APG ASSET MANAGEMENT US INC
Q1 2024 Form 13-F

NEW YORK, NEW YORK
CIK 0001323255 · CRD 160795 · SEC-registered investment adviser
Holdings reported by APG Asset Management N V since Q4 2025
Consolidated report · includes 3 managers since Q2 2013
$17.3B Reported Value Total

APG ASSET MANAGEMENT US, INC reports 37 total accounts under management (AUM). There are 11 discretionary accounts valued at $82,646,046,883, and 26 non-discretionary accounts valued at $81,470,791,502.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary & Non-Discretionary
Private funds (Form ADV)
37 funds · $23.1B gross asset value
Real Estate Fund: $13.1B · Other: $8.8B · Hedge Fund: $1.1B · Private Equity Fund: $219.2M
Source: Form ADV filed 2026-03-25
Reported value
$17.3B
Quarter over quarter
+0.0%
Holdings
171
Top-10 concentration
54.7%

Filing Structure

Reports holdings for

Holdings reported by

Key People

Form ADV owners & control persons
Jeroen Frens
CHIEF FINANCIAL AND RISK OFFICER
Evan Andrew Gordon
CHIEF COMPLIANCE OFFICER
Allen Kelly Parker
GENERAL COUNSEL
Q4 2023
Q2 2024
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Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q1 2024 13F filing summary

Period of report March 31, 2024
Filed May 14, 2024
Form 13F-HR
Reported value $17.3B
Positions 171
Change in reported value +5.9%
New positions 9
Exited positions 25
Position turnover 17.4%
Top-10 concentration 54.7%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 12, 2026
 61 $14.3B
Q1 2026 13F
Filed May 13, 2026
 59 $13.0B
Q4 2025 13F
Filed Feb 12, 2026
 57 $12.8B
Q3 2025 13F
Filed Nov 12, 2025
 184 $13.6B
Q2 2025 13F
Filed Aug 12, 2025
 189 $13.4B
Q1 2025 13F
Filed May 14, 2025
 203 $13.1B
Q4 2024 13F
Filed Feb 13, 2025
 205 $13.2B
Q3 2024 13F
Filed Nov 14, 2024
 156 $14.8B
Q2 2024 13F
Filed Aug 14, 2024
 168 $17.5B
Q1 2024 13F
Filed May 14, 2024
 171 $17.3B
Q4 2023 13F
Filed Feb 13, 2024
 187 $16.3B
Q3 2023 13F
Filed Nov 14, 2023
 39 $11.4B
Q2 2023 13F
Filed Aug 14, 2023
 39 $12.5B
Q1 2023 13F
Filed May 12, 2023
 39 $12.2B
Q4 2022 13F
Filed Feb 14, 2023
 38 $12.4B
Q3 2022 13F
Filed Nov 14, 2022
 40 $12.2B
Q2 2022 13F
Filed Aug 12, 2022
 44 $14.6B
Q1 2022 13F
Filed May 12, 2022
 43 $18.0B
Q4 2021 13F
Filed Feb 11, 2022
 43 $18.7B
Q3 2021 13F
Filed Nov 15, 2021
 43 $16.3B

33 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q1 2024

# Holding Reported value % of portfolio
1 PLD PROLOGIS INC. $2.5B 14.61%
2 DLR DIGITAL RLTY TR INC $1.3B 7.54%
3 EQIX EQUINIX INC $1.1B 6.57%
4 ARE ALEXANDRIA REAL ESTATE EQ IN $910.7M 5.27%
5 VTR VENTAS INC $721.2M 4.18%
6 EQR EQUITY RESIDENTIAL $712.7M 4.13%
7 PSA PUBLIC STORAGE $602.3M 3.49%
8 INVH INVITATION HOMES INC $585.9M 3.39%
9 NVDA NVIDIA CORPORATION $491.8M 2.85%
10 BXP BOSTON PROPERTIES INC $471.1M 2.73%
11 O REALTY INCOME CORP $449.9M 2.6%
12 COLD AMERICOLD REALTY TRUST INC $410.6M 2.38%
13 EXR EXTRA SPACE STORAGE INC $387.0M 2.24%
14 MAA MID-AMER APT CMNTYS INC $369.3M 2.14%
15 HYG ISHARES TR $334.7M 1.94%
16 KIM KIMCO RLTY CORP $280.9M 1.63%
17 MSFT MICROSOFT CORP $224.2M 1.3%
18 AVGO BROADCOM INC $210.6M 1.22%
19 KRC KILROY RLTY CORP $189.2M 1.1%
20 CUZ COUSINS PPTYS INC $184.4M 1.07%

Values as reported on the Q1 2024 Form 13F. Every position is in the holdings table below.

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