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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
+2.37%
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
$182M
AUM Growth
-$38.2M
Cap. Flow
-$41.2M
Cap. Flow %
-22.66%
Top 10 Hldgs %
45.49%
Holding
78
New
11
Increased
19
Reduced
14
Closed
18

Top Buys

Rank Stock Value
1
EQR icon
Equity Residential
EQR
+$8.94M
2
RCL icon
Royal Caribbean
RCL
+$6.27M
3
VICI icon
VICI Properties
VICI
+$6.22M
4
AIV
Aimco
AIV
+$4.11M
5
LSI
Life Storage, Inc.
LSI
+$4.09M

Top Sells

Rank Stock Value
1
CPT icon
Camden Property Trust
CPT
+$9.21M
2
ACC
American Campus Communities, Inc.
ACC
+$8.96M
3
NCLH icon
Norwegian Cruise Line
NCLH
+$7.39M
4
INVH icon
Invitation Homes
INVH
+$6.06M
5
AVB icon
AvalonBay Communities
AVB
+$5M

Sector Composition

Rank Sector Weight
1 Real Estate 59.41%
2 Consumer Discretionary 12.19%
3 Financials 6.27%
4 Communication Services 2.42%
5 Technology 0.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PFE icon
51
Pfizer
PFE
$142B
$359K 0.2%
10,540
– –
PYPL icon
52
PayPal
PYPL
$49.3B
$357K 0.2%
3,450
– –
ZG icon
53
Zillow
ZG
$7.79B
$355K 0.2%
12,000
-5,000
-29% -$198K
V icon
54
Visa
V
$684B
$328K 0.18%
1,904
– –
BATRK icon
55
Atlanta Braves Holdings Series B
BATRK
$3.26B
$314K 0.17%
11,300
– –
BA icon
56
Boeing
BA
$175B
$285K 0.16%
750
– –
CCL icon
57
Carnival Corporation Ltd
CCL
$38B
$271K 0.15%
+6,199
New +$286K
CGC
58
Canopy Growth
CGC
$388M
$268K 0.15%
1,170
– –
DIS icon
59
CALL
Walt Disney
DIS
$167B
$261K 0.14%
+2,000
New +$277K
STAY
60
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
$146K 0.08%
+10,000
New +$153K
AVB icon
61
AvalonBay Communities
AVB
$26.8B
– –
-24,615
Closed -$5M
CPT icon
62
Camden Property Trust
CPT
$11.2B
– –
-88,274
Closed -$9.21M
CUBE icon
63
CubeSmart
CUBE
$9.34B
– –
-126,687
Closed -$4.24M
DHC
64
Diversified Healthcare Trust
DHC
$2.17B
– –
-131,433
Closed -$1.09M
EPR icon
65
EPR Properties
EPR
$4.9B
– –
-48,698
Closed -$3.63M
EQIX icon
66
Equinix
EQIX
$103B
– –
-4,368
Closed -$2.2M
GS icon
67
CALL
Goldman Sachs
GS
$302B
– –
-1,000
Closed -$205K
IIPR icon
68
PUT
Innovative Industrial Properties
IIPR
$1.76B
– –
-29,200
Closed -$3.61M
INVH icon
69
Invitation Homes
INVH
$17.6B
– –
-226,659
Closed -$6.06M
NCLH icon
70
Norwegian Cruise Line
NCLH
$8.59B
– –
-137,867
Closed -$7.39M
NFLX icon
71
PUT
Netflix
NFLX
$305B
– –
-6,000
Closed -$220K
PEB icon
72
Pebblebrook Hotel Trust
PEB
$2.1B
– –
-96,665
Closed -$2.72M
SHO icon
73
Sunstone Hotel Investors
SHO
$2.18B
– –
-117,316
Closed -$1.61M
TWO
74
Two Harbors Investment
TWO
$1.27B
– –
-60,114
Closed -$3.05M
VTR icon
75
Ventas
VTR
$47.1B
– –
-58,351
Closed -$3.99M
1 2
3
4

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PI
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OC
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AM
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AECF
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BCA
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VM
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CC
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TCM
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HGI Capital Management's Q3 2019 Portfolio in Review

As of Q3 2019, HGI Capital Management held 78 positions worth $182M, down 17% from $220M the previous quarter. Its ten largest holdings account for 45% of the portfolio.

HGI Capital Management withdrew a net $41.2M in Q3 2019, closing 18 positions and reducing 14 holdings. Its most notable exit was Camden Property Trust, an estimated $9.21M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 59% of assets, up from 53% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, HGI Capital Management opened a new position in Equity Residential worth $9.43M.

  • HGI Capital Management's largest Q3 2019 buy was Equity Residential: 109,264 shares worth $9.43M.
  • HGI Capital Management added most to VICI Properties in Q3 2019, an estimated $6.22M increase.
  • HGI Capital Management's biggest Q3 2019 reduction was American Campus Communities, Inc., cutting an estimated $8.96M.
  • HGI Capital Management fully exited Camden Property Trust in Q3 2019, selling an estimated $9.21M.
  • HGI Capital Management's ten largest holdings make up 45% of its $182M portfolio in Q3 2019.
  • HGI Capital Management opened 11 new positions and closed 18 in Q3 2019.
  • HGI Capital Management's portfolio value fell 17% quarter-over-quarter to $182M.

Based on HGI Capital Management's 13F filing for Q3 2019, filed 5 Nov 2019.