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 |
Microsoft
MSFT
|
+$864M |
| 2 |
Shopify
SHOP
|
+$624M |
| 3 |
Vertex Pharmaceuticals
VRTX
|
+$502M |
| 4 |
TSMC
TSM
|
+$470M |
| 5 |
Constellation Energy
CEG
|
+$451M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$1.03B |
| 2 |
Apple
AAPL
|
+$843M |
| 3 |
Broadcom
AVGO
|
+$764M |
| 4 |
Amazon
AMZN
|
+$530M |
| 5 |
Uber
UBER
|
+$520M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 35.95% |
| 2 | Communication Services | 17.48% |
| 3 | Consumer Discretionary | 14.75% |
| 4 | Healthcare | 9.68% |
| 5 | Financials | 7.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Snowflake
SNOW
$114B
| $1.79B | 1.06% |
8,000,667
+1,363,389
| +21% | +$246M |
|
27
GE Aerospace
GE
$355B
| $1.79B | 1.06% |
6,936,337
+132,427
| +2% | +$29.1M |
|
28
Intuitive Surgical
ISRG
$132B
| $1.7B | 1.01% |
3,122,390
+528,359
| +20% | +$276M |
|
|
29
Uber
UBER
$161B
| $1.65B | 0.98% |
17,726,469
-6,311,209
| -26% | -$520M |
|
|
30
Shopify
SHOP
$197B
| $1.33B | 0.79% |
11,519,610
+6,238,829
| +118% | +$624M |
|
|
NVO
31
Novo Nordisk
NVO
$202B
| $1.3B | 0.77% |
18,885,343
+63,341
| +0.3% | +$4.31M |
|
32
O'Reilly Automotive
ORLY
$71.6B
| $1.27B | 0.75% |
14,116,976
+3,093,446
| +28% | +$282M |
|
33
Hilton Worldwide
HLT
$72.4B
| $1.23B | 0.73% |
4,631,719
+847,353
| +22% | +$202M |
|
34
Trade Desk
TTD
$6.38B
| $1.03B | 0.61% |
14,267,457
+2,169,252
| +18% | +$139M |
|
35
DexCom
DXCM
$34.3B
| $1.01B | 0.6% |
11,517,546
+994,300
| +9% | +$77.9M |
|
36
Edwards Lifesciences
EW
$52B
| $913M | 0.54% |
11,670,991
+1,584,958
| +16% | +$118M |
|
37
Ferrari
RACE
$73.9B
| $903M | 0.54% |
1,841,200
+153,297
| +9% | +$71.2M |
|
38
Applovin
APP
$106B
| $877M | 0.52% |
2,504,180
+117,200
| +5% | +$38M |
|
39
Progressive
PGR
$127B
| $861M | 0.51% |
3,226,560
-12,631
| -0.4% | -$3.46M |
|
40
AstraZeneca
AZN
$252B
| $850M | 0.5% |
6,083,683
+802,567
| +15% | +$112M |
|
41
Datadog
DDOG
$85.1B
| $745M | 0.44% |
5,545,010
-844,603
| -13% | -$93.5M |
|
42
Sea Limited
SE
$73.1B
| $682M | 0.4% |
4,266,600
+1,687,695
| +65% | +$244M |
|
43
Moody's
MCO
$89.2B
| $675M | 0.4% |
1,345,306
-223,781
| -14% | -$104M |
|
44
Goldman Sachs
GS
$301B
| $673M | 0.4% |
950,708
-103,770
| -10% | -$60.1M |
|
45
TJX Companies
TJX
$149B
| $649M | 0.39% |
5,256,301
+141,725
| +3% | +$18M |
|
46
Texas Instruments
TXN
$236B
| $621M | 0.37% |
2,992,090
+777,619
| +35% | +$138M |
|
47
Airbnb
ABNB
$112B
| $596M | 0.35% |
4,501,151
-2,304,937
| -34% | -$292M |
|
48
Nike
NKE
$58.7B
| $591M | 0.35% |
8,319,862
+300,781
| +4% | +$18.1M |
|
49
Nu Holdings
NU
$69.1B
| $576M | 0.34% |
41,962,679
+11,567,865
| +38% | +$139M |
|
50
Salesforce
CRM
$211B
| $545M | 0.32% |
1,999,019
-1,570,881
| -44% | -$420M |
|
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Jennison Associates's Q2 2025 Portfolio in Review
As of Q2 2025, Jennison Associates held 642 positions worth $169B, up 18% from $143B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Jennison Associates's Q2 2025 filing shows 75 new, 257 increased, 235 reduced and 68 closed positions. Its largest new stake was Thermo Fisher Scientific: 165,992 shares worth $67.3M. The largest sale was Netflix, an estimated $1.03B.
By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 33% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Jennison Associates's largest Q2 2025 buy was Thermo Fisher Scientific: 165,992 shares worth $67.3M.
- Jennison Associates added most to Microsoft in Q2 2025, an estimated $864M increase.
- Jennison Associates's biggest Q2 2025 reduction was Netflix, cutting an estimated $1.03B.
- Jennison Associates fully exited Vertiv in Q2 2025, selling an estimated $308M.
- Jennison Associates's ten largest holdings make up 45% of its $169B portfolio in Q2 2025.
- Jennison Associates opened 75 new positions and closed 68 in Q2 2025.
- Jennison Associates's portfolio value rose 18% quarter-over-quarter to $169B.
Based on Jennison Associates's 13F filing for Q2 2025, filed 1 Aug 2025.