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 |
NVIDIA
NVDA
|
+$882M |
| 2 |
Netflix
NFLX
|
+$813M |
| 3 |
T-Mobile US
TMUS
|
+$722M |
| 4 |
Intuitive Surgical
ISRG
|
+$301M |
| 5 |
DexCom
DXCM
|
+$246M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$2.03B |
| 2 |
Salesforce
CRM
|
+$890M |
| 3 |
CrowdStrike
CRWD
|
+$654M |
| 4 |
Apple
AAPL
|
+$542M |
| 5 |
Atlassian
TEAM
|
+$353M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.75% |
| 2 | Healthcare | 20.44% |
| 3 | Consumer Discretionary | 17.04% |
| 4 | Financials | 10.94% |
| 5 | Communication Services | 8.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
PepsiCo
PEP
$190B
| $179M | 0.18% |
990,500
+31,875
| +3% | +$5.69M |
|
77
Ulta Beauty
ULTA
$22B
| $175M | 0.18% |
372,453
+369,226
| +11,442% | +$159M |
|
78
Walmart Inc
WMT
$885B
| $172M | 0.17% |
3,634,047
-44,382
| -1% | -$2.11M |
|
79
MetLife
MET
$61.9B
| $170M | 0.17% |
2,347,800
-33,675
| -1% | -$2.41M |
|
80
Chevron
CVX
$392B
| $170M | 0.17% |
944,792
+10,125
| +1% | +$1.77M |
|
81
PNC Financial Services
PNC
$99.7B
| $168M | 0.17% |
1,061,190
-30,758
| -3% | -$4.84M |
|
82
Cadence Design Systems
CDNS
$93.6B
| $167M | 0.17% |
1,039,659
+1,026,066
| +7,548% | +$164M |
|
83
Sempra
SRE
$57.9B
| $163M | 0.17% |
2,113,496
+19,954
| +1% | +$1.54M |
|
84
Exelon
EXC
$47.2B
| $160M | 0.16% |
3,699,632
+72,412
| +2% | +$2.86M |
|
|
PDCE
85
DELISTED
PDC Energy, Inc.
PDCE
| $158M | 0.16% |
2,493,611
-64,590
| -3% | -$4.5M |
|
86
CMS Energy
CMS
$22.6B
| $157M | 0.16% |
2,475,534
-1,589
| -0.1% | -$93.9K |
|
87
Bank of America
BAC
$435B
| $156M | 0.16% |
4,712,811
-178,881
| -4% | -$6.16M |
|
|
HES
88
DELISTED
Hess
HES
| $156M | 0.16% |
1,100,321
+90,795
| +9% | +$12.5M |
|
89
Deere & Co
DE
$160B
| $154M | 0.16% |
358,068
+56,772
| +19% | +$23.1M |
|
90
Merck
MRK
$322B
| $153M | 0.16% |
1,381,554
+515,532
| +60% | +$52.7M |
|
91
RTX Corp
RTX
$290B
| $153M | 0.15% |
1,514,427
+20,930
| +1% | +$1.97M |
|
92
Spotify
SPOT
$103B
| $148M | 0.15% |
1,871,428
-119,548
| -6% | -$9.64M |
|
93
Truist Financial
TFC
$63.3B
| $145M | 0.15% |
3,375,293
-81,490
| -2% | -$3.57M |
|
94
Johnson Controls International
JCI
$88.8B
| $139M | 0.14% |
2,166,304
-28,751
| -1% | -$1.76M |
|
95
DTE Energy
DTE
$29.5B
| $135M | 0.14% |
1,148,902
+163,721
| +17% | +$18.6M |
|
96
Trinity Industries
TRN
$2.49B
| $131M | 0.13% |
4,422,947
+157,681
| +4% | +$4.39M |
|
|
APLS
97
DELISTED
Apellis Pharmaceuticals
APLS
| $130M | 0.13% |
2,515,317
-19,395
| -0.8% | -$1.03M |
|
98
Chord Energy
CHRD
$7.9B
| $128M | 0.13% |
938,734
+110,714
| +13% | +$16.2M |
|
99
Williams Companies
WMB
$87.5B
| $128M | 0.13% |
3,890,702
-2,340,029
| -38% | -$76.2M |
|
100
Shift4
FOUR
$4.2B
| $127M | 0.13% |
2,262,079
+314,734
| +16% | +$14.9M |
|
Similar funds
Jennison Associates's Q4 2022 Portfolio in Review
As of Q4 2022, Jennison Associates held 646 positions worth $98.7B, down 1.9% from $101B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Jennison Associates withdrew a net $3.42B in Q4 2022, closing 75 positions and reducing 267 holdings. Its most notable exit was Target, an estimated $231M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 27% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in ICICI Bank worth $102M.
- Jennison Associates's largest Q4 2022 buy was ICICI Bank: 4,644,701 shares worth $102M.
- Jennison Associates added most to NVIDIA in Q4 2022, an estimated $882M increase.
- Jennison Associates's biggest Q4 2022 reduction was Tesla, cutting an estimated $2.03B.
- Jennison Associates fully exited Target in Q4 2022, selling an estimated $231M.
- Jennison Associates's ten largest holdings make up 35% of its $98.7B portfolio in Q4 2022.
- Jennison Associates opened 47 new positions and closed 75 in Q4 2022.
- Jennison Associates's portfolio value fell 1.9% quarter-over-quarter to $98.7B.
Based on Jennison Associates's 13F filing for Q4 2022, filed 9 Feb 2023.