PGGM Investments
Long book
$5.70B
Q1 2026
Positions
67
Top-10 weight
35%
concentration
Last quarter
+12.2%
SPY +14.8%
Turnover
10%
of book per quarter
Strategy in plain words
auto-generated from filingsPGGM Investments is an institutional manager, running a $5.70B US long book across 67 positions.
The portfolio is moderately concentrated (top 10 ≈ 35% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: WELLTOWER INC, PROLOGIS INC, EQUINIX INC, ALBEMARLE CORP, EXTRA SPACE STORAGE INC.
Over the last 9 quarters its long book ran on average 1pp 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
-0.1%
Q2 2024
+11.1%
Q3 2024
-2.9%
Q4 2024
-1.7%
Q1 2025
+4.2%
Q2 2025
+6.1%
Q3 2025
+2.7%
Q4 2025
-0.6%
Q1 2026
+12.2%
Sector allocation
Technology 36%
Healthcare 25%
Materials 12%
Other 8%
Utilities 7%
Consumer staples 6%
Services media 4%
Consumer discretionary 1%
Long book by quarter
What does PGGM Investments own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ALB ALBEMARLE CORP | Materials | 909.2K | $163.2M | 2.9% | -23.3% |
| GOOGL ALPHABET INC-CL A | Technology | 544.0K | $156.4M | 2.7% | Held |
| MSFT MICROSOFT CORP | Technology | 421.0K | $155.8M | 2.7% | +3.0% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 309.2K | $152.0M | 2.7% | -10.7% |
| LIN LINDE PLC | Materials | 304.1K | $150.8M | 2.6% | Held |
| RUN SUNRUN INC | Technology | 9.5M | $129.5M | 2.3% | +24.5% |
| NVDA NVIDIA CORP | Technology | 726.2K | $126.7M | 2.2% | Held |
| ILMN ILLUMINA INC | Healthcare | 990.5K | $122.1M | 2.1% | -13.8% |
| LLY ELI LILLY & CO | Healthcare | 131.8K | $121.2M | 2.1% | +3.8% |
| NEE NEXTERA ENERGY INC | Utilities | 1.2M | $109.6M | 1.9% | -18.8% |
| AZN ASTRAZENECA PLC | Healthcare | 645.5K | $94.8M | 1.7% | New |
| AAPL APPLE INC | Technology | 357.9K | $90.8M | 1.6% | Held |
| ABT ABBOTT LABORATORIES | Healthcare | 810.1K | $83.2M | 1.5% | Held |
| MDT MEDTRONIC PLC | Healthcare | 910.3K | $78.9M | 1.4% | -10.0% |
| WCN WASTE CONNECTIONS INC | Utilities | 454.3K | $73.8M | 1.3% | +7.2% |
| AVGO BROADCOM INC | Technology | 235.7K | $73.0M | 1.3% | Held |
| REGN REGENERON PHARMACEUTICALS | Healthcare | 92.6K | $71.5M | 1.3% | Held |
| IQV IQVIA HOLDINGS INC | Healthcare | 374.8K | $63.9M | 1.1% | +53.9% |
| VLTO VERALTO CORP | Technology | 701.9K | $62.1M | 1.1% | New |
| V VISA INC-CLASS A SHARES | Services media | 201.2K | $60.8M | 1.1% | Held |
| ADM ARCHER-DANIELS-MIDLAND CO | Consumer staples | 830.2K | $60.4M | 1.1% | Held |
| SNPS SYNOPSYS INC | Technology | 140.7K | $55.8M | 1.0% | Held |
| CTVA CORTEVA INC | Consumer staples | 641.0K | $53.7M | 0.9% | Held |
| PG PROCTER & GAMBLE CO/THE | Other | 336.4K | $48.6M | 0.9% | Held |
| CDNS CADENCE DESIGN SYS INC | Technology | 158.3K | $44.0M | 0.8% | Held |
| ROP ROPER TECHNOLOGIES INC | Technology | 120.5K | $42.6M | 0.7% | Held |
| TTEK TETRA TECH INC | Services media | 1.3M | $37.8M | 0.7% | -9.2% |
| MKC MCCORMICK & CO-NON VTG SHRS | Consumer staples | 746.6K | $37.7M | 0.7% | Held |
| SEDG SOLAREDGE TECHNOLOGIES INC | Technology | 653.8K | $33.4M | 0.6% | -1.0% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 62.3K | $28.7M | 0.5% | Held |
| WMS ADVANCED DRAINAGE SYSTEMS IN | Other | 190.3K | $26.1M | 0.5% | -44.0% |
| CNM CORE & MAIN INC-CLASS A | Consumer discretionary | 467.4K | $23.1M | 0.4% | Held |
| APTV APTIV PLC | Industrials | 223.4K | $15.5M | 0.3% | Held |
| AGRO ADECOAGRO SA | Consumer staples | 1.0M | $15.5M | 0.3% | -74.5% |
| UBER UBER TECHNOLOGIES INC | Services media | 144.4K | $10.4M | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 67 | $5.70B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 9, 2026 | 66 | $6.32B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 28, 2025 | 66 | $6.18B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 18, 2025 | 68 | $5.77B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 347 | $7.42B | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 345 | $7.52B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 348 | $7.81B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 16, 2024 | 344 | $6.99B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 24, 2024 | 365 | $6.90B | $K fixed canonical | SEC ↗ |
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