PGGM Investments

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, PGGM Investments maintained a portfolio of 70 distinct positions. The most significant new addition to the portfolio was HEALTHCARE RLTY TR C, which now represents 1.80% of the total fund value. They heavily accumulated shares in PROLOGIS INC. COM, increasing their position by 29.2%. The fund also reduced its exposure to EQUITY LIFESTYLE PPT by 34.5%.
PCA Score Concentration Risk
Risk ENB
Total Positions
70
Quarter
2025 Q4
Top Holding
WELL (6.0%)
Top 10 Concentration
35.1%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 70
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
WELL
WELLTOWER INC C...
Real Estate 5.99% 8.07% #1
Prev: #1
4.4 -762,541 -27.2%
P
S
2,038,211 $378,312,000 2015 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
PLD
PROLOGIS INC. C...
Real Estate 5.13% 3.64% #2 1
Prev: #3
6.1 574,387 29.2%
P
S
2,538,946 $324,122,000 2011 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
EQIX
EQUINIX INC COM
Real Estate 4.43% 4.71% #3 1
Prev: #2
3.3 -6,798 -1.8%
P
S
365,234 $279,828,000 2015 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TMO
THERMO FISHER S...
Healthcare 3.18% 3.08% #4 2
Prev: #6
2.3 -45,549 -11.6%
P
S
346,371 $200,705,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MSFT
MICROSOFT CORP ...
Technology 3.13% 3.18% #5
Prev: #5
3.8 29,114 7.7%
P
S
408,683 $197,647,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
EXR
EXTRA SPACE STO...
Real Estate 2.91% 3.32% #6 2
Prev: #4
1.7 -48,246 -3.3%
P
S
1,409,528 $183,549,000 2012 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
GOOGL
ALPHABET INC CA...
Communication Services 2.70% 2.17% #7 8
Prev: #15
1.6 -8,571 -1.6%
P
S
543,993 $170,270,000 2015 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ALB
ALBEMARLE CORP ...
Basic Materials 2.65% 1.55% #8 20
Prev: #28
2.1 no change no change
P
S
1,185,005 $167,607,000 2021 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
INVH
INVITATION HOME...
Real Estate 2.58% 2.69% #9 1
Prev: #8
1.5 195,814 3.5%
P
S
5,868,534 $163,087,000 2017 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
UDR
UDR INC COM
Real Estate 2.40% 2.40% #10 1
Prev: #9
1.5 154,119 3.9%
P
S
4,133,474 $151,616,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ILMN
ILLUMINA INC CO...
Healthcare 2.39% 1.77% #11 9
Prev: #20
2.0 no change no change
P
S
1,149,408 $150,756,000 2011 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SPG
SIMON PPTY GROU...
Real Estate 2.30% 2.38% #12 2
Prev: #10
1.9 no change no change
P
S
784,908 $145,294,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AVB
AVALONBAY CMNTY...
Real Estate 2.24% 1.59% #13 12
Prev: #25
3.9 272,682 53.5%
P
S
781,956 $141,776,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
RUN
SUNRUN INC COM
Technology 2.23% 2.31% #14 2
Prev: #12
1.4 -589,528 -7.1%
P
S
7,667,413 $141,080,000 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
HDB
HDFC BANK LTD S...
Financial Services 2.20% 2.10% #15 1
Prev: #16
1.9 no change no change
P
S
3,799,908 $138,849,000 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
IRM
IRON MTN INC DE...
Real Estate 2.18% 2.78% #16 9
Prev: #7
1.4 -27,622 -1.6%
P
S
1,657,159 $137,461,000 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
LLY
ELI LILLY CO ...
Healthcare 2.16% 1.19% #17 18
Prev: #35
3.4 30,170 31.2%
P
S
126,939 $136,419,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
NVDA
NVIDIA CORPORAT...
Technology 2.14% 2.19% #18 4
Prev: #14
1.9 no change no change
P
S
726,231 $135,442,000 2014 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
LIN
LINDE PLC SHS
Basic Materials 2.05% 2.34% #19 8
Prev: #11
1.8 no change no change
P
S
304,112 $129,670,000 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NEE
NEXTERA ENERGY ...
Utilities 1.85% 1.59% #20 6
Prev: #26
2.7 152,441 11.7%
P
S
1,453,747 $116,707,000 2010 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
HR
HEALTHCARE RLTY...
Real Estate 1.80% #21
Prev: #—
4.2 6,689,638 no change
NEW
6,689,638 $113,389,000 2015 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
FRT
FEDERAL RLTY IN...
Real Estate 1.64% 1.76% #22 1
Prev: #21
1.2 -45,488 -4.2%
P
S
1,026,327 $103,454,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ABT
ABBOTT LABS COM
Healthcare 1.61% 1.76% #23 1
Prev: #22
1.6 no change no change
P
S
810,054 $101,492,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
FR
FIRST INDL RLTY...
Real Estate 1.59% 1.95% #24 6
Prev: #18
0.6 -584,517 -25.0%
P
S
1,752,583 $100,370,000 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
VTR
VENTAS INC COM
Real Estate 1.56% #25
Prev: #—
4.1 1,275,340 no change
NEW
1,275,340 $98,686,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
KRC
KILROY RLTY COR...
Real Estate 1.56% 1.70% #26 3
Prev: #23
2.6 148,376 6.0%
P
S
2,628,946 $98,244,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AAPL
APPLE INC COM
Technology 1.54% 1.40% #27 3
Prev: #30
2.6 18,687 5.5%
P
S
357,916 $97,303,000 2013 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
MDT
MEDTRONIC PLC S...
Healthcare 1.54% 1.84% #28 9
Prev: #19
1.1 -179,314 -15.1%
P
S
1,011,914 $97,204,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
BRX
BRIXMOR PPTY GR...
Real Estate 1.54% 1.66% #29 5
Prev: #24
1.6 no change no change
P
S
3,702,302 $97,074,000 2023 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
DOC
HEALTHPEAK PROP...
Real Estate 1.45% 2.29% #30 17
Prev: #13
0.6 -1,671,035 -22.7%
P
S
5,703,693 $91,715,000 2016 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AVGO
BROADCOM INC CO...
Technology 1.29% 1.57% #31 4
Prev: #27
1.0 -57,827 -19.7%
P
S
235,723 $81,584,000 2021 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
EPRT
ESSENTIAL PPTYS...
Real Estate 1.29% 1.32% #32 1
Prev: #33
1.5 no change no change
P
S
2,740,968 $81,297,000 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ELS
EQUITY LIFESTYL...
Real Estate 1.28% 2.00% #33 16
Prev: #17
0.5 -704,657 -34.5%
P
S
1,336,675 $81,016,000 2021 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
WCN
WASTE CONNECTIO...
Industrials 1.18% 0.72% #34 15
Prev: #49
3.5 169,504 66.7%
P
S
423,659 $74,293,000 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
RHP
RYMAN HOSPITALI...
Real Estate 1.18% 1.08% #35 4
Prev: #39
2.5 43,166 5.8%
P
S
785,000 $74,277,000 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
MAC
MACERICH CO COM
Real Estate 1.18% 1.18% #36 1
Prev: #37
1.5 no change no change
P
S
4,022,858 $74,262,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ADC
AGREE RLTY CORP...
Real Estate 1.17% 1.34% #37 6
Prev: #31
1.0 -141,927 -12.1%
P
S
1,027,100 $73,982,000 2017 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
REGN
REGENERON PHARM...
Healthcare 1.13% 0.84% #38 8
Prev: #46
1.5 no change no change
P
S
92,584 $71,463,000 2020 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
V
VISA INC COM CL...
Financial Services 1.12% 1.03% #39 1
Prev: #40
2.4 14,702 7.9%
P
S
201,217 $70,569,000 2010 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DLR
DIGITAL RLTY TR...
Real Estate 1.06% 1.21% #40 6
Prev: #34
1.4 no change no change
P
S
434,240 $67,181,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SNPS
SYNOPSYS INC CO...
Technology 1.05% 1.12% #41 3
Prev: #38
1.4 no change no change
P
S
140,654 $66,068,000 2010 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
COLD
AMERICOLD REALT...
Real Estate 0.94% 0.91% #42 1
Prev: #43
1.4 no change no change
P
S
4,619,178 $59,403,000 2021 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ARE
ALEXANDRIA REAL...
Real Estate 0.88% 1.53% #43 14
Prev: #29
1.4 no change no change
P
S
1,130,962 $55,349,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
IQV
IQVIA HLDGS INC...
Healthcare 0.87% 0.61% #44 7
Prev: #51
2.8 44,788 22.5%
P
S
243,486 $54,884,000 2021 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ROP
ROPER TECHNOLOG...
Technology 0.85% 0.97% #45 4
Prev: #41
1.3 no change no change
P
S
120,496 $53,636,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MKC
MCCORMICK CO ...
Consumer Defensive 0.81% 0.73% #46 2
Prev: #48
2.3 69,034 10.2%
P
S
746,607 $50,851,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
CDNS
CADENCE DESIGN ...
Technology 0.78% 0.90% #47 3
Prev: #44
1.3 no change no change
P
S
158,267 $49,471,000 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WMS
ADVANCED DRAIN ...
Industrials 0.78% 0.87% #48 3
Prev: #45
0.8 -48,617 -12.5%
P
S
339,867 $49,223,000 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
PG
PROCTER AND GAM...
Consumer Defensive 0.76% #49
Prev: #—
3.8 336,355 no change
NEW
336,355 $48,203,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ADM
ARCHER DANIELS ...
Consumer Defensive 0.76% 0.80% #50 3
Prev: #47
1.3 no change no change
P
S
830,238 $47,730,000 2010 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-50 of 70 holdings

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