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APG Asset Management US Inc.

Q4 2025 · Filed 2026-02-12
Market Value
$12.8B
-5.8%
Holdings
185
-6
New Purchases
3
Added To
12
Closed
129
Reduced
14
Top 10 Concentration
69.6%
Turnover
71.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PLD 19.68% 16.91% +2.76% $2.5B
VTR 7.13% 6.11% +1.03% $910M
HYG 3.56% 2.77% +0.79% $454M
EQIX 7.23% 6.93% +0.30% $922M
WELL 2.41% 2.11% +0.30% $308M
EQR 5.61% 5.37% +0.24% $715M
LQD 3.06% 2.84% +0.23% $391M
SPG 0.95% 0.74% +0.21% $121M
MAA 3.24% 3.08% +0.16% $413M
O 3.91% 3.77% +0.14% $499M
COLD 1.22% 1.10% +0.12% $156M
OHI 0.12% 0.00% +0.12% $15M
SMA 0.07% 0.00% +0.07% $9M
SLG 0.06% 0.00% +0.06% $7M
CURB 0.14% 0.09% +0.05% $18M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ARE 2.57% 4.13% -1.56% $328M
DLR 10.45% 10.94% -0.49% $1.3B
EGP 0.00% 0.38% -0.38% $0
NVDA 0.00% 0.31% -0.31% $0
AVGO 0.00% 0.30% -0.30% $0
BXP 3.92% 4.17% -0.26% $499M
MSFT 0.00% 0.23% -0.23% $0
PSA 4.49% 4.69% -0.20% $573M
CUZ 1.49% 1.65% -0.15% $191M
BKLN 0.08% 0.23% -0.15% $10M
VICI 0.72% 0.84% -0.12% $92M
ORCL 0.00% 0.11% -0.11% $0
MAC 0.08% 0.18% -0.10% $10M
LLY 0.00% 0.09% -0.09% $0
ANET 0.00% 0.08% -0.08% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 18 $0 0.0%
Large Cap 132 $10.8B 84.6%
Mid Cap 27 $1.9B 14.9%
Small Cap 8 $67M 0.5%

Portfolio Analytics

Avg Market Cap
$137.0B
Median Market Cap
$28.8B
Avg P/E
44.0
Median P/E
31.2
Avg Dividend Yield
0.02%
Avg Beta
1.04
# Stocks
182
# ETFs / Funds
3

Top Holdings (185 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 PLD 19.68% 19,656,247 $2.5B $127.66 $220M
2 DLR 10.45% 8,617,744 $1.3B $154.71 -$148M -21,057 -0.2%
3 EQIX 7.23% 1,203,383 $922M $766.16 -$16M -7,974 -0.7%
4 VTR 7.13% 11,758,485 $910M $77.38 $83M
5 EQR 5.61% 11,346,098 $715M $63.04 -$12M
6 PSA 4.49% 2,207,675 $573M $259.50 -$62M +22,696 +1.0%
7 BXP 3.92% 7,401,513 $499M $67.48 -$65M
8 O 3.91% 8,849,060 $499M $56.37 -$12M +403,593 +4.8%
9 INVH 3.62% 16,591,683 $461M $27.79 -$35M -492,025 -2.9%
10 HYG 3.56% 5,632,436 $454M $80.63 $79M +997,936 +21.5%
11 MAA 3.24% 2,975,511 $413M $138.91 -$3M -42,503 -1.4%
12 LQD 3.06% 3,546,714 $391M $110.19 $7M +104,901 +3.0%
13 EXR 2.64% 2,586,331 $337M $130.22 -$21M +52,770 +2.1%
14 ARE 2.57% 6,693,105 $328M $48.94 -$231M
15 WELL 2.41% 1,657,317 $308M $185.61 $22M +64,553 +4.0%
16 KIM 2.01% 12,648,074 $256M $20.27 -$16M
17 HR 1.65% 12,391,772 $210M $16.95 -$12M +305,099 +2.5%
18 CUZ 1.49% 7,395,125 $191M $25.78 -$32M -273,401 -3.6%
19 KRC 1.26% 4,287,628 $160M $37.37 -$20M
20 COLD 1.22% 12,139,704 $156M $12.86 $7M
21 REG 1.10% 2,023,988 $140M $69.03 -$6M
22 SPG 0.95% 655,596 $121M $185.11 $21M +115,211 +21.3%
23 VICI 0.72% 3,269,161 $92M $28.12 -$22M -181,651 -5.3%
24 UDR 0.47% 1,645,459 $60M $36.68 -$395K
25 SBRA 0.44% 2,992,091 $57M $18.94 $2M
26 WPC 0.44% 875,667 $56M $64.36 -$6M -40,939 -4.5%
27 ESS 0.44% 212,048 $55M $261.68 -$1M
28 IRM 0.38% 582,174 $48M $82.95 -$11M
29 BRX 0.33% 1,614,051 $42M $26.22 $4M +208,288 +14.8%
30 SUI 0.30% 304,084 $38M $123.91 -$6M -33,054 -9.8%
31 VNO 0.26% 983,787 $33M $33.28 -$1M +159,733 +19.4%
32 DOC 0.25% 1,980,187 $32M $16.08 -$12M -293,164 -12.9%
33 FRT 0.25% 314,532 $32M $100.80 $365K
34 SKT 0.23% 887,091 $30M $33.37 -$373K
35 EPRT 0.20% 881,079 $26M $29.66 -$238K
36 ADC 0.17% 302,697 $22M $72.03 -$9M -132,646 -30.5%
37 RHP 0.17% 226,742 $21M $94.62 $1M
38 CURB 0.14% 789,832 $18M $23.21 $6M +240,429 +43.8%
39 UE 0.13% 892,720 $17M $19.19 -$1M
40 NTST 0.13% 956,127 $17M $17.64 -$612K
41 OHI 0.12% 344,468 $15M $44.34 +344,468 NEW
42 EPR 0.11% 287,278 $14M $49.90 -$2M
43 AKR 0.11% 694,831 $14M $20.54 -$3M -143,811 -17.1%
44 AHR 0.11% 292,952 $14M $47.06 $1M
45 AVB 0.11% 75,573 $14M $181.31 -$7M -30,276 -28.6%
46 REXR 0.11% 350,557 $14M $38.72 -$1M
47 UMH 0.08% 679,926 $11M $15.91 $4M +196,810 +40.7%
48 VRE 0.08% 696,155 $10M $14.88 -$104K
49 MAC 0.08% 556,272 $10M $18.46 -$14M -794,863 -58.8%
50 BKLN 0.08% 480,000 $10M $21.00 -$21M -1,000,000 -67.6%
51 SMA 0.07% 293,366 $9M $30.94 +293,366 NEW
52 CTO 0.07% 460,001 $8M $18.41 $1M
53 FR 0.06% 132,600 $8M $57.27 $690K
54 SLG 0.06% 156,256 $7M $45.87 +156,256 NEW
55 PEB 0.04% 494,211 $6M $11.32 $49K
56 XHR 0.04% 388,747 $5M $14.14 $222K
57 ABBV —% -$9M -37,008 -100.0% SOLD
58 IQV —% -$768K -3,767 -100.0% SOLD
59 NSA —% -$10M -344,780 -100.0% SOLD
60 ZBH —% -$416K -4,209 -100.0% SOLD
61 ANET —% -$11M -76,981 -100.0% SOLD
62 CRM —% -$11M -44,606 -100.0% SOLD
63 JBL —% -$804K -3,740 -100.0% SOLD
64 CAH —% -$790K -5,000 -100.0% SOLD
65 MRK —% -$5M -52,382 -100.0% SOLD
66 UNH —% -$7M -19,083 -100.0% SOLD
67 APH —% -$10M -82,660 -100.0% SOLD
68 ALC —% -$770K -10,326 -100.0% SOLD
69 MDT —% -$3M -26,664 -100.0% SOLD
70 HUBS —% -$676K -1,536 -100.0% SOLD
71 TYL —% -$672K -1,343 -100.0% SOLD
72 HUM —% -$614K -2,488 -100.0% SOLD
73 SOLV —% -$222K -3,034 -100.0% SOLD
74 IOT —% -$262K -6,877 -100.0% SOLD
75 NOW —% -$6M -6,386 -100.0% SOLD
76 WST —% -$407K -1,499 -100.0% SOLD
77 DT —% -$955K -19,775 -100.0% SOLD
78 LLY —% -$12M -15,015 -100.0% SOLD
79 HCA —% -$2M -3,839 -100.0% SOLD
80 IT —% -$609K -2,426 -100.0% SOLD
81 WAT —% -$392K -1,227 -100.0% SOLD
82 PFE —% -$3M -119,114 -100.0% SOLD
83 SNOW —% -$2M -9,102 -100.0% SOLD
84 A —% -$823K -5,938 -100.0% SOLD
85 RMD —% -$821K -3,033 -100.0% SOLD
86 MOH —% -$233K -1,211 -100.0% SOLD
87 SYK —% -$3M -7,206 -100.0% SOLD
88 BMY —% -$2M -41,897 -100.0% SOLD
89 MTD —% -$569K -441 -100.0% SOLD
90 MCK —% -$2M -2,605 -100.0% SOLD
91 TEL —% -$2M -9,414 -100.0% SOLD
92 BMRN —% -$216K -3,934 -100.0% SOLD
93 GDDY —% -$587K -4,438 -100.0% SOLD
94 TEVA —% -$470K -23,412 -100.0% SOLD
95 BSX —% -$3M -30,996 -100.0% SOLD
96 DHR —% -$3M -13,432 -100.0% SOLD
97 CNC —% -$389K -10,871 -100.0% SOLD
98 GLW —% -$2M -25,590 -100.0% SOLD
99 FICO —% -$1M -752 -100.0% SOLD
100 ACN —% -$4M -17,709 -100.0% SOLD

New Positions

SymbolValue% Port
OHI $15M 0.12%
SMA $9M 0.07%
SLG $7M 0.06%

Sold Out Positions

SymbolValue% Port
BDX —%
ACN —%
GLW —%
CVS —%
HPE —%
NOW —%
BMY —%
EGP —%
ZTS —%
VEEV —%
IQV —%
TEVA —%
ZBH —%
HUBS —%
ANET —%
View SEC EDGAR Filings for APG Asset Management US Inc. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms