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
|
+$1.58B |
| 2 |
Amphenol
APH
|
+$1.06B |
| 3 |
Eli Lilly
LLY
|
+$896M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$780M |
| 5 |
Snowflake
SNOW
|
+$615M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$2.24B |
| 2 |
NVIDIA
NVDA
|
+$1.89B |
| 3 |
Mercado Libre
MELI
|
+$1.5B |
| 4 |
Netflix
NFLX
|
+$1.32B |
| 5 |
Nike
NKE
|
+$826M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 41.63% |
| 2 | Communication Services | 15.64% |
| 3 | Consumer Discretionary | 12.05% |
| 4 | Healthcare | 9.65% |
| 5 | Financials | 6.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
EMBJ
51
Embraer S.A. ADS
EMBJ
$13B
| $369M | 0.22% |
5,729,568
+174,810
| +3% | +$11M |
|
52
Cloudflare
NET
$107B
| $367M | 0.22% |
1,863,612
+1,657,144
| +803% | +$351M |
|
53
Texas Instruments
TXN
$261B
| $356M | 0.21% |
2,050,925
+329,964
| +19% | +$56.5M |
|
54
Bank of America
BAC
$442B
| $320M | 0.19% |
5,821,274
+3,838,627
| +194% | +$203M |
|
55
AstraZeneca
AZN
$250B
| $309M | 0.19% |
1,681,423
-161,409
| -9% | -$28.3M |
|
56
CenterPoint Energy
CNP
$26.8B
| $296M | 0.18% |
7,722,893
+1,256,993
| +19% | +$49M |
|
57
Eldorado Gold
EGO
$9.89B
| $290M | 0.17% |
8,077,905
-95,098
| -1% | -$2.85M |
|
58
Cisco
CSCO
$479B
| $286M | 0.17% |
3,716,184
-515,212
| -12% | -$38.2M |
|
59
TJX Companies
TJX
$178B
| $277M | 0.17% |
1,803,226
+40,899
| +2% | +$6.05M |
|
60
AbbVie
ABBV
$435B
| $271M | 0.16% |
1,186,974
+566,990
| +91% | +$129M |
|
61
Shell
SHEL
$245B
| $266M | 0.16% |
3,615,220
+904,807
| +33% | +$66.7M |
|
62
PNC Financial Services
PNC
$101B
| $255M | 0.15% |
1,220,014
-114,615
| -9% | -$22.1M |
|
63
KKR & Co
KKR
$92.3B
| $252M | 0.15% |
1,978,888
-41,066
| -2% | -$5.11M |
|
64
MetLife
MET
$62.1B
| $245M | 0.15% |
3,102,885
-43,175
| -1% | -$3.42M |
|
65
Entergy
ETR
$50B
| $242M | 0.15% |
2,618,834
+58,146
| +2% | +$5.52M |
|
66
Northrop Grumman
NOC
$81.2B
| $229M | 0.14% |
401,664
+293,909
| +273% | +$171M |
|
67
Vistra
VST
$47.4B
| $218M | 0.13% |
1,353,285
-332,704
| -20% | -$60.6M |
|
68
Sea Limited
SE
$69.5B
| $207M | 0.12% |
1,619,291
-4,368,154
| -73% | -$647M |
|
69
Cheniere Energy
LNG
$52.9B
| $200M | 0.12% |
1,029,213
-451,368
| -30% | -$94.8M |
|
70
Ralph Lauren
RL
$23.6B
| $197M | 0.12% |
558,012
-46,716
| -8% | -$15.9M |
|
71
Arcutis Biotherapeutics
ARQT
$3.18B
| $196M | 0.12% |
6,758,006
-5,496,113
| -45% | -$141M |
|
72
Union Pacific
UNP
$174B
| $196M | 0.12% |
846,453
-5,657
| -0.7% | -$1.29M |
|
73
argenx
ARGX
$54.1B
| $193M | 0.12% |
229,761
-10,467
| -4% | -$8.96M |
|
|
CYBR
74
DELISTED
CyberArk
CYBR
| $192M | 0.12% |
429,883
-32,115
| -7% | -$15.5M |
|
75
Sempra
SRE
$54.8B
| $190M | 0.11% |
2,156,356
-40,488
| -2% | -$3.69M |
|
Similar funds
Jennison Associates's Q4 2025 Portfolio in Review
As of Q4 2025, Jennison Associates held 652 positions worth $167B, down 3% from $172B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Jennison Associates withdrew a net $7.12B in Q4 2025, closing 78 positions and reducing 263 holdings. Its most notable exit was Nike, an estimated $826M position sold in full.
By sector, the portfolio is most concentrated in Technology at 42% of assets, up from 41% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in Merck worth $585M.
- Jennison Associates's largest Q4 2025 buy was Merck: 5,559,488 shares worth $585M.
- Jennison Associates added most to Advanced Micro Devices in Q4 2025, an estimated $1.58B increase.
- Jennison Associates's biggest Q4 2025 reduction was Meta Platforms (Facebook), cutting an estimated $2.24B.
- Jennison Associates fully exited Nike in Q4 2025, selling an estimated $826M.
- Jennison Associates's ten largest holdings make up 48% of its $167B portfolio in Q4 2025.
- Jennison Associates opened 92 new positions and closed 78 in Q4 2025.
- Jennison Associates's portfolio value fell 3% quarter-over-quarter to $167B.
Based on Jennison Associates's 13F filing for Q4 2025, filed 30 Jan 2026.