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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
+2.99%
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
-$150M
Cap. Flow
-$193M
Cap. Flow %
-10.91%
Top 10 Hldgs %
51.61%
Holding
43
New
1
Increased
11
Reduced
29
Closed
2

Top Buys

Rank Stock Value
1
VNO icon
Vornado Realty Trust
VNO
+$19.5M
2
MAR icon
Marriott International
MAR
+$19.1M
3
SFR
Starwood Waypoint Homes
SFR
+$8.1M
4
HR icon
Healthcare Realty
HR
+$4.17M
5
AAT
American Assets Trust
AAT
+$3.47M

Top Sells

Rank Stock Value
1
DRE
Duke Realty Corp.
DRE
+$24.3M
2
SPG icon
Simon Property Group
SPG
+$20.5M
3
SHO icon
Sunstone Hotel Investors
SHO
+$19.4M
4
EQIX icon
Equinix
EQIX
+$17.9M
5
AIV
Aimco
AIV
+$17.6M

Sector Composition

Rank Sector Weight
1 Real Estate 90.63%
2 Consumer Discretionary 5.74%
3 Healthcare 1.07%
4 Communication Services 0.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPG icon
1
Simon Property Group
SPG
$71.5B
$174M 9.85%
1,075,998
-125,629
-10% -$20.5M
PLD icon
2
Prologis
PLD
$132B
$105M 5.95%
1,793,285
+61,916
+4% +$3.45M
EQR icon
3
Equity Residential
EQR
$24.7B
$99.2M 5.62%
1,506,945
-60,430
-4% -$3.95M
WELL icon
4
Welltower
WELL
$169B
$96.8M 5.48%
1,292,894
+31,343
+2% +$2.29M
REG icon
5
Regency Centers
REG
$13.9B
$79.5M 4.5%
1,268,801
+47,813
+4% +$3.02M
PSA icon
6
Public Storage
PSA
$60.8B
$77.1M 4.37%
369,929
-80,181
-18% -$17.2M
VNO icon
7
Vornado Realty Trust
VNO
$7.26B
$75.4M 4.27%
992,816
+251,065
+34% +$19.5M
ARE icon
8
Alexandria Real Estate Equities
ARE
$8.32B
$72.4M 4.1%
601,109
-89,640
-13% -$10.4M
AIV
9
Aimco
AIV
$381M
$66.9M 3.79%
11,687,824
-3,010,859
-20% -$17.6M
EXR icon
10
Extra Space Storage
EXR
$31B
$65.2M 3.69%
835,320
-57,625
-6% -$4.42M
ESS icon
11
Essex Property Trust
ESS
$18.2B
$64.3M 3.64%
250,057
-59,988
-19% -$15.1M
KRC icon
12
Kilroy Realty
KRC
$4.32B
$62.1M 3.52%
827,000
-147,036
-15% -$10.8M
EQIX icon
13
Equinix
EQIX
$103B
$60.5M 3.43%
141,076
-42,114
-23% -$17.9M
DCT
14
DELISTED
DCT Industrial Trust Inc.
DCT
$53.9M 3.05%
1,007,855
-63,900
-6% -$3.34M
MAR icon
15
Marriott International
MAR
$90.9B
$53.4M 3.02%
532,648
+190,556
+56% +$19.1M
HR icon
16
Healthcare Realty
HR
$6.73B
$53.2M 3.01%
1,709,075
+132,434
+8% +$4.17M
KIM icon
17
Kimco Realty
KIM
$16.2B
$42.6M 2.41%
2,320,364
-316,792
-12% -$6.21M
DFT
18
DELISTED
DuPont Fabros Technology Inc.
DFT
$41.5M 2.35%
679,305
-150,355
-18% -$8.26M
AMT icon
19
American Tower
AMT
$78.8B
$41.1M 2.33%
310,875
-23,830
-7% -$3.05M
HIW icon
20
Highwoods Properties
HIW
$3.41B
$37M 2.09%
728,705
-25,052
-3% -$1.28M
SUI icon
21
Sun Communities
SUI
$14.4B
$34.5M 1.95%
393,041
-40,795
-9% -$3.5M
SFR
22
DELISTED
Starwood Waypoint Homes
SFR
$33.2M 1.88%
966,454
+234,870
+32% +$8.1M
GGP
23
DELISTED
GGP Inc.
GGP
$32.3M 1.83%
1,370,169
-481,227
-26% -$11.1M
CDP icon
24
COPT Defense Properties
CDP
$4.14B
$27.7M 1.57%
791,620
+23,721
+3% +$808K
HLT icon
25
Hilton Worldwide
HLT
$70B
$26.8M 1.52%
433,040
-170,722
-28% -$10.6M
1
2

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Adelante Capital Management's Q2 2017 Portfolio in Review

As of Q2 2017, Adelante Capital Management held 43 positions worth $1.77B, down 7.8% from $1.92B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Adelante Capital Management withdrew a net $193M in Q2 2017, closing 2 positions and reducing 29 holdings. Its most notable exit was Chesapeake Lodging Trust, an estimated $10.8M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 91% of assets, down from 92% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Adelante Capital Management opened a new position in Vanguard Real Estate ETF worth $1.25M.

  • Adelante Capital Management's largest Q2 2017 buy was Vanguard Real Estate ETF: 14,980 shares worth $1.25M.
  • Adelante Capital Management added most to Vornado Realty Trust in Q2 2017, an estimated $19.5M increase.
  • Adelante Capital Management's biggest Q2 2017 reduction was Duke Realty Corp., cutting an estimated $24.3M.
  • Adelante Capital Management fully exited Chesapeake Lodging Trust in Q2 2017, selling an estimated $10.8M.
  • Adelante Capital Management's ten largest holdings make up 52% of its $1.77B portfolio in Q2 2017.
  • Adelante Capital Management opened 1 new position and closed 2 in Q2 2017.
  • Adelante Capital Management's portfolio value fell 7.8% quarter-over-quarter to $1.77B.

Based on Adelante Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.