SEC 13F Intelligence

Managers / Q1 2026

PGGM Investments

CIK 0001472190 · PO BOX 117, ZEIST, P7, 3700 AC · 0031302779479

Reported Value
$5.7B
Q1 2026
Positions
67
Filings on Record
30
2019–present window
Filed
May 15, 2026
original filing

Summary

Pggm Investments reported $5.7B in U.S.-listed holdings across 67 positions for Q1 2026.

Its largest position, WELL, represents 6.1% of the portfolio.

Compared with Q4 2025, the fund opened 4 new positions and exited 3.

Portfolio Metrics

Turnover
+5.5%
vs prior filed quarter
Top-10 Concentration
+35.5%
share of reported value
Largest Position
+6.1%
Welltower Inc Com
New / Exited
4 / 3
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $17.2BQ4 ’18Q1 ’19: $19.6BQ2 ’19: $19.9BQ3 ’19: $21.0BQ4 ’19: $17.7BQ4 ’19Q1 ’20: $13.9BQ2 ’20: $17.3BQ3 ’20: $19.1BQ4 ’20: $21.6BQ4 ’20Q1 ’21: $23.1BQ2 ’21: $23.6BQ3 ’21: $19.4BQ4 ’21: $20.1BQ4 ’21Q1 ’22: $20.1BQ3 ’22: $5.7BQ4 ’22: $5.7BQ1 ’23: $5.9BQ1 ’23Q2 ’23: $6.2BQ3 ’23: $5.8BQ4 ’23: $6.6BQ1 ’24: $6.9BQ1 ’24Q2 ’24: $7.0BQ3 ’24: $7.8BQ4 ’24: $7.5BQ1 ’25: $7.4BQ1 ’25Q2 ’25: $5.8BQ3 ’25: $6.2BQ4 ’25: $6.3BQ1 ’26: $5.7BQ1 ’26filingsflow.com

Portfolio Composition

By security type
REIT: 50.4%Common Stock: 46.6%ADR: 2.8%Other: 0.3%
  • REIT · 50.4% · $2.9B
  • Common Stock · 46.6% · $2.7B
  • ADR · 2.8% · $159M
  • Other · 0.3% · $15M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AZNASTRAZENECA PLCNEW+645.5K645.5K+$95M$95M
VLTOVERALTO CORP COM SHSNEW+701.9K701.9K+$62M$62M
AMHAMERICAN HOMES 4 RENT CL ANEW+1.68M1.68M+$47M$47M
CUZCOUSINS PPTYS INC COM NEWNEW+1.37M1.37M+$31M$31M
JCIJOHNSON CTLS INTL PLC SHSSOLD OUT−186.7K0−$22M$0
TTTRANE TECHNOLOGIES PLC SHSSOLD OUT−55.5K0−$22M$0
HAINHAIN CELESTIAL GROUP INC COMSOLD OUT−189.7K0−$203,000$0
ADECOAGRO S A COMTRIMMED−3.02M1.03M−$17M$15M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

67 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1WELLWELLTOWER INC COMhistory →COM6.07%$346M1.75M
2PLDPROLOGIS INC. COMhistory →COM5.29%$302M2.28M
3EQIXEQUINIX INC COMhistory →COM5.24%$299M305.1K
4ALBALBEMARLE CORP COMhistory →COM2.86%$163M909.2K
5EXREXTRA SPACE STORAGE INC COMhistory →COM2.75%$157M1.20M
6GOOGLALPHABET INC CAP STK CL Ahistory →CLASS A2.74%$156M544.0K
7MSFTMICROSOFT CORP COMhistory →COM2.73%$156M421.0K
8TMOTHERMO FISHER SCIENTIFIC INC COMhistory →COM2.66%$152M309.2K
9LINLINDE PLC SHShistory →COM2.64%$151M304.1K
10IRMIRON MTN INC DEL COMhistory →COM2.45%$140M1.37M
11RUNSUNRUN INC COMhistory →COM2.27%$129M9.55M
12NVDANVIDIA CORPORATION COMhistory →COM2.22%$127M726.2K
13ILMNILLUMINA INC COMhistory →COM2.14%$122M990.5K
14AVBAVALONBAY CMNTYS INC COMhistory →COM2.13%$121M743.5K
15LLYELI LILLY CO COMhistory →COM2.13%$121M131.8K
16SPGSIMON PPTY GROUP INC NEW COMhistory →COM2.09%$119M638.1K
17UDRUDR INC COMhistory →COM2.05%$117M3.47M
18NEENEXTERA ENERGY INC COMhistory →COM1.92%$110M1.18M
19HDBHDFC BANK LTD SPONSORED ADShistory →ADS1.86%$106M4.28M
20HRHEALTHCARE RLTY TR CL A COMhistory →COM1.67%$95M5.61M
21AZNASTRAZENECA PLChistory →ORD1.66%$95M645.5K
22AAPLAPPLE INC COMhistory →COM1.59%$91M357.9K
23DOCHEALTHPEAK PROPERTIES INC COMhistory →COM1.55%$88M5.38M
24BRXBRIXMOR PPTY GROUP INC COMhistory →COM1.55%$88M3.06M
25VTRVENTAS INC COMhistory →COM1.53%$88M1.07M
26FRTFEDERAL RLTY INVT TR NEW SH BEN INT NEWhistory →INT1.51%$86M812.3K
27ABTABBOTT LABORATORIES COMhistory →COM1.46%$83M810.1K
28MDTMEDTRONIC PLC SHShistory →COM1.38%$79M910.3K
29WCNWASTE CONNECTIONS INC COMhistory →COM1.29%$74M454.3K
30AVGOBROADCOM INC COMhistory →COM1.28%$73M235.7K
31REGNREGENERON PHARMACEUTICALS COMhistory →COM1.25%$72M92.6K
32ADCAGREE RLTY CORP COMhistory →COM1.23%$70M932.6K
33EPRTESSENTIAL PPTYS RLTY TR INC COMhistory →COM1.22%$70M2.30M
34INVHINVITATION HOMES INC COMhistory →COM1.20%$69M2.76M
35FRFIRST INDL RLTY TR INC COMhistory →COM1.15%$66M1.14M
36DLRDIGITAL RLTY TR INC COMhistory →COM1.15%$66M364.3K
37IQVIQVIA HLDGS INC COMhistory →COM1.12%$64M374.8K
38MACMACERICH CO COMhistory →COM1.12%$64M3.37M
39VLTOVERALTO CORP COM SHShistory →COM1.09%$62M701.9K
40VVISA INC COM CL Ahistory →Class A1.07%$61M201.2K
41RHPRYMAN HOSPITALITY PPTYS INC COMhistory →COM1.07%$61M658.4K
42ADMARCHER DANIELS MIDLAND CO COMhistory →COM1.06%$60M830.2K
43SNPSSYNOPSYS INC COMhistory →COM0.98%$56M140.7K
44ELSEQUITY LIFESTYLE PROPERTIES COMhistory →COM0.96%$55M875.9K
45CTVACORTEVA INC COMhistory →COM0.94%$54M641.0K
46ARGXARGENX SE SPONSORED ADRhistory →ADR0.92%$52M71.5K
47PGPROCTER GAMBLE CO COMhistory →COM0.85%$49M336.4K
48AMHAMERICAN HOMES 4 RENT CL Ahistory →CLASS A0.82%$47M1.68M
49COLDAMERICOLD REALTY TRUST INC COMhistory →COM0.78%$44M3.87M
50CDNSCADENCE DESIGN SYSTEM INC COMhistory →COM0.77%$44M158.3K
51ROPROPER TECHNOLOGIES INC COMhistory →COM0.75%$43M120.5K
52KRCKILROY REALTY CORP COMhistory →COM0.74%$42M1.49M
53TTEKTETRA TECH INC NEW COMhistory →COM0.66%$38M1.25M
54MKCMCCORMICK CO INC COM NON VTGhistory →COM0.66%$38M746.6K
55AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM0.61%$35M743.5K
56SEDGSOLAREDGE TECHNOLOGIES INC COMhistory →COM0.59%$33M653.8K
57CUZCOUSINS PPTYS INC COM NEWhistory →COM0.54%$31M1.37M
58PSAPUBLIC STORAGE OPER CO COMhistory →COM0.54%$31M114.0K
59CUBECUBESMART COMhistory →COM0.51%$29M791.4K
60ISRGINTUITIVE SURGICAL INC COM NEWhistory →COM0.50%$29M62.3K
61REXRREXFORD INDL RLTY INC COMhistory →COM0.47%$27M823.7K
62WMSADVANCED DRAIN SYS INC DEL COMhistory →COM0.46%$26M190.3K
63CNMCORE MAIN INC CL Ahistory →CLASS A0.40%$23M467.4K
64HSTHOST HOTELS RESORTS INC COMhistory →COM0.35%$20M1.03M
65APTVAPTIV PLC COM SHShistory →COM0.27%$16M223.4K
66ADECOAGRO S A COMCOM0.27%$15M1.03M
67UBERUBER TECHNOLOGIES INC COMhistory →COM0.18%$10M144.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$5.7B67May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$6.3B66Feb 9, 202613F-HRchanges · EDGAR ↗
Q3 2025$6.2B66Oct 28, 202513F-HRchanges · EDGAR ↗
Q2 2025$5.8B68Jul 18, 202513F-HRchanges · EDGAR ↗
Q1 2025$7.4B347May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$7.5B345Feb 10, 202513F-HRchanges · EDGAR ↗
Q3 2024$7.8B348Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$7.0B344Jul 16, 202413F-HRchanges · EDGAR ↗
Q1 2024$6.9B365May 24, 202413F-HRchanges · EDGAR ↗
Q4 2023$6.6B351Feb 5, 202413F-HRchanges · EDGAR ↗
Q3 2023$5.8B346Nov 8, 202313F-HRchanges · EDGAR ↗
Q2 2023$6.2B359Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$5.9B387May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022$5.7B378Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$5.7B382Nov 10, 2022RESTATEMENTchanges · EDGAR ↗
Q1 2022$20.1B366Apr 25, 202213F-HRchanges · EDGAR ↗
Q4 2021$20.1B366Jan 28, 202213F-HRchanges · EDGAR ↗
Q3 2021$19.4B366Oct 22, 202113F-HRchanges · EDGAR ↗
Q2 2021$23.6B434Jul 22, 202113F-HRchanges · EDGAR ↗
Q1 2021$23.1B369Apr 30, 202113F-HRchanges · EDGAR ↗
Q4 2020$21.6B356Jan 28, 202113F-HRchanges · EDGAR ↗
Q3 2020$19.1B247Oct 20, 202013F-HRchanges · EDGAR ↗
Q2 2020$17.3B256Jul 17, 202013F-HRchanges · EDGAR ↗
Q1 2020$13.9B233Apr 20, 202013F-HRchanges · EDGAR ↗
Q4 2019$17.7B248Jan 17, 202013F-HRchanges · EDGAR ↗
Q3 2019$21.0B244Oct 16, 201913F-HRchanges · EDGAR ↗
Q2 2019$19.9B244Jul 26, 201913F-HRchanges · EDGAR ↗
Q1 2019$19.6B254Apr 12, 201913F-HRchanges · EDGAR ↗
Q4 2018$17.2B260Jan 28, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.