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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
HPQ icon
201
HP
HPQ
$27.5B
– –
-4,634
Closed -$128K
HRB icon
202
H&R Block
HRB
$5.86B
– –
-54,159
Closed -$2.97M
HUBS icon
203
HubSpot
HUBS
$10.5B
– –
-2,955
Closed -$1.69M
HWM icon
204
Howmet Aerospace
HWM
$112B
– –
-113,429
Closed -$14.7M
ICE icon
205
Intercontinental Exchange
ICE
$84.4B
– –
-19,137
Closed -$3.3M
IDXX icon
206
Idexx Laboratories
IDXX
$46.2B
– –
-3,037
Closed -$1.27M
IEX icon
207
IDEX
IEX
$17.3B
– –
-35,792
Closed -$6.48M
IFF icon
208
International Flavors & Fragrances
IFF
$21.9B
– –
-1,780
Closed -$138K
INGR icon
209
Ingredion
INGR
$6.58B
– –
-16,672
Closed -$2.25M
IP icon
210
International Paper
IP
$22B
– –
-3,723
Closed -$199K
IPG
211
DELISTED
Interpublic Group of Companies
IPG
– –
-5,467
Closed -$148K
IR icon
212
Ingersoll Rand
IR
$33.7B
– –
-28,586
Closed -$2.29M
IT icon
213
Gartner
IT
$11.7B
– –
-37,743
Closed -$15.8M
ITW icon
214
Illinois Tool Works
ITW
$84.5B
– –
-98,358
Closed -$24.4M
JBHT icon
215
JB Hunt Transport Services
JBHT
$25.2B
– –
-1,920
Closed -$284K
JEF icon
216
Jefferies Financial Group
JEF
$13.1B
– –
-48,676
Closed -$2.61M
JKHY icon
217
Jack Henry & Associates
JKHY
$11.1B
– –
-11,889
Closed -$2.17M
JPM icon
218
JPMorgan Chase
JPM
$950B
– –
-275,567
Closed -$67.6M
KEY icon
219
KeyCorp
KEY
$24.4B
– –
-19,960
Closed -$319K
KIM icon
220
Kimco Realty
KIM
$16.4B
– –
-6,931
Closed -$147K
KKR icon
221
KKR & Co
KKR
$92.3B
– –
-5,097
Closed -$589K
KLAC icon
222
KLA
KLAC
$259B
– –
-208,270
Closed -$14.2M
KMB icon
223
Kimberly-Clark
KMB
$36.5B
– –
-22,926
Closed -$3.26M
KO icon
224
Coca-Cola
KO
$375B
– –
-21,864
Closed -$1.57M
L icon
225
Loews
L
$23.6B
– –
-165,555
Closed -$15.2M
7 8
9
10 11

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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.