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Jensen fund exits Intuit position amid concerns over earnings stability
The Jensen Quality Growth Equity Strategy cited weaker confidence in Intuit competitive advantages and earnings stability, and the stock closed at $296.33 on July 24, 2026.
Jensen Investment Management said it exited its position in Intuit Inc., citing a decline in confidence in two areas central to its process: the durability of Intuit’s competitive advantages and the stability of the company’s earnings.
In its Q2 2026 investor letter for the Jensen Quality Growth Equity Strategy, the fund said Intuit’s historical moat has relied on customer entrenchment in TurboTax and QuickBooks, high switching costs, and proprietary data.
The letter also discussed broader market conditions, noting that US equities posted their strongest quarter in nearly six years, supported by easing Iran-related tensions, improving financial conditions, resilient consumer spending, and continued AI infrastructure investment.
For context on Intuit’s recent trading, the shares closed at $296.33 per share on July 24, 2026. Jensen also reported Intuit’s one-month return at 5.16% and said the stock was down 64.18% over the past 52 weeks, while placing Intuit’s market capitalization at about $81.06 billion.