 2.50% |
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1,954,600 |
| 3M Company |
| 243,054,510 |
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| Insurance - 2.71% |
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1,633,000 |
| Marsh & McLennan Companies, Inc. |
| 263,517,210 |
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| Interactive Media & Services - 5.91% |
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5,320,000 |
| Alphabet, Inc. - Class A (a) |
| 575,730,400 |
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| IT Services - 16.08% |
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1,561,000 |
| Accenture PLC - Class A (b) |
| 450,286,060 |
1,732,000 |
| Automatic Data Processing, Inc. |
| 423,318,120 |
1,354,000 |
| Broadridge Financial Solutions, Inc. |
| 231,764,180 |
3,137,000 |
| Cognizant Technology Solutions Corporation - Class A |
| 198,164,290 |
807,000 |
| Mastercard, Inc. - Class A |
| 261,766,590 |
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| 1,565,299,240 |
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| Pharmaceuticals - 8.57% |
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2,906,000 |
| Johnson & Johnson |
| 468,854,040 |
8,074,000 |
| Pfizer, Inc. |
| 365,187,020 |
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| 834,041,060 |
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| Professional Services - 3.27% |
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967,000 |
| Equifax, Inc. |
| 182,521,250 |
728,000 |
| Verisk Analytics, Inc. |
| 136,252,480 |
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| 318,773,730 |
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| Semiconductors & Semiconductor Equipment - 2.44% |
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1,436,000 |
| Texas Instruments, Inc. |
| 237,241,560 |
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| Software - 9.09% |
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657,000 |
| Intuit, Inc. |
| 283,679,460 |
2,301,000 |
| Microsoft Corporation |
| 601,642,470 |
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| 885,321,930 |
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| Specialty Retail - 4.32% |
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722,000 |
| Home Depot, Inc. |
| 208,239,240 |
3,412,600 |
| The TJX Companies, Inc. |
| 212,775,610 |
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| 421,014,850 |
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| Technology Hardware, Storage & Peripherals - 5.29% |
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3,277,000 |
| Apple, Inc. |
| 515,209,940 |
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| Textiles, Apparel & Luxury Goods - 3.72% |
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3,407,000 |
| NIKE, Inc. - Class B |
| 362,675,150 |
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| Total Common Stocks (Cost $5,399,435,922) |
| 9,506,360,850 |
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| Short-Term Investment - 2.21% |
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| Money Market Fund - 2.21% |
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215,559,868 |
| First American Treasury Obligations Fund - Class X, 2.140% (c) |
| 215,559,868 |
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| Total Short-Term Investment (Cost $215,559,868) |
| 215,559,868 |
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| Total Investments (Cost $5,614,995,790) - 99.84% |
| 9,721,920,718 |
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| Other Assets in Excess of Liabilities - 0.16% |
| 15,376,969 |
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| TOTAL NET ASSETS - 100.00% |
| $ 9,737,297,687 |
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| Percentages are stated as a percent of net assets. |
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| PLC | - Public Limited Company |
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| (a) | Non-income producing security. |
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| (b) | Foreign issued security. Foreign concentration (including ADRs) was as follows: Ireland 4.62% as a percentage of net assets. |
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| (c) | Variable rate security. Rate listed is the 7-day effective yield as of August 31, 2022. |
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