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 |
Microsoft
MSFT
|
+$864M |
| 2 |
Shopify
SHOP
|
+$624M |
| 3 |
Vertex Pharmaceuticals
VRTX
|
+$502M |
| 4 |
TSMC
TSM
|
+$470M |
| 5 |
Constellation Energy
CEG
|
+$451M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$1.03B |
| 2 |
Apple
AAPL
|
+$843M |
| 3 |
Broadcom
AVGO
|
+$764M |
| 4 |
Amazon
AMZN
|
+$530M |
| 5 |
Uber
UBER
|
+$520M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 35.95% |
| 2 | Communication Services | 17.48% |
| 3 | Consumer Discretionary | 14.75% |
| 4 | Healthcare | 9.68% |
| 5 | Financials | 7.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
NVIDIA
NVDA
$5.25T
| $14.4B | 8.52% |
90,962,458
+1,594,510
| +2% | +$201M |
|
|
2
Microsoft
MSFT
$3.81T
| $11B | 6.54% |
22,158,469
+1,990,503
| +10% | +$864M |
|
|
3
Amazon
AMZN
$2.87T
| $10B | 5.95% |
45,731,623
-2,677,578
| -6% | -$530M |
|
4
Meta Platforms (Facebook)
META
$1.47T
| $9.19B | 5.45% |
12,444,957
-721,196
| -5% | -$446M |
|
|
5
Netflix
NFLX
$340B
| $7.52B | 4.46% |
56,171,760
-9,131,700
| -14% | -$1.03B |
|
|
6
Apple
AAPL
$4.67T
| $6.65B | 3.94% |
32,412,407
-4,173,034
| -11% | -$843M |
|
|
7
Broadcom
AVGO
$1.75T
| $6.41B | 3.8% |
23,240,649
-3,519,558
| -13% | -$764M |
|
8
Eli Lilly
LLY
$1.05T
| $4.25B | 2.52% |
5,447,636
+226,620
| +4% | +$176M |
|
9
Mastercard
MA
$521B
| $3.4B | 2.02% |
6,051,004
-17,414
| -0.3% | -$9.63M |
|
10
Mercado Libre
MELI
$99.7B
| $3.23B | 1.91% |
1,235,240
+81,124
| +7% | +$189M |
|
11
Costco
COST
$419B
| $3.14B | 1.86% |
3,169,194
-188,436
| -6% | -$187M |
|
12
CrowdStrike
CRWD
$224B
| $3.11B | 1.85% |
24,452,400
-1,808,700
| -7% | -$196M |
|
13
Spotify
SPOT
$113B
| $3B | 1.78% |
3,910,788
-337,152
| -8% | -$216M |
|
14
Cadence Design Systems
CDNS
$93.7B
| $2.88B | 1.71% |
9,338,102
+273,149
| +3% | +$79.4M |
|
|
15
Vertex Pharmaceuticals
VRTX
$137B
| $2.74B | 1.62% |
6,151,505
+1,089,063
| +22% | +$502M |
|
|
16
TSMC
TSM
$2.17T
| $2.73B | 1.62% |
12,046,792
+2,537,760
| +27% | +$470M |
|
17
Boeing
BA
$166B
| $2.64B | 1.57% |
12,615,602
+2,229,588
| +21% | +$421M |
|
18
Visa
V
$712B
| $2.62B | 1.55% |
7,368,920
-14,637
| -0.2% | -$5.1M |
|
19
Alphabet (Google) Class A
GOOGL
$4.24T
| $2.61B | 1.55% |
14,818,272
-1,651,676
| -10% | -$270M |
|
20
Walt Disney
DIS
$187B
| $2.56B | 1.52% |
20,676,921
+1,774,772
| +9% | +$184M |
|
21
Tesla
TSLA
$1.38T
| $2.51B | 1.49% |
7,888,116
-830,295
| -10% | -$250M |
|
22
ServiceNow
NOW
$150B
| $2.44B | 1.45% |
11,883,570
+1,818,965
| +18% | +$343M |
|
23
Walmart Inc
WMT
$820B
| $2.39B | 1.42% |
24,450,071
-426,909
| -2% | -$40.7M |
|
|
24
Alphabet (Google) Class C
GOOG
$4.19T
| $2.2B | 1.3% |
12,384,379
-1,923,062
| -13% | -$318M |
|
|
25
Constellation Energy
CEG
$98.1B
| $1.92B | 1.14% |
5,956,566
+1,703,127
| +40% | +$451M |
|
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Jennison Associates's Q2 2025 Portfolio in Review
As of Q2 2025, Jennison Associates held 642 positions worth $169B, up 18% from $143B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Jennison Associates's Q2 2025 filing shows 75 new, 257 increased, 235 reduced and 68 closed positions. Its largest new stake was Thermo Fisher Scientific: 165,992 shares worth $67.3M. The largest sale was Netflix, an estimated $1.03B.
By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 33% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Jennison Associates's largest Q2 2025 buy was Thermo Fisher Scientific: 165,992 shares worth $67.3M.
- Jennison Associates added most to Microsoft in Q2 2025, an estimated $864M increase.
- Jennison Associates's biggest Q2 2025 reduction was Netflix, cutting an estimated $1.03B.
- Jennison Associates fully exited Vertiv in Q2 2025, selling an estimated $308M.
- Jennison Associates's ten largest holdings make up 45% of its $169B portfolio in Q2 2025.
- Jennison Associates opened 75 new positions and closed 68 in Q2 2025.
- Jennison Associates's portfolio value rose 18% quarter-over-quarter to $169B.
Based on Jennison Associates's 13F filing for Q2 2025, filed 1 Aug 2025.