{
 "company": "Automatic Data Processing",
 "ticker": "ADP",
 "page": "https://www.moatshark.com/s/adp",
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holders": [
  {
   "manager": "Giverny Capital",
   "moatshark_slug": "giverny-capital",
   "period": "2026-06-30",
   "portfolio_pct": 4.93,
   "value_usd": 146587816,
   "change": "ADD",
   "share_change_pct": 56.2,
   "quarters_held": 2
  },
  {
   "manager": "Fundsmith",
   "moatshark_slug": "fundsmith",
   "period": "2026-06-30",
   "portfolio_pct": 4.27,
   "value_usd": 582620930,
   "change": "REDUCE",
   "share_change_pct": -32.5,
   "quarters_held": 39
  },
  {
   "manager": "First Eagle Investment Management",
   "moatshark_slug": "first-eagle-investment-management",
   "period": "2026-06-30",
   "portfolio_pct": 1.91,
   "value_usd": 1158701418,
   "change": "ADD",
   "share_change_pct": 81.6,
   "quarters_held": 2
  },
  {
   "manager": "Matrix Asset Advisors",
   "moatshark_slug": "matrix-asset-advisors",
   "period": "2026-09-30",
   "portfolio_pct": 1.15,
   "value_usd": 14015239,
   "change": "REDUCE",
   "share_change_pct": -3,
   "quarters_held": 3
  },
  {
   "manager": "Jensen Investment Management",
   "moatshark_slug": "jensen-investment-management",
   "period": "2026-06-30",
   "portfolio_pct": 0.45,
   "value_usd": 18474083,
   "change": "REDUCE",
   "share_change_pct": -21.4,
   "quarters_held": 53
  },
  {
   "manager": "Mairs & Power",
   "moatshark_slug": "mairs-power",
   "period": "2026-06-30",
   "portfolio_pct": 0.26,
   "value_usd": 28480393,
   "change": "ADD",
   "share_change_pct": 2.2,
   "quarters_held": 53
  },
  {
   "manager": "Troy Asset Management",
   "moatshark_slug": "troy-asset-management",
   "period": "2026-06-30",
   "portfolio_pct": 0,
   "value_usd": 0,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 24
  }
 ]
}