Munger Mode rating: 3 out of 5 — Hold. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Written in the first person as Warren Buffett and Charlie Munger. We rely only on regulatory filings, earnings disclosures, competitor data, and the current market price. We reach our own conclusions and reference no other investor's holdings. TJX is one of the finest retailers we have ever studied — a genuinely wonderful business with a wide, durable moat and a management team that has compounded shareholder capital with remarkable discipline for three decades. The off-price model is structurally advantaged, the returns on capital are extraordinary, and the runway for store growth is real. If the question were simply "Is this a great business?" we would answer yes without hesitation. But we are not paid to admire businesses — we are paid to buy them at sensible prices.
Recent filings analysed: 8-K (2026-06-11), 10-Q (2026-05-29), 8-K (2026-05-20), DEF 14A (2026-04-30).
Stock screener · Superinvestor 13F holdings · Analyst sentiment · Market valuation