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 |
COUP
Coupa Software Incorporated
COUP
|
+$628M |
| 2 |
Boston Scientific
BSX
|
+$399M |
| 3 |
Eli Lilly
LLY
|
+$366M |
| 4 |
Apple
AAPL
|
+$304M |
| 5 |
Shopify
SHOP
|
+$294M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boeing
BA
|
+$741M |
| 2 |
Meta Platforms (Facebook)
META
|
+$537M |
| 3 |
Vertex Pharmaceuticals
VRTX
|
+$487M |
| 4 |
American Tower
AMT
|
+$449M |
| 5 |
Workday
WDAY
|
+$353M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.73% |
| 2 | Consumer Discretionary | 17.94% |
| 3 | Healthcare | 14.45% |
| 4 | Communication Services | 12.28% |
| 5 | Financials | 11.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Amazon
AMZN
$2.87T
| $4.82B | 4.87% |
52,211,720
-2,458,760
| -4% | -$218M |
|
2
Microsoft
MSFT
$3.81T
| $4.62B | 4.66% |
29,295,460
+965,260
| +3% | +$142M |
|
|
3
Apple
AAPL
$4.67T
| $4.12B | 4.16% |
56,159,976
+4,732,364
| +9% | +$304M |
|
4
Mastercard
MA
$521B
| $3.71B | 3.74% |
12,418,591
-970,135
| -7% | -$274M |
|
5
Alibaba
BABA
$296B
| $3.22B | 3.25% |
15,171,252
+1,129,952
| +8% | +$212M |
|
6
Salesforce
CRM
$211B
| $3.14B | 3.17% |
19,306,653
-1,705,909
| -8% | -$267M |
|
7
Visa
V
$712B
| $2.67B | 2.7% |
14,231,352
-1,320,432
| -8% | -$238M |
|
|
8
Meta Platforms (Facebook)
META
$1.47T
| $2.64B | 2.67% |
12,876,728
-2,770,744
| -18% | -$537M |
|
9
Alphabet (Google) Class A
GOOGL
$4.24T
| $2.53B | 2.56% |
37,836,720
+1,229,900
| +3% | +$79.3M |
|
10
Netflix
NFLX
$340B
| $2.52B | 2.54% |
77,763,290
-5,458,390
| -7% | -$162M |
|
11
Adobe
ADBE
$116B
| $2.44B | 2.46% |
7,387,666
+36
| +0% | +$10.6K |
|
|
12
Alphabet (Google) Class C
GOOG
$4.19T
| $2.4B | 2.42% |
35,870,920
+439,640
| +1% | +$28.4M |
|
13
Nike
NKE
$58.7B
| $2.34B | 2.36% |
23,134,257
-80,929
| -0.3% | -$7.63M |
|
14
NVIDIA
NVDA
$5.25T
| $1.94B | 1.96% |
330,065,240
-22,092,680
| -6% | -$115M |
|
15
lululemon athletica
LULU
$13.7B
| $1.87B | 1.88% |
8,054,844
-1,185,481
| -13% | -$253M |
|
16
AstraZeneca
AZN
$252B
| $1.83B | 1.84% |
18,326,979
+334,636
| +2% | +$31.5M |
|
17
Tesla
TSLA
$1.38T
| $1.64B | 1.65% |
58,678,290
-1,955,340
| -3% | -$42.4M |
|
18
Intuitive Surgical
ISRG
$132B
| $1.49B | 1.51% |
7,583,841
+39,942
| +0.5% | +$7.48M |
|
19
Costco
COST
$419B
| $1.49B | 1.5% |
5,070,461
-594,891
| -11% | -$177M |
|
|
20
Boeing
BA
$166B
| $1.4B | 1.41% |
4,297,204
-2,094,207
| -33% | -$741M |
|
21
Illumina
ILMN
$32.6B
| $1.33B | 1.35% |
4,136,390
-835,947
| -17% | -$253M |
|
|
22
Shopify
SHOP
$197B
| $1.28B | 1.29% |
32,107,620
+8,700,460
| +37% | +$294M |
|
23
Corpay
CPAY
$26.8B
| $1.26B | 1.27% |
4,386,261
+431,872
| +11% | +$127M |
|
24
Estee Lauder
EL
$37.4B
| $1.25B | 1.26% |
6,056,701
-915,974
| -13% | -$178M |
|
25
Walt Disney
DIS
$187B
| $1.22B | 1.23% |
8,462,752
-241,795
| -3% | -$33.7M |
|
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Jennison Associates's Q4 2019 Portfolio in Review
As of Q4 2019, Jennison Associates held 706 positions worth $99.1B, up 4.7% from $94.7B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Jennison Associates withdrew a net $6.19B in Q4 2019, closing 88 positions and reducing 342 holdings. Its most notable exit was Hexcel, an estimated $85.1M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Jennison Associates opened a new position in RingCentral worth $117M.
- Jennison Associates's largest Q4 2019 buy was RingCentral: 694,616 shares worth $117M.
- Jennison Associates added most to Coupa Software Incorporated in Q4 2019, an estimated $628M increase.
- Jennison Associates's biggest Q4 2019 reduction was Boeing, cutting an estimated $741M.
- Jennison Associates fully exited Hexcel in Q4 2019, selling an estimated $85.1M.
- Jennison Associates's ten largest holdings make up 34% of its $99.1B portfolio in Q4 2019.
- Jennison Associates opened 70 new positions and closed 88 in Q4 2019.
- Jennison Associates's portfolio value rose 4.7% quarter-over-quarter to $99.1B.
Based on Jennison Associates's 13F filing for Q4 2019, filed 7 Feb 2020.