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 |
Microsoft
MSFT
|
+$864M |
| 2 |
Shopify
SHOP
|
+$624M |
| 3 |
Vertex Pharmaceuticals
VRTX
|
+$502M |
| 4 |
TSMC
TSM
|
+$470M |
| 5 |
Constellation Energy
CEG
|
+$451M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$1.03B |
| 2 |
Apple
AAPL
|
+$843M |
| 3 |
Broadcom
AVGO
|
+$764M |
| 4 |
Amazon
AMZN
|
+$530M |
| 5 |
Uber
UBER
|
+$520M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 35.95% |
| 2 | Communication Services | 17.48% |
| 3 | Consumer Discretionary | 14.75% |
| 4 | Healthcare | 9.68% |
| 5 | Financials | 7.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
AT&T
T
$178B
| $110M | 0.07% |
3,790,340
+247,754
| +7% | +$6.83M |
|
127
Xcel Energy
XEL
$47.8B
| $108M | 0.06% |
1,587,218
-21,710
| -1% | -$1.51M |
|
128
Cousins Properties
CUZ
$4.85B
| $106M | 0.06% |
3,535,111
+1,200,952
| +51% | +$33.9M |
|
129
GE Vernova
GEV
$243B
| $102M | 0.06% |
192,499
+154,239
| +403% | +$64.2M |
|
130
Burlington
BURL
$17.1B
| $102M | 0.06% |
437,783
-83,930
| -16% | -$19.9M |
|
131
VSE Corp
VSEC
$6.06B
| $101M | 0.06% |
770,641
-68,626
| -8% | -$8.55M |
|
132
Trinity Industries
TRN
$2.33B
| $101M | 0.06% |
3,731,145
+69,751
| +2% | +$1.8M |
|
133
Tarsus Pharmaceuticals
TARS
$3.15B
| $100M | 0.06% |
2,467,998
-24,642
| -1% | -$1.11M |
|
134
Encompass Health
EHC
$11.9B
| $97.3M | 0.06% |
793,237
+2,128
| +0.3% | +$243K |
|
135
Churchill Downs
CHDN
$6.27B
| $96.7M | 0.06% |
956,941
-73,905
| -7% | -$7.23M |
|
136
Linde
LIN
$226B
| $96.2M | 0.06% |
204,960
+32,416
| +19% | +$14.8M |
|
137
American Electric Power
AEP
$66.6B
| $95.7M | 0.06% |
922,578
-270,429
| -23% | -$28.1M |
|
138
Bank of America
BAC
$436B
| $94.4M | 0.06% |
1,994,864
-1,215,380
| -38% | -$51.1M |
|
139
Oracle
ORCL
$435B
| $93.3M | 0.06% |
426,706
-43,812
| -9% | -$7.07M |
|
140
Caterpillar
CAT
$368B
| $93.2M | 0.06% |
240,054
-16,077
| -6% | -$5.36M |
|
141
Ero Copper
ERO
$4.05B
| $92.7M | 0.05% |
5,487,290
+259,830
| +5% | +$3.51M |
|
142
Dorman Products
DORM
$3.84B
| $91.3M | 0.05% |
744,400
+145,758
| +24% | +$17.7M |
|
143
ACV Auctions
ACVA
$1.22B
| $90.4M | 0.05% |
5,571,294
+143,773
| +3% | +$2.24M |
|
144
Core & Main
CNM
$8.05B
| $88.9M | 0.05% |
1,472,571
+339,431
| +30% | +$18.2M |
|
145
Tower Semiconductor
TSEM
$23.5B
| $85.1M | 0.05% |
1,962,231
-584,126
| -23% | -$22.4M |
|
146
NRG Energy
NRG
$23.4B
| $85M | 0.05% |
529,556
+246,741
| +87% | +$32.5M |
|
147
Houlihan Lokey
HLI
$9.3B
| $84.5M | 0.05% |
469,653
+125,049
| +36% | +$21M |
|
148
Intapp
INTA
$3.33B
| $84.2M | 0.05% |
1,631,528
+81,518
| +5% | +$4.45M |
|
149
MACOM Technology Solutions
MTSI
$20.3B
| $84.2M | 0.05% |
587,738
-42,668
| -7% | -$4.99M |
|
150
Shake Shack
SHAK
$2.82B
| $83.5M | 0.05% |
593,971
+215,984
| +57% | +$23.5M |
|
Similar funds
Jennison Associates's Q2 2025 Portfolio in Review
As of Q2 2025, Jennison Associates held 642 positions worth $169B, up 18% from $143B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Jennison Associates's Q2 2025 filing shows 75 new, 257 increased, 235 reduced and 68 closed positions. Its largest new stake was Thermo Fisher Scientific: 165,992 shares worth $67.3M. The largest sale was Netflix, an estimated $1.03B.
By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 33% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Jennison Associates's largest Q2 2025 buy was Thermo Fisher Scientific: 165,992 shares worth $67.3M.
- Jennison Associates added most to Microsoft in Q2 2025, an estimated $864M increase.
- Jennison Associates's biggest Q2 2025 reduction was Netflix, cutting an estimated $1.03B.
- Jennison Associates fully exited Vertiv in Q2 2025, selling an estimated $308M.
- Jennison Associates's ten largest holdings make up 45% of its $169B portfolio in Q2 2025.
- Jennison Associates opened 75 new positions and closed 68 in Q2 2025.
- Jennison Associates's portfolio value rose 18% quarter-over-quarter to $169B.
Based on Jennison Associates's 13F filing for Q2 2025, filed 1 Aug 2025.