JENNISON ASSOCIATES LLCJENNISON ASSOCIATES LLC

Institutional investor · Portfolio as of Q2 2025

SEC EDGAR SourceSEC Filings
$168.6B
AUM
574
Positions
Q2 2025
Filing
Rating · 3.0
Quarterly Portfolio Change
+11%Q1'24$149.6B+4%Q2'24$156B+3%Q3'24$161.1B+2%Q4'24$164.7B-13%Q1'25$142.6B+18%Q2'25$168.6B
Activity profile
$ moved · Q2'25
New2%Increased59%Decreased37%Exited2%
Composition
Equity vs derivatives
Equity100%Puts0%Calls0%
Holding period
Avg 4.2 years
<1Q6%1-4Q11%1-2Y7%2Y+76%

JENNISON ASSOCIATES LLC manages $168.6B across 574 positions as of Q2 2025. Top holdings: NVDA (8.5%), MSFT (6.5%), AMZN (6.0%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 3/5.0.

Q2 2025 Summary

Active quarter - 76 new positions, 69 exits, 258 increased. Top move: MSFT (INCREASED, conviction 68). Portfolio: $168.6B across 574 positions.

Top holdings by portfolio weight

Total AUM$169B
NVDA8.52%
MSFT6.54%
AMZN5.95%
META5.45%
NFLX4.46%
AAPL3.94%
AVGO3.80%
LLY2.52%
MA2.02%
MELI1.91%
Other1.86%

Portfolio allocation by GICS sector

Sectors11
Technology35.94%
Communication Services17.48%
Consumer Cyclical14.75%
Healthcare9.62%
Financial Services7.85%
Industrials4.81%
Consumer Defensive3.52%
Utilities3.41%
Energy1.21%
Real Estate0.69%
Other0.72%

Behavioral investing profile

7-dimension quality assessment
Solid(3.0 / 5.0)
Track Record65
Conviction43
Concentration0
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Position Outcomes

Best and worst performing positions by estimated return

Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.

Holdings574 positions

Activity:
Stock
Shares
Value
Weight
Avg Buy
Est. P&L
Held
Conviction

NVIDIA CORPORATION

91M$14.4B8.5%$112.12+40.68%
27 qtrssince 2018-Q4
Increased
63

MICROSOFT CORP

22.2M$11B6.5%$180.41+173.92%
27 qtrssince 2018-Q4
Increased
68

AMAZON COM INC

45.7M$10B6.0%$113.21+97.25%
27 qtrssince 2018-Q4
Decreased
0

META PLATFORMS INC

12.4M$9.2B5.4%$296.49+147.07%
27 qtrssince 2018-Q4
Decreased
0

NETFLIX INC.

5.6M$7.5B4.5%$41.81+216.46%
27 qtrssince 2018-Q4
Decreased
0

APPLE INC

32.4M$6.7B3.9%$129.18+55.19%
27 qtrssince 2018-Q4
Decreased
0

BROADCOM INC

23.2M$6.4B3.8%$161.37+66.31%
27 qtrssince 2018-Q4
Decreased
0

ELI LILLY & CO

5.4M$4.2B2.5%$290.35+165.65%
27 qtrssince 2018-Q4
Increased
57

MASTERCARD INCORPORATED

6.1M$3.4B2.0%$250.72+118.58%
27 qtrssince 2018-Q4
Decreased
0

MERCADOLIBRE INC

1.2M$3.2B1.9%$1,239.37+106.56%
27 qtrssince 2018-Q4
Increased
54

COSTCO WHOLESALE CORPORATION

3.2M$3.1B1.9%$323.80+202.98%
27 qtrssince 2018-Q4
Decreased
0

CROWDSTRIKE HLDGS INC

6.1M$3.1B1.8%$236.59+111.05%
22 qtrssince 2020-Q1
Decreased
0

SPOTIFY TECHNOLOGY S A

3.9M$3B1.8%$484.30+59.53%
3 qtrssince 2024-Q4
Decreased
0

CADENCE DESIGN SYSTEM INC

9.3M$2.9B1.7%$229.88+32.76%
15 qtrssince 2021-Q4
Increased
52

VERTEX PHARMACEUTICALS INC

6.2M$2.7B1.6%$371.29+18.86%
27 qtrssince 2018-Q4
Increased
60
TSMTSM
ADR

TAIWAN SEMICONDUCTOR MANUFAC

12M$2.7B1.6%$163.73+38.79%
10 qtrssince 2023-Q1
Increased
62

BOEING CO

12.6M$2.6B1.6%$208.34+2.98%
7 qtrssince 2023-Q4
Increased
60

VISA INC

7.4M$2.6B1.6%$156.65+121.25%
27 qtrssince 2018-Q4
Decreased
0

ALPHABET INC

14.8M$2.6B1.5%$115.26+54.64%
27 qtrssince 2018-Q4
Decreased
0

DISNEY WALT CO

20.7M$2.6B1.5%$113.03+7.52%
6 qtrssince 2024-Q1
Increased
55
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer

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