In a recent 13F filing, Jensen Investment Management disclosed a significant reduction in its holdings of McDonald's Corp. (MCD). These filings are backward-looking, reflecting trades made during the third quarter ending September 30, 2026. The firm sold over 219,000 shares, slashing its position by approximately 97% to just 6,180 shares. This liquidation reduced the reported value of their stake from $60.97 million to $1.43 million.
In a commentary on their website, Jensen Investment Management stated that while they still see McDonald's as a high-quality business, concerns over pressured traffic, diminished pricing flexibility, and franchisee tension led to the decision. The firm also cited mounting execution challenges and the potential threat from the increasing adoption of GLP-1 weight-loss drugs as factors that reduced their confidence in the company's long-term growth.