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 |
Merck
MRK
|
+$891M |
| 2 |
Union Pacific
UNP
|
+$622M |
| 3 |
Salesforce
CRM
|
+$418M |
| 4 |
Edwards Lifesciences
EW
|
+$405M |
| 5 |
lululemon athletica
LULU
|
+$347M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Caterpillar
CAT
|
+$680M |
| 2 |
Texas Instruments
TXN
|
+$585M |
| 3 |
RHT
Red Hat Inc
RHT
|
+$571M |
| 4 |
Bristol-Myers Squibb
BMY
|
+$558M |
| 5 |
Parker-Hannifin
PH
|
+$556M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.29% |
| 2 | Healthcare | 17.78% |
| 3 | Consumer Discretionary | 17.1% |
| 4 | Financials | 12.69% |
| 5 | Communication Services | 11.35% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Amazon
AMZN
$2.87T
| $4.22B | 4.72% |
56,192,520
+2,893,320
| +5% | +$241M |
|
2
Microsoft
MSFT
$3.81T
| $3.53B | 3.95% |
34,729,452
-64,556
| -0.2% | -$6.92M |
|
3
Mastercard
MA
$521B
| $2.78B | 3.12% |
14,760,545
-263,143
| -2% | -$52.3M |
|
|
4
Salesforce
CRM
$211B
| $2.69B | 3.01% |
19,671,694
+3,041,293
| +18% | +$418M |
|
5
Netflix
NFLX
$340B
| $2.57B | 2.87% |
95,988,880
+7,923,380
| +9% | +$237M |
|
6
Boeing
BA
$166B
| $2.52B | 2.82% |
7,817,279
+245,100
| +3% | +$84.7M |
|
7
Visa
V
$712B
| $2.28B | 2.55% |
17,301,374
+271,382
| +2% | +$37.5M |
|
8
Apple
AAPL
$4.67T
| $2.24B | 2.51% |
56,867,576
-5,695,212
| -9% | -$276M |
|
9
Alibaba
BABA
$296B
| $2.13B | 2.38% |
15,519,580
-1,118,189
| -7% | -$165M |
|
10
Alphabet (Google) Class A
GOOGL
$4.24T
| $2.1B | 2.35% |
40,154,200
+1,697,300
| +4% | +$91.7M |
|
11
Adobe
ADBE
$116B
| $2.06B | 2.3% |
9,101,137
+249,440
| +3% | +$60.2M |
|
|
12
Alphabet (Google) Class C
GOOG
$4.19T
| $1.94B | 2.17% |
37,422,640
+1,526,900
| +4% | +$81.7M |
|
13
Meta Platforms (Facebook)
META
$1.47T
| $1.93B | 2.16% |
14,696,156
-693,371
| -5% | -$100M |
|
14
Tesla
TSLA
$1.38T
| $1.77B | 1.98% |
79,835,370
+7,576,140
| +10% | +$163M |
|
15
AstraZeneca
AZN
$252B
| $1.74B | 1.95% |
22,898,394
+3,026,242
| +15% | +$236M |
|
16
Illumina
ILMN
$32.6B
| $1.64B | 1.84% |
5,632,992
+671,642
| +14% | +$208M |
|
17
UnitedHealth
UNH
$353B
| $1.6B | 1.79% |
6,420,901
-159,797
| -2% | -$42.2M |
|
18
JPMorgan Chase
JPM
$951B
| $1.35B | 1.51% |
13,823,928
-996,983
| -7% | -$106M |
|
19
Nike
NKE
$58.7B
| $1.32B | 1.48% |
17,818,715
+1,723,608
| +11% | +$129M |
|
20
Costco
COST
$419B
| $1.31B | 1.47% |
6,452,240
+67,206
| +1% | +$15M |
|
21
Workday
WDAY
$50.6B
| $1.3B | 1.46% |
8,164,202
+462,730
| +6% | +$65.6M |
|
|
22
Merck
MRK
$366B
| $1.21B | 1.35% |
16,534,596
+12,626,730
| +323% | +$891M |
|
23
Vertex Pharmaceuticals
VRTX
$137B
| $1.15B | 1.29% |
6,941,621
+739,128
| +12% | +$128M |
|
24
Home Depot
HD
$329B
| $1.08B | 1.21% |
6,280,864
-456,794
| -7% | -$81.9M |
|
25
Marriott International
MAR
$91.5B
| $1.03B | 1.15% |
9,468,297
-1,405,419
| -13% | -$161M |
|
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Jennison Associates's Q4 2018 Portfolio in Review
As of Q4 2018, Jennison Associates held 753 positions worth $89.4B, down 18% from $109B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Jennison Associates's Q4 2018 filing shows 95 new, 255 increased, 283 reduced and 113 closed positions. Its largest new stake was lululemon athletica: 2,588,881 shares worth $315M. The largest sale was Caterpillar, an estimated $680M.
By sector, the portfolio is most concentrated in Technology at 21% of assets, down from 22% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Jennison Associates's largest Q4 2018 buy was lululemon athletica: 2,588,881 shares worth $315M.
- Jennison Associates added most to Merck in Q4 2018, an estimated $891M increase.
- Jennison Associates's biggest Q4 2018 reduction was Caterpillar, cutting an estimated $680M.
- Jennison Associates fully exited Tiffany & Co. in Q4 2018, selling an estimated $151M.
- Jennison Associates's ten largest holdings make up 30% of its $89.4B portfolio in Q4 2018.
- Jennison Associates opened 95 new positions and closed 113 in Q4 2018.
- Jennison Associates's portfolio value fell 18% quarter-over-quarter to $89.4B.
Based on Jennison Associates's 13F filing for Q4 2018, filed 6 Feb 2019.