Jennison Associates LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 1, 2025), Jennison Associates LLC reported 570 stock positions worth $168.6 billion. Its top holding was Nvidia (NVDA) at 8.5% of the portfolio, followed by Microsoft (MSFT, 6.5%) and Amazon.com (AMZN, 6.0%). Compared with Q1 2025, it opened 75 new positions, sold out of 68, added to 258 and reduced 234. The biggest buy was Nvidia (NVDA, shares +2%) and the biggest sale Apple (AAPL, shares −11%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0000053417
- Portfolio Value
- $168.6B (Q2 2025)
- SEC Filing
- 0000053417-25-000076 ↗ filed Aug 1, 2025
Holdings Value
Holdings 570 stocks · $168.6B
| NVDA Nvidia Corp. | 8.52% | 90,962,458 | $14.4B | Add +1.8% |
| MSFT Microsoft Corp. | 6.54% | 22,158,469 | $11.0B | Add +9.9% |
| AMZN Amazon.com Inc. | 5.95% | 45,731,623 | $10.0B | Reduce -5.5% |
| META Meta Platforms Inc. Class A | 5.45% | 12,444,957 | $9.2B | Reduce -5.5% |
| NFLX Netflix Inc. | 4.46% | 5,617,176 | $7.5B | Reduce -14.0% |
| AAPL Apple Inc. | 3.94% | 32,412,407 | $6.7B | Reduce -11.4% |
| AVGO Broadcom Inc. | 3.80% | 23,240,649 | $6.4B | Reduce -13.2% |
| LLY Eli Lilly & Co. | 2.52% | 5,447,636 | $4.2B | Add +4.3% |
| MA Mastercard Inc. Class A | 2.02% | 6,051,004 | $3.4B | Reduce -0.3% |
| MELI MercadoLibre Inc. | 1.91% | 1,235,240 | $3.2B | Add +7.0% |
| COST Costco Wholesale Corp. | 1.86% | 3,169,194 | $3.1B | Reduce -5.6% |
| CRWD CrowdStrike Holdings Inc. Class A | 1.85% | 6,113,100 | $3.1B | Reduce -6.9% |
| SPOT Spotify Technology SA | 1.78% | 3,910,788 | $3.0B | Reduce -7.9% |
| CDNS Cadence Design SYS Inc. | 1.71% | 9,338,102 | $2.9B | Add +3.0% |
| VRTX Vertex Pharmaceuticals Inc. | 1.62% | 6,151,505 | $2.7B | Add +21.5% |
| TSM Taiwan Semiconductor-SP ADR | 1.62% | 12,046,792 | $2.7B | Add +26.7% |
| BA The Boeing Co. | 1.57% | 12,615,602 | $2.6B | Add +21.5% |
| V Visa Inc. Class A | 1.55% | 7,368,920 | $2.6B | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 1.55% | 14,818,272 | $2.6B | Reduce -10.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.52% | 20,676,921 | $2.6B | Add +9.4% |
| TSLA Tesla Inc. | 1.49% | 7,888,116 | $2.5B | Reduce -9.5% |
| NOW ServiceNow Inc. | 1.45% | 2,376,714 | $2.4B | Add +18.1% |
| WMT Walmart Inc. | 1.42% | 24,450,071 | $2.4B | Reduce -1.7% |
| GOOG Alphabet Inc. Class C | 1.30% | 12,384,379 | $2.2B | Reduce -13.4% |
| CEG Constellation Energy | 1.14% | 5,956,566 | $1.9B | Add +40.0% |
| SNOW Snowflake Inc. | 1.06% | 8,000,667 | $1.8B | Add +20.5% |
| GE General Electric filed as GE AEROSPACE | 1.06% | 6,936,337 | $1.8B | Add +1.9% |
| ISRG Intuitive Surgical Inc. | 1.01% | 3,122,390 | $1.7B | Add +20.4% |
| UBER Uber Technologies Inc. | 0.98% | 17,726,469 | $1.7B | Reduce -26.3% |
| SHOP Shopify Inc. Class A | 0.79% | 11,519,610 | $1.3B | Add +118.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.77% | 18,885,343 | $1.3B | Add +0.3% |
| ORLY O'reilly Automotive Inc. | 0.75% | 14,116,976 | $1.3B | Add +28.1% |
| HLT Hilton Worldwide Holdings Inc. | 0.73% | 4,631,719 | $1.2B | Add +22.4% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.61% | 14,267,457 | $1.0B | Add +17.9% |
| DXCM Dexcom Inc. | 0.60% | 11,517,546 | $1.0B | Add +9.4% |
| EW Edwards Lifesciences Corp. | 0.54% | 11,670,991 | $912.8M | Add +15.7% |
| RACE Ferrari NV | 0.54% | 1,841,200 | $903.0M | Add +9.1% |
| APP AppLovin Corp. Class A | 0.52% | 2,504,180 | $876.7M | Add +4.9% |
| PGR Progressive Corp. | 0.51% | 3,226,560 | $861.0M | Reduce -0.4% |
| AZN Astrazeneca PLC-Spons ADR | 0.50% | 12,167,365 | $850.3M | Add +15.2% |
| DDOG Datadog Inc. Class A | 0.44% | 5,545,010 | $744.9M | Reduce -13.2% |
| SE Sea Ltd.-ADR | 0.40% | 4,266,600 | $682.4M | Add +65.4% |
| MCO Moody's Corp. | 0.40% | 1,345,306 | $674.8M | Reduce -14.3% |
| GS Goldman Sachs Group Inc. | 0.40% | 950,708 | $672.9M | Reduce -9.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.39% | 5,256,301 | $649.1M | Add +2.8% |
| TXN Texas Instruments Inc. | 0.37% | 2,992,090 | $621.2M | Add +35.1% |
| ABNB Airbnb Inc. Class A | 0.35% | 4,501,151 | $595.7M | Reduce -33.9% |
| NKE Nike Inc. Class B | 0.35% | 8,319,862 | $591.0M | Add +3.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.34% | 41,962,679 | $575.7M | Add +38.1% |
| CRM Salesforce Inc. | 0.32% | 1,999,019 | $545.1M | Reduce -44.0% |
| CAVA Cava Group Inc. | 0.32% | 6,396,155 | $538.7M | Reduce -24.9% |
| LPLA LPL Financial Holdings Inc. | 0.31% | 1,402,750 | $526.0M | Add +46.2% |
| CYBR Cyberark Software Ltd./Israel | 0.30% | 1,261,041 | $513.1M | Reduce -2.4% |
| AXON Axon Enterprise Inc. | 0.30% | 613,731 | $508.1M | Reduce -0.1% |
| SBUX Starbucks Corp. | 0.30% | 5,512,982 | $505.2M | Reduce -33.9% |
| NI Nisource Inc. | 0.28% | 11,734,790 | $473.4M | Add +1.4% |
| JPM JPMorgan Chase & Co. | 0.26% | 1,533,788 | $444.7M | Reduce -4.8% |
| HUBS HubSpot Inc. | 0.26% | 794,677 | $442.3M | Add +548.6% |
| LNG Cheniere Energy Inc. | 0.24% | 1,663,035 | $405.0M | Add +22.5% |
| TOST Toast Inc. Class A | 0.23% | 8,601,887 | $381.0M | Add +331.0% |
| ABT Abbott Laboratories | 0.22% | 2,667,555 | $362.8M | Add +42.9% |
| NEE Nextera Energy Inc. | 0.20% | 4,941,249 | $343.0M | Reduce -19.0% |
| KKR KKR & Co. Inc. | 0.20% | 2,574,018 | $342.4M | Reduce -41.4% |
| EMBJ Embraer SA-Spon ADR | 0.20% | 5,941,202 | $338.1M | Add +44.0% |
| VST Vistra Corp. | 0.20% | 1,712,726 | $331.9M | Add +23.8% |
| PNC PNC Financial Services Group | 0.18% | 1,630,661 | $304.0M | Reduce -4.0% |
| CNP Centerpoint Energy Inc. | 0.17% | 7,859,693 | $288.8M | Add +31.6% |
| CVS CVS Health Corp. | 0.16% | 4,014,139 | $276.9M | Add +111.7% |
| MET Metlife Inc. | 0.15% | 3,247,813 | $261.2M | Add +5.7% |
| CSCO Cisco Systems Inc. | 0.14% | 3,489,029 | $242.1M | Add +6.0% |
| WMB Williams Cos Inc. | 0.14% | 3,847,974 | $241.7M | Add +6.3% |
| IOT Samsara Inc. Class A | 0.14% | 6,054,741 | $240.9M | Reduce -48.5% |
| SO The Southern Co. | 0.14% | 2,565,858 | $235.6M | Add +18.7% |
| MRSH Marsh & McLennan Cos | 0.14% | 1,051,055 | $229.8M | Add +225.1% |
| BSX Boston Scientific Corp. | 0.13% | 2,115,002 | $227.2M | Add +127.9% |
| PH Parker Hannifin Corp. | 0.13% | 323,697 | $226.1M | Add +5.1% |
| JCI Johnson Controls Internation | 0.13% | 2,124,125 | $224.4M | Add +232.3% |
| CB Chubb Ltd. | 0.13% | 744,344 | $215.7M | Reduce -4.7% |
| GLPI Gaming and Leisure Propertie | 0.13% | 4,599,033 | $214.7M | Add +8.2% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.13% | 4,090,779 | $212.9M | Reduce -15.6% |
| SHEL Shell PLC-ADR | 0.12% | 2,808,170 | $197.7M | Reduce -6.6% |
| XOM Exxon Mobil Corp. | 0.12% | 1,827,598 | $197.0M | Add +3.0% |
| UL Unilever PLC | 0.11% | 3,157,052 | $193.1M | Reduce -7.5% |
| MMYT Makemytrip Ltd. | 0.11% | 1,849,767 | $181.3M | Add +38.0% |
| ETR Entergy Corp. | 0.10% | 2,129,300 | $177.0M | Reduce -15.9% |
| FICO Fair Isaac Corp. | 0.10% | 93,872 | $171.6M | Reduce -19.4% |
| KEYS Keysight Technologies Inc. | 0.10% | 1,045,971 | $171.4M | Reduce -1.6% |
| AMGN Amgen Inc. | 0.10% | 604,774 | $168.9M | Add +248.1% |
| PFGC Performance Food Group Co. | 0.10% | 1,860,048 | $162.7M | Add +10.2% |
| EGO Eldorado Gold Corp. | 0.10% | 7,990,223 | $162.5M | Add +10.3% |
| FOUR SHIFT4 Payments Inc. Class A | 0.10% | 1,636,924 | $162.2M | Add +2.6% |
| AEE Ameren Corporation | 0.10% | 1,671,527 | $160.5M | Reduce -1.2% |
| MKL Markel Group Inc. | 0.09% | 80,119 | $160.0M | Add +0.6% |
| PCG P G & E Corp. | 0.09% | 11,269,211 | $157.1M | Reduce -8.1% |
| ARQT Arcutis Biotherapeutics Inc. | 0.09% | 11,109,405 | $155.8M | Reduce -2.2% |
| IDA Idacorp Inc. | 0.09% | 1,323,656 | $152.8M | Add +115.3% |
| AXS Axis Capital Holdings Ltd. | 0.09% | 1,450,136 | $150.6M | Reduce -9.7% |
| RL Ralph Lauren Corp. | 0.09% | 534,443 | $146.6M | Reduce -5.5% |
| ADI Analog Devices Inc. | 0.09% | 615,272 | $146.4M | Add +2.9% |
| ARGX Argenx SE - ADR | 0.09% | 264,647 | $145.9M | Add +6.1% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $15.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 279,165 | $10.5M | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 50,000 | $3.4M | No change |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 15,911 | $632K | No change |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 10,076 | $446K | No change |
Total filed on the 13F, all lines: $168.6B.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -11.4% | 3.94% | −1.76 |
| AMZN Amazon.com Inc. | Reduce -5.5% | 5.95% | −0.51 |
| COST Costco Wholesale Corp. | Reduce -5.6% | 1.86% | −0.37 |
| CRM Salesforce Inc. | Reduce -44.0% | 0.32% | −0.35 |
| MA Mastercard Inc. Class A | Reduce -0.3% | 2.02% | −0.32 |
| SBUX Starbucks Corp. | Reduce -33.9% | 0.30% | −0.27 |
| GOOG Alphabet Inc. Class C | Reduce -13.4% | 1.30% | −0.26 |
| V Visa Inc. Class A | Reduce -0.2% | 1.55% | −0.26 |
| UBER Uber Technologies Inc. | Reduce -26.3% | 0.98% | −0.25 |
| GOOGL Alphabet Inc. Class A | Reduce -10.0% | 1.55% | −0.24 |
| BMY Bristol-Myers Squibb Co. | Reduce -99.5% | 0.00% | −0.22 |
| ABNB Airbnb Inc. Class A | Reduce -33.9% | 0.35% | −0.22 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.22 |
| CAVA Cava Group Inc. | Reduce -24.9% | 0.32% | −0.20 |
| ADBE Adobe Inc. | Reduce -65.8% | 0.08% | −0.20 |
| IOT Samsara Inc. Class A | Reduce -48.5% | 0.14% | −0.17 |
| KKR KKR & Co. Inc. | Reduce -41.4% | 0.20% | −0.15 |
| PGR Progressive Corp. | Reduce -0.4% | 0.51% | −0.13 |
| WMT Walmart Inc. | Reduce -1.7% | 1.42% | −0.11 |
| MCO Moody's Corp. | Reduce -14.3% | 0.40% | −0.11 |
| UNH Unitedhealth Group Inc. | Reduce -22.0% | 0.07% | −0.11 |
| RDDT Reddit Inc. Class A | Reduce -99.6% | 0.00% | −0.11 |
| NEE Nextera Energy Inc. | Reduce -19.0% | 0.20% | −0.10 |
| TSLA Tesla Inc. | Reduce -9.5% | 1.49% | −0.10 |
| HD Home Depot Inc. | Reduce -94.0% | 0.01% | −0.09 |
| PWR Quanta Services Inc. | Reduce -81.4% | 0.03% | −0.08 |
| UNP Union Pacific Corp. | Reduce -55.9% | 0.05% | −0.08 |
| TRGP Targa Resources Corp. | Reduce -77.1% | 0.02% | −0.08 |
| RTX RTX Corp. | Reduce -61.2% | 0.04% | −0.08 |
| CVX Chevron Corp. | Reduce -25.4% | 0.08% | −0.06 |
| ACWI iShares MSCI Acwi ETF | Reduce -92.8% | 0.00% | −0.06 |
| MRVL Marvell Technology Inc. | Reduce -97.6% | 0.00% | −0.06 |
| TFC Truist Financial Corp. | Reduce -58.0% | 0.03% | −0.06 |
| PCG P G & E Corp. | Reduce -8.1% | 0.09% | −0.05 |
| GEHC GE Healthcare Technology | Reduce -53.4% | 0.03% | −0.05 |
| FICO Fair Isaac Corp. | Reduce -19.4% | 0.10% | −0.05 |
| ETR Entergy Corp. | Reduce -15.9% | 0.10% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -57.2% | 0.03% | −0.05 |
| ABBV Abbvie Inc. | Reduce -18.2% | 0.07% | −0.04 |
| BAC Bank of America Corp. | Reduce -37.9% | 0.06% | −0.04 |
| CB Chubb Ltd. | Reduce -4.7% | 0.13% | −0.04 |
| SHEL Shell PLC-ADR | Reduce -6.6% | 0.12% | −0.04 |
| GLBE Global-E Online Ltd. | Sold out | 0.00% | −0.04 |
| AEP American Electric Power | Reduce -22.7% | 0.06% | −0.03 |
| CBRE CBRE Group Inc. Class A | Reduce -51.4% | 0.03% | −0.03 |
| D Dominion Energy Inc. | Reduce -30.4% | 0.05% | −0.03 |
| PEG Public Service Enterprise GP | Reduce -18.0% | 0.08% | −0.03 |
| ARQT Arcutis Biotherapeutics Inc. | Reduce -2.2% | 0.09% | −0.03 |
| FIX Comfort Systems USA Inc. | Reduce -98.2% | 0.00% | −0.03 |
| PHAT Phathom Pharmaceuticals Inc. | Sold out | 0.00% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +1.8% | 8.52% | +1.73 |
| MSFT Microsoft Corp. | Add +9.9% | 6.54% | +1.23 |
| CEG Constellation Energy | Add +40.0% | 1.14% | +0.54 |
| TSM Taiwan Semiconductor-SP ADR | Add +26.7% | 1.62% | +0.51 |
| SHOP Shopify Inc. Class A | Add +118.1% | 0.79% | +0.43 |
| SNOW Snowflake Inc. | Add +20.5% | 1.06% | +0.38 |
| MELI MercadoLibre Inc. | Add +7.0% | 1.91% | +0.34 |
| BA The Boeing Co. | Add +21.5% | 1.57% | +0.33 |
| NOW ServiceNow Inc. | Add +18.1% | 1.45% | +0.33 |
| HUBS HubSpot Inc. | Add +548.6% | 0.26% | +0.21 |
| DIS The Walt Disney Co. | Add +9.4% | 1.52% | +0.21 |
| TOST Toast Inc. Class A | Add +331.0% | 0.23% | +0.18 |
| SE Sea Ltd.-ADR | Add +65.4% | 0.40% | +0.17 |
| TTD Trade Desk Inc./the Class A | Add +17.9% | 0.61% | +0.14 |
| HLT Hilton Worldwide Holdings Inc. | Add +22.4% | 0.73% | +0.13 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +38.1% | 0.34% | +0.12 |
| ISRG Intuitive Surgical Inc. | Add +20.4% | 1.01% | +0.11 |
| GE General Electric | Add +1.9% | 1.06% | +0.10 |
| JCI Johnson Controls Internation | Add +232.3% | 0.13% | +0.10 |
| DXCM Dexcom Inc. | Add +9.4% | 0.60% | +0.09 |
| LPLA LPL Financial Holdings Inc. | Add +46.2% | 0.31% | +0.09 |
| CDNS Cadence Design SYS Inc. | Add +3.0% | 1.71% | +0.09 |
| TXN Texas Instruments Inc. | Add +35.1% | 0.37% | +0.09 |
| VST Vistra Corp. | Add +23.8% | 0.20% | +0.08 |
| MRSH Marsh & McLennan Cos | Add +225.1% | 0.14% | +0.08 |
| APP AppLovin Corp. Class A | Add +4.9% | 0.52% | +0.08 |
| CVS CVS Health Corp. | Add +111.7% | 0.16% | +0.07 |
| BSX Boston Scientific Corp. | Add +127.9% | 0.13% | +0.07 |
| EMBJ Embraer SA-Spon ADR | Add +44.0% | 0.20% | +0.07 |
| MTB M & T Bank Corp. | Add +2024.0% | 0.07% | +0.06 |
| AMGN Amgen Inc. | Add +248.1% | 0.10% | +0.06 |
| GEV GE Vernova Inc. | Add +403.1% | 0.06% | +0.05 |
| GILD Gilead Sciences Inc. | New | 0.04% | +0.04 |
| RBLX Roblox Corp. Class A | New | 0.04% | +0.04 |
| ABT Abbott Laboratories | Add +42.9% | 0.22% | +0.04 |
| IDA Idacorp Inc. | Add +115.3% | 0.09% | +0.04 |
| TMO Thermo Fisher Scientific Inc. | New | 0.04% | +0.04 |
| RACE Ferrari NV | Add +9.1% | 0.54% | +0.03 |
| NRG NRG Energy Inc. | Add +87.2% | 0.05% | +0.03 |
| PAYC Paycom Software Inc. | New | 0.03% | +0.03 |
| LOAR Loar Holdings Inc. | New | 0.03% | +0.03 |
| COR Cencora Inc. | New | 0.03% | +0.03 |
| DUK Duke Energy Corp. | New | 0.03% | +0.03 |
| EW Edwards Lifesciences Corp. | Add +15.7% | 0.54% | +0.03 |
| SHAK Shake Shack Inc. Class A | Add +57.1% | 0.05% | +0.03 |
| LNC Lincoln National Corp. | New | 0.03% | +0.03 |
| SAP Sap SE-Sponsored ADR | Add +195.0% | 0.04% | +0.03 |
| NET Cloudflare Inc. Class A | New | 0.02% | +0.02 |
| GH Guardant Health Inc. | New | 0.02% | +0.02 |
| ELAN Elanco Animal Health Inc. | Add +322.0% | 0.03% | +0.02 |
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 |