SEC 13F Intelligence

Managers / Q4 2023 · view latest →

PGGM Investments

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

Reported Value
$6.6B
Q4 2023
Positions
351
Filings on Record
30
2019–present window
Filed
Feb 5, 2024
original filing

Summary

Pggm Investments reported $6.6B in U.S.-listed holdings across 351 positions for Q4 2023.

Its largest position, PLD, represents 6.4% of the portfolio.

Compared with Q3 2023, the fund opened 21 new positions and exited 16.

Portfolio Metrics

Turnover
+6.9%
vs prior filed quarter
Top-10 Concentration
+30.7%
share of reported value
Largest Position
+6.4%
Prologis Inc Com
New / Exited
21 / 16
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: 49.9%REIT: 48.6%Other: 1.1%ADR: 0.4%Tracking Stk: 0.0%
  • Common Stock · 49.9% · $3.3B
  • REIT · 48.6% · $3.2B
  • Other · 1.1% · $74M
  • ADR · 0.4% · $26M
  • Tracking Stk · 0.0% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
HSTHOST HOTELS RESORTS INC COMNEW+2.96M2.96M+$58M$58M
HIWHIGHWOODS PPTYS INC COMNEW+2.04M2.04M+$47M$47M
KIMKIMCO RLTY CORP COMNEW+2.17M2.17M+$46M$46M
CRMSALESFORCE INC COMNEW+24.7K24.7K+$7M$7M
BMYBRISTOL-MYERS SQUIBB CO COMNEW+98.4K98.4K+$5M$5M
BLDRBUILDERS FIRSTSOURCE INC COMNEW+17.8K17.8K+$3M$3M
ABBVABBVIE INC COMNEW+11.8K11.8K+$2M$2M
KHCKRAFT HEINZ CO COMNEW+31.2K31.2K+$1M$1M

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

Holdings — Q4 2023

351 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PLDPROLOGIS INC. COMhistory →COM6.43%$423M3.17M
2WELLWELLTOWER INC COMhistory →COM3.39%$223M2.47M
3EQIXEQUINIX INC COMhistory →COM3.26%$214M265.9K
4EXREXTRA SPACE STORAGE INC COMhistory →COM3.25%$214M1.33M
5SPGSIMON PPTY GROUP INC NEW COMhistory →COM2.63%$173M1.21M
6DLRDIGITAL RLTY TR INC COMhistory →COM2.63%$173M1.28M
7AAPLAPPLE INC COMhistory →COM2.55%$168M871.8K
8INVHINVITATION HOMES INC COMhistory →COM2.46%$161M4.73M
9WPCWP CAREY INC COMhistory →COM2.08%$137M2.11M
10MSFTMICROSOFT CORP COMhistory →COM2.03%$134M355.5K
11REXRREXFORD INDL RLTY INC COMhistory →COM2.00%$131M2.34M
12SUISUN CMNTYS INC COMhistory →COM1.90%$125M933.7K
13DOCHEALTHPEAK PROPERTIES INC COMhistory →COM1.88%$123M6.22M
14CPTCAMDEN PPTY TR SH BEN INThistory →INT1.79%$118M1.19M
15TMOTHERMO FISHER SCIENTIFIC INC COMhistory →COM1.59%$105M196.9K
16OREALTY INCOME CORP COMhistory →COM1.50%$98M1.71M
17MDTMEDTRONIC PLC SHShistory →SHS1.38%$91M1.10M
18ESSESSEX PPTY TR INC COMhistory →COM1.37%$90M362.3K
19UDRUDR INC COMhistory →COM1.35%$89M2.32M
20AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM1.32%$87M686.0K
21KRCKILROY RLTY CORP COMhistory →COM1.16%$76M1.92M
22LINLINDE PLC SHShistory →SHS1.15%$75M183.5K
23NVDANVIDIA CORPORATION COMhistory →COM1.11%$73M146.7K
24GOOGLALPHABET INC CAP STK CL Ahistory →CLASS A1.10%$72M517.1K
25ABTABBOTT LABS COMhistory →COM1.09%$71M648.0K
26ITRIITRON INC COMhistory →COM1.02%$67M885.5K
27FRTFEDERAL RLTY INVT TR NEW SH BEN INT NEWhistory →INT0.94%$62M600.4K
28EPREPR PPTYS COM SH BEN INThistory →INT0.94%$62M1.27M
29PEBPEBBLEBROOK HOTEL TR COMhistory →COM0.92%$61M3.79M
30HSTHOST HOTELS RESORTS INC COMhistory →COM0.88%$58M2.96M
31SITCSITE CTRS CORP COMhistory →COM0.86%$57M4.16M
32PSAPUBLIC STORAGE COMhistory →COM0.84%$55M181.4K
33METAMETA PLATFORMS INC CL Ahistory →CLASS A0.78%$51M144.1K
34ADECOAGRO S A COMCOM0.76%$50M4.50M
35VVISA INC COM CL Ahistory →CLASS A0.75%$49M189.9K
36HIWHIGHWOODS PPTYS INC COMhistory →COM0.71%$47M2.04M
37KIMKIMCO RLTY CORP COMhistory →COM0.71%$46M2.17M
38HAINHAIN CELESTIAL GROUP INC COMhistory →COM0.69%$45M4.13M
39MAMASTERCARD INCORPORATED CL Ahistory →CLASS A0.69%$45M105.6K
40BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEWhistory →CLASS B0.65%$42M119.0K
41JPMJPMORGAN CHASE CO COMhistory →COM0.63%$41M243.0K
42AMZNAMAZON COM INC COMhistory →COM0.63%$41M270.8K
43BKNGBOOKING HOLDINGS INC COMhistory →COM0.61%$40M11.4K
44SEDGSOLAREDGE TECHNOLOGIES INC COMhistory →COM0.57%$38M401.5K
45CUBECUBESMART COMhistory →COM0.57%$38M809.7K
46CTVACORTEVA INC COMhistory →COM0.56%$37M763.0K
47NEENEXTERA ENERGY INC COMhistory →COM0.53%$35M578.5K
48FMCFMC CORP COM NEWhistory →COM0.50%$33M521.8K
49BRXBRIXMOR PPTY GROUP INC COMhistory →COM0.50%$33M1.41M
50ADMARCHER DANIELS MIDLAND CO COMhistory →COM0.50%$33M451.7K
51REGNREGENERON PHARMACEUTICALS COMhistory →COM0.48%$32M36.0K
52ILMNILLUMINA INC COMhistory →COM0.45%$29M211.8K
53PGPROCTER AND GAMBLE CO COMhistory →COM0.44%$29M196.1K
54PNRPENTAIR PLC SHShistory →SHS0.44%$29M393.6K
55ADBEADOBE INC COMhistory →COM0.39%$26M43.3K
56KOCOCA COLA CO COMhistory →COM0.38%$25M424.9K
57MCKMCKESSON CORP COMhistory →COM0.36%$23M50.6K
58CTASCINTAS CORP COMhistory →COM0.35%$23M37.7K
59CMCSACOMCAST CORP NEW CL Ahistory →CLASS A0.34%$22M503.3K
60FICOFAIR ISAAC CORP COMhistory →COM0.33%$22M18.6K
61AWKAMERICAN WTR WKS CO INC NEW COMhistory →COM0.33%$22M163.9K
62PEPPEPSICO INC COMhistory →COM0.32%$21M123.6K
63MCDMCDONALDS CORP COMhistory →COM0.32%$21M70.3K
64WMSADVANCED DRAIN SYS INC DEL COMhistory →COM0.30%$20M142.4K
65SFMSPROUTS FMRS MKT INC COMhistory →COM0.30%$20M409.7K
66AMATAPPLIED MATLS INC COMhistory →COM0.29%$19M118.8K
67CORCENCORA INC COMhistory →COM0.29%$19M93.2K
68ITGARTNER INC COMhistory →COM0.29%$19M42.2K
69RUNSUNRUN INC COMhistory →COM0.29%$19M958.0K
70KLACKLA CORP COM NEWhistory →COM0.28%$19M32.1K
71ITWILLINOIS TOOL WKS INC COMhistory →COM0.28%$18M70.4K
72GWWGRAINGER W W INC COMhistory →COM0.28%$18M22.0K
73MRSHMARSH MCLENNAN COS INC COMhistory →COM0.27%$18M94.8K
74CAHCARDINAL HEALTH INC COMhistory →COM0.26%$17M168.7K
75ARGXARGENX SE SPONSORED ADRhistory →ADR0.26%$17M44.6K
76YUMYUM BRANDS INC COMhistory →COM0.26%$17M129.4K
77ORLYOREILLY AUTOMOTIVE INC COMhistory →COM0.25%$17M17.5K
78ALBALBEMARLE CORP COMhistory →COM0.25%$17M114.3K
79VRSNVERISIGN INC COMhistory →COM0.25%$16M79.3K
80CATCATERPILLAR INC COMhistory →COM0.25%$16M54.8K
81GENERAL ELECTRIC CO COM NEWCOM0.25%$16M126.5K
82AFLAFLAC INC COMhistory →COM0.24%$16M194.0K
83FASTFASTENAL CO COMhistory →COM0.24%$16M240.5K
84NVRNVR INC COMhistory →COM0.24%$15M2.2K
85MTDMETTLER TOLEDO INTERNATIONAL COMhistory →COM0.23%$15M12.6K
86OTISOTIS WORLDWIDE CORP COMhistory →COM0.23%$15M170.1K
87EXPDEXPEDITORS INTL WASH INC COMhistory →COM0.23%$15M118.6K
88UNHUNITEDHEALTH GROUP INC COMhistory →COM0.21%$14M26.8K
89PHMPULTE GROUP INC COMhistory →COM0.21%$14M134.8K
90CSCOCISCO SYS INC COMhistory →COM0.21%$14M269.0K
91SNASNAP ON INC COMhistory →COM0.21%$14M46.8K
92CCEPCOCA-COLA EUROPACIFIC PARTNE SHShistory →SHS0.21%$14M202.3K
93TJXTJX COS INC NEW COMhistory →COM0.20%$13M143.0K
94AMEAMETEK INC COMhistory →COM0.20%$13M79.6K
95MPCMARATHON PETE CORP COMhistory →COM0.20%$13M87.6K
96NFLXNETFLIX INC COMhistory →COM0.20%$13M26.7K
97DOXAMDOCS LTD SHShistory →SHS0.19%$13M143.3K
98SEICSEI INVTS CO COMhistory →COM0.19%$12M195.4K
99CITHE CIGNA GROUP COMhistory →COM0.18%$12M40.4K
100LLOEWS CORP COMhistory →COM0.18%$12M172.9K

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 ↗.