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 | |
|---|---|---|---|---|---|---|
|
NEE.PRR
526
DELISTED
NextEra Energy, Inc. 6.926% Corporate Units
NEE.PRR
| $646K | ﹤0.01% |
15,911
| – | – |
|
527
Cellebrite
CLBT
$3.9B
| $645K | ﹤0.01% |
+33,184
| New | +$698K |
|
|
TXNM
528
TXNM Energy Inc
TXNM
$5.91B
| $644K | ﹤0.01% |
+12,049
| New | +$605K |
|
529
DXP Enterprises
DXPE
$2.61B
| $629K | ﹤0.01% |
+7,645
| New | +$705K |
|
530
Champion Homes
SKY
$5B
| $621K | ﹤0.01% |
6,552
-923
| -12% | -$88.5K |
|
531
Transmedics
TMDX
$2.65B
| $620K | ﹤0.01% |
9,217
+316
| +4% | +$21.7K |
|
|
IAS
532
DELISTED
Integral Ad Science
IAS
| $616K | ﹤0.01% |
76,373
+12,835
| +20% | +$128K |
|
533
Waste Management
WM
$89.7B
| $615K | ﹤0.01% |
2,657
+114
| +4% | +$25.2K |
|
534
ProPetro Holding
PUMP
$1.35B
| $600K | ﹤0.01% |
81,613
+13,514
| +20% | +$117K |
|
535
Amneal Pharmaceuticals
AMRX
$5.89B
| $599K | ﹤0.01% |
+71,426
| New | +$596K |
|
536
Abercrombie & Fitch
ANF
$4.86B
| $593K | ﹤0.01% |
7,764
+2,118
| +38% | +$228K |
|
537
Coeur Mining
CDE
$18B
| $590K | ﹤0.01% |
+99,618
| New | +$615K |
|
538
Magnolia Oil & Gas
MGY
$5.62B
| $585K | ﹤0.01% |
23,175
-316
| -1% | -$7.66K |
|
539
NovoCure
NVCR
$1.87B
| $573K | ﹤0.01% |
+32,179
| New | +$731K |
|
540
Commault Systems
CVLT
$5.52B
| $568K | ﹤0.01% |
3,601
-5,144
| -59% | -$846K |
|
541
Enact Holdings
ACT
$6.68B
| $568K | ﹤0.01% |
16,337
-20,987
| -56% | -$702K |
|
542
GeneDx Holdings
WGS
$2.08B
| $563K | ﹤0.01% |
+6,353
| New | +$551K |
|
543
Mid-America Apartment Communities
MAA
$15.6B
| $558K | ﹤0.01% |
+3,327
| New | +$527K |
|
544
Dave & Buster's
PLAY
$364M
| $555K | ﹤0.01% |
+31,591
| New | +$748K |
|
545
Primoris Services
PRIM
$4.52B
| $544K | ﹤0.01% |
9,476
+3,855
| +69% | +$279K |
|
546
Aurora
AUR
$13.1B
| $541K | ﹤0.01% |
+80,412
| New | +$575K |
|
547
Myriad Genetics
MYGN
$301M
| $539K | ﹤0.01% |
60,811
+1,796
| +3% | +$21.6K |
|
|
AKRO
548
DELISTED
Akero Therapeutics
AKRO
| $533K | ﹤0.01% |
+13,178
| New | +$559K |
|
549
Four Corners Property Trust
FCPT
$2.77B
| $524K | ﹤0.01% |
+18,269
| New | +$510K |
|
550
Upstart Holdings
UPST
$2.94B
| $514K | ﹤0.01% |
11,177
+2,078
| +23% | +$129K |
|
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.