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 |
NVIDIA
NVDA
|
+$882M |
| 2 |
Netflix
NFLX
|
+$813M |
| 3 |
T-Mobile US
TMUS
|
+$722M |
| 4 |
Intuitive Surgical
ISRG
|
+$301M |
| 5 |
DexCom
DXCM
|
+$246M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tesla
TSLA
|
+$2.03B |
| 2 |
Salesforce
CRM
|
+$890M |
| 3 |
CrowdStrike
CRWD
|
+$654M |
| 4 |
Apple
AAPL
|
+$542M |
| 5 |
Atlassian
TEAM
|
+$353M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.75% |
| 2 | Healthcare | 20.44% |
| 3 | Consumer Discretionary | 17.04% |
| 4 | Financials | 10.94% |
| 5 | Communication Services | 8.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$5.02T
| $5.75B | 5.83% |
44,273,788
-3,795,617
| -8% | -$542M |
|
2
Microsoft
MSFT
$2.94T
| $5.49B | 5.56% |
22,883,844
-169,983
| -0.7% | -$40.8M |
|
3
Eli Lilly
LLY
$1.09T
| $3.82B | 3.87% |
10,429,081
+364,339
| +4% | +$129M |
|
4
Amazon
AMZN
$2.48T
| $3.71B | 3.76% |
44,117,680
-3,042,901
| -6% | -$301M |
|
|
5
NVIDIA
NVDA
$4.67T
| $3.4B | 3.45% |
232,992,910
+60,136,470
| +35% | +$882M |
|
6
Visa
V
$709B
| $2.75B | 2.79% |
13,237,484
-32,643
| -0.2% | -$6.58M |
|
7
Mastercard
MA
$502B
| $2.72B | 2.76% |
7,828,862
-45,231
| -0.6% | -$14.9M |
|
8
UnitedHealth
UNH
$385B
| $2.49B | 2.52% |
4,688,147
-64,451
| -1% | -$34.1M |
|
|
9
Tesla
TSLA
$1.2T
| $2.32B | 2.35% |
18,841,170
-10,716,437
| -36% | -$2.03B |
|
10
Alphabet (Google) Class A
GOOGL
$4.12T
| $2.23B | 2.26% |
25,291,805
-940,115
| -4% | -$89.3M |
|
|
11
Alphabet (Google) Class C
GOOG
$4.11T
| $2.11B | 2.14% |
23,806,964
+553,766
| +2% | +$52.8M |
|
12
Costco
COST
$432B
| $1.96B | 1.98% |
4,282,608
-63,278
| -1% | -$30.9M |
|
13
Mercado Libre
MELI
$94.6B
| $1.86B | 1.88% |
2,197,421
+1,707
| +0.1% | +$1.52M |
|
|
14
Netflix
NFLX
$303B
| $1.62B | 1.64% |
54,993,910
+28,982,630
| +111% | +$813M |
|
|
NVO
15
Novo Nordisk
NVO
$227B
| $1.55B | 1.57% |
22,909,564
+1,048,552
| +5% | +$61.5M |
|
16
Danaher
DHR
$140B
| $1.5B | 1.52% |
6,372,285
-1,402,819
| -18% | -$325M |
|
17
Vertex Pharmaceuticals
VRTX
$124B
| $1.48B | 1.5% |
5,115,540
+359,719
| +8% | +$110M |
|
18
Alcon
ALC
$33.9B
| $1.43B | 1.45% |
4,532,442
+1,448,533
| +47% | +$92.4M |
|
19
Adobe
ADBE
$104B
| $1.43B | 1.45% |
4,241,145
+13,442
| +0.3% | +$4.3M |
|
20
SLB Ltd
SLB
$73.2B
| $1.42B | 1.44% |
26,647,271
+1,507,106
| +6% | +$75M |
|
21
lululemon athletica
LULU
$13.5B
| $1.39B | 1.4% |
4,326,780
-560,742
| -11% | -$184M |
|
22
Broadcom
AVGO
$1.79T
| $1.29B | 1.3% |
22,998,400
+782,150
| +4% | +$39.2M |
|
23
Home Depot
HD
$341B
| $1.27B | 1.29% |
4,033,957
+2,193
| +0.1% | +$668K |
|
|
24
Intuitive Surgical
ISRG
$127B
| $1.18B | 1.19% |
4,434,343
+1,234,174
| +39% | +$301M |
|
25
Uber
UBER
$144B
| $1.16B | 1.18% |
47,000,981
-897,044
| -2% | -$24.5M |
|
Similar funds
Jennison Associates's Q4 2022 Portfolio in Review
As of Q4 2022, Jennison Associates held 646 positions worth $98.7B, down 1.9% from $101B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Jennison Associates withdrew a net $3.42B in Q4 2022, closing 75 positions and reducing 267 holdings. Its most notable exit was Target, an estimated $231M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 27% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in ICICI Bank worth $102M.
- Jennison Associates's largest Q4 2022 buy was ICICI Bank: 4,644,701 shares worth $102M.
- Jennison Associates added most to NVIDIA in Q4 2022, an estimated $882M increase.
- Jennison Associates's biggest Q4 2022 reduction was Tesla, cutting an estimated $2.03B.
- Jennison Associates fully exited Target in Q4 2022, selling an estimated $231M.
- Jennison Associates's ten largest holdings make up 35% of its $98.7B portfolio in Q4 2022.
- Jennison Associates opened 47 new positions and closed 75 in Q4 2022.
- Jennison Associates's portfolio value fell 1.9% quarter-over-quarter to $98.7B.
Based on Jennison Associates's 13F filing for Q4 2022, filed 9 Feb 2023.