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 | |
|---|---|---|---|---|---|---|
51
NiSource
NI
$21.3B
| $464M | 0.33% |
11,577,832
+857,653
| +8% | +$33M |
|
52
Samsara
IOT
$21.7B
| $451M | 0.32% |
11,763,133
+11,169,571
| +1,882% | +$520M |
|
|
CYBR
53
DELISTED
CyberArk
CYBR
| $437M | 0.31% |
1,292,027
-311,717
| -19% | -$112M |
|
54
NextEra Energy
NEE
$181B
| $432M | 0.3% |
6,100,385
+80,101
| +1% | +$5.65M |
|
55
Texas Instruments
TXN
$252B
| $398M | 0.28% |
2,214,471
+2,140,605
| +2,898% | +$401M |
|
56
JPMorgan Chase
JPM
$935B
| $395M | 0.28% |
1,611,965
-124,570
| -7% | -$31.8M |
|
57
Adobe
ADBE
$99.5B
| $395M | 0.28% |
1,028,768
-833,566
| -45% | -$357M |
|
58
Sea Limited
SE
$65.4B
| $337M | 0.24% |
+2,578,905
| New | +$320M |
|
|
AXON
59
Axon Enterprise
AXON
$42.5B
| $323M | 0.23% |
614,053
+611,418
| +23,204% | +$358M |
|
60
Bristol-Myers Squibb
BMY
$133B
| $320M | 0.22% |
5,240,877
+1,578,043
| +43% | +$92M |
|
61
Cheniere Energy
LNG
$55.2B
| $314M | 0.22% |
1,357,271
-102,604
| -7% | -$23.1M |
|
62
LPL Financial
LPLA
$28.3B
| $314M | 0.22% |
959,371
+851,115
| +786% | +$296M |
|
63
Nu Holdings
NU
$69.2B
| $311M | 0.22% |
30,394,814
-6,089,119
| -17% | -$72M |
|
64
Vertiv
VRT
$93B
| $308M | 0.22% |
4,265,097
-3,489,250
| -45% | -$371M |
|
65
PNC Financial Services
PNC
$99.7B
| $299M | 0.21% |
1,699,526
+90,792
| +6% | +$17.1M |
|
66
UnitedHealth
UNH
$376B
| $263M | 0.18% |
502,076
+257,599
| +105% | +$132M |
|
67
Abbott
ABT
$183B
| $248M | 0.17% |
1,866,391
+665,027
| +55% | +$84.6M |
|
68
MetLife
MET
$61.9B
| $247M | 0.17% |
3,073,394
-200,864
| -6% | -$16.7M |
|
69
Chubb
CB
$135B
| $236M | 0.17% |
780,832
-114,512
| -13% | -$31.8M |
|
70
Shell
SHEL
$254B
| $220M | 0.15% |
3,006,802
-38,241
| -1% | -$2.58M |
|
71
Entergy
ETR
$50.2B
| $216M | 0.15% |
2,532,006
+108,450
| +4% | +$8.93M |
|
72
Gaming and Leisure Properties
GLPI
$12.7B
| $216M | 0.15% |
4,252,571
-34,547
| -0.8% | -$1.7M |
|
73
CenterPoint Energy
CNP
$27.7B
| $216M | 0.15% |
5,973,319
-847,654
| -12% | -$28.4M |
|
74
Williams Companies
WMB
$87.5B
| $216M | 0.15% |
3,619,140
-22,295
| -0.6% | -$1.28M |
|
75
Fair Isaac
FICO
$24.3B
| $215M | 0.15% |
116,546
-137,736
| -54% | -$255M |
|
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.