APG Asset Management US Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), APG Asset Management US Inc. reported 203 stock positions worth $13.1 billion. Its top holding was Prologis (PLD) at 16.7% of the portfolio, followed by Digital Realty Trust (DLR, 9.6%) and Equinix (EQIX, 7.5%). Compared with Q4 2024, it opened 6 new positions, sold out of 8, added to 22 and reduced 22. The biggest buy was a new position in Ishr Ibx Usd Invgd CB ETF-Ui (LQD) and the biggest sale Digital Realty Trust (DLR, shares −1%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001323255
Portfolio Value
$13.1B (Q1 2025)
SEC Filing
0001323255-25-000015 ↗ filed May 14, 2025

Holdings Value

0$5.0B$10.0B$15.0B$20.0B Q1 2024: $17.3B Q1 2024 Q2 2024: $17.5B Q2 2024 Q3 2024: $14.8B Q3 2024 Q4 2024: $13.2B Q4 2024 Q1 2025: $13.1B $13.1B Q1 2025 Q2 2025: $13.4B Q2 2025 Q3 2025: $13.6B Q3 2025 Q4 2025: $12.8B Q4 2025 Q1 2026: $13.0B Q1 2026 Q2 2026: $14.3B Q2 2026

Holdings 203 stocks · $13.1B
PLD Prologis Inc. 16.73% 19,593,356 $2.2B No change
DLR Digital Realty Trust Inc. 9.64% 8,615,371 $1.3B Reduce -0.7%
EQIX Equinix Inc. 7.48% 1,195,041 $976.3M Reduce -0.3%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 6.29% 11,521,737 $821.3M Reduce -1.2%
VTR Ventas Inc. 6.17% 11,636,519 $806.1M No change
PSA Public Storage 4.95% 2,161,039 $645.8M No change
ARE Alexandria Real Estate Equit 4.77% 6,832,496 $622.8M No change
INVH Invitation Homes Inc. 4.39% 16,599,146 $573.5M No change
MAA Mid-America Apartment Comm 3.94% 3,069,507 $514.1M Add +9.7%
BXP BXP Inc. 3.70% 7,216,018 $483.2M Reduce -3.2%
O Realty Income Corp. 3.63% 8,281,276 $473.3M Add +2.1%
EXR Extra Space Storage Inc. 2.87% 2,533,561 $374.6M No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 2.82% 4,685,500 $368.7M Add +14.3%
COLD Americold Realty Trust Inc. 2.19% 13,508,710 $285.3M Reduce -17.6%
KIM Kimco Realty Corp. 2.05% 12,648,074 $267.4M Reduce -9.6%
CUZ Cousins Properties Inc. 1.74% 7,737,721 $227.5M Reduce -1.5%
WELL Welltower Inc. 1.68% 1,420,826 $219.0M Add +6.2%
HR Healthcare Realty Trust Inc. 1.32% 10,148,808 $171.8M No change
KRC Kilroy Realty Corp. 1.16% 4,611,122 $151.5M Add +5.3%
REG Regency Centers Corp. 1.14% 2,023,988 $148.9M No change
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.86% 3,450,812 $111.9M Reduce -2.3%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.84% 1,005,000 $109.2M New
SPG Simon Property Group Inc. 0.72% 562,210 $93.6M Add +1.4%
UDR Udr Inc. 0.57% 1,645,459 $74.3M Add +6.0%
DOC Healthpeak Properties Inc. 0.41% 2,661,358 $53.3M Add +7.7%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.41% 412,168 $53.0M No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.39% 582,174 $50.6M Add +13.2%
WPC WP Carey Inc. 0.37% 760,019 $47.9M No change
SBRA Sabra Health Care REIT Inc. 0.30% 2,206,617 $38.6M No change
FRT Federal Realty Invs Trust 0.28% 382,214 $37.1M Add +111.4%
ESS Essex Property Trust Inc. 0.27% 117,251 $35.8M Add +41.6%
AVB Avalonbay Communities Inc. 0.24% 145,433 $31.2M Reduce -26.9%
BKLN Invesco Senior Loan ETF 0.23% 1,480,000 $30.7M New
BRX Brixmor Property Group Inc. 0.23% 1,144,399 $30.3M Reduce -11.0%
EPRT Essential Properties Realty 0.23% 908,199 $29.5M No change
VNO Vornado Realty Trust 0.21% 733,774 $27.7M No change
ADC Agree Realty Corp. 0.21% 360,343 $27.7M No change
MAC The Macerich Co. 0.19% 1,459,447 $24.9M Add +21.0%
AVGO Broadcom Inc. 0.19% 146,978 $24.8M Add +2.2%
REXR Rexford Industrial Realty Inc. 0.18% 608,082 $23.8M Reduce -27.7%
MSFT Microsoft Corp. 0.18% 62,095 $23.7M No change
NVDA Nvidia Corp. 0.17% 198,730 $21.9M Add +3.1%
AKR Acadia Realty Trust 0.17% 1,053,152 $21.8M No change
SKT Tanger Inc. 0.16% 613,981 $20.9M No change
RHP Ryman Hospitality Properties 0.14% 201,366 $18.6M No change
UE Urban Edge Properties 0.13% 892,720 $17.0M Reduce -17.1%
EGP Eastgroup Properties Inc. 0.12% 89,783 $15.8M New
HST Host Hotels & Resorts Inc. 0.12% 1,051,904 $15.2M Reduce -49.4%
NTST Netstreit Corp. 0.11% 879,877 $13.9M Reduce -22.8%
CURB Curbline Properties Corp. 0.10% 549,403 $13.6M Reduce -16.0%
NSA National Storage Affiliates 0.10% 344,780 $13.4M Reduce -14.3%
LLY Eli Lilly & Co. 0.09% 14,917 $12.0M No change
GRTUF Granite Real Estate Investme 0.09% 250,000 $11.6M No change
IRT Independence Realty Trust Inc. 0.08% 489,137 $10.4M No change
SITC Site Centers Corp. filed as SITE CTRS CORP 0.08% 802,381 $10.2M No change
UNH Unitedhealth Group Inc. 0.08% 19,083 $10.0M No change
UMH Umh Properties Inc. filed as UMH PPTYS INC 0.07% 483,116 $9.0M No change
AHR American Healthcare REIT Inc. 0.07% 292,952 $9.0M No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.07% 460,001 $8.9M Add +39.5%
CRM Salesforce Inc. 0.07% 32,125 $8.7M No change
SHO Sunstone Hotel Investors Inc. 0.06% 867,197 $8.2M Add +31.0%
EPR Epr Properties filed as EPR PPTYS 0.06% 152,729 $8.0M New
ABBV Abbvie Inc. 0.06% 36,502 $7.5M No change
ORCL Oracle Corp. 0.06% 52,339 $7.4M No change
LINE Lineage Inc. 0.05% 119,081 $6.8M No change
CSCO Cisco Systems Inc. 0.05% 99,218 $6.1M Reduce -12.8%
INTU Intuit Inc. 0.05% 9,828 $6.0M No change
VRE Veris Residential Inc. 0.04% 336,124 $5.7M New
NOW ServiceNow Inc. 0.04% 6,386 $5.2M No change
QCOM Qualcomm Inc. 0.04% 31,922 $4.9M Reduce -9.0%
AMD Advanced Micro Devices 0.04% 46,245 $4.8M Reduce -9.2%
MRK Merck & Co. Inc. 0.04% 52,382 $4.6M No change
PLTR Palantir Technologies Inc. Class A 0.03% 51,705 $4.4M Reduce -17.6%
ADBE Adobe Inc. 0.03% 11,424 $4.4M No change
ANET Arista Networks Inc. 0.03% 54,684 $4.3M Add +40.2%
PANW Palo Alto Networks Inc. 0.03% 23,464 $4.0M Add +13.7%
TXN Texas Instruments Inc. 0.03% 22,549 $4.0M No change
TMO Thermo Fisher Scientific Inc. 0.03% 7,894 $3.8M No change
SHOP Shopify Inc. Class A 0.03% 38,167 $3.7M No change
ISRG Intuitive Surgical Inc. 0.03% 7,343 $3.6M No change
AMGN Amgen Inc. 0.03% 11,104 $3.4M No change
AMAT Applied Materials Inc. 0.02% 22,072 $3.2M No change
CRWD CrowdStrike Holdings Inc. Class A 0.02% 8,697 $3.2M Add +18.7%
MU Micron Technology Inc. 0.02% 34,903 $3.1M No change
BSX Boston Scientific Corp. 0.02% 30,432 $3.1M No change
LRCX Lam Research Corp. 0.02% 39,960 $2.9M No change
CUBE Cubesmart 0.02% 69,044 $2.9M New
PFE Pfizer Inc. 0.02% 117,103 $2.9M No change
GILD Gilead Sciences Inc. 0.02% 25,728 $2.9M No change
KLAC KLA Corp. 0.02% 4,134 $2.8M No change
DHR Danaher Corp. 0.02% 13,432 $2.7M No change
SYK Stryker Corp. 0.02% 7,087 $2.6M No change
INTC Intel Corp. 0.02% 118,644 $2.6M Reduce -11.9%
SNPS Synopsys Inc. 0.02% 5,951 $2.6M Add +28.9%
VRTX Vertex Pharmaceuticals Inc. 0.02% 5,334 $2.6M No change
BMY Bristol-Myers Squibb Co. 0.02% 41,897 $2.5M No change
APH Amphenol Corp. Class A 0.02% 36,408 $2.4M No change
MSI Motorola Solutions Inc. 0.02% 5,252 $2.3M No change
CDNS Cadence Design SYS Inc. 0.02% 8,249 $2.1M No change
ELV Elevance Health Inc. 0.02% 4,792 $2.1M No change

Show all 203 holdings

Portfolio Sells Q4 2024 → Q1 2025
DLR Digital Realty Trust Inc. Reduce -0.7% 9.64% −2.03
EQIX Equinix Inc. Reduce -0.3% 7.48% −1.10
BXP BXP Inc. Reduce -3.2% 3.70% −0.50
COLD Americold Realty Trust Inc. Reduce -17.6% 2.19% −0.48
KIM Kimco Realty Corp. Reduce -9.6% 2.05% −0.44
HST Host Hotels & Resorts Inc. Reduce -49.4% 0.12% −0.16
S Sentinelone Inc. Class A Sold out 0.00% −0.10
AVB Avalonbay Communities Inc. Reduce -26.9% 0.24% −0.09
CUZ Cousins Properties Inc. Reduce -1.5% 1.74% −0.08
REXR Rexford Industrial Realty Inc. Reduce -27.7% 0.18% −0.06
VMRK Vivmark Residential Reduce -1.2% 6.29% −0.06
UE Urban Edge Properties Reduce -17.1% 0.13% −0.05
MPT Medical Properties Trust Inc. Sold out 0.00% −0.04
BRX Brixmor Property Group Inc. Reduce -11.0% 0.23% −0.04
NTST Netstreit Corp. Reduce -22.8% 0.11% −0.02
NSA National Storage Affiliates Reduce -14.3% 0.10% −0.01
CURB Curbline Properties Corp. Reduce -16.0% 0.10% −0.01
AMD Advanced Micro Devices Reduce -9.2% 0.04% −0.01
FSLR First Solar Inc. Sold out 0.00% −0.00
CSCO Cisco Systems Inc. Reduce -12.8% 0.05% −0.00
NET Cloudflare Inc. Class A Reduce -52.1% 0.00% −0.00
QCOM Qualcomm Inc. Reduce -9.0% 0.04% −0.00
LOGI Logitech International-Reg Sold out 0.00% −0.00
PLTR Palantir Technologies Inc. Class A Reduce -17.6% 0.03% −0.00
ENPH Enphase Energy Inc. Sold out 0.00% −0.00
MRNA Moderna Inc. Sold out 0.00% −0.00
TECH Bio-Techne Corp. Sold out 0.00% −0.00
AZPN Aspen Technology Inc. Sold out 0.00% −0.00
INTC Intel Corp. Reduce -11.9% 0.02% −0.00
VICI Vici Properties Inc. Reduce -2.3% 0.86% +0.07

Portfolio Buys Q4 2024 → Q1 2025
LQD Ishr Ibx Usd Invgd CB ETF-Ui New 0.84% +0.84
MAA Mid-America Apartment Comm Add +9.7% 3.94% +0.66
WELL Welltower Inc. Add +6.2% 1.68% +0.40
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +14.3% 2.82% +0.38
O Realty Income Corp. Add +2.1% 3.63% +0.34
BKLN Invesco Senior Loan ETF New 0.23% +0.23
FRT Federal Realty Invs Trust Add +111.4% 0.28% +0.13
EGP Eastgroup Properties Inc. New 0.12% +0.12
ESS Essex Property Trust Inc. Add +41.6% 0.27% +0.10
EPR Epr Properties New 0.06% +0.06
UDR Udr Inc. Add +6.0% 0.57% +0.06
VRE Veris Residential Inc. New 0.04% +0.04
DOC Healthpeak Properties Inc. Add +7.7% 0.41% +0.03
CUBE Cubesmart New 0.02% +0.02
CTO Cto Realty Growth Inc. Add +39.5% 0.07% +0.02
NTNX Nutanix Inc. Class A Add +218.2% 0.01% +0.01
MAC The Macerich Co. Add +21.0% 0.19% +0.01
CRWD CrowdStrike Holdings Inc. Class A Add +18.7% 0.02% +0.01
OKTA Okta Inc. Add +89.8% 0.01% +0.00
SHO Sunstone Hotel Investors Inc. Add +31.0% 0.06% +0.00
SNPS Synopsys Inc. Add +28.9% 0.02% +0.00
PANW Palo Alto Networks Inc. Add +13.7% 0.03% +0.00
ANET Arista Networks Inc. Add +40.2% 0.03% +0.00
SPG Simon Property Group Inc. Add +1.4% 0.72% −0.01
IRM Iron Mountain Inc. Add +13.2% 0.39% −0.02
NVDA Nvidia Corp. Add +3.1% 0.17% −0.03
AVGO Broadcom Inc. Add +2.2% 0.19% −0.06
KRC Kilroy Realty Corp. Add +5.3% 1.16% −0.18

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 61$14.3BPLD, DLR, EQIX, VTR, VMRK
Q1 2026 59$13.0BPLD, DLR, EQIX, VTR, VMRK
Q4 2025 57$12.8BPLD, DLR, EQIX, VTR, VMRK
Q3 2025 184$13.6BPLD, DLR, EQIX, VTR, VMRK
Q2 2025 189$13.4BPLD, DLR, EQIX, VMRK, VTR
Q1 2025 203$13.1BPLD, DLR, EQIX, VMRK, VTR
Q4 2024 205$13.2BPLD, DLR, EQIX, VMRK, VTR
Q3 2024 156$14.8BPLD, DLR, EQIX, VMRK, VTR
Q2 2024 168$17.5BPLD, DLR, EQIX, ARE, VMRK
Q1 2024 171$17.3BPLD, DLR, EQIX, ARE, VTR