SEC 13F Intelligence

Managers / Q1 2025 · view latest →

PGGM Investments

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

Reported Value
$7.4B
Q1 2025
Positions
347
Filings on Record
29
2019–present window
Filed
May 12, 2025
original filing

Summary

Pggm Investments reported $7.4B in U.S.-listed holdings across 347 positions for Q1 2025.

Its largest position, WELL, represents 5.5% of the portfolio.

Compared with Q4 2024, the fund opened 18 new positions and exited 16.

Portfolio Metrics

Turnover
+12.1%
vs prior filed quarter
Top-10 Concentration
+29.8%
share of reported value
Largest Position
+5.5%
Welltower Inc Com
New / Exited
18 / 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
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: 53.0%REIT: 45.2%ADR: 1.0%Other: 0.8%
  • Common Stock · 53.0% · $3.9B
  • REIT · 45.2% · $3.4B
  • ADR · 1.0% · $75M
  • Other · 0.8% · $58M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EPRTESSENTIAL PPTYS RLTY TR INC COMNEW+2.87M2.87M+$94M$94M
CPTCAMDEN PPTY TR SH BEN INTNEW+669.5K669.5K+$82M$82M
MACMACERICH CO COMNEW+3.47M3.47M+$60M$60M
WMTWALMART INC COMNEW+374.4K374.4K+$33M$33M
CTRECARETRUST REIT INC COMNEW+493.0K493.0K+$14M$14M
WCNWASTE CONNECTIONS INC COMNEW+49.9K49.9K+$10M$10M
LYVLIVE NATION ENTERTAINMENT IN COMNEW+23.1K23.1K+$3M$3M
CHTRCHARTER COMMUNICATIONS INC N CL ANEW+6.4K6.4K+$2M$2M

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

Holdings — Q1 2025

347 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1WELLWELLTOWER INC COMhistory →COM5.46%$405M2.64M
2EQIXEQUINIX INC COMhistory →COM4.09%$303M372.0K
3AAPLAPPLE INC COMhistory →COM3.13%$232M1.05M
4PLDPROLOGIS INC. COMhistory →COM3.01%$223M1.99M
5NVDANVIDIA CORPORATION COMhistory →COM2.78%$206M1.90M
6EXREXTRA SPACE STORAGE INC COMhistory →COM2.77%$205M1.38M
7INVHINVITATION HOMES INC COMhistory →COM2.36%$175M5.03M
8MSFTMICROSOFT CORP COMhistory →COM2.16%$160M426.7K
9UDRUDR INC COMhistory →COM2.04%$151M3.35M
10DOCHEALTHPEAK PROPERTIES INC COMhistory →COM2.01%$149M7.37M
11SPGSIMON PPTY GROUP INC NEW COMhistory →COM1.93%$143M859.8K
12IRMIRON MTN INC DEL COMhistory →COM1.85%$137M1.60M
13REXRREXFORD INDL RLTY INC COMhistory →COM1.74%$129M3.30M
14ELSEQUITY LIFESTYLE PPTYS INC COMhistory →COM1.72%$128M1.92M
15COLDAMERICOLD REALTY TRUST INC COMhistory →COM1.70%$126M5.88M
16GOOGLALPHABET INC CAP STK CL Ahistory →CLASS A1.65%$123M793.3K
17METAMETA PLATFORMS INC CL Ahistory →CLASS A1.46%$108M188.1K
18MDTMEDTRONIC PLC SHShistory →SHS1.39%$103M1.15M
19AMZNAMAZON COM INC COMhistory →COM1.36%$101M531.3K
20FRTFEDERAL RLTY INVT TR NEW SH BEN INT NEWhistory →NEW1.33%$98M1.01M
21TMOTHERMO FISHER SCIENTIFIC INC COMhistory →COM1.27%$94M189.9K
22AREALEXANDRIA REAL ESTATE EQ IN COMhistory →COM1.27%$94M1.02M
23KRCKILROY RLTY CORP COMhistory →COM1.27%$94M2.87M
24EPRTESSENTIAL PPTYS RLTY TR INC COMhistory →COM1.26%$94M2.87M
25ABTABBOTT LABS COMhistory →COM1.18%$88M659.7K
26BRXBRIXMOR PPTY GROUP INC COMhistory →COM1.11%$82M3.09M
27CPTCAMDEN PPTY TR SH BEN INThistory →INT1.10%$82M669.5K
28ADCAGREE RLTY CORP COMhistory →COM1.00%$74M956.2K
29LINLINDE PLC SHShistory →SHS0.94%$69M149.0K
30JPMJPMORGAN CHASE CO. COMhistory →COM0.91%$68M275.6K
31MAMASTERCARD INCORPORATED CL Ahistory →CLASS A0.84%$62M113.8K
32MACMACERICH CO COMhistory →COM0.80%$60M3.47M
33DLRDIGITAL RLTY TR INC COMhistory →COM0.78%$58M403.9K
34SUISUN CMNTYS INC COMhistory →COM0.75%$56M432.6K
35ADECOAGRO S A COMCOM0.68%$50M4.50M
36RHPRYMAN HOSPITALITY PPTYS INC COMhistory →COM0.65%$48M530.2K
37ROPROPER TECHNOLOGIES INC COMhistory →COM0.64%$47M80.0K
38HDBHDFC BANK LTD SPONSORED ADShistory →ADS0.62%$46M693.4K
39PSAPUBLIC STORAGE OPER CO COMhistory →COM0.62%$46M153.0K
40CTVACORTEVA INC COMhistory →COM0.62%$46M726.2K
41NFLXNETFLIX INC COMhistory →COM0.60%$44M47.6K
42HSTHOST HOTELS RESORTS INC COMhistory →COM0.60%$44M3.11M
43BKNGBOOKING HOLDINGS INC COMhistory →COM0.58%$43M9.4K
44ILMNILLUMINA INC COMhistory →COM0.57%$42M534.4K
45ALBALBEMARLE CORP COMhistory →COM0.55%$40M561.9K
46CUBECUBESMART COMhistory →COM0.54%$40M943.8K
47AMHAMERICAN HOMES 4 RENT CL Ahistory →CLASS A0.54%$40M1.06M
48ITRIITRON INC COMhistory →COM0.48%$36M341.2K
49WMTWALMART INC COMhistory →COM0.44%$33M374.4K
50AVGOBROADCOM INC COMhistory →COM0.42%$31M186.1K
51REGREGENCY CTRS CORP COMhistory →COM0.41%$31M415.7K
52ARGXARGENX SE SPONSORED ADRhistory →ADR0.39%$29M48.8K
53BACBANK AMERICA CORP COMhistory →COM0.39%$29M687.2K
54BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEWhistory →NEW0.38%$28M52.9K
55CTASCINTAS CORP COMhistory →COM0.37%$27M131.8K
56NEENEXTERA ENERGY INC COMhistory →COM0.36%$27M377.3K
57SNPSSYNOPSYS INC COMhistory →COM0.34%$26M59.5K
58BMRNBIOMARIN PHARMACEUTICAL INC COMhistory →COM0.33%$25M349.6K
59FICOFAIR ISAAC CORP COMhistory →COM0.33%$25M13.4K
60ITWILLINOIS TOOL WKS INC COMhistory →COM0.33%$24M98.4K
61TSLATESLA INC COMhistory →COM0.32%$24M92.8K
62TJXTJX COS INC NEW COMhistory →COM0.32%$24M197.4K
63AXPAMERICAN EXPRESS CO COMhistory →COM0.32%$24M87.6K
64TTTRANE TECHNOLOGIES PLC SHShistory →SHS0.31%$23M67.8K
65VVISA INC COM CL Ahistory →CLASS A0.31%$23M65.1K
66CMCSACOMCAST CORP NEW CL Ahistory →CLASS A0.30%$23M612.8K
67WMSADVANCED DRAIN SYS INC DEL COMhistory →COM0.30%$22M205.8K
68FMCFMC CORP COM NEWhistory →NEW0.30%$22M521.8K
69GWWGRAINGER W W INC COMhistory →COM0.29%$22M22.0K
70GSGOLDMAN SACHS GROUP INC COMhistory →COM0.29%$21M39.0K
71AFLAFLAC INC COMhistory →COM0.29%$21M190.1K
72REGNREGENERON PHARMACEUTICALS COMhistory →COM0.28%$21M32.5K
73ADMARCHER DANIELS MIDLAND CO COMhistory →COM0.28%$20M426.1K
74MRSHMARSH MCLENNAN COS INC COMhistory →COM0.27%$20M83.1K
75BSXBOSTON SCIENTIFIC CORP COMhistory →COM0.26%$19M192.0K
76PGPROCTER AND GAMBLE CO COMhistory →COM0.25%$19M109.7K
77CCITIGROUP INC COM NEWhistory →NEW0.25%$19M261.6K
78QCOMQUALCOMM INC COMhistory →COM0.25%$19M120.5K
79OTISOTIS WORLDWIDE CORP COMhistory →COM0.25%$18M177.8K
80GDDYGODADDY INC CL Ahistory →CLASS A0.25%$18M101.9K
81TAT T INC COMhistory →COM0.24%$18M637.3K
82COSTCOSTCO WHSL CORP NEW COMhistory →COM0.24%$18M19.0K
83VRSNVERISIGN INC COMhistory →COM0.24%$17M68.7K
84HAINHAIN CELESTIAL GROUP INC COMhistory →COM0.23%$17M4.18M
85HDHOME DEPOT INC COMhistory →COM0.23%$17M47.1K
86AIGAMERICAN INTL GROUP INC COM NEWhistory →NEW0.23%$17M195.3K
87BNYBANK NEW YORK MELLON CORP COMhistory →COM0.23%$17M200.3K
88IQVIQVIA HLDGS INC COMhistory →COM0.22%$16M92.4K
89FTNTFORTINET INC COMhistory →COM0.22%$16M166.5K
90ADPAUTOMATIC DATA PROCESSING IN COMhistory →COM0.22%$16M52.4K
91FISVFISERV INC COMhistory →COM0.22%$16M72.2K
92NVRNVR INC COMhistory →COM0.21%$16M2.2K
93ITGARTNER INC COMhistory →COM0.21%$16M37.7K
94CBCHUBB LIMITED COMhistory →COM0.21%$16M52.4K
95PLTRPALANTIR TECHNOLOGIES INC CL Ahistory →CLASS A0.21%$16M187.1K
96SNASNAP ON INC COMhistory →COM0.21%$16M46.4K
97AMPAMERIPRISE FINL INC COMhistory →COM0.21%$16M32.2K
98GE AEROSPACE COM NEWNEW0.21%$16M77.9K
99MCKMCKESSON CORP COMhistory →COM0.21%$16M23.1K
100LLOEWS CORP COMhistory →COM0.21%$15M165.6K

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 ↗.