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 |
Capri Holdings
CPRI
|
+$448M |
| 2 |
MJN
Mead Johnson Nutrition Company
MJN
|
+$248M |
| 3 |
AGN
Allergan Inc
AGN
|
+$240M |
| 4 |
Apple
AAPL
|
+$223M |
| 5 |
ESRX
Express Scripts Holding Company
ESRX
|
+$156M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
IBM
IBM
|
+$677M |
| 2 |
Intuitive Surgical
ISRG
|
+$501M |
| 3 |
BRCM
BROADCOM CORP CL-A
BRCM
|
+$476M |
| 4 |
Crown Castle
CCI
|
+$365M |
| 5 |
Ralph Lauren
RL
|
+$336M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 17.54% |
| 2 | Consumer Discretionary | 15.06% |
| 3 | Technology | 11.56% |
| 4 | Energy | 11.06% |
| 5 | Communication Services | 9.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
EOG Resources
EOG
$75.2B
| $937M | 0.98% |
11,066,522
+564,840
| +5% | +$43.8M |
|
27
Estee Lauder
EL
$37.4B
| $928M | 0.97% |
13,278,099
-534,966
| -4% | -$36.2M |
|
28
Union Pacific
UNP
$183B
| $900M | 0.94% |
11,585,996
-430,040
| -4% | -$34M |
|
29
Morgan Stanley
MS
$337B
| $883M | 0.93% |
32,754,393
-805,911
| -2% | -$21.6M |
|
|
ESRX
30
DELISTED
Express Scripts Holding Company
ESRX
| $858M | 0.9% |
13,880,693
+2,411,387
| +21% | +$156M |
|
|
AGN
31
DELISTED
Allergan Inc
AGN
| $853M | 0.89% |
9,427,363
+2,669,323
| +39% | +$240M |
|
|
32
Capri Holdings
CPRI
$1.53B
| $839M | 0.88% |
11,253,755
+6,431,090
| +133% | +$448M |
|
33
RTX Corp
RTX
$285B
| $824M | 0.86% |
12,150,862
-441,351
| -4% | -$28.9M |
|
34
UnitedHealth
UNH
$353B
| $824M | 0.86% |
11,508,779
-418,625
| -4% | -$30M |
|
35
Starbucks
SBUX
$123B
| $823M | 0.86% |
21,385,686
+3,771,956
| +21% | +$136M |
|
|
RHT
36
DELISTED
Red Hat Inc
RHT
| $800M | 0.84% |
17,334,554
-1,947,438
| -10% | -$98.8M |
|
|
VMW
37
DELISTED
VMware, Inc
VMW
| $750M | 0.79% |
9,271,319
+178,505
| +2% | +$14.4M |
|
38
Illumina
ILMN
$32.6B
| $737M | 0.77% |
9,377,771
-42,579
| -0.5% | -$3.26M |
|
39
Bristol-Myers Squibb
BMY
$136B
| $714M | 0.75% |
15,435,882
-1,672,183
| -10% | -$73.4M |
|
40
eBay
EBAY
$47B
| $711M | 0.75% |
30,274,752
-1,038,590
| -3% | -$23.3M |
|
41
SLB Ltd
SLB
$85.1B
| $673M | 0.71% |
7,622,129
+188,953
| +3% | +$15.5M |
|
42
BioMarin Pharmaceuticals
BMRN
$12.5B
| $641M | 0.67% |
8,876,357
+1,642,434
| +23% | +$109M |
|
43
Canadian Pacific Kansas City
CP
$82.7B
| $632M | 0.66% |
25,609,425
+5,048,015
| +25% | +$125M |
|
|
ARMH
44
DELISTED
ARM HOLDINGS PLC ADS
ARMH
| $631M | 0.66% |
13,103,798
+616,724
| +5% | +$26M |
|
|
45
Ralph Lauren
RL
$21.1B
| $629M | 0.66% |
3,819,077
-1,933,762
| -34% | -$336M |
|
|
DNKN
46
DELISTED
Dunkin' Brands Group, Inc.
DNKN
| $623M | 0.65% |
13,771,839
-900,019
| -6% | -$39.5M |
|
|
CELG
47
DELISTED
Celgene Corp
CELG
| $622M | 0.65% |
8,080,232
+1,196,718
| +17% | +$83.9M |
|
48
TechnipFMC
FTI
$29.7B
| $607M | 0.64% |
14,711,947
+1,812,605
| +14% | +$74.5M |
|
|
NBL
49
DELISTED
Noble Energy, Inc.
NBL
| $604M | 0.63% |
9,020,040
-180,418
| -2% | -$11.6M |
|
50
Warner Bros
WBD
$72.1B
| $600M | 0.63% |
13,910,424
+3,483,508
| +33% | +$145M |
|
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Jennison Associates's Q3 2013 Portfolio in Review
As of Q3 2013, Jennison Associates held 756 positions worth $95.4B, up 7.3% from $88.9B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Jennison Associates withdrew a net $3.56B in Q3 2013, closing 76 positions and reducing 326 holdings. Its most notable exit was Intuitive Surgical, an estimated $501M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 18% of assets, down from 18% a quarter earlier, followed by Consumer Discretionary and Technology.
Against the trend, Jennison Associates opened a new position in Under Armour worth $157M.
- Jennison Associates's largest Q3 2013 buy was Under Armour: 7,886,544 shares worth $157M.
- Jennison Associates added most to Capri Holdings in Q3 2013, an estimated $448M increase.
- Jennison Associates's biggest Q3 2013 reduction was IBM, cutting an estimated $677M.
- Jennison Associates fully exited Intuitive Surgical in Q3 2013, selling an estimated $501M.
- Jennison Associates's ten largest holdings make up 19% of its $95.4B portfolio in Q3 2013.
- Jennison Associates opened 84 new positions and closed 76 in Q3 2013.
- Jennison Associates's portfolio value rose 7.3% quarter-over-quarter to $95.4B.
Based on Jennison Associates's 13F filing for Q3 2013, filed 13 Nov 2013.