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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
WELL icon
1
Welltower
WELL
$175B
$409M 7.1%
2,662,087
+20,616
+0.8% +$3.08M
EQIX icon
2
Equinix
EQIX
$103B
$296M 5.13%
372,032
– –
EXR icon
3
Extra Space Storage
EXR
$31.3B
$204M 3.53%
1,382,549
– –
PLD icon
4
Prologis
PLD
$137B
$201M 3.49%
1,915,592
-79,257
-4% -$8.31M
MSFT icon
5
Microsoft
MSFT
$2.89T
$189M 3.27%
379,569
-47,140
-11% -$20.5M
INVH icon
6
Invitation Homes
INVH
$17.6B
$165M 2.85%
5,019,181
-11,504
-0.2% -$386K
IRM icon
7
Iron Mountain
IRM
$37.8B
$161M 2.78%
1,565,792
-32,176
-2% -$3.03M
TMO icon
8
Thermo Fisher Scientific
TMO
$208B
$159M 2.76%
391,920
+202,045
+106% +$84.5M
UDR icon
9
UDR
UDR
$12.8B
$150M 2.6%
3,677,772
+328,117
+10% +$13.6M
HDB icon
10
HDFC Bank
HDB
$119B
$146M 2.53%
3,799,908
+2,413,184
+174% +$87.5M
LIN icon
11
Linde
LIN
$234B
$143M 2.47%
304,112
+155,100
+104% +$70.8M
DOC icon
12
Healthpeak Properties
DOC
$15.5B
$129M 2.24%
7,374,728
– –
SPG icon
13
Simon Property Group
SPG
$75.1B
$126M 2.19%
784,908
-74,935
-9% -$11.8M
FRT icon
14
Federal Realty Investment Trust
FRT
$11B
$118M 2.05%
1,245,342
+238,679
+24% +$22.6M
ELS icon
15
Equity Lifestyle Properties
ELS
$12.6B
$117M 2.02%
1,892,266
-25,566
-1% -$1.63M
ABT icon
16
Abbott
ABT
$182B
$115M 1.99%
844,272
+184,602
+28% +$24.3M
NVDA icon
17
NVIDIA
NVDA
$4.76T
$115M 1.99%
726,231
-1,177,849
-62% -$148M
ILMN icon
18
Illumina
ILMN
$28.7B
$110M 1.9%
1,149,408
+614,973
+115% +$49.9M
MDT icon
19
Medtronic
MDT
$108B
$109M 1.89%
1,248,594
+98,262
+9% +$8.33M
KRC icon
20
Kilroy Realty
KRC
$4.58B
$106M 1.84%
3,100,393
+234,624
+8% +$7.65M
AVB icon
21
AvalonBay Communities
AVB
$26.8B
$97.5M 1.69%
478,966
+472,890
+7,783% +$96.7M
GOOGL icon
22
Alphabet (Google) Class A
GOOGL
$3.99T
$92.5M 1.6%
524,638
-268,626
-34% -$44M
CTVA icon
23
Corteva
CTVA
$58.6B
$91.2M 1.58%
1,223,444
+497,200
+68% +$33.1M
NEE icon
24
NextEra Energy
NEE
$185B
$90.3M 1.57%
1,301,306
+924,003
+245% +$64.2M
EPRT icon
25
Essential Properties Realty Trust
EPRT
$6.9B
$87.5M 1.52%
2,740,968
-131,936
-5% -$4.21M
1
2 3 4 5

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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.