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 |
Advanced Micro Devices
AMD
|
+$1.58B |
| 2 |
Amphenol
APH
|
+$1.06B |
| 3 |
Eli Lilly
LLY
|
+$896M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$780M |
| 5 |
Snowflake
SNOW
|
+$615M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$2.24B |
| 2 |
NVIDIA
NVDA
|
+$1.89B |
| 3 |
Mercado Libre
MELI
|
+$1.5B |
| 4 |
Netflix
NFLX
|
+$1.32B |
| 5 |
Nike
NKE
|
+$826M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 41.63% |
| 2 | Communication Services | 15.64% |
| 3 | Consumer Discretionary | 12.05% |
| 4 | Healthcare | 9.65% |
| 5 | Financials | 6.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.42T
| $14.6B | 8.74% |
78,051,805
-10,158,422
| -12% | -$1.89B |
|
2
Microsoft
MSFT
$3.71T
| $10.2B | 6.11% |
21,051,290
-417,612
| -2% | -$209M |
|
3
Amazon
AMZN
$2.96T
| $10B | 6.02% |
43,437,204
-829,893
| -2% | -$190M |
|
4
Apple
AAPL
$4.57T
| $9.7B | 5.82% |
35,669,018
-1,789,368
| -5% | -$480M |
|
5
Broadcom
AVGO
$2.04T
| $7.58B | 4.55% |
21,892,210
-375,406
| -2% | -$134M |
|
|
6
Alphabet (Google) Class A
GOOGL
$4.33T
| $6.84B | 4.11% |
21,851,279
+2,729,364
| +14% | +$780M |
|
|
7
Eli Lilly
LLY
$1.06T
| $5.52B | 3.31% |
5,133,676
+937,204
| +22% | +$896M |
|
|
8
Meta Platforms (Facebook)
META
$1.51T
| $5.51B | 3.31% |
8,350,538
-3,351,198
| -29% | -$2.24B |
|
9
Tesla
TSLA
$1.3T
| $4.72B | 2.83% |
10,484,848
-424,818
| -4% | -$188M |
|
|
10
Alphabet (Google) Class C
GOOG
$4.32T
| $4.57B | 2.75% |
14,575,191
+404,649
| +3% | +$116M |
|
11
TSMC
TSM
$2.18T
| $4.07B | 2.44% |
13,394,299
+802,757
| +6% | +$236M |
|
|
12
Netflix
NFLX
$309B
| $3.27B | 1.96% |
34,871,951
-12,258,559
| -26% | -$1.32B |
|
13
Shopify
SHOP
$195B
| $3.05B | 1.83% |
18,966,407
+42,976
| +0.2% | +$6.9M |
|
14
Mastercard
MA
$493B
| $2.65B | 1.59% |
4,642,316
-625,414
| -12% | -$350M |
|
15
CrowdStrike
CRWD
$218B
| $2.58B | 1.55% |
22,031,340
-790,308
| -3% | -$101M |
|
|
16
Snowflake
SNOW
$115B
| $2.55B | 1.53% |
11,603,302
+2,519,413
| +28% | +$615M |
|
17
Visa
V
$677B
| $2.49B | 1.49% |
7,096,058
-406,781
| -5% | -$139M |
|
18
GE Aerospace
GE
$384B
| $2.47B | 1.48% |
8,008,069
-422,809
| -5% | -$127M |
|
19
Constellation Energy
CEG
$95.6B
| $2.47B | 1.48% |
6,980,223
+1,064,684
| +18% | +$387M |
|
20
Cadence Design Systems
CDNS
$93.4B
| $2.41B | 1.45% |
7,715,550
-1,016,098
| -12% | -$332M |
|
|
21
Advanced Micro Devices
AMD
$789B
| $2.34B | 1.4% |
10,910,310
+7,035,991
| +182% | +$1.58B |
|
22
Walmart Inc
WMT
$890B
| $2.23B | 1.34% |
20,053,855
-969,855
| -5% | -$104M |
|
23
Boeing
BA
$185B
| $2.21B | 1.32% |
10,163,707
-1,201,569
| -11% | -$247M |
|
24
Costco
COST
$420B
| $1.92B | 1.15% |
2,227,635
-596,481
| -21% | -$541M |
|
25
Walt Disney
DIS
$181B
| $1.9B | 1.14% |
16,688,019
-3,476,877
| -17% | -$383M |
|
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Jennison Associates's Q4 2025 Portfolio in Review
As of Q4 2025, Jennison Associates held 652 positions worth $167B, down 3% from $172B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Jennison Associates withdrew a net $7.12B in Q4 2025, closing 78 positions and reducing 263 holdings. Its most notable exit was Nike, an estimated $826M position sold in full.
By sector, the portfolio is most concentrated in Technology at 42% of assets, up from 41% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Jennison Associates opened a new position in Merck worth $585M.
- Jennison Associates's largest Q4 2025 buy was Merck: 5,559,488 shares worth $585M.
- Jennison Associates added most to Advanced Micro Devices in Q4 2025, an estimated $1.58B increase.
- Jennison Associates's biggest Q4 2025 reduction was Meta Platforms (Facebook), cutting an estimated $2.24B.
- Jennison Associates fully exited Nike in Q4 2025, selling an estimated $826M.
- Jennison Associates's ten largest holdings make up 48% of its $167B portfolio in Q4 2025.
- Jennison Associates opened 92 new positions and closed 78 in Q4 2025.
- Jennison Associates's portfolio value fell 3% quarter-over-quarter to $167B.
Based on Jennison Associates's 13F filing for Q4 2025, filed 30 Jan 2026.