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HCM
HGI Capital Management Portfolio holdings
AUM
$36.4M
1-Year Est. Return
4.49%
This Fund
S&P 500
This Quarter
Est. Return
-5.36%
1 Year Est. Return
-4.49%
3 Year Est. Return
+47.03%
5 Year Est. Return
+59.56%
10 Year Est. Return
+131.02%
AUM
$88M
AUM Growth
-$120M
(-58%)
Cap. Flow
-$115M
Cap. Flow
% of AUM
-131.25%
Top 10 Holdings %
Top 10 Hldgs %
51.22%
Holding
57
New
19
Increased
2
Reduced
20
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
InvenTrust Properties
IVT
|
+$4.76M |
| 2 |
Ventas
VTR
|
+$3.94M |
| 3 |
SITE Centers
SITC
|
+$3.45M |
| 4 |
CBRE Group
CBRE
|
+$2.73M |
| 5 |
Newmark Group
NMRK
|
+$2.35M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kimco Realty
KIM
|
+$11.1M |
| 2 |
Public Storage
PSA
|
+$10.7M |
| 3 |
Regency Centers
REG
|
+$10.6M |
| 4 |
Equity Residential
EQR
|
+$8.78M |
| 5 |
Omega Healthcare
OHI
|
+$7.97M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 94.93% |
| 2 | Communication Services | 4.06% |
| 3 | Financials | 0.78% |
| 4 | Consumer Discretionary | 0.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BRDG
26
DELISTED
Bridge Investment Group
BRDG
| $685K | 0.78% |
+74,476
| New | +$823K |
|
27
Sun Communities
SUI
$15.2B
| $662K | 0.75% |
+5,591
| New | +$710K |
|
28
NNN REIT
NNN
$9.04B
| $605K | 0.69% |
+17,129
| New | +$687K |
|
29
COPT Defense Properties
CDP
$4.3B
| $604K | 0.69% |
25,350
-142,049
| -85% | -$3.59M |
|
30
Broadstone Net Lease
BNL
$4.11B
| $603K | 0.69% |
42,183
-59,510
| -59% | -$952K |
|
31
CubeSmart
CUBE
$9.39B
| $602K | 0.68% |
+15,793
| New | +$666K |
|
32
Healthcare Realty
HR
$7.28B
| $537K | 0.61% |
+35,147
| New | +$624K |
|
|
CSR
33
Centerspace
CSR
$921M
| $433K | 0.49% |
+7,190
| New | +$450K |
|
34
Acadia Realty Trust
AKR
$3.09B
| $417K | 0.47% |
+29,065
| New | +$440K |
|
35
Terreno Realty
TRNO
$7.57B
| $402K | 0.46% |
+7,071
| New | +$421K |
|
36
Americold
COLD
$4.02B
| $381K | 0.43% |
+12,532
| New | +$405K |
|
37
Empire State Realty Trust
ESRT
$872M
| $335K | 0.38% |
41,692
-143,618
| -78% | -$1.2M |
|
38
Iron Mountain
IRM
$36.4B
| $327K | 0.37% |
5,504
-28,686
| -84% | -$1.75M |
|
|
NSA
39
DELISTED
National Storage Affiliates Trust
NSA
| $258K | 0.29% |
+8,144
| New | +$276K |
|
40
Marriott International
MAR
$98.3B
| $201K | 0.23% |
1,025
-15,630
| -94% | -$3.1M |
|
41
IHS Holding
IHS
$2.76B
| $132K | 0.15% |
+23,753
| New | +$176K |
|
42
Alexandria Real Estate Equities
ARE
$8.97B
| – | – |
-40,950
| Closed | -$4.65M |
|
43
Boston Properties
BXP
$11.2B
| – | – |
-48,588
| Closed | -$2.8M |
|
44
EastGroup Properties
EGP
$11.2B
| – | – |
-35,328
| Closed | -$6.13M |
|
45
Equity Lifestyle Properties
ELS
$12.6B
| – | – |
-71,917
| Closed | -$4.81M |
|
46
Four Corners Property Trust
FCPT
$2.81B
| – | – |
-62,053
| Closed | -$1.58M |
|
47
Highwoods Properties
HIW
$3.65B
| – | – |
-97,354
| Closed | -$2.33M |
|
48
Host Hotels & Resorts
HST
$17.2B
| – | – |
-300,176
| Closed | -$5.05M |
|
49
Independence Realty Trust
IRT
$3.92B
| – | – |
-134,957
| Closed | -$2.46M |
|
|
50
Kimco Realty
KIM
$17.2B
| – | – |
-564,042
| Closed | -$11.1M |
|
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HGI Capital Management's Q3 2023 Portfolio in Review
As of Q3 2023, HGI Capital Management held 57 positions worth $88M, down 58% from $208M the previous quarter. Its ten largest holdings account for 51% of the portfolio.
HGI Capital Management withdrew a net $115M in Q3 2023, closing 16 positions and reducing 20 holdings. Its most notable exit was Kimco Realty, an estimated $11.1M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 95% of assets, down from 98% a quarter earlier, followed by Communication Services and Financials.
Against the trend, HGI Capital Management opened a new position in InvenTrust Properties worth $4.71M.
- HGI Capital Management's largest Q3 2023 buy was InvenTrust Properties: 197,781 shares worth $4.71M.
- HGI Capital Management added most to Six Flags Entertainment Corp. in Q3 2023, an estimated $1.82M increase.
- HGI Capital Management's biggest Q3 2023 reduction was Equity Residential, cutting an estimated $8.78M.
- HGI Capital Management fully exited Kimco Realty in Q3 2023, selling an estimated $11.1M.
- HGI Capital Management's ten largest holdings make up 51% of its $88M portfolio in Q3 2023.
- HGI Capital Management opened 19 new positions and closed 16 in Q3 2023.
- HGI Capital Management's portfolio value fell 58% quarter-over-quarter to $88M.
Based on HGI Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.