APG ASSET MANAGEMENT US INC
Q1 2026 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
$13.0B Reported Value Total

APG ASSET MANAGEMENT US, INC reports 44 total accounts under management (AUM). There are 15 discretionary accounts valued at $53,964,805,343, and 29 non-discretionary accounts valued at $87,361,504,518.

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
$13.0B
Quarter over quarter
+3.1%
Holdings
59
Top-10 concentration
71.6%

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 2025
Q2 2026
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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 2026 13F filing summary

Period of report March 31, 2026
Filed May 13, 2026
Form 13F-HR
Reported value $13.0B
Positions 59
Change in reported value +1.7%
New positions 16
Exited positions 14
Position turnover 41.1%
Top-10 concentration 71.6%

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 2026

# Holding Reported value % of portfolio
1 PLD PROLOGIS INC. $2.6B 19.81%
2 DLR DIGITAL RLTY TR INC $1.6B 11.98%
3 EQIX EQUINIX INC $1.2B 9.16%
4 VTR VENTAS INC $927.9M 7.15%
5 EQR EQUITY RESIDENTIAL $646.5M 4.98%
6 PSA PUBLIC STORAGE OPER CO $578.7M 4.46%
7 O REALTY INCOME CORP $553.1M 4.26%
8 HYG ISHARES TR $491.9M 3.79%
9 INVH INVITATION HOMES INC $397.0M 3.06%
10 MAA MID-AMER APT CMNTYS INC $378.6M 2.92%
11 BXP BXP INC $368.0M 2.84%
12 EXR EXTRA SPACE STORAGE INC $362.4M 2.79%
13 WELL WELLTOWER INC $336.5M 2.59%
14 KIM KIMCO REALTY CORP $332.2M 2.56%
15 ARE ALEXANDRIA REAL ESTATE EQ IN $302.2M 2.33%
16 REG REGENCY CTRS CORP $198.2M 1.53%
17 HR HEALTHCARE RLTY TR $175.4M 1.35%
18 SPG SIMON PPTY GROUP INC NEW $165.6M 1.28%
19 CUZ COUSINS PPTYS INC $162.9M 1.25%
20 COLD AMERICOLD REALTY TRUST INC $144.0M 1.11%

Values as reported on the Q1 2026 Form 13F. Every position is in the holdings table below.

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