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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
+1.73%
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
$1.32B
AUM Growth
-$194M
Cap. Flow
-$78M
Cap. Flow %
-5.9%
Top 10 Hldgs %
61.1%
Holding
46
New
1
Increased
14
Reduced
26
Closed
5

Top Buys

Rank Stock Value
1
O icon
Realty Income
O
+$44.4M
2
VICI icon
VICI Properties
VICI
+$39.3M
3
ADC icon
Agree Realty
ADC
+$26.3M
4
DOC icon
Healthpeak Properties
DOC
+$23.5M
5
EPRT icon
Essential Properties Realty Trust
EPRT
+$18.7M

Top Sells

Rank Stock Value
1
WELL icon
Welltower
WELL
+$29.6M
2
SPG icon
Simon Property Group
SPG
+$26.1M
3
ARE icon
Alexandria Real Estate Equities
ARE
+$25.8M
4
PLD icon
Prologis
PLD
+$22.6M
5
SUI icon
Sun Communities
SUI
+$19.6M

Sector Composition

Rank Sector Weight
1 Real Estate 98.49%
2 Consumer Discretionary 0.8%
3 Healthcare 0.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WELL icon
1
Welltower
WELL
$169B
$148M 11.17%
963,730
-207,502
-18% -$29.6M
PLD icon
2
Prologis
PLD
$132B
$135M 10.19%
1,205,055
-195,289
-14% -$22.6M
EQIX icon
3
Equinix
EQIX
$103B
$117M 8.83%
143,114
-7,973
-5% -$7.17M
AVB icon
4
AvalonBay Communities
AVB
$26.3B
$74M 5.6%
344,822
-55,622
-14% -$12.1M
EQR icon
5
Equity Residential
EQR
$24.7B
$66.6M 5.04%
929,789
-147,548
-14% -$10.4M
SPG icon
6
Simon Property Group
SPG
$71.5B
$64.2M 4.86%
386,479
-149,261
-28% -$26.1M
DLR icon
7
Digital Realty Trust
DLR
$70.8B
$61.2M 4.63%
427,306
-80,397
-16% -$13.1M
O icon
8
Realty Income
O
$58.6B
$49.9M 3.78%
860,671
+802,526
+1,380% +$44.4M
VICI icon
9
VICI Properties
VICI
$28.7B
$46.5M 3.52%
1,424,836
+1,276,704
+862% +$39.3M
KIM icon
10
Kimco Realty
KIM
$16.2B
$46M 3.48%
2,163,571
-153,760
-7% -$3.36M
ELS icon
11
Equity Lifestyle Properties
ELS
$12.5B
$42.3M 3.2%
634,637
+205,609
+48% +$13.7M
AMH icon
12
American Homes 4 Rent
AMH
$12.3B
$34.5M 2.61%
913,578
+75,775
+9% +$2.71M
VTR icon
13
Ventas
VTR
$47.2B
$33.6M 2.54%
488,664
-34,292
-7% -$2.19M
EGP icon
14
EastGroup Properties
EGP
$10.9B
$29.6M 2.24%
168,269
-47,640
-22% -$8.29M
ADC icon
15
Agree Realty
ADC
$9.22B
$28.6M 2.17%
370,652
+358,767
+3,019% +$26.3M
RHP icon
16
Ryman Hospitality Properties
RHP
$7.57B
$27.7M 2.1%
302,992
-45,898
-13% -$4.61M
EXR icon
17
Extra Space Storage
EXR
$31B
$27.6M 2.09%
186,050
-105,062
-36% -$15.9M
BXP icon
18
Boston Properties
BXP
$10.8B
$25.8M 1.95%
383,958
-175,536
-31% -$12.3M
REG icon
19
Regency Centers
REG
$13.9B
$25.7M 1.95%
348,468
+18,444
+6% +$1.34M
DOC icon
20
Healthpeak Properties
DOC
$14.4B
$24M 1.82%
1,189,069
+1,163,017
+4,464% +$23.5M
FR icon
21
First Industrial Realty Trust
FR
$8.36B
$21.5M 1.63%
399,043
+154,600
+63% +$8.36M
EPRT icon
22
Essential Properties Realty Trust
EPRT
$6.53B
$20.8M 1.57%
636,179
+588,416
+1,232% +$18.7M
CUZ icon
23
Cousins Properties
CUZ
$4.83B
$20.1M 1.52%
682,499
+245,872
+56% +$7.36M
AMT icon
24
American Tower
AMT
$78.8B
$13.7M 1.04%
63,158
+23,314
+59% +$4.57M
OHI icon
25
Omega Healthcare
OHI
$14.4B
$12.8M 0.97%
337,195
-101,431
-23% -$3.77M
1
2

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Adelante Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Adelante Capital Management held 46 positions worth $1.32B, down 13% from $1.52B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Adelante Capital Management withdrew a net $78M in Q1 2025, closing 5 positions and reducing 26 holdings. Its most notable exit was Sun Communities, an estimated $19.6M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 98% of assets, up from 94% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Adelante Capital Management opened a new position in Tanger worth $9.5M.

  • Adelante Capital Management's largest Q1 2025 buy was Tanger: 281,084 shares worth $9.5M.
  • Adelante Capital Management added most to Realty Income in Q1 2025, an estimated $44.4M increase.
  • Adelante Capital Management's biggest Q1 2025 reduction was Welltower, cutting an estimated $29.6M.
  • Adelante Capital Management fully exited Sun Communities in Q1 2025, selling an estimated $19.6M.
  • Adelante Capital Management's ten largest holdings make up 61% of its $1.32B portfolio in Q1 2025.
  • Adelante Capital Management opened 1 new position and closed 5 in Q1 2025.
  • Adelante Capital Management's portfolio value fell 13% quarter-over-quarter to $1.32B.

Based on Adelante Capital Management's 13F filing for Q1 2025, filed 16 May 2025.