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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

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

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

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
SPG icon
1
Simon Property Group
SPG
$73.8B
$589M 3.3%
3,428,000
-209,334
-6% -$34M
EQR icon
2
Equity Residential
EQR
$25.9B
$425M 2.38%
6,666,000
-606,978
-8% -$40.5M
AAPL icon
3
Apple
AAPL
$4.85T
$390M 2.19%
9,220,800
+809,544
+10% +$33.8M
BXP icon
4
Boston Properties
BXP
$11.1B
$384M 2.15%
2,950,000
+734,542
+33% +$92.1M
PLD icon
5
Prologis
PLD
$138B
$372M 2.08%
5,765,000
– –
AVB icon
6
AvalonBay Communities
AVB
$27.3B
$356M 1.99%
1,993,000
+350,790
+21% +$63.7M
DLR icon
7
Digital Realty Trust
DLR
$64.3B
$337M 1.89%
2,957,000
+33,169
+1% +$3.91M
WELL icon
8
Welltower
WELL
$172B
$337M 1.89%
5,280,000
+511,088
+11% +$34.3M
PSA icon
9
Public Storage
PSA
$55.9B
$303M 1.7%
1,450,348
-36,066
-2% -$7.62M
ARE icon
10
Alexandria Real Estate Equities
ARE
$8.71B
$282M 1.58%
2,163,000
+209,900
+11% +$26.4M
HST icon
11
Host Hotels & Resorts
HST
$16.3B
$241M 1.35%
12,163,000
– –
JNJ icon
12
Johnson & Johnson
JNJ
$609B
$241M 1.35%
1,727,200
-1,107,647
-39% -$154M
DOC icon
13
Healthpeak Properties
DOC
$15.4B
$209M 1.17%
8,013,000
+2,336,126
+41% +$61.9M
SLG icon
14
SL Green Realty
SLG
$3.61B
$206M 1.15%
2,107,148
– –
KRC icon
15
Kilroy Realty
KRC
$4.65B
$203M 1.14%
2,715,681
– –
KIM icon
16
Kimco Realty
KIM
$17.5B
$194M 1.09%
10,704,000
-600,000
-5% -$11.2M
UNH icon
17
UnitedHealth
UNH
$393B
$193M 1.08%
877,300
-183,290
-17% -$38.8M
HD icon
18
Home Depot
HD
$341B
$192M 1.08%
1,012,400
+344,580
+52% +$59.5M
CMCSA icon
19
Comcast
CMCSA
$85B
$191M 1.07%
4,759,900
+399,515
+9% +$15M
PG icon
20
Procter & Gamble
PG
$350B
$189M 1.06%
2,061,000
-659,323
-24% -$59.3M
CSCO icon
21
Cisco
CSCO
$442B
$188M 1.06%
4,920,800
+233,284
+5% +$8.33M
PFE icon
22
Pfizer
PFE
$143B
$188M 1.06%
5,479,641
-60,441
-1% -$2.06M
UDR icon
23
UDR
UDR
$12.9B
$187M 1.05%
4,867,000
– –
ESS icon
24
Essex Property Trust
ESS
$18.8B
$176M 0.99%
730,000
-113,000
-13% -$28.5M
O icon
25
Realty Income
O
$61B
$172M 0.96%
3,111,480
-41,440
-1% -$2.25M
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.