# PGGM Investments

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1472190. Source: https://holderbook.com/funds/1472190-pggm-investments/

- Reported value: $4.1B
- Positions: 59
- Weight of the ten largest: 39.0%
- Filed: 2026-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $218.5M | 1,092,096 | 5.4% | 13 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $194.4M | 543,993 | 4.8% | 25 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $175.3M | 349,737 | 4.3% | 30 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $158.1M | 131,807 | 3.9% | 8 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $157.8M | 304,112 | 3.9% | 14 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $157.0M | 421,020 | 3.9% | 30 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $153.1M | 529,053 | 3.8% | 30 |
| SUNRUN INC | [RUN](https://holderbook.com/stocks/RUN/) | $127.7M | 9,546,965 | 3.1% | 18 |
| ALBEMARLE CORP | [ALB](https://holderbook.com/stocks/ALB/) | $122.8M | 909,193 | 3.0% | 16 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $120.3M | 4,657,592 | 3.0% | 10 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $116.8M | 112,020 | 2.9% | 20 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $102.1M | 449,807 | 2.5% | 30 |
| ILLUMINA INC | [ILMN](https://holderbook.com/stocks/ILMN/) | $93.5M | 531,623 | 2.3% | 16 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $91.0M | 645,456 | 2.2% | 2 |
| ARGENX SE | [ARGX](https://holderbook.com/stocks/ARGX/) | $89.5M | 96,511 | 2.2% | 14 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $89.0M | 235,723 | 2.2% | 21 |
| EXTRA SPACE STORAGE INC | [EXR](https://holderbook.com/stocks/EXR/) | $88.0M | 605,602 | 2.2% | 30 |
| IRON MTN INC DEL | [IRM](https://holderbook.com/stocks/IRM/) | $85.3M | 675,093 | 2.1% | 14 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $83.4M | 918,634 | 2.1% | 30 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $79.7M | 232,432 | 2.0% | 26 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $77.5M | 401,347 | 1.9% | 20 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $76.5M | 871,243 | 1.9% | 19 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $75.7M | 454,290 | 1.9% | 6 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $74.7M | 167,434 | 1.8% | 25 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $71.2M | 910,258 | 1.8% | 30 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $64.2M | 171,149 | 1.6% | 5 |
| VERALTO CORP | [VLTO](https://holderbook.com/stocks/VLTO/) | $62.2M | 701,938 | 1.5% | 2 |
| ARCHER DANIELS MIDLAND CO | [ADM](https://holderbook.com/stocks/ADM/) | $58.6M | 766,629 | 1.4% | 16 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $57.7M | 92,584 | 1.4% | 18 |
| HEALTHCARE RLTY TR | [HR](https://holderbook.com/stocks/HR/) | $55.6M | 2,758,771 | 1.4% | 3 |
| TETRA TECH INC NEW | [TTEK](https://holderbook.com/stocks/TTEK/) | $54.2M | 1,874,895 | 1.3% | 9 |
| HEALTHPEAK PROPERTIES INC | [DOC](https://holderbook.com/stocks/DOC/) | $53.2M | 2,484,558 | 1.3% | 26 |
| SIMON PPTY GROUP INC NEW | [SPG](https://holderbook.com/stocks/SPG/) | $52.4M | 234,295 | 1.3% | 30 |
| AMERICOLD REALTY TRUST INC | [COLD](https://holderbook.com/stocks/COLD/) | $52.1M | 3,313,846 | 1.3% | 9 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $49.3M | 336,355 | 1.2% | 3 |
| EQUITY LIFESTYLE PROPERTIES | [ELS](https://holderbook.com/stocks/ELS/) | $48.3M | 749,867 | 1.2% | 20 |
| AMERICAN HOMES 4 RENT | [AMH](https://holderbook.com/stocks/AMH/) | $48.2M | 1,439,038 | 1.2% | 2 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $44.4M | 524,475 | 1.1% | 24 |
| MACERICH CO | [MAC](https://holderbook.com/stocks/MAC/) | $41.8M | 1,658,943 | 1.0% | 6 |
| ROPER TECHNOLOGIES INC | [ROP](https://holderbook.com/stocks/ROP/) | $40.8M | 120,496 | 1.0% | 16 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $38.9M | 287,280 | 1.0% | 30 |
| MCCORMICK & CO INC | [MKC](https://holderbook.com/stocks/MKC/) | $37.6M | 746,607 | 0.9% | 5 |
| VENTAS INC | [VTR](https://holderbook.com/stocks/VTR/) | $34.9M | 393,021 | 0.9% | 3 |
| ALEXANDRIA REAL ESTATE EQ IN | [ARE](https://holderbook.com/stocks/ARE/) | $33.6M | 636,465 | 0.8% | 8 |
| CORE & MAIN INC | [CNM](https://holderbook.com/stocks/CNM/) | $32.6M | 674,767 | 0.8% | 5 |
| RYMAN HOSPITALITY PPTYS INC | [RHP](https://holderbook.com/stocks/RHP/) | $31.1M | 241,645 | 0.8% | 9 |
| INVITATION HOMES INC | [INVH](https://holderbook.com/stocks/INVH/) | $30.6M | 1,013,919 | 0.8% | 30 |
| ADVANCED DRAIN SYS INC DEL | [WMS](https://holderbook.com/stocks/WMS/) | $29.9M | 190,291 | 0.7% | 15 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $24.8M | 62,273 | 0.6% | 8 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $24.0M | 133,769 | 0.6% | 30 |
| APTIV PLC | [APTV](https://holderbook.com/stocks/APTV/) | $21.9M | 357,100 | 0.5% | 7 |
| PUBLIC STORAGE | [PSA](https://holderbook.com/stocks/PSA/) | $13.3M | 41,859 | 0.3% | 30 |
| CUBESMART | [CUBE](https://holderbook.com/stocks/CUBE/) | $11.6M | 290,595 | 0.3% | 30 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $10.4M | 144,418 | 0.3% | 3 |
| FEDERAL RLTY INVT TR NEW | [FRT](https://holderbook.com/stocks/FRT/) | $9.4M | 76,064 | 0.2% | 16 |
| HOST HOTELS & RESORTS INC | [HST](https://holderbook.com/stocks/HST/) | $9.0M | 378,473 | 0.2% | 11 |
| BRIXMOR PPTY GROUP INC | [BRX](https://holderbook.com/stocks/BRX/) | $5.5M | 174,752 | 0.1% | 14 |
| KILROY REALTY CORP | [KRC](https://holderbook.com/stocks/KRC/) | $3.0M | 79,140 | 0.1% | 16 |
| ESSENTIAL PPTYS RLTY TR INC | [EPRT](https://holderbook.com/stocks/EPRT/) | $328.0K | 11,005 | 0.0% | 6 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.7% | +14.8% | -5.1% | 101% |
| Q1 2026 | -1.2% | -4.6% | +3.4% | 100% |
| Q4 2025 | +2.1% | +2.4% | -0.3% | 100% |
| Q3 2025 | +5.4% | +7.8% | -2.4% | 100% |
| Q2 2025 | +3.6% | +10.5% | -6.9% | 100% |
| Q1 2025 | -2.3% | -4.6% | +2.2% | 100% |
| Q4 2024 | -3.5% | +2.1% | -5.6% | 100% |
| Q3 2024 | +10.5% | +5.4% | +5.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $4.1B | 59 |
| Q1 2026 | $5.7B | 67 |
| Q4 2025 | $6.3B | 66 |
| Q3 2025 | $6.2B | 66 |
| Q2 2025 | $5.8B | 68 |
| Q1 2025 | $7.4B | 347 |
| Q4 2024 | $7.5B | 345 |
| Q3 2024 | $7.8B | 348 |
| Q2 2024 | $7.0B | 344 |
| Q1 2024 | $6.9B | 365 |
| Q4 2023 | $6.6B | 351 |
| Q3 2023 | $5.8B | 346 |