SEC 13F Intelligence

Managers / Q4 2018 · view latest →

PGGM Investments

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

Reported Value
$17.2B
Q4 2018
Positions
260
Filings on Record
30
2019–present window
Filed
Jan 28, 2019
original filing

Summary

Pggm Investments reported $17.2B in U.S.-listed holdings across 260 positions for Q4 2018.

Its largest position, SPG, represents 3.7% of the portfolio.

Portfolio Metrics

Top-10 Concentration
+23.0%
share of reported value
Largest Position
+3.7%
Simon Ppty Group Inc New Com

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
Common Stock: 54.9%REIT: 41.6%Other: 3.4%ADR: 0.1%
  • Common Stock · 54.9% · $9.5B
  • REIT · 41.6% · $7.2B
  • Other · 3.4% · $577M
  • ADR · 0.1% · $14M

Quarter-over-Quarter Changes full breakdown →

IssuerMoveShare ΔShares nowValue ΔValue now
SPGSIMON PPTY GROUP INC NEW COMNEW+3.75M3.75M+$629M$629M
WELLWELLTOWER INC COMNEW+6.99M6.99M+$485M$485M
PLDPROLOGIS INC COMNEW+7.14M7.14M+$419M$419M
EQREQUITY RESIDENTIAL SH BEN INTNEW+6.01M6.01M+$397M$397M
AVBAVALONBAY CMNTYS INC COMNEW+2.15M2.15M+$373M$373M
AREALEXANDRIA REAL ESTATE EQ IN COMNEW+3.06M3.06M+$353M$353M
DLRDIGITAL RLTY TR INC COMNEW+3.18M3.18M+$339M$339M
BXPBOSTON PROPERTIES INC COMNEW+2.89M2.89M+$326M$326M

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

Holdings — Q4 2018

260 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPGSIMON PPTY GROUP INC NEW COMhistory →COM3.65%$629M3.75M
2WELLWELLTOWER INC COMhistory →COM2.82%$485M6.99M
3PLDPROLOGIS INC COMhistory →COM2.43%$419M7.14M
4EQREQUITY RESIDENTIAL SH BEN INThistory →INT2.30%$397M6.01M
5AVBAVALONBAY CMNTYS INC COMhistory →COM2.17%$373M2.15M
6AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM2.05%$353M3.06M
7DLRDIGITAL RLTY TR INC COMhistory →COM1.97%$339M3.18M
8BXPBOSTON PROPERTIES INC COMhistory →COM1.89%$326M2.89M
9AAPLAPPLE INC COMhistory →COM1.85%$320M2.03M
10PSAPUBLIC STORAGE COMhistory →COM1.83%$316M1.56M
11HSTHOST HOTELS RESORTS INC COMhistory →COM1.80%$310M18.59M
12PFEPFIZER INC COMhistory →COM1.54%$265M6.07M
13ESSESSEX PPTY TR INC COMhistory →COM1.53%$264M1.07M
14KRCKILROY RLTY CORP COMhistory →COM1.49%$257M4.08M
15HCP INC COMCOM1.40%$241M8.62M
16PGPROCTER AND GAMBLE CO COMhistory →COM1.34%$231M2.52M
17JNJJOHNSON JOHNSON COMhistory →COM1.29%$223M1.73M
18UNHUNITEDHEALTH GROUP INC COMhistory →COM1.24%$214M857.5K
19CSCOCISCO SYS INC COMhistory →COM1.23%$212M4.90M
20VICIVICI PPTYS INC COMhistory →COM1.22%$211M11.23M
21UDRUDR INC COMhistory →COM1.20%$207M5.24M
22DISDISNEY WALT CO COM DISNEYhistory →COM1.16%$201M1.83M
23MRKMERCK CO INC COMhistory →COM1.14%$196M2.56M
24HDHOME DEPOT INC COMhistory →COM1.03%$177M1.03M
25AMGNAMGEN INC COMhistory →COM1.01%$174M896.1K
26DUKE REALTY CORP COM NEWCOM1.01%$174M6.73M
27VEREIT INC COMCOM1.01%$174M24.36M
28CMCSACOMCAST CORP NEW CL Ahistory →CLASS A0.94%$162M4.76M
29SHOSUNSTONE HOTEL INVS INC NEW COMhistory →COM0.90%$156M11.98M
30REGREGENCY CTRS CORP COMhistory →COM0.90%$155M2.64M
31FEDERAL REALTY INVT TR SH BEN INT NEWINT0.88%$152M1.29M
32VZVERIZON COMMUNICATIONS INC COMhistory →COM0.87%$150M2.66M
33PEPPEPSICO INC COMhistory →COM0.85%$147M1.33M
34GLPIGAMING LEISURE PPTYS INC COMhistory →COM0.84%$144M4.47M
35OREALTY INCOME CORP COMhistory →COM0.78%$134M2.13M
36IBMINTERNATIONAL BUSINESS MACHS COMhistory →COM0.78%$134M1.18M
37NNNNATIONAL RETAIL PPTYS INC COMhistory →COM0.76%$131M2.71M
38BACBANK AMER CORP COMhistory →COM0.75%$128M5.21M
39KIMKIMCO RLTY CORP COMhistory →COM0.73%$125M8.53M
40TAT T INC COMhistory →COM0.72%$125M4.36M
41JPMJPMORGAN CHASE CO COMhistory →COM0.72%$124M1.27M
42INVHINVITATION HOMES INC COMhistory →COM0.70%$121M6.03M
43WBAWALGREENS BOOTS ALLIANCE INC COMhistory →COM0.67%$115M1.68M
44INTCINTEL CORP COMhistory →COM0.65%$112M2.38M
45TJXTJX COS INC NEW COMhistory →COM0.65%$112M2.50M
46LOWLOWES COS INC COMhistory →COM0.63%$109M1.18M
47VTRVENTAS INC COMhistory →COM0.63%$108M1.84M
48PHYSICIANS RLTY TR COMCOM0.59%$102M6.33M
49GILDGILEAD SCIENCES INC COMhistory →COM0.59%$101M1.62M
50COSTCOSTCO WHSL CORP NEW COMhistory →COM0.58%$100M491.0K
51CBCHUBB LIMITED COMhistory →COM0.53%$91M706.4K
52OHIOMEGA HEALTHCARE INVS INC COMhistory →COM0.53%$91M2.58M
53AFLAFLAC INC COMhistory →COM0.52%$90M1.98M
54KMBKIMBERLY CLARK CORP COMhistory →COM0.51%$88M771.9K
55MSFTMICROSOFT CORP COMhistory →COM0.45%$78M770.0K
56CICIGNA CORP NEW COM ADDEDhistory →COM0.45%$78M411.1K
57DGDOLLAR GEN CORP NEW COMhistory →COM0.45%$78M721.6K
58TRVTRAVELERS COMPANIES INC COMhistory →COM0.45%$77M646.8K
59WMWASTE MGMT INC DEL COMhistory →COM0.45%$77M866.4K
60ALLALLSTATE CORP COMhistory →COM0.45%$77M929.0K
61SUISUN CMNTYS INC COMhistory →COM0.44%$75M742.0K
62ETNEATON CORP PLC SHShistory →SHS0.43%$75M1.09M
63ACNACCENTURE PLC IRELAND SHS CLASS Ahistory →CLASS A0.43%$74M527.9K
64HUDSON PAC PPTYS INC COMCOM0.43%$74M2.54M
65PGRPROGRESSIVE CORP OHIO COMhistory →COM0.42%$72M1.19M
66USBUS BANCORP DEL COM NEWhistory →COM0.42%$72M1.57M
67TGTTARGET CORP COMhistory →COM0.41%$71M1.08M
68HPQHP INC COMhistory →COM0.41%$71M3.45M
69EXREXTRA SPACE STORAGE INC COMhistory →COM0.40%$68M754.0K
70LYBLYONDELLBASELL INDUSTRIES N SHS - A -history →SHS0.39%$68M814.3K
71SYYSYSCO CORP COMhistory →COM0.39%$68M1.08M
72CCITIGROUP INC COM NEWhistory →COM0.39%$68M1.30M
73QTS RLTY TR INC COM CL ACLASS A0.39%$66M1.79M
74ROSTROSS STORES INC COMhistory →COM0.38%$66M790.3K
75MRSHMARSH MCLENNAN COS INC COMhistory →COM0.36%$63M784.4K
76INGERSOLL-RAND PLC SHSSHS0.36%$62M679.6K
77AZOAUTOZONE INC COMhistory →COM0.36%$62M73.9K
78HCAHCA HEALTHCARE INC COMhistory →COM0.35%$60M483.6K
79TXNTEXAS INSTRS INC COMhistory →COM0.34%$59M629.0K
80EBAYEBAY INC COMhistory →COM0.33%$58M2.05M
81MACMACERICH CO COMhistory →COM0.33%$57M1.33M
82PNCPNC FINL SVCS GROUP INC COMhistory →COM0.33%$57M489.3K
83OMCOMNICOM GROUP INC COMhistory →COM0.33%$57M775.2K
84AXPAMERICAN EXPRESS CO COMhistory →COM0.32%$56M585.8K
85CTSHCOGNIZANT TECHNOLOGY SOLUTIO CL Ahistory →CLASS A0.32%$56M877.6K
86EXCEXELON CORP COMhistory →COM0.31%$53M1.19M
87ELVANTHEM INC COMhistory →COM0.30%$52M199.6K
88LLOEWS CORP COMhistory →COM0.29%$51M1.11M
89MDTMEDTRONIC PLC SHShistory →SHS0.29%$51M555.3K
90CUBECUBESMART COMhistory →COM0.29%$50M1.74M
91AEEAMEREN CORP COMhistory →COM0.29%$50M760.2K
92CHDCHURCH DWIGHT INC COMhistory →COM0.29%$50M753.9K
93ANNALY CAP MGMT INC COMCOM0.28%$49M5.00M
94GISGENERAL MLS INC COMhistory →COM0.28%$49M1.26M
95GPCGENUINE PARTS CO COMhistory →COM0.28%$49M506.8K
96TSNTYSON FOODS INC CL Ahistory →CLASS A0.27%$47M880.5K
97CHKPCHECK POINT SOFTWARE TECH LT ORDhistory →ORD0.27%$47M456.4K
98DHRDANAHER CORP DEL COMhistory →COM0.27%$46M450.0K
99HIGHARTFORD FINL SVCS GROUP INC COMhistory →COM0.27%$46M1.04M
100HSYHERSHEY CO COMhistory →COM0.27%$46M431.2K

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 ↗.