PGGM Investments

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), PGGM Investments reported 348 stock positions worth $7.8 billion. Its top holding was Equinix (EQIX) at 5.0% of the portfolio, followed by Welltower (WELL, 4.3%) and Prologis (PLD, 3.3%). Compared with Q2 2024, it opened 24 new positions, sold out of 20, added to 98 and reduced 99. The biggest buy was Iron Mountain (IRM, shares +3204%) and the biggest sale an exit from Realty Income (O).

Most Recent 13F
Q2 2026
Location
ZEIST, P7
CIK
0001472190
Portfolio Value
$7.8B (Q3 2024)
SEC Filing
0001472190-24-000006 ↗ filed Nov 13, 2024

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $6.9B Q1 2024 Q2 2024: $7.0B Q2 2024 Q3 2024: $7.8B $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 348 stocks · $7.8B
EQIX Equinix Inc. 4.95% 435,525 $386.6M Reduce -1.8%
WELL Welltower Inc. 4.30% 2,620,272 $335.5M Add +12.5%
PLD Prologis Inc. 3.29% 2,032,880 $256.7M Reduce -0.5%
AAPL Apple Inc. 3.16% 1,060,255 $247.0M Add +13.8%
EXR Extra Space Storage Inc. 3.04% 1,315,485 $237.0M Add +1.0%
NVDA Nvidia Corp. 2.95% 1,897,848 $230.5M Reduce -6.3%
MSFT Microsoft Corp. 2.73% 494,614 $212.8M Add +3.2%
SPG Simon Property Group Inc. 2.68% 1,238,123 $209.3M No change
INVH Invitation Homes Inc. 2.32% 5,130,595 $180.9M Add +3.2%
DOC Healthpeak Properties Inc. 2.15% 7,338,914 $167.8M No change
WPC WP Carey Inc. 2.07% 2,598,446 $161.9M Add +4.0%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 2.02% 1,168,625 $157.9M Reduce -6.3%
REXR Rexford Industrial Realty Inc. 1.91% 2,957,809 $148.8M Add +4.4%
COLD Americold Realty Trust Inc. 1.78% 4,903,154 $138.6M Add +9.4%
ELS Equity Lifestyle Properties 1.76% 1,922,032 $137.1M Add +4.3%
GOOGL Alphabet Inc. Class A 1.72% 808,933 $134.2M Add +6.3%
UDR Udr Inc. 1.70% 2,935,470 $133.1M Reduce -7.6%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 1.65% 1,083,653 $128.8M Add +3204.4%
REG Regency Centers Corp. 1.63% 1,765,720 $127.5M Add +5.7%
KRC Kilroy Realty Corp. 1.63% 3,286,928 $127.2M Add +9.0%
TMO Thermo Fisher Scientific Inc. 1.61% 203,790 $126.1M Add +1.1%
BRX Brixmor Property Group Inc. 1.34% 3,761,248 $104.8M No change
META Meta Platforms Inc. Class A 1.34% 182,680 $104.6M Add +10.8%
MDT Medtronic PLC 1.31% 1,137,690 $102.4M Add +1.3%
HIW Highwoods Properties Inc. 1.24% 2,891,946 $96.9M Reduce -20.3%
AMZN Amazon.com Inc. 1.16% 484,755 $90.3M Add +38.6%
ABT Abbott Laboratories 0.96% 658,510 $75.1M Add +1.4%
LIN Linde PLC 0.93% 152,382 $72.7M Reduce -0.3%
PSA Public Storage 0.90% 192,531 $70.1M Add +15.0%
ITRI Itron Inc. 0.80% 587,133 $62.7M Reduce -3.7%
JPM JPMorgan Chase & Co. 0.78% 290,167 $61.2M Add +0.4%
ILMN Illumina Inc. 0.76% 457,423 $59.7M Add +11.2%
RHP Ryman Hospitality Properties 0.75% 549,121 $58.9M Add +630.0%
MA Mastercard Inc. Class A 0.73% 115,475 $57.0M No change
HST Host Hotels & Resorts Inc. 0.70% 3,113,528 $54.8M No change
DLR Digital Realty Trust Inc. 0.66% 320,360 $51.8M No change
CUBE Cubesmart 0.65% 943,848 $50.8M Add +8.6%
ALB Albemarle Corp. 0.65% 534,169 $50.6M Add +5.6%
AGRO Adecoagro SA 0.64% 4,500,000 $49.8M No change
BKNG Booking Holdings Inc. 0.59% 10,861 $45.7M Reduce -4.5%
ROP Roper Technologies Inc. 0.58% 81,116 $45.1M Add +11.7%
BRK.B Berkshire Hathaway Inc. Class B 0.57% 97,548 $44.9M Reduce -3.7%
CTVA Corteva Inc. 0.57% 763,023 $44.9M No change
V Visa Inc. Class A 0.57% 163,140 $44.9M Reduce -22.0%
AMH American Homes 4 Rent- A 0.49% 990,648 $38.0M Add +13.2%
HAIN Hain Celestial Group Inc. 0.46% 4,183,854 $36.1M No change
ARGX Argenx SE - ADR 0.45% 64,409 $34.9M No change
FMC FMC Corp. 0.44% 521,835 $34.4M No change
NFLX Netflix Inc. 0.43% 47,806 $33.9M Add +9.0%
HDB HDFC Bank Ltd.-ADR 0.42% 530,425 $33.2M Add +7.6%
FICO Fair Isaac Corp. 0.40% 15,877 $30.9M Reduce -14.3%
CTAS Cintas Corp. 0.37% 141,028 $29.0M Reduce -6.5%
AMAT Applied Materials Inc. 0.36% 139,128 $28.1M No change
REGN Regeneron Pharmaceuticals 0.35% 26,197 $27.5M Reduce -20.0%
PG The Procter & Gamble Co. 0.35% 158,510 $27.5M Reduce -2.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.33% 644,748 $25.6M Add +78.1%
ADM Archer-Daniels-Midland Co. 0.33% 426,138 $25.5M No change
KLAC KLA Corp. 0.32% 32,117 $24.9M No change
AXP American Express Co. 0.30% 86,766 $23.5M Add +30.4%
CMCSA Comcast Corp. Class A 0.30% 553,147 $23.1M No change
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.29% 22,042 $22.9M No change
QCOM Qualcomm Inc. 0.29% 130,912 $22.3M Add +73.7%
TT Trane Technologies PLC 0.28% 55,596 $21.6M No change
NVR NVR Inc. 0.27% 2,188 $21.5M Reduce -0.9%
ITW Illinois Tool Works 0.27% 81,850 $21.4M No change
PNR Pentair PLC 0.27% 218,714 $21.4M Reduce -29.3%
AFL Aflac Inc. 0.27% 190,150 $21.3M No change
LLY Eli Lilly & Co. 0.27% 23,605 $20.9M New
COST Costco Wholesale Corp. 0.26% 23,229 $20.6M Add +38.1%
MRSH Marsh & McLennan Cos 0.25% 89,165 $19.9M Reduce -2.2%
MCK McKesson Corp. 0.25% 39,991 $19.8M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.25% 164,491 $19.3M Reduce -0.1%
IT Gartner Inc. 0.24% 37,743 $19.1M Reduce -3.6%
MTD Mettler-Toledo International 0.24% 12,589 $18.9M No change
AVGO Broadcom Inc. 0.24% 107,718 $18.6M Add +73.3%
COR Cencora Inc. 0.24% 82,160 $18.5M Reduce -3.0%
LRCX Lam Research Corp. 0.24% 22,621 $18.5M Add +2.4%
RUN Sunrun Inc. 0.24% 1,021,290 $18.4M Add +6.6%
GE General Electric filed as GE AEROSPACE 0.23% 94,880 $17.9M Reduce -6.1%
C Citigroup Inc. 0.23% 283,845 $17.8M Add +1.8%
NEE Nextera Energy Inc. 0.22% 206,193 $17.4M Reduce -29.4%
OTIS Otis Worldwide Corp. 0.22% 164,442 $17.1M Reduce -3.3%
PHM Pultegroup Inc. 0.21% 116,445 $16.7M Reduce -14.3%
GS Goldman Sachs Group Inc. 0.21% 33,642 $16.7M Add +56.6%
CL Colgate-Palmolive Co. 0.21% 157,608 $16.4M No change
GDDY GoDaddy Inc. Class A 0.20% 101,851 $16.0M Add +35.2%
MAS Masco Corp. 0.20% 187,577 $15.7M No change
MSI Motorola Solutions Inc. 0.20% 34,578 $15.5M Add +6.8%
SEDG Solaredge Technologies Inc. 0.20% 671,082 $15.4M Add +26.5%
BMRN Biomarin Pharmaceutical Inc. 0.20% 217,581 $15.3M New
VRSN Verisign Inc. 0.19% 79,903 $15.2M No change
AMP Ameriprise Financial Inc. 0.19% 32,237 $15.1M No change
CB Chubb Ltd. 0.19% 52,366 $15.1M Add +2.0%
ADBE Adobe Inc. 0.19% 29,034 $15.0M Reduce -5.3%
HCA HCA Healthcare Inc. 0.19% 36,974 $15.0M Reduce -7.8%
AIG American International Group 0.19% 204,969 $15.0M No change
ACGL Arch Capital Group Ltd. 0.19% 131,481 $14.7M No change
TSLA Tesla Inc. 0.19% 55,988 $14.6M New
PH Parker Hannifin Corp. 0.18% 22,855 $14.4M No change
FAST Fastenal Co. 0.18% 198,586 $14.2M Reduce -18.3%

Show all 348 holdings

Portfolio Sells Q2 2024 → Q3 2024
O Realty Income Corp. Sold out 0.00% −1.09
ADC Agree Realty Corp. Reduce -85.5% 0.16% −0.85
PEB Pebblebrook Hotel Trust Sold out 0.00% −0.64
NVDA Nvidia Corp. Reduce -6.3% 2.95% −0.63
CAT Caterpillar Inc. Sold out 0.00% −0.41
V Visa Inc. Class A Reduce -22.0% 0.57% −0.21
UDR Udr Inc. Reduce -7.6% 1.70% −0.17
SEIC Sei Investments Company Reduce -78.2% 0.04% −0.14
REGN Regeneron Pharmaceuticals Reduce -20.0% 0.35% −0.14
SUI Sun Communities Inc. Reduce -6.3% 2.02% −0.12
HIW Highwoods Properties Inc. Reduce -20.3% 1.24% −0.12
YUM Yum! Brands Inc. Reduce -38.0% 0.13% −0.09
HSIC Henry Schein Inc. Sold out 0.00% −0.09
CMG Chipotle Mexican Grill Inc. Reduce -38.3% 0.09% −0.08
DELL Dell Technologies -C Sold out 0.00% −0.08
ARW Arrow Electronics Inc. Reduce -73.1% 0.03% −0.08
CDNS Cadence Design SYS Inc. Reduce -53.6% 0.04% −0.08
MCD McDonald's Corp. Reduce -69.6% 0.04% −0.08
NEE Nextera Energy Inc. Reduce -29.4% 0.22% −0.07
DOX Amdocs Ltd. Reduce -42.7% 0.09% −0.07
AME Ametek Inc. Reduce -44.3% 0.07% −0.07
PNR Pentair PLC Reduce -29.3% 0.27% −0.07
ITRI Itron Inc. Reduce -3.7% 0.80% −0.06
AWK American Water Works Co. Inc. Reduce -31.1% 0.14% −0.06
BKNG Booking Holdings Inc. Reduce -4.5% 0.59% −0.06
ORLY O'reilly Automotive Inc. Reduce -24.3% 0.16% −0.06
VNT Vontier Corp. Reduce -67.9% 0.02% −0.06
ADBE Adobe Inc. Reduce -5.3% 0.19% −0.05
RHI Robert Half Inc. Sold out 0.00% −0.05
CBOE Cboe Global Markets Inc. Reduce -72.7% 0.02% −0.05
MAN Manpowergroup Inc. Sold out 0.00% −0.04
ODFL Old Dominion Freight Line Reduce -59.0% 0.03% −0.04
JBHT Hunt (jb) Transprt SVCS Inc. Reduce -90.0% 0.00% −0.04
TER Teradyne Inc. Reduce -43.8% 0.03% −0.04
CDW CDW Corp. Reduce -28.8% 0.07% −0.04
FAST Fastenal Co. Reduce -18.3% 0.18% −0.04
GEV GE Vernova Inc. Reduce -72.4% 0.02% −0.04
COR Cencora Inc. Reduce -3.0% 0.24% −0.04
CPRT Copart Inc. Reduce -93.2% 0.00% −0.04
EXPD Expeditors Intl Wash Inc. Reduce -12.1% 0.17% −0.03
RPRX Royalty Pharma PLC Class A Sold out 0.00% −0.03
MAR Marriott International Class A Reduce -44.4% 0.04% −0.03
NXPI NXP Semiconductors NV Reduce -11.4% 0.08% −0.03
PG The Procter & Gamble Co. Reduce -2.1% 0.35% −0.03
LIN Linde PLC Reduce -0.3% 0.93% −0.03
CAH Cardinal Health Inc. Reduce -15.4% 0.17% −0.03
APH Amphenol Corp. Class A Reduce -1.6% 0.17% −0.03
NUE Nucor Corp. Reduce -5.2% 0.11% −0.03
VRTX Vertex Pharmaceuticals Inc. Sold out 0.00% −0.03
ALV Autoliv Inc. Reduce -83.9% 0.00% −0.03

Portfolio Buys Q2 2024 → Q3 2024
IRM Iron Mountain Inc. Add +3204.4% 1.65% +1.61
WELL Welltower Inc. Add +12.5% 4.30% +0.82
RHP Ryman Hospitality Properties Add +630.0% 0.75% +0.65
AAPL Apple Inc. Add +13.8% 3.16% +0.36
KRC Kilroy Realty Corp. Add +9.0% 1.63% +0.28
LLY Eli Lilly & Co. New 0.27% +0.27
PSA Public Storage Add +15.0% 0.90% +0.21
BMRN Biomarin Pharmaceutical Inc. New 0.20% +0.20
AMZN Amazon.com Inc. Add +38.6% 1.16% +0.19
TSLA Tesla Inc. New 0.19% +0.19
ILMN Illumina Inc. Add +11.2% 0.76% +0.15
META Meta Platforms Inc. Class A Add +10.8% 1.34% +0.15
REG Regency Centers Corp. Add +5.7% 1.63% +0.15
EXR Extra Space Storage Inc. Add +1.0% 3.04% +0.14
COLD Americold Realty Trust Inc. Add +9.4% 1.78% +0.14
T AT&T Inc. New 0.14% +0.14
LINE Lineage Inc. New 0.13% +0.13
BAC Bank of America Corp. Add +78.1% 0.33% +0.12
WPC WP Carey Inc. Add +4.0% 2.07% +0.10
ABBV Abbvie Inc. Add +118.8% 0.18% +0.10
REXR Rexford Industrial Realty Inc. Add +4.4% 1.91% +0.10
AVGO Broadcom Inc. Add +73.3% 0.24% +0.10
CUBE Cubesmart Add +8.6% 0.65% +0.09
FERG Ferguson Enterprises Inc. New 0.09% +0.09
SPOT Spotify Technology SA New 0.08% +0.08
AXP American Express Co. Add +30.4% 0.30% +0.08
GS Goldman Sachs Group Inc. Add +56.6% 0.21% +0.07
RUN Sunrun Inc. Add +6.6% 0.24% +0.07
QCOM Qualcomm Inc. Add +73.7% 0.29% +0.07
PYPL PayPal Holdings Inc. New 0.07% +0.07
FIS Fidelity National Info Serv Add +70.2% 0.15% +0.06
TTEK Tetra Tech Inc. Add +156.2% 0.10% +0.06
COST Costco Wholesale Corp. Add +38.1% 0.26% +0.06
GDDY GoDaddy Inc. Class A Add +35.2% 0.20% +0.05
TMUS T-Mobile US Inc. Add +363.0% 0.07% +0.05
DHR Danaher Corp. Add +88.2% 0.11% +0.05
DIS The Walt Disney Co. Add +510.3% 0.06% +0.05
CSCO Cisco Systems Inc. Add +156.5% 0.08% +0.05
MDT Medtronic PLC Add +1.3% 1.31% +0.05
UNH Unitedhealth Group Inc. New 0.05% +0.05
MRK Merck & Co. Inc. Add +78.3% 0.14% +0.04
ARE Alexandria Real Estate Equit New 0.04% +0.04
ELS Equity Lifestyle Properties Add +4.3% 1.76% +0.04
PNC PNC Financial Services Group Add +206.1% 0.05% +0.03
FOXA Fox Corp. Class A Add +103.9% 0.05% +0.03
HLT Hilton Worldwide Holdings Inc. Add +75.3% 0.07% +0.03
VST Vistra Corp. Add +18.9% 0.09% +0.03
FITB Fifth Third Bancorp Add +77.8% 0.06% +0.03
ROST Ross Stores Inc. Add +63.4% 0.08% +0.03
FISV Fiserv Inc. Add +8.0% 0.16% +0.02

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