SEC 13F Intelligence

Managers / Q1 2019 · view latest →

PGGM Investments

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

Reported Value
$19.6B
Q1 2019
Positions
254
Filings on Record
30
2019–present window
Filed
Apr 12, 2019
original filing

Summary

Pggm Investments reported $19.6B in U.S.-listed holdings across 254 positions for Q1 2019.

Its largest position, SPG, represents 3.5% of the portfolio.

Compared with Q4 2018, the fund opened 13 new positions and exited 19.

Portfolio Metrics

Turnover
+5.5%
vs prior filed quarter
Top-10 Concentration
+22.7%
share of reported value
Largest Position
+3.5%
Simon Ppty Group Inc New Com
New / Exited
13 / 19
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
Common Stock: 54.6%REIT: 42.6%Other: 2.7%ADR: 0.1%
  • Common Stock · 54.6% · $10.7B
  • REIT · 42.6% · $8.3B
  • Other · 2.7% · $535M
  • ADR · 0.1% · $24M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2018 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
RLJRLJ LODGING TR COMNEW+1.72M1.72M+$30M$30M
EXPEEXPEDIA GROUP INC COM NEWNEW+95.0K95.0K+$11M$11M
ORCLORACLE CORP COMNEW+193.9K193.9K+$10M$10M
WFCWELLS FARGO CO NEW COMNEW+130.0K130.0K+$6M$6M
HUMHUMANA INC COMNEW+23.0K23.0K+$6M$6M
HLFHERBALIFE NUTRITION LTD COM SHSNEW+115.1K115.1K+$6M$6M
NVRNVR INC COMNEW+2.0K2.0K+$5M$5M
ELANELANCO ANIMAL HEALTH INC COMNEW+144.3K144.3K+$5M$5M

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

Holdings — Q1 2019

254 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPGSIMON PPTY GROUP INC NEW COMhistory →COM3.50%$686M3.76M
2WELLWELLTOWER INC COMhistory →COM2.71%$532M6.85M
3EQREQUITY RESIDENTIAL SH BEN INThistory →INT2.24%$439M5.82M
4DUKE REALTY CORP COM NEWCOM2.17%$425M13.90M
5AVBAVALONBAY CMNTYS INC COMhistory →COM2.13%$418M2.08M
6KRCKILROY RLTY CORP COMhistory →COM2.05%$402M5.29M
7VICIVICI PPTYS INC COMhistory →COM2.03%$397M18.15M
8AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM1.98%$389M2.73M
9AAPLAPPLE INC COMhistory →COM1.96%$385M2.03M
10DLRDIGITAL RLTY TR INC COMhistory →COM1.89%$371M3.12M
11GLPIGAMING LEISURE PPTYS INC COMhistory →COM1.63%$319M8.28M
12HSTHOST HOTELS RESORTS INC COMhistory →COM1.61%$316M16.72M
13PLDPROLOGIS INC COMhistory →COM1.58%$309M4.29M
14ESSESSEX PPTY TR INC COMhistory →COM1.54%$302M1.04M
15CSCOCISCO SYS INC COMhistory →COM1.35%$264M4.90M
16HCP INC COMCOM1.35%$264M8.45M
17PGPROCTER AND GAMBLE CO COMhistory →COM1.34%$262M2.52M
18JNJJOHNSON JOHNSON COMhistory →COM1.34%$262M1.87M
19PFEPFIZER INC COMhistory →COM1.32%$258M6.07M
20UDRUDR INC COMhistory →COM1.18%$231M5.08M
21PSAPUBLIC STORAGE COMhistory →COM1.14%$223M1.02M
22BXPBOSTON PROPERTIES INC COMhistory →COM1.13%$221M1.65M
23VZVERIZON COMMUNICATIONS INC COMhistory →COM1.11%$218M3.69M
24MRKMERCK CO INC COMhistory →COM1.09%$213M2.56M
25UNHUNITEDHEALTH GROUP INC COMhistory →COM1.08%$212M857.5K
26VEREIT INC COMCOM1.04%$204M24.36M
27DISDISNEY WALT CO COM DISNEYhistory →COM1.04%$203M1.83M
28EXREXTRA SPACE STORAGE INC COMhistory →COM1.03%$201M1.98M
29HDHOME DEPOT INC COMhistory →COM1.01%$198M1.03M
30CMCSACOMCAST CORP NEW CL Ahistory →CLASS A1.00%$196M4.90M
31INTCINTEL CORP COMhistory →COM0.95%$186M3.46M
32SHOSUNSTONE HOTEL INVS INC NEW COMhistory →COM0.92%$180M12.47M
33REGREGENCY CTRS CORP COMhistory →COM0.91%$178M2.64M
34FEDERAL REALTY INVT TR SH BEN INT NEWINT0.91%$178M1.29M
35AMGNAMGEN INC COMhistory →COM0.87%$170M896.1K
36IBMINTERNATIONAL BUSINESS MACHS COMhistory →COM0.85%$166M1.18M
37PEPPEPSICO INC COMhistory →COM0.83%$163M1.33M
38KIMKIMCO RLTY CORP COMhistory →COM0.81%$158M8.53M
39REXRREXFORD INDL RLTY INC COMhistory →COM0.79%$154M4.30M
40CUBECUBESMART COMhistory →COM0.76%$148M4.62M
41BACBANK AMER CORP COMhistory →COM0.73%$144M5.21M
42INVHINVITATION HOMES INC COMhistory →COM0.72%$141M5.80M
43TAT T INC COMhistory →COM0.70%$137M4.36M
44BDNBRANDYWINE RLTY TR SH BEN INT NEWhistory →INT0.69%$134M8.48M
45TJXTJX COS INC NEW COMhistory →COM0.68%$133M2.50M
46LOWLOWES COS INC COMhistory →COM0.66%$129M1.18M
47JPMJPMORGAN CHASE CO COMhistory →COM0.66%$129M1.27M
48COPCONOCOPHILLIPS COMhistory →COM0.63%$123M1.84M
49COSTCOSTCO WHSL CORP NEW COMhistory →COM0.61%$119M491.0K
50PHYSICIANS RLTY TR COMCOM0.60%$117M6.21M
51VTRVENTAS INC COMhistory →COM0.59%$115M1.80M
52GILDGILEAD SCIENCES INC COMhistory →COM0.55%$108M1.67M
53WBAWALGREENS BOOTS ALLIANCE INC COMhistory →COM0.54%$107M1.68M
54AFLAFLAC INC COMhistory →COM0.51%$99M1.98M
55CBCHUBB LIMITED COMhistory →COM0.50%$99M706.4K
56OHIOMEGA HEALTHCARE INVS INC COMhistory →COM0.49%$97M2.53M
57KMBKIMBERLY CLARK CORP COMhistory →COM0.49%$96M771.9K
58ACNACCENTURE PLC IRELAND SHS CLASS Ahistory →CLASS A0.47%$93M527.9K
59WMWASTE MGMT INC DEL COMhistory →COM0.46%$90M866.4K
60TRVTRAVELERS COMPANIES INC COMhistory →COM0.45%$89M646.8K
61ETNEATON CORP PLC SHShistory →SHS0.45%$88M1.09M
62ALLALLSTATE CORP COMhistory →COM0.45%$87M929.0K
63TGTTARGET CORP COMhistory →COM0.44%$86M1.08M
64DGDOLLAR GEN CORP NEW COMhistory →COM0.44%$86M721.6K
65PGRPROGRESSIVE CORP OHIO COMhistory →COM0.44%$86M1.19M
66SUISUN CMNTYS INC COMhistory →COM0.43%$85M717.0K
67CCITIGROUP INC COM NEWhistory →COM0.41%$81M1.30M
68QTS RLTY TR INC COM CL ACLASS A0.40%$79M1.76M
69AZOAUTOZONE INC COMhistory →COM0.40%$78M76.0K
70EBAYEBAY INC COMhistory →COM0.39%$76M2.05M
71USBUS BANCORP DEL COM NEWhistory →COM0.39%$76M1.57M
72HPQHP INC COMhistory →COM0.38%$75M3.85M
73BNYBANK NEW YORK MELLON CORP COMhistory →COM0.38%$74M1.47M
74MRSHMARSH MCLENNAN COS INC COMhistory →COM0.38%$74M784.4K
75ROSTROSS STORES INC COMhistory →COM0.38%$74M790.3K
76INGERSOLL-RAND PLC SHSSHS0.37%$73M679.6K
77SYYSYSCO CORP COMhistory →COM0.37%$72M1.08M
78CMICUMMINS INC COMhistory →COM0.35%$69M439.6K
79LYBLYONDELLBASELL INDUSTRIES N SHS - A -history →SHS0.35%$68M814.3K
80TXNTEXAS INSTRS INC COMhistory →COM0.34%$67M629.0K
81MSFTMICROSOFT CORP COMhistory →COM0.34%$66M561.2K
82CICIGNA CORP NEW COMhistory →COM0.34%$66M411.1K
83GISGENERAL MLS INC COMhistory →COM0.33%$65M1.26M
84CTSHCOGNIZANT TECHNOLOGY SOLUTIO CL Ahistory →CLASS A0.33%$65M897.6K
85AXPAMERICAN EXPRESS CO COMhistory →COM0.33%$64M585.8K
86HCAHCA HEALTHCARE INC COMhistory →COM0.32%$63M483.6K
87TSNTYSON FOODS INC CL Ahistory →CLASS A0.31%$61M880.5K
88NUENUCOR CORP COMhistory →COM0.31%$61M1.04M
89PNCPNC FINL SVCS GROUP INC COMhistory →COM0.31%$60M489.3K
90EXCEXELON CORP COMhistory →COM0.30%$59M1.19M
91HSYHERSHEY CO COMhistory →COM0.30%$58M504.9K
92CHKPCHECK POINT SOFTWARE TECH LT ORDhistory →ORD0.29%$58M456.4K
93ELVANTHEM INC COMhistory →COM0.29%$57M199.6K
94GPCGENUINE PARTS CO COMhistory →COM0.29%$57M506.8K
95OMCOMNICOM GROUP INC COMhistory →COM0.29%$57M775.2K
96TE CONNECTIVITY LTD REG SHSSHS0.28%$54M672.3K
97BBYBEST BUY INC COMhistory →COM0.28%$54M763.7K
98CHDCHURCH DWIGHT INC COMhistory →COM0.27%$54M753.9K
99LLOEWS CORP COMhistory →COM0.27%$53M1.11M
100DHRDANAHER CORPORATION COMhistory →COM0.26%$52M393.0K

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 ↗.