Jennison Associates LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 5, 2025), Jennison Associates LLC reported 563 stock positions worth $142.6 billion. Its top holding was Nvidia (NVDA) at 6.8% of the portfolio, followed by Amazon.com (AMZN, 6.5%) and Apple (AAPL, 5.7%). Compared with Q4 2024, it opened 74 new positions, sold out of 79, added to 218 and reduced 265. The biggest buy was Spotify Technology (SPOT, shares +42%) and the biggest sale Broadcom (AVGO, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0000053417
- Portfolio Value
- $142.6B (Q1 2025)
- SEC Filing
- 0000053417-25-000046 ↗ filed May 5, 2025
Holdings Value
Holdings 563 stocks · $142.6B
| NVDA Nvidia Corp. | 6.79% | 89,367,948 | $9.7B | Reduce -8.1% |
| AMZN Amazon.com Inc. | 6.46% | 48,409,201 | $9.2B | Reduce -8.4% |
| AAPL Apple Inc. | 5.70% | 36,585,441 | $8.1B | Reduce -7.3% |
| META Meta Platforms Inc. Class A | 5.32% | 13,166,153 | $7.6B | Reduce -7.6% |
| MSFT Microsoft Corp. | 5.31% | 20,167,966 | $7.6B | Reduce -11.5% |
| NFLX Netflix Inc. | 4.27% | 6,530,346 | $6.1B | Reduce -1.3% |
| AVGO Broadcom Inc. | 3.14% | 26,760,207 | $4.5B | Reduce -14.4% |
| LLY Eli Lilly & Co. | 3.02% | 5,221,016 | $4.3B | Add +8.8% |
| MA Mastercard Inc. Class A | 2.33% | 6,068,418 | $3.3B | Reduce -4.5% |
| COST Costco Wholesale Corp. | 2.23% | 3,357,630 | $3.2B | Add +3.9% |
| V Visa Inc. Class A | 1.82% | 7,383,557 | $2.6B | Reduce -4.4% |
| GOOGL Alphabet Inc. Class A | 1.79% | 16,469,948 | $2.5B | Add +1.5% |
| VRTX Vertex Pharmaceuticals Inc. | 1.72% | 5,062,442 | $2.5B | Add +17.3% |
| SPOT Spotify Technology SA | 1.64% | 4,247,940 | $2.3B | Add +42.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 1.62% | 6,565,275 | $2.3B | Add +21.1% |
| CDNS Cadence Design SYS Inc. | 1.62% | 9,064,953 | $2.3B | Add +13.2% |
| TSLA Tesla Inc. | 1.58% | 8,718,411 | $2.3B | Reduce -10.2% |
| MELI MercadoLibre Inc. | 1.58% | 1,154,116 | $2.3B | Add +1.6% |
| GOOG Alphabet Inc. Class C | 1.57% | 14,307,441 | $2.2B | Reduce -0.0% |
| WMT Walmart Inc. | 1.53% | 24,876,980 | $2.2B | Reduce -1.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.31% | 18,902,149 | $1.9B | Reduce -1.5% |
| BA The Boeing Co. | 1.24% | 10,386,014 | $1.8B | Add +0.8% |
| UBER Uber Technologies Inc. | 1.23% | 24,037,678 | $1.8B | Reduce -9.2% |
| NOW ServiceNow Inc. | 1.12% | 2,012,921 | $1.6B | Reduce -14.4% |
| TSM Taiwan Semiconductor-SP ADR | 1.11% | 9,509,032 | $1.6B | Add +36.8% |
| GE General Electric filed as GE AEROSPACE | 0.96% | 6,803,910 | $1.4B | Reduce -13.6% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.92% | 18,822,002 | $1.3B | Reduce -5.6% |
| ISRG Intuitive Surgical Inc. | 0.90% | 2,594,031 | $1.3B | Reduce -7.7% |
| ORLY O'reilly Automotive Inc. | 0.74% | 734,902 | $1.1B | Reduce -12.7% |
| SNOW Snowflake Inc. | 0.68% | 6,637,278 | $970.1M | Reduce -13.1% |
| CRM Salesforce Inc. | 0.67% | 3,569,900 | $958.0M | Reduce -19.5% |
| PGR Progressive Corp. | 0.64% | 3,239,191 | $916.7M | Reduce -21.5% |
| HLT Hilton Worldwide Holdings Inc. | 0.60% | 3,784,366 | $861.1M | Add +11.3% |
| CEG Constellation Energy | 0.60% | 4,253,439 | $857.6M | Add +428.6% |
| SBUX Starbucks Corp. | 0.57% | 8,336,826 | $817.8M | New |
| ABNB Airbnb Inc. Class A | 0.57% | 6,806,088 | $813.1M | Reduce -32.1% |
| AZN Astrazeneca PLC-Spons ADR | 0.54% | 10,562,232 | $776.3M | Reduce -31.6% |
| CAVA Cava Group Inc. | 0.52% | 8,519,459 | $736.2M | Add +246.1% |
| EW Edwards Lifesciences Corp. | 0.51% | 10,086,033 | $731.0M | Add +34.3% |
| MCO Moody's Corp. | 0.51% | 1,569,087 | $730.7M | Reduce -28.1% |
| DXCM Dexcom Inc. | 0.50% | 10,523,246 | $718.6M | Add +37.7% |
| RACE Ferrari NV | 0.50% | 1,687,903 | $716.8M | Reduce -37.3% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.46% | 12,098,205 | $662.0M | Reduce -12.9% |
| DDOG Datadog Inc. Class A | 0.44% | 6,389,613 | $633.9M | Reduce -31.1% |
| APP AppLovin Corp. Class A | 0.44% | 2,386,980 | $632.5M | Add +86.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.44% | 5,114,576 | $623.0M | Reduce -25.6% |
| GS Goldman Sachs Group Inc. | 0.40% | 1,054,478 | $576.1M | Reduce -4.2% |
| NKE Nike Inc. Class B | 0.36% | 8,019,081 | $509.1M | New |
| KKR KKR & Co. Inc. | 0.36% | 4,393,841 | $508.0M | Add +4918.6% |
| SHOP Shopify Inc. Class A | 0.35% | 5,280,781 | $504.2M | Add +324.3% |
| NI Nisource Inc. | 0.33% | 11,577,832 | $464.2M | Add +8.0% |
| IOT Samsara Inc. Class A | 0.32% | 11,763,133 | $450.9M | Add +1881.8% |
| CYBR Cyberark Software Ltd./Israel | 0.31% | 1,292,027 | $436.7M | Reduce -19.4% |
| NEE Nextera Energy Inc. | 0.30% | 6,100,385 | $432.5M | Add +1.3% |
| TXN Texas Instruments Inc. | 0.28% | 2,214,471 | $397.9M | Add +2898.0% |
| JPM JPMorgan Chase & Co. | 0.28% | 1,611,965 | $395.4M | Reduce -7.2% |
| ADBE Adobe Inc. | 0.28% | 1,028,768 | $394.6M | Reduce -44.8% |
| SE Sea Ltd.-ADR | 0.24% | 2,578,905 | $336.5M | New |
| AXON Axon Enterprise Inc. | 0.23% | 614,053 | $323.0M | Add +23203.7% |
| BMY Bristol-Myers Squibb Co. | 0.22% | 5,240,877 | $319.6M | Add +43.1% |
| LNG Cheniere Energy Inc. | 0.22% | 1,357,271 | $314.1M | Reduce -7.0% |
| LPLA LPL Financial Holdings Inc. | 0.22% | 959,371 | $313.8M | Add +786.2% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.22% | 30,394,814 | $311.2M | Reduce -16.7% |
| VRT Vertiv Holdings Co. Class A | 0.22% | 4,265,097 | $307.9M | Reduce -45.0% |
| PNC PNC Financial Services Group | 0.21% | 1,699,526 | $298.7M | Add +5.6% |
| UNH Unitedhealth Group Inc. | 0.18% | 502,076 | $263.0M | Add +105.4% |
| ABT Abbott Laboratories | 0.17% | 1,866,391 | $247.6M | Add +55.4% |
| MET Metlife Inc. | 0.17% | 3,073,394 | $246.8M | Reduce -6.1% |
| CB Chubb Ltd. | 0.17% | 780,832 | $235.8M | Reduce -12.8% |
| SHEL Shell PLC-ADR | 0.15% | 3,006,802 | $220.3M | Reduce -1.3% |
| ETR Entergy Corp. | 0.15% | 2,532,006 | $216.5M | Add +4.5% |
| GLPI Gaming and Leisure Propertie | 0.15% | 4,252,571 | $216.5M | Reduce -0.8% |
| CNP Centerpoint Energy Inc. | 0.15% | 5,973,319 | $216.4M | Reduce -12.4% |
| WMB Williams Cos Inc. | 0.15% | 3,619,140 | $216.3M | Reduce -0.6% |
| FICO Fair Isaac Corp. | 0.15% | 116,546 | $214.9M | Reduce -54.2% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.15% | 4,848,438 | $212.9M | Add +136.6% |
| XOM Exxon Mobil Corp. | 0.15% | 1,774,811 | $211.1M | Add +15.0% |
| PCG P G & E Corp. | 0.15% | 12,266,907 | $210.7M | Reduce -1.3% |
| UL Unilever PLC | 0.14% | 3,413,364 | $203.3M | Reduce -1.2% |
| CSCO Cisco Systems Inc. | 0.14% | 3,289,994 | $203.0M | Reduce -4.4% |
| CVX Chevron Corp. | 0.14% | 1,189,354 | $199.0M | Add +138.2% |
| SO The Southern Co. | 0.14% | 2,161,929 | $198.8M | Add +40.5% |
| EMBJ Embraer SA-Spon ADR | 0.13% | 4,126,160 | $190.6M | Add +215.7% |
| PH Parker Hannifin Corp. | 0.13% | 308,098 | $187.3M | Reduce -5.7% |
| UNP Union Pacific Corp. | 0.13% | 764,665 | $180.6M | Reduce -4.4% |
| ARQT Arcutis Biotherapeutics Inc. | 0.12% | 11,360,875 | $177.7M | Reduce -7.9% |
| RTX RTX Corp. | 0.12% | 1,327,230 | $175.8M | Reduce -12.3% |
| AEE Ameren Corporation | 0.12% | 1,692,115 | $169.9M | Add +15.2% |
| PEG Public Service Enterprise GP | 0.11% | 1,975,626 | $162.6M | Reduce -41.6% |
| VST Vistra Corp. | 0.11% | 1,383,432 | $162.5M | Reduce -25.4% |
| AXS Axis Capital Holdings Ltd. | 0.11% | 1,604,995 | $160.9M | Reduce -2.8% |
| KEYS Keysight Technologies Inc. | 0.11% | 1,063,270 | $159.2M | Add +0.2% |
| PWR Quanta Services Inc. | 0.11% | 620,973 | $157.8M | Add +433.3% |
| RDDT Reddit Inc. Class A | 0.11% | 1,490,741 | $156.4M | Reduce -50.8% |
| ABBV Abbvie Inc. | 0.11% | 744,940 | $156.1M | Reduce -14.8% |
| EWBC East West Bancorp Inc. | 0.11% | 1,701,640 | $152.7M | Add +2.0% |
| PPL PPL Corp. | 0.10% | 4,124,758 | $148.9M | Reduce -1.9% |
| MKL Markel Group Inc. | 0.10% | 79,631 | $148.9M | Add +1.1% |
| ARGX Argenx SE - ADR | 0.10% | 249,461 | $147.6M | Reduce -17.4% |
| CMS CMS Energy Corp. | 0.10% | 1,872,284 | $140.6M | Reduce -3.1% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $16.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 279,165 | $12.5M | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 50,000 | $3.0M | No change |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 15,911 | $646K | No change |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 10,076 | $459K | No change |
Total filed on the 13F, all lines: $142.6B.
Portfolio Sells Q4 2024 → Q1 2025
| AVGO Broadcom Inc. | Reduce -14.4% | 3.14% | −1.26 |
| NVDA Nvidia Corp. | Reduce -8.1% | 6.79% | −1.14 |
| ETN Eaton Corp. PLC | Reduce -99.8% | 0.00% | −0.87 |
| TSLA Tesla Inc. | Reduce -10.2% | 1.58% | −0.80 |
| AMD Advanced Micro Devices | Reduce -100.0% | 0.00% | −0.67 |
| PANW Palo Alto Networks Inc. | Reduce -99.5% | 0.00% | −0.63 |
| AMZN Amazon.com Inc. | Reduce -8.4% | 6.46% | −0.58 |
| TTD Trade Desk Inc./the Class A | Reduce -12.9% | 0.46% | −0.53 |
| MSFT Microsoft Corp. | Reduce -11.5% | 5.31% | −0.53 |
| NOW ServiceNow Inc. | Reduce -14.4% | 1.12% | −0.39 |
| MAR Marriott International Class A | Reduce -99.8% | 0.00% | −0.37 |
| DDOG Datadog Inc. Class A | Reduce -31.1% | 0.44% | −0.36 |
| HD Home Depot Inc. | Reduce -78.8% | 0.10% | −0.33 |
| VRT Vertiv Holdings Co. Class A | Reduce -45.0% | 0.22% | −0.32 |
| AAPL Apple Inc. | Reduce -7.3% | 5.70% | −0.30 |
| ANET Arista Networks Inc. | Reduce -92.2% | 0.02% | −0.29 |
| ADI Analog Devices Inc. | Reduce -76.0% | 0.08% | −0.24 |
| ABNB Airbnb Inc. Class A | Reduce -32.1% | 0.57% | −0.23 |
| CRM Salesforce Inc. | Reduce -19.5% | 0.67% | −0.23 |
| ADBE Adobe Inc. | Reduce -44.8% | 0.28% | −0.23 |
| RACE Ferrari NV | Reduce -37.3% | 0.50% | −0.19 |
| RDDT Reddit Inc. Class A | Reduce -50.8% | 0.11% | −0.19 |
| NVR NVR Inc. | Sold out | 0.00% | −0.19 |
| FICO Fair Isaac Corp. | Reduce -54.2% | 0.15% | −0.16 |
| FLUT Flutter Entertainment PLC-Di | Sold out | 0.00% | −0.15 |
| ALAB Astera Labs Inc. | Sold out | 0.00% | −0.14 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -5.6% | 0.92% | −0.13 |
| MCO Moody's Corp. | Reduce -28.1% | 0.51% | −0.11 |
| MNDY Monday.com Ltd. | Reduce -92.1% | 0.01% | −0.11 |
| GLOB Globant SA | Sold out | 0.00% | −0.10 |
| GOOG Alphabet Inc. Class C | Reduce -0.0% | 1.57% | −0.09 |
| ORCL Oracle Corp. | Reduce -61.1% | 0.05% | −0.08 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -31.6% | 0.54% | −0.07 |
| TJX TJX Companies Inc. | Reduce -25.6% | 0.44% | −0.07 |
| BX Blackstone Inc. | Reduce -61.8% | 0.04% | −0.07 |
| CI The Cigna Group | Sold out | 0.00% | −0.06 |
| FRPT Freshpet Inc. | Reduce -51.5% | 0.03% | −0.06 |
| PEG Public Service Enterprise GP | Reduce -41.6% | 0.11% | −0.06 |
| DELL Dell Technologies -C | Reduce -68.8% | 0.02% | −0.06 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -31.7% | 0.09% | −0.06 |
| NARI Inari Medical Inc. | Sold out | 0.00% | −0.05 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −0.05 |
| BAC Bank of America Corp. | Reduce -39.6% | 0.09% | −0.05 |
| TOL Toll Brothers Inc. | Reduce -47.6% | 0.05% | −0.05 |
| PR Permian Resources Corp. Class A | Reduce -60.6% | 0.04% | −0.04 |
| MMYT Makemytrip Ltd. | Reduce -32.5% | 0.09% | −0.04 |
| OTIS Otis Worldwide Corp. | Sold out | 0.00% | −0.04 |
| EIX Edison International | Sold out | 0.00% | −0.04 |
| VST Vistra Corp. | Reduce -25.4% | 0.11% | −0.04 |
| APO Apollo Global Management Inc. | Reduce -53.2% | 0.03% | −0.04 |
Portfolio Buys Q4 2024 → Q1 2025
| SPOT Spotify Technology SA | Add +42.3% | 1.64% | +0.83 |
| LLY Eli Lilly & Co. | Add +8.8% | 3.02% | +0.78 |
| VRTX Vertex Pharmaceuticals Inc. | Add +17.3% | 1.72% | +0.67 |
| SBUX Starbucks Corp. | New | 0.57% | +0.57 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +21.1% | 1.62% | +0.50 |
| CEG Constellation Energy | Add +428.6% | 0.60% | +0.49 |
| COST Costco Wholesale Corp. | Add +3.9% | 2.23% | +0.43 |
| MELI MercadoLibre Inc. | Add +1.6% | 1.58% | +0.41 |
| NKE Nike Inc. Class B | New | 0.36% | +0.36 |
| KKR KKR & Co. Inc. | Add +4918.6% | 0.36% | +0.35 |
| CAVA Cava Group Inc. | Add +246.1% | 0.52% | +0.35 |
| IOT Samsara Inc. Class A | Add +1881.8% | 0.32% | +0.30 |
| TSM Taiwan Semiconductor-SP ADR | Add +36.8% | 1.11% | +0.27 |
| SHOP Shopify Inc. Class A | Add +324.3% | 0.35% | +0.27 |
| TXN Texas Instruments Inc. | Add +2898.0% | 0.28% | +0.27 |
| SE Sea Ltd.-ADR | New | 0.24% | +0.24 |
| AXON Axon Enterprise Inc. | Add +23203.7% | 0.23% | +0.23 |
| LPLA LPL Financial Holdings Inc. | Add +786.2% | 0.22% | +0.20 |
| APP AppLovin Corp. Class A | Add +86.5% | 0.44% | +0.19 |
| EW Edwards Lifesciences Corp. | Add +34.3% | 0.51% | +0.18 |
| CDNS Cadence Design SYS Inc. | Add +13.2% | 1.62% | +0.16 |
| DXCM Dexcom Inc. | Add +37.7% | 0.50% | +0.14 |
| BA The Boeing Co. | Add +0.8% | 1.24% | +0.14 |
| UNH Unitedhealth Group Inc. | Add +105.4% | 0.18% | +0.11 |
| EMBJ Embraer SA-Spon ADR | Add +215.7% | 0.13% | +0.10 |
| BMY Bristol-Myers Squibb Co. | Add +43.1% | 0.22% | +0.10 |
| CVX Chevron Corp. | Add +138.2% | 0.14% | +0.10 |
| HLT Hilton Worldwide Holdings Inc. | Add +11.3% | 0.60% | +0.09 |
| ABT Abbott Laboratories | Add +55.4% | 0.17% | +0.09 |
| PWR Quanta Services Inc. | Add +433.3% | 0.11% | +0.09 |
| NI Nisource Inc. | Add +8.0% | 0.33% | +0.09 |
| CVS CVS Health Corp. | Add +503.8% | 0.09% | +0.08 |
| ONON On Holding AG Class A | Add +136.6% | 0.15% | +0.08 |
| BABA Alibaba Group Holding-SP ADR | New | 0.07% | +0.07 |
| SO The Southern Co. | Add +40.5% | 0.14% | +0.06 |
| ACWI iShares MSCI Acwi ETF | Add +494.0% | 0.06% | +0.06 |
| EXC Exelon Corp. | Add +58.8% | 0.09% | +0.05 |
| DHR Danaher Corp. | New | 0.05% | +0.05 |
| MMM 3M Co. | Add +84.7% | 0.09% | +0.05 |
| IDA Idacorp Inc. | New | 0.05% | +0.05 |
| XOM Exxon Mobil Corp. | Add +15.0% | 0.15% | +0.05 |
| GPOR Gulfport Energy Corp. | Add +1437.4% | 0.05% | +0.05 |
| D Dominion Energy Inc. | Add +67.6% | 0.08% | +0.04 |
| NEE Nextera Energy Inc. | Add +1.3% | 0.30% | +0.04 |
| ETR Entergy Corp. | Add +4.5% | 0.15% | +0.04 |
| AEE Ameren Corporation | Add +15.2% | 0.12% | +0.04 |
| TOST Toast Inc. Class A | Add +466.9% | 0.05% | +0.04 |
| AEP American Electric Power | Add +26.2% | 0.09% | +0.04 |
| CNM Core & Main Inc. Class A | New | 0.04% | +0.04 |
| PINS Pinterest Inc. Class A | Add +88.3% | 0.07% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 564 | $166.7B | NVDA, AAPL, AMZN, AVGO, GOOGL |
| Q1 2026 | 559 | $145.4B | NVDA, AMZN, AAPL, AVGO, MSFT |
| Q4 2025 | 571 | $166.6B | NVDA, MSFT, AMZN, AAPL, AVGO |
| Q3 2025 | 557 | $171.8B | NVDA, MSFT, AMZN, AAPL, META |
| Q2 2025 | 570 | $168.6B | NVDA, MSFT, AMZN, META, NFLX |
| Q1 2025 | 563 | $142.6B | NVDA, AMZN, AAPL, META, MSFT |
| Q4 2024 | 568 | $164.7B | NVDA, AMZN, AAPL, MSFT, META |
| Q3 2024 | 557 | $161.1B | NVDA, MSFT, AMZN, AAPL, META |
| Q2 2024 | 571 | $156.0B | NVDA, MSFT, AMZN, AAPL, META |
| Q1 2024 | 571 | $149.6B | NVDA, MSFT, AMZN, META, LLY |