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 |
Advanced Micro Devices
AMD
|
+$1.58B |
| 2 |
Amphenol
APH
|
+$1.06B |
| 3 |
Eli Lilly
LLY
|
+$896M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$780M |
| 5 |
Snowflake
SNOW
|
+$615M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$2.24B |
| 2 |
NVIDIA
NVDA
|
+$1.89B |
| 3 |
Mercado Libre
MELI
|
+$1.5B |
| 4 |
Netflix
NFLX
|
+$1.32B |
| 5 |
Nike
NKE
|
+$826M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 41.63% |
| 2 | Communication Services | 15.64% |
| 3 | Consumer Discretionary | 12.05% |
| 4 | Healthcare | 9.65% |
| 5 | Financials | 6.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Applovin
APP
$116B
| $1.84B | 1.11% |
2,737,024
-1,149,126
| -30% | -$724M |
|
27
Oracle
ORCL
$423B
| $1.83B | 1.1% |
9,414,334
+187,082
| +2% | +$44.5M |
|
28
Intuitive Surgical
ISRG
$134B
| $1.82B | 1.09% |
3,209,137
+321,759
| +11% | +$171M |
|
29
Spotify
SPOT
$100B
| $1.75B | 1.05% |
3,007,221
-82,112
| -3% | -$51.3M |
|
30
Vertex Pharmaceuticals
VRTX
$126B
| $1.47B | 0.88% |
3,249,541
-205,406
| -6% | -$88.5M |
|
|
31
Amphenol
APH
$209B
| $1.39B | 0.83% |
10,257,379
+7,930,532
| +341% | +$1.06B |
|
32
ServiceNow
NOW
$129B
| $1.29B | 0.78% |
8,432,389
-2,660,746
| -24% | -$456M |
|
33
Goldman Sachs
GS
$303B
| $1.19B | 0.71% |
1,353,007
+392,319
| +41% | +$320M |
|
34
Edwards Lifesciences
EW
$51.7B
| $1.17B | 0.71% |
13,780,515
-178,259
| -1% | -$14.6M |
|
35
O'Reilly Automotive
ORLY
$76.3B
| $1.09B | 0.66% |
11,977,711
-1,911,332
| -14% | -$187M |
|
36
Datadog
DDOG
$84B
| $1.04B | 0.62% |
7,623,993
+2,316,994
| +44% | +$366M |
|
37
Hilton Worldwide
HLT
$71.5B
| $954M | 0.57% |
3,321,298
-1,429,593
| -30% | -$389M |
|
|
38
Mercado Libre
MELI
$92.3B
| $745M | 0.45% |
369,796
-716,487
| -66% | -$1.5B |
|
39
Nu Holdings
NU
$66.9B
| $659M | 0.4% |
39,370,791
+17,809,644
| +83% | +$286M |
|
40
Merck
MRK
$318B
| $585M | 0.35% |
+5,559,488
| New | +$522M |
|
41
Toast
TOST
$19.9B
| $538M | 0.32% |
15,157,955
+157,394
| +1% | +$5.67M |
|
42
Uber
UBER
$153B
| $526M | 0.32% |
6,435,002
-4,405,901
| -41% | -$397M |
|
43
Boston Scientific
BSX
$71.5B
| $521M | 0.31% |
5,468,295
+529,549
| +11% | +$51.9M |
|
|
AXON
44
Axon Enterprise
AXON
$46.4B
| $511M | 0.31% |
900,397
-43,547
| -5% | -$27M |
|
45
Robinhood
HOOD
$83.9B
| $499M | 0.3% |
4,412,036
+2,157,372
| +96% | +$281M |
|
46
NextEra Energy
NEE
$177B
| $476M | 0.29% |
5,932,840
+1,110,168
| +23% | +$92M |
|
47
JPMorgan Chase
JPM
$950B
| $452M | 0.27% |
1,403,134
-73,957
| -5% | -$22.9M |
|
48
GE Vernova
GEV
$264B
| $423M | 0.25% |
647,791
+601,533
| +1,300% | +$366M |
|
49
NiSource
NI
$20.4B
| $394M | 0.24% |
9,429,794
-97,802
| -1% | -$4.18M |
|
50
DexCom
DXCM
$32B
| $384M | 0.23% |
5,789,944
-4,300,430
| -43% | -$278M |
|
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Jennison Associates's Q4 2025 Portfolio in Review
As of Q4 2025, Jennison Associates held 652 positions worth $167B, down 3% from $172B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Jennison Associates withdrew a net $7.12B in Q4 2025, closing 78 positions and reducing 263 holdings. Its most notable exit was Nike, an estimated $826M position sold in full.
By sector, the portfolio is most concentrated in Technology at 42% of assets, up from 41% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in Merck worth $585M.
- Jennison Associates's largest Q4 2025 buy was Merck: 5,559,488 shares worth $585M.
- Jennison Associates added most to Advanced Micro Devices in Q4 2025, an estimated $1.58B increase.
- Jennison Associates's biggest Q4 2025 reduction was Meta Platforms (Facebook), cutting an estimated $2.24B.
- Jennison Associates fully exited Nike in Q4 2025, selling an estimated $826M.
- Jennison Associates's ten largest holdings make up 48% of its $167B portfolio in Q4 2025.
- Jennison Associates opened 92 new positions and closed 78 in Q4 2025.
- Jennison Associates's portfolio value fell 3% quarter-over-quarter to $167B.
Based on Jennison Associates's 13F filing for Q4 2025, filed 30 Jan 2026.