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 |
Eli Lilly
LLY
|
+$737M |
| 2 |
American Tower
AMT
|
+$687M |
| 3 |
NVO
Novo Nordisk
NVO
|
+$554M |
| 4 |
Abbott
ABT
|
+$553M |
| 5 |
SLB Ltd
SLB
|
+$449M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Shopify
SHOP
|
+$1.06B |
| 2 |
Netflix
NFLX
|
+$816M |
| 3 |
Match Group
MTCH
|
+$678M |
| 4 |
NVIDIA
NVDA
|
+$611M |
| 5 |
Intuitive Surgical
ISRG
|
+$530M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.17% |
| 2 | Consumer Discretionary | 21.87% |
| 3 | Healthcare | 15.92% |
| 4 | Financials | 9.87% |
| 5 | Communication Services | 8.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
676
Oceaneering
OII
$4.78B
| – | – |
-68,109
| Closed | -$1.03M |
|
677
Okta
OKTA
$24.4B
| – | – |
-1,804,757
| Closed | -$272M |
|
678
Old National Bancorp
ONB
$10.1B
| – | – |
-62,263
| Closed | -$1.02M |
|
679
Oracle
ORCL
$365B
| – | – |
-21,622
| Closed | -$1.79M |
|
680
Oshkosh
OSK
$8.84B
| – | – |
-79,036
| Closed | -$7.96M |
|
681
Ovintiv
OVV
$17B
| – | – |
-25,923
| Closed | -$1.4M |
|
682
Patrick Industries
PATK
$2.72B
| – | – |
-18,620
| Closed | -$749K |
|
683
Petrobras
PBR
$123B
| – | – |
-362,332
| Closed | -$5.36M |
|
684
Pinterest
PINS
$13.3B
| – | – |
-736,486
| Closed | -$18.1M |
|
685
Philip Morris
PM
$301B
| – | – |
-78,657
| Closed | -$7.39M |
|
686
PMV Pharmaceuticals
PMVP
$59.2M
| – | – |
-303,641
| Closed | -$6.32M |
|
687
PayPal
PYPL
$48.7B
| – | – |
-2,536
| Closed | -$293K |
|
688
Royal Caribbean
RCL
$85B
| – | – |
-856,540
| Closed | -$71.8M |
|
689
Sturm, Ruger & Co
RGR
$591M
| – | – |
-13,854
| Closed | -$965K |
|
690
Ross Stores
ROST
$80.7B
| – | – |
-314,603
| Closed | -$28.5M |
|
691
Sunrun
RUN
$2.3B
| – | – |
-200,061
| Closed | -$6.08M |
|
692
Sibanye-Stillwater
SBSW
$6.21B
| – | – |
-283,498
| Closed | -$4.6M |
|
693
SiteOne Landscape Supply
SITE
$4.11B
| – | – |
-1,730
| Closed | -$280K |
|
694
Tenet Healthcare
THC
$20.4B
| – | – |
-15,077
| Closed | -$1.3M |
|
695
Towne Bank
TOWN
$3.48B
| – | – |
-26,249
| Closed | -$786K |
|
696
T. Rowe Price
TROW
$24.2B
| – | – |
-5,180
| Closed | -$783K |
|
697
Trane Technologies
TT
$101B
| – | – |
-200,963
| Closed | -$30.7M |
|
698
Unity
U
$13.5B
| – | – |
-2,551
| Closed | -$253K |
|
699
Urban Edge Properties
UE
$2.86B
| – | – |
-107,571
| Closed | -$2.06M |
|
700
Upstart Holdings
UPST
$2.58B
| – | – |
-6,621
| Closed | -$722K |
|
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Jennison Associates's Q2 2022 Portfolio in Review
As of Q2 2022, Jennison Associates held 720 positions worth $100B, down 26% from $136B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Jennison Associates withdrew a net $3.7B in Q2 2022, closing 106 positions and reducing 265 holdings. Its most notable exit was Okta, an estimated $272M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 31% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Jennison Associates opened a new position in KBR worth $40.4M.
- Jennison Associates's largest Q2 2022 buy was KBR: 834,334 shares worth $40.4M.
- Jennison Associates added most to Eli Lilly in Q2 2022, an estimated $737M increase.
- Jennison Associates's biggest Q2 2022 reduction was Shopify, cutting an estimated $1.06B.
- Jennison Associates fully exited Okta in Q2 2022, selling an estimated $272M.
- Jennison Associates's ten largest holdings make up 41% of its $100B portfolio in Q2 2022.
- Jennison Associates opened 95 new positions and closed 106 in Q2 2022.
- Jennison Associates's portfolio value fell 26% quarter-over-quarter to $100B.
Based on Jennison Associates's 13F filing for Q2 2022, filed 2 Aug 2022.