APG Asset Management N.V.
Long book
$31.56B
Q1 2026
Positions
513
Top-10 weight
36%
concentration
Last quarter
+14.8%
SPY +14.8%
Turnover
6%
of book per quarter
Strategy in plain words
auto-generated from filingsAPG Asset Management N.V. is an institutional manager, running a $31.56B US long book across 513 positions.
The portfolio is moderately concentrated (top 10 ≈ 36% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: MICROSOFT CORP, NVIDIA CORP, BROADCOM INC, AMAZON.COM INC, APPLE INC.
Over the last 9 quarters its long book ran on average 1.3pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.1%
Q2 2024
+7.1%
Q3 2024
-2.5%
Q4 2024
-4.0%
Q1 2025
+10.8%
Q2 2025
+6.0%
Q3 2025
+1.4%
Q4 2025
-7.0%
Q1 2026
+14.8%
Sector allocation
Technology 34%
Financials 15%
Consumer discretionary 14%
Healthcare 11%
Services media 8%
Industrials 6%
Other 4%
Utilities 3%
Long book by quarter
What does APG Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MSFT MICROSOFT CORP | Technology | 5.7M | $1.82B | 5.8% | -15.4% |
| NVDA NVIDIA CORP | Technology | 11.8M | $1.79B | 5.7% | -37.5% |
| AVGO BROADCOM INC | Technology | 5.4M | $1.46B | 4.6% | +4.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 7.5M | $1.36B | 4.3% | +2.3% |
| AAPL APPLE INC | Technology | 5.9M | $1.30B | 4.1% | -41.1% |
| LLY ELI LILLY & CO | Healthcare | 1.2M | $927.4M | 2.9% | +32.7% |
| JPM JPMORGAN CHASE & CO | Financials | 3.4M | $858.4M | 2.7% | +16.5% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 759.9K | $657.2M | 2.1% | +13.1% |
| MA MASTERCARD INC - A | Services media | 1.4M | $614.1M | 1.9% | +7.5% |
| TJX TJX COMPANIES INC | Consumer discretionary | 3.0M | $417.4M | 1.3% | +12.6% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 932.1K | $397.7M | 1.3% | +2.8% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 863.8K | $359.2M | 1.1% | +17.3% |
| CDNS CADENCE DESIGN SYS INC | Technology | 1.4M | $343.0M | 1.1% | +2.1% |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 1.6M | $327.9M | 1.0% | -11.6% |
| V VISA INC-CLASS A SHARES | Services media | 1.2M | $320.8M | 1.0% | +14.7% |
| WMT WALMART INC | Consumer discretionary | 2.8M | $304.8M | 1.0% | +21.0% |
| SYK STRYKER CORP | Healthcare | 1.1M | $303.6M | 1.0% | +14.4% |
| PGR PROGRESSIVE CORP | Financials | 1.7M | $289.5M | 0.9% | +3.1% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 708.8K | $283.6M | 0.9% | +3.2% |
| TYL TYLER TECHNOLOGIES INC | Technology | 940.0K | $279.3M | 0.9% | +42.3% |
| WST WEST PHARMACEUTICAL SERVICES | Healthcare | 1.3M | $275.7M | 0.9% | +5.7% |
| FITB FIFTH THIRD BANCORP | Financials | 6.7M | $272.1M | 0.9% | +2.2% |
| ANET ARISTA NETWORKS INC | Technology | 2.5M | $269.9M | 0.9% | -0.8% |
| MCO MOODY'S CORP | Services media | 684.1K | $259.0M | 0.8% | +20.2% |
| ABBV ABBVIE INC | Healthcare | 1.2M | $235.8M | 0.7% | +10.4% |
| NFLX NETFLIX INC | Services media | 2.8M | $231.2M | 0.7% | +9.4% |
| AJG ARTHUR J GALLAGHER & CO | Financials | 1.2M | $221.3M | 0.7% | -0.5% |
| MU MICRON TECHNOLOGY INC | Technology | 751.1K | $220.2M | 0.7% | +15.1% |
| CBRE CBRE GROUP INC - A | Real estate | 1.8M | $217.1M | 0.7% | +15.8% |
| JKHY JACK HENRY & ASSOCIATES INC | Technology | 1.6M | $214.4M | 0.7% | 0.0% |
| MSA MSA SAFETY INC | Healthcare | 1.5M | $213.1M | 0.7% | Held |
| PG PROCTER & GAMBLE CO/THE | Other | 1.7M | $210.5M | 0.7% | +7.6% |
| IR INGERSOLL-RAND INC | Industrials | 3.0M | $210.4M | 0.7% | -0.1% |
| HD HOME DEPOT INC | Consumer discretionary | 727.3K | $207.6M | 0.7% | +9.7% |
| LPLA LPL FINANCIAL HOLDINGS INC | Financials | 772.7K | $201.7M | 0.6% | +3.9% |
| ROL ROLLINS INC | Services media | 4.3M | $197.5M | 0.6% | -19.0% |
| TSCO TRACTOR SUPPLY COMPANY | Consumer discretionary | 4.8M | $187.8M | 0.6% | +15.1% |
| BAC BANK OF AMERICA CORP | Financials | 4.3M | $183.8M | 0.6% | +5.2% |
| GE GENERAL ELECTRIC | Industrials | 741.4K | $182.6M | 0.6% | +6.2% |
| CSCO CISCO SYSTEMS INC | Technology | 2.7M | $181.4M | 0.6% | +19.5% |
| MRK MERCK & CO. INC. | Healthcare | 1.7M | $178.3M | 0.6% | +3.3% |
| AMD ADVANCED MICRO DEVICES | Technology | 947.5K | $167.3M | 0.5% | +2.6% |
| KO COCA-COLA CO/THE | Consumer staples | 2.5M | $163.2M | 0.5% | +7.7% |
| LIN LINDE PLC | Materials | 363.1K | $156.2M | 0.5% | +0.6% |
| LRCX LAM RESEARCH CORP | Industrials | 832.6K | $154.4M | 0.5% | +12.9% |
| AMAT APPLIED MATERIALS INC | Technology | 514.5K | $152.6M | 0.5% | +14.8% |
| ORCL ORACLE CORP | Technology | 1.0M | $133.7M | 0.4% | -1.7% |
| UNH UNITEDHEALTH GROUP INC | Financials | 568.8K | $133.6M | 0.4% | +2.3% |
| PEP PEPSICO INC | Consumer staples | 982.4K | $132.4M | 0.4% | +2.7% |
| GS GOLDMAN SACHS GROUP INC | Financials | 179.1K | $131.5M | 0.4% | +3.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 513 | $31.56B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 540 | $35.23B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 528 | $35.63B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 539 | $33.77B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 548 | $32.24B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 548 | $35.90B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 407 | $15.07B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 650 | $56.05B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 716 | $57.08B | canonical | SEC ↗ |
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