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ACM

Adelante Capital Management Portfolio holdings

AUM $1.46B
1-Year Est. Return 8.98%
This Fund
S&P 500
This Quarter Est. Return
-0.03%
1 Year Est. Return
+8.98%
3 Year Est. Return
+33.71%
5 Year Est. Return
+33.9%
10 Year Est. Return
+81.52%
AUM
$1.92B
AUM Growth
-$100M
Cap. Flow
-$84.2M
Cap. Flow %
-4.39%
Top 10 Hldgs %
50.68%
Holding
47
New
4
Increased
10
Reduced
28
Closed
5

Top Buys

Rank Stock Value
1
ARE icon
Alexandria Real Estate Equities
ARE
+$52.3M
2
HGV icon
Hilton Grand Vacations
HGV
+$19.7M
3
BKD icon
Brookdale Senior Living
BKD
+$19.2M
4
VNO icon
Vornado Realty Trust
VNO
+$19.1M
5
EQIX icon
Equinix
EQIX
+$15.9M

Top Sells

Rank Stock Value
1
BXP icon
Boston Properties
BXP
+$37.1M
2
PSA icon
Public Storage
PSA
+$25.9M
3
SLG icon
SL Green Realty
SLG
+$24.1M
4
WELL icon
Welltower
WELL
+$23.2M
5
CHSP
Chesapeake Lodging Trust
CHSP
+$18.6M

Sector Composition

Rank Sector Weight
1 Real Estate 92.23%
2 Consumer Discretionary 4.55%
3 Healthcare 0.96%
4 Communication Services 0.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SHO icon
26
Sunstone Hotel Investors
SHO
$2.01B
$25.6M 1.34%
1,670,363
+1,010,725
+153% +$15.1M
CDP icon
27
COPT Defense Properties
CDP
$4.14B
$25.4M 1.33%
767,899
+239,599
+45% +$7.82M
SFR
28
DELISTED
Starwood Waypoint Homes
SFR
$24.8M 1.3%
731,584
-8,269
-1% -$263K
DRE
29
DELISTED
Duke Realty Corp.
DRE
$23.8M 1.24%
905,849
+169,734
+23% +$4.37M
ROIC
30
DELISTED
Retail Opportunity Investments Corp.
ROIC
$22.8M 1.19%
1,084,148
-264,737
-20% -$5.58M
HGV icon
31
Hilton Grand Vacations
HGV
$3.31B
$19.7M 1.03%
+688,983
New +$19.7M
BKD icon
32
Brookdale Senior Living
BKD
$3.27B
$18.3M 0.96%
+1,363,075
New +$19.2M
SITC icon
33
SITE Centers
SITC
$158M
$17M 0.89%
1,053,633
-204,376
-16% -$3.77M
O icon
34
Realty Income
O
$58.6B
$15.8M 0.83%
274,502
-153,123
-36% -$8.87M
FCPT icon
35
Four Corners Property Trust
FCPT
$2.69B
$14.7M 0.77%
642,969
-149,855
-19% -$3.22M
NNN icon
36
NNN REIT
NNN
$8.8B
$13.5M 0.7%
308,996
-63,193
-17% -$2.8M
TRNO icon
37
Terreno Realty
TRNO
$7.45B
$12.7M 0.66%
+452,415
New +$12.5M
AAT
38
American Assets Trust
AAT
$1.38B
$12.2M 0.64%
292,741
-269,581
-48% -$11.5M
OHI icon
39
Omega Healthcare
OHI
$14.4B
$11.1M 0.58%
335,987
-7,684
-2% -$247K
CHSP
40
DELISTED
Chesapeake Lodging Trust
CHSP
$10.8M 0.57%
452,335
-750,318
-62% -$18.6M
INXN
41
DELISTED
Interxion Holding N.V.
INXN
$2.21M 0.12%
55,820
-945
-2% -$36.3K
PK icon
42
Park Hotels & Resorts
PK
$2.92B
$2.11M 0.11%
+82,048
New +$2.18M
IYR icon
43
iShares US Real Estate ETF
IYR
$4.52B
– –
-14,010
Closed -$1.08M
PGRE
44
DELISTED
Paramount Group
PGRE
– –
-284,079
Closed -$4.54M
SLG icon
45
SL Green Realty
SLG
$3.9B
– –
-231,261
Closed -$24.1M
VNQ icon
46
Vanguard Real Estate ETF
VNQ
$38.6B
– –
-6,905
Closed -$570K
1
2

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Adelante Capital Management's Q1 2017 Portfolio in Review

As of Q1 2017, Adelante Capital Management held 47 positions worth $1.92B, down 5% from $2.02B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Adelante Capital Management withdrew a net $84.2M in Q1 2017, closing 5 positions and reducing 28 holdings. Its most notable exit was SL Green Realty, an estimated $24.1M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 92% of assets, down from 93% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Adelante Capital Management opened a new position in Hilton Grand Vacations worth $19.7M.

  • Adelante Capital Management's largest Q1 2017 buy was Hilton Grand Vacations: 688,983 shares worth $19.7M.
  • Adelante Capital Management added most to Alexandria Real Estate Equities in Q1 2017, an estimated $52.3M increase.
  • Adelante Capital Management's biggest Q1 2017 reduction was Boston Properties, cutting an estimated $37.1M.
  • Adelante Capital Management fully exited SL Green Realty in Q1 2017, selling an estimated $24.1M.
  • Adelante Capital Management's ten largest holdings make up 51% of its $1.92B portfolio in Q1 2017.
  • Adelante Capital Management opened 4 new positions and closed 5 in Q1 2017.
  • Adelante Capital Management's portfolio value fell 5% quarter-over-quarter to $1.92B.

Based on Adelante Capital Management's 13F filing for Q1 2017, filed 10 May 2017.