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 | |
|---|---|---|---|---|---|---|
426
Canadian Pacific Kansas City
CP
$79.4B
| $2.76M | ﹤0.01% |
39,305
-108,928
| -73% | -$8.29M |
|
427
ASE Group
ASX
$82.2B
| $2.7M | ﹤0.01% |
+308,499
| New | +$3.14M |
|
428
Vanguard Morningstar Growth ETF
VUG
$229B
| $2.69M | ﹤0.01% |
43,464
-29,172
| -40% | -$1.97M |
|
429
American Express
AXP
$232B
| $2.62M | ﹤0.01% |
9,752
-5,236
| -35% | -$1.55M |
|
430
Crown Castle
CCI
$33.1B
| $2.62M | ﹤0.01% |
+25,103
| New | +$2.34M |
|
431
iShares MSCI ACWI ex US ETF
ACWX
$11.7B
| $2.44M | ﹤0.01% |
44,029
-394,576
| -90% | -$21.7M |
|
432
Applied Materials
AMAT
$420B
| $2.18M | ﹤0.01% |
15,044
-151,878
| -91% | -$25.5M |
|
433
COPT Defense Properties
CDP
$4.23B
| $2.07M | ﹤0.01% |
75,997
+28,160
| +59% | +$794K |
|
434
Ares Management
ARES
$31.1B
| $2.06M | ﹤0.01% |
14,056
-2,151
| -13% | -$372K |
|
|
FLOC
435
Flowco Holdings
FLOC
$875M
| $2.06M | ﹤0.01% |
+80,190
| New | +$2.11M |
|
436
Amer Sports
AS
$21.5B
| $1.98M | ﹤0.01% |
+74,003
| New | +$2.19M |
|
|
TPH
437
DELISTED
Tri Pointe Homes
TPH
| $1.98M | ﹤0.01% |
61,965
+26,515
| +75% | +$905K |
|
438
McGrath RentCorp
MGRC
$2.93B
| $1.94M | ﹤0.01% |
17,410
+3,819
| +28% | +$451K |
|
439
CNO Financial Group
CNO
$5.15B
| $1.92M | ﹤0.01% |
46,018
-16,689
| -27% | -$666K |
|
440
Lifezone Metals
LZM
$356M
| $1.89M | ﹤0.01% |
452,817
| – | – |
|
|
KMTS
441
Kestra Medical Technologies
KMTS
$1.46B
| $1.87M | ﹤0.01% |
+75,000
| New | +$1.72M |
|
|
442
Eaton
ETN
$174B
| $1.84M | ﹤0.01% |
6,784
-4,312,895
| -100% | -$1.34B |
|
|
TRML
443
DELISTED
Tourmaline Bio
TRML
| $1.8M | ﹤0.01% |
118,487
-727,313
| -86% | -$11.7M |
|
444
NexGen Energy
NXE
$6.85B
| $1.78M | ﹤0.01% |
397,588
+20,400
| +5% | +$121K |
|
|
DX
445
Dynex Capital
DX
$3.18B
| $1.76M | ﹤0.01% |
+135,515
| New | +$1.82M |
|
446
Interface
TILE
$2.05B
| $1.75M | ﹤0.01% |
87,986
+22,492
| +34% | +$490K |
|
447
Citigroup
C
$226B
| $1.72M | ﹤0.01% |
24,204
+219
| +0.9% | +$16.7K |
|
|
TE
448
T1 Energy
TE
$1.64B
| $1.66M | ﹤0.01% |
1,317,275
-3,707
| -0.3% | -$6.84K |
|
449
SITE Centers
SITC
$163M
| $1.64M | ﹤0.01% |
+127,928
| New | +$1.82M |
|
450
Sanmina
SANM
$11B
| $1.63M | ﹤0.01% |
21,461
-5,096
| -19% | -$414K |
|
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.