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 | |
|---|---|---|---|---|---|---|
101
East-West Bancorp
EWBC
$18B
| $142M | 0.09% |
1,265,192
-294,648
| -19% | -$31.3M |
|
102
Churchill Downs
CHDN
$6.12B
| $140M | 0.08% |
1,233,495
-223,841
| -15% | -$23.2M |
|
103
Gulfport Energy Corp
GPOR
$2.88B
| $140M | 0.08% |
671,483
+83,613
| +14% | +$16.7M |
|
104
Southern Company
SO
$107B
| $139M | 0.08% |
1,596,263
-182,940
| -10% | -$16.7M |
|
105
Wintrust Financial
WTFC
$10.7B
| $139M | 0.08% |
993,304
-27,356
| -3% | -$3.64M |
|
106
UnitedHealth
UNH
$370B
| $137M | 0.08% |
415,600
+5,420
| +1% | +$1.84M |
|
107
Prologis
PLD
$133B
| $137M | 0.08% |
1,074,022
-9,867
| -0.9% | -$1.23M |
|
108
Williams Companies
WMB
$86.1B
| $130M | 0.08% |
2,166,100
-1,346,668
| -38% | -$81.4M |
|
109
Ameris Bancorp
ABCB
$5.89B
| $129M | 0.08% |
1,741,214
+414,920
| +31% | +$30.9M |
|
110
On Holding
ONON
$12.5B
| $125M | 0.08% |
2,699,144
-1,395,051
| -34% | -$60.1M |
|
111
VSE Corp
VSEC
$6.12B
| $125M | 0.08% |
723,779
-1,604
| -0.2% | -$274K |
|
112
ExxonMobil
XOM
$634B
| $124M | 0.07% |
1,033,901
+13,373
| +1% | +$1.55M |
|
113
Icon
ICLR
$12.7B
| $124M | 0.07% |
+677,981
| New | +$121M |
|
114
Public Service Enterprise Group
PEG
$37.7B
| $123M | 0.07% |
1,535,459
-22,621
| -1% | -$1.85M |
|
115
Scholar Rock
SRRK
$6.44B
| $123M | 0.07% |
2,795,188
+1,188,676
| +74% | +$44.6M |
|
116
NewAmsterdam Pharma
NAMS
$3.34B
| $122M | 0.07% |
3,489,221
-709,333
| -17% | -$25.8M |
|
117
Guardant Health
GH
$22.6B
| $120M | 0.07% |
1,170,337
-300,957
| -20% | -$26.9M |
|
118
Alliant Energy
LNT
$18B
| $117M | 0.07% |
1,805,214
+867,256
| +92% | +$58.1M |
|
119
CMS Energy
CMS
$22.3B
| $113M | 0.07% |
1,620,141
-31,989
| -2% | -$2.33M |
|
120
AXIS Capital
AXS
$7.55B
| $112M | 0.07% |
1,048,778
-285,672
| -21% | -$28.4M |
|
121
Burlington
BURL
$23.2B
| $112M | 0.07% |
387,666
-12,639
| -3% | -$3.43M |
|
122
CVS Health
CVS
$122B
| $111M | 0.07% |
1,395,959
+404,694
| +41% | +$31.9M |
|
123
Performance Food Group
PFGC
$18B
| $111M | 0.07% |
1,231,691
-325,300
| -21% | -$31.4M |
|
124
Alnylam Pharmaceuticals
ALNY
$29.3B
| $110M | 0.07% |
277,759
-27,104
| -9% | -$12M |
|
125
Gilead Sciences
GILD
$165B
| $109M | 0.07% |
889,187
+741,044
| +500% | +$90.1M |
|
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.