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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
-0.65%
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
$1.48B
AUM Growth
-$11.6M
Cap. Flow
+$8.12M
Cap. Flow %
0.55%
Top 10 Hldgs %
61.57%
Holding
47
New
4
Increased
19
Reduced
19
Closed
5

Top Buys

Rank Stock Value
1
ARE icon
Alexandria Real Estate Equities
ARE
+$19.1M
2
HLT icon
Hilton Worldwide
HLT
+$18.4M
3
CBRE icon
CBRE Group
CBRE
+$13M
4
AMH icon
American Homes 4 Rent
AMH
+$12.4M
5
VNO icon
Vornado Realty Trust
VNO
+$10.1M

Top Sells

Rank Stock Value
1
DOC icon
Healthpeak Properties
DOC
+$26.5M
2
HST icon
Host Hotels & Resorts
HST
+$22.9M
3
TRNO icon
Terreno Realty
TRNO
+$16.1M
4
BXP icon
Boston Properties
BXP
+$14.9M
5
INVH icon
Invitation Homes
INVH
+$14M

Sector Composition

Rank Sector Weight
1 Real Estate 95.29%
2 Healthcare 3.4%
3 Consumer Discretionary 1.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WELL icon
1
Welltower
WELL
$174B
$187M 12.58%
1,005,930
+26,548
+3% +$4.96M
PLD icon
2
Prologis
PLD
$136B
$170M 11.44%
1,330,380
+58,092
+5% +$7.24M
EQIX icon
3
Equinix
EQIX
$99.4B
$97.9M 6.6%
127,773
+2,539
+2% +$1.99M
SPG icon
4
Simon Property Group
SPG
$76.4B
$89.4M 6.03%
483,043
+33,699
+7% +$6.12M
DLR icon
5
Digital Realty Trust
DLR
$69.6B
$73.7M 4.97%
476,430
+13,195
+3% +$2.17M
O icon
6
Realty Income
O
$61.1B
$68.2M 4.6%
1,210,086
+74,827
+7% +$4.33M
PSA icon
7
Public Storage
PSA
$61.5B
$62.6M 4.22%
241,215
+6,098
+3% +$1.71M
AVB icon
8
AvalonBay Communities
AVB
$27.5B
$57.6M 3.88%
317,906
-22,382
-7% -$4.06M
EQR icon
9
Equity Residential
EQR
$25.8B
$53.9M 3.63%
855,472
-22,780
-3% -$1.4M
VTR icon
10
Ventas
VTR
$47.5B
$53.8M 3.63%
695,237
+33,328
+5% +$2.51M
BKD icon
11
Brookdale Senior Living
BKD
$3.55B
$50.5M 3.4%
1,088,545
+75,364
+7% +$741K
VICI icon
12
VICI Properties
VICI
$29.9B
$41.9M 2.82%
1,490,427
-31,030
-2% -$922K
AMH icon
13
American Homes 4 Rent
AMH
$12.1B
$41.7M 2.81%
1,300,347
+388,346
+43% +$12.4M
KIM icon
14
Kimco Realty
KIM
$17.5B
$40.1M 2.7%
1,979,607
-21,143
-1% -$439K
ELS icon
15
Equity Lifestyle Properties
ELS
$13.1B
$35.1M 2.37%
579,880
-54,175
-9% -$3.35M
BRX icon
16
Brixmor Property Group
BRX
$9.72B
$33M 2.22%
1,256,794
+142,964
+13% +$3.77M
ADC icon
17
Agree Realty
ADC
$9.66B
$31.6M 2.13%
438,415
-3,190
-0.7% -$233K
EXR icon
18
Extra Space Storage
EXR
$32.3B
$28.8M 1.94%
221,431
-16,910
-7% -$2.31M
IRM icon
19
Iron Mountain
IRM
$35.9B
$28.1M 1.9%
339,227
-47,058
-12% -$4.4M
VNO icon
20
Vornado Realty Trust
VNO
$7.65B
$21.6M 1.45%
647,857
+276,916
+75% +$10.1M
ARE icon
21
Alexandria Real Estate Equities
ARE
$9.37B
$19.4M 1.31%
397,289
+324,884
+449% +$19.1M
HLT icon
22
Hilton Worldwide
HLT
$72.4B
$19.4M 1.31%
+67,494
New +$18.4M
CBRE icon
23
CBRE Group
CBRE
$43.3B
$17.5M 1.18%
109,094
+82,629
+312% +$13M
RHP icon
24
Ryman Hospitality Properties
RHP
$8.56B
$17.4M 1.18%
184,398
+12,902
+8% +$1.19M
MAA icon
25
Mid-America Apartment Communities
MAA
$16B
$16.1M 1.08%
115,761
-2,003
-2% -$267K
1
2

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Adelante Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Adelante Capital Management held 47 positions worth $1.48B, down 0.77% from $1.5B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Adelante Capital Management's Q4 2025 filing shows 4 new, 19 increased, 19 reduced and 5 closed positions. Its largest new stake was Hilton Worldwide: 67,494 shares worth $19.4M. The largest sale was Healthpeak Properties, an estimated $26.5M.

By sector, the portfolio is most concentrated in Real Estate at 95% of assets, down from 97% a quarter earlier, followed by Healthcare and Consumer Discretionary.

  • Adelante Capital Management's largest Q4 2025 buy was Hilton Worldwide: 67,494 shares worth $19.4M.
  • Adelante Capital Management added most to Alexandria Real Estate Equities in Q4 2025, an estimated $19.1M increase.
  • Adelante Capital Management's biggest Q4 2025 reduction was Boston Properties, cutting an estimated $14.9M.
  • Adelante Capital Management fully exited Healthpeak Properties in Q4 2025, selling an estimated $26.5M.
  • Adelante Capital Management's ten largest holdings make up 62% of its $1.48B portfolio in Q4 2025.
  • Adelante Capital Management opened 4 new positions and closed 5 in Q4 2025.
  • Adelante Capital Management's portfolio value fell 0.77% quarter-over-quarter to $1.48B.

Based on Adelante Capital Management's 13F filing for Q4 2025, filed 18 Feb 2026.