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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
CMS icon
126
CMS Energy
CMS
$22.3B
– –
-12,013
Closed -$902K
CNA icon
127
CNA Financial
CNA
$14.1B
– –
-81,008
Closed -$4.11M
COF icon
128
Capital One
COF
$134B
– –
-41,572
Closed -$7.45M
COR icon
129
Cencora
COR
$61.2B
– –
-33,508
Closed -$9.32M
COST icon
130
Costco
COST
$420B
– –
-19,032
Closed -$18M
CRM icon
131
Salesforce
CRM
$158B
– –
-43,111
Closed -$11.6M
CTAS icon
132
Cintas
CTAS
$81.3B
– –
-131,784
Closed -$27.1M
CSX icon
133
CSX Corp
CSX
$93.1B
– –
-18,981
Closed -$559K
CTSH icon
134
Cognizant
CTSH
$26B
– –
-128,303
Closed -$9.81M
D icon
135
Dominion Energy
D
$59.3B
– –
-39,470
Closed -$2.21M
DAL icon
136
Delta Air Lines
DAL
$60.1B
– –
-59,044
Closed -$2.57M
DASH icon
137
DoorDash
DASH
$93.7B
– –
-18,788
Closed -$3.43M
DBD icon
138
Diebold Nixdorf
DBD
$2.56B
– –
-4,776
Closed -$209K
DD icon
139
DuPont de Nemours
DD
$19.2B
– –
-17,622
Closed -$1.65M
DE icon
140
Deere & Co
DE
$168B
– –
-10,370
Closed -$4.87M
DECK icon
141
Deckers Outdoor
DECK
$13.3B
– –
-9,784
Closed -$1.09M
DFS
142
DELISTED
Discover Financial Services
DFS
– –
-32,110
Closed -$5.48M
DGX icon
143
Quest Diagnostics
DGX
$26.3B
– –
-25,230
Closed -$4.27M
DHI icon
144
D.R. Horton
DHI
$42.3B
– –
-41,564
Closed -$5.28M
DHR icon
145
Danaher
DHR
$144B
– –
-9,366
Closed -$1.92M
DIS icon
146
Walt Disney
DIS
$181B
– –
-94,657
Closed -$9.34M
DOCU
147
DocuSign
DOCU
$11.5B
– –
-121,162
Closed -$9.86M
DOV icon
148
Dover
DOV
$28.4B
– –
-72,346
Closed -$12.7M
DOX icon
149
Amdocs
DOX
$6.22B
– –
-78,714
Closed -$7.2M
DPZ icon
150
Domino's
DPZ
$11.6B
– –
-10,243
Closed -$4.71M
4 5
6
7 8

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ACM
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VH
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O
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XT
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HW
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AAM
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RWM
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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.