SEC 13F Intelligence

Managers / Q4 2024 · view latest →

PGGM Investments

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

Reported Value
$7.5B
Q4 2024
Positions
345
Filings on Record
30
2019–present window
Filed
Feb 10, 2025
original filing

Summary

Pggm Investments reported $7.5B in U.S.-listed holdings across 345 positions for Q4 2024.

Its largest position, EQIX, represents 5.2% of the portfolio.

Compared with Q3 2024, the fund opened 30 new positions and exited 33.

Portfolio Metrics

Turnover
+7.7%
vs prior filed quarter
Top-10 Concentration
+31.4%
share of reported value
Largest Position
+5.2%
Equinix Inc Com
New / Exited
30 / 33
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: 54.0%REIT: 44.4%ADR: 0.9%Other: 0.7%
  • Common Stock · 54.0% · $4.1B
  • REIT · 44.4% · $3.3B
  • ADR · 0.9% · $69M
  • Other · 0.7% · $52M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LRCXLAM RESEARCH CORP COM NEW ADDEDNEW+208.2K208.2K+$15M$15M
APTVAPTIV PLC COM SHS ADDEDNEW+174.5K174.5K+$11M$11M
VRTVERTIV HOLDINGS CO COM CL ANEW+43.8K43.8K+$5M$5M
GILDGILEAD SCIENCES INC COMNEW+48.5K48.5K+$4M$4M
ORCLORACLE CORP COMNEW+26.5K26.5K+$4M$4M
BLKBLACKROCK INC COM ADDEDNEW+4.1K4.1K+$4M$4M
NTRSNORTHERN TR CORP COMNEW+31.5K31.5K+$3M$3M
ANETARISTA NETWORKS INC COM SHS ADDEDNEW+24.8K24.8K+$3M$3M

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

Holdings — Q4 2024

345 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EQIXEQUINIX INC COMhistory →COM5.22%$392M416.2K
2WELLWELLTOWER INC COMhistory →COM4.31%$324M2.57M
3AAPLAPPLE INC COMhistory →COM3.74%$282M1.12M
4NVDANVIDIA CORPORATION COMhistory →COM3.34%$252M1.87M
5SPGSIMON PPTY GROUP INC NEW COMhistory →COM2.84%$213M1.24M
6PLDPROLOGIS INC. COMhistory →COM2.78%$209M1.98M
7EXREXTRA SPACE STORAGE INC COMhistory →COM2.62%$197M1.32M
8MSFTMICROSOFT CORP COMhistory →COM2.41%$181M429.7K
9INVHINVITATION HOMES INC COMhistory →COM2.17%$163M5.11M
10GOOGLALPHABET INC CAP STK CL Ahistory →CLASS A2.00%$150M793.3K
11DOCHEALTHPEAK PROPERTIES INC COMhistory →COM1.93%$145M7.17M
12SUISUN CMNTYS INC COMhistory →COM1.91%$144M1.17M
13WPCWP CAREY INC COMhistory →COM1.88%$142M2.60M
14UDRUDR INC COMhistory →COM1.83%$137M3.16M
15REGREGENCY CTRS CORP COMhistory →COM1.74%$131M1.77M
16ELSEQUITY LIFESTYLE PPTYS INC COMhistory →COM1.70%$128M1.92M
17REXRREXFORD INDL RLTY INC COMhistory →COM1.70%$128M3.30M
18KRCKILROY RLTY CORP COMhistory →COM1.59%$120M2.96M
19COLDAMERICOLD REALTY TRUST INC COMhistory →COM1.58%$119M5.56M
20IRMIRON MTN INC DEL COMhistory →COM1.52%$114M1.08M
21METAMETA PLATFORMS INC CL Ahistory →CLASS A1.51%$114M194.5K
22AMZNAMAZON COM INC COMhistory →COM1.50%$113M515.2K
23TMOTHERMO FISHER SCIENTIFIC INC COMhistory →COM1.41%$106M204.3K
24MDTMEDTRONIC PLC SHShistory →SHS1.32%$99M1.24M
25BRXBRIXMOR PPTY GROUP INC COMhistory →COM1.28%$97M3.47M
26AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM1.24%$94M958.9K
27ABTABBOTT LABS COMhistory →COM1.02%$77M680.0K
28DLRDIGITAL RLTY TR INC COMhistory →COM0.96%$72M408.4K
29JPMJPMORGAN CHASE CO. COMhistory →COM0.88%$66M277.0K
30LINLINDE PLC SHShistory →SHS0.84%$63M151.3K
31ITRIITRON INC COMhistory →COM0.83%$63M576.7K
32ILMNILLUMINA INC COMhistory →COM0.81%$61M457.4K
33MAMASTERCARD INCORPORATED CL Ahistory →CLASS A0.81%$61M115.5K
34HSTHOST HOTELS RESORTS INC COMhistory →COM0.72%$54M3.11M
35PSAPUBLIC STORAGE OPER CO COMhistory →COM0.71%$54M179.4K
36RHPRYMAN HOSPITALITY PPTYS INC COMhistory →COM0.70%$53M503.5K
37BKNGBOOKING HOLDINGS INC COMhistory →COM0.62%$47M9.4K
38ALBALBEMARLE CORP COMhistory →COM0.61%$46M534.2K
39TSLATESLA INC COMhistory →COM0.60%$45M112.3K
40CTVACORTEVA INC COMhistory →COM0.58%$43M763.0K
41NFLXNETFLIX INC COMhistory →COM0.58%$43M48.7K
42ADECOAGRO S A COMCOM0.56%$42M4.50M
43ROPROPER TECHNOLOGIES INC COMhistory →COM0.55%$42M80.0K
44CUBECUBESMART COMhistory →COM0.54%$40M943.8K
45AMHAMERICAN HOMES 4 RENT CL Ahistory →CLASS A0.53%$40M1.06M
46AVGOBROADCOM INC COMhistory →COM0.51%$38M164.8K
47ARGXARGENX SE SPONSORED ADRhistory →ADR0.46%$35M56.8K
48HDBHDFC BANK LTD SPONSORED ADShistory →ADS0.45%$34M530.4K
49BACBANK AMERICA CORP COMhistory →COM0.40%$30M676.3K
50FICOFAIR ISAAC CORP COMhistory →COM0.35%$27M13.4K
51AXPAMERICAN EXPRESS CO COMhistory →COM0.35%$26M87.6K
52HAINHAIN CELESTIAL GROUP INC COMhistory →COM0.34%$26M4.18M
53CTASCINTAS CORP COMhistory →COM0.34%$26M140.0K
54FMCFMC CORP COM NEWhistory →COM0.34%$25M521.8K
55GWWGRAINGER W W INC COMhistory →COM0.31%$23M22.0K
56REGNREGENERON PHARMACEUTICALS COMhistory →COM0.31%$23M32.5K
57BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEWhistory →CLASS B0.31%$23M50.8K
58TTTRANE TECHNOLOGIES PLC SHShistory →SHS0.30%$23M61.0K
59VVISA INC COM CL Ahistory →CLASS A0.30%$22M71.1K
60TJXTJX COS INC NEW COMhistory →COM0.30%$22M186.0K
61ADMARCHER DANIELS MIDLAND CO COMhistory →COM0.29%$22M426.1K
62AMATAPPLIED MATLS INC COMhistory →COM0.28%$21M130.9K
63COSTCOSTCO WHSL CORP NEW COMhistory →COM0.28%$21M23.2K
64QCOMQUALCOMM INC COMhistory →COM0.28%$21M137.0K
65ITWILLINOIS TOOL WKS INC COMhistory →COM0.28%$21M81.8K
66GSGOLDMAN SACHS GROUP INC COMhistory →COM0.27%$20M35.2K
67GDDYGODADDY INC CL Ahistory →CLASS A0.27%$20M101.9K
68AFLAFLAC INC COMhistory →COM0.26%$19M188.0K
69CMCSACOMCAST CORP NEW CL Ahistory →CLASS A0.25%$19M499.6K
70KLACKLA CORP COM NEWhistory →COM0.25%$19M29.5K
71CCITIGROUP INC COM NEWhistory →COM0.24%$18M261.6K
72ITGARTNER INC COMhistory →COM0.24%$18M37.7K
73PGPROCTER AND GAMBLE CO COMhistory →COM0.24%$18M107.7K
74NVRNVR INC COMhistory →COM0.24%$18M2.2K
75MRSHMARSH MCLENNAN COS INC COMhistory →COM0.24%$18M83.7K
76GE AEROSPACE COM NEWCOM0.23%$17M104.8K
77WMSADVANCED DRAIN SYS INC DEL COMhistory →COM0.23%$17M150.3K
78AMPAMERIPRISE FINL INC COMhistory →COM0.23%$17M32.2K
79BSXBOSTON SCIENTIFIC CORP COMhistory →COM0.23%$17M192.0K
80VRSNVERISIGN INC COMhistory →COM0.22%$17M79.9K
81BMRNBIOMARIN PHARMACEUTICAL INC COMhistory →COM0.21%$16M243.7K
82SNASNAP ON INC COMhistory →COM0.21%$16M46.4K
83MCKMCKESSON CORP COMhistory →COM0.21%$16M27.4K
84MTDMETTLER TOLEDO INTERNATIONAL COMhistory →COM0.20%$15M12.6K
85BNYBANK NEW YORK MELLON CORP COMhistory →COM0.20%$15M200.3K
86OTISOTIS WORLDWIDE CORP COMhistory →COM0.20%$15M164.4K
87LRCXLAM RESEARCH CORP COM NEW ADDEDhistory →COM0.20%$15M208.2K
88ADPAUTOMATIC DATA PROCESSING IN COMhistory →COM0.20%$15M50.9K
89FISVFISERV INC COMhistory →COM0.20%$15M72.2K
90PHPARKER-HANNIFIN CORP COMhistory →COM0.19%$15M22.9K
91CBCHUBB LIMITED COMhistory →COM0.19%$14M52.4K
92CRMSALESFORCE INC COMhistory →COM0.19%$14M43.1K
93PLTRPALANTIR TECHNOLOGIES INC CL Ahistory →CLASS A0.19%$14M190.4K
94AIGAMERICAN INTL GROUP INC COM NEWhistory →COM0.19%$14M197.1K
95CORCENCORA INC COMhistory →COM0.19%$14M63.0K
96LLOEWS CORP COMhistory →COM0.19%$14M165.6K
97FISFIDELITY NATL INFORMATION SV COMhistory →COM0.18%$14M171.7K
98MASMASCO CORP COMhistory →COM0.18%$14M189.6K
99CAHCARDINAL HEALTH INC COMhistory →COM0.18%$14M116.0K
100FASTFASTENAL CO COMhistory →COM0.18%$14M189.4K

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 ↗.