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 | |
|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.25T
| $9.69B | 6.79% |
89,367,948
-7,884,124
| -8% | -$999M |
|
2
Amazon
AMZN
$2.87T
| $9.21B | 6.46% |
48,409,201
-4,425,406
| -8% | -$960M |
|
3
Apple
AAPL
$4.67T
| $8.13B | 5.7% |
36,585,441
-2,899,281
| -7% | -$672M |
|
4
Meta Platforms (Facebook)
META
$1.47T
| $7.59B | 5.32% |
13,166,153
-1,081,493
| -8% | -$698M |
|
|
5
Microsoft
MSFT
$3.81T
| $7.57B | 5.31% |
20,167,966
-2,630,110
| -12% | -$1.07B |
|
6
Netflix
NFLX
$340B
| $6.09B | 4.27% |
65,303,460
-860,100
| -1% | -$81.8M |
|
7
Broadcom
AVGO
$1.75T
| $4.48B | 3.14% |
26,760,207
-4,489,333
| -14% | -$950M |
|
8
Eli Lilly
LLY
$1.05T
| $4.31B | 3.02% |
5,221,016
+424,693
| +9% | +$353M |
|
9
Mastercard
MA
$521B
| $3.33B | 2.33% |
6,068,418
-289,255
| -5% | -$157M |
|
10
Costco
COST
$419B
| $3.18B | 2.23% |
3,357,630
+125,441
| +4% | +$122M |
|
11
Visa
V
$712B
| $2.59B | 1.81% |
7,383,557
-339,694
| -4% | -$115M |
|
12
Alphabet (Google) Class A
GOOGL
$4.24T
| $2.55B | 1.79% |
16,469,948
+240,451
| +1% | +$43.6M |
|
13
Vertex Pharmaceuticals
VRTX
$137B
| $2.45B | 1.72% |
5,062,442
+744,680
| +17% | +$347M |
|
|
14
Spotify
SPOT
$113B
| $2.34B | 1.64% |
4,247,940
+1,262,614
| +42% | +$706M |
|
15
CrowdStrike
CRWD
$224B
| $2.31B | 1.62% |
26,261,100
+4,577,180
| +21% | +$436M |
|
16
Cadence Design Systems
CDNS
$93.7B
| $2.31B | 1.62% |
9,064,953
+1,054,702
| +13% | +$293M |
|
17
Tesla
TSLA
$1.38T
| $2.26B | 1.58% |
8,718,411
-994,502
| -10% | -$331M |
|
18
Mercado Libre
MELI
$99.7B
| $2.25B | 1.58% |
1,154,116
+18,731
| +2% | +$37.2M |
|
|
19
Alphabet (Google) Class C
GOOG
$4.19T
| $2.24B | 1.57% |
14,307,441
-764
| -0% | -$140K |
|
20
Walmart Inc
WMT
$820B
| $2.18B | 1.53% |
24,876,980
-462,468
| -2% | -$43.4M |
|
21
Walt Disney
DIS
$187B
| $1.87B | 1.31% |
18,902,149
-295,314
| -2% | -$31.7M |
|
22
Boeing
BA
$166B
| $1.77B | 1.24% |
10,386,014
+84,749
| +0.8% | +$14.7M |
|
23
Uber
UBER
$161B
| $1.75B | 1.23% |
24,037,678
-2,422,634
| -9% | -$175M |
|
24
ServiceNow
NOW
$150B
| $1.6B | 1.12% |
10,064,605
-1,695,950
| -14% | -$327M |
|
25
TSMC
TSM
$2.17T
| $1.58B | 1.11% |
9,509,032
+2,559,512
| +37% | +$497M |
|
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.