PGGM Investments

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), PGGM Investments reported 347 stock positions worth $7.4 billion. Its top holding was Welltower (WELL) at 5.5% of the portfolio, followed by Equinix (EQIX, 4.1%) and Apple (AAPL, 3.1%). Compared with Q4 2024, it opened 17 new positions, sold out of 16, added to 96 and reduced 83. The biggest buy was Federal Realty Invs Trust (FRT, shares +8607%) and the biggest sale WP Carey (WPC, shares −99%).

Most Recent 13F
Q2 2026
Location
ZEIST, P7
CIK
0001472190
Portfolio Value
$7.4B (Q1 2025)
SEC Filing
0001472190-25-000002 ↗ filed May 12, 2025

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 Q3 2024 Q4 2024: $7.5B Q4 2024 Q1 2025: $7.4B $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 347 stocks · $7.4B
WELL Welltower Inc. 5.46% 2,641,471 $404.7M Add +2.7%
EQIX Equinix Inc. 4.09% 372,032 $303.3M Reduce -10.6%
AAPL Apple Inc. 3.13% 1,046,503 $232.5M Reduce -6.9%
PLD Prologis Inc. 3.01% 1,994,849 $223.0M Add +0.9%
NVDA Nvidia Corp. 2.78% 1,904,080 $206.4M Add +1.7%
EXR Extra Space Storage Inc. 2.77% 1,382,549 $205.3M Add +5.1%
INVH Invitation Homes Inc. 2.36% 5,030,685 $175.3M Reduce -1.5%
MSFT Microsoft Corp. 2.16% 426,709 $160.2M Reduce -0.7%
UDR Udr Inc. 2.04% 3,349,655 $151.3M Add +5.9%
DOC Healthpeak Properties Inc. 2.01% 7,374,728 $149.1M Add +2.9%
SPG Simon Property Group Inc. 1.93% 859,843 $142.8M Reduce -30.6%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 1.85% 1,597,968 $137.5M Add +47.4%
REXR Rexford Industrial Realty Inc. 1.74% 3,302,781 $129.3M No change
ELS Equity Lifestyle Properties 1.72% 1,917,832 $127.9M Reduce -0.1%
COLD Americold Realty Trust Inc. 1.70% 5,876,782 $126.1M Add +5.7%
GOOGL Alphabet Inc. Class A 1.65% 793,264 $122.7M No change
META Meta Platforms Inc. Class A 1.46% 188,080 $108.4M Reduce -3.3%
MDT Medtronic PLC 1.39% 1,150,332 $103.4M Reduce -7.5%
AMZN Amazon.com Inc. 1.36% 531,307 $101.1M Add +3.1%
FRT Federal Realty Invs Trust 1.33% 1,006,663 $98.5M Add +8607.4%
TMO Thermo Fisher Scientific Inc. 1.27% 189,875 $94.5M Reduce -7.1%
ARE Alexandria Real Estate Equit 1.27% 1,019,059 $94.3M Add +6.3%
KRC Kilroy Realty Corp. 1.27% 2,865,769 $93.9M Reduce -3.1%
EPRT Essential Properties Realty 1.26% 2,872,904 $93.8M New
ABT Abbott Laboratories 1.18% 659,670 $87.5M Reduce -3.0%
BRX Brixmor Property Group Inc. 1.11% 3,086,961 $82.0M Reduce -11.0%
CPT Camden Property Trust 1.10% 669,541 $81.9M New
ADC Agree Realty Corp. 1.00% 956,246 $73.8M Add +480.8%
LIN Linde PLC 0.94% 149,012 $69.4M Reduce -1.5%
JPM JPMorgan Chase & Co. 0.91% 275,567 $67.6M Reduce -0.5%
MA Mastercard Inc. Class A 0.84% 113,821 $62.4M Reduce -1.4%
MAC The Macerich Co. 0.80% 3,470,664 $59.6M New
DLR Digital Realty Trust Inc. 0.78% 403,874 $57.9M Reduce -1.1%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.75% 432,595 $55.6M Reduce -63.0%
AGRO Adecoagro SA 0.68% 4,500,000 $50.3M No change
RHP Ryman Hospitality Properties 0.65% 530,200 $48.5M Add +5.3%
ROP Roper Technologies Inc. 0.64% 80,049 $47.2M No change
HDB HDFC Bank Ltd.-ADR 0.62% 693,362 $46.1M Add +30.7%
PSA Public Storage 0.62% 153,039 $45.8M Reduce -14.7%
CTVA Corteva Inc. 0.62% 726,244 $45.7M Reduce -4.8%
NFLX Netflix Inc. 0.60% 47,624 $44.4M Reduce -2.3%
HST Host Hotels & Resorts Inc. 0.60% 3,110,579 $44.2M No change
BKNG Booking Holdings Inc. 0.58% 9,372 $43.2M No change
ILMN Illumina Inc. 0.57% 534,435 $42.4M Add +16.8%
ALB Albemarle Corp. 0.55% 561,949 $40.5M Add +5.2%
CUBE Cubesmart 0.54% 943,848 $40.3M No change
AMH American Homes 4 Rent- A 0.54% 1,062,538 $40.2M No change
ITRI Itron Inc. 0.48% 341,177 $35.7M Reduce -40.8%
WMT Walmart Inc. 0.44% 374,450 $32.9M New
AVGO Broadcom Inc. 0.42% 186,136 $31.2M Add +12.9%
REG Regency Centers Corp. 0.41% 415,679 $30.7M Reduce -76.5%
ARGX Argenx SE - ADR 0.39% 48,799 $28.9M Reduce -14.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.39% 687,191 $28.7M Add +1.6%
BRK.B Berkshire Hathaway Inc. Class B 0.38% 52,874 $28.2M Add +4.0%
CTAS Cintas Corp. 0.37% 131,784 $27.1M Reduce -5.9%
NEE Nextera Energy Inc. 0.36% 377,303 $26.7M Add +177.5%
SNPS Synopsys Inc. 0.34% 59,465 $25.5M Add +168.8%
BMRN Biomarin Pharmaceutical Inc. 0.33% 349,591 $24.7M Add +43.5%
FICO Fair Isaac Corp. 0.33% 13,385 $24.7M No change
ITW Illinois Tool Works 0.33% 98,358 $24.4M Add +20.2%
TSLA Tesla Inc. 0.32% 92,796 $24.0M Reduce -17.4%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.32% 197,435 $24.0M Add +6.2%
AXP American Express Co. 0.32% 87,571 $23.6M No change
TT Trane Technologies PLC 0.31% 67,832 $22.9M Add +11.1%
V Visa Inc. Class A 0.31% 65,117 $22.8M Reduce -8.4%
CMCSA Comcast Corp. Class A 0.30% 612,782 $22.6M Add +22.6%
WMS Advanced Drainage Systems Inc. 0.30% 205,819 $22.4M Add +37.0%
FMC FMC Corp. 0.30% 521,835 $22.0M No change
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.29% 22,042 $21.8M No change
GS Goldman Sachs Group Inc. 0.29% 39,038 $21.3M Add +10.8%
AFL Aflac Inc. 0.29% 190,127 $21.1M Add +1.1%
REGN Regeneron Pharmaceuticals 0.28% 32,497 $20.6M No change
ADM Archer-Daniels-Midland Co. 0.28% 426,138 $20.5M No change
MRSH Marsh & McLennan Cos 0.27% 83,116 $20.3M Reduce -0.7%
BSX Boston Scientific Corp. 0.26% 192,025 $19.4M No change
PG The Procter & Gamble Co. 0.25% 109,718 $18.7M Add +1.9%
C Citigroup Inc. 0.25% 261,561 $18.6M No change
QCOM Qualcomm Inc. 0.25% 120,458 $18.5M Reduce -12.1%
OTIS Otis Worldwide Corp. 0.25% 177,812 $18.4M Add +8.1%
GDDY GoDaddy Inc. Class A 0.25% 101,851 $18.3M No change
T AT&T Inc. 0.24% 637,329 $18.0M Add +30.1%
COST Costco Wholesale Corp. 0.24% 19,032 $18.0M Reduce -18.1%
VRSN Verisign Inc. 0.24% 68,690 $17.4M Reduce -14.0%
HAIN Hain Celestial Group Inc. 0.23% 4,183,854 $17.4M No change
HD Home Depot Inc. 0.23% 47,092 $17.3M Add +41.7%
AIG American International Group 0.23% 195,284 $17.0M Reduce -0.9%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.23% 200,252 $16.8M No change
IQV Iqvia Holdings Inc. 0.22% 92,351 $16.3M Add +586.8%
FTNT Fortinet Inc. 0.22% 166,464 $16.0M Add +16.6%
ADP Automatic Data Processing 0.22% 52,380 $16.0M Add +3.0%
FISV Fiserv Inc. 0.22% 72,222 $15.9M No change
NVR NVR Inc. 0.21% 2,188 $15.9M No change
IT Gartner Inc. 0.21% 37,743 $15.8M No change
CB Chubb Ltd. 0.21% 52,366 $15.8M No change
PLTR Palantir Technologies Inc. Class A 0.21% 187,148 $15.8M Reduce -1.7%
SNA Snap-on Inc. 0.21% 46,360 $15.6M No change
AMP Ameriprise Financial Inc. 0.21% 32,237 $15.6M No change
GE General Electric filed as GE AEROSPACE 0.21% 77,862 $15.6M Reduce -25.7%
MCK McKesson Corp. 0.21% 23,145 $15.6M Reduce -15.6%
L Loews Corp. 0.21% 165,555 $15.2M No change
AZO AutoZone Inc. 0.20% 3,963 $15.1M No change
MTD Mettler-Toledo International 0.20% 12,589 $14.9M No change
ORLY O'reilly Automotive Inc. 0.20% 10,349 $14.8M No change
HWM Howmet Aerospace Inc. 0.20% 113,429 $14.7M Add +3.0%
TTEK Tetra Tech Inc. 0.19% 490,333 $14.3M Add +208.7%
KLAC KLA Corp. 0.19% 20,827 $14.2M Reduce -29.5%
CTRE Caretrust REIT Inc. 0.19% 492,976 $14.1M New
PH Parker Hannifin Corp. 0.19% 22,855 $13.9M No change
LLY Eli Lilly & Co. 0.19% 16,734 $13.8M Add +24.9%
GILD Gilead Sciences Inc. 0.19% 123,274 $13.8M Add +154.1%
CL Colgate-Palmolive Co. 0.18% 143,107 $13.4M No change
MAS Masco Corp. 0.18% 190,659 $13.3M Add +0.6%
CAH Cardinal Health Inc. 0.18% 96,115 $13.2M Reduce -17.1%
AMAT Applied Materials Inc. 0.18% 90,513 $13.1M Reduce -30.9%
FIS Fidelity National Info Serv 0.17% 171,659 $12.8M No change
ABBV Abbvie Inc. 0.17% 60,878 $12.8M Reduce -6.3%
DOV Dover Corp. 0.17% 72,346 $12.7M No change
LOW Lowe's Cos Inc. 0.17% 53,891 $12.6M Add +3.0%
BMY Bristol-Myers Squibb Co. 0.17% 202,639 $12.4M Add +122.4%
CI The Cigna Group 0.17% 37,192 $12.2M No change
WAB Wabtec Corp. 0.16% 66,426 $12.0M Add +0.7%
HCA HCA Healthcare Inc. 0.16% 34,404 $11.9M Reduce -4.2%
EXPD Expeditors Intl Wash Inc. 0.16% 98,635 $11.9M No change
PHM Pultegroup Inc. 0.16% 114,063 $11.7M Reduce -2.0%
HIG Hartford Insurance Group Inc. 0.16% 93,731 $11.6M No change
CRM Salesforce Inc. 0.16% 43,111 $11.6M No change
ACN Accenture PLC Class A 0.15% 36,566 $11.4M Add +3.6%
FOXA Fox Corp. Class A 0.15% 199,057 $11.3M Add +47.8%
EXPE Expedia Group Inc. 0.15% 66,595 $11.2M No change
PYPL PayPal Holdings Inc. 0.15% 166,962 $10.9M Add +25.8%
SEDG Solaredge Technologies Inc. 0.15% 671,082 $10.9M No change
SYF Synchrony Financial 0.15% 203,704 $10.8M No change
ACGL Arch Capital Group Ltd. 0.14% 109,432 $10.5M Reduce -9.8%
APH Amphenol Corp. Class A 0.14% 160,443 $10.5M Reduce -15.1%
URI United Rentals Inc. 0.14% 16,748 $10.5M No change
TEL Te Connectivity PLC 0.14% 73,745 $10.4M No change
APTV Aptiv PLC 0.14% 174,492 $10.4M No change
ECL Ecolab Inc. 0.14% 40,721 $10.3M No change
VRSK Verisk Analytics Inc. 0.14% 34,583 $10.3M Add +0.5%
MKL Markel Group Inc. 0.14% 5,472 $10.2M No change
MS Morgan Stanley 0.14% 86,640 $10.1M Add +57.5%
DOCU Docusign Inc. 0.13% 121,162 $9.9M Add +17.8%
RUN Sunrun Inc. 0.13% 1,681,926 $9.9M Add +64.7%
NLY Annaly Capital Management Inc. 0.13% 484,315 $9.8M Reduce -15.4%
CTSH Cognizant Tech Solutions-A 0.13% 128,303 $9.8M No change
TRV The Travelers Cos Inc. 0.13% 36,901 $9.8M No change
WCN Waste Connections Inc. 0.13% 49,902 $9.7M New
ZTS Zoetis Inc. 0.13% 58,528 $9.6M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.13% 94,657 $9.3M Add +200.9%
COR Cencora Inc. 0.13% 33,508 $9.3M Reduce -46.8%
LRCX Lam Research Corp. 0.13% 128,114 $9.3M Reduce -38.5%
ALLE Allegion PLC 0.12% 70,331 $9.2M Add +6.9%
APP AppLovin Corp. Class A 0.12% 33,862 $9.0M Add +78.5%
SHW The Sherwin-Williams Co. 0.12% 24,774 $8.7M No change
STT State Street Corp. 0.12% 95,705 $8.6M Add +27.7%
ATO Atmos Energy Corp. 0.11% 54,410 $8.4M Add +1.3%
YUM Yum! Brands Inc. 0.11% 53,223 $8.4M Reduce -24.9%
CPAY Corpay Inc. 0.11% 23,432 $8.2M No change
JCI Johnson Controls Internation 0.11% 100,916 $8.1M Add +28.2%
FLEX Flex Ltd. 0.11% 240,597 $8.0M Reduce -0.8%
ADBE Adobe Inc. 0.11% 20,721 $7.9M Add +6.4%
EA Electronic Arts Inc. 0.11% 54,269 $7.8M Add +1.1%
TMUS T-Mobile US Inc. 0.10% 28,668 $7.6M Add +14.4%
PNC PNC Financial Services Group 0.10% 42,414 $7.5M Add +10.0%
COF Capital One Financial Corp. 0.10% 41,572 $7.5M No change
PRU Prudential Financial Inc. 0.10% 65,284 $7.3M No change
EQH Equitable Holdings Inc. 0.10% 139,736 $7.3M No change
DOX Amdocs Ltd. 0.10% 78,714 $7.2M No change
USB US Bancorp 0.10% 170,491 $7.2M Add +63.4%
MET Metlife Inc. 0.10% 88,265 $7.1M No change
EBAY eBay Inc. 0.09% 103,635 $7.0M No change
BLDR Builders Firstsource Inc. 0.09% 55,732 $7.0M No change
FITB Fifth Third Bancorp 0.09% 174,059 $6.8M Add +1.1%
MRK Merck & Co. Inc. 0.09% 75,380 $6.8M No change
GRMN Garmin Ltd. 0.09% 30,766 $6.7M No change
TWLO Twilio Inc. Class A 0.09% 67,850 $6.6M Add +125.3%
IEX Idex Corp. 0.09% 35,792 $6.5M No change
SPOT Spotify Technology SA 0.09% 11,509 $6.3M Reduce -26.8%
CMI Cummins Inc. 0.08% 19,622 $6.2M Add +10.1%
WTW Willis Towers Watson PLC 0.08% 18,080 $6.1M No change
STLD Steel Dynamics Inc. 0.08% 48,510 $6.1M Reduce -22.0%
AVY Avery Dennison Corp. 0.08% 33,787 $6.0M No change
NI Nisource Inc. 0.08% 147,986 $5.9M Add +26.4%
LEN Lennar Corp. Class A 0.08% 51,522 $5.9M Reduce -13.0%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.08% 82,195 $5.8M No change
FERG Ferguson Enterprises Inc. 0.08% 36,172 $5.8M Reduce -2.8%
HEI Heico Corp. 0.08% 21,619 $5.8M No change
HLT Hilton Worldwide Holdings Inc. 0.08% 25,205 $5.7M No change
HOLX Hologic Inc. 0.08% 92,272 $5.7M Reduce -1.2%
A Agilent Technologies Inc. 0.08% 48,670 $5.7M Reduce -5.7%
GEN Gen Digital Inc. 0.08% 213,495 $5.7M Add +42.2%
CFG Citizens Financial Group 0.08% 138,277 $5.7M Add +1.9%
DFS Discover Financial Services 0.07% 32,110 $5.5M No change
TFC Truist Financial Corp. 0.07% 132,961 $5.5M Add +47.7%
VLTO Veralto Corp. 0.07% 55,591 $5.4M No change
RMD Resmed Inc. 0.07% 23,613 $5.3M No change
DHI D.R. Horton Inc. 0.07% 41,564 $5.3M Reduce -5.9%
NTAP Netapp Inc. 0.07% 60,133 $5.3M No change
ROST Ross Stores Inc. 0.07% 40,607 $5.2M No change
RF Regions Financial Corp. 0.07% 233,262 $5.1M Add +4.5%
NTRS Northern Trust Corp. 0.07% 50,983 $5.0M Add +61.8%
PCAR Paccar Inc. 0.07% 51,643 $5.0M No change
PNR Pentair PLC 0.07% 57,428 $5.0M Reduce -53.6%
WAT Waters Corp. 0.07% 13,614 $5.0M Reduce -4.2%
DE Deere & Co. 0.07% 10,370 $4.9M No change
EG Everest Group Ltd. 0.06% 13,108 $4.8M No change
DPZ Domino's Pizza Inc. 0.06% 10,243 $4.7M No change
VST Vistra Corp. 0.06% 39,993 $4.7M Reduce -26.4%
FNF Fidelity National Financial 0.06% 71,332 $4.6M No change
WM Waste Management Inc. 0.06% 19,978 $4.6M Reduce -5.1%
SSNC Ss&c Technologies Holdings 0.06% 55,235 $4.6M No change
LH Labcorp Holdings Inc. 0.06% 19,777 $4.6M No change
FTV Fortive Corp. 0.06% 62,155 $4.5M Add +3.9%
VZ Verizon Communications Inc. 0.06% 98,124 $4.5M Add +2391.1%
DGX Quest Diagnostics Inc. 0.06% 25,230 $4.3M No change
AWK American Water Works Co. Inc. 0.06% 28,546 $4.2M Reduce -68.3%
PAYX Paychex Inc. 0.06% 27,231 $4.2M Add +2.9%
UAL United Airlines Holdings Inc. 0.06% 60,209 $4.2M Add +113.8%
CNA Cna Financial Corp. 0.06% 81,008 $4.1M No change
DRI Darden Restaurants Inc. 0.05% 19,606 $4.1M Reduce -23.7%
PFG Principal Financial Group 0.05% 48,179 $4.1M No change
UNP Union Pacific Corp. 0.05% 16,900 $4.0M Reduce -12.5%
PEP Pepsico Inc. 0.05% 26,156 $3.9M Add +55.8%
BLK BlackRock Inc. 0.05% 4,095 $3.9M No change
TDG Transdigm Group Inc. 0.05% 2,757 $3.8M No change
ROL Rollins Inc. 0.05% 68,747 $3.7M No change
MAA Mid-America Apartment Comm 0.05% 21,795 $3.7M No change
PKG Packaging Corp. of America 0.05% 17,548 $3.5M Add +64.6%
MSCI MSCI Inc. 0.05% 6,095 $3.4M No change
DASH DoorDash Inc. Class A 0.05% 18,788 $3.4M Add +9.3%
ESS Essex Property Trust Inc. 0.05% 11,072 $3.4M No change
CBSH Commerce Bancshares Inc. 0.05% 54,151 $3.4M No change
MCO Moody's Corp. 0.04% 7,132 $3.3M No change
ICE Intercontinental Exchange Inc. 0.04% 19,137 $3.3M Reduce -5.9%
SEIC Sei Investments Company 0.04% 42,444 $3.3M No change
KMB Kimberly-Clark Corp. 0.04% 22,926 $3.3M No change
ORCL Oracle Corp. 0.04% 23,176 $3.2M Reduce -12.4%
OMC Omnicom Group 0.04% 38,472 $3.2M Add +3.1%
PEG Public Service Enterprise GP 0.04% 38,645 $3.2M Add +18.2%
LYV Live Nation Entertainment Inc. 0.04% 23,142 $3.0M New
HRB H&R Block Inc. filed as BLOCK H & R INC 0.04% 54,159 $3.0M No change
AIZ Assurant Inc. 0.04% 14,156 $3.0M No change
CBRE CBRE Group Inc. Class A 0.04% 22,679 $3.0M No change
ANET Arista Networks Inc. 0.04% 37,826 $2.9M Add +52.7%
ALLY Ally Financial Inc. 0.04% 78,430 $2.9M Reduce -21.7%
ZG Zillow Group Inc. Class A 0.04% 42,772 $2.9M No change
FFIV F5 Inc. 0.04% 10,494 $2.8M Add +110.0%
SYK Stryker Corp. 0.04% 7,407 $2.8M No change
FBIN Fortune Brands Innovations I 0.04% 45,157 $2.7M No change
FCNCA First Citizens Bcshs Class A 0.04% 1,474 $2.7M No change
VRT Vertiv Holdings Co. Class A 0.04% 37,555 $2.7M Reduce -14.3%
MAR Marriott International Class A 0.04% 11,309 $2.7M No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.04% 28,613 $2.6M No change
VOYA Voya Financial Inc. 0.04% 38,687 $2.6M Reduce -2.3%
JEF Jefferies Financial Group Inc. 0.04% 48,676 $2.6M No change
DAL Delta Air Lines Inc. 0.03% 59,044 $2.6M Add +52.7%
ZBH Zimmer Biomet Holdings Inc. 0.03% 22,603 $2.6M No change
NOW ServiceNow Inc. 0.03% 3,115 $2.5M No change
RSG Republic Services Inc. 0.03% 10,199 $2.5M No change
SYY Sysco Corp. 0.03% 32,898 $2.5M Add +348.8%
ISRG Intuitive Surgical Inc. 0.03% 4,793 $2.4M Add +144.4%
CHTR Charter Communications Inc. Class A 0.03% 6,366 $2.3M New
CINF Cincinnati Financial Corp. 0.03% 15,695 $2.3M No change
IR Ingersoll-Rand Inc. 0.03% 28,586 $2.3M No change
INGR Ingredion Inc. 0.03% 16,672 $2.3M No change
BRO Brown & Brown Inc. 0.03% 17,910 $2.2M No change
D Dominion Energy Inc. 0.03% 39,470 $2.2M No change
BR Broadridge Financial Solutio 0.03% 9,021 $2.2M No change
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.03% 11,889 $2.2M No change
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.03% 38,606 $2.1M Add +3.4%
PWR Quanta Services Inc. 0.03% 8,242 $2.1M No change
DHR Danaher Corp. 0.03% 9,366 $1.9M Reduce -71.7%
ED Consolidated Edison Inc. 0.02% 16,351 $1.8M Add +15.9%
DTE DTE Energy Company 0.02% 13,063 $1.8M Add +78.6%
PGR Progressive Corp. 0.02% 6,234 $1.8M No change
UHS Universal Health Services-B 0.02% 9,206 $1.7M No change
DVA Davita Inc. 0.02% 11,293 $1.7M No change
ARW Arrow Electronics Inc. 0.02% 16,477 $1.7M No change
HUBS HubSpot Inc. 0.02% 2,955 $1.7M No change
DD Dupont DE Nemours Inc. 0.02% 22,120 $1.7M Add +20.2%
LKQ LKQ Corp. 0.02% 37,980 $1.6M Reduce -5.6%
PPG PPG Industries Inc. 0.02% 14,471 $1.6M No change
KO The Coca-Cola Co. 0.02% 21,864 $1.6M Reduce -36.7%
CARR Carrier Global Corp. 0.02% 24,321 $1.5M No change
FCX Freeport-McMoran Inc. 0.02% 40,467 $1.5M No change
NWSA News Corp. Class A 0.02% 55,748 $1.5M New
MTB M & T Bank Corp. filed as M & T BK CORP 0.02% 8,412 $1.5M Add +20.5%
WPC WP Carey Inc. 0.02% 23,186 $1.5M Reduce -99.1%
VNT Vontier Corp. 0.02% 44,378 $1.5M No change
AKAM Akamai Technologies Inc. 0.02% 17,768 $1.4M Reduce -7.6%
ODFL Old Dominion Freight Line 0.02% 8,629 $1.4M Reduce -16.9%
AVB Avalonbay Communities Inc. 0.02% 6,076 $1.3M No change
WU Western Union Co. 0.02% 121,944 $1.3M No change
LYB Lyondellbasell Indu Class A 0.02% 18,192 $1.3M Reduce -8.8%
IDXX Idexx Laboratories Inc. 0.02% 3,037 $1.3M No change
MRP Millrose Properties 0.02% 46,955 $1.2M Add +58.6%
EIX Edison International 0.02% 21,090 $1.2M Reduce -18.1%
ULTA Ulta Beauty Inc. 0.02% 3,373 $1.2M No change
MCD McDonald's Corp. 0.02% 3,907 $1.2M No change
WST West Pharmaceutical Services 0.01% 4,921 $1.1M Reduce -59.9%
APO Apollo Global Management Inc. 0.01% 8,020 $1.1M No change
DECK Deckers Outdoor Corp. 0.01% 9,784 $1.1M Add +51.5%
MPWR Monolithic Power Systems Inc. 0.01% 1,839 $1.1M Reduce -5.2%
PANW Palo Alto Networks Inc. 0.01% 6,178 $1.1M New
ADSK Autodesk Inc. 0.01% 3,826 $1.0M No change
UI Ubiquiti Inc. 0.01% 3,010 $934K No change
BURL Burlington Stores Inc. 0.01% 3,880 $925K No change
WEC WEC Energy Group Inc. 0.01% 8,421 $918K New
CMS CMS Energy Corp. 0.01% 12,013 $902K No change
AME Ametek Inc. 0.01% 5,237 $901K No change
BBY Best Buy Co. Inc. 0.01% 12,208 $899K Reduce -6.2%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 12,208 $874K No change
GLW Corning Inc. 0.01% 17,582 $805K Add +12.7%
HBAN Huntington Bancshares Inc. 0.01% 50,604 $760K Add +39.6%
PTC PTC Inc. 0.01% 4,540 $703K No change
XYL Xylem Inc. 0.01% 5,855 $699K No change
FDS Factset Research Systems Inc. 0.01% 1,444 $657K No change
VTR Ventas Inc. 0.01% 9,185 $632K No change
GEHC GE Healthcare Technology 0.01% 7,406 $598K No change
KKR KKR & Co. Inc. 0.01% 5,097 $589K No change
CSX CSX Corp. 0.01% 18,981 $559K Reduce -82.1%
GM General Motors Co. 0.01% 11,840 $557K No change
CHRW C.H. Robinson Worldwide Inc. 0.01% 5,249 $537K New
EMN Eastman Chemical Co. 0.01% 5,319 $469K No change
BALL Ball Corp. 0.01% 7,953 $414K Reduce -11.4%
ETN Eaton Corp. PLC 0.01% 1,364 $371K Reduce -40.8%
FSLR First Solar Inc. 0.00% 2,763 $349K Reduce -48.9%
ABNB Airbnb Inc. Class A 0.00% 2,772 $331K Reduce -18.1%
KEY Keycorp 0.00% 19,960 $319K No change
TRU Transunion 0.00% 3,651 $303K No change
JBHT Hunt (jb) Transprt SVCS Inc. 0.00% 1,920 $284K No change
WLK Westlake Corp. 0.00% 2,668 $267K No change
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.00% 3,380 $264K Add +90.5%
RJF Raymond James Financial Inc. 0.00% 1,881 $261K Add +39.3%
DBD Diebold Nixdorf Inc. 0.00% 4,776 $209K New
IP International Paper Co. 0.00% 3,723 $199K New
FG F&G Annuities & Life Inc. 0.00% 5,320 $192K No change
WY Weyerhaeuser Co. 0.00% 5,171 $151K Reduce -85.4%
BBWI Bath & Body Works Inc. 0.00% 4,894 $148K No change
IPG Interpublic Group of Cos Inc. 0.00% 5,467 $148K No change
KIM Kimco Realty Corp. 0.00% 6,931 $147K New
NDAQ Nasdaq Inc. 0.00% 1,932 $147K New
IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 0.00% 1,780 $138K No change
HPQ HP Inc. 0.00% 4,634 $128K No change
SRE Sempra 0.00% 1,779 $127K No change
ZBRA Zebra Technologies Corp. Class A 0.00% 433 $122K No change
NET Cloudflare Inc. Class A 0.00% 899 $101K New

Portfolio Sells Q4 2024 → Q1 2025
WPC WP Carey Inc. Reduce -99.1% 0.02% −1.86
REG Regency Centers Corp. Reduce -76.5% 0.41% −1.32
SUI Sun Communities Inc. Reduce -63.0% 0.75% −1.16
EQIX Equinix Inc. Reduce -10.6% 4.09% −1.13
SPG Simon Property Group Inc. Reduce -30.6% 1.93% −0.91
AAPL Apple Inc. Reduce -6.9% 3.13% −0.61
ITRI Itron Inc. Reduce -40.8% 0.48% −0.35
KRC Kilroy Realty Corp. Reduce -3.1% 1.27% −0.32
TSLA Tesla Inc. Reduce -17.4% 0.32% −0.28
MSFT Microsoft Corp. Reduce -0.7% 2.16% −0.25
DLR Digital Realty Trust Inc. Reduce -1.1% 0.78% −0.18
FAST Fastenal Co. Sold out 0.00% −0.18
BRX Brixmor Property Group Inc. Reduce -11.0% 1.11% −0.18
TMO Thermo Fisher Scientific Inc. Reduce -7.1% 1.27% −0.14
AMAT Applied Materials Inc. Reduce -30.9% 0.18% −0.11
PNR Pentair PLC Reduce -53.6% 0.07% −0.10
PSA Public Storage Reduce -14.7% 0.62% −0.10
AWK American Water Works Co. Inc. Reduce -68.3% 0.06% −0.09
SFM Sprouts Farmers Market Inc. Sold out 0.00% −0.09
DHR Danaher Corp. Reduce -71.7% 0.03% −0.07
ARGX Argenx SE - ADR Reduce -14.0% 0.39% −0.07
LRCX Lam Research Corp. Reduce -38.5% 0.13% −0.07
COR Cencora Inc. Reduce -46.8% 0.13% −0.06
KLAC KLA Corp. Reduce -29.5% 0.19% −0.06
META Meta Platforms Inc. Class A Reduce -3.3% 1.46% −0.05
COST Costco Wholesale Corp. Reduce -18.1% 0.24% −0.04
NUE Nucor Corp. Sold out 0.00% −0.04
WST West Pharmaceutical Services Reduce -59.9% 0.01% −0.04
CSX CSX Corp. Reduce -82.1% 0.01% −0.04
UBER Uber Technologies Inc. Sold out 0.00% −0.04
VST Vistra Corp. Reduce -26.4% 0.06% −0.04
APH Amphenol Corp. Class A Reduce -15.1% 0.14% −0.03
QCOM Qualcomm Inc. Reduce -12.1% 0.25% −0.03
VRT Vertiv Holdings Co. Class A Reduce -14.3% 0.04% −0.03
LEN Lennar Corp. Class A Reduce -13.0% 0.08% −0.03
GL Globe Life Inc. Sold out 0.00% −0.03
UNH Unitedhealth Group Inc. Sold out 0.00% −0.02
GE General Electric Reduce -25.7% 0.21% −0.02
TER Teradyne Inc. Sold out 0.00% −0.02
FLEX Flex Ltd. Reduce -0.8% 0.11% −0.02
GRAL Grail Inc. Sold out 0.00% −0.02
A Agilent Technologies Inc. Reduce -5.7% 0.08% −0.02
ORCL Oracle Corp. Reduce -12.4% 0.04% −0.01
YUM Yum! Brands Inc. Reduce -24.9% 0.11% −0.01
HOLX Hologic Inc. Reduce -1.2% 0.08% −0.01
STLD Steel Dynamics Inc. Reduce -22.0% 0.08% −0.01
WY Weyerhaeuser Co. Reduce -85.4% 0.00% −0.01
DHI D.R. Horton Inc. Reduce -5.9% 0.07% −0.01
EIX Edison International Reduce -18.1% 0.02% −0.01
PHM Pultegroup Inc. Reduce -2.0% 0.16% −0.01

Portfolio Buys Q4 2024 → Q1 2025
FRT Federal Realty Invs Trust Add +8607.4% 1.33% +1.31
EPRT Essential Properties Realty New 1.26% +1.26
WELL Welltower Inc. Add +2.7% 5.46% +1.15
CPT Camden Property Trust New 1.10% +1.10
ADC Agree Realty Corp. Add +480.8% 1.00% +0.84
MAC The Macerich Co. New 0.80% +0.80
WMT Walmart Inc. New 0.44% +0.44
IRM Iron Mountain Inc. Add +47.4% 1.85% +0.34
NEE Nextera Energy Inc. Add +177.5% 0.36% +0.23
PLD Prologis Inc. Add +0.9% 3.01% +0.23
UDR Udr Inc. Add +5.9% 2.04% +0.21
SNPS Synopsys Inc. Add +168.8% 0.34% +0.20
CTRE Caretrust REIT Inc. New 0.19% +0.19
IQV Iqvia Holdings Inc. Add +586.8% 0.22% +0.18
HDB HDFC Bank Ltd.-ADR Add +30.7% 0.62% +0.17
EXR Extra Space Storage Inc. Add +5.1% 2.77% +0.15
WCN Waste Connections Inc. New 0.13% +0.13
GILD Gilead Sciences Inc. Add +154.1% 0.19% +0.13
BMRN Biomarin Pharmaceutical Inc. Add +43.5% 0.33% +0.12
COLD Americold Realty Trust Inc. Add +5.7% 1.70% +0.12
TTEK Tetra Tech Inc. Add +208.7% 0.19% +0.11
BMY Bristol-Myers Squibb Co. Add +122.4% 0.17% +0.10
T AT&T Inc. Add +30.1% 0.24% +0.09
DIS The Walt Disney Co. Add +200.9% 0.13% +0.08
DOC Healthpeak Properties Inc. Add +2.9% 2.01% +0.08
BRK.B Berkshire Hathaway Inc. Class B Add +4.0% 0.38% +0.07
WMS Advanced Drainage Systems Inc. Add +37.0% 0.30% +0.07
FOXA Fox Corp. Class A Add +47.8% 0.15% +0.06
HD Home Depot Inc. Add +41.7% 0.23% +0.06
VZ Verizon Communications Inc. Add +2391.1% 0.06% +0.06
CMCSA Comcast Corp. Class A Add +22.6% 0.30% +0.06
ITW Illinois Tool Works Add +20.2% 0.33% +0.05
LLY Eli Lilly & Co. Add +24.9% 0.19% +0.05
TWLO Twilio Inc. Class A Add +125.3% 0.09% +0.05
OTIS Otis Worldwide Corp. Add +8.1% 0.25% +0.04
MS Morgan Stanley Add +57.5% 0.14% +0.04
LYV Live Nation Entertainment Inc. New 0.04% +0.04
APP AppLovin Corp. Class A Add +78.5% 0.12% +0.04
HWM Howmet Aerospace Inc. Add +3.0% 0.20% +0.04
FTNT Fortinet Inc. Add +16.6% 0.22% +0.04
CHTR Charter Communications Inc. Class A New 0.03% +0.03
USB US Bancorp Add +63.4% 0.10% +0.03
TMUS T-Mobile US Inc. Add +14.4% 0.10% +0.03
ARE Alexandria Real Estate Equit Add +6.3% 1.27% +0.03
AFL Aflac Inc. Add +1.1% 0.29% +0.03
JCI Johnson Controls Internation Add +28.2% 0.11% +0.03
SYY Sysco Corp. Add +348.8% 0.03% +0.03
TJX TJX Companies Inc. Add +6.2% 0.32% +0.03
NTRS Northern Trust Corp. Add +61.8% 0.07% +0.02
NI Nisource Inc. Add +26.4% 0.08% +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