SEC 13F Intelligence

Managers / Q4 2022 · view latest →

PGGM Investments

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

Reported Value
$5.7B
Q4 2022
Positions
378
Filings on Record
29
2019–present window
Filed
Feb 13, 2023
original filing

Summary

Pggm Investments reported $5.7B in U.S.-listed holdings across 378 positions for Q4 2022.

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

Compared with Q3 2022, the fund opened 19 new positions and exited 23.

Portfolio Metrics

Turnover
+14.8%
vs prior filed quarter
Top-10 Concentration
+25.3%
share of reported value
Largest Position
+3.7%
Prologis Inc Com
New / Exited
19 / 23
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
Q1 ’19: $19.6BQ1 ’19Q2 ’19: $19.9BQ3 ’19: $21.0BQ4 ’19: $17.7BQ1 ’20: $13.9BQ1 ’20Q2 ’20: $17.3BQ3 ’20: $19.1BQ4 ’20: $21.6BQ1 ’21: $23.1BQ1 ’21Q2 ’21: $23.6BQ3 ’21: $19.4BQ4 ’21: $20.1BQ1 ’22: $20.1BQ1 ’22Q3 ’22: $5.7BQ4 ’22: $5.7BQ1 ’23: $5.9BQ2 ’23: $6.2BQ2 ’23Q3 ’23: $5.8BQ4 ’23: $6.6BQ1 ’24: $6.9BQ2 ’24: $7.0BQ2 ’24Q3 ’24: $7.8BQ4 ’24: $7.5BQ1 ’25: $7.4BQ2 ’25: $5.8BQ2 ’25Q3 ’25: $6.2BQ4 ’25: $6.3BQ1 ’26: $5.7Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 50.8%REIT: 47.4%Other: 1.4%ADR: 0.4%
  • Common Stock · 50.8% · $2.9B
  • REIT · 47.4% · $2.7B
  • Other · 1.4% · $78M
  • ADR · 0.4% · $26M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AREALEXANDRIA REAL ESTATE EQ IN COMNEW+371.2K371.2K+$54M$54M
PEBPEBBLEBROOK HOTEL TR COMNEW+873.8K873.8K+$12M$12M
WMSADVANCED DRAIN SYS INC DEL COMNEW+124.2K124.2K+$10M$10M
LINDE PLC SHSNEW+19.4K19.4K+$6M$6M
DARDARLING INGREDIENTS INC COMNEW+68.0K68.0K+$4M$4M
MARATHON OIL CORP COMNEW+116.3K116.3K+$3M$3M
MOHMOLINA HEALTHCARE INC COMNEW+9.4K9.4K+$3M$3M
BSXBOSTON SCIENTIFIC CORP COMNEW+39.2K39.2K+$2M$2M

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

Holdings — Q4 2022

378 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PLDPROLOGIS INC. COMhistory →COM3.74%$214M1.90M
2WELLWELLTOWER INC COMhistory →COM3.12%$179M2.72M
3DLRDIGITAL RLTY TR INC COMhistory →COM3.02%$172M1.72M
4WPCWP CAREY INC COMhistory →COM2.43%$139M1.77M
5ESSESSEX PPTY TR INC COMhistory →COM2.37%$135M638.8K
6INVHINVITATION HOMES INC COMhistory →COM2.25%$129M4.34M
7SPGSIMON PPTY GROUP INC NEW COMhistory →COM2.24%$128M1.09M
8AAPLAPPLE INC COMhistory →COM2.07%$118M908.5K
9REXRREXFORD INDL RLTY INC COMhistory →COM2.06%$118M2.15M
10TMOTHERMO FISHER SCIENTIFIC INC COMhistory →COM2.05%$117M213.2K
11UDRUDR INC COMhistory →COM2.04%$117M3.01M
12CPTCAMDEN PPTY TR SH BEN INThistory →INT2.03%$116M1.04M
13CUBECUBESMART COMhistory →COM2.02%$115M2.86M
14NNNNATIONAL RETAIL PROPERTIES I COMhistory →COM2.01%$115M2.50M
15DOCHEALTHPEAK PROPERTIES INC COMhistory →COM1.80%$103M4.10M
16TRNOTERRENO RLTY CORP COMhistory →COM1.76%$101M1.77M
17SITCSITE CTRS CORP COMhistory →COM1.74%$99M7.27M
18EQIXEQUINIX INC COMhistory →COM1.73%$99M151.0K
19MSFTMICROSOFT CORP COMhistory →COM1.66%$95M395.6K
20LIFE STORAGE INC COMCOM1.57%$90M911.3K
21REGREGENCY CTRS CORP COMhistory →COM1.56%$89M1.42M
22PKPARK HOTELS RESORTS INC COMhistory →COM1.50%$86M7.27M
23OREALTY INCOME CORP COMhistory →COM1.42%$81M1.28M
24MDTMEDTRONIC PLC SHShistory →SHS1.30%$74M956.9K
25KRCKILROY RLTY CORP COMhistory →COM1.30%$74M1.92M
26CUZCOUSINS PPTYS INC COM NEWhistory →COM1.23%$71M2.79M
27FMCFMC CORP COM NEWhistory →COM1.15%$66M525.8K
28AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM0.95%$54M371.2K
29SFMSPROUTS FMRS MKT INC COMhistory →COM0.92%$53M1.63M
30OCOWENS CORNING NEW COMhistory →COM0.90%$52M605.0K
31CTVACORTEVA INC COMhistory →COM0.89%$51M863.5K
32EPREPR PPTYS COM SH BEN INThistory →INT0.87%$50M1.32M
33GOOGLALPHABET INC CAP STK CL Ahistory →CLASS A0.85%$49M550.8K
34ITRIITRON INC COMhistory →COM0.77%$44M872.5K
35HAINHAIN CELESTIAL GROUP INC COMhistory →COM0.75%$43M2.66M
36PSAPUBLIC STORAGE COMhistory →COM0.74%$42M150.7K
37ADECOAGRO S A COMCOM0.65%$37M4.50M
38EPRTESSENTIAL PPTYS RLTY TR INC COMhistory →COM0.64%$37M1.56M
39UNHUNITEDHEALTH GROUP INC COMhistory →COM0.62%$35M66.5K
40REGNREGENERON PHARMACEUTICALS COMhistory →COM0.60%$34M47.8K
41ADMARCHER DANIELS MIDLAND CO COMhistory →COM0.55%$31M336.0K
42ABTABBOTT LABS COMhistory →COM0.54%$31M281.9K
43VVISA INC COM CL Ahistory →CLASS A0.40%$23M109.3K
44MCDMCDONALDS CORP COMhistory →COM0.39%$22M84.8K
45NEENEXTERA ENERGY INC COMhistory →COM0.39%$22M265.0K
46PNRPENTAIR PLC SHShistory →SHS0.39%$22M489.7K
47AWKAMERICAN WTR WKS CO INC NEW COMhistory →COM0.38%$22M143.5K
48MCKMCKESSON CORP COMhistory →COM0.38%$22M58.1K
49ILMNILLUMINA INC COMhistory →COM0.37%$21M104.8K
50PEPPEPSICO INC COMhistory →COM0.37%$21M117.1K
51CVXCHEVRON CORP NEW COMhistory →COM0.36%$21M115.1K
52PGPROCTER AND GAMBLE CO COMhistory →COM0.36%$20M135.2K
53LOWLOWES COS INC COMhistory →COM0.35%$20M101.1K
54INCYINCYTE CORP COMhistory →COM0.35%$20M246.4K
55AMGNAMGEN INC COMhistory →COM0.34%$20M75.1K
56MWAMUELLER WTR PRODS INC COM SER Ahistory →COM0.34%$20M1.82M
57MAMASTERCARD INCORPORATED CL Ahistory →CLASS A0.34%$19M55.7K
58MTDMETTLER TOLEDO INTERNATIONAL COMhistory →COM0.33%$19M13.0K
59GPCGENUINE PARTS CO COMhistory →COM0.33%$19M107.8K
60KOCOCA COLA CO COMhistory →COM0.32%$19M291.3K
61CICIGNA CORP NEW COMhistory →COM0.31%$18M53.8K
62CTASCINTAS CORP COMhistory →COM0.31%$18M38.9K
63YUMYUM BRANDS INC COMhistory →COM0.31%$18M137.1K
64BKNGBOOKING HOLDINGS INC COMhistory →COM0.30%$17M8.4K
65UPSUNITED PARCEL SERVICE INC CL Bhistory →CLASS B0.29%$17M96.3K
66JPMJPMORGAN CHASE CO COMhistory →COM0.28%$16M121.0K
67ORLYOREILLY AUTOMOTIVE INC COMhistory →COM0.27%$16M18.6K
68CORAMERISOURCEBERGEN CORP COMhistory →COM0.27%$16M93.9K
69ITGARTNER INC COMhistory →COM0.27%$15M45.9K
70ITWILLINOIS TOOL WKS INC COMhistory →COM0.27%$15M69.4K
71SEDGSOLAREDGE TECHNOLOGIES INC COMhistory →COM0.27%$15M53.5K
72CBCHUBB LIMITED COMhistory →COM0.26%$15M68.0K
73TEVATEVA PHARMACEUTICAL INDS LTD SPONSORED ADShistory →ADS0.26%$15M1.61M
74HDHOME DEPOT INC COMhistory →COM0.25%$14M45.4K
75AZOAUTOZONE INC COMhistory →COM0.25%$14M5.8K
76PFEPFIZER INC COMhistory →COM0.24%$14M271.8K
77MRKMERCK CO INC COMhistory →COM0.24%$14M125.0K
78ELVELEVANCE HEALTH INC COMhistory →COM0.24%$13M26.3K
79PIONEER NAT RES CO COMCOM0.24%$13M58.8K
80DOXAMDOCS LTD SHShistory →SHS0.23%$13M145.9K
81UNPUNION PAC CORP COMhistory →COM0.22%$13M62.0K
82EXPDEXPEDITORS INTL WASH INC COMhistory →COM0.22%$13M123.5K
83RUNSUNRUN INC COMhistory →COM0.22%$13M531.8K
84GWWGRAINGER W W INC COMhistory →COM0.22%$13M22.6K
85ALBALBEMARLE CORP COMhistory →COM0.22%$13M57.8K
86KLACKLA CORP COM NEWhistory →COM0.22%$12M32.7K
87AMEAMETEK INC COMhistory →COM0.21%$12M85.5K
88IEXIDEX CORP COMhistory →COM0.21%$12M51.9K
89PEBPEBBLEBROOK HOTEL TR COMhistory →COM0.20%$12M873.8K
90FICOFAIR ISAAC CORP COMhistory →COM0.20%$12M19.5K
91NUENUCOR CORP COMhistory →COM0.20%$12M87.8K
92KEYSKEYSIGHT TECHNOLOGIES INC COMhistory →COM0.20%$12M67.6K
93DVNDEVON ENERGY CORP NEW COMhistory →COM0.20%$12M187.1K
94SEICSEI INVTS CO COMhistory →COM0.20%$11M197.2K
95CHKPCHECK POINT SOFTWARE TECH LT ORDhistory →ORD0.20%$11M88.3K
96CAHCARDINAL HEALTH INC COMhistory →COM0.19%$11M143.0K
97EOGEOG RES INC COMhistory →COM0.19%$11M84.8K
98VLOVALERO ENERGY CORP COMhistory →COM0.19%$11M86.0K
99SBSCOMPANHIA DE SANEAMENTO BASI SPONSORED ADRhistory →ADR0.19%$11M1.02M
100AFLAFLAC INC COMhistory →COM0.19%$11M151.0K

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 ↗

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 ↗.