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 | |
|---|---|---|---|---|---|---|
76
On Holding
ONON
$12.6B
| $213M | 0.15% |
4,848,438
+2,798,794
| +137% | +$147M |
|
77
ExxonMobil
XOM
$643B
| $211M | 0.15% |
1,774,811
+231,153
| +15% | +$25.6M |
|
78
PG&E
PCG
$38.4B
| $211M | 0.15% |
12,266,907
-165,553
| -1% | -$2.75M |
|
79
Unilever
UL
$137B
| $203M | 0.14% |
3,034,101
-36,731
| -1% | -$2.37M |
|
80
Cisco
CSCO
$457B
| $203M | 0.14% |
3,289,994
-151,239
| -4% | -$9.31M |
|
81
Chevron
CVX
$385B
| $199M | 0.14% |
1,189,354
+690,038
| +138% | +$108M |
|
82
Southern Company
SO
$107B
| $199M | 0.14% |
2,161,929
+623,417
| +41% | +$54M |
|
|
EMBJ
83
Embraer S.A. ADS
EMBJ
$12.6B
| $191M | 0.13% |
4,126,160
+2,819,306
| +216% | +$126M |
|
84
Parker-Hannifin
PH
$126B
| $187M | 0.13% |
308,098
-18,683
| -6% | -$12.2M |
|
85
Union Pacific
UNP
$173B
| $181M | 0.13% |
764,665
-35,105
| -4% | -$8.45M |
|
86
Arcutis Biotherapeutics
ARQT
$3.24B
| $178M | 0.12% |
11,360,875
-978,917
| -8% | -$13.8M |
|
87
RTX Corp
RTX
$292B
| $176M | 0.12% |
1,327,230
-186,785
| -12% | -$23.7M |
|
88
Ameren
AEE
$30.3B
| $170M | 0.12% |
1,692,115
+223,078
| +15% | +$21.5M |
|
89
Public Service Enterprise Group
PEG
$38.2B
| $163M | 0.11% |
1,975,626
-1,409,177
| -42% | -$118M |
|
90
Vistra
VST
$52.6B
| $162M | 0.11% |
1,383,432
-470,868
| -25% | -$70.4M |
|
91
AXIS Capital
AXS
$7.72B
| $161M | 0.11% |
1,604,995
-45,970
| -3% | -$4.24M |
|
92
Keysight
KEYS
$55B
| $159M | 0.11% |
1,063,270
+2,287
| +0.2% | +$378K |
|
93
Quanta Services
PWR
$102B
| $158M | 0.11% |
620,973
+504,540
| +433% | +$146M |
|
94
Reddit
RDDT
$29.8B
| $156M | 0.11% |
1,490,741
-1,537,043
| -51% | -$254M |
|
95
AbbVie
ABBV
$433B
| $156M | 0.11% |
744,940
-129,131
| -15% | -$25.1M |
|
96
East-West Bancorp
EWBC
$18.1B
| $153M | 0.11% |
1,701,640
+32,855
| +2% | +$3.13M |
|
|
PPL
97
PPL Corp
PPL
$26.5B
| $149M | 0.1% |
4,124,758
-82,197
| -2% | -$2.79M |
|
98
Markel Group
MKL
$23.3B
| $149M | 0.1% |
79,631
+896
| +1% | +$1.65M |
|
99
argenx
ARGX
$52B
| $148M | 0.1% |
249,461
-52,688
| -17% | -$33.3M |
|
100
CMS Energy
CMS
$22.5B
| $141M | 0.1% |
1,872,284
-59,321
| -3% | -$4.14M |
|
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.