APG Asset Management US Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), APG Asset Management US Inc. reported 184 stock positions worth $13.6 billion. Its top holding was Prologis (PLD) at 16.9% of the portfolio, followed by Digital Realty Trust (DLR, 10.9%) and Equinix (EQIX, 6.9%). Compared with Q2 2025, it opened 4 new positions, sold out of 9, added to 22 and reduced 14. The biggest buy was Prologis (PLD, shares +0%) and the biggest sale Ishr Ibx Usd Invgd CB ETF-Ui (LQD, shares −22%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001323255
Portfolio Value
$13.6B (Q3 2025)
SEC Filing
0001323255-25-000030 ↗ filed Nov 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 Q2 2025 Q3 2025: $13.6B $13.6B Q3 2025 Q4 2025: $12.8B Q4 2025 Q1 2026: $13.0B Q1 2026 Q2 2026: $14.3B Q2 2026

Holdings 184 stocks · $13.6B
PLD Prologis Inc. 16.89% 19,656,247 $2.3B Add +0.1%
DLR Digital Realty Trust Inc. 10.92% 8,638,801 $1.5B Add +0.3%
EQIX Equinix Inc. 6.91% 1,211,357 $937.5M Add +0.4%
VTR Ventas Inc. 6.10% 11,758,485 $826.9M No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 5.36% 11,346,098 $727.3M Reduce -0.7%
PSA Public Storage 4.68% 2,184,979 $635.1M Add +0.7%
BXP BXP Inc. 4.17% 7,401,513 $564.9M Add +3.2%
ARE Alexandria Real Estate Equit 4.12% 6,693,105 $558.6M No change
O Realty Income Corp. 3.77% 8,445,467 $510.6M Reduce -2.2%
INVH Invitation Homes Inc. 3.66% 17,083,708 $495.6M Reduce -0.8%
MAA Mid-America Apartment Comm 3.07% 3,018,014 $416.5M Reduce -2.1%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 2.83% 3,441,813 $383.8M Reduce -22.3%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 2.77% 4,634,500 $375.2M Reduce -14.3%
EXR Extra Space Storage Inc. 2.64% 2,533,561 $357.6M No change
WELL Welltower Inc. 2.11% 1,592,764 $285.7M Add +4.7%
KIM Kimco Realty Corp. 2.01% 12,648,074 $272.2M No change
CUZ Cousins Properties Inc. 1.64% 7,668,526 $222.8M Reduce -2.5%
HR Healthcare Realty Trust Inc. 1.64% 12,086,673 $222.0M Add +1.9%
KRC Kilroy Realty Corp. 1.33% 4,287,628 $180.7M No change
COLD Americold Realty Trust Inc. 1.10% 12,139,704 $149.4M Reduce -10.1%
REG Regency Centers Corp. 1.08% 2,023,988 $145.9M No change
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.84% 3,450,812 $113.6M No change
SPG Simon Property Group Inc. 0.74% 540,385 $100.4M No change
WPC WP Carey Inc. 0.46% 916,606 $62.8M Add +12.8%
UDR Udr Inc. 0.45% 1,645,459 $60.8M No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.44% 582,174 $59.5M No change
ESS Essex Property Trust Inc. 0.42% 212,048 $56.5M No change
SBRA Sabra Health Care REIT Inc. 0.41% 2,992,091 $54.9M No change
EGP Eastgroup Properties Inc. 0.38% 300,159 $51.7M Add +11.8%
DOC Healthpeak Properties Inc. 0.32% 2,273,351 $43.6M No change
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.32% 337,138 $43.3M Reduce -18.2%
NVDA Nvidia Corp. 0.31% 226,405 $42.4M Reduce -3.8%
AVGO Broadcom Inc. 0.30% 123,408 $41.1M No change
BRX Brixmor Property Group Inc. 0.28% 1,405,763 $38.4M Add +22.8%
VNO Vornado Realty Trust 0.25% 824,054 $34.0M Reduce -15.2%
FRT Federal Realty Invs Trust 0.23% 314,532 $31.3M No change
ADC Agree Realty Corp. 0.23% 435,343 $31.2M No change
MSFT Microsoft Corp. 0.23% 59,861 $31.1M No change
BKLN Invesco Senior Loan ETF 0.23% 1,480,000 $30.9M No change
SKT Tanger Inc. 0.22% 887,091 $30.0M No change
EPRT Essential Properties Realty 0.19% 881,079 $26.4M No change
MAC The Macerich Co. 0.18% 1,351,135 $24.3M Add +29.7%
RHP Ryman Hospitality Properties 0.15% 226,742 $20.3M No change
AVB Avalonbay Communities Inc. 0.15% 105,849 $20.3M Reduce -16.9%
UE Urban Edge Properties 0.13% 892,720 $18.2M No change
NTST Netstreit Corp. 0.13% 956,127 $17.5M Add +8.7%
AKR Acadia Realty Trust 0.13% 838,642 $17.1M Reduce -20.4%
EPR Epr Properties filed as EPR PPTYS 0.12% 287,278 $16.8M No change
ORCL Oracle Corp. 0.11% 52,339 $15.1M No change
REXR Rexford Industrial Realty Inc. 0.11% 350,557 $14.7M Add +156.6%
GRTUF Granite Real Estate Investme 0.10% 250,000 $14.0M No change
LLY Eli Lilly & Co. 0.09% 15,015 $12.4M Add +0.7%
CURB Curbline Properties Corp. 0.09% 549,403 $12.3M No change
AHR American Healthcare REIT Inc. 0.09% 292,952 $12.3M No change
ANET Arista Networks Inc. 0.08% 76,981 $11.5M Reduce -13.1%
CRM Salesforce Inc. 0.08% 44,606 $10.5M Add +30.7%
VRE Veris Residential Inc. 0.08% 696,155 $10.5M Add +107.1%
NSA National Storage Affiliates 0.08% 344,780 $10.4M No change
APH Amphenol Corp. Class A 0.08% 82,660 $10.3M No change
ABBV Abbvie Inc. 0.07% 37,008 $9.0M Add +0.6%
PLTR Palantir Technologies Inc. Class A 0.06% 44,809 $8.3M No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.06% 460,001 $7.5M No change
SITC Site Centers Corp. filed as SITE CTRS CORP 0.05% 802,381 $7.2M No change
LRCX Lam Research Corp. 0.05% 49,925 $7.1M No change
UMH Umh Properties Inc. filed as UMH PPTYS INC 0.05% 483,116 $7.1M No change
AMD Advanced Micro Devices 0.05% 42,321 $6.9M No change
FR First Industrial Realty TR 0.05% 132,600 $6.9M New
INTU Intuit Inc. 0.05% 9,828 $6.7M No change
UNH Unitedhealth Group Inc. 0.05% 19,083 $6.6M No change
MU Micron Technology Inc. 0.05% 34,903 $6.4M No change
NOW ServiceNow Inc. 0.04% 6,386 $5.8M No change
SHOP Shopify Inc. Class A 0.04% 38,167 $5.7M No change
PEB Pebblebrook Hotel Trust 0.04% 494,211 $5.5M New
XHR Xenia Hotels & Resorts Inc. 0.04% 388,747 $5.3M New
PGRE Paramount Group Inc. 0.04% 784,067 $5.1M New
SNPS Synopsys Inc. 0.04% 9,946 $4.9M Add +10.4%
PANW Palo Alto Networks Inc. 0.04% 23,464 $4.9M No change
MRK Merck & Co. Inc. 0.03% 52,382 $4.7M No change
QCOM Qualcomm Inc. 0.03% 28,052 $4.7M No change
CRWD CrowdStrike Holdings Inc. Class A 0.03% 8,697 $4.3M No change
ACN Accenture PLC Class A 0.03% 17,709 $4.3M No change
TMO Thermo Fisher Scientific Inc. 0.03% 7,894 $4.2M No change
ADBE Adobe Inc. 0.03% 11,424 $3.9M No change
AMGN Amgen Inc. 0.02% 11,265 $3.4M Add +1.4%
KLAC KLA Corp. 0.02% 2,938 $3.3M No change
INTC Intel Corp. 0.02% 91,268 $3.3M No change
ISRG Intuitive Surgical Inc. 0.02% 7,448 $3.3M No change
PFE Pfizer Inc. 0.02% 119,114 $3.2M Add +1.7%
BSX Boston Scientific Corp. 0.02% 30,996 $3.0M Add +1.9%
CDNS Cadence Design SYS Inc. 0.02% 8,249 $2.9M No change
GILD Gilead Sciences Inc. 0.02% 25,728 $2.9M No change
DHR Danaher Corp. 0.02% 13,432 $2.9M No change
TXN Texas Instruments Inc. 0.02% 15,125 $2.7M No change
SYK Stryker Corp. 0.02% 7,206 $2.6M Add +1.7%
MDT Medtronic PLC 0.02% 26,664 $2.5M No change
DDOG Datadog Inc. Class A 0.02% 16,306 $2.5M No change
AMAT Applied Materials Inc. 0.02% 10,767 $2.3M No change
MRVL Marvell Technology Inc. 0.02% 26,667 $2.2M No change
CSCO Cisco Systems Inc. 0.02% 31,543 $2.2M No change
VRTX Vertex Pharmaceuticals Inc. 0.02% 5,334 $2.2M No change

Show all 184 holdings

Portfolio Sells Q2 2025 → Q3 2025
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -22.3% 2.83% −0.79
COLD Americold Realty Trust Inc. Reduce -10.1% 1.10% −0.58
INVH Invitation Homes Inc. Reduce -0.8% 3.66% −0.57
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -14.3% 2.77% −0.48
VMRK Vivmark Residential Reduce -0.7% 5.36% −0.39
MAA Mid-America Apartment Comm Reduce -2.1% 3.07% −0.36
CUZ Cousins Properties Inc. Reduce -2.5% 1.64% −0.11
SUI Sun Communities Inc. Reduce -18.2% 0.32% −0.07
LINE Lineage Inc. Sold out 0.00% −0.07
HST Host Hotels & Resorts Inc. Sold out 0.00% −0.06
AVB Avalonbay Communities Inc. Reduce -16.9% 0.15% −0.04
VNO Vornado Realty Trust Reduce -15.2% 0.25% −0.03
AKR Acadia Realty Trust Reduce -20.4% 0.13% −0.02
ANSS Ansys Inc. Sold out 0.00% −0.01
P Everpure Inc. Class A Sold out 0.00% −0.00
MNDY Monday.com Ltd. Sold out 0.00% −0.00
ALGN Align Technology Inc. Sold out 0.00% −0.00
DSGX The Descartes Systems Grp Sold out 0.00% −0.00
WIX Wix.com Ltd. Sold out 0.00% −0.00
AVTR Avantor Inc. Sold out 0.00% −0.00
ANET Arista Networks Inc. Reduce -13.1% 0.08% +0.02
O Realty Income Corp. Reduce -2.2% 3.77% +0.03
NVDA Nvidia Corp. Reduce -3.8% 0.31% +0.04

Portfolio Buys Q2 2025 → Q3 2025
PLD Prologis Inc. Add +0.1% 16.89% +1.24
BXP BXP Inc. Add +3.2% 4.17% +0.51
WELL Welltower Inc. Add +4.7% 2.11% +0.38
HR Healthcare Realty Trust Inc. Add +1.9% 1.64% +0.24
WPC WP Carey Inc. Add +12.8% 0.46% +0.08
REXR Rexford Industrial Realty Inc. Add +156.6% 0.11% +0.07
BRX Brixmor Property Group Inc. Add +22.8% 0.28% +0.06
MAC The Macerich Co. Add +29.7% 0.18% +0.05
FR First Industrial Realty TR New 0.05% +0.05
EGP Eastgroup Properties Inc. Add +11.8% 0.38% +0.04
PEB Pebblebrook Hotel Trust New 0.04% +0.04
VRE Veris Residential Inc. Add +107.1% 0.08% +0.04
XHR Xenia Hotels & Resorts Inc. New 0.04% +0.04
PGRE Paramount Group Inc. New 0.04% +0.04
NTST Netstreit Corp. Add +8.7% 0.13% +0.02
ABBV Abbvie Inc. Add +0.6% 0.07% +0.01
CRM Salesforce Inc. Add +30.7% 0.08% +0.01
LLY Eli Lilly & Co. Add +0.7% 0.09% +0.00
PFE Pfizer Inc. Add +1.7% 0.02% +0.00
AMGN Amgen Inc. Add +1.4% 0.02% +0.00
SNPS Synopsys Inc. Add +10.4% 0.04% +0.00
SYK Stryker Corp. Add +1.7% 0.02% −0.00
BSX Boston Scientific Corp. Add +1.9% 0.02% −0.00
DLR Digital Realty Trust Inc. Add +0.3% 10.92% −0.11
PSA Public Storage Add +0.7% 4.68% −0.16
EQIX Equinix Inc. Add +0.4% 6.91% −0.26

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