Jennison Associates Portfolio holdings
Jennison Associates, founded in 1969 and headquartered in New York City, is a global investment management firm managing over $194 billion in assets as of late 2024, specializing in active equity and fixed-income strategies. A subsidiary of PGIM, the asset management arm of Prudential Financial, Jennison serves a diverse client base—including institutions, sub-advisory clients, public plans, endowments, and corporations—with a focus on fundamental research, bottom-up portfolio construction, and high-conviction investing. Known for its equity expertise across styles, geographies, and market capitalizations, as well as investment-grade fixed-income offerings, the firm employs seasoned portfolio managers averaging 29 years of industry experience and 16 years with Jennison. With additional offices in Boston and a culture emphasizing intellectual rigor and long-term client outcomes, Jennison has built a reputation for excellence and stability in the investment management industry.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Constellation Energy
CEG
|
+$924M |
| 2 |
Starbucks
SBUX
|
+$862M |
| 3 |
Spotify
SPOT
|
+$706M |
| 4 |
CAVA Group
CAVA
|
+$657M |
| 5 |
KKR & Co
KKR
|
+$592M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eaton
ETN
|
+$1.34B |
| 2 |
Microsoft
MSFT
|
+$1.07B |
| 3 |
Palo Alto Networks
PANW
|
+$1.06B |
| 4 |
Advanced Micro Devices
AMD
|
+$1.01B |
| 5 |
NVIDIA
NVDA
|
+$999M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.76% |
| 2 | Communication Services | 17.2% |
| 3 | Consumer Discretionary | 15.67% |
| 4 | Healthcare | 10.6% |
| 5 | Financials | 8.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
PepsiCo
PEP
$189B
| $46.8M | 0.03% |
311,796
-32,454
| -9% | -$4.83M |
|
|
GLDD
227
DELISTED
Great Lakes Dredge & Dock
GLDD
| $46.2M | 0.03% |
5,310,894
+981,652
| +23% | +$9.79M |
|
228
Comfort Systems
FIX
$61.1B
| $46M | 0.03% |
142,759
-21,731
| -13% | -$8.76M |
|
229
Casella Waste Systems
CWST
$5.82B
| $44.9M | 0.03% |
402,879
+5,618
| +1% | +$615K |
|
|
WCC
230
WESCO International
WCC
$18.2B
| $44.7M | 0.03% |
288,010
+131,043
| +83% | +$23.4M |
|
231
Phathom Pharmaceuticals
PHAT
$666M
| $44.2M | 0.03% |
7,042,325
-20,182
| -0.3% | -$123K |
|
232
First Interstate BancSystem
FIBK
$3.63B
| $43.4M | 0.03% |
1,515,973
-24,517
| -2% | -$760K |
|
233
Futu Holdings
FUTU
$15.5B
| $42.6M | 0.03% |
+416,313
| New | +$42.6M |
|
234
Vaxcyte
PCVX
$8.07B
| $42.5M | 0.03% |
1,125,720
-120,831
| -10% | -$9.66M |
|
|
NSA
235
DELISTED
National Storage Affiliates Trust
NSA
| $42.2M | 0.03% |
1,071,972
-249,761
| -19% | -$9.41M |
|
236
Bilibili
BILI
$7.78B
| $42.2M | 0.03% |
2,208,581
-76,683
| -3% | -$1.47M |
|
237
Freshpet
FRPT
$3.51B
| $41.4M | 0.03% |
497,987
-529,449
| -52% | -$64.8M |
|
238
MPLX
MPLX
$60.1B
| $41.3M | 0.03% |
771,694
-11,417
| -1% | -$598K |
|
239
Herc Holdings
HRI
$5.64B
| $40.2M | 0.03% |
299,527
+132,693
| +80% | +$22.6M |
|
240
Energy Transfer Partners
ET
$70B
| $40.2M | 0.03% |
2,161,564
-262,890
| -11% | -$5.12M |
|
241
Zurn Elkay Water Solutions
ZWS
$8.75B
| $39.8M | 0.03% |
1,205,297
-58,687
| -5% | -$2.11M |
|
242
Warby Parker
WRBY
$3.59B
| $39.6M | 0.03% |
2,174,158
+416,797
| +24% | +$9.95M |
|
|
MOFG
243
DELISTED
MidWestOne Financial Group
MOFG
| $39.5M | 0.03% |
1,335,597
+509,965
| +62% | +$15.4M |
|
244
XP
XP
$8.77B
| $39.5M | 0.03% |
+2,871,449
| New | +$39.5M |
|
245
Ally Financial
ALLY
$13.6B
| $38.8M | 0.03% |
1,064,504
-521,961
| -33% | -$19.2M |
|
246
Chefs' Warehouse
CHEF
$4.43B
| $38.4M | 0.03% |
704,278
-6,784
| -1% | -$378K |
|
247
Saia
SAIA
$9.52B
| $37.9M | 0.03% |
108,601
-19,295
| -15% | -$8.39M |
|
|
INN
248
Summit Hotel Properties
INN
$739M
| $37M | 0.03% |
6,843,363
+139,174
| +2% | +$884K |
|
|
EFOR
249
Everforth Inc
EFOR
$1.3B
| $37M | 0.03% |
586,634
-148,695
| -20% | -$11.4M |
|
250
TC Energy
TRP
$66.5B
| $36.5M | 0.03% |
772,037
+286,850
| +59% | +$13.4M |
|
Similar funds
Jennison Associates's Q1 2025 Portfolio in Review
As of Q1 2025, Jennison Associates held 646 positions worth $143B, down 13% from $165B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Jennison Associates withdrew a net $8.96B in Q1 2025, closing 79 positions and reducing 265 holdings. Its most notable exit was NVR, an estimated $307M position sold in full.
By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 38% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in Starbucks worth $818M.
- Jennison Associates's largest Q1 2025 buy was Starbucks: 8,336,826 shares worth $818M.
- Jennison Associates added most to Constellation Energy in Q1 2025, an estimated $924M increase.
- Jennison Associates's biggest Q1 2025 reduction was Eaton, cutting an estimated $1.34B.
- Jennison Associates fully exited NVR in Q1 2025, selling an estimated $307M.
- Jennison Associates's ten largest holdings make up 45% of its $143B portfolio in Q1 2025.
- Jennison Associates opened 74 new positions and closed 79 in Q1 2025.
- Jennison Associates's portfolio value fell 13% quarter-over-quarter to $143B.
Based on Jennison Associates's 13F filing for Q1 2025, filed 5 May 2025.