PGGM Investments

CIK

1472190

Location

ZEIST, P7

Portfolio Value

Mid $5,736,017,952

Diversification

Diversified

Filing Date

Global Rank

#606 / 8,623 ▼ 26 · as of Mar 2026

Top Industry

REIT - Industrial 11.4%

3Y Alpha vs SPY

-5.6%

Period ended 4 months ago

Filed May 15, 2026 · 3mo

24 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+44.7%

SPY

+65.3%

Annualised alpha

-5.1%

Max drawdown

−18.7%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

67 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

6.0%

+0.0 pts

Top 5

22.1%

+0.2 pts

Top 10

35.3%

+0.2 pts

HHI

234

Diversified−1

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Real Estate	50.1%	$2,871,819,204	30
Healthcare	15.7%	$901,012,432	10
Technology	13.3%	$761,901,916	10
Basic Materials	6.4%	$367,648,410	3
Industrials	3.9%	$222,812,338	5
Financial Services	2.9%	$167,183,200	2
Consumer Defensive	2.8%	$162,070,939	4
Communication Services	2.7%	$156,430,627	1
Utilities	1.9%	$109,627,935	1
Consumer Cyclical	0.3%	$15,510,951	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

8 positions

Ticker	Company	Δ Shares	Shares	Value
RUN	Sunrun Inc.	+1,879,552	9,546,965	$129,456,845
HDB	Hdfc Bank Ltd	+475,308	4,275,216	$106,367,374
IQV	Iqvia Holdings Inc.	+131,273	374,759	$63,911,399
WCN	Waste Connections, Inc.	+30,631	454,290	$73,794,867
ARGX	Argenx SE	+16,684	71,514	$52,223,098
MSFT	Microsoft Corp	+12,337	421,020	$155,848,973
LLY	ELI LILLY & Co	+4,868	131,807	$121,232,124
PSA	Public Storage	+657	113,988	$30,877,069
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
INVH	Invitation Homes Inc.	−3,107,110	2,761,424	$68,621,386
AGRO	Adecoagro S.A.	−3,016,730	1,030,557	$15,478,966
KRC	Kilroy Realty Corp	−1,140,467	1,488,479	$41,989,992
HR	Healthcare Realty Trust Inc	−1,082,504	5,607,134	$95,265,206
COLD	Americold Realty Trust	−746,609	3,872,569	$44,379,640
UDR	UDR, Inc.	−664,352	3,469,122	$117,186,941
MAC	Macerich Co	−652,336	3,370,522	$63,702,865
BRX	Brixmor Property Group Inc.	−639,949	3,062,353	$88,195,766
FR	First Industrial Realty Trust Inc	−617,271	1,135,312	$65,677,799
ELS	Equity Lifestyle Properties Inc	−460,754	875,921	$54,674,988
EPRT	Essential Properties Realty Trust, Inc.	−442,779	2,298,189	$69,773,018
ARE	Alexandria Real Estate Equities, Inc.	−387,491	743,471	$34,511,923
DOC	Healthpeak Properties, Inc.	−321,123	5,382,570	$88,435,625
IRM	Iron Mountain Inc	−287,161	1,369,998	$139,931,595
WELL	Welltower Inc.	−286,828	1,751,383	$346,265,932
ALB	Albemarle Corp	−275,812	909,193	$163,227,419
NEE	Nextera Energy Inc	−273,429	1,180,318	$109,627,935
PLD	Prologis, Inc.	−256,561	2,282,385	$301,685,649
FRT	Federal Realty Investment Trust	−214,034	812,293	$86,273,639
EXR	Extra Space Storage Inc.	−212,277	1,197,251	$156,995,523
VTR	Ventas, Inc.	−204,988	1,070,352	$87,533,386
HST	Host Hotels & Resorts, Inc.	−196,539	1,030,749	$19,749,150
ILMN	Illumina, Inc.	−158,933	990,475	$122,085,948
REXR	Rexford Industrial Realty, Inc.	−158,092	823,674	$26,958,850
CUBE	CubeSmart	−152,410	791,438	$29,006,202
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
AZN	Astrazeneca PLC	645,456	$127,296,832
VLTO	Veralto Corp	701,938	$62,065,357
AMH	American Homes 4 Rent	1,680,955	$46,932,263
CUZ	Cousins Properties Inc	1,372,198	$30,970,508
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
JCI	Johnson Controls International plc	186,729	$22,360,797
TT	Trane Technologies plc	55,542	$21,616,946
HAIN	Hain Celestial Group Inc	189,734	$203,015
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

67 tracked positions · $5,736,017,952 total · filing declares 67 positions · $5,703,539 · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 67 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
WELL	Welltower Inc. Real Estate	Reduced	1,751,383	-286,828	$346,265,932	−8.5%	6.04%
PLD	Prologis, Inc. Real Estate	Reduced	2,282,385	-256,561	$301,685,649	−6.9%	5.26%
EQIX	Equinix Inc Real Estate	Reduced	305,073	-60,161	$299,044,757	+6.9%	5.21%
ALB	Albemarle Corp Basic Materials	Reduced	909,193	-275,812	$163,227,419	−2.6%	2.85%
EXR	Extra Space Storage Inc. Real Estate	Reduced	1,197,251	-212,277	$156,995,523	−14.5%	2.74%
GOOGL	Alphabet Inc. Communication Services	Held	543,993	0	$156,430,627	−8.1%	2.73%
MSFT	Microsoft Corp Technology	Added	421,020	+12,337	$155,848,973	−21.1%	2.72%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	309,197	-37,174	$151,979,601	−24.3%	2.65%
LIN	Linde PLC Basic Materials	Held	304,112	0	$150,766,565	+16.3%	2.63%
IRM	Iron Mountain Inc Real Estate	Reduced	1,369,998	-287,161	$139,931,595	+1.8%	2.44%
RUN	Sunrun Inc. Technology	Added	9,546,965	+1,879,552	$129,456,845	−8.2%	2.26%
AZN	Astrazeneca PLC Healthcare	NEW	645,456	NEW	$127,296,832	NEW	2.22%
NVDA	Nvidia Corp Technology	Held	726,231	0	$126,654,686	−6.5%	2.21%
ILMN	Illumina, Inc. Healthcare	Reduced	990,475	-158,933	$122,085,948	−19.0%	2.13%
AVB	Avalonbay Communities Inc Real Estate	Reduced	743,501	-38,455	$121,450,888	−14.3%	2.12%
LLY	ELI LILLY & Co Healthcare	Added	131,807	+4,868	$121,232,124	−11.1%	2.11%
SPG	Simon Property Group Inc. Real Estate	Reduced	638,078	-146,830	$119,020,689	−18.1%	2.07%
UDR	UDR, Inc. Real Estate	Reduced	3,469,122	-664,352	$117,186,941	−22.7%	2.04%
NEE	Nextera Energy Inc Utilities	Reduced	1,180,318	-273,429	$109,627,935	−6.1%	1.91%
HDB	Hdfc Bank Ltd Financial Services	Added	4,275,216	+475,308	$106,367,374	−23.4%	1.85%
HR	Healthcare Realty Trust Inc Real Estate	Reduced	5,607,134	-1,082,504	$95,265,206	−16.0%	1.66%
AAPL	Apple Inc. Technology	Held	357,916	0	$90,835,501	−6.6%	1.58%
DOC	Healthpeak Properties, Inc. Real Estate	Reduced	5,382,570	-321,123	$88,435,625	−3.6%	1.54%
BRX	Brixmor Property Group Inc. Real Estate	Reduced	3,062,353	-639,949	$88,195,766	−9.1%	1.54%
VTR	Ventas, Inc. Real Estate	Reduced	1,070,352	-204,988	$87,533,386	−11.3%	1.53%
FRT	Federal Realty Investment Trust Real Estate	Reduced	812,293	-214,034	$86,273,639	−16.6%	1.50%
ABT	Abbott Laboratories Healthcare	Held	810,054	0	$83,168,244	−18.1%	1.45%
MDT	Medtronic plc Healthcare	Reduced	910,258	-101,656	$78,873,855	−18.9%	1.38%
WCN	Waste Connections, Inc. Industrials	Added	454,290	+30,631	$73,794,867	−0.7%	1.29%
AVGO	Broadcom Inc. Technology	Held	235,723	0	$72,958,625	−10.6%	1.27%
REGN	Regeneron Pharmaceuticals, Inc. Healthcare	Held	92,584	0	$71,534,101	+0.1%	1.25%
ADC	Agree Realty Corp Real Estate	Reduced	932,633	-94,467	$70,301,875	−5.0%	1.23%
EPRT	Essential Properties Realty Trust, Inc. Real Estate	Reduced	2,298,189	-442,779	$69,773,018	−14.2%	1.22%
INVH	Invitation Homes Inc. Real Estate	Reduced	2,761,424	-3,107,110	$68,621,386	−57.9%	1.20%
FR	First Industrial Realty Trust Inc Real Estate	Reduced	1,135,312	-617,271	$65,677,799	−34.6%	1.15%
DLR	Digital Realty Trust, Inc. Real Estate	Reduced	364,315	-69,925	$65,653,206	−2.3%	1.14%
IQV	Iqvia Holdings Inc. Healthcare	Added	374,759	+131,273	$63,911,399	+16.4%	1.11%
MAC	Macerich Co Real Estate	Reduced	3,370,522	-652,336	$63,702,865	−14.2%	1.11%
VLTO	Veralto Corp Industrials	NEW	701,938	NEW	$62,065,357	NEW	1.08%
V	Visa Inc. Financial Services	Held	201,217	0	$60,815,826	−13.8%	1.06%
RHP	Ryman Hospitality Properties, Inc. Real Estate	Reduced	658,425	-126,575	$60,752,874	−18.2%	1.06%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Held	830,238	0	$60,350,000	+26.4%	1.05%
SNPS	Synopsys Inc Technology	Held	140,654	0	$55,766,497	−15.6%	0.97%
ELS	Equity Lifestyle Properties Inc Real Estate	Reduced	875,921	-460,754	$54,674,988	−32.5%	0.95%
CTVA	Corteva, Inc. Basic Materials	Held	640,956	0	$53,654,426	+24.9%	0.94%
ARGX	Argenx SE Healthcare	Added	71,514	+16,684	$52,223,098	+13.3%	0.91%
PG	PROCTER & GAMBLE Co Consumer Defensive	Held	336,355	0	$48,583,116	+0.8%	0.85%
AMH	American Homes 4 Rent Real Estate	NEW	1,680,955	NEW	$46,932,263	NEW	0.82%
COLD	Americold Realty Trust Real Estate	Reduced	3,872,569	-746,609	$44,379,640	−25.3%	0.77%
CDNS	Cadence Design Systems Inc Technology	Held	158,267	0	$43,977,651	−11.1%	0.77%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.