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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
+3.22%
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
$1.14B
AUM Growth
-$42.8M
Cap. Flow
-$60.7M
Cap. Flow %
-5.31%
Top 10 Hldgs %
62.44%
Holding
46
New
3
Increased
13
Reduced
28
Closed
2

Top Buys

Rank Stock Value
1
BXP icon
Boston Properties
BXP
+$15.6M
2
LSI
Life Storage, Inc.
LSI
+$12.2M
3
SBRA icon
Sabra Healthcare REIT
SBRA
+$8.87M
4
MAA icon
Mid-America Apartment Communities
MAA
+$7.09M
5
BRX icon
Brixmor Property Group
BRX
+$4.73M

Top Sells

Rank Stock Value
1
KRC icon
Kilroy Realty
KRC
+$21.3M
2
PLD icon
Prologis
PLD
+$15.7M
3
INVH icon
Invitation Homes
INVH
+$11.3M
4
PSA icon
Public Storage
PSA
+$9.65M
5
PLYA
Playa Hotels & Resorts
PLYA
+$9.19M

Sector Composition

Rank Sector Weight
1 Real Estate 96.71%
2 Consumer Discretionary 3.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALEX
26
DELISTED
Alexander & Baldwin
ALEX
$11.4M 1%
603,489
-43,681
-7% -$828K
HR icon
27
Healthcare Realty
HR
$6.56B
$10.8M 0.95%
560,366
-26,804
-5% -$540K
EGP icon
28
EastGroup Properties
EGP
$10.8B
$10.3M 0.9%
62,123
-5,994
-9% -$975K
LAMR icon
29
Lamar Advertising Co
LAMR
$15.6B
$9.08M 0.79%
90,910
-7,600
-8% -$772K
SBRA icon
30
Sabra Healthcare REIT
SBRA
$5.07B
$8.24M 0.72%
+716,956
New +$8.87M
FR icon
31
First Industrial Realty Trust
FR
$8.35B
$7.27M 0.63%
136,590
-44,472
-25% -$2.32M
VICI icon
32
VICI Properties
VICI
$28.6B
$5.11M 0.45%
156,630
+49,345
+46% +$1.63M
O icon
33
Realty Income
O
$58.6B
$3.67M 0.32%
57,890
+410
+0.7% +$26.6K
SBAC icon
34
SBA Communications
SBAC
$19.3B
$1.88M 0.16%
7,185
-305
-4% -$83.9K
CCI icon
35
Crown Castle
CCI
$31.3B
$1.57M 0.14%
11,765
+1,920
+20% +$265K
HLT icon
36
Hilton Worldwide
HLT
$70.8B
$1.01M 0.09%
7,201
-900
-11% -$127K
PCH
37
DELISTED
PotlatchDeltic
PCH
$953K 0.08%
19,260
-4,460
-19% -$209K
CUZ icon
38
Cousins Properties
CUZ
$4.83B
$737K 0.06%
34,490
+9,610
+39% +$234K
IHS icon
39
IHS Holding
IHS
$2.8B
$651K 0.06%
74,340
-33,625
-31% -$251K
IRM icon
40
Iron Mountain
IRM
$36.4B
$603K 0.05%
+11,405
New +$598K
BNL icon
41
Broadstone Net Lease
BNL
$3.96B
$584K 0.05%
34,315
-2,430
-7% -$42.3K
FRT icon
42
Federal Realty Investment Trust
FRT
$10.1B
– –
-7,796
Closed -$788K
KRC icon
43
Kilroy Realty
KRC
$4.24B
– –
-550,376
Closed -$21.3M
PLD icon
44
Prologis
PLD
$133B
$0 ﹤0.01%
1,920,037
-127,826
-6% -$15.7M
SPG icon
45
Simon Property Group
SPG
$71.2B
$0 ﹤0.01%
574,155
+9,225
+2% +$1.1M
ROIC
46
DELISTED
Retail Opportunity Investments Corp.
ROIC
$0 ﹤0.01%
780,665
-113,858
-13% -$1.65M
1
2

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KRSITF
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HTI
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VIP
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SWA
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Adelante Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Adelante Capital Management held 46 positions worth $1.14B, down 3.6% from $1.19B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Adelante Capital Management withdrew a net $60.7M in Q1 2023, closing 2 positions and reducing 28 holdings. Its most notable exit was Kilroy Realty, an estimated $21.3M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 97% of assets, up from 96% a quarter earlier, followed by Consumer Discretionary.

Against the trend, Adelante Capital Management opened a new position in Life Storage, Inc. worth $13.9M.

  • Adelante Capital Management's largest Q1 2023 buy was Life Storage, Inc.: 105,730 shares worth $13.9M.
  • Adelante Capital Management added most to Boston Properties in Q1 2023, an estimated $15.6M increase.
  • Adelante Capital Management's biggest Q1 2023 reduction was Prologis, cutting an estimated $15.7M.
  • Adelante Capital Management fully exited Kilroy Realty in Q1 2023, selling an estimated $21.3M.
  • Adelante Capital Management's ten largest holdings make up 62% of its $1.14B portfolio in Q1 2023.
  • Adelante Capital Management opened 3 new positions and closed 2 in Q1 2023.
  • Adelante Capital Management's portfolio value fell 3.6% quarter-over-quarter to $1.14B.

Based on Adelante Capital Management's 13F filing for Q1 2023, filed 16 May 2023.