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 | |
|---|---|---|---|---|---|---|
601
W.W. Grainger
GWW
$61.4B
| – | – |
-2,707
| Closed | -$1.32M |
|
602
HP
HPQ
$26.4B
| – | – |
-21,996
| Closed | -$548K |
|
603
H&R Block
HRB
$5.84B
| – | – |
-12,563
| Closed | -$534K |
|
604
Jabil
JBL
$35.6B
| – | – |
-29,498
| Closed | -$1.7M |
|
605
Korn Ferry
KFY
$4.23B
| – | – |
-27,023
| Closed | -$1.27M |
|
606
KLA
KLAC
$255B
| – | – |
-72,850
| Closed | -$2.21M |
|
607
Labcorp
LH
$25.3B
| – | – |
-375,975
| Closed | -$66.2M |
|
608
Morningstar
MORN
$7.51B
| – | – |
-1,890
| Closed | -$401K |
|
609
Monolithic Power Systems
MPWR
$65.6B
| – | – |
-32,624
| Closed | -$11.9M |
|
610
Nurix Therapeutics
NRIX
$2.56B
| – | – |
-43,181
| Closed | -$563K |
|
611
Enviri
NVRI
$671M
| – | – |
-1,974,630
| Closed | -$7.38M |
|
612
NorthWestern Energy
NWE
$4.3B
| – | – |
-14,513
| Closed | -$715K |
|
613
Nexstar Media Group
NXST
$5.99B
| – | – |
-3,304
| Closed | -$551K |
|
614
Old Dominion Freight Line
ODFL
$45.6B
| – | – |
-13,064
| Closed | -$1.63M |
|
615
Opendoor
OPEN
$3.97B
| – | – |
-171,201
| Closed | -$515K |
|
616
Rogers Communications
RCI
$18.3B
| – | – |
-184,548
| Closed | -$7.11M |
|
617
Robert Half
RHI
$4.19B
| – | – |
-23,277
| Closed | -$1.78M |
|
618
Sea Limited
SE
$68.3B
| – | – |
-132,625
| Closed | -$7.43M |
|
619
SkinHealth Systems
SKIN
$91.4M
| – | – |
-37,151
| Closed | -$438K |
|
620
Champion Homes
SKY
$4.52B
| – | – |
-11,618
| Closed | -$614K |
|
621
Target
TGT
$67.3B
| – | – |
-1,554,638
| Closed | -$231M |
|
622
Toast
TOST
$19.6B
| – | – |
-22,858
| Closed | -$382K |
|
623
Texas Pacific Land
TPL
$27.3B
| – | – |
-9,261
| Closed | -$1.83M |
|
624
TSMC
TSM
$2.16T
| – | – |
-1,200,837
| Closed | -$82.3M |
|
625
Twilio
TWLO
$29.5B
| – | – |
-612,785
| Closed | -$42.4M |
|
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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.