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 |
Oracle
ORCL
|
+$2.24B |
| 2 |
Apple
AAPL
|
+$1.14B |
| 3 |
Tesla
TSLA
|
+$1.05B |
| 4 |
Shopify
SHOP
|
+$1B |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$901M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vertex Pharmaceuticals
VRTX
|
+$1.13B |
| 2 |
Netflix
NFLX
|
+$1.1B |
| 3 |
NVO
Novo Nordisk
NVO
|
+$1.03B |
| 4 |
Eli Lilly
LLY
|
+$931M |
| 5 |
Trade Desk
TTD
|
+$899M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.77% |
| 2 | Communication Services | 17.54% |
| 3 | Consumer Discretionary | 14.14% |
| 4 | Healthcare | 7% |
| 5 | Financials | 6.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
NVIDIA
NVDA
$5.25T
| $16.5B | 9.58% |
88,210,227
-2,752,231
| -3% | -$480M |
|
2
Microsoft
MSFT
$3.81T
| $11.1B | 6.47% |
21,468,902
-689,567
| -3% | -$352M |
|
3
Amazon
AMZN
$2.87T
| $9.72B | 5.66% |
44,267,097
-1,464,526
| -3% | -$331M |
|
|
4
Apple
AAPL
$4.67T
| $9.54B | 5.55% |
37,458,386
+5,045,979
| +16% | +$1.14B |
|
5
Meta Platforms (Facebook)
META
$1.47T
| $8.59B | 5% |
11,701,736
-743,221
| -6% | -$553M |
|
6
Broadcom
AVGO
$1.75T
| $7.35B | 4.28% |
22,267,616
-973,033
| -4% | -$299M |
|
|
7
Netflix
NFLX
$340B
| $5.65B | 3.29% |
47,130,510
-9,041,250
| -16% | -$1.1B |
|
|
8
Tesla
TSLA
$1.38T
| $4.85B | 2.82% |
10,909,666
+3,021,550
| +38% | +$1.05B |
|
|
9
Alphabet (Google) Class A
GOOGL
$4.24T
| $4.65B | 2.71% |
19,121,915
+4,303,643
| +29% | +$901M |
|
10
TSMC
TSM
$2.17T
| $3.52B | 2.05% |
12,591,542
+544,750
| +5% | +$133M |
|
|
11
Alphabet (Google) Class C
GOOG
$4.19T
| $3.45B | 2.01% |
14,170,542
+1,786,163
| +14% | +$375M |
|
|
12
Eli Lilly
LLY
$1.05T
| $3.2B | 1.86% |
4,196,472
-1,251,164
| -23% | -$931M |
|
13
Cadence Design Systems
CDNS
$93.7B
| $3.07B | 1.79% |
8,731,648
-606,454
| -6% | -$209M |
|
14
Mastercard
MA
$521B
| $3B | 1.74% |
5,267,730
-783,274
| -13% | -$450M |
|
|
15
Shopify
SHOP
$197B
| $2.81B | 1.64% |
18,923,431
+7,403,821
| +64% | +$1B |
|
16
CrowdStrike
CRWD
$224B
| $2.8B | 1.63% |
22,821,648
-1,630,752
| -7% | -$185M |
|
17
Applovin
APP
$106B
| $2.79B | 1.63% |
3,886,150
+1,381,970
| +55% | +$637M |
|
18
Costco
COST
$419B
| $2.61B | 1.52% |
2,824,116
-345,078
| -11% | -$331M |
|
|
19
Oracle
ORCL
$435B
| $2.6B | 1.51% |
9,227,252
+8,800,546
| +2,062% | +$2.24B |
|
20
Visa
V
$712B
| $2.56B | 1.49% |
7,502,839
+133,919
| +2% | +$46.3M |
|
21
Mercado Libre
MELI
$99.7B
| $2.54B | 1.48% |
1,086,283
-148,957
| -12% | -$358M |
|
22
GE Aerospace
GE
$355B
| $2.54B | 1.48% |
8,430,878
+1,494,541
| +22% | +$409M |
|
23
Boeing
BA
$166B
| $2.45B | 1.43% |
11,365,276
-1,250,326
| -10% | -$282M |
|
24
Walt Disney
DIS
$187B
| $2.31B | 1.34% |
20,164,896
-512,025
| -2% | -$60.3M |
|
25
Walmart Inc
WMT
$820B
| $2.17B | 1.26% |
21,023,710
-3,426,361
| -14% | -$341M |
|
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Jennison Associates's Q3 2025 Portfolio in Review
As of Q3 2025, Jennison Associates held 667 positions worth $172B, up 1.9% from $169B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Jennison Associates withdrew a net $8.14B in Q3 2025, closing 107 positions and reducing 253 holdings. Its most notable exit was Fair Isaac, an estimated $172M position sold in full.
By sector, the portfolio is most concentrated in Technology at 41% of assets, up from 36% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in Advanced Micro Devices worth $627M.
- Jennison Associates's largest Q3 2025 buy was Advanced Micro Devices: 3,874,319 shares worth $627M.
- Jennison Associates added most to Oracle in Q3 2025, an estimated $2.24B increase.
- Jennison Associates's biggest Q3 2025 reduction was Vertex Pharmaceuticals, cutting an estimated $1.13B.
- Jennison Associates fully exited Fair Isaac in Q3 2025, selling an estimated $172M.
- Jennison Associates's ten largest holdings make up 47% of its $172B portfolio in Q3 2025.
- Jennison Associates opened 93 new positions and closed 107 in Q3 2025.
- Jennison Associates's portfolio value rose 1.9% quarter-over-quarter to $172B.
Based on Jennison Associates's 13F filing for Q3 2025, filed 30 Oct 2025.