APG Asset Management US Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), APG Asset Management US Inc. reported 189 stock positions worth $13.4 billion. Its top holding was Prologis (PLD) at 15.6% of the portfolio, followed by Digital Realty Trust (DLR, 11.0%) and Equinix (EQIX, 7.2%). Compared with Q1 2025, it opened 2 new positions, sold out of 16, added to 32 and reduced 26. The biggest buy was Ishr Ibx Usd Invgd CB ETF-Ui (LQD, shares +341%) and the biggest sale Alexandria Real Estate Equit (ARE, shares −2%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001323255
Portfolio Value
$13.4B (Q2 2025)
SEC Filing
0001323255-25-000026 ↗ filed Aug 12, 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 Q1 2025 Q2 2025: $13.4B $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 189 stocks · $13.4B
PLD Prologis Inc. 15.65% 19,629,905 $2.1B Add +0.2%
DLR Digital Realty Trust Inc. 11.04% 8,615,371 $1.5B No change
EQIX Equinix Inc. 7.18% 1,206,248 $959.4M Add +0.9%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 5.75% 11,430,639 $768.8M Reduce -0.8%
VTR Ventas Inc. 5.53% 11,758,485 $739.3M Add +1.1%
PSA Public Storage 4.84% 2,170,612 $647.0M Add +0.4%
INVH Invitation Homes Inc. 4.22% 17,222,569 $564.6M Add +3.8%
O Realty Income Corp. 3.73% 8,638,562 $499.3M Add +4.3%
ARE Alexandria Real Estate Equit 3.73% 6,693,105 $498.6M Reduce -2.0%
BXP BXP Inc. 3.65% 7,168,922 $488.3M Reduce -0.7%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 3.62% 4,428,000 $484.2M Add +340.6%
MAA Mid-America Apartment Comm 3.44% 3,084,318 $459.3M Add +0.5%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 3.24% 5,408,500 $433.6M Add +15.4%
EXR Extra Space Storage Inc. 2.85% 2,533,561 $381.3M No change
KIM Kimco Realty Corp. 2.00% 12,648,074 $267.9M No change
CUZ Cousins Properties Inc. 1.75% 7,860,791 $234.4M Add +1.6%
WELL Welltower Inc. 1.73% 1,521,684 $230.7M Add +7.1%
COLD Americold Realty Trust Inc. 1.68% 13,508,710 $224.9M No change
HR Healthcare Realty Trust Inc. 1.40% 11,855,023 $187.4M Add +16.8%
KRC Kilroy Realty Corp. 1.11% 4,287,628 $148.2M Reduce -7.0%
REG Regency Centers Corp. 1.08% 2,023,988 $143.9M No change
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.85% 3,450,812 $113.8M No change
SPG Simon Property Group Inc. 0.66% 540,385 $88.8M Reduce -3.9%
UDR Udr Inc. 0.50% 1,645,459 $67.2M No change
ESS Essex Property Trust Inc. 0.45% 212,048 $60.4M Add +80.8%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.44% 582,174 $58.2M No change
SBRA Sabra Health Care REIT Inc. 0.41% 2,992,091 $54.8M Add +35.6%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.39% 412,168 $52.6M No change
WPC WP Carey Inc. 0.38% 812,241 $51.2M Add +6.9%
EGP Eastgroup Properties Inc. 0.34% 268,354 $45.1M Add +198.9%
DOC Healthpeak Properties Inc. 0.30% 2,273,351 $40.6M Reduce -14.6%
VNO Vornado Realty Trust 0.28% 971,534 $37.1M Add +32.4%
NVDA Nvidia Corp. 0.27% 235,394 $36.1M Add +18.4%
AVGO Broadcom Inc. 0.24% 123,408 $32.7M Reduce -16.0%
ADC Agree Realty Corp. 0.24% 435,343 $31.7M Add +20.8%
BKLN Invesco Senior Loan ETF 0.23% 1,480,000 $31.0M No change
BRX Brixmor Property Group Inc. 0.22% 1,144,399 $29.8M No change
FRT Federal Realty Invs Trust 0.22% 314,532 $29.6M Reduce -17.7%
MSFT Microsoft Corp. 0.22% 59,861 $29.5M Reduce -3.6%
EPRT Essential Properties Realty 0.21% 881,079 $28.2M Reduce -3.0%
SKT Tanger Inc. 0.21% 887,091 $27.5M Add +44.5%
AVB Avalonbay Communities Inc. 0.19% 127,416 $25.9M Reduce -12.4%
RHP Ryman Hospitality Properties 0.17% 226,742 $23.0M Add +12.6%
AKR Acadia Realty Trust 0.15% 1,053,152 $19.6M No change
MAC The Macerich Co. 0.13% 1,041,591 $17.1M Reduce -28.6%
UE Urban Edge Properties 0.13% 892,720 $16.8M No change
EPR Epr Properties filed as EPR PPTYS 0.13% 287,278 $16.8M Add +88.1%
NTST Netstreit Corp. 0.11% 879,877 $15.0M No change
GRTUF Granite Real Estate Investme 0.09% 250,000 $12.7M No change
CURB Curbline Properties Corp. 0.09% 549,403 $12.5M No change
LLY Eli Lilly & Co. 0.09% 14,917 $11.6M No change
ORCL Oracle Corp. 0.09% 52,339 $11.5M No change
NSA National Storage Affiliates 0.08% 344,780 $11.3M No change
AHR American Healthcare REIT Inc. 0.08% 292,952 $10.6M No change
LINE Lineage Inc. 0.07% 215,025 $9.3M Add +80.6%
CRM Salesforce Inc. 0.07% 34,139 $9.3M Add +6.3%
SITC Site Centers Corp. filed as SITE CTRS CORP 0.07% 802,381 $9.2M No change
ANET Arista Networks Inc. 0.07% 88,547 $8.8M Add +61.9%
HST Host Hotels & Resorts Inc. 0.06% 525,647 $8.3M Reduce -50.0%
UMH Umh Properties Inc. filed as UMH PPTYS INC 0.06% 483,116 $8.2M No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.06% 460,001 $8.1M No change
APH Amphenol Corp. Class A 0.06% 82,660 $8.1M Add +127.0%
INTU Intuit Inc. 0.06% 9,828 $7.7M No change
ABBV Abbvie Inc. 0.05% 36,776 $7.0M Add +0.8%
NOW ServiceNow Inc. 0.05% 6,386 $6.5M No change
UNH Unitedhealth Group Inc. 0.05% 19,083 $6.2M No change
PLTR Palantir Technologies Inc. Class A 0.04% 44,809 $5.9M Reduce -13.3%
AMD Advanced Micro Devices 0.04% 42,321 $5.8M Reduce -8.5%
ACN Accenture PLC Class A 0.04% 17,709 $5.4M New
VRE Veris Residential Inc. 0.04% 336,124 $5.0M No change
REXR Rexford Industrial Realty Inc. 0.04% 136,630 $4.9M Reduce -77.5%
LRCX Lam Research Corp. 0.04% 49,925 $4.8M Add +24.9%
SNPS Synopsys Inc. 0.04% 9,011 $4.7M Add +51.4%
PANW Palo Alto Networks Inc. 0.03% 23,464 $4.6M No change
ADBE Adobe Inc. 0.03% 11,424 $4.5M No change
QCOM Qualcomm Inc. 0.03% 28,052 $4.5M Reduce -12.1%
SHOP Shopify Inc. Class A 0.03% 38,167 $4.4M No change
MRK Merck & Co. Inc. 0.03% 52,382 $4.3M No change
CRWD CrowdStrike Holdings Inc. Class A 0.03% 8,697 $4.3M No change
MU Micron Technology Inc. 0.03% 34,903 $4.2M No change
ISRG Intuitive Surgical Inc. 0.03% 7,448 $4.0M Add +1.4%
TMO Thermo Fisher Scientific Inc. 0.02% 7,894 $3.3M No change
AMGN Amgen Inc. 0.02% 11,104 $3.2M No change
BSX Boston Scientific Corp. 0.02% 30,432 $3.2M No change
TXN Texas Instruments Inc. 0.02% 15,125 $3.2M Reduce -32.9%
PFE Pfizer Inc. 0.02% 117,103 $2.9M No change
GILD Gilead Sciences Inc. 0.02% 25,728 $2.9M No change
SYK Stryker Corp. 0.02% 7,087 $2.8M No change
DHR Danaher Corp. 0.02% 13,432 $2.7M No change
KLAC KLA Corp. 0.02% 2,938 $2.6M Reduce -28.9%
CDNS Cadence Design SYS Inc. 0.02% 8,249 $2.6M No change
VRTX Vertex Pharmaceuticals Inc. 0.02% 5,334 $2.4M No change
MDT Medtronic PLC 0.02% 26,664 $2.4M New
CSCO Cisco Systems Inc. 0.02% 31,543 $2.2M Reduce -68.2%
DDOG Datadog Inc. Class A 0.02% 16,306 $2.2M Add +84.6%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.02% 5,761 $2.2M No change
ADSK Autodesk Inc. 0.02% 6,768 $2.1M No change
FTNT Fortinet Inc. 0.02% 20,467 $2.1M No change
INTC Intel Corp. 0.02% 91,268 $2.1M Reduce -23.1%
MRVL Marvell Technology Inc. 0.02% 26,667 $2.0M No change
BMY Bristol-Myers Squibb Co. 0.01% 41,897 $2.0M No change
AMAT Applied Materials Inc. 0.01% 10,767 $2.0M Reduce -51.2%
SNOW Snowflake Inc. 0.01% 9,102 $2.0M No change
ROP Roper Technologies Inc. 0.01% 3,375 $1.9M No change
NTNX Nutanix Inc. Class A 0.01% 25,240 $1.9M No change
ELV Elevance Health Inc. 0.01% 4,792 $1.9M No change
MCK McKesson Corp. 0.01% 2,605 $1.9M Reduce -2.8%
CI The Cigna Group 0.01% 5,636 $1.9M Reduce -2.4%
CVS CVS Health Corp. 0.01% 25,996 $1.8M No change
NXPI NXP Semiconductors NV 0.01% 7,850 $1.7M No change
WDAY Workday Inc. Class A 0.01% 6,705 $1.6M No change
TEL Te Connectivity PLC 0.01% 9,414 $1.6M No change
HCA HCA Healthcare Inc. 0.01% 3,839 $1.5M Reduce -4.0%
ZTS Zoetis Inc. 0.01% 9,362 $1.5M No change
FICO Fair Isaac Corp. 0.01% 752 $1.4M No change
GLW Corning Inc. 0.01% 25,590 $1.3M No change
CHKP Check Point Software Tech 0.01% 5,797 $1.3M Add +112.1%
CTSH Cognizant Tech Solutions-A 0.01% 15,603 $1.3M No change
DELL Dell Technologies -C 0.01% 9,985 $1.2M No change
REGN Regeneron Pharmaceuticals 0.01% 2,240 $1.2M No change
MPWR Monolithic Power Systems Inc. 0.01% 1,473 $1.1M No change
DT Dynatrace Inc. 0.01% 19,775 $1.1M No change
BDX Becton Dickinson and Co. 0.01% 5,973 $1.1M No change
TEAM Atlassian Corp. Class A 0.01% 5,038 $1.0M No change
IT Gartner Inc. 0.01% 2,426 $987K No change
ANSS Ansys Inc. 0.01% 2,751 $971K No change
STX Seagate Technology Holdings 0.01% 6,626 $961K No change
EW Edwards Lifesciences Corp. 0.01% 12,449 $961K No change
OKTA Okta Inc. 0.01% 9,706 $957K No change
ALC Alcon Inc. filed as ALCON AG 0.01% 10,326 $921K No change
VEEV Veeva Systems Inc. Class A 0.01% 3,179 $899K No change
HUBS HubSpot Inc. 0.01% 1,536 $857K No change
NET Cloudflare Inc. Class A 0.01% 4,591 $849K No change
ZS Zscaler Inc. 0.01% 2,721 $836K No change
CAH Cardinal Health Inc. 0.01% 5,000 $822K No change
JBL Jabil Inc. 0.01% 3,740 $808K No change
VRSN Verisign Inc. 0.01% 2,765 $799K No change
HPE Hewlett Packard Enterprise 0.01% 38,965 $798K No change
TYL Tyler Technologies Inc. 0.01% 1,343 $792K No change
GDDY GoDaddy Inc. Class A 0.01% 4,438 $792K No change
RMD Resmed Inc. 0.01% 3,033 $777K No change
CDW CDW Corp. 0.01% 4,205 $762K No change
TDY Teledyne Technologies Inc. 0.01% 1,473 $754K No change
GEHC GE Healthcare Technology 0.01% 9,437 $717K No change
A Agilent Technologies Inc. 0.01% 5,938 $715K No change
ON On Semiconductor 0.01% 13,008 $697K No change
WDC Western Digital Corp. 0.01% 10,882 $695K No change
DXCM Dexcom Inc. 0.01% 8,281 $692K No change
NTAP Netapp Inc. 0.01% 6,446 $688K No change
GIB Cgi Inc. 0.01% 6,411 $671K No change
PTC PTC Inc. 0.00% 3,782 $655K No change
HUM Humana Inc. 0.00% 2,488 $628K No change
CNC Centene Corp. 0.00% 10,871 $616K No change
IQV Iqvia Holdings Inc. 0.00% 3,767 $613K No change
ZM Zoom Communications Inc. 0.00% 7,839 $608K No change
TWLO Twilio Inc. Class A 0.00% 4,803 $563K No change
MTD Mettler-Toledo International 0.00% 441 $532K No change
GEN Gen Digital Inc. 0.00% 17,439 $520K No change
P Everpure Inc. Class A filed as PURE STORAGE INC 0.00% 9,340 $516K No change
ZBRA Zebra Technologies Corp. Class A 0.00% 1,624 $512K No change
CYBR Cyberark Software Ltd./Israel 0.00% 1,285 $503K No change
STE Steris PLC 0.00% 2,038 $495K No change
DOCU Docusign Inc. 0.00% 6,389 $494K No change
MDB Mongodb Inc. 0.00% 2,201 $453K No change
WAT Waters Corp. 0.00% 1,227 $438K No change
PODD Insulet Corp. 0.00% 1,449 $435K No change
DGX Quest Diagnostics Inc. 0.00% 2,300 $412K No change
ZBH Zimmer Biomet Holdings Inc. 0.00% 4,209 $396K No change
BIIB Biogen Inc. 0.00% 3,010 $392K No change
TEVA Teva Pharmaceutical-SP ADR 0.00% 23,412 $390K No change
MOH Molina Healthcare Inc. 0.00% 1,211 $371K No change
MNDY Monday.com Ltd. 0.00% 1,179 $358K No change
WST West Pharmaceutical Services 0.00% 1,499 $333K No change
BAX Baxter International Inc. 0.00% 10,543 $329K No change
ILMN Illumina Inc. 0.00% 3,284 $322K No change
HOLX Hologic Inc. 0.00% 4,800 $314K No change
MCHP Microchip Technology Inc. 0.00% 4,301 $308K Reduce -74.0%
ALGN Align Technology Inc. 0.00% 1,466 $285K No change
RPRX Royalty Pharma PLC Class A 0.00% 7,872 $282K No change
DSGX The Descartes Systems Grp 0.00% 2,691 $273K No change
IOT Samsara Inc. Class A 0.00% 6,877 $269K No change
WIX Wix.com Ltd. 0.00% 1,664 $268K No change
NBIX Neurocrine Biosciences Inc. 0.00% 2,087 $267K No change
UTHR United Therapeutics Corp. 0.00% 873 $254K No change
RVTY Revvity Inc. 0.00% 2,549 $252K No change
SOLV Solventum Corp. 0.00% 3,034 $236K No change
INCY Incyte Corp. 0.00% 3,383 $233K No change
BMRN Biomarin Pharmaceutical Inc. 0.00% 3,934 $221K No change
AVTR Avantor Inc. 0.00% 14,049 $196K No change

Portfolio Sells Q1 2025 → Q2 2025
ARE Alexandria Real Estate Equit Reduce -2.0% 3.73% −1.04
VMRK Vivmark Residential Reduce -0.8% 5.75% −0.54
REXR Rexford Industrial Realty Inc. Reduce -77.5% 0.04% −0.15
DOC Healthpeak Properties Inc. Reduce -14.6% 0.30% −0.10
IRT Independence Realty Trust Inc. Sold out 0.00% −0.08
SHO Sunstone Hotel Investors Inc. Sold out 0.00% −0.06
MAC The Macerich Co. Reduce -28.6% 0.13% −0.06
FRT Federal Realty Invs Trust Reduce -17.7% 0.22% −0.06
HST Host Hotels & Resorts Inc. Reduce -50.0% 0.06% −0.05
SPG Simon Property Group Inc. Reduce -3.9% 0.66% −0.05
KRC Kilroy Realty Corp. Reduce -7.0% 1.11% −0.05
BXP BXP Inc. Reduce -0.7% 3.65% −0.05
AVB Avalonbay Communities Inc. Reduce -12.4% 0.19% −0.05
CSCO Cisco Systems Inc. Reduce -68.2% 0.02% −0.03
CUBE Cubesmart Sold out 0.00% −0.02
MSI Motorola Solutions Inc. Sold out 0.00% −0.02
EPRT Essential Properties Realty Reduce -3.0% 0.21% −0.01
APP AppLovin Corp. Class A Sold out 0.00% −0.01
AMAT Applied Materials Inc. Reduce -51.2% 0.01% −0.01
TXN Texas Instruments Inc. Reduce -32.9% 0.02% −0.01
KEYS Keysight Technologies Inc. Sold out 0.00% −0.01
SMCI Super Micro Computer Inc. Sold out 0.00% −0.00
INTC Intel Corp. Reduce -23.1% 0.02% −0.00
QCOM Qualcomm Inc. Reduce -12.1% 0.03% −0.00
MCHP Microchip Technology Inc. Reduce -74.0% 0.00% −0.00
TRMB Trimble Inc. Sold out 0.00% −0.00
TER Teradyne Inc. Sold out 0.00% −0.00
AKAM Akamai Technologies Inc. Sold out 0.00% −0.00
MANH Manhattan Associates Inc. Sold out 0.00% −0.00
SWKS Skyworks Solutions Inc. Sold out 0.00% −0.00
EPAM Epam Systems Inc. Sold out 0.00% −0.00
KLAC KLA Corp. Reduce -28.9% 0.02% −0.00
BSY Bentley Systems Inc. Class B Sold out 0.00% −0.00
OTEX Open Text Corp. Sold out 0.00% −0.00
VTRS Viatris Inc. Sold out 0.00% −0.00
CI The Cigna Group Reduce -2.4% 0.01% −0.00
MCK McKesson Corp. Reduce -2.8% 0.01% +0.00
HCA HCA Healthcare Inc. Reduce -4.0% 0.01% +0.00
AMD Advanced Micro Devices Reduce -8.5% 0.04% +0.01
PLTR Palantir Technologies Inc. Class A Reduce -13.3% 0.04% +0.01
MSFT Microsoft Corp. Reduce -3.6% 0.22% +0.04
AVGO Broadcom Inc. Reduce -16.0% 0.24% +0.05

Portfolio Buys Q1 2025 → Q2 2025
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +340.6% 3.62% +2.78
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +15.4% 3.24% +0.42
EGP Eastgroup Properties Inc. Add +198.9% 0.34% +0.22
ESS Essex Property Trust Inc. Add +80.8% 0.45% +0.18
SBRA Sabra Health Care REIT Inc. Add +35.6% 0.41% +0.11
O Realty Income Corp. Add +4.3% 3.73% +0.11
NVDA Nvidia Corp. Add +18.4% 0.27% +0.10
HR Healthcare Realty Trust Inc. Add +16.8% 1.40% +0.09
VNO Vornado Realty Trust Add +32.4% 0.28% +0.07
EPR Epr Properties Add +88.1% 0.13% +0.06
WELL Welltower Inc. Add +7.1% 1.73% +0.05
SKT Tanger Inc. Add +44.5% 0.21% +0.05
APH Amphenol Corp. Class A Add +127.0% 0.06% +0.04
ACN Accenture PLC Class A New 0.04% +0.04
ANET Arista Networks Inc. Add +61.9% 0.07% +0.03
RHP Ryman Hospitality Properties Add +12.6% 0.17% +0.03
ADC Agree Realty Corp. Add +20.8% 0.24% +0.03
MDT Medtronic PLC New 0.02% +0.02
LINE Lineage Inc. Add +80.6% 0.07% +0.02
WPC WP Carey Inc. Add +6.9% 0.38% +0.02
SNPS Synopsys Inc. Add +51.4% 0.04% +0.02
LRCX Lam Research Corp. Add +24.9% 0.04% +0.01
CUZ Cousins Properties Inc. Add +1.6% 1.75% +0.01
DDOG Datadog Inc. Class A Add +84.6% 0.02% +0.01
CHKP Check Point Software Tech Add +112.1% 0.01% +0.00
CRM Salesforce Inc. Add +6.3% 0.07% +0.00
ISRG Intuitive Surgical Inc. Add +1.4% 0.03% +0.00
ABBV Abbvie Inc. Add +0.8% 0.05% −0.01
PSA Public Storage Add +0.4% 4.84% −0.11
INVH Invitation Homes Inc. Add +3.8% 4.22% −0.17
EQIX Equinix Inc. Add +0.9% 7.18% −0.30
MAA Mid-America Apartment Comm Add +0.5% 3.44% −0.50
VTR Ventas Inc. Add +1.1% 5.53% −0.65
PLD Prologis Inc. Add +0.2% 15.65% −1.08

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