PGGM Investments
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 16, 2024), PGGM Investments reported 344 stock positions worth $7.0 billion. Its top holding was Equinix (EQIX) at 4.8% of the portfolio, followed by Nvidia (NVDA, 3.6%) and Welltower (WELL, 3.5%). Compared with Q1 2024, it opened 16 new positions, sold out of 39, added to 139 and reduced 107. The biggest buy was Equity Lifestyle Properties (ELS, shares +4586%) and the biggest sale Prologis (PLD, shares −34%).
- Most Recent 13F
- Q2 2026
- Location
- ZEIST, P7
- CIK
- 0001472190
- Portfolio Value
- $7.0B (Q2 2024)
- SEC Filing
- 0001472190-24-000005 ↗ filed Jul 16, 2024
Holdings Value
Holdings 344 stocks · $7.0B
| EQIX Equinix Inc. | 4.80% | 443,350 | $335.4M | Add +7.0% |
| NVDA Nvidia Corp. | 3.58% | 2,024,561 | $250.1M | Add +1.7% |
| WELL Welltower Inc. | 3.47% | 2,328,566 | $242.8M | Reduce -3.7% |
| PLD Prologis Inc. | 3.29% | 2,043,892 | $229.6M | Reduce -34.2% |
| MSFT Microsoft Corp. | 3.07% | 479,468 | $214.3M | Add +1.9% |
| EXR Extra Space Storage Inc. | 2.90% | 1,302,667 | $202.4M | Reduce -4.9% |
| AAPL Apple Inc. | 2.81% | 931,497 | $196.2M | Reduce -6.1% |
| SPG Simon Property Group Inc. | 2.69% | 1,238,123 | $187.9M | Add +1.9% |
| INVH Invitation Homes Inc. | 2.55% | 4,969,914 | $178.4M | Add +0.1% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 2.15% | 1,246,739 | $150.0M | Add +159.9% |
| DOC Healthpeak Properties Inc. | 2.06% | 7,338,914 | $143.8M | Add +12.5% |
| GOOGL Alphabet Inc. Class A | 1.98% | 761,266 | $138.7M | Add +39.0% |
| WPC WP Carey Inc. | 1.97% | 2,498,975 | $137.6M | Add +18.5% |
| UDR Udr Inc. | 1.87% | 3,176,167 | $130.7M | Reduce -1.1% |
| REXR Rexford Industrial Realty Inc. | 1.81% | 2,833,520 | $126.3M | Add +16.5% |
| ELS Equity Lifestyle Properties | 1.72% | 1,843,496 | $120.1M | Add +4586.1% |
| COLD Americold Realty Trust Inc. | 1.64% | 4,480,675 | $114.4M | New |
| TMO Thermo Fisher Scientific Inc. | 1.60% | 201,652 | $111.5M | Add +1.6% |
| REG Regency Centers Corp. | 1.49% | 1,670,607 | $103.9M | Add +2586.9% |
| HIW Highwoods Properties Inc. | 1.36% | 3,629,485 | $95.3M | Add +77.9% |
| KRC Kilroy Realty Corp. | 1.35% | 3,015,046 | $94.0M | Add +85.0% |
| MDT Medtronic PLC | 1.27% | 1,122,893 | $88.4M | Add +1.7% |
| BRX Brixmor Property Group Inc. | 1.24% | 3,761,248 | $86.8M | Add +167.2% |
| META Meta Platforms Inc. Class A | 1.19% | 164,879 | $83.1M | Reduce -2.3% |
| O Realty Income Corp. | 1.09% | 1,439,953 | $76.1M | Reduce -28.6% |
| ADC Agree Realty Corp. | 1.01% | 1,133,761 | $70.2M | New |
| AMZN Amazon.com Inc. | 0.97% | 349,715 | $67.6M | Add +4.4% |
| ABT Abbott Laboratories | 0.97% | 649,145 | $67.5M | Reduce -0.0% |
| LIN Linde PLC | 0.96% | 152,918 | $67.1M | Reduce -7.0% |
| ITRI Itron Inc. | 0.86% | 609,705 | $60.3M | Reduce -17.4% |
| JPM JPMorgan Chase & Co. | 0.84% | 289,079 | $58.5M | Add +4.3% |
| HST Host Hotels & Resorts Inc. | 0.80% | 3,113,528 | $56.0M | Add +2.0% |
| V Visa Inc. Class A | 0.79% | 209,099 | $54.9M | Add +2.5% |
| MA Mastercard Inc. Class A | 0.73% | 115,475 | $50.9M | Add +2.9% |
| DLR Digital Realty Trust Inc. | 0.70% | 320,360 | $48.7M | Reduce -0.4% |
| ALB Albemarle Corp. | 0.69% | 505,731 | $48.3M | Add +22.3% |
| PSA Public Storage | 0.69% | 167,431 | $48.2M | Add +8.0% |
| BKNG Booking Holdings Inc. | 0.64% | 11,371 | $45.0M | No change |
| PEB Pebblebrook Hotel Trust | 0.64% | 3,240,516 | $44.6M | Reduce -14.6% |
| AGRO Adecoagro SA | 0.63% | 4,500,000 | $43.8M | No change |
| ILMN Illumina Inc. | 0.61% | 411,362 | $42.9M | Add +80.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.59% | 101,259 | $41.2M | Reduce -14.9% |
| CTVA Corteva Inc. | 0.59% | 763,023 | $41.2M | No change |
| ROP Roper Technologies Inc. | 0.59% | 72,596 | $40.9M | Add +739.4% |
| CUBE Cubesmart | 0.56% | 868,769 | $39.2M | Add +7.3% |
| REGN Regeneron Pharmaceuticals | 0.49% | 32,728 | $34.4M | Reduce -9.2% |
| AMAT Applied Materials Inc. | 0.47% | 139,128 | $32.8M | Reduce -0.9% |
| AMH American Homes 4 Rent- A | 0.47% | 875,456 | $32.5M | No change |
| HDB HDFC Bank Ltd.-ADR | 0.45% | 493,024 | $31.7M | No change |
| FMC FMC Corp. | 0.43% | 521,835 | $30.0M | No change |
| NFLX Netflix Inc. | 0.42% | 43,841 | $29.6M | Add +5.8% |
| CAT Caterpillar Inc. | 0.41% | 87,044 | $29.0M | Add +50.5% |
| HAIN Hain Celestial Group Inc. | 0.41% | 4,183,854 | $28.9M | Add +1.3% |
| ARGX Argenx SE - ADR | 0.40% | 64,409 | $27.7M | Add +44.5% |
| FICO Fair Isaac Corp. | 0.39% | 18,523 | $27.6M | Reduce -0.5% |
| PG The Procter & Gamble Co. | 0.38% | 161,907 | $26.7M | Add +59.7% |
| KLAC KLA Corp. | 0.38% | 32,117 | $26.5M | No change |
| CTAS Cintas Corp. | 0.38% | 37,715 | $26.4M | No change |
| ADM Archer-Daniels-Midland Co. | 0.37% | 426,138 | $25.8M | Reduce -4.0% |
| PNR Pentair PLC | 0.34% | 309,316 | $23.7M | Reduce -8.1% |
| LRCX Lam Research Corp. | 0.34% | 22,093 | $23.5M | Add +22.0% |
| MCK McKesson Corp. | 0.33% | 39,991 | $23.4M | Reduce -0.3% |
| CMCSA Comcast Corp. Class A | 0.31% | 553,147 | $21.7M | Add +9.1% |
| NEE Nextera Energy Inc. | 0.30% | 291,931 | $20.7M | Reduce -52.8% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.28% | 22,042 | $19.9M | No change |
| ITW Illinois Tool Works | 0.28% | 81,850 | $19.4M | Add +16.3% |
| MRSH Marsh & McLennan Cos | 0.28% | 91,197 | $19.2M | Reduce -1.6% |
| COR Cencora Inc. | 0.27% | 84,688 | $19.1M | Reduce -5.8% |
| TT Trane Technologies PLC | 0.26% | 55,596 | $18.3M | Add +12.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.26% | 164,726 | $18.1M | Add +15.8% |
| C Citigroup Inc. | 0.25% | 278,757 | $17.7M | Add +5.6% |
| MTD Mettler-Toledo International | 0.25% | 12,589 | $17.6M | No change |
| IT Gartner Inc. | 0.25% | 39,163 | $17.6M | Reduce -7.3% |
| ADBE Adobe Inc. | 0.24% | 30,668 | $17.0M | Reduce -30.1% |
| AFL Aflac Inc. | 0.24% | 190,150 | $17.0M | Reduce -0.3% |
| NVR NVR Inc. | 0.24% | 2,207 | $16.7M | No change |
| OTIS Otis Worldwide Corp. | 0.23% | 170,081 | $16.4M | No change |
| GE General Electric filed as GE AEROSPACE | 0.23% | 101,005 | $16.1M | Reduce -20.6% |
| YUM Yum! Brands Inc. | 0.22% | 117,156 | $15.5M | Reduce -7.0% |
| AXP American Express Co. | 0.22% | 66,542 | $15.4M | Add +22.2% |
| CL Colgate-Palmolive Co. | 0.22% | 157,608 | $15.3M | Add +171.8% |
| FAST Fastenal Co. | 0.22% | 242,999 | $15.3M | No change |
| AIG American International Group | 0.22% | 204,969 | $15.2M | Add +46.5% |
| ORLY O'reilly Automotive Inc. | 0.22% | 14,244 | $15.0M | Reduce -18.2% |
| QCOM Qualcomm Inc. | 0.21% | 75,372 | $15.0M | Add +33.9% |
| PHM Pultegroup Inc. | 0.21% | 135,834 | $15.0M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.21% | 361,937 | $14.4M | Add +56.7% |
| COST Costco Wholesale Corp. | 0.20% | 16,822 | $14.3M | Add +297.6% |
| VRSN Verisign Inc. | 0.20% | 79,903 | $14.2M | No change |
| EXPD Expeditors Intl Wash Inc. | 0.20% | 113,740 | $14.2M | Reduce -4.1% |
| AWK American Water Works Co. Inc. | 0.20% | 108,215 | $14.0M | Reduce -2.3% |
| CAH Cardinal Health Inc. | 0.20% | 140,125 | $13.8M | Reduce -13.6% |
| AMP Ameriprise Financial Inc. | 0.20% | 32,237 | $13.8M | Add +15.1% |
| APH Amphenol Corp. Class A | 0.19% | 201,300 | $13.6M | No change |
| SEDG Solaredge Technologies Inc. | 0.19% | 530,662 | $13.4M | No change |
| ACGL Arch Capital Group Ltd. | 0.19% | 131,481 | $13.3M | Reduce -2.6% |
| DOV Dover Corp. | 0.19% | 73,050 | $13.2M | No change |
| CB Chubb Ltd. | 0.19% | 51,346 | $13.1M | Add +2.1% |
| WMS Advanced Drainage Systems Inc. | 0.19% | 81,590 | $13.1M | Reduce -7.7% |
| HCA HCA Healthcare Inc. | 0.18% | 40,093 | $12.9M | Add +1.3% |
Portfolio Sells Q1 2024 → Q2 2024
| PLD Prologis Inc. | Reduce -34.2% | 3.29% | −2.58 |
| ARE Alexandria Real Estate Equit | Sold out | 0.00% | −1.28 |
| ESS Essex Property Trust Inc. | Reduce -96.9% | 0.04% | −1.24 |
| CPT Camden Property Trust | Sold out | 0.00% | −1.21 |
| SITC Site Centers Corp. | Sold out | 0.00% | −0.88 |
| FRT Federal Realty Invs Trust | Reduce -98.1% | 0.02% | −0.87 |
| EPR Epr Properties | Sold out | 0.00% | −0.78 |
| KIM Kimco Realty Corp. | Sold out | 0.00% | −0.62 |
| O Realty Income Corp. | Reduce -28.6% | 1.09% | −0.49 |
| NEE Nextera Energy Inc. | Reduce -52.8% | 0.30% | −0.28 |
| PEB Pebblebrook Hotel Trust | Reduce -14.6% | 0.64% | −0.21 |
| AON Aon PLC Class A | Sold out | 0.00% | −0.19 |
| SNPS Synopsys Inc. | Reduce -91.4% | 0.02% | −0.17 |
| LIN Linde PLC | Reduce -7.0% | 0.96% | −0.15 |
| MCD McDonald's Corp. | Reduce -49.4% | 0.12% | −0.14 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -14.9% | 0.59% | −0.14 |
| ITRI Itron Inc. | Reduce -17.4% | 0.86% | −0.13 |
| ABT Abbott Laboratories | Reduce -0.0% | 0.97% | −0.10 |
| GE General Electric | Reduce -20.6% | 0.23% | −0.09 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.09 |
| ADSK Autodesk Inc. | Reduce -82.2% | 0.02% | −0.09 |
| IBM Intl Business Machines Corp. | Reduce -53.9% | 0.06% | −0.08 |
| GNTX Gentex Corp. | Reduce -93.1% | 0.01% | −0.08 |
| PNR Pentair PLC | Reduce -8.1% | 0.34% | −0.08 |
| ADBE Adobe Inc. | Reduce -30.1% | 0.24% | −0.08 |
| AME Ametek Inc. | Reduce -26.6% | 0.14% | −0.07 |
| ORLY O'reilly Automotive Inc. | Reduce -18.2% | 0.22% | −0.07 |
| CPRT Copart Inc. | Reduce -61.8% | 0.04% | −0.07 |
| KO The Coca-Cola Co. | Reduce -44.9% | 0.09% | −0.07 |
| CAH Cardinal Health Inc. | Reduce -13.6% | 0.20% | −0.07 |
| CCEP Coca-Cola Europacific Partne | Sold out | 0.00% | −0.06 |
| SFM Sprouts Farmers Market Inc. | Reduce -51.2% | 0.10% | −0.06 |
| FTNT Fortinet Inc. | Reduce -24.6% | 0.11% | −0.06 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −0.06 |
| DHI D.R. Horton Inc. | Reduce -15.6% | 0.13% | −0.05 |
| GL Globe Life Inc. | Reduce -36.8% | 0.04% | −0.05 |
| ODFL Old Dominion Freight Line | Reduce -27.5% | 0.07% | −0.05 |
| AKAM Akamai Technologies Inc. | Reduce -44.0% | 0.04% | −0.05 |
| MOH Molina Healthcare Inc. | Reduce -77.7% | 0.01% | −0.05 |
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −0.04 |
| LW Lamb Weston Holdings Inc. | Sold out | 0.00% | −0.04 |
| COR Cencora Inc. | Reduce -5.8% | 0.27% | −0.04 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.04 |
| CDNS Cadence Design SYS Inc. | Reduce -23.6% | 0.12% | −0.04 |
| IT Gartner Inc. | Reduce -7.3% | 0.25% | −0.04 |
| CRM Salesforce Inc. | Reduce -7.0% | 0.14% | −0.04 |
| AVGO Broadcom Inc. | Reduce -34.3% | 0.14% | −0.04 |
| LULU Lululemon Athletica Inc. | Reduce -68.5% | 0.01% | −0.04 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.04 |
| ADM Archer-Daniels-Midland Co. | Reduce -4.0% | 0.37% | −0.04 |
Portfolio Buys Q1 2024 → Q2 2024
| ELS Equity Lifestyle Properties | Add +4586.1% | 1.72% | +1.68 |
| COLD Americold Realty Trust Inc. | New | 1.64% | +1.64 |
| REG Regency Centers Corp. | Add +2586.9% | 1.49% | +1.43 |
| SUI Sun Communities Inc. | Add +159.9% | 2.15% | +1.25 |
| ADC Agree Realty Corp. | New | 1.01% | +1.01 |
| NVDA Nvidia Corp. | Add +1.7% | 3.58% | +0.97 |
| GOOGL Alphabet Inc. Class A | Add +39.0% | 1.98% | +0.79 |
| BRX Brixmor Property Group Inc. | Add +167.2% | 1.24% | +0.76 |
| HIW Highwoods Properties Inc. | Add +77.9% | 1.36% | +0.59 |
| ROP Roper Technologies Inc. | Add +739.4% | 0.59% | +0.52 |
| KRC Kilroy Realty Corp. | Add +85.0% | 1.35% | +0.48 |
| DOC Healthpeak Properties Inc. | Add +12.5% | 2.06% | +0.29 |
| WPC WP Carey Inc. | Add +18.5% | 1.97% | +0.24 |
| MSFT Microsoft Corp. | Add +1.9% | 3.07% | +0.20 |
| APTV Aptiv Irish Holdings Ltd. | New | 0.18% | +0.18 |
| ILMN Illumina Inc. | Add +80.8% | 0.61% | +0.16 |
| COST Costco Wholesale Corp. | Add +297.6% | 0.20% | +0.16 |
| PG The Procter & Gamble Co. | Add +59.7% | 0.38% | +0.14 |
| CL Colgate-Palmolive Co. | Add +171.8% | 0.22% | +0.14 |
| ARGX Argenx SE - ADR | Add +44.5% | 0.40% | +0.14 |
| CAT Caterpillar Inc. | Add +50.5% | 0.41% | +0.11 |
| RHP Ryman Hospitality Properties | New | 0.11% | +0.11 |
| AMZN Amazon.com Inc. | Add +4.4% | 0.97% | +0.09 |
| LRCX Lam Research Corp. | Add +22.0% | 0.34% | +0.08 |
| BAC Bank of America Corp. | Add +56.7% | 0.21% | +0.08 |
| QCOM Qualcomm Inc. | Add +33.9% | 0.21% | +0.08 |
| MRK Merck & Co. Inc. | Add +381.6% | 0.09% | +0.07 |
| GDDY GoDaddy Inc. Class A | Add +61.3% | 0.15% | +0.07 |
| GS Goldman Sachs Group Inc. | Add +86.4% | 0.14% | +0.07 |
| FIS Fidelity National Info Serv | Add +298.3% | 0.09% | +0.07 |
| NLY Annaly Capital Management Inc. | Add +152.0% | 0.12% | +0.07 |
| MET Metlife Inc. | Add +1803.3% | 0.07% | +0.07 |
| UNP Union Pacific Corp. | Add +2790.1% | 0.06% | +0.06 |
| ABBV Abbvie Inc. | Add +308.1% | 0.08% | +0.06 |
| AIG American International Group | Add +46.5% | 0.22% | +0.06 |
| NFLX Netflix Inc. | Add +5.8% | 0.42% | +0.06 |
| EQH Equitable Holdings Inc. | Add +234.8% | 0.08% | +0.06 |
| DHR Danaher Corp. | Add +805.1% | 0.06% | +0.05 |
| PRU Prudential Financial Inc. | Add +98.0% | 0.11% | +0.05 |
| TJX TJX Companies Inc. | Add +15.8% | 0.26% | +0.05 |
| HD Home Depot Inc. | Add +63.5% | 0.16% | +0.05 |
| TT Trane Technologies PLC | Add +12.0% | 0.26% | +0.05 |
| ROST Ross Stores Inc. | Add +724.1% | 0.05% | +0.05 |
| AXP American Express Co. | Add +22.2% | 0.22% | +0.04 |
| ECL Ecolab Inc. | Add +42.4% | 0.13% | +0.04 |
| WAB Wabtec Corp. | Add +38.9% | 0.12% | +0.04 |
| PSA Public Storage | Add +8.0% | 0.69% | +0.04 |
| TTEK Tetra Tech Inc. | New | 0.04% | +0.04 |
| REXR Rexford Industrial Realty Inc. | Add +16.5% | 1.81% | +0.04 |
| HLT Hilton Worldwide Holdings Inc. | Add +337.6% | 0.04% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 59 | $4.1B | NVDA, GOOGL, TMO, LLY, LIN |
| Q1 2026 | 67 | $5.7B | WELL, PLD, EQIX, ALB, EXR |
| Q4 2025 | 66 | $6.3B | WELL, PLD, EQIX, TMO, MSFT |
| Q3 2025 | 66 | $6.2B | WELL, EQIX, PLD, EXR, MSFT |
| Q2 2025 | 68 | $5.8B | WELL, EQIX, EXR, PLD, MSFT |
| Q1 2025 | 347 | $7.4B | WELL, EQIX, AAPL, PLD, NVDA |
| Q4 2024 | 345 | $7.5B | EQIX, WELL, AAPL, NVDA, SPG |
| Q3 2024 | 348 | $7.8B | EQIX, WELL, PLD, AAPL, EXR |
| Q2 2024 | 344 | $7.0B | EQIX, NVDA, WELL, PLD, MSFT |
| Q1 2024 | 365 | $6.9B | PLD, EQIX, WELL, EXR, MSFT |