§ 13F · FUND PROFILE
APG Asset Management N.V..
APG, Dutch pension asset manager
AUM · $33771.1T (13F)Positions · 539Turnover · 99% · Q4Filed · Feb 12, 2026
CONCENTRATION
40%
Top 10 holdings
NEW BUYS
+40
+$1132.3T deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → RETAIL
-1pp · +1pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED FEB 12, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 18.92M | $3004.8T | 8.5% | −2% |
| 2 | MSFT | MICROSOFT CORP | 6.69M | $2754.7T | 7.8% | −1% |
| 3 | AAPL | APPLE INC | 10.00M | $2315.5T | 6.6% | −5% |
| 4 | AVGO | BROADCOM INC | 5.24M | $1542.9T | 4.4% | −5% |
| 5 | AMZN | AMAZON COM INC | 7.38M | $1449.8T | 4.1% | −4% |
| 6 | LLY | ELI LILLY & CO | 876K | $801.2T | 2.3% | ±0% |
| 7 | JPM | JPMORGAN CHASE & CO. | 2.89M | $791.9T | 2.2% | +6% |
| 8 | MA | MASTERCARD INCORPORATED | 1.32M | $640.4T | 1.8% | +33% |
| 9 | COST | COSTCO WHSL CORP NEW | 672K | $493.3T | 1.4% | +62% |
| 10 | TMO | THERMO FISHER SCIENTIFIC INC | 907K | $447.5T | 1.3% | +7% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other38.6% (±0)
Technology21.1% (−1pp)
Semiconductors16.0% (±0)
Retail9.4% (±0)
Financial Services8.5% (±0)
Banking5.5%
§ 03 · THE APG SIGNAL
AC read
APG Asset Management N.V. is a Other fund managing $33771116.3 trillion in assets. The fund runs a broad portfolio of 539 positions, broad diversification across holdings, with the top 10 accounting for 40%. Trading activity is aggressive at 99% quarterly turnover, with 40 new positions and 0 exits last quarter. Top sector allocations: Other (39%), Technology (21%), Semiconductors (16%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+40 buys · −0 exits · 494 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed