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 | |
|---|---|---|---|---|---|---|
|
VRNA
151
DELISTED
Verona Pharma
VRNA
| $80.1M | 0.06% |
1,261,153
-628,389
| -33% | -$37.6M |
|
|
LADR
152
Ladder Capital
LADR
$1.23B
| $79.4M | 0.06% |
6,955,381
+190,867
| +3% | +$2.18M |
|
|
MRSH
153
Marsh
MRSH
$92B
| $78.9M | 0.06% |
323,341
-240,364
| -43% | -$54.5M |
|
154
ACV Auctions
ACVA
$1.36B
| $76.5M | 0.05% |
5,427,521
+447,167
| +9% | +$8.24M |
|
155
DTE Energy
DTE
$29.5B
| $75.2M | 0.05% |
544,053
-7,252
| -1% | -$925K |
|
156
Ryan Specialty Holdings
RYAN
$5.65B
| $72.9M | 0.05% |
987,152
-5,865
| -0.6% | -$399K |
|
157
Danaher
DHR
$139B
| $72.7M | 0.05% |
+354,555
| New | +$77.4M |
|
158
Korn Ferry
KFY
$4.21B
| $72.4M | 0.05% |
1,066,912
-901
| -0.1% | -$60.8K |
|
159
Dorman Products
DORM
$3.82B
| $72.2M | 0.05% |
598,642
+145,391
| +32% | +$18.5M |
|
160
Idacorp
IDA
$8.32B
| $71.4M | 0.05% |
+614,667
| New | +$68.9M |
|
161
Crinetics Pharmaceuticals
CRNX
$8.89B
| $71.1M | 0.05% |
2,119,767
-588,584
| -22% | -$22M |
|
162
Huron Consulting
HURN
$2.39B
| $71.1M | 0.05% |
495,328
-106,007
| -18% | -$14.3M |
|
163
HubSpot
HUBS
$12.3B
| $70M | 0.05% |
122,519
+11,174
| +10% | +$7.84M |
|
164
Gulfport Energy Corp
GPOR
$2.94B
| $69.7M | 0.05% |
378,663
+354,033
| +1,437% | +$64.3M |
|
165
Cousins Properties
CUZ
$5.17B
| $68.9M | 0.05% |
2,334,159
+132,653
| +6% | +$3.97M |
|
166
Atmos Energy
ATO
$28.9B
| $68.7M | 0.05% |
444,464
+215,157
| +94% | +$31.4M |
|
167
TechnipFMC
FTI
$27.1B
| $68.4M | 0.05% |
2,158,169
-172,335
| -7% | -$5.17M |
|
168
Pinnacle Financial Partners Inc
PNFP
$16.2B
| $68.2M | 0.05% |
643,582
-2,956
| -0.5% | -$339K |
|
169
Toll Brothers
TOL
$14.1B
| $67.8M | 0.05% |
642,000
-584,271
| -48% | -$70.1M |
|
170
Heritage Financial
HFWA
$1.23B
| $67M | 0.05% |
2,752,114
+545,348
| +25% | +$13.3M |
|
171
Chesapeake Utilities
CPK
$3.21B
| $66.6M | 0.05% |
518,231
+23,053
| +5% | +$2.86M |
|
172
Toast
TOST
$19B
| $66.2M | 0.05% |
1,995,642
+1,643,594
| +467% | +$61.5M |
|
173
Camden Property Trust
CPT
$11B
| $66.2M | 0.05% |
541,096
+79,592
| +17% | +$9.36M |
|
174
GFL Environmental
GFL
$15.2B
| $66.1M | 0.05% |
1,368,779
-175,911
| -11% | -$7.97M |
|
175
Oracle
ORCL
$409B
| $65.8M | 0.05% |
470,518
-740,227
| -61% | -$121M |
|
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.