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
ROP Roper Technologies Inc. 0.02% 3,375 $2.0M No change
FTNT Fortinet Inc. 0.02% 20,467 $2.0M No change
CI The Cigna Group 0.01% 5,777 $1.9M No change
APP AppLovin Corp. Class A 0.01% 6,546 $1.9M No change
MCK McKesson Corp. 0.01% 2,680 $1.8M No change
ADSK Autodesk Inc. 0.01% 6,768 $1.8M No change
CVS CVS Health Corp. 0.01% 25,996 $1.8M No change
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.01% 5,761 $1.8M No change
NTNX Nutanix Inc. Class A 0.01% 25,240 $1.8M Add +218.2%
MRVL Marvell Technology Inc. 0.01% 26,667 $1.7M No change
WDAY Workday Inc. Class A 0.01% 6,705 $1.6M No change
ZTS Zoetis Inc. 0.01% 9,362 $1.5M No change
NXPI NXP Semiconductors NV 0.01% 7,850 $1.5M No change
FICO Fair Isaac Corp. 0.01% 752 $1.4M No change
HCA HCA Healthcare Inc. 0.01% 4,000 $1.4M No change
REGN Regeneron Pharmaceuticals 0.01% 2,240 $1.4M No change
SNOW Snowflake Inc. 0.01% 9,102 $1.4M No change
BDX Becton Dickinson and Co. 0.01% 5,973 $1.4M No change
TEL Te Connectivity PLC 0.01% 9,414 $1.3M No change
CTSH Cognizant Tech Solutions-A 0.01% 15,603 $1.2M No change
GLW Corning Inc. 0.01% 25,590 $1.2M No change
TEAM Atlassian Corp. Class A 0.01% 5,038 $1.1M No change
OKTA Okta Inc. 0.01% 9,706 $1.0M Add +89.8%
IT Gartner Inc. 0.01% 2,426 $1.0M No change
ALC Alcon Inc. filed as ALCON AG 0.01% 10,326 $963K No change
DT Dynatrace Inc. 0.01% 19,775 $946K No change
DELL Dell Technologies -C 0.01% 9,985 $918K No change
EW Edwards Lifesciences Corp. 0.01% 12,449 $895K No change
HUBS HubSpot Inc. 0.01% 1,536 $894K No change
DDOG Datadog Inc. Class A 0.01% 8,834 $893K No change
ANSS Ansys Inc. 0.01% 2,751 $882K No change
MPWR Monolithic Power Systems Inc. 0.01% 1,473 $857K No change
KEYS Keysight Technologies Inc. 0.01% 5,463 $820K No change
MCHP Microchip Technology Inc. 0.01% 16,543 $802K No change
GDDY GoDaddy Inc. Class A 0.01% 4,438 $802K No change
TYL Tyler Technologies Inc. 0.01% 1,343 $785K No change
GEHC GE Healthcare Technology 0.01% 9,437 $751K No change
TDY Teledyne Technologies Inc. 0.01% 1,473 $734K No change
VEEV Veeva Systems Inc. Class A 0.01% 3,179 $724K No change
VRSN Verisign Inc. 0.01% 2,765 $705K No change
CAH Cardinal Health Inc. 0.01% 5,000 $686K No change
CDW CDW Corp. 0.01% 4,205 $682K No change
A Agilent Technologies Inc. 0.01% 5,938 $677K No change
RMD Resmed Inc. 0.01% 3,033 $674K No change
HUM Humana Inc. 0.01% 2,488 $659K No change
CNC Centene Corp. 0.01% 10,871 $657K No change
GIB Cgi Inc. 0.00% 6,411 $645K No change
IQV Iqvia Holdings Inc. 0.00% 3,767 $645K No change
CHKP Check Point Software Tech 0.00% 2,733 $631K No change
HPE Hewlett Packard Enterprise 0.00% 38,965 $609K No change
PTC PTC Inc. 0.00% 3,782 $591K No change
SMCI Super Micro Computer Inc. 0.00% 16,590 $581K No change
ZM Zoom Communications Inc. 0.00% 7,839 $580K No change
NTAP Netapp Inc. 0.00% 6,446 $577K No change
STX Seagate Technology Holdings 0.00% 6,626 $560K No change
DXCM Dexcom Inc. 0.00% 8,281 $557K No change
ZS Zscaler Inc. 0.00% 2,721 $547K No change
NET Cloudflare Inc. Class A 0.00% 4,591 $531K Reduce -52.1%
DOCU Docusign Inc. 0.00% 6,389 $528K No change
ON On Semiconductor 0.00% 13,008 $523K No change
JBL Jabil Inc. 0.00% 3,740 $510K No change
MTD Mettler-Toledo International 0.00% 441 $510K No change
TRMB Trimble Inc. 0.00% 7,307 $478K No change
ZBH Zimmer Biomet Holdings Inc. 0.00% 4,209 $473K No change
TWLO Twilio Inc. Class A 0.00% 4,803 $472K No change
GEN Gen Digital Inc. 0.00% 17,439 $466K No change
STE Steris PLC 0.00% 2,038 $460K No change
ZBRA Zebra Technologies Corp. Class A 0.00% 1,624 $460K No change
CYBR Cyberark Software Ltd./Israel 0.00% 1,285 $448K No change
WDC Western Digital Corp. 0.00% 10,882 $445K No change
WAT Waters Corp. 0.00% 1,227 $437K No change
P Everpure Inc. Class A filed as PURE STORAGE INC 0.00% 9,340 $424K No change
BIIB Biogen Inc. 0.00% 3,010 $397K No change
MOH Molina Healthcare Inc. 0.00% 1,211 $397K No change
TER Teradyne Inc. 0.00% 4,728 $391K No change
DGX Quest Diagnostics Inc. 0.00% 2,300 $389K No change
MDB Mongodb Inc. 0.00% 2,201 $389K No change
AKAM Akamai Technologies Inc. 0.00% 4,770 $384K No change
PODD Insulet Corp. 0.00% 1,449 $381K No change
BAX Baxter International Inc. 0.00% 10,543 $359K No change
TEVA Teva Pharmaceutical-SP ADR 0.00% 23,412 $358K No change
MANH Manhattan Associates Inc. 0.00% 1,928 $337K No change
WST West Pharmaceutical Services 0.00% 1,499 $330K No change
SWKS Skyworks Solutions Inc. 0.00% 4,885 $316K No change
MNDY Monday.com Ltd. 0.00% 1,179 $309K No change
EPAM Epam Systems Inc. 0.00% 1,792 $300K No change
HOLX Hologic Inc. 0.00% 4,800 $295K No change
DSGX The Descartes Systems Grp 0.00% 2,691 $274K No change
WIX Wix.com Ltd. 0.00% 1,664 $273K No change
UTHR United Therapeutics Corp. 0.00% 873 $268K No change
BMRN Biomarin Pharmaceutical Inc. 0.00% 3,934 $267K No change
IOT Samsara Inc. Class A 0.00% 6,877 $267K No change
RVTY Revvity Inc. 0.00% 2,549 $266K No change
ILMN Illumina Inc. 0.00% 3,284 $257K No change
RPRX Royalty Pharma PLC Class A 0.00% 7,872 $245K No change
ALGN Align Technology Inc. 0.00% 1,466 $232K No change
SOLV Solventum Corp. 0.00% 3,034 $232K No change
NBIX Neurocrine Biosciences Inc. 0.00% 2,087 $223K No change
AVTR Avantor Inc. 0.00% 14,049 $222K No change
VTRS Viatris Inc. 0.00% 24,664 $212K No change
OTEX Open Text Corp. 0.00% 8,359 $212K No change
INCY Incyte Corp. 0.00% 3,383 $206K No change
BSY Bentley Systems Inc. Class B 0.00% 5,032 $204K No change

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