APG Asset Management US Inc. 13F Holdings: Q3 2022 vs. Q4 2022 Comparison and Analysis

APG Asset Management US Inc. Q3 2022 vs. Q4 2022 13F Holdings Comparison

APG Asset Management US Inc. is a global investment firm that manages many different funds throughout the world. One of its funds has notable holdings in various leading real estate investment trusts (REITs). The Q3 2022 vs. Q4 2022 comparison of the fund’s holdings provides a snapshot of the trends and changes seen in the real estate market during that time. This post will summarize and analyze the changes in the holdings of the fund between the two quarters.

Overall, the fund increased its holdings in 15 companies, decreased in 10, and did not change in four. The total value of its holdings also increased from $22,224,797 in Q3 2022 to $23,691,780 in Q4 2022. This indicates that the fund is optimistic about the outlook of the real estate market, and it is confident in its existing investments.

The fund’s largest holding in Q4 2022 was the Prologis Inc., a global leader in logistics real estate, with over $2.28 billion invested. The fund increased its holdings in Prologis by 2.1%, which represents a total of 300,812 more shares in Q4 2022. This increase indicates that the fund believes that the logistics industry is still robust and will continue to grow.

Another significant holding for the fund in Q4 2022 was Alexandria Real Estate Equities, Inc., with a total of $1.07 billion invested. This was a decrease of 2.9% from Q3 2022 when the total value of the investment stood at $1.04 billion. This decrease did not come as a surprise since some of the stocks in the portfolio had underperformed.

One of the most notable changes seen in the fund’s portfolio was in Invitation Homes Inc., where the fund decreased its holdings by 13.4%. The total value of the holdings dropped from $589,717 in Q3 2022 to $510,814 in Q4 2022. This decrease could be related to the challenges seen in the single-family rental market in Q4 2022. However, the fund still has a significant investment in this market and is optimistic about its long-term prospects.

Equity Residential is another significant stock in the fund’s portfolio, where it decreased its holding by 12.3% from Q3 2022 to Q4 2022. The total value of the holdings dropped from $796.316 million in Q3 2022 to $698.416 million in Q4 2022. This decline could be related to the continued supply and demand imbalance in the rental market that Equity Residential operates in.

On the other hand, the fund increased its holding in Simon Property Group Inc. by a massive 75.5% from Q3 2022 to Q4 2022. The total value of the holdings increased from $59,216 in Q3 2022 to $103,921 in Q4 2022. This increase indicates that the fund is bullish on the recovery of the retail real estate market.

The fund also significantly decreased its holding in Urban Edge Properties, a REIT focused on shopping centers and retail properties. The decrease in holdings of Urban Edge Properties by 46.9% from Q3 2022 to Q4 2022 indicates that the fund may feel that this sector of the market has challenges ahead.

Overall, the changes in holdings between Q3 2022 and Q4 2022 indicate that APG Asset Management US Inc. is confident in the long-term prospects of the real estate market. While there were decreases in some holdings, the fund continues to invest in the market and increase holdings in solid performers. The company's strategy shows its conviction that the real estate market will continue to grow, and the firm hopes to capture a larger share of the market for its investors.