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 | |
|---|---|---|---|---|---|---|
401
First Solar
FSLR
$26.3B
| $6.29M | ﹤0.01% |
49,756
+2,478
| +5% | +$387K |
|
402
Bunge Global
BG
$20.9B
| $6.29M | ﹤0.01% |
82,297
+4,864
| +6% | +$364K |
|
403
First Advantage
FA
$4.13B
| $6.06M | ﹤0.01% |
430,288
-2,099
| -0.5% | -$35.3K |
|
404
Krystal Biotech
KRYS
$9.58B
| $6.06M | ﹤0.01% |
33,594
-269,927
| -89% | -$45.4M |
|
405
Darden Restaurants
DRI
$24B
| $5.92M | ﹤0.01% |
28,495
+2,024
| +8% | +$391K |
|
|
KRMN
406
Karman Holdings
KRMN
$7.26B
| $5.74M | ﹤0.01% |
+171,757
| New | +$5.54M |
|
407
State Street SPDR S&P Metals & Mining ETF
XME
$4.22B
| $5.72M | ﹤0.01% |
102,185
+3,360
| +3% | +$197K |
|
408
Air Products & Chemicals
APD
$66.7B
| $5.55M | ﹤0.01% |
+18,831
| New | +$5.81M |
|
409
State Street Energy Select Sector SPDR ETF
XLE
$38.1B
| $5.34M | ﹤0.01% |
114,180
+16,922
| +17% | +$763K |
|
410
Coca-Cola
KO
$373B
| $5.15M | ﹤0.01% |
71,881
+45,350
| +171% | +$3.03M |
|
|
411
Palo Alto Networks
PANW
$293B
| $5.1M | ﹤0.01% |
29,916
-5,729,773
| -99% | -$1.06B |
|
412
M&T Bank
MTB
$36.1B
| $4.91M | ﹤0.01% |
+27,459
| New | +$5.21M |
|
413
Dow Inc
DOW
$21.9B
| $4.77M | ﹤0.01% |
136,464
-5,300
| -4% | -$204K |
|
414
Darling Ingredients
DAR
$9.58B
| $4.58M | ﹤0.01% |
146,683
-371,207
| -72% | -$13M |
|
415
Ivanhoe Electric
IE
$1.7B
| $4.1M | ﹤0.01% |
705,716
+48,332
| +7% | +$306K |
|
416
Intuit
INTU
$88.2B
| $3.96M | ﹤0.01% |
6,444
+4,044
| +169% | +$2.43M |
|
417
CF Industries
CF
$18B
| $3.8M | ﹤0.01% |
48,681
-69,072
| -59% | -$5.79M |
|
|
SLSR
418
Solaris Resources
SLSR
$1.32B
| $3.68M | ﹤0.01% |
1,094,669
+58,329
| +6% | +$204K |
|
419
Cabaletta Bio
CABA
$452M
| $3.37M | ﹤0.01% |
2,433,728
-78,325
| -3% | -$167K |
|
420
Vanguard Total World Stock ETF
VT
$79.1B
| $3.09M | ﹤0.01% |
26,643
-41,583
| -61% | -$4.98M |
|
421
Norfolk Southern
NSC
$76.8B
| $3.05M | ﹤0.01% |
12,886
+120
| +0.9% | +$29.2K |
|
|
BA.PRA
422
Boeing Co 6.00% Series A Preferred Stock
BA.PRA
$8.19B
| $2.99M | ﹤0.01% |
50,000
| – | – |
|
423
Kodiak Gas Services
KGS
$5.73B
| $2.93M | ﹤0.01% |
78,464
-129,479
| -62% | -$5.52M |
|
424
Edgewise Therapeutics
EWTX
$4.77B
| $2.83M | ﹤0.01% |
+128,746
| New | +$3.38M |
|
|
WCN
425
Waste Connections
WCN
$42.2B
| $2.77M | ﹤0.01% |
14,205
-42
| -0.3% | -$7.77K |
|
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.