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PI

PGGM Investments Portfolio holdings

AUM $5.7B
1-Year Est. Return 17.05%
This Fund
S&P 500
This Quarter Est. Return
+4.54%
1 Year Est. Return
+17.05%
3 Year Est. Return
+53.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$17.8B
AUM Growth
-$2.44B
Cap. Flow
-$3.13B
Cap. Flow %
-17.56%
Top 10 Hldgs %
21.15%
Holding
409
New
30
Increased
92
Reduced
145
Closed
120

Top Buys

Rank Stock Value
1
INVH icon
Invitation Homes
INVH
+$94.9M
2
BXP icon
Boston Properties
BXP
+$92.1M
3
HPP
Hudson Pacific Properties
HPP
+$81M
4
ACN icon
Accenture
ACN
+$72.8M
5
APLE icon
Apple Hospitality REIT
APLE
+$69.8M

Top Sells

Rank Stock Value
1
GGP
GGP Inc.
GGP
+$228M
2
T icon
AT&T
T
+$222M
3
IBM icon
IBM
IBM
+$177M
4
WFC icon
Wells Fargo
WFC
+$170M
5
JNJ icon
Johnson & Johnson
JNJ
+$154M

Sector Composition

Rank Sector Weight
1 Real Estate 38.22%
2 Financials 10.71%
3 Healthcare 10.67%
4 Technology 9.79%
5 Consumer Staples 8.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DIS icon
26
Walt Disney
DIS
$170B
$171M 0.96%
1,593,000
+568,571
+56% +$58.6M
PEP icon
27
PepsiCo
PEP
$190B
$167M 0.93%
1,390,200
+170,865
+14% +$19.5M
MRK icon
28
Merck
MRK
$316B
$158M 0.89%
2,946,138
-1,692,993
-36% -$93.9M
LPT
29
DELISTED
Liberty Property Trust
LPT
$150M 0.84%
3,493,330
+496,330
+17% +$21.5M
MSFT icon
30
Microsoft
MSFT
$3.66T
$142M 0.8%
1,664,800
+838,139
+101% +$68.8M
NNN icon
31
NNN REIT
NNN
$8.97B
$133M 0.75%
3,090,029
– –
JPM icon
32
JPMorgan Chase
JPM
$950B
$132M 0.74%
1,235,400
-1,177,082
-49% -$119M
EXR icon
33
Extra Space Storage
EXR
$31.7B
$131M 0.74%
1,500,000
+29,054
+2% +$2.45M
GGP
34
DELISTED
GGP Inc.
GGP
$131M 0.73%
5,590,682
-10,242,000
-65% -$228M
T icon
35
AT&T
T
$160B
$127M 0.71%
4,332,658
-8,116,477
-65% -$222M
REG icon
36
Regency Centers
REG
$14.5B
$127M 0.71%
1,839,000
-470,000
-20% -$31M
FRT icon
37
Federal Realty Investment Trust
FRT
$10.6B
$120M 0.67%
904,000
-395,000
-30% -$51M
WBA
38
DELISTED
Walgreens Boots Alliance
WBA
$119M 0.66%
1,633,900
+651,354
+66% +$45.9M
CVS icon
39
CVS Health
CVS
$133B
$117M 0.65%
1,609,600
+339,193
+27% +$24.7M
LOW icon
40
Lowe's Companies
LOW
$122B
$117M 0.65%
1,254,000
+267,774
+27% +$22.1M
ACN icon
41
Accenture
ACN
$104B
$116M 0.65%
755,200
+502,396
+199% +$72.8M
GILD icon
42
Gilead Sciences
GILD
$168B
$113M 0.63%
1,578,091
-348,542
-18% -$26.5M
INTC icon
43
Intel
INTC
$509B
$110M 0.62%
2,382,700
-2,191,562
-48% -$95.6M
VTR icon
44
Ventas
VTR
$46.6B
$103M 0.58%
1,713,000
-118,062
-6% -$7.46M
ELV icon
45
Elevance Health
ELV
$82B
$102M 0.57%
451,400
+11,940
+3% +$2.54M
TJX icon
46
TJX Companies
TJX
$174B
$98.8M 0.55%
2,583,400
+569,730
+28% +$20.7M
INVH icon
47
Invitation Homes
INVH
$18.1B
$96.7M 0.54%
+4,101,000
New +$94.9M
C icon
48
Citigroup
C
$230B
$96.5M 0.54%
1,297,200
-235,864
-15% -$17.4M
CB icon
49
Chubb
CB
$134B
$92.6M 0.52%
633,800
+189,817
+43% +$28.4M
AMGN icon
50
Amgen
AMGN
$210B
$92.5M 0.52%
532,100
-174,528
-25% -$30.9M
1
2
3 4 5

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PGGM Investments's Q4 2017 Portfolio in Review

As of Q4 2017, PGGM Investments held 409 positions worth $17.8B, down 12% from $20.3B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

PGGM Investments withdrew a net $3.13B in Q4 2017, closing 120 positions and reducing 145 holdings. Its most notable exit was Wells Fargo, an estimated $170M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 38% of assets, up from 34% a quarter earlier, followed by Financials and Healthcare.

Against the trend, PGGM Investments opened a new position in Invitation Homes worth $96.7M.

  • PGGM Investments's largest Q4 2017 buy was Invitation Homes: 4,101,000 shares worth $96.7M.
  • PGGM Investments added most to Boston Properties in Q4 2017, an estimated $92.1M increase.
  • PGGM Investments's biggest Q4 2017 reduction was GGP Inc., cutting an estimated $228M.
  • PGGM Investments fully exited Wells Fargo in Q4 2017, selling an estimated $170M.
  • PGGM Investments's ten largest holdings make up 21% of its $17.8B portfolio in Q4 2017.
  • PGGM Investments opened 30 new positions and closed 120 in Q4 2017.
  • PGGM Investments's portfolio value fell 12% quarter-over-quarter to $17.8B.

Based on PGGM Investments's 13F filing for Q4 2017, filed 29 Jan 2018.