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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
EQIX icon
1
Equinix
EQIX
$103B
$125M 10.95%
173,834
-2,704
-2% -$1.9M
PSA icon
2
Public Storage
PSA
$60.8B
$85.6M 7.48%
283,241
-32,804
-10% -$9.65M
WELL icon
3
Welltower
WELL
$169B
$85.5M 7.47%
1,191,961
-55,298
-4% -$4.01M
EQR icon
4
Equity Residential
EQR
$24.7B
$79.1M 6.91%
1,318,575
-52,633
-4% -$3.23M
EXR icon
5
Extra Space Storage
EXR
$31B
$69.1M 6.04%
424,064
-56,981
-12% -$8.95M
KIM icon
6
Kimco Realty
KIM
$16.2B
$67.2M 5.87%
3,438,693
+121,355
+4% +$2.5M
ESS icon
7
Essex Property Trust
ESS
$18.2B
$58.9M 5.15%
281,667
-10,106
-3% -$2.23M
ELS icon
8
Equity Lifestyle Properties
ELS
$12.5B
$50.6M 4.42%
753,958
-74,733
-9% -$5.07M
CPT icon
9
Camden Property Trust
CPT
$11B
$47.7M 4.17%
454,832
-4,656
-1% -$531K
ARE icon
10
Alexandria Real Estate Equities
ARE
$8.32B
$45.7M 3.99%
363,866
+315
+0.1% +$46.3K
AMH icon
11
American Homes 4 Rent
AMH
$12.3B
$44.6M 3.89%
1,417,073
+142,881
+11% +$4.56M
BXP icon
12
Boston Properties
BXP
$10.8B
$40.9M 3.57%
755,772
+238,942
+46% +$15.6M
VTR icon
13
Ventas
VTR
$47.2B
$31.4M 2.74%
724,386
-141,189
-16% -$6.81M
INVH icon
14
Invitation Homes
INVH
$17.8B
$31.1M 2.71%
994,957
-361,708
-27% -$11.3M
RHP icon
15
Ryman Hospitality Properties
RHP
$7.57B
$25.7M 2.25%
286,509
-42,717
-13% -$3.79M
AMT icon
16
American Tower
AMT
$78.8B
$24.4M 2.14%
119,612
-2,431
-2% -$510K
BRX icon
17
Brixmor Property Group
BRX
$9.15B
$22M 1.92%
1,020,755
+212,669
+26% +$4.73M
DLR icon
18
Digital Realty Trust
DLR
$70.8B
$21.6M 1.89%
219,821
-2,120
-1% -$223K
PLYA
19
DELISTED
Playa Hotels & Resorts
PLYA
$20.8M 1.81%
2,162,455
-1,151,836
-35% -$9.19M
AVB icon
20
AvalonBay Communities
AVB
$26.3B
$20.5M 1.79%
121,942
-42,073
-26% -$7.18M
MAA icon
21
Mid-America Apartment Communities
MAA
$15.4B
$18.8M 1.64%
124,217
+44,692
+56% +$7.09M
MAR icon
22
Marriott International
MAR
$90.9B
$15.9M 1.39%
95,702
-39,456
-29% -$6.57M
LSI
23
DELISTED
Life Storage, Inc.
LSI
$13.9M 1.21%
+105,730
New +$12.2M
REXR icon
24
Rexford Industrial Realty
REXR
$8.13B
$12.6M 1.1%
211,383
+69,643
+49% +$4.17M
NTST
25
NETSTREIT Corp
NTST
$2.03B
$12M 1.05%
658,792
+123,514
+23% +$2.38M
1
2

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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.