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ACM

Adelante Capital Management Portfolio holdings

AUM $1.52B
1-Year Est. Return 23.15%
This Fund
S&P 500
This Quarter Est. Return
+11.5%
1 Year Est. Return
+23.15%
3 Year Est. Return
+43.2%
5 Year Est. Return
+31.81%
10 Year Est. Return
+95.84%
AUM
$1.46B
AUM Growth
-$237M
Cap. Flow
-$394M
Cap. Flow %
-26.93%
Top 10 Hldgs %
59.13%
Holding
40
New
2
Increased
10
Reduced
27
Closed
1

Top Buys

Rank Stock Value
1
SUI icon
Sun Communities
SUI
+$19.1M
2
FRT icon
Federal Realty Investment Trust
FRT
+$13.4M
3
ESS icon
Essex Property Trust
ESS
+$8.54M
4
OHI icon
Omega Healthcare
OHI
+$2.05M
5
AMT icon
American Tower
AMT
+$1.86M

Top Sells

Rank Stock Value
1
PLD icon
Prologis
PLD
+$41.2M
2
DOC icon
Healthpeak Properties
DOC
+$40.5M
3
AVB
AvalonBay Communities
AVB
+$39.1M
4
EQIX icon
Equinix
EQIX
+$37M
5
ROIC
Retail Opportunity Investments Corp.
ROIC
+$24.3M

Sector Composition

Rank Sector Weight
1 Real Estate 99.5%
2 Communication Services 0.36%
3 Consumer Discretionary 0.12%
4 Miscellaneous 0.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PLD icon
1
Prologis
PLD
$126B
$163M 11.17%
1,640,110
-407,120
-20% -$41.2M
EQIX icon
2
Equinix
EQIX
$99.5B
$153M 10.46%
214,402
-49,720
-19% -$37M
ARE icon
3
Alexandria Real Estate Equities
ARE
$8.59B
$82.5M 5.64%
462,740
-116,766
-20% -$19.3M
EXR icon
4
Extra Space Storage
EXR
$28.2B
$78.1M 5.34%
673,935
-186,136
-22% -$21.2M
WELL icon
5
Welltower
WELL
$167B
$76.4M 5.22%
1,181,826
+8,016
+0.7% +$487K
VMRK
6
Vivmark Residential
VMRK
$47.6B
$74.4M 5.08%
1,255,334
-255,093
-17% -$14.4M
DRE
7
DELISTED
Duke Realty Corp.
DRE
$63.2M 4.32%
1,581,393
-208,259
-12% -$8.12M
CPT icon
8
Camden Property Trust
CPT
$11.4B
$61.6M 4.21%
616,462
-149,518
-20% -$14.5M
ELS icon
9
Equity Lifestyle Properties
ELS
$11.5B
$57.9M 3.96%
914,525
-171,477
-16% -$10.6M
SPG icon
10
Simon Property Group
SPG
$66.3B
$54.7M 3.74%
641,037
-200,689
-24% -$15.3M
INVH icon
11
Invitation Homes
INVH
$15.7B
$50.6M 3.45%
1,702,150
-329,516
-16% -$9.49M
KIM icon
12
Kimco Realty
KIM
$15.1B
$49M 3.35%
3,262,626
-919,831
-22% -$12.2M
ESS icon
13
Essex Property Trust
ESS
$17.5B
$45.6M 3.11%
191,935
+37,007
+24% +$8.54M
AMT icon
14
American Tower
AMT
$78.8B
$42.2M 2.89%
188,128
+8,017
+4% +$1.86M
BXP icon
15
Boston Properties
BXP
$10.1B
$38.4M 2.62%
406,131
-163,204
-29% -$14.6M
KRC icon
16
Kilroy Realty
KRC
$3.98B
$34M 2.33%
592,888
-190,646
-24% -$10.7M
HR icon
17
Healthcare Realty
HR
$6.19B
$32.7M 2.23%
1,187,008
-183,876
-13% -$4.85M
RHP icon
18
Ryman Hospitality Properties
RHP
$8.38B
$30M 2.05%
442,443
-222,640
-33% -$11.9M
DOC icon
19
Healthpeak Properties
DOC
$14B
$24.4M 1.67%
808,013
-1,391,190
-63% -$40.5M
AMH icon
20
American Homes 4 Rent
AMH
$11B
$23M 1.57%
765,828
-292,200
-28% -$8.57M
CUBE icon
21
CubeSmart
CUBE
$8.52B
$22.1M 1.51%
658,428
-522,367
-44% -$17.5M
SUI icon
22
Sun Communities
SUI
$13.7B
$22M 1.51%
145,029
+132,069
+1,019% +$19.1M
CONE
23
DELISTED
CyrusOne Inc Common Stock
CONE
$20.7M 1.41%
282,575
-255,550
-47% -$18.5M
ACC
24
DELISTED
American Campus Communities, Inc.
ACC
$19M 1.3%
443,864
-47,741
-10% -$1.9M
HIW icon
25
Highwoods Properties
HIW
$3.32B
$17.4M 1.19%
439,090
-345,811
-44% -$12.5M
1
2

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Adelante Capital Management's Q4 2020 Portfolio in Review

As of Q4 2020, Adelante Capital Management held 40 positions worth $1.46B, down 14% from $1.7B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Adelante Capital Management withdrew a net $394M in Q4 2020, closing 1 position and reducing 27 holdings. Its most notable exit was Diamondrock Hospitality Co, an estimated $305K position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 99% of assets, down from 100% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Adelante Capital Management opened a new position in Federal Realty Investment Trust worth $13.7M.

  • Adelante Capital Management's largest Q4 2020 buy was Federal Realty Investment Trust: 160,690 shares worth $13.7M.
  • Adelante Capital Management added most to Sun Communities in Q4 2020, an estimated $19.1M increase.
  • Adelante Capital Management's biggest Q4 2020 reduction was Prologis, cutting an estimated $41.2M.
  • Adelante Capital Management fully exited Diamondrock Hospitality Co in Q4 2020, selling an estimated $305K.
  • Adelante Capital Management's ten largest holdings make up 59% of its $1.46B portfolio in Q4 2020.
  • Adelante Capital Management opened 2 new positions and closed 1 in Q4 2020.
  • Adelante Capital Management's portfolio value fell 14% quarter-over-quarter to $1.46B.

Based on Adelante Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.