AA
APG Asset Management US Inc. — 13F Portfolio Changes & Top Buys (Q2 2026)
APG Asset Management US Inc.CIK: 0001323255
Diversified strategySector-focusedMomentum follower
Total reported value
$14.3B
Reporting period: 2026-06-30 · Number of holdings: 61
APG Asset Management US Inc. disclosed 61 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $14.3B and a quarterly turnover rate of 10.1%.
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Personality snowflake
- Concentration
- 29.39
- Portfolio Stability
- 10.12
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 81.18
APG Asset Management US Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.073 — mathematically equivalent to about 14 equally-sized positions, well below its 61 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.88), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim DLR
0.0% -$35.6M
Trim PLD
0.0% $66.9M
Trim EQIX
0.0% $21.1M
Add BXP
+0.2% $121.9M
Trim O
-0.2% -$1.5M
Add INVH
0.0% $87.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PLD | Prologis Inc | Stock-Real Estate | 18.49% | -1.32% | — | |
| 2 | DLR | Digital Realty Trust Inc | Stock-Real Estate | 10.65% | -1.33% | — | |
| 3 | EQIX | Equinix Inc | Stock-Real Estate | 8.48% | -0.68% | — | |
| 4 | VTR | Ventas Inc | Stock-Real Estate | 7.11% | -0.04% | — | |
| 5 | EQR | Equity Residential | Stock-Real Estate | 5.22% | +0.24% | — | |
| 6 | PSA | Public Storage | Stock-Real Estate | 4.76% | +0.30% | +0.41% | |
| 7 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 4.00% | +0.21% | +15.63% | |
| 8 | O | Realty Income CORP | Stock-Real Estate | 3.86% | -0.40% | -0.18% | |
| 9 | BXP | Bxp Inc | Stock-Real Estate | 3.43% | +0.59% | +0.24% | |
| 10 | INVH | Invitation Homes Inc | Stock-Real Estate | 3.40% | +0.34% | — | |
| 11 | MAA | Mid-america Apartment Comm | Stock-Real Estate | 3.03% | +0.11% | — | |
| 12 | EXR | Extra Space Storage Inc | Stock-Real Estate | 2.84% | +0.05% | +0.46% | |
| 13 | WELL | Welltower Inc | Stock-Real Estate | 2.73% | +0.14% | — | |
| 14 | ARE | Alexandria Real Estate Equit | Stock-Real Estate | 2.59% | +0.26% | — | |
| 15 | KIM | Kimco Realty CORP | Stock-Real Estate | 2.59% | +0.03% | -0.27% | |
| 16 | CUZ | Cousins Properties Inc | Stock-Real Estate | 1.57% | +0.32% | +0.17% | |
| 17 | HR | Healthcare Realty Trust Inc | Stock-Real Estate | 1.45% | +0.10% | — | |
| 18 | REG | Regency Centers CORP | Stock-Real Estate | 1.44% | -0.09% | -0.40% | |
| 19 | COLD | Americold Realty Trust Inc | Stock-Real Estate | 1.44% | +0.33% | — | |
| 20 | SPG | Simon Property Group Inc | Stock-Real Estate | 1.40% | +0.12% | +1.40% | |
| 21 | KRC | Kilroy Realty CORP | Stock-Real Estate | 1.29% | +0.27% | +0.19% | |
| 22 | IRM | Iron Mountain Inc | Stock-Real Estate | 0.60% | +0.05% | — | |
| 23 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 0.60% | +0.01% | +12.56% | |
| 24 | VICI | Vici Properties Inc | Stock-Real Estate | 0.52% | -0.08% | -0.38% | |
| 25 | AVB | Avalonbay Communities Inc | Stock-Real Estate | 0.48% | +0.03% | — | |
| 26 | HST | Host Hotels & Resorts Inc | Stock-Real Estate | 0.40% | +0.04% | — | |
| 27 | ESS | Essex Property Trust Inc | Stock-Real Estate | 0.33% | +0.03% | — | |
| 28 | WPC | Wp Carey Inc | Stock-Real Estate | 0.29% | -0.02% | — | |
| 29 | SUI | Sun Communities Inc | Stock-Real Estate | 0.26% | -0.04% | — | |
| 30 | DOC | Healthpeak Properties Inc | Stock-Real Estate | 0.25% | +0.04% | — | |
| 31 | OHI | Omega Healthcare Investors | Stock-Real Estate | 0.25% | — | — | |
| 32 | UDR | Udr Inc | Stock-Real Estate | 0.24% | +0.02% | — | |
| 33 | FRT | Federal Realty Invs Trust | Stock-Real Estate | 0.23% | +0.01% | -1.26% | |
| 34 | GLPI | Gaming And Leisure Propertie | Stock-Real Estate | 0.22% | -0.03% | — | |
| 35 | ELS | Equity Lifestyle Properties | Stock-Real Estate | 0.22% | -0.01% | — | |
| 36 | CPT | Camden Property Trust | Stock-Real Estate | 0.21% | +0.01% | — | |
| 37 | BRX | Brixmor Property Group Inc | Stock-Real Estate | 0.21% | -0.01% | -1.22% | |
| 38 | AMH | American Homes 4 Rent- A | Stock-Real Estate | 0.19% | +0.01% | — | |
| 39 | RHP | Ryman Hospitality Properties | Stock-Real Estate | 0.19% | +0.04% | — | |
| 40 | EGP | Eastgroup Properties Inc | Stock-Real Estate | 0.18% | +0.18% | NEW | |
| 41 | VNO | Vornado Realty Trust | Stock-Real Estate | 0.18% | +0.06% | +4.01% | |
| 42 | AHR | American Healthcare Reit Inc | Stock-Real Estate | 0.17% | +0.02% | +7.79% | |
| 43 | NNN | Nnn Reit Inc | Stock-Real Estate | 0.16% | — | — | |
| 44 | ADC | Agree Realty CORP | Stock-Real Estate | 0.16% | -0.02% | — | |
| 45 | CUBE | Cubesmart | Stock-Real Estate | 0.16% | +0.01% | +3.24% | |
| 46 | CTRE | Caretrust Reit Inc | Stock-Real Estate | 0.16% | — | — | |
| 47 | KRG | Kite Realty Group Trust | Stock-Real Estate | 0.14% | +0.01% | — | |
| 48 | FR | First Industrial Realty Tr | Stock-Real Estate | 0.13% | -0.01% | — | |
| 49 | REXR | Rexford Industrial Realty In | Stock-Real Estate | 0.13% | -0.01% | — | |
| 50 | STAG | Stag Industrial Inc | Stock-Real Estate | 0.12% | -0.01% | — |
1–50 of 61
Portfolio Performance
Performance for Q3 2026
+1.7%
Performance Last 4 Quarters
+12.8%
- Stdev
- +16.1%
- Beta
- +0.91
- Alpha
- -9.4%
- Max Drawdown
- -10.4%
- Annualized Perf
- +7.7%
- Batting Avg vs S&P
- +38.9%
- Sortino
- +0.88
- Stutzer
- +0.16
- Treynor
- +0.1
- Sterling
- +0.42
- Calmar
- +0.74
- Information Ratio
- -1.01
- Tracking Error
- +11.1%
- Stdev Down
- +9.9%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +31.3%
- Worst 12 Months
- -6.7%
- Efficiency Ratio
- +0.19
- Sharpe
- +0.54
- Stdev Sectors
- 0%
- Skewness
- +0.08
- Kurtosis
- -0.13
- Upside Potential
- +2.67
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 61 | $14.3B | 10 | ||
| 2026 Q1 | 59 | $13.0B | 19 | ||
| 2025 Q4 | 57 | $12.8B | 13 | ||
| 2025 Q3 | 184 | $13.6B | 14 | ||
| 2025 Q2 | 189 | $13.4B | 0 | ||
| 2025 Q1 | 203 | $13.1B | 100 | ||
| 2024 Q4 | 205 | $13.2B | 0 | ||
| 2024 Q3 | 156 | $14.8B | 0 | ||
| 2024 Q2 | 168 | $17.5B | 0 | ||
| 2024 Q1 | 171 | $17.3B | 0 | ||
| 2023 Q4 | 187 | $16.3B | 0 | ||
| 2023 Q3 | 39 | $11.4B | 0 | ||
| 2023 Q2 | 39 | $12.5B | 0 | ||
| 2023 Q1 | 39 | $12.2B | 0 | ||
| 2022 Q4 | 38 | $12.4B | 0 | ||
| 2022 Q3 | 40 | $12.2B | 0 | ||
| 2022 Q2 | 44 | $14.6B | 0 | ||
| 2022 Q1 | 43 | $18.0B | 0 | ||
| 2021 Q4 | 43 | $18.7B | 0 | ||
| 2021 Q3 | 43 | $16.3B | 0 | ||
| 2021 Q2 | 42 | $16.2B | 100 | ||
| 2021 Q1 | 41 | $14.5B | 10 | ||
| 2020 Q4 | 41 | $13.6B | 18 | ||
| 2020 Q3 | 43 | $12.4B | 15 | ||
| 2020 Q2 | 40 | $12.0B | 21 | ||
| 2020 Q1 | 40 | $10.9B | 34 | ||
| 2019 Q4 | 41 | $14.3B | 15 | ||
| 2019 Q3 | 39 | $14.4B | 13 | ||
| 2019 Q2 | 41 | $13.6B | 10 | ||
| 2019 Q1 | 41 | $13.7B | 22 | ||
| 2018 Q4 | 44 | $11.9B | 13 | ||
| 2018 Q3 | 44 | $12.8B | 7 | ||
| 2018 Q2 | 46 | $12.9B | 17 | ||
| 2018 Q1 | 50 | $11.7B | 9 | ||
| 2017 Q4 | 50 | $12.2B | 10 | ||
| 2017 Q3 | 48 | $12.0B | 10 | ||
| 2017 Q2 | 50 | $11.9B | 15 | ||
| 2017 Q1 | 54 | $11.9B | 12 | ||
| 2016 Q4 | 54 | $12.0B | 22 | ||
| 2016 Q3 | 49 | $12.5B | 8 | ||
| 2016 Q2 | 48 | $12.8B | 11 | ||
| 2016 Q1 | 46 | $12.4B | 10 | ||
| 2015 Q4 | 48 | $12.0B | 31 | ||
| 2015 Q3 | 78 | $11.3B | 16 | ||
| 2015 Q2 | 78 | $10.8B | 18 | ||
| 2015 Q1 | 74 | $12.1B | 16 | ||
| 2014 Q4 | 77 | $11.6B | 20 | ||
| 2014 Q3 | 82 | $10.2B | 10 | ||
| 2014 Q2 | 83 | $10.5B | 12 | ||
| 2014 Q1 | 90 | $9.9B | 16 | ||
| 2013 Q4 | 81 | $8.9B | 14 | ||
| 2013 Q3 | 78 | $9.0B | 10 | ||
| 2013 Q2 | 73 | $9.6B | — |
Holding changes this quarter
APG Asset Management US Inc.'s most significant position changes for 2026-06-30: New buy: Eastgroup Properties Inc (EGP); New buy: Epr Properties (EPR); Add: Bxp Inc (BXP) — shares +0.24%; Trim: Realty Income CORP (O) — shares -0.18%; Add: Cousins Properties Inc (CUZ) — shares +0.17%.
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Filing History
FAQ
What is APG Asset Management US Inc. and what type of investor is it?
APG Asset Management US Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $14.3B, spread across 61 disclosed positions.
What are APG Asset Management US Inc.'s largest equity positions?
Based on the latest 13F filing, APG Asset Management US Inc.'s top holdings by market value are:
1. Prologis Inc (PLD) — $2.6B (18.5%)
2. Digital Realty Trust Inc (DLR) — $1.5B (10.7%)
3. Equinix Inc (EQIX) — $1.2B (8.5%)
4. Ventas Inc (VTR) — $1.0B (7.1%)
5. Equity Residential (EQR) — $745.1M (5.2%)
What changes did APG Asset Management US Inc. make in its most recent portfolio filing?
In the latest reported quarter, APG Asset Management US Inc. made 22 notable position adjustments: 2 new positions were initiated, 14 existing holdings were added to, 6 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Eastgroup Properties Inc (EGP); New buy: Epr Properties (EPR); Add: Bxp Inc (BXP) — shares +0.24%; Trim: Realty Income CORP (O) — shares -0.18%; Add: Cousins Properties Inc (CUZ) — shares +0.17%
What sectors does APG Asset Management US Inc. focus on?
APG Asset Management US Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Real Estate: 100.0%
Investment Profile
APG Asset Management US Inc. returned an annualized 7.7% over the trailing 36 months — underperforming the S&P 500 by 9.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.91 (roughly in line with the market) and a 39% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 100.0% of the portfolio concentrated in Real Estate.
It has added to its EQIX position over the past two quarters (+$288.6M, now $1.2B), while trimming VICI over the same stretch (-$17.1M, still holding $74.8M).
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