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 | |
|---|---|---|---|---|---|---|
551
Compass
COMP
$9.59B
| $513K | ﹤0.01% |
58,753
-42,981
| -42% | -$340K |
|
552
CBIZ
CBZ
$2.97B
| $485K | ﹤0.01% |
+6,396
| New | +$514K |
|
553
Duolingo
DUOL
$6.3B
| $484K | ﹤0.01% |
+1,560
| New | +$534K |
|
554
Arm
ARM
$293B
| $479K | ﹤0.01% |
4,482
-53
| -1% | -$7.39K |
|
555
Planet Labs
PL
$7.97B
| $474K | ﹤0.01% |
140,368
-17,574
| -11% | -$82.3K |
|
556
Ross Stores
ROST
$81.2B
| $472K | ﹤0.01% |
3,694
-1,853
| -33% | -$259K |
|
557
GitLab
GTLB
$6.11B
| $466K | ﹤0.01% |
+9,908
| New | +$606K |
|
558
Hubbell
HUBB
$27.1B
| $462K | ﹤0.01% |
1,395
-61,182
| -98% | -$23.7M |
|
|
NEE.PRT
559
NextEra Energy 7.234% Corporate Units
NEE.PRT
$1.46B
| $459K | ﹤0.01% |
10,076
| – | – |
|
560
Biohaven
BHVN
$2.05B
| $451K | ﹤0.01% |
18,741
-78,791
| -81% | -$2.78M |
|
561
Onto Innovation
ONTO
$13.7B
| $381K | ﹤0.01% |
3,142
+90
| +3% | +$15.2K |
|
|
562
Advanced Micro Devices
AMD
$786B
| $366K | ﹤0.01% |
3,558
-9,096,394
| -100% | -$1.01B |
|
563
Hershey
HSY
$36.1B
| $350K | ﹤0.01% |
2,047
-163,061
| -99% | -$26.7M |
|
564
Kura Sushi USA
KRUS
$598M
| $344K | ﹤0.01% |
6,709
+1,411
| +27% | +$99.6K |
|
565
iShares S&P 500 Growth ETF
IVW
$77.1B
| $336K | ﹤0.01% |
3,616
-13,696
| -79% | -$1.38M |
|
566
Starwood Property Trust
STWD
$6.01B
| $246K | ﹤0.01% |
12,425
| – | – |
|
567
ReNew
RNW
$2.23B
| $190K | ﹤0.01% |
32,333
| – | – |
|
568
ADMA Biologics
ADMA
$2.15B
| – | – |
-44,640
| Closed | -$766K |
|
569
American Eagle Outfitters
AEO
$2.99B
| – | – |
-47,055
| Closed | -$784K |
|
570
Acadia Realty Trust
AKR
$2.95B
| – | – |
-42,743
| Closed | -$1.03M |
|
571
Align Technology
ALGN
$12.5B
| – | – |
-106,159
| Closed | -$22.1M |
|
572
Ameresco
AMRC
$1.36B
| – | – |
-273,559
| Closed | -$6.42M |
|
573
AnaptysBio
ANAB
$1.63B
| – | – |
-269,131
| Closed | -$3.56M |
|
574
Alphatec Holdings
ATEC
$1.47B
| – | – |
-83,303
| Closed | -$765K |
|
575
Avantor
AVTR
$9.04B
| – | – |
-1,244,461
| Closed | -$26.2M |
|
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.