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 | |
|---|---|---|---|---|---|---|
351
Northern Oil and Gas
NOG
$2.21B
| $15.5M | 0.01% |
513,172
-11,373
| -2% | -$390K |
|
352
RBC Bearings
RBC
$17.9B
| $15.5M | 0.01% |
48,114
+1,522
| +3% | +$513K |
|
353
Travere Therapeutics
TVTX
$5.89B
| $15.3M | 0.01% |
852,124
+35,725
| +4% | +$725K |
|
354
Ferrovial N.V. Ordinary Shares
FER
$47.1B
| $15.2M | 0.01% |
345,506
-19,089
| -5% | -$823K |
|
|
GTLS
355
DELISTED
Chart Industries
GTLS
| $15.2M | 0.01% |
105,483
+12,707
| +14% | +$2.34M |
|
356
Kymera Therapeutics
KYMR
$8.75B
| $15.1M | 0.01% |
552,286
-164,647
| -23% | -$6M |
|
357
Republic Services
RSG
$64.5B
| $14.8M | 0.01% |
61,168
-139,588
| -70% | -$31.3M |
|
358
Vertex
VERX
$1.88B
| $14.6M | 0.01% |
417,237
-37,791
| -8% | -$1.73M |
|
359
PENN Entertainment
PENN
$2.69B
| $14.6M | 0.01% |
892,193
+122,165
| +16% | +$2.39M |
|
360
Valero Energy
VLO
$87.2B
| $14.5M | 0.01% |
110,102
+24,046
| +28% | +$3.19M |
|
|
CFLT
361
DELISTED
Confluent
CFLT
| $14.5M | 0.01% |
+619,492
| New | +$17.9M |
|
362
NeoGenomics
NEO
$2B
| $14.5M | 0.01% |
1,527,267
+12,511
| +0.8% | +$156K |
|
|
BRDG
363
DELISTED
Bridge Investment Group
BRDG
| $14.1M | 0.01% |
1,471,795
-1,930,680
| -57% | -$16.9M |
|
364
Canadian National Railway
CNI
$76.5B
| $14M | 0.01% |
143,213
-9,601
| -6% | -$971K |
|
|
GDEN
365
DELISTED
Golden Entertainment
GDEN
| $13.8M | 0.01% |
522,567
-7,562
| -1% | -$233K |
|
366
Mirion Technologies
MIR
$3.74B
| $13.5M | 0.01% |
931,867
+417,553
| +81% | +$6.56M |
|
367
AppFolio
APPF
$6.87B
| $13.5M | 0.01% |
61,185
+599
| +1% | +$137K |
|
368
Pool Corp
POOL
$7.31B
| $12.5M | 0.01% |
39,255
+1,903
| +5% | +$646K |
|
369
Descartes Systems
DSGX
$6.67B
| $12.5M | 0.01% |
123,922
-51,493
| -29% | -$5.69M |
|
|
PCG.PRX
370
PG&E Corp 6.000% Series A Preferred Stock
PCG.PRX
$1.35B
| $12.5M | 0.01% |
279,165
| – | – |
|
371
Vera Therapeutics
VERA
$2.3B
| $12.2M | 0.01% |
507,838
-306,023
| -38% | -$9.83M |
|
372
GE Vernova
GEV
$266B
| $11.7M | 0.01% |
38,260
+1,933
| +5% | +$674K |
|
373
American Tower
AMT
$79.8B
| $11.5M | 0.01% |
52,694
+9,932
| +23% | +$1.95M |
|
374
Bankunited
BKU
$3.37B
| $11.4M | 0.01% |
331,677
-194,990
| -37% | -$7.35M |
|
375
Kinetik
KNTK
$3.69B
| $11.3M | 0.01% |
217,195
-115,125
| -35% | -$6.75M |
|
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.