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 | |
|---|---|---|---|---|---|---|
551
Privia Health
PRVA
$3B
| $608K | ﹤0.01% |
+26,768
| New | +$745K |
|
552
BancFirst
BANF
$3.85B
| $588K | ﹤0.01% |
+6,668
| New | +$630K |
|
553
iShares North American Natural Resources ETF
IGE
$750M
| $558K | ﹤0.01% |
13,717
+507
| +4% | +$20.6K |
|
554
FirstService
FSV
$6.21B
| $521K | ﹤0.01% |
4,258
-1,366
| -24% | -$169K |
|
555
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27.2B
| $499K | ﹤0.01% |
1,127
+377
| +50% | +$167K |
|
556
Flywire
FLYW
$2.13B
| $410K | ﹤0.01% |
16,762
-15,110
| -47% | -$326K |
|
557
Toro Company
TTC
$9.44B
| $396K | ﹤0.01% |
+3,500
| New | +$371K |
|
558
Crown Castle
CCI
$33.9B
| $379K | ﹤0.01% |
+2,792
| New | +$378K |
|
559
Phillips 66
PSX
$82.5B
| $367K | ﹤0.01% |
+3,526
| New | +$361K |
|
560
Lattice Semiconductor
LSCC
$19.6B
| $350K | ﹤0.01% |
+5,395
| New | +$326K |
|
|
AXON
561
Axon Enterprise
AXON
$48.9B
| $347K | ﹤0.01% |
+2,094
| New | +$331K |
|
562
CDW
CDW
$19.7B
| $344K | ﹤0.01% |
1,928
-10,258
| -84% | -$1.8M |
|
563
Medpace
MEDP
$16.1B
| $342K | ﹤0.01% |
+1,609
| New | +$321K |
|
564
MGP Ingredients
MGPI
$366M
| $341K | ﹤0.01% |
+3,202
| New | +$358K |
|
565
Micron Technology
MU
$1.01T
| $312K | ﹤0.01% |
+6,242
| New | +$342K |
|
566
Equinor
EQNR
$93.1B
| $301K | ﹤0.01% |
8,393
| – | – |
|
567
Mettler-Toledo International
MTD
$28.8B
| $247K | ﹤0.01% |
171
-15
| -8% | -$20.1K |
|
568
Timken Company
TKR
$9.18B
| $218K | ﹤0.01% |
+3,087
| New | +$216K |
|
569
Synopsys
SNPS
$77.3B
| $212K | ﹤0.01% |
664
-1,509
| -69% | -$472K |
|
570
Accenture
ACN
$104B
| – | – |
-12,718
| Closed | -$3.27M |
|
571
Automatic Data Processing
ADP
$108B
| – | – |
-3,816
| Closed | -$863K |
|
572
Affirm
AFRM
$26.2B
| – | – |
-4,145,182
| Closed | -$77.8M |
|
573
Alkami Technology
ALKT
$2.02B
| – | – |
-18,644
| Closed | -$281K |
|
574
Applied Materials
AMAT
$434B
| – | – |
-30,713
| Closed | -$2.52M |
|
575
Advanced Micro Devices
AMD
$846B
| – | – |
-9,035
| Closed | -$572K |
|
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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.