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 | |
|---|---|---|---|---|---|---|
|
HEES
601
DELISTED
H&E Equipment Services
HEES
| – | – |
-10,170
| Closed | -$498K |
|
602
Hilltop Holdings
HTH
$2.27B
| – | – |
-454,929
| Closed | -$13M |
|
603
ICU Medical
ICUI
$4.14B
| – | – |
-3,586
| Closed | -$556K |
|
604
iShares MSCI India ETF
INDA
$6.62B
| – | – |
-929,467
| Closed | -$48.9M |
|
605
Innodata
INOD
$2.32B
| – | – |
-10,169
| Closed | -$402K |
|
606
Iovance Biotherapeutics
IOVA
$2.72B
| – | – |
-66,568
| Closed | -$493K |
|
607
KBR
KBR
$4.72B
| – | – |
-741,952
| Closed | -$43M |
|
608
Kraft Heinz
KHC
$29.3B
| – | – |
-10,474
| Closed | -$322K |
|
609
Kosmos Energy
KOS
$1.42B
| – | – |
-4,576,188
| Closed | -$15.7M |
|
610
Lennar Class A
LEN
$20.7B
| – | – |
-315,003
| Closed | -$41.6M |
|
611
Life Time Group Holdings
LTH
$9.93B
| – | – |
-33,600
| Closed | -$743K |
|
612
lululemon athletica
LULU
$14.2B
| – | – |
-1,074
| Closed | -$411K |
|
613
Lamb Weston
LW
$7.26B
| – | – |
-16,807
| Closed | -$1.12M |
|
614
Mercury Insurance
MCY
$5.99B
| – | – |
-12,206
| Closed | -$811K |
|
615
MongoDB
MDB
$30.1B
| – | – |
-18,590
| Closed | -$4.33M |
|
616
Magnite
MGNI
$3.59B
| – | – |
-51,373
| Closed | -$818K |
|
617
Modine Manufacturing
MOD
$10.6B
| – | – |
-6,039
| Closed | -$700K |
|
618
Maravai LifeSciences
MRVI
$928M
| – | – |
-2,990,414
| Closed | -$16.3M |
|
619
Micron Technology
MU
$1.01T
| – | – |
-6,112
| Closed | -$514K |
|
620
Enpro
NPO
$7.17B
| – | – |
-40,832
| Closed | -$7.04M |
|
621
Insight Enterprises
NSIT
$4.35B
| – | – |
-4,133
| Closed | -$629K |
|
622
Bank of N.T. Butterfield & Son
NTB
$2.44B
| – | – |
-52,016
| Closed | -$1.9M |
|
623
NVR
NVR
$16.9B
| – | – |
-37,550
| Closed | -$307M |
|
624
Otis Worldwide
OTIS
$27.9B
| – | – |
-766,705
| Closed | -$71M |
|
625
Portland General Electric
POR
$5.8B
| – | – |
-44,997
| Closed | -$1.96M |
|
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.