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 | |
|---|---|---|---|---|---|---|
101
Home Depot
HD
$339B
| $140M | 0.1% |
383,330
-1,429,333
| -79% | -$557M |
|
102
Targa Resources
TRGP
$56.8B
| $138M | 0.1% |
687,802
-232,848
| -25% | -$46.2M |
|
103
Bank of America
BAC
$437B
| $134M | 0.09% |
3,210,244
-2,107,115
| -40% | -$93.9M |
|
104
Performance Food Group
PFGC
$18B
| $133M | 0.09% |
1,688,091
+20,400
| +1% | +$1.7M |
|
105
Exelon
EXC
$47B
| $132M | 0.09% |
2,868,449
+1,061,533
| +59% | +$44.4M |
|
106
Kirby Corp
KEX
$6.98B
| $131M | 0.09% |
1,300,103
+107,240
| +9% | +$11.2M |
|
107
MakeMyTrip
MMYT
$5.81B
| $131M | 0.09% |
1,340,129
-645,247
| -32% | -$66.6M |
|
108
American Electric Power
AEP
$69.9B
| $130M | 0.09% |
1,193,007
+247,745
| +26% | +$25.1M |
|
109
Shift4
FOUR
$4.31B
| $130M | 0.09% |
1,595,376
-739,885
| -32% | -$76.2M |
|
110
Independence Realty Trust
IRT
$3.95B
| $130M | 0.09% |
6,136,939
-2,713
| -0% | -$54.6K |
|
111
CVS Health
CVS
$134B
| $128M | 0.09% |
1,896,341
+1,582,257
| +504% | +$94.7M |
|
112
Tarsus Pharmaceuticals
TARS
$2.68B
| $128M | 0.09% |
2,492,640
-7,492
| -0.3% | -$370K |
|
113
Gates Industrial Corporation Ltd.
GTES
$7.44B
| $127M | 0.09% |
6,919,403
+1,618,598
| +31% | +$33.4M |
|
114
Truist Financial
TFC
$63.4B
| $127M | 0.09% |
3,079,749
-155,774
| -5% | -$6.94M |
|
115
Ralph Lauren
RL
$22.6B
| $125M | 0.09% |
565,687
+79,934
| +16% | +$19.8M |
|
116
Burlington
BURL
$23.2B
| $124M | 0.09% |
521,713
+27,069
| +5% | +$7.01M |
|
117
3M
MMM
$91.4B
| $124M | 0.09% |
842,174
+386,093
| +85% | +$56.7M |
|
118
Eldorado Gold
EGO
$8.37B
| $122M | 0.09% |
7,245,804
+155,619
| +2% | +$2.34M |
|
119
Analog Devices
ADI
$176B
| $121M | 0.08% |
598,137
-1,898,941
| -76% | -$410M |
|
120
GE HealthCare
GEHC
$31.5B
| $120M | 0.08% |
1,490,193
-219,442
| -13% | -$18.9M |
|
121
Sempra
SRE
$57.3B
| $120M | 0.08% |
1,682,096
-315,446
| -16% | -$24.6M |
|
122
Evergy
EVRG
$19.2B
| $119M | 0.08% |
1,730,849
+174,269
| +11% | +$11.4M |
|
123
Dominion Energy
D
$60.5B
| $117M | 0.08% |
2,086,948
+841,982
| +68% | +$46.3M |
|
124
IBM
IBM
$213B
| $116M | 0.08% |
466,565
-33,507
| -7% | -$8.2M |
|
125
Churchill Downs
CHDN
$5.82B
| $114M | 0.08% |
1,030,846
+30,444
| +3% | +$3.64M |
|
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.