SEC 13F Intelligence

Managers / Q4 2021 · view latest →

PGGM Investments

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

Reported Value
$20.1B
Q4 2021
Positions
366
Filings on Record
30
2019–present window
Filed
Jan 28, 2022
original filing

Summary

Pggm Investments reported $20.1B in U.S.-listed holdings across 366 positions for Q4 2021.

Its largest position, MSFT, represents 3.6% of the portfolio.

Compared with Q3 2021, the fund opened 30 new positions and exited 30.

Portfolio Metrics

Turnover
+13.3%
vs prior filed quarter
Top-10 Concentration
+26.8%
share of reported value
Largest Position
+3.6%
Microsoft Corp Com
New / Exited
30 / 30
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: 54.4%REIT: 43.8%Other: 1.7%ADR: 0.1%
  • Common Stock · 54.4% · $10.9B
  • REIT · 43.8% · $8.8B
  • Other · 1.7% · $335M
  • ADR · 0.1% · $24M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CVXCHEVRON CORP NEW COMNEW+507.7K507.7K+$60M$60M
NVDANVIDIA CORPORATION COMNEW+117.4K117.4K+$35M$35M
KMIKINDER MORGAN INC DEL COMNEW+1.80M1.80M+$29M$29M
WMBWILLIAMS COS INC COMNEW+795.8K795.8K+$21M$21M
DVNDEVON ENERGY CORP NEW COMNEW+420.3K420.3K+$19M$19M
EOGEOG RES INC COMNEW+206.7K206.7K+$18M$18M
CANADIAN PAC RY LTD COMNEW+198.7K198.7K+$14M$14M
TSLATESLA INC COMNEW+11.9K11.9K+$13M$13M

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

Holdings — Q4 2021

366 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORP COMhistory →COM3.59%$721M2.14M
2AAPLAPPLE INC COMhistory →COM3.16%$634M3.57M
3EQIXEQUINIX INC COMhistory →COM3.14%$631M745.7K
4PLDPROLOGIS INC. COMhistory →COM2.86%$574M3.41M
5AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM2.68%$538M2.41M
6MAAMID-AMER APT CMNTYS INC COMhistory →COM2.64%$531M2.31M
7INVHINVITATION HOMES INC COMhistory →COM2.42%$487M10.73M
8UDRUDR INC COMhistory →COM2.11%$424M7.07M
9GOOGLALPHABET INC CAP STK CL Ahistory →CLASS A2.11%$423M146.1K
10DOCHEALTHPEAK PROPERTIES INC COMhistory →COM2.10%$422M11.68M
11WELLWELLTOWER INC COMhistory →COM2.06%$413M4.82M
12VICIVICI PPTYS INC COMhistory →COM2.05%$412M13.67M
13SPGSIMON PPTY GROUP INC NEW COMhistory →COM1.98%$397M2.49M
14REXRREXFORD INDL RLTY INC COMhistory →COM1.92%$385M4.75M
15CUBECUBESMART COMhistory →COM1.83%$367M6.45M
16AMHAMERICAN HOMES 4 RENT CL Ahistory →CLASS A1.83%$367M8.42M
17DLRDIGITAL RLTY TR INC COMhistory →COM1.72%$345M1.95M
18COLDAMERICOLD RLTY TR COMhistory →COM1.68%$337M10.26M
19PKPARK HOTELS RESORTS INC COMhistory →COM1.29%$260M13.78M
20REGREGENCY CTRS CORP COMhistory →COM1.29%$259M3.44M
21NNNNATIONAL RETAIL PROPERTIES I COMhistory →COM1.25%$251M5.23M
22TMOTHERMO FISHER SCIENTIFIC INC COMhistory →COM0.95%$191M286.7K
23LIFE STORAGE INC COMCOM0.93%$187M1.22M
24AMZNAMAZON COM INC COMhistory →COM0.93%$186M55.9K
25HUDSON PAC PPTYS INC COMCOM0.92%$185M7.49M
26TRNOTERRENO RLTY CORP COMhistory →COM0.89%$179M2.10M
27EXREXTRA SPACE STORAGE INC COMhistory →COM0.89%$178M785.2K
28KIMKIMCO RLTY CORP COMhistory →COM0.88%$176M7.15M
29EPRTESSENTIAL PPTYS RLTY TR INC COMhistory →COM0.81%$162M5.62M
30PSAPUBLIC STORAGE COMhistory →COM0.78%$156M417.3K
31HDHOME DEPOT INC COMhistory →COM0.70%$142M341.1K
32ACNACCENTURE PLC IRELAND SHS CLASS Ahistory →CLASS A0.67%$134M323.4K
33SL GREEN RLTY CORP COMCOM0.63%$127M1.77M
34TXNTEXAS INSTRS INC COMhistory →COM0.60%$120M637.7K
35MCDMCDONALDS CORP COMhistory →COM0.60%$120M447.5K
36SPGIS P GLOBAL INC COMhistory →COM0.55%$111M235.5K
37YUMYUM BRANDS INC COMhistory →COM0.54%$109M785.9K
38ORLYOREILLY AUTOMOTIVE INC COMhistory →COM0.53%$106M150.5K
39ABBVABBVIE INC COMhistory →COM0.49%$98M720.9K
40LOWLOWES COS INC COMhistory →COM0.48%$97M376.1K
41SFMSPROUTS FMRS MKT INC COMhistory →COM0.47%$94M3.18M
42EXPDEXPEDITORS INTL WASH INC COMhistory →COM0.47%$94M700.7K
43PGPROCTER AND GAMBLE CO COMhistory →COM0.47%$94M572.1K
44QCOMQUALCOMM INC COMhistory →COM0.46%$93M509.5K
45UNHUNITEDHEALTH GROUP INC COMhistory →COM0.46%$92M183.6K
46METAMETA PLATFORMS INC CL Ahistory →CLASS A0.44%$89M263.8K
47AZOAUTOZONE INC COMhistory →COM0.43%$86M41.1K
48ABTABBOTT LABS COMhistory →COM0.42%$85M605.7K
49OCOWENS CORNING NEW COMhistory →COM0.40%$81M892.2K
50ADPAUTOMATIC DATA PROCESSING IN COMhistory →COM0.39%$78M314.3K
51CSCOCISCO SYS INC COMhistory →COM0.38%$77M1.22M
52SHWSHERWIN WILLIAMS CO COMhistory →COM0.38%$76M215.6K
53ADBEADOBE SYSTEMS INCORPORATED COMhistory →COM0.38%$76M133.1K
54STORE CAP CORP COMCOM0.38%$75M2.19M
55ITWILLINOIS TOOL WKS INC COMhistory →CLASS A0.37%$74M301.6K
56MCKMCKESSON CORP COMhistory →COM0.36%$72M291.7K
57MDTMEDTRONIC PLC SHShistory →SHS0.36%$72M694.0K
58AMDADVANCED MICRO DEVICES INC COMhistory →COM0.36%$71M496.7K
59ORCLORACLE CORP COMhistory →COM0.34%$69M793.8K
60GILDGILEAD SCIENCES INC COMhistory →COM0.34%$68M931.0K
61UPSUNITED PARCEL SERVICE INC CL Bhistory →CLASS B0.34%$68M315.0K
62JPMJPMORGAN CHASE CO COMhistory →COM0.33%$66M416.7K
63AAGILENT TECHNOLOGIES INC COMhistory →COM0.32%$65M408.8K
64MSIMOTOROLA SOLUTIONS INC COM NEWhistory →COM0.32%$65M240.1K
65INTCINTEL CORP COMhistory →COM0.32%$65M1.25M
66MTDMETTLER TOLEDO INTERNATIONAL COMhistory →COM0.32%$64M37.7K
67PAYXPAYCHEX INC COMhistory →COM0.31%$63M461.0K
68DGXQUEST DIAGNOSTICS INC COMhistory →COM0.31%$63M361.4K
69FASTFASTENAL CO COMhistory →COM0.31%$62M964.5K
70WATWATERS CORP COMhistory →COM0.30%$61M163.2K
71CLCOLGATE PALMOLIVE CO COMhistory →COM0.30%$60M706.6K
72TROWPRICE T ROWE GROUP INC COMhistory →COM0.30%$60M305.5K
73ZTSZOETIS INC CL Ahistory →CLASS A0.30%$60M245.7K
74CVXCHEVRON CORP NEW COMhistory →COM0.30%$60M507.7K
75KEYSKEYSIGHT TECHNOLOGIES INC COMhistory →COM0.29%$59M284.1K
76HSYHERSHEY CO COMhistory →COM0.29%$58M298.8K
77GWWGRAINGER W W INC COMhistory →COM0.29%$57M110.7K
78UNPUNION PAC CORP COMhistory →COM0.29%$57M227.6K
79ITRIITRON INC COMhistory →COM0.28%$57M825.5K
80BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEWhistory →CLASS B0.28%$56M186.1K
81MRKMERCK CO INC COMhistory →COM0.27%$55M716.6K
82DOVDOVER CORP COMhistory →COM0.27%$55M301.4K
83LLYLILLY ELI CO COMhistory →COM0.27%$54M196.8K
84CTVACORTEVA INC COMhistory →COM0.27%$53M1.13M
85CDWCDW CORP COMhistory →COM0.26%$53M258.7K
86PEPPEPSICO INC COMhistory →COM0.25%$51M291.5K
87MDLZMONDELEZ INTL INC CL Ahistory →CLASS A0.25%$50M760.7K
88FMCFMC CORP COM NEWhistory →COM0.25%$50M452.0K
89JCIJOHNSON CTLS INTL PLC SHShistory →SHS0.25%$50M610.4K
90MASMASCO CORP COMhistory →COM0.25%$50M706.5K
91HEALTHCARE TR AMER INC CL A NEWCLASS A0.25%$49M1.48M
92OTISOTIS WORLDWIDE CORP COMhistory →COM0.25%$49M566.0K
93AFLAFLAC INC COMhistory →COM0.24%$49M840.6K
94CTSHCOGNIZANT TECHNOLOGY SOLUTIO CL Ahistory →CLASS A0.24%$49M552.8K
95DPZDOMINOS PIZZA INC COMhistory →COM0.24%$48M85.2K
96WMWASTE MGMT INC DEL COMhistory →COM0.24%$48M286.0K
97ARWARROW ELECTRS INC COMhistory →COM0.23%$47M348.8K
98VRSNVERISIGN INC COMhistory →COM0.23%$46M183.0K
99AVYAVERY DENNISON CORP COMhistory →COM0.23%$46M213.5K
100CHTRCHARTER COMMUNICATIONS INC N CL Ahistory →CLASS A0.23%$46M70.9K

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 ↗.