A secretive asset manager had $36 billion riding on just 5 tech stocks including Tesla and Nvidia at the end of June

• A low-profile asset manager has been a major winner from the Big Tech stock rally this year.
• Jennison Associates’ stakes in Tesla, Nvidia, Microsoft, Apple, and Amazon have soared in value.
• It held $36 billion worth of those five stocks at the end of June, up from $21 billion in December.

A secretive asset manager has emerged as a massive winner from the breathless rally in Big Tech stocks this year.

Jennison Associates held a combined $36 billion of Nvidia, Tesla, Microsoft, Apple, and Amazon shares at the end of June, Securities and Exchange Commission filings showed. Its stakes in those five companies were worth just under $21 billion in total at the end of December, meaning it’s seen a $15 billion change in six months.