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 | |
|---|---|---|---|---|---|---|
|
AZEK
576
DELISTED
The AZEK Co
AZEK
| – | – |
-13,527
| Closed | -$642K |
|
577
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.9B
| – | – |
-11,817
| Closed | -$1.08M |
|
578
Camtek
CAMT
$6.89B
| – | – |
-3,326
| Closed | -$269K |
|
579
Cabot Corp
CBT
$4.36B
| – | – |
-5,150
| Closed | -$470K |
|
580
Cognex
CGNX
$11.8B
| – | – |
-229,995
| Closed | -$8.25M |
|
581
Cigna
CI
$71.5B
| – | – |
-383,460
| Closed | -$106M |
|
582
CNX Resources
CNX
$5.11B
| – | – |
-17,340
| Closed | -$636K |
|
583
Constellium
CSTM
$4.02B
| – | – |
-173,310
| Closed | -$1.78M |
|
584
CareTrust REIT
CTRE
$9.72B
| – | – |
-37,681
| Closed | -$1.02M |
|
|
CWAN
585
DELISTED
Clearwater Analytics
CWAN
| – | – |
-41,365
| Closed | -$1.14M |
|
586
Delta Air Lines
DAL
$61.3B
| – | – |
-894,143
| Closed | -$54.1M |
|
587
DigitalBridge
DBRG
$2.94B
| – | – |
-44,825
| Closed | -$506K |
|
588
Duke Energy
DUK
$96.2B
| – | – |
-422,527
| Closed | -$45.5M |
|
589
Dyne Therapeutics
DYN
$4.89B
| – | – |
-1,211,915
| Closed | -$28.6M |
|
590
Electronic Arts
EA
$52.9B
| – | – |
-4,918
| Closed | -$720K |
|
591
iShares MSCI EAFE ETF
EFA
$79.4B
| – | – |
-2,927
| Closed | -$221K |
|
592
Edison International
EIX
$26.3B
| – | – |
-863,409
| Closed | -$68.9M |
|
593
Empire State Realty Trust
ESRT
$843M
| – | – |
-76,670
| Closed | -$791K |
|
594
Freeport-McMoran
FCX
$99.8B
| – | – |
-172,436
| Closed | -$6.57M |
|
595
FirstEnergy
FE
$27.7B
| – | – |
-1,451,095
| Closed | -$57.7M |
|
596
FormFactor
FORM
$8.92B
| – | – |
-24,159
| Closed | -$1.06M |
|
597
Gilead Sciences
GILD
$164B
| – | – |
-943,628
| Closed | -$87.2M |
|
598
Globant
GLOB
$1.66B
| – | – |
-802,547
| Closed | -$172M |
|
|
GMS
599
DELISTED
GMS Inc
GMS
| – | – |
-9,608
| Closed | -$815K |
|
|
GOGL
600
DELISTED
Golden Ocean Group
GOGL
| – | – |
-74,443
| Closed | -$667K |
|
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.