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 |
Boeing
BA
|
+$788M |
| 2 |
Netflix
NFLX
|
+$687M |
| 3 |
UnitedHealth
UNH
|
+$638M |
| 4 |
Trade Desk
TTD
|
+$513M |
| 5 |
Home Depot
HD
|
+$374M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$2.12B |
| 2 |
Tesla
TSLA
|
+$717M |
| 3 |
Uber
UBER
|
+$656M |
| 4 |
argenx
ARGX
|
+$579M |
| 5 |
Eli Lilly
LLY
|
+$473M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 38.7% |
| 2 | Consumer Discretionary | 19.7% |
| 3 | Healthcare | 12.45% |
| 4 | Communication Services | 10.26% |
| 5 | Financials | 7.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Xcel Energy
XEL
$48.8B
| $89.9M | 0.07% |
1,451,483
+942,097
| +185% | +$56.5M |
|
127
Acadia Healthcare
ACHC
$2.76B
| $89.3M | 0.07% |
1,148,755
+238,114
| +26% | +$17.6M |
|
128
Burlington
BURL
$23.2B
| $89.2M | 0.07% |
458,866
-19,086
| -4% | -$2.85M |
|
129
Fortive
FTV
$17.9B
| $86.6M | 0.06% |
1,561,421
+823,889
| +112% | +$43.4M |
|
130
WEX
WEX
$6.37B
| $85.9M | 0.06% |
441,597
-116,550
| -21% | -$21.1M |
|
131
Toll Brothers
TOL
$13.6B
| $85.8M | 0.06% |
834,899
+243,553
| +41% | +$20.3M |
|
132
Edison International
EIX
$28.2B
| $85.5M | 0.06% |
1,196,173
-243,089
| -17% | -$16M |
|
133
Enerpac Tool Group
EPAC
$1.83B
| $85.3M | 0.06% |
2,744,463
+82,602
| +3% | +$2.36M |
|
134
KBR
KBR
$4.62B
| $84.6M | 0.06% |
1,526,058
+99,196
| +7% | +$5.47M |
|
135
Ferrari
RACE
$69.2B
| $81.7M | 0.06% |
241,380
-37,341
| -13% | -$12.5M |
|
136
Teledyne Technologies
TDY
$30.4B
| $79.8M | 0.06% |
178,793
+60,335
| +51% | +$24.2M |
|
137
Freshpet
FRPT
$2.93B
| $79.5M | 0.06% |
915,827
+245,403
| +37% | +$16.8M |
|
138
SLB Ltd
SLB
$73.6B
| $79M | 0.06% |
1,517,243
-2,185,065
| -59% | -$119M |
|
139
Martin Marietta Materials
MLM
$31.5B
| $78.8M | 0.06% |
157,904
+77,596
| +97% | +$35M |
|
140
Brunswick
BC
$5.13B
| $78M | 0.06% |
806,396
+334,851
| +71% | +$26.6M |
|
141
Western Alliance Bancorporation
WAL
$8.79B
| $77.9M | 0.06% |
1,184,458
+624,957
| +112% | +$31.5M |
|
142
Ameren
AEE
$30.3B
| $77.1M | 0.06% |
1,065,872
-446,314
| -30% | -$33.9M |
|
143
Shell
SHEL
$254B
| $74.2M | 0.06% |
1,128,216
+34,459
| +3% | +$2.26M |
|
144
Bristol-Myers Squibb
BMY
$133B
| $71.5M | 0.05% |
1,393,554
-2,375,382
| -63% | -$125M |
|
145
Hexcel
HXL
$7.79B
| $71.5M | 0.05% |
969,034
-150,360
| -13% | -$10.2M |
|
146
Lam Research
LRCX
$367B
| $71.5M | 0.05% |
912,290
-586,340
| -39% | -$40M |
|
147
Boston Scientific
BSX
$69.5B
| $71M | 0.05% |
1,227,833
+15,596
| +1% | +$832K |
|
148
e.l.f. Beauty
ELF
$4.89B
| $70.7M | 0.05% |
490,067
-52,988
| -10% | -$6.11M |
|
149
Q2 Holdings
QTWO
$3.8B
| $70.2M | 0.05% |
1,616,825
+391,539
| +32% | +$13.9M |
|
150
Herc Holdings
HRI
$5.02B
| $69.4M | 0.05% |
466,119
+11,408
| +3% | +$1.4M |
|
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Jennison Associates's Q4 2023 Portfolio in Review
As of Q4 2023, Jennison Associates held 638 positions worth $134B, up 14% from $118B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Jennison Associates's Q4 2023 filing shows 77 new, 236 increased, 267 reduced and 55 closed positions. Its largest new stake was Boeing: 3,684,483 shares worth $960M. The largest sale was NVIDIA, an estimated $2.12B.
By sector, the portfolio is most concentrated in Technology at 39% of assets, up from 37% a quarter earlier, followed by Consumer Discretionary and Healthcare.
- Jennison Associates's largest Q4 2023 buy was Boeing: 3,684,483 shares worth $960M.
- Jennison Associates added most to Netflix in Q4 2023, an estimated $687M increase.
- Jennison Associates's biggest Q4 2023 reduction was NVIDIA, cutting an estimated $2.12B.
- Jennison Associates fully exited Ulta Beauty in Q4 2023, selling an estimated $452M.
- Jennison Associates's ten largest holdings make up 40% of its $134B portfolio in Q4 2023.
- Jennison Associates opened 77 new positions and closed 55 in Q4 2023.
- Jennison Associates's portfolio value rose 14% quarter-over-quarter to $134B.
Based on Jennison Associates's 13F filing for Q4 2023, filed 1 Feb 2024.