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 | |
|---|---|---|---|---|---|---|
|
MRX
201
Marex Group Limited Ordinary Shares
MRX
$4.64B
| $55.3M | 0.04% |
1,565,203
-498,560
| -24% | -$17.4M |
|
202
Lifestance Health
LFST
$3.92B
| $55M | 0.04% |
8,255,236
+168,856
| +2% | +$1.28M |
|
203
Ametek
AME
$56.1B
| $54.9M | 0.04% |
318,785
-30,667
| -9% | -$5.57M |
|
204
Core & Main
CNM
$8.61B
| $54.7M | 0.04% |
+1,133,140
| New | +$58.7M |
|
205
RenaissanceRe
RNR
$13.3B
| $54.7M | 0.04% |
227,768
-131,911
| -37% | -$31.9M |
|
206
Domino's
DPZ
$12.2B
| $54.4M | 0.04% |
118,418
-20,713
| -15% | -$9.37M |
|
|
APLS
207
DELISTED
Apellis Pharmaceuticals
APLS
| $54.2M | 0.04% |
2,477,531
-282,873
| -10% | -$7.81M |
|
208
Amgen
AMGN
$206B
| $54.1M | 0.04% |
173,738
-17,682
| -9% | -$5.22M |
|
|
DOCU
209
DocuSign
DOCU
$10.8B
| $54M | 0.04% |
662,817
+519,423
| +362% | +$45.5M |
|
210
Renasant Corp
RNST
$4.04B
| $53.2M | 0.04% |
1,567,120
+393,319
| +34% | +$14.2M |
|
211
Essent Group
ESNT
$6.17B
| $52.7M | 0.04% |
913,081
-71,333
| -7% | -$4.04M |
|
212
Trip.com Group
TCOM
$29.4B
| $52.7M | 0.04% |
828,765
+3,875
| +0.5% | +$254K |
|
213
Take-Two Interactive
TTWO
$45.6B
| $52M | 0.04% |
250,977
+517
| +0.2% | +$103K |
|
214
Blackstone
BX
$109B
| $51.9M | 0.04% |
371,612
-601,736
| -62% | -$97.7M |
|
215
Agilent Technologies
A
$38.8B
| $51.4M | 0.04% |
439,112
+65,731
| +18% | +$8.86M |
|
216
Johnson Controls International
JCI
$89.9B
| $51.2M | 0.04% |
639,118
-124,253
| -16% | -$10.2M |
|
217
Global E Online
GLBE
$6.94B
| $50.6M | 0.04% |
1,418,526
+1,414,360
| +33,950% | +$69.4M |
|
|
PR
218
Permian Resources
PR
$17.2B
| $50M | 0.04% |
3,607,144
-5,552,108
| -61% | -$79.5M |
|
219
Hayward Holdings
HAYW
$3.33B
| $49.8M | 0.03% |
3,575,410
+194,543
| +6% | +$2.83M |
|
220
Enbridge
ENB
$116B
| $49.4M | 0.03% |
1,115,434
+116,076
| +12% | +$5.05M |
|
221
Sprout Social
SPT
$525M
| $48.4M | 0.03% |
2,200,443
+28,876
| +1% | +$839K |
|
222
Boot Barn
BOOT
$4.92B
| $47.9M | 0.03% |
445,449
+104,899
| +31% | +$14M |
|
223
Apollo Global Management
APO
$73.6B
| $47.5M | 0.03% |
346,586
-393,352
| -53% | -$60.5M |
|
224
Adecoagro
AGRO
$1.35B
| $47.4M | 0.03% |
4,246,838
-887,008
| -17% | -$9.1M |
|
225
Rush Enterprises Class A
RUSHA
$6.34B
| $47.2M | 0.03% |
882,911
+373,531
| +73% | +$21.4M |
|
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.