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 |
NVIDIA
NVDA
|
+$882M |
| 2 |
Netflix
NFLX
|
+$813M |
| 3 |
T-Mobile US
TMUS
|
+$722M |
| 4 |
Intuitive Surgical
ISRG
|
+$301M |
| 5 |
DexCom
DXCM
|
+$246M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$2.03B |
| 2 |
Salesforce
CRM
|
+$890M |
| 3 |
CrowdStrike
CRWD
|
+$654M |
| 4 |
Apple
AAPL
|
+$542M |
| 5 |
Atlassian
TEAM
|
+$353M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.75% |
| 2 | Healthcare | 20.44% |
| 3 | Consumer Discretionary | 17.04% |
| 4 | Financials | 10.94% |
| 5 | Communication Services | 8.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
American Tower
AMT
$83.5B
| $1.12B | 1.14% |
5,299,426
+650,078
| +14% | +$135M |
|
27
Estee Lauder
EL
$30.4B
| $1.12B | 1.13% |
4,508,919
-1,412,124
| -24% | -$315M |
|
|
28
DexCom
DXCM
$29B
| $1.04B | 1.05% |
9,186,222
+2,242,846
| +32% | +$246M |
|
|
29
Salesforce
CRM
$154B
| $1.01B | 1.02% |
7,591,733
-6,096,773
| -45% | -$890M |
|
30
Goldman Sachs
GS
$289B
| $976M | 0.99% |
2,843,770
-64,232
| -2% | -$22.4M |
|
|
31
T-Mobile US
TMUS
$195B
| $935M | 0.95% |
6,681,396
+5,023,953
| +303% | +$722M |
|
32
TJX Companies
TJX
$179B
| $925M | 0.94% |
11,618,425
-999,280
| -8% | -$73.8M |
|
33
Nike
NKE
$64.1B
| $896M | 0.91% |
7,659,946
-78,868
| -1% | -$7.94M |
|
34
Snowflake
SNOW
$98.1B
| $891M | 0.9% |
6,204,851
+754,039
| +14% | +$115M |
|
35
S&P Global
SPGI
$124B
| $850M | 0.86% |
2,538,387
+205,103
| +9% | +$67.6M |
|
36
Marriott International
MAR
$100B
| $791M | 0.8% |
5,314,748
+12,837
| +0.2% | +$1.98M |
|
37
Airbnb
ABNB
$90.8B
| $730M | 0.74% |
8,541,374
-1,896,801
| -18% | -$192M |
|
38
ASML
ASML
$596B
| $708M | 0.72% |
1,294,890
+135,395
| +12% | +$70.9M |
|
39
Abbott
ABT
$188B
| $702M | 0.71% |
6,390,956
-2,480,166
| -28% | -$257M |
|
40
Thermo Fisher Scientific
TMO
$214B
| $655M | 0.66% |
1,188,979
+400,867
| +51% | +$212M |
|
|
41
Atlassian
TEAM
$26.5B
| $632M | 0.64% |
4,914,513
-2,219,833
| -31% | -$353M |
|
42
O'Reilly Automotive
ORLY
$75.1B
| $612M | 0.62% |
10,870,950
+193,185
| +2% | +$10.4M |
|
43
Northrop Grumman
NOC
$76B
| $576M | 0.58% |
1,054,897
+242,658
| +30% | +$127M |
|
44
argenx
ARGX
$55.2B
| $562M | 0.57% |
1,482,892
-66,173
| -4% | -$24.8M |
|
45
Chipotle Mexican Grill
CMG
$43.9B
| $549M | 0.56% |
19,781,500
-7,360,850
| -27% | -$220M |
|
46
Trade Desk
TTD
$8.97B
| $546M | 0.55% |
12,187,197
-2,610,543
| -18% | -$132M |
|
|
47
CrowdStrike
CRWD
$183B
| $518M | 0.52% |
19,667,396
-19,114,608
| -49% | -$654M |
|
48
NextEra Energy
NEE
$184B
| $517M | 0.52% |
6,183,949
-39,948
| -0.6% | -$3.23M |
|
49
ConocoPhillips
COP
$144B
| $474M | 0.48% |
4,016,920
-174,168
| -4% | -$21.2M |
|
50
HDFC Bank
HDB
$123B
| $458M | 0.46% |
13,387,020
+7,369,270
| +122% | +$239M |
|
Similar funds
Jennison Associates's Q4 2022 Portfolio in Review
As of Q4 2022, Jennison Associates held 646 positions worth $98.7B, down 1.9% from $101B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Jennison Associates withdrew a net $3.42B in Q4 2022, closing 75 positions and reducing 267 holdings. Its most notable exit was Target, an estimated $231M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 27% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in ICICI Bank worth $102M.
- Jennison Associates's largest Q4 2022 buy was ICICI Bank: 4,644,701 shares worth $102M.
- Jennison Associates added most to NVIDIA in Q4 2022, an estimated $882M increase.
- Jennison Associates's biggest Q4 2022 reduction was Tesla, cutting an estimated $2.03B.
- Jennison Associates fully exited Target in Q4 2022, selling an estimated $231M.
- Jennison Associates's ten largest holdings make up 35% of its $98.7B portfolio in Q4 2022.
- Jennison Associates opened 47 new positions and closed 75 in Q4 2022.
- Jennison Associates's portfolio value fell 1.9% quarter-over-quarter to $98.7B.
Based on Jennison Associates's 13F filing for Q4 2022, filed 9 Feb 2023.