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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
+3.03%
1 Year Est. Return
+17.05%
3 Year Est. Return
+53.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$5.77B
AUM Growth
-$1.65B
Cap. Flow
-$1.7B
Cap. Flow %
-29.54%
Top 10 Hldgs %
36.05%
Holding
352
New
5
Increased
36
Reduced
17
Closed
284

Top Buys

Rank Stock Value
1
AVB icon
AvalonBay Communities
AVB
+$96.7M
2
HDB icon
HDFC Bank
HDB
+$87.5M
3
TMO icon
Thermo Fisher Scientific
TMO
+$84.5M
4
FR icon
First Industrial Realty Trust
FR
+$78M
5
LIN icon
Linde
LIN
+$70.8M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$165M
2
NVDA icon
NVIDIA
NVDA
+$148M
3
META icon
Meta Platforms (Facebook)
META
+$108M
4
AMZN icon
Amazon
AMZN
+$101M
5
JPM icon
JPMorgan Chase
JPM
+$67.6M

Sector Composition

Rank Sector Weight
1 Real Estate 55.8%
2 Healthcare 13.14%
3 Technology 12.59%
4 Materials 5.6%
5 Industrials 3.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBY icon
101
Best Buy
BBY
$17.3B
– –
-12,208
Closed -$899K
BNY
102
Bank of New York Mellon
BNY
$107B
– –
-200,252
Closed -$16.8M
BKNG icon
103
Booking.com
BKNG
$161B
– –
-234,300
Closed -$43.2M
BLDR icon
104
Builders FirstSource
BLDR
$8.04B
– –
-55,732
Closed -$6.96M
BLK icon
105
Blackrock
BLK
$176B
– –
-4,095
Closed -$3.88M
BMY icon
106
Bristol-Myers Squibb
BMY
$132B
– –
-202,639
Closed -$12.4M
BR icon
107
Broadridge
BR
$19B
– –
-9,021
Closed -$2.19M
BRK.B icon
108
Berkshire Hathaway Class B
BRK.B
$1.13T
– –
-52,874
Closed -$28.2M
BRO icon
109
Brown & Brown
BRO
$23.9B
– –
-17,910
Closed -$2.23M
BURL icon
110
Burlington
BURL
$23.2B
– –
-3,880
Closed -$925K
C icon
111
Citigroup
C
$226B
– –
-261,561
Closed -$18.6M
CAH icon
112
Cardinal Health
CAH
$55.4B
– –
-96,115
Closed -$13.2M
CARR icon
113
Carrier Global
CARR
$52.8B
– –
-24,321
Closed -$1.54M
CB icon
114
Chubb
CB
$135B
– –
-52,366
Closed -$15.8M
CBRE icon
115
CBRE Group
CBRE
$42.9B
– –
-22,679
Closed -$2.97M
CBSH icon
116
Commerce Bancshares
CBSH
$8.5B
– –
-56,859
Closed -$3.37M
CF icon
117
CF Industries
CF
$17.3B
– –
-3,380
Closed -$264K
CFG icon
118
Citizens Financial Group
CFG
$30.6B
– –
-138,277
Closed -$5.67M
CHRW icon
119
C.H. Robinson
CHRW
$17.5B
– –
-5,249
Closed -$537K
CHTR icon
120
Charter Communications
CHTR
$18.2B
– –
-6,366
Closed -$2.35M
CI icon
121
Cigna
CI
$74.6B
– –
-37,192
Closed -$12.2M
CINF icon
122
Cincinnati Financial
CINF
$27.1B
– –
-15,695
Closed -$2.32M
CL icon
123
Colgate-Palmolive
CL
$74.4B
– –
-143,107
Closed -$13.4M
CMCSA icon
124
Comcast
CMCSA
$90B
– –
-612,782
Closed -$22.6M
CMI icon
125
Cummins
CMI
$88.7B
– –
-19,622
Closed -$6.15M
3 4
5
6 7

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TSW
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ACM
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VH
ValueAct Holdings San Francisco, California $5.71B AUM 7.41% 1-Year Est. Return
O
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XT
XTX Topco George Town, Cayman Islands $5.75B AUM 30.56% 1-Year Est. Return
HW
Hancock Whitney Gulfport, Mississippi $5.75B AUM 24.3% 1-Year Est. Return
AAM
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RWM
Ritholtz Wealth Management New York $5.76B AUM 24.57% 1-Year Est. Return

PGGM Investments's Q2 2025 Portfolio in Review

As of Q2 2025, PGGM Investments held 352 positions worth $5.77B, down 22% from $7.42B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

PGGM Investments withdrew a net $1.7B in Q2 2025, closing 284 positions and reducing 17 holdings. Its most notable exit was Meta Platforms (Facebook), an estimated $108M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 56% of assets, up from 45% a quarter earlier, followed by Healthcare and Technology.

Against the trend, PGGM Investments opened a new position in First Industrial Realty Trust worth $77M.

  • PGGM Investments's largest Q2 2025 buy was First Industrial Realty Trust: 1,600,623 shares worth $77M.
  • PGGM Investments added most to AvalonBay Communities in Q2 2025, an estimated $96.7M increase.
  • PGGM Investments's biggest Q2 2025 reduction was Apple, cutting an estimated $165M.
  • PGGM Investments fully exited Meta Platforms (Facebook) in Q2 2025, selling an estimated $108M.
  • PGGM Investments's ten largest holdings make up 36% of its $5.77B portfolio in Q2 2025.
  • PGGM Investments opened 5 new positions and closed 284 in Q2 2025.
  • PGGM Investments's portfolio value fell 22% quarter-over-quarter to $5.77B.

Based on PGGM Investments's 13F filing for Q2 2025, filed 18 Jul 2025.