PGGM Investments

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 24, 2024), PGGM Investments reported 365 stock positions worth $6.9 billion. Its top holding was Prologis (PLD) at 5.9% of the portfolio, followed by Equinix (EQIX, 5.0%) and Welltower (WELL, 3.3%). Compared with Q4 2023, it opened 55 new positions, sold out of 41, added to 126 and reduced 88. The biggest buy was Equinix (EQIX, shares +56%) and the biggest sale Digital Realty Trust (DLR, shares −75%).

Most Recent 13F
Q2 2026
Location
ZEIST, P7
CIK
0001472190
Portfolio Value
$6.9B (Q1 2024)
SEC Filing
0001472190-24-000004 ↗ filed May 24, 2024

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $6.9B $6.9B Q1 2024 Q2 2024: $7.0B Q2 2024 Q3 2024: $7.8B Q3 2024 Q4 2024: $7.5B Q4 2024 Q1 2025: $7.4B Q1 2025 Q2 2025: $5.8B Q2 2025 Q3 2025: $6.2B Q3 2025 Q4 2025: $6.3B Q4 2025 Q1 2026: $5.7B Q1 2026 Q2 2026: $4.1B Q2 2026

Holdings 365 stocks · $6.9B
PLD Prologis Inc. 5.86% 3,105,328 $404.4M Reduce -2.0%
EQIX Equinix Inc. 4.96% 414,217 $341.9M Add +55.8%
WELL Welltower Inc. 3.28% 2,418,507 $226.0M Reduce -2.0%
EXR Extra Space Storage Inc. 2.92% 1,369,446 $201.3M Add +2.8%
MSFT Microsoft Corp. 2.87% 470,679 $198.0M Add +32.4%
SPG Simon Property Group Inc. 2.76% 1,214,937 $190.1M Add +0.4%
NVDA Nvidia Corp. 2.61% 199,050 $179.9M Add +35.7%
INVH Invitation Homes Inc. 2.56% 4,965,248 $176.8M Add +4.9%
AAPL Apple Inc. 2.47% 991,643 $170.0M Add +13.8%
DOC Healthpeak Properties Inc. 1.77% 6,524,045 $122.3M Add +4.8%
REXR Rexford Industrial Realty Inc. 1.77% 2,431,927 $122.3M Add +3.9%
UDR Udr Inc. 1.74% 3,211,724 $120.2M Add +38.2%
WPC WP Carey Inc. 1.73% 2,109,122 $119.0M Add +0.1%
TMO Thermo Fisher Scientific Inc. 1.67% 198,517 $115.4M Add +0.8%
O Realty Income Corp. 1.58% 2,017,028 $109.1M Add +17.7%
MDT Medtronic PLC 1.40% 1,104,318 $96.2M No change
ESS Essex Property Trust Inc. 1.29% 362,252 $88.7M No change
ARE Alexandria Real Estate Equit 1.28% 685,983 $88.4M No change
CPT Camden Property Trust 1.21% 846,016 $83.2M Reduce -28.6%
GOOGL Alphabet Inc. Class A 1.20% 547,823 $82.7M Add +5.9%
META Meta Platforms Inc. Class A 1.19% 168,780 $82.0M Add +17.1%
LIN Linde PLC 1.11% 164,502 $76.4M Reduce -10.3%
ABT Abbott Laboratories 1.07% 649,215 $73.8M Add +0.2%
ITRI Itron Inc. 0.99% 738,139 $68.3M Reduce -16.6%
HST Host Hotels & Resorts Inc. 0.92% 3,053,756 $63.2M Add +3.1%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.89% 479,613 $61.7M Reduce -48.6%
FRT Federal Realty Invs Trust 0.89% 601,442 $61.4M Add +0.2%
SITC Site Centers Corp. filed as SITE CTRS CORP 0.88% 4,163,628 $61.0M No change
AMZN Amazon.com Inc. 0.88% 334,959 $60.4M Add +23.7%
KRC Kilroy Realty Corp. 0.86% 1,629,354 $59.4M Reduce -15.1%
PEB Pebblebrook Hotel Trust 0.85% 3,793,259 $58.5M No change
V Visa Inc. Class A 0.83% 204,034 $56.9M Add +7.4%
JPM JPMorgan Chase & Co. 0.81% 277,276 $55.5M Add +14.1%
ALB Albemarle Corp. 0.79% 413,492 $54.5M Add +261.6%
MA Mastercard Inc. Class A 0.78% 112,250 $54.1M Add +6.3%
EPR Epr Properties filed as EPR PPTYS 0.78% 1,272,738 $54.0M No change
HIW Highwoods Properties Inc. 0.77% 2,039,755 $53.4M No change
BRK.B Berkshire Hathaway Inc. Class B 0.73% 118,950 $50.0M Reduce -0.0%
AGRO Adecoagro SA 0.72% 4,500,000 $49.6M No change
DLR Digital Realty Trust Inc. 0.67% 321,521 $46.3M Reduce -74.9%
PSA Public Storage 0.65% 155,035 $45.0M Reduce -14.5%
CTVA Corteva Inc. 0.64% 763,023 $44.0M No change
KIM Kimco Realty Corp. 0.62% 2,173,757 $42.6M No change
BKNG Booking Holdings Inc. 0.60% 11,371 $41.3M No change
NEE Nextera Energy Inc. 0.57% 618,825 $39.5M Add +7.0%
SEDG Solaredge Technologies Inc. 0.55% 530,662 $37.7M Add +32.2%
CUBE Cubesmart 0.53% 809,749 $36.6M No change
REGN Regeneron Pharmaceuticals 0.50% 36,029 $34.7M No change
FMC FMC Corp. 0.48% 521,835 $33.2M No change
BRX Brixmor Property Group Inc. 0.48% 1,407,666 $33.0M No change
HAIN Hain Celestial Group Inc. 0.47% 4,131,942 $32.5M No change
AMH American Homes 4 Rent- A 0.47% 875,456 $32.2M New
ILMN Illumina Inc. 0.45% 227,578 $31.3M Add +7.4%
AMAT Applied Materials Inc. 0.42% 140,420 $29.0M Add +18.2%
PNR Pentair PLC 0.42% 336,666 $28.8M Reduce -14.5%
ADM Archer-Daniels-Midland Co. 0.40% 443,916 $27.9M Reduce -1.7%
HDB HDFC Bank Ltd.-ADR 0.40% 493,024 $27.6M New
CTAS Cintas Corp. 0.38% 37,715 $25.9M No change
NFLX Netflix Inc. 0.36% 41,421 $25.2M Add +55.4%
FICO Fair Isaac Corp. 0.34% 18,623 $23.3M No change
KLAC KLA Corp. 0.33% 32,117 $22.4M No change
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.33% 22,042 $22.4M No change
GE General Electric 0.32% 127,201 $22.3M Add +0.5%
ADBE Adobe Inc. 0.32% 43,900 $22.2M Add +1.4%
CMCSA Comcast Corp. Class A 0.32% 507,077 $22.0M Add +0.8%
COR Cencora Inc. 0.32% 89,908 $21.8M Reduce -3.5%
MCK McKesson Corp. 0.31% 40,091 $21.5M Reduce -20.8%
CAT Caterpillar Inc. 0.31% 57,832 $21.2M Add +5.5%
IT Gartner Inc. 0.29% 42,247 $20.1M No change
ORLY O'reilly Automotive Inc. 0.28% 17,407 $19.6M Reduce -0.6%
MRSH Marsh & McLennan Cos 0.28% 92,676 $19.1M Reduce -2.2%
ITW Illinois Tool Works 0.27% 70,391 $18.9M No change
FAST Fastenal Co. 0.27% 242,999 $18.7M Add +1.0%
CAH Cardinal Health Inc. 0.26% 162,256 $18.2M Reduce -3.8%
NVR NVR Inc. 0.26% 2,207 $17.9M No change
MCD McDonald's Corp. 0.26% 62,452 $17.6M Reduce -11.2%
LRCX Lam Research Corp. 0.26% 18,107 $17.6M Add +22.5%
ARGX Argenx SE - ADR 0.25% 44,586 $17.6M No change
YUM Yum! Brands Inc. 0.25% 126,037 $17.5M Reduce -2.6%
OTIS Otis Worldwide Corp. 0.24% 170,081 $16.9M No change
MTD Mettler-Toledo International 0.24% 12,589 $16.8M No change
C Citigroup Inc. 0.24% 263,873 $16.7M Add +51.2%
PG The Procter & Gamble Co. 0.24% 101,393 $16.5M Reduce -48.3%
PHM Pultegroup Inc. 0.24% 135,834 $16.4M Add +0.8%
AFL Aflac Inc. 0.24% 190,775 $16.4M Reduce -1.7%
WMS Advanced Drainage Systems Inc. 0.22% 88,369 $15.2M Reduce -38.0%
VRSN Verisign Inc. 0.22% 79,903 $15.1M Add +0.8%
TT Trane Technologies PLC 0.22% 49,656 $14.9M Add +4.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.21% 142,217 $14.4M Reduce -0.6%
EXPD Expeditors Intl Wash Inc. 0.21% 118,641 $14.4M No change
AME Ametek Inc. 0.21% 77,744 $14.2M Reduce -2.3%
SEIC Sei Investments Company 0.20% 195,352 $14.0M No change
SNA Snap-on Inc. 0.20% 46,791 $13.9M No change
AZO AutoZone Inc. 0.20% 4,315 $13.6M No change
AWK American Water Works Co. Inc. 0.20% 110,749 $13.5M Reduce -32.4%
LEN Lennar Corp. Class A 0.20% 78,364 $13.5M Add +3.9%
L Loews Corp. 0.19% 170,397 $13.3M Reduce -1.4%
HCA HCA Healthcare Inc. 0.19% 39,575 $13.2M No change
SNPS Synopsys Inc. 0.19% 22,907 $13.1M No change
CB Chubb Ltd. 0.19% 50,281 $13.0M Reduce -2.3%

Show all 365 holdings

Portfolio Sells Q4 2023 → Q1 2024
DLR Digital Realty Trust Inc. Reduce -74.9% 0.67% −1.95
SUI Sun Communities Inc. Reduce -48.6% 0.89% −1.01
CPT Camden Property Trust Reduce -28.6% 1.21% −0.58
PLD Prologis Inc. Reduce -2.0% 5.86% −0.57
KRC Kilroy Realty Corp. Reduce -15.1% 0.86% −0.30
PEP Pepsico Inc. Reduce -87.5% 0.04% −0.28
KO The Coca-Cola Co. Reduce -59.1% 0.15% −0.23
PG The Procter & Gamble Co. Reduce -48.3% 0.24% −0.20
MPC Marathon Petroleum Corp. Sold out 0.00% −0.20
PSA Public Storage Reduce -14.5% 0.65% −0.19
CSCO Cisco Systems Inc. Reduce -84.4% 0.03% −0.18
UNH Unitedhealth Group Inc. Reduce -77.7% 0.04% −0.17
CF CF Industries Holdings Inc. Sold out 0.00% −0.15
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.15
XOM Exxon Mobil Corp. Sold out 0.00% −0.15
CHKP Check Point Software Tech Sold out 0.00% −0.14
SBS Cia Saneamento Basico DE-ADR Sold out 0.00% −0.14
CCEP Coca-Cola Europacific Partne Reduce -68.5% 0.06% −0.14
SFM Sprouts Farmers Market Inc. Reduce -58.1% 0.16% −0.14
AWK American Water Works Co. Inc. Reduce -32.4% 0.20% −0.13
VLO Valero Energy Corp. Sold out 0.00% −0.13
LNG Cheniere Energy Inc. Sold out 0.00% −0.12
WELL Welltower Inc. Reduce -2.0% 3.28% −0.11
PSX Phillips 66 Sold out 0.00% −0.10
PK Park Hotels & Resorts Inc. Sold out 0.00% −0.10
ADM Archer-Daniels-Midland Co. Reduce -1.7% 0.40% −0.09
KMB Kimberly-Clark Corp. Reduce -77.4% 0.03% −0.09
CL Colgate-Palmolive Co. Reduce -56.3% 0.08% −0.09
WMS Advanced Drainage Systems Inc. Reduce -38.0% 0.22% −0.08
AYI Acuity Inc. Sold out 0.00% −0.08
HSY The Hershey Co. Sold out 0.00% −0.07
MRK Merck & Co. Inc. Reduce -79.2% 0.02% −0.07
MCD McDonald's Corp. Reduce -11.2% 0.26% −0.06
EOG EOG Resources Inc. Sold out 0.00% −0.06
MNST Monster Beverage Corp. Sold out 0.00% −0.06
ED Consolidated Edison Inc. Reduce -70.2% 0.02% −0.05
GILD Gilead Sciences Inc. Reduce -36.8% 0.06% −0.05
CHD Church & Dwight Co. Inc. Sold out 0.00% −0.05
LW Lamb Weston Holdings Inc. Reduce -47.2% 0.04% −0.04
MCK McKesson Corp. Reduce -20.8% 0.31% −0.04
HUM Humana Inc. Sold out 0.00% −0.04
PXD Pioneer Natural Resources Co. Sold out 0.00% −0.04
PFE Pfizer Inc. Sold out 0.00% −0.04
CVX Chevron Corp. Sold out 0.00% −0.04
LIN Linde PLC Reduce -10.3% 1.11% −0.04
CBSH Commerce Bancshares Inc. Reduce -37.0% 0.05% −0.03
BKR Baker Hughes Co. Sold out 0.00% −0.03
BF.B Brown-Forman Corp. Class B Reduce -48.5% 0.03% −0.03
SPLK Splunk Inc. Sold out 0.00% −0.03
ORCL Oracle Corp. Sold out 0.00% −0.03

Portfolio Buys Q4 2023 → Q1 2024
EQIX Equinix Inc. Add +55.8% 4.96% +1.70
NVDA Nvidia Corp. Add +35.7% 2.61% +1.50
MSFT Microsoft Corp. Add +32.4% 2.87% +0.84
ALB Albemarle Corp. Add +261.6% 0.79% +0.54
AMH American Homes 4 Rent- A New 0.47% +0.47
META Meta Platforms Inc. Class A Add +17.1% 1.19% +0.41
HDB HDFC Bank Ltd.-ADR New 0.40% +0.40
UDR Udr Inc. Add +38.2% 1.74% +0.39
AMZN Amazon.com Inc. Add +23.7% 0.88% +0.25
JPM JPMorgan Chase & Co. Add +14.1% 0.81% +0.18
NFLX Netflix Inc. Add +55.4% 0.36% +0.17
QCOM Qualcomm Inc. Add +2512.8% 0.14% +0.13
SPG Simon Property Group Inc. Add +0.4% 2.76% +0.13
AMAT Applied Materials Inc. Add +18.2% 0.42% +0.13
BAC Bank of America Corp. Add +668.7% 0.13% +0.11
INVH Invitation Homes Inc. Add +4.9% 2.56% +0.11
C Citigroup Inc. Add +51.2% 0.24% +0.11
BLDR Builders Firstsource Inc. Add +174.7% 0.15% +0.10
GOOGL Alphabet Inc. Class A Add +5.9% 1.20% +0.10
MA Mastercard Inc. Class A Add +6.3% 0.78% +0.10
CRM Salesforce Inc. Add +71.3% 0.18% +0.09
O Realty Income Corp. Add +17.7% 1.58% +0.08
COF Capital One Financial Corp. Add +2868.8% 0.09% +0.08
HD Home Depot Inc. Add +264.1% 0.11% +0.08
IBM Intl Business Machines Corp. Add +115.6% 0.14% +0.08
TMO Thermo Fisher Scientific Inc. Add +0.8% 1.67% +0.08
AXP American Express Co. Add +57.1% 0.18% +0.08
LRCX Lam Research Corp. Add +22.5% 0.26% +0.08
GE General Electric Add +0.5% 0.32% +0.08
V Visa Inc. Class A Add +7.4% 0.83% +0.07
MAS Masco Corp. Add +56.0% 0.17% +0.07
ACN Accenture PLC Class A Add +428.3% 0.08% +0.06
CAT Caterpillar Inc. Add +5.5% 0.31% +0.06
GS Goldman Sachs Group Inc. Add +341.8% 0.07% +0.05
PRU Prudential Financial Inc. Add +1513.8% 0.06% +0.05
EXPE Expedia Group Inc. Add +79.8% 0.15% +0.05
SYF Synchrony Financial Add +91.4% 0.10% +0.05
NLY Annaly Capital Management Inc. New 0.05% +0.05
BNY Bank of New York Mellon Corp. Add +39.4% 0.15% +0.05
ALLY Ally Financial Inc. New 0.05% +0.05
FISV Fiserv Inc. Add +25.9% 0.14% +0.04
PLTR Palantir Technologies Inc. Class A New 0.04% +0.04
FBIN Fortune Brands Innovations I Add +412.6% 0.05% +0.04
CSX CSX Corp. Add +141.7% 0.07% +0.04
TROW T Rowe Price Group Inc. Add +1080.1% 0.05% +0.04
MCHP Microchip Technology Inc. Add +130.9% 0.07% +0.04
TT Trane Technologies PLC Add +4.1% 0.22% +0.04
NEE Nextera Energy Inc. Add +7.0% 0.57% +0.04
VST Vistra Corp. Add +559.2% 0.04% +0.04
NOW ServiceNow Inc. Add +483.3% 0.05% +0.04

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 59$4.1BNVDA, GOOGL, TMO, LLY, LIN
Q1 2026 67$5.7BWELL, PLD, EQIX, ALB, EXR
Q4 2025 66$6.3BWELL, PLD, EQIX, TMO, MSFT
Q3 2025 66$6.2BWELL, EQIX, PLD, EXR, MSFT
Q2 2025 68$5.8BWELL, EQIX, EXR, PLD, MSFT
Q1 2025 347$7.4BWELL, EQIX, AAPL, PLD, NVDA
Q4 2024 345$7.5BEQIX, WELL, AAPL, NVDA, SPG
Q3 2024 348$7.8BEQIX, WELL, PLD, AAPL, EXR
Q2 2024 344$7.0BEQIX, NVDA, WELL, PLD, MSFT
Q1 2024 365$6.9BPLD, EQIX, WELL, EXR, MSFT