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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
+4.85%
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
$1.5B
AUM Growth
+$137M
Cap. Flow
-$28.5M
Cap. Flow %
-1.9%
Top 10 Hldgs %
59.63%
Holding
48
New
6
Increased
18
Reduced
19
Closed
5

Top Buys

Rank Stock Value
1
BRX icon
Brixmor Property Group
BRX
+$29.8M
2
HST icon
Host Hotels & Resorts
HST
+$22.3M
3
TRNO icon
Terreno Realty
TRNO
+$16.1M
4
SPG icon
Simon Property Group
SPG
+$14M
5
KRC icon
Kilroy Realty
KRC
+$12.9M

Top Sells

Rank Stock Value
1
HPP
Hudson Pacific Properties
HPP
+$60.3M
2
REG icon
Regency Centers
REG
+$26.8M
3
EGP icon
EastGroup Properties
EGP
+$19.3M
4
CUZ icon
Cousins Properties
CUZ
+$17.4M
5
EQIX icon
Equinix
EQIX
+$11.5M

Sector Composition

Rank Sector Weight
1 Real Estate 96.86%
2 Healthcare 3.14%
3 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WELL icon
1
Welltower
WELL
$169B
$174M 11.67%
979,382
-2,208
-0.2% -$363K
PLD icon
2
Prologis
PLD
$132B
$146M 9.74%
1,272,288
+104,410
+9% +$11.5M
EQIX icon
3
Equinix
EQIX
$103B
$98.1M 6.56%
125,234
-14,772
-11% -$11.5M
SPG icon
4
Simon Property Group
SPG
$71.5B
$84.3M 5.64%
449,344
+81,342
+22% +$14M
DLR icon
5
Digital Realty Trust
DLR
$70.8B
$80.1M 5.35%
463,235
+56,099
+14% +$9.59M
O icon
6
Realty Income
O
$58.6B
$69M 4.61%
1,135,259
+53,853
+5% +$3.14M
PSA icon
7
Public Storage
PSA
$60.8B
$67.9M 4.54%
235,117
-9,740
-4% -$2.8M
AVB icon
8
AvalonBay Communities
AVB
$26.3B
$65.7M 4.4%
340,288
-1,567
-0.5% -$305K
EQR icon
9
Equity Residential
EQR
$24.7B
$56.8M 3.8%
878,252
+97,920
+13% +$6.4M
VICI icon
10
VICI Properties
VICI
$28.7B
$49.6M 3.32%
1,521,457
-110,455
-7% -$3.64M
BKD icon
11
Brookdale Senior Living
BKD
$3.27B
$47M 3.14%
1,013,181
-106,289
-9% -$810K
VTR icon
12
Ventas
VTR
$47.2B
$46.3M 3.1%
661,909
+48,494
+8% +$3.26M
KIM icon
13
Kimco Realty
KIM
$16.2B
$43.7M 2.92%
2,000,750
-134,016
-6% -$2.91M
IRM icon
14
Iron Mountain
IRM
$36.2B
$39.4M 2.63%
386,285
-16,920
-4% -$1.63M
ELS icon
15
Equity Lifestyle Properties
ELS
$12.5B
$38.5M 2.57%
634,055
-40,370
-6% -$2.45M
ADC icon
16
Agree Realty
ADC
$9.22B
$31.4M 2.1%
441,605
+13,995
+3% +$1.01M
BRX icon
17
Brixmor Property Group
BRX
$9.15B
$30.8M 2.06%
+1,113,830
New +$29.8M
AMH icon
18
American Homes 4 Rent
AMH
$12.3B
$30.3M 2.03%
912,001
+81,459
+10% +$2.84M
DOC icon
19
Healthpeak Properties
DOC
$14.4B
$26.5M 1.77%
1,305,556
+533,970
+69% +$9.57M
HST icon
20
Host Hotels & Resorts
HST
$15.5B
$22.9M 1.53%
+1,343,133
New +$22.3M
BXP icon
21
Boston Properties
BXP
$10.8B
$21.2M 1.42%
285,339
+153,998
+117% +$10.9M
FR icon
22
First Industrial Realty Trust
FR
$8.36B
$20.5M 1.37%
397,648
+3,203
+0.8% +$161K
MAA icon
23
Mid-America Apartment Communities
MAA
$15.4B
$16.5M 1.1%
117,764
-10,825
-8% -$1.56M
TRNO icon
24
Terreno Realty
TRNO
$7.45B
$16.1M 1.07%
+283,173
New +$16.1M
RHP icon
25
Ryman Hospitality Properties
RHP
$7.57B
$15.4M 1.03%
171,496
-88,682
-34% -$8.67M
1
2

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Adelante Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Adelante Capital Management held 48 positions worth $1.5B, up 10% from $1.36B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Adelante Capital Management's Q3 2025 filing shows 6 new, 18 increased, 19 reduced and 5 closed positions. Its largest new stake was Brixmor Property Group: 1,113,830 shares worth $30.8M. The largest sale was Hudson Pacific Properties, an estimated $60.3M.

By sector, the portfolio is most concentrated in Real Estate at 97% of assets, down from 99% a quarter earlier, followed by Healthcare and Consumer Discretionary.

  • Adelante Capital Management's largest Q3 2025 buy was Brixmor Property Group: 1,113,830 shares worth $30.8M.
  • Adelante Capital Management added most to Simon Property Group in Q3 2025, an estimated $14M increase.
  • Adelante Capital Management's biggest Q3 2025 reduction was EastGroup Properties, cutting an estimated $19.3M.
  • Adelante Capital Management fully exited Hudson Pacific Properties in Q3 2025, selling an estimated $60.3M.
  • Adelante Capital Management's ten largest holdings make up 60% of its $1.5B portfolio in Q3 2025.
  • Adelante Capital Management opened 6 new positions and closed 5 in Q3 2025.
  • Adelante Capital Management's portfolio value rose 10% quarter-over-quarter to $1.5B.

Based on Adelante Capital Management's 13F filing for Q3 2025, filed 17 Nov 2025.