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 |
Advanced Micro Devices
AMD
|
+$1.58B |
| 2 |
Amphenol
APH
|
+$1.06B |
| 3 |
Eli Lilly
LLY
|
+$896M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$780M |
| 5 |
Snowflake
SNOW
|
+$615M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$2.24B |
| 2 |
NVIDIA
NVDA
|
+$1.89B |
| 3 |
Mercado Libre
MELI
|
+$1.5B |
| 4 |
Netflix
NFLX
|
+$1.32B |
| 5 |
Nike
NKE
|
+$826M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 41.63% |
| 2 | Communication Services | 15.64% |
| 3 | Consumer Discretionary | 12.05% |
| 4 | Healthcare | 9.65% |
| 5 | Financials | 6.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
276
Duke Energy
DUK
$97.3B
| $30.5M | 0.02% |
260,403
-5,439
| -2% | -$664K |
|
277
SiTime
SITM
$21.8B
| $30.2M | 0.02% |
85,428
-26,817
| -24% | -$8.39M |
|
278
AppFolio
APPF
$7.04B
| $30.1M | 0.02% |
129,401
+4,819
| +4% | +$1.15M |
|
279
Insulet
PODD
$9.79B
| $30M | 0.02% |
105,512
+5,656
| +6% | +$1.77M |
|
280
DT Midstream
DTM
$13.4B
| $29.6M | 0.02% |
247,640
+20,308
| +9% | +$2.33M |
|
281
PepsiCo
PEP
$190B
| $29.5M | 0.02% |
205,851
-100,538
| -33% | -$14.8M |
|
282
Targa Resources
TRGP
$55.1B
| $29.3M | 0.02% |
158,561
+1,720
| +1% | +$290K |
|
283
Mid-America Apartment Communities
MAA
$15.7B
| $29M | 0.02% |
208,484
+201,994
| +3,112% | +$26.9M |
|
284
Protagonist Therapeutics
PTGX
$9.44B
| $28.9M | 0.02% |
+331,164
| New | +$27.1M |
|
|
WAY
285
Waystar Holding Corp
WAY
$4.65B
| $28.9M | 0.02% |
882,830
-8,030
| -0.9% | -$286K |
|
286
HEICO Corp
HEI
$51.4B
| $28.7M | 0.02% |
88,647
+1,661
| +2% | +$525K |
|
287
Kinder Morgan
KMI
$68.7B
| $28.5M | 0.02% |
1,036,481
-46,577
| -4% | -$1.26M |
|
288
XP
XP
$8.39B
| $28.5M | 0.02% |
1,738,889
-1,015,902
| -37% | -$17.9M |
|
289
i3 Verticals
IIIV
$342M
| $27.6M | 0.02% |
1,093,762
+154,887
| +16% | +$4.36M |
|
|
NSA
290
DELISTED
National Storage Affiliates Trust
NSA
| $27.5M | 0.02% |
975,810
-542,637
| -36% | -$16.2M |
|
291
Ametek
AME
$58.2B
| $27.3M | 0.02% |
132,974
-127,662
| -49% | -$24.8M |
|
292
Trip.com Group
TCOM
$29.1B
| $26.6M | 0.02% |
369,952
-132,009
| -26% | -$9.44M |
|
293
Futu Holdings
FUTU
$15.3B
| $26.5M | 0.02% |
161,280
-53,738
| -25% | -$9.22M |
|
294
Tencent Music
TME
$15.6B
| $26.5M | 0.02% |
1,508,978
+282,379
| +23% | +$5.73M |
|
295
Agilysys
AGYS
$3.06B
| $26.4M | 0.02% |
221,791
+38,007
| +21% | +$4.57M |
|
296
Alamos Gold
AGI
$13.9B
| $26.3M | 0.02% |
682,747
-5,833
| -0.8% | -$203K |
|
297
Applied Materials
AMAT
$428B
| $26.3M | 0.02% |
102,231
+82,559
| +420% | +$19.8M |
|
298
Ferrari
RACE
$72.5B
| $26.2M | 0.02% |
70,993
-100,350
| -59% | -$40.2M |
|
299
Illumina
ILMN
$28.4B
| $26.2M | 0.02% |
199,858
+32,011
| +19% | +$3.76M |
|
300
Chewy
CHWY
$9.63B
| $26.1M | 0.02% |
789,467
+150,273
| +24% | +$5.22M |
|
Similar funds
Jennison Associates's Q4 2025 Portfolio in Review
As of Q4 2025, Jennison Associates held 652 positions worth $167B, down 3% from $172B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Jennison Associates withdrew a net $7.12B in Q4 2025, closing 78 positions and reducing 263 holdings. Its most notable exit was Nike, an estimated $826M position sold in full.
By sector, the portfolio is most concentrated in Technology at 42% of assets, up from 41% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in Merck worth $585M.
- Jennison Associates's largest Q4 2025 buy was Merck: 5,559,488 shares worth $585M.
- Jennison Associates added most to Advanced Micro Devices in Q4 2025, an estimated $1.58B increase.
- Jennison Associates's biggest Q4 2025 reduction was Meta Platforms (Facebook), cutting an estimated $2.24B.
- Jennison Associates fully exited Nike in Q4 2025, selling an estimated $826M.
- Jennison Associates's ten largest holdings make up 48% of its $167B portfolio in Q4 2025.
- Jennison Associates opened 92 new positions and closed 78 in Q4 2025.
- Jennison Associates's portfolio value fell 3% quarter-over-quarter to $167B.
Based on Jennison Associates's 13F filing for Q4 2025, filed 30 Jan 2026.