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 | |
|---|---|---|---|---|---|---|
76
Idacorp
IDA
$8.2B
| $188M | 0.11% |
1,483,648
+113,579
| +8% | +$14.8M |
|
77
RTX Corp
RTX
$301B
| $184M | 0.11% |
1,003,143
+493,288
| +97% | +$85.7M |
|
78
Tarsus Pharmaceuticals
TARS
$2.84B
| $183M | 0.11% |
2,230,069
-374,511
| -14% | -$28M |
|
79
General Motors
GM
$76.8B
| $176M | 0.11% |
2,160,491
+843,185
| +64% | +$59.4M |
|
80
Chubb
CB
$135B
| $173M | 0.1% |
554,588
-32,234
| -5% | -$9.43M |
|
81
M&T Bank
MTB
$36.2B
| $167M | 0.1% |
829,772
-10,883
| -1% | -$2.08M |
|
82
Danaher
DHR
$144B
| $167M | 0.1% |
730,178
+304,603
| +72% | +$67M |
|
83
IBM
IBM
$224B
| $167M | 0.1% |
563,006
-34,236
| -6% | -$10.3M |
|
84
Truist Financial
TFC
$64B
| $165M | 0.1% |
3,349,465
-569,529
| -15% | -$26.2M |
|
85
Keysight
KEYS
$58.3B
| $165M | 0.1% |
810,967
+1,172
| +0.1% | +$217K |
|
86
Lowe's Companies
LOW
$125B
| $165M | 0.1% |
682,688
+13,132
| +2% | +$3.15M |
|
87
Tower Semiconductor
TSEM
$28.5B
| $164M | 0.1% |
1,398,987
-932,844
| -40% | -$89.9M |
|
88
Lincoln National
LNC
$8.81B
| $164M | 0.1% |
3,681,158
+1,361,835
| +59% | +$56.7M |
|
89
Gaming and Leisure Properties
GLPI
$12.8B
| $161M | 0.1% |
3,597,211
-627,926
| -15% | -$27.8M |
|
90
Dell
DELL
$293B
| $161M | 0.1% |
1,276,677
+88,712
| +7% | +$12.5M |
|
91
Thermo Fisher Scientific
TMO
$220B
| $161M | 0.1% |
277,111
+25,644
| +10% | +$14.5M |
|
92
Five Below
FIVE
$13.5B
| $159M | 0.1% |
842,771
+23,269
| +3% | +$3.78M |
|
93
Chevron
CVX
$366B
| $158M | 0.09% |
1,036,502
+4,665
| +0.5% | +$710K |
|
94
Markel Group
MKL
$23.2B
| $157M | 0.09% |
73,199
+5,346
| +8% | +$10.8M |
|
95
Toll Brothers
TOL
$14.5B
| $147M | 0.09% |
1,090,590
+372,976
| +52% | +$50.6M |
|
96
PG&E
PCG
$38.5B
| $147M | 0.09% |
9,132,573
-1,675,280
| -16% | -$26.8M |
|
97
Lam Research
LRCX
$390B
| $145M | 0.09% |
849,955
+53,347
| +7% | +$8.3M |
|
98
Xcel Energy
XEL
$48.8B
| $145M | 0.09% |
1,961,795
+181,303
| +10% | +$14.3M |
|
99
Lattice Semiconductor
LSCC
$18.5B
| $144M | 0.09% |
1,960,900
+688,114
| +54% | +$49M |
|
100
Ameren
AEE
$30.1B
| $144M | 0.09% |
1,440,327
-27,488
| -2% | -$2.82M |
|
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.