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 |
Oracle
ORCL
|
+$2.24B |
| 2 |
Apple
AAPL
|
+$1.14B |
| 3 |
Tesla
TSLA
|
+$1.05B |
| 4 |
Shopify
SHOP
|
+$1B |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$901M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vertex Pharmaceuticals
VRTX
|
+$1.13B |
| 2 |
Netflix
NFLX
|
+$1.1B |
| 3 |
NVO
Novo Nordisk
NVO
|
+$1.03B |
| 4 |
Eli Lilly
LLY
|
+$931M |
| 5 |
Trade Desk
TTD
|
+$899M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.77% |
| 2 | Communication Services | 17.54% |
| 3 | Consumer Discretionary | 14.14% |
| 4 | Healthcare | 7% |
| 5 | Financials | 6.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Alnylam Pharmaceuticals
ALNY
$29.5B
| $139M | 0.08% |
304,863
-45,207
| -13% | -$18.4M |
|
102
Crown Holdings
CCK
$13B
| $139M | 0.08% |
1,439,118
+73,544
| +5% | +$7.38M |
|
|
PPL
103
PPL Corp
PPL
$26.5B
| $138M | 0.08% |
3,708,735
-365,681
| -9% | -$13.1M |
|
104
Wintrust Financial
WTFC
$10.9B
| $135M | 0.08% |
1,020,660
+83,826
| +9% | +$11.1M |
|
105
Public Service Enterprise Group
PEG
$38.2B
| $130M | 0.08% |
1,558,080
-61,751
| -4% | -$5.18M |
|
106
Markel Group
MKL
$23.3B
| $130M | 0.08% |
67,853
-12,266
| -15% | -$24M |
|
107
AXIS Capital
AXS
$7.72B
| $128M | 0.07% |
1,334,450
-115,686
| -8% | -$11.2M |
|
108
Five Below
FIVE
$12B
| $127M | 0.07% |
819,502
+654,763
| +397% | +$92.6M |
|
109
Pinterest
PINS
$13.5B
| $124M | 0.07% |
3,867,869
+242,283
| +7% | +$8.79M |
|
110
Prologis
PLD
$135B
| $124M | 0.07% |
1,083,889
-14,251
| -1% | -$1.57M |
|
111
Evergy
EVRG
$19.2B
| $124M | 0.07% |
1,631,532
-78,044
| -5% | -$5.56M |
|
112
Gates Industrial Corporation Ltd.
GTES
$7.44B
| $123M | 0.07% |
4,935,881
-142,464
| -3% | -$3.54M |
|
113
Thermo Fisher Scientific
TMO
$213B
| $122M | 0.07% |
251,467
+85,475
| +51% | +$39.8M |
|
114
CMS Energy
CMS
$22.5B
| $121M | 0.07% |
1,652,130
-200,016
| -11% | -$14.4M |
|
115
Houlihan Lokey
HLI
$8.77B
| $121M | 0.07% |
589,093
+119,440
| +25% | +$23.4M |
|
|
MRSH
116
Marsh
MRSH
$92B
| $121M | 0.07% |
600,013
-451,042
| -43% | -$92.8M |
|
117
VSE Corp
VSEC
$5.81B
| $121M | 0.07% |
725,383
-45,258
| -6% | -$6.9M |
|
|
TLN
118
Talen Energy Corp
TLN
$16.5B
| $120M | 0.07% |
281,659
+130,773
| +87% | +$47.2M |
|
119
NewAmsterdam Pharma
NAMS
$3.21B
| $119M | 0.07% |
4,198,554
+1,252,451
| +43% | +$30M |
|
120
ExxonMobil
XOM
$643B
| $115M | 0.07% |
1,020,528
-807,070
| -44% | -$89.7M |
|
121
Encompass Health
EHC
$11.2B
| $114M | 0.07% |
894,511
+101,274
| +13% | +$12.1M |
|
122
Caterpillar
CAT
$382B
| $113M | 0.07% |
236,906
-3,148
| -1% | -$1.34M |
|
123
Core & Main
CNM
$8.56B
| $112M | 0.07% |
2,087,166
+614,595
| +42% | +$37.2M |
|
124
Exelon
EXC
$47B
| $112M | 0.07% |
2,487,162
-121,516
| -5% | -$5.34M |
|
125
GE HealthCare
GEHC
$31.5B
| $111M | 0.06% |
1,474,947
+780,471
| +112% | +$58.2M |
|
Similar funds
Jennison Associates's Q3 2025 Portfolio in Review
As of Q3 2025, Jennison Associates held 667 positions worth $172B, up 1.9% from $169B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Jennison Associates withdrew a net $8.14B in Q3 2025, closing 107 positions and reducing 253 holdings. Its most notable exit was Fair Isaac, an estimated $172M position sold in full.
By sector, the portfolio is most concentrated in Technology at 41% of assets, up from 36% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in Advanced Micro Devices worth $627M.
- Jennison Associates's largest Q3 2025 buy was Advanced Micro Devices: 3,874,319 shares worth $627M.
- Jennison Associates added most to Oracle in Q3 2025, an estimated $2.24B increase.
- Jennison Associates's biggest Q3 2025 reduction was Vertex Pharmaceuticals, cutting an estimated $1.13B.
- Jennison Associates fully exited Fair Isaac in Q3 2025, selling an estimated $172M.
- Jennison Associates's ten largest holdings make up 47% of its $172B portfolio in Q3 2025.
- Jennison Associates opened 93 new positions and closed 107 in Q3 2025.
- Jennison Associates's portfolio value rose 1.9% quarter-over-quarter to $172B.
Based on Jennison Associates's 13F filing for Q3 2025, filed 30 Oct 2025.