JENNISON ASSOCIATES LLC recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
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 613 stocks valued at a total of $100.19Bil. The top holdings were AAPL(6.69%), TSLA(6.62%), and MSFT(5.94%).
According to GuruFocus data, these were JENNISON ASSOCIATES LLC’s top five trades of the quarter.
Shopify Inc
JENNISON ASSOCIATES LLC reduced their investment in NYSE:SHOP by 1,824,029 shares. The trade had a 1.59% impact on the equity portfolio. During the quarter, the stock traded for an average price of $82.11.
On 08/02/2022, Shopify Inc traded for a price of $38.0991 per share and a market cap of $48.79Bil. The stock has returned -75.00% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Shopify Inc has a price-book ratio of 5.42, a EV-to-Ebitda ratio of -21.62 and a price-sales ratio of 9.49.
The price-to-GF Value ratio is 0.21, earning the stock a GF Value rank of 2.
NVIDIA Corp
JENNISON ASSOCIATES LLC reduced their investment in NAS:NVDA by 7,037,626 shares. The trade had a 1.31% impact on the equity portfolio. During the quarter, the stock traded for an average price of $251.13.
On 08/02/2022, NVIDIA Corp traded for a price of $184.98 per share and a market cap of $470.48Bil. The stock has returned -4.63% 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 50.44, a price-book ratio of 17.90, a price-earnings-to-growth (PEG) ratio of 1.57, a EV-to-Ebitda ratio of 41.30 and a price-sales ratio of 16.17.
The price-to-GF Value ratio is 0.70, earning the stock a GF Value rank of 8.
Sea Ltd
JENNISON ASSOCIATES LLC reduced their investment in NYSE:SE by 8,138,730 shares. The trade had a 1.16% impact on the equity portfolio. During the quarter, the stock traded for an average price of $141.27.
On 08/02/2022, Sea Ltd traded for a price of $79.0486 per share and a market cap of $44.89Bil. The stock has returned -71.59% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, Sea Ltd has a price-book ratio of 7.13, a EV-to-Ebitda ratio of -23.89 and a price-sales ratio of 3.94.
The price-to-GF Value ratio is 0.23, earning the stock a GF Value rank of 2.
Block Inc
JENNISON ASSOCIATES LLC reduced their investment in NYSE:SQ by 9,971,425 shares. The trade had a 1.02% impact on the equity portfolio. During the quarter, the stock traded for an average price of $120.9.
On 08/02/2022, Block Inc traded for a price of $79.38 per share and a market cap of $46.53Bil. The stock has returned -70.57% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Block Inc has a price-book ratio of 2.65, a EV-to-Ebitda ratio of 327.39 and a price-sales ratio of 2.44.
The price-to-GF Value ratio is 0.31, earning the stock a GF Value rank of 2.
PayPal Holdings Inc
JENNISON ASSOCIATES LLC reduced their investment in NAS:PYPL by 6,486,486 shares. The trade had a 0.78% impact on the equity portfolio. During the quarter, the stock traded for an average price of $133.33.
On 08/02/2022, PayPal Holdings Inc traded for a price of $89.125 per share and a market cap of $104.63Bil. The stock has returned -66.66% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, PayPal Holdings Inc has a price-earnings ratio of 29.86, a price-book ratio of 5.10, a price-earnings-to-growth (PEG) ratio of 0.28, a EV-to-Ebitda ratio of 19.71 and a price-sales ratio of 4.14.
The price-to-GF Value ratio is 0.26, earning the stock a GF Value rank of 2.
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.
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