JENNISON ASSOCIATES LLC recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Jennison Associates, previously known as Jennison Associates Capital Corp, was created as a growth equity manager of institutional assets, beginning its operations in 1969. In its first few years of operations, the company would begin managing its first endowment, public, and foundation funds, adding teams such as a dedicated fixed income team and balanced and opportunistic equity management teams with expansion. In 1985, the company would become a wholly owned subsidiary of The Prudential Insurance Company of America. The rest of the 1980s would see the firm begin managing its first commingled vehicle, enter sub-advisory market through insurance-related vehicles, and begin expanding its client base outside the United States. In 1990, Jennison Associates began managing mutual funds through its sub-advisory services, managing its first Taft-Hartley account just one year later. The company would continue to expand, adding managed account programs and dedicated teams for global equity and assets as well as integrating some of its parent company’s, now called Prudential Financial, managed public equity strategies into its organization. Today Jennison Associates is focused on “managing portfolios based on internal fundamental research, bottom-up security selection and a highly interactive investment process.” The company’s research is both done in house and externally in order to have the most amount of available information. Utilizing this research, the company employs a variety of opportunistic, market neutral, and blend strategies and invests in diverse markets that include mortgages, pass-through, investment grade fixed income securities, and dividend paying stocks, among others. Jennison Associates is still a wholly owned subsidiary of Prudential Investment Management, a holding company. As of the first quarter of 2015, Jennison has $188 billion in assets management, with almost all of the assets belonging to institutional or sub-advisory markets. Some of the company’s notable mutual funds include its Prudential Jennison Equity Income Fund and Prudential Jennison Rising Dividend Fund.
As of the latest 13F report, the guru’s equity portfolio contained 571 stocks valued at a total of $98.68Bil. The top holdings were AAPL(5.83%), MSFT(5.56%), and LLY(3.87%).
According to GuruFocus data, these were JENNISON ASSOCIATES LLC’s top five trades of the quarter.
Tesla Inc
JENNISON ASSOCIATES LLC reduced their investment in NAS:TSLA by 10,716,437 shares. The trade had a 2.83% impact on the equity portfolio. During the quarter, the stock traded for an average price of $189.34.
On 02/10/2023, Tesla Inc traded for a price of $207.32 per share and a market cap of $655.98Bil. The stock has returned -33.18% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Tesla Inc has a price-earnings ratio of 57.22, a price-book ratio of 14.67, a EV-to-Ebitda ratio of 35.14 and a price-sales ratio of 8.50.
The price-to-GF Value ratio is 0.52, earning the stock a GF Value rank of 4.
Atlassian Corp
The guru sold out of their 7,134,346-share investment in STU:48D. Previously, the stock had a 1.49% weight in the equity portfolio. Shares traded for an average price of €158.25 during the quarter.
On 02/10/2023, Atlassian Corp traded for a price of €164 per share and a market cap of €45.03Bil. The stock has returned -39.77% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Atlassian Corp has a price-book ratio of 77.96, a EV-to-Ebitda ratio of -422.02 and a price-sales ratio of 14.07.
The price-to-GF Value ratio is 0.47, earning the stock a GF Value rank of 4.
NVIDIA Corp
During the quarter, JENNISON ASSOCIATES LLC bought 6,013,647 shares of NAS:NVDA for a total holding of 23,299,291. The trade had a 0.89% impact on the equity portfolio. During the quarter, the stock traded for an average price of $146.65.
On 02/10/2023, NVIDIA Corp traded for a price of $223.37 per share and a market cap of $549.49Bil. The stock has returned -16.20% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, NVIDIA Corp has a price-earnings ratio of 95.05, a price-book ratio of 25.82, a price-earnings-to-growth (PEG) ratio of 2.96, a EV-to-Ebitda ratio of 73.19 and a price-sales ratio of 19.72.
The price-to-GF Value ratio is 0.94, earning the stock a GF Value rank of 7.
Salesforce Inc
JENNISON ASSOCIATES LLC reduced their investment in NYSE:CRM by 6,096,773 shares. The trade had a 0.87% impact on the equity portfolio. During the quarter, the stock traded for an average price of $145.92.
On 02/10/2023, Salesforce Inc traded for a price of $173.66 per share and a market cap of $173.66Bil. The stock has returned -21.90% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Salesforce Inc has a price-earnings ratio of 620.21, a price-book ratio of 2.90, a price-earnings-to-growth (PEG) ratio of 23.23, a EV-to-Ebitda ratio of 41.06 and a price-sales ratio of 5.77.
The price-to-GF Value ratio is 0.61, earning the stock a GF Value rank of 8.
Netflix Inc
During the quarter, JENNISON ASSOCIATES LLC bought 2,898,263 shares of NAS:NFLX for a total holding of 5,499,391. The trade had a 0.86% impact on the equity portfolio. During the quarter, the stock traded for an average price of $280.49.
On 02/10/2023, Netflix Inc traded for a price of $362.5 per share and a market cap of $161.44Bil. The stock has returned -12.21% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Netflix Inc has a price-earnings ratio of 36.43, a price-book ratio of 7.77, a price-earnings-to-growth (PEG) ratio of 1.51, a EV-to-Ebitda ratio of 8.44 and a price-sales ratio of 5.18.
The price-to-GF Value ratio is 0.57, earning the stock a GF Value rank of 8.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
Want to provide feedback on this article? Have questions or concerns? Get in touch with us here, or email us at [email protected]!
This article is general in nature and does not represent the opinions of GuruFocus or any of its affiliates. This article is not intended to be financial advice, nor does it constitute investment advice or recommendations. It was written without regard to your individual situation or financial goals. We aim to bring you fundamental, data-driven analysis, The information on this site is in no way guaranteed for completeness, accuracy or in any other way.
