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 |
Advanced Micro Devices
AMD
|
+$1.32B |
| 2 |
AstraZeneca
AZN
|
+$733M |
| 3 |
Microsoft
MSFT
|
+$728M |
| 4 |
Cadence Design Systems
CDNS
|
+$720M |
| 5 |
Moody's
MCO
|
+$359M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alcon
ALC
|
+$1.43B |
| 2 |
Estee Lauder
EL
|
+$872M |
| 3 |
Eli Lilly
LLY
|
+$626M |
| 4 |
Netflix
NFLX
|
+$521M |
| 5 |
UnitedHealth
UNH
|
+$466M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.19% |
| 2 | Consumer Discretionary | 19.62% |
| 3 | Healthcare | 16.16% |
| 4 | Financials | 9.12% |
| 5 | Communication Services | 8.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
51
Moody's
MCO
$83.7B
| $377M | 0.35% |
1,233,375
+1,186,718
| +2,543% | +$359M |
|
52
Mobileye
MBLY
$2.04B
| $377M | 0.35% |
+8,710,759
| New | +$341M |
|
53
Abbott
ABT
$185B
| $358M | 0.33% |
3,534,494
-2,856,462
| -45% | -$302M |
|
54
TSMC
TSM
$2.11T
| $319M | 0.29% |
+3,426,810
| New | +$308M |
|
55
McDonald's
MCD
$188B
| $292M | 0.27% |
1,043,636
-112,983
| -10% | -$30.3M |
|
56
ConocoPhillips
COP
$145B
| $285M | 0.26% |
2,876,421
-1,140,499
| -28% | -$125M |
|
57
Northrop Grumman
NOC
$77.9B
| $279M | 0.26% |
604,847
-450,050
| -43% | -$209M |
|
|
58
Estee Lauder
EL
$30.6B
| $266M | 0.24% |
1,077,401
-3,431,518
| -76% | -$872M |
|
59
NiSource
NI
$21.3B
| $263M | 0.24% |
9,389,906
+5,730,350
| +157% | +$157M |
|
60
JPMorgan Chase
JPM
$937B
| $247M | 0.23% |
1,898,161
-97,181
| -5% | -$13.3M |
|
61
CenterPoint Energy
CNP
$27.6B
| $246M | 0.23% |
8,365,901
-859,390
| -9% | -$25.1M |
|
62
AbbVie
ABBV
$433B
| $245M | 0.23% |
1,539,469
-505,661
| -25% | -$77.3M |
|
63
Roblox
RBLX
$26.2B
| $243M | 0.22% |
5,400,897
-1,901,157
| -26% | -$72.7M |
|
64
Arista Networks
ANET
$233B
| $234M | 0.21% |
5,572,744
+4,477,900
| +409% | +$154M |
|
65
Bristol-Myers Squibb
BMY
$134B
| $224M | 0.21% |
3,229,541
-163,385
| -5% | -$11.5M |
|
66
Ulta Beauty
ULTA
$23B
| $213M | 0.2% |
390,124
+17,671
| +5% | +$9.07M |
|
67
American Express
AXP
$233B
| $212M | 0.19% |
1,286,952
+1,250,511
| +3,432% | +$207M |
|
68
Linde
LIN
$222B
| $211M | 0.19% |
593,118
+11,755
| +2% | +$3.94M |
|
69
Applied Materials
AMAT
$411B
| $198M | 0.18% |
+1,611,686
| New | +$185M |
|
70
PG&E
PCG
$38.4B
| $183M | 0.17% |
11,336,512
-860,212
| -7% | -$13.6M |
|
71
Humana
HUM
$45B
| $183M | 0.17% |
376,618
+11,649
| +3% | +$5.76M |
|
72
Targa Resources
TRGP
$56.8B
| $182M | 0.17% |
2,490,680
-520,941
| -17% | -$38.4M |
|
73
Chubb
CB
$134B
| $180M | 0.17% |
927,102
-68,144
| -7% | -$14.3M |
|
74
Performance Food Group
PFGC
$18B
| $178M | 0.16% |
2,946,282
-493,514
| -14% | -$28.8M |
|
|
APLS
75
DELISTED
Apellis Pharmaceuticals
APLS
| $172M | 0.16% |
2,612,767
+97,450
| +4% | +$5.62M |
|
Similar funds
Jennison Associates's Q1 2023 Portfolio in Review
As of Q1 2023, Jennison Associates held 644 positions worth $109B, up 10% from $98.7B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Jennison Associates withdrew a net $3.94B in Q1 2023, closing 63 positions and reducing 280 holdings. Its most notable exit was Alcon, an estimated $1.43B position sold in full.
By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 26% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Jennison Associates opened a new position in Advanced Micro Devices worth $1.59B.
- Jennison Associates's largest Q1 2023 buy was Advanced Micro Devices: 16,272,765 shares worth $1.59B.
- Jennison Associates added most to AstraZeneca in Q1 2023, an estimated $733M increase.
- Jennison Associates's biggest Q1 2023 reduction was Estee Lauder, cutting an estimated $872M.
- Jennison Associates fully exited Alcon in Q1 2023, selling an estimated $1.43B.
- Jennison Associates's ten largest holdings make up 39% of its $109B portfolio in Q1 2023.
- Jennison Associates opened 73 new positions and closed 63 in Q1 2023.
- Jennison Associates's portfolio value rose 10% quarter-over-quarter to $109B.
Based on Jennison Associates's 13F filing for Q1 2023, filed 26 Apr 2023.