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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
-7.03%
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
$1.77B
AUM Growth
-$3.28M
Cap. Flow
+$162M
Cap. Flow %
9.12%
Top 10 Hldgs %
53.93%
Holding
47
New
4
Increased
25
Reduced
16
Closed
2

Top Buys

Rank Stock Value
1
BXP icon
Boston Properties
BXP
+$72.3M
2
CPT icon
Camden Property Trust
CPT
+$50.2M
3
VTR icon
Ventas
VTR
+$25.9M
4
MAR icon
Marriott International
MAR
+$25.2M
5
EXR icon
Extra Space Storage
EXR
+$20.9M

Top Sells

Rank Stock Value
1
VNO icon
Vornado Realty Trust
VNO
+$64.4M
2
MAA icon
Mid-America Apartment Communities
MAA
+$29.9M
3
WELL icon
Welltower
WELL
+$26.8M
4
AIV
Aimco
AIV
+$23.7M
5
PSA icon
Public Storage
PSA
+$19.6M

Sector Composition

Rank Sector Weight
1 Real Estate 95.7%
2 Consumer Discretionary 4.18%
3 Communication Services 0.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AIV
26
Aimco
AIV
$381M
$24.9M 1.41%
4,263,955
-3,985,572
-48% -$23.7M
HGV icon
27
Hilton Grand Vacations
HGV
$3.31B
$22.5M 1.27%
854,193
-16,483
-2% -$478K
DRH icon
28
Diamondrock Hospitality Co
DRH
$2.48B
$22.2M 1.26%
2,447,430
+554,645
+29% +$5.72M
MAC icon
29
Macerich
MAC
$6.9B
$17.4M 0.99%
+403,150
New +$19.9M
TRNO icon
30
Terreno Realty
TRNO
$7.45B
$17.3M 0.98%
491,339
+51,734
+12% +$1.93M
CDP icon
31
COPT Defense Properties
CDP
$4.14B
$16.4M 0.93%
781,190
-154,323
-16% -$3.93M
COR
32
DELISTED
Coresite Realty Corporation
COR
$15.4M 0.87%
176,770
+163,630
+1,245% +$15.9M
JBGS
33
JBG SMITH
JBGS
$653M
$15.2M 0.86%
436,340
+86,111
+25% +$3.24M
FCPT icon
34
Four Corners Property Trust
FCPT
$2.69B
$13.1M 0.74%
500,882
+33,556
+7% +$889K
CWK icon
35
Cushman & Wakefield Ltd
CWK
$3.12B
$11.6M 0.65%
798,350
+647,795
+430% +$10.8M
NNN icon
36
NNN REIT
NNN
$8.8B
$11.1M 0.63%
228,329
+1,183
+0.5% +$56.4K
ROIC
37
DELISTED
Retail Opportunity Investments Corp.
ROIC
$10.8M 0.61%
679,910
-78,795
-10% -$1.39M
ALEX
38
DELISTED
Alexander & Baldwin
ALEX
$10.8M 0.61%
586,036
+220,646
+60% +$4.45M
SHO icon
39
Sunstone Hotel Investors
SHO
$2.01B
$6.95M 0.39%
534,329
-900,867
-63% -$13.3M
INXN
40
DELISTED
Interxion Holding N.V.
INXN
$2.1M 0.12%
38,745
-1,665
-4% -$100K
HLT icon
41
Hilton Worldwide
HLT
$70B
$1.74M 0.1%
24,253
-72,954
-75% -$5.27M
HPP
42
Hudson Pacific Properties
HPP
$740M
$1.16M 0.07%
+5,681
New +$1.21M
PSA icon
43
Public Storage
PSA
$60.8B
$769K 0.04%
3,797
-95,998
-96% -$19.6M
IYR icon
44
iShares US Real Estate ETF
IYR
$4.52B
$51K ﹤0.01%
683
+412
+152% +$32.4K
VNO icon
45
Vornado Realty Trust
VNO
$7.26B
$1K ﹤0.01%
13
-940,670
-100% -$64.4M
MAA icon
46
Mid-America Apartment Communities
MAA
$15.4B
– –
-298,840
Closed -$29.9M
VICI icon
47
VICI Properties
VICI
$28.7B
– –
-316,307
Closed -$6.84M
1
2

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Adelante Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Adelante Capital Management held 47 positions worth $1.77B, down 0.18% from $1.77B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Adelante Capital Management deployed $162M of net new capital in Q4 2018, opening 4 new positions and adding to 25 existing holdings. Its largest new stake was Boston Properties: 596,593 shares worth $67.1M.

By sector, the portfolio is most concentrated in Real Estate at 96% of assets, up from 95% a quarter earlier, followed by Consumer Discretionary and Communication Services.

On the sell side, the largest reduction was Vornado Realty Trust, an estimated $64.4M trimmed.

  • Adelante Capital Management's largest Q4 2018 buy was Boston Properties: 596,593 shares worth $67.1M.
  • Adelante Capital Management added most to Ventas in Q4 2018, an estimated $25.9M increase.
  • Adelante Capital Management's biggest Q4 2018 reduction was Vornado Realty Trust, cutting an estimated $64.4M.
  • Adelante Capital Management fully exited Mid-America Apartment Communities in Q4 2018, selling an estimated $29.9M.
  • Adelante Capital Management's ten largest holdings make up 54% of its $1.77B portfolio in Q4 2018.
  • Adelante Capital Management opened 4 new positions and closed 2 in Q4 2018.
  • Adelante Capital Management's portfolio value fell 0.18% quarter-over-quarter to $1.77B.

Based on Adelante Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.