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 |
Boeing
BA
|
+$788M |
| 2 |
Netflix
NFLX
|
+$687M |
| 3 |
UnitedHealth
UNH
|
+$638M |
| 4 |
Trade Desk
TTD
|
+$513M |
| 5 |
Home Depot
HD
|
+$374M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$2.12B |
| 2 |
Tesla
TSLA
|
+$717M |
| 3 |
Uber
UBER
|
+$656M |
| 4 |
argenx
ARGX
|
+$579M |
| 5 |
Eli Lilly
LLY
|
+$473M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 38.7% |
| 2 | Consumer Discretionary | 19.7% |
| 3 | Healthcare | 12.48% |
| 4 | Communication Services | 10.26% |
| 5 | Financials | 7.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Microsoft
MSFT
$3.81T
| $9.59B | 7.15% |
25,505,600
+277,881
| +1% | +$98.9M |
|
2
Amazon
AMZN
$2.87T
| $8.57B | 6.38% |
56,371,051
+1,389,503
| +3% | +$195M |
|
|
3
NVIDIA
NVDA
$5.25T
| $7.09B | 5.29% |
143,249,250
-45,784,660
| -24% | -$2.12B |
|
4
Apple
AAPL
$4.67T
| $5.59B | 4.17% |
29,029,498
-712,603
| -2% | -$132M |
|
|
5
Eli Lilly
LLY
$1.05T
| $4.43B | 3.3% |
7,597,612
-810,001
| -10% | -$473M |
|
6
Advanced Micro Devices
AMD
$760B
| $3.96B | 2.95% |
26,886,280
+1,490,997
| +6% | +$176M |
|
7
Meta Platforms (Facebook)
META
$1.47T
| $3.94B | 2.93% |
11,118,778
-444,817
| -4% | -$145M |
|
|
8
Tesla
TSLA
$1.38T
| $3.88B | 2.89% |
15,631,235
-3,015,358
| -16% | -$717M |
|
9
Mercado Libre
MELI
$99.7B
| $3.35B | 2.5% |
2,131,538
-101,892
| -5% | -$144M |
|
10
Mastercard
MA
$521B
| $3.27B | 2.44% |
7,668,138
-298,210
| -4% | -$120M |
|
11
Alphabet (Google) Class A
GOOGL
$4.24T
| $3.27B | 2.44% |
23,405,422
-739,995
| -3% | -$99.4M |
|
12
Broadcom
AVGO
$1.75T
| $3.21B | 2.39% |
28,770,680
+3,759,440
| +15% | +$356M |
|
13
Visa
V
$712B
| $3.08B | 2.29% |
11,824,113
+85,123
| +0.7% | +$21M |
|
|
14
Netflix
NFLX
$340B
| $2.65B | 1.98% |
54,522,710
+15,739,780
| +41% | +$687M |
|
|
15
Alphabet (Google) Class C
GOOG
$4.19T
| $2.62B | 1.95% |
18,569,413
-1,252,790
| -6% | -$170M |
|
16
Adobe
ADBE
$116B
| $2.57B | 1.91% |
4,302,355
-259,504
| -6% | -$150M |
|
|
NVO
17
Novo Nordisk
NVO
$202B
| $2.33B | 1.74% |
22,527,772
-891,633
| -4% | -$88.2M |
|
18
Salesforce
CRM
$211B
| $2.27B | 1.69% |
8,609,732
-229,952
| -3% | -$52M |
|
19
Costco
COST
$419B
| $2.22B | 1.65% |
3,359,739
-215,106
| -6% | -$127M |
|
20
lululemon athletica
LULU
$13.7B
| $2.01B | 1.5% |
3,935,596
-837,482
| -18% | -$362M |
|
|
21
UnitedHealth
UNH
$353B
| $1.9B | 1.42% |
3,617,813
+1,195,352
| +49% | +$638M |
|
|
22
Uber
UBER
$161B
| $1.87B | 1.39% |
30,375,613
-12,542,320
| -29% | -$656M |
|
23
Cadence Design Systems
CDNS
$93.7B
| $1.8B | 1.34% |
6,625,923
-421,308
| -6% | -$109M |
|
24
ServiceNow
NOW
$150B
| $1.78B | 1.33% |
12,605,950
+268,595
| +2% | +$33.9M |
|
25
CrowdStrike
CRWD
$224B
| $1.62B | 1.21% |
25,363,276
+6,327,184
| +33% | +$331M |
|
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Jennison Associates's Q4 2023 Portfolio in Review
As of Q4 2023, Jennison Associates held 638 positions worth $134B, up 14% from $118B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Jennison Associates's Q4 2023 filing shows 77 new, 236 increased, 267 reduced and 55 closed positions. Its largest new stake was Boeing: 3,684,483 shares worth $960M. The largest sale was NVIDIA, an estimated $2.12B.
By sector, the portfolio is most concentrated in Technology at 39% of assets, up from 37% a quarter earlier, followed by Consumer Discretionary and Healthcare.
- Jennison Associates's largest Q4 2023 buy was Boeing: 3,684,483 shares worth $960M.
- Jennison Associates added most to Netflix in Q4 2023, an estimated $687M increase.
- Jennison Associates's biggest Q4 2023 reduction was NVIDIA, cutting an estimated $2.12B.
- Jennison Associates fully exited Ulta Beauty in Q4 2023, selling an estimated $452M.
- Jennison Associates's ten largest holdings make up 40% of its $134B portfolio in Q4 2023.
- Jennison Associates opened 77 new positions and closed 55 in Q4 2023.
- Jennison Associates's portfolio value rose 14% quarter-over-quarter to $134B.
Based on Jennison Associates's 13F filing for Q4 2023, filed 1 Feb 2024.