SEC 13F Intelligence

Managers / Q4 2020 · view latest →

PGGM Investments

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

Reported Value
$21.6B
Q4 2020
Positions
356
Filings on Record
30
2019–present window
Filed
Jan 28, 2021
original filing

Summary

Pggm Investments reported $21.6B in U.S.-listed holdings across 356 positions for Q4 2020.

Its largest position, PLD, represents 4.1% of the portfolio.

Compared with Q3 2020, the fund opened 117 new positions and exited 8.

Portfolio Metrics

Turnover
+12.2%
vs prior filed quarter
Top-10 Concentration
+24.2%
share of reported value
Largest Position
+4.1%
Prologis Inc Com
New / Exited
117 / 8
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: 54.2%REIT: 44.0%Other: 1.7%ADR: 0.1%
  • Common Stock · 54.2% · $11.7B
  • REIT · 44.0% · $9.5B
  • Other · 1.7% · $358M
  • ADR · 0.1% · $28M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMZNAMAZON COM INC COMNEW+72.3K72.3K+$235M$235M
AMERICAN CAMPUS CMNTYS INC COMNEW+3.83M3.83M+$164M$164M
LOWLOWES COS INC COMNEW+498.5K498.5K+$80M$80M
COSTCOSTCO WHSL CORP NEW COMNEW+205.0K205.0K+$77M$77M
HEALTHCARE TR AMER INC CL A NEWNEW+2.69M2.69M+$74M$74M
CPTCAMDEN PPTY TR SH BEN INTNEW+676.4K676.4K+$68M$68M
JPMJPMORGAN CHASE CO COMNEW+464.2K464.2K+$59M$59M
TSLATESLA INC COMNEW+79.0K79.0K+$56M$56M

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

Holdings — Q4 2020

356 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PLDPROLOGIS INC. COMhistory →COM4.11%$888M8.91M
2AAPLAPPLE INC COMhistory →COM3.16%$682M5.14M
3DOCHEALTHPEAK PROPERTIES INC COMhistory →COM2.53%$547M18.11M
4VICIVICI PPTYS INC COMhistory →COM2.35%$509M19.95M
5MSFTMICROSOFT CORP COMhistory →COM2.19%$473M2.13M
6NNNNATIONAL RETAIL PROPERTIES I COMhistory →COM2.06%$445M10.88M
7KRCKILROY RLTY CORP COMhistory →COM2.01%$435M7.57M
8WELLWELLTOWER INC COMhistory →COM1.97%$426M6.60M
9AMHAMERICAN HOMES 4 RENT CL Ahistory →CLASS A1.95%$421M14.05M
10REXRREXFORD INDL RLTY INC COMhistory →COM1.91%$412M8.39M
11AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM1.90%$411M2.31M
12AVBAVALONBAY CMNTYS INC COMhistory →COM1.82%$393M2.45M
13SPGSIMON PPTY GROUP INC NEW COMhistory →COM1.75%$378M4.43M
14CUBECUBESMART COMhistory →COM1.72%$371M11.03M
15SUISUN CMNTYS INC COMhistory →COM1.68%$363M2.39M
16HSTHOST HOTELS RESORTS INC COMhistory →COM1.64%$355M24.27M
17EXREXTRA SPACE STORAGE INC COMhistory →COM1.61%$347M3.00M
18DLRDIGITAL RLTY TR INC COMhistory →COM1.46%$316M2.26M
19INVHINVITATION HOMES INC COMhistory →COM1.37%$296M9.98M
20GOOGLALPHABET INC CAP STK CL Ahistory →CLASS A1.32%$285M162.3K
21REGREGENCY CTRS CORP COMhistory →COM1.13%$244M5.34M
22AMZNAMAZON COM INC COMhistory →COM1.09%$235M72.3K
23OHIOMEGA HEALTHCARE INVS INC COMhistory →COM1.00%$215M5.92M
24TRNOTERRENO RLTY CORP COMhistory →COM0.99%$213M3.65M
25HDHOME DEPOT INC COMhistory →COM0.92%$198M744.8K
26FEDERAL RLTY INVT TR SH BEN INT NEWINT0.90%$195M2.29M
27HUDSON PAC PPTYS INC COMCOM0.88%$191M7.96M
28OREALTY INCOME CORP COMhistory →COM0.88%$191M3.07M
29METAFACEBOOK INC CL Ahistory →CLASS A0.88%$191M697.7K
30JNJJOHNSON JOHNSON COMhistory →COM0.86%$187M1.19M
31QTS RLTY TR INC COM CL ACLASS A0.86%$185M2.99M
32CYRUSONE INC COMCOM0.81%$176M2.40M
33VZVERIZON COMMUNICATIONS INC COMhistory →COM0.80%$173M2.94M
34TMOTHERMO FISHER SCIENTIFIC INC COMhistory →COM0.80%$173M370.5K
35AMERICAN CAMPUS CMNTYS INC COMCOM0.76%$164M3.83M
36EQREQUITY RESIDENTIAL SH BEN INThistory →INT0.72%$156M2.63M
37DELLDELL TECHNOLOGIES INC CL Chistory →CLASS C0.69%$149M2.03M
38PGPROCTER AND GAMBLE CO COMhistory →COM0.64%$138M991.8K
39UNHUNITEDHEALTH GROUP INC COMhistory →COM0.62%$135M384.3K
40MRKMERCK CO. INC COMhistory →COM0.61%$133M1.62M
41MDTMEDTRONIC PLC SHShistory →SHS0.61%$131M1.12M
42SL GREEN RLTY CORP COMCOM0.54%$117M1.96M
43ACNACCENTURE PLC IRELAND SHS CLASS Ahistory →CLASS A0.49%$106M407.7K
44ABTABBOTT LABS COMhistory →COM0.46%$100M916.6K
45PEPPEPSICO INC COMhistory →COM0.45%$98M659.1K
46TAT T INC COMhistory →COM0.45%$96M3.35M
47QCOMQUALCOMM INC COMhistory →COM0.44%$96M630.5K
48INTCINTEL CORP COMhistory →COM0.44%$95M1.91M
49TXNTEXAS INSTRS INC COMhistory →COM0.44%$95M577.2K
50ORCLORACLE CORP COMhistory →COM0.43%$93M1.44M
51ADBEADOBE SYSTEMS INCORPORATED COMhistory →COM0.41%$89M177.5K
52VVISA INC COM CL Ahistory →CLASS A0.41%$88M401.2K
53EXPDEXPEDITORS INTL WASH INC COMhistory →COM0.39%$85M891.8K
54OCOWENS CORNING NEW COMhistory →COM0.38%$83M1.10M
55TGTTARGET CORP COMhistory →COM0.38%$81M459.1K
56LOWLOWES COS INC COMhistory →COM0.37%$80M498.5K
57CHTRCHARTER COMMUNICATIONS INC N CL Ahistory →CLASS A0.37%$79M120.1K
58CSCOCISCO SYS INC COMhistory →COM0.36%$78M1.75M
59COSTCOSTCO WHSL CORP NEW COMhistory →COM0.36%$77M205.0K
60LLYLILLY ELI CO COMhistory →COM0.35%$76M451.9K
61CLCOLGATE PALMOLIVE CO COMhistory →COM0.35%$76M891.2K
62HEALTHCARE TR AMER INC CL A NEWCLASS A0.34%$74M2.69M
63MAMASTERCARD INCORPORATED CL Ahistory →CLASS A0.34%$73M204.2K
64MDLZMONDELEZ INTL INC CL Ahistory →CLASS A0.33%$72M1.23M
65ITWILLINOIS TOOL WKS INC COMhistory →COM0.32%$68M335.3K
66AWKAMERICAN WTR WKS CO INC NEW COMhistory →COM0.32%$68M445.1K
67CMICUMMINS INC COMhistory →COM0.32%$68M300.7K
68CPTCAMDEN PPTY TR SH BEN INThistory →INT0.31%$68M676.4K
69DHRDANAHER CORPORATION COMhistory →COM0.30%$66M295.0K
70AMGNAMGEN INC COMhistory →COM0.30%$65M284.6K
71ETNEATON CORP PLC SHShistory →SHS0.30%$65M541.1K
72ADPAUTOMATIC DATA PROCESSING IN COMhistory →COM0.29%$63M355.1K
73SPGIS P GLOBAL INC COMhistory →COM0.29%$62M188.2K
74TROWPRICE T ROWE GROUP INC COMhistory →COM0.28%$61M406.1K
75SFMSPROUTS FMRS MKT INC COMhistory →COM0.28%$61M3.05M
76BMYBRISTOL-MYERS SQUIBB CO COMhistory →COM0.28%$61M980.5K
77UPSUNITED PARCEL SERVICE INC CL Bhistory →CLASS B0.28%$61M361.0K
78JPMJPMORGAN CHASE CO COMhistory →COM0.27%$59M464.2K
79ABBVABBVIE INC COMhistory →COM0.27%$59M549.0K
80HPQHP INC COMhistory →COM0.26%$57M2.32M
81ORLYOREILLY AUTOMOTIVE INC COMhistory →COM0.26%$57M126.0K
82CDNSCADENCE DESIGN SYSTEM INC COMhistory →COM0.26%$56M413.1K
83HUMHUMANA INC COMhistory →COM0.26%$56M136.9K
84CTSHCOGNIZANT TECHNOLOGY SOLUTIO CL Ahistory →CLASS A0.26%$56M684.3K
85ITRIITRON INC COMhistory →COM0.26%$56M584.5K
86TSLATESLA INC COMhistory →COM0.26%$56M79.0K
87BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEWhistory →CLASS B0.26%$56M240.6K
88WMWASTE MGMT INC DEL COMhistory →COM0.25%$55M466.2K
89UNPUNION PAC CORP COMhistory →COM0.25%$55M263.0K
90AZOAUTOZONE INC COMhistory →COM0.25%$55M46.1K
91MMM3M CO COMhistory →COM0.25%$54M307.9K
92KLACKLA CORP COM NEWhistory →COM0.25%$54M206.8K
93BBYBEST BUY INC COMhistory →COM0.25%$53M533.6K
94MCKMCKESSON CORP COMhistory →COM0.25%$53M304.6K
95MASMASCO CORP COMhistory →COM0.24%$53M957.5K
96AONAON PLC SHS CL Ahistory →CLASS A0.24%$51M242.1K
97ALLALLSTATE CORP COMhistory →COM0.24%$51M463.8K
98AAGILENT TECHNOLOGIES INC COMhistory →COM0.23%$50M424.5K
99PSAPUBLIC STORAGE COMhistory →COM0.23%$50M216.7K
100EMREMERSON ELEC CO COMhistory →COM0.23%$50M617.9K

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 ↗.