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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
+0.25%
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
$157M
AUM Growth
+$52.3M
(+50%)
Cap. Flow
+$48.2M
Cap. Flow
% of AUM
30.68%
Top 10 Holdings %
Top 10 Hldgs %
56.78%
Holding
41
New
14
Increased
8
Reduced
6
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Homes 4 Rent
AMH
|
+$3.62M |
| 2 |
SL Green Realty
SLG
|
+$2.77M |
| 3 |
STAY
Extended Stay America, Inc. Paired Share Unit
STAY
|
+$2.39M |
| 4 |
DRE
Duke Realty Corp.
DRE
|
+$2.32M |
| 5 |
DCT
DCT Industrial Trust Inc.
DCT
|
+$2.22M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boston Properties
BXP
|
+$4.26M |
| 2 |
SFR
Starwood Waypoint Homes
SFR
|
+$3.72M |
| 3 |
SRC
SPIRIT REALTY CAPITAL, INC.
SRC
|
+$3.18M |
| 4 |
CubeSmart
CUBE
|
+$2.63M |
| 5 |
CHSP
Chesapeake Lodging Trust
CHSP
|
+$2.32M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 37.76% |
| 2 | Consumer Discretionary | 1.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares US Real Estate ETF
IYR
$4.49B
| $23M | 14.64% |
284,000
+137,500
| +94% | +$11.2M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$777B
| $19.4M | 12.33% |
72,600
+30,800
| +74% | +$8.01M |
|
3
Equity Residential
EQR
$25.6B
| $9.98M | 6.35% |
156,481
+28,964
| +23% | +$1.93M |
|
|
4
CALL
Equity Residential
EQR
$25.6B
| $6.38M | 4.06% |
100,000
+40,000
| +67% | +$2.67M |
|
|
GGP
5
CALL
DELISTED
GGP Inc.
GGP
| $5.71M | 3.63% |
+243,900
| New | +$5.43M |
|
|
PGRE
6
DELISTED
Paramount Group
PGRE
| $5.6M | 3.56% |
353,094
+66,293
| +23% | +$1.06M |
|
7
CALL
Bank of America
BAC
$430B
| $5.02M | 3.19% |
170,000
| – | – |
|
8
PUT
Realty Income
O
$60.4B
| $4.9M | 3.12% |
+88,752
| New | +$4.82M |
|
9
CALL
JPMorgan Chase
JPM
$930B
| $4.81M | 3.06% |
45,000
| – | – |
|
10
CALL
State Street Financial Select Sector SPDR ETF
XLF
$55.1B
| $4.47M | 2.84% |
160,000
| – | – |
|
|
11
SL Green Realty
SLG
$3.81B
| $4.31M | 2.74% |
44,113
+28,490
| +182% | +$2.77M |
|
12
RLJ Lodging Trust
RLJ
$1.83B
| $3.94M | 2.5% |
179,113
-45,371
| -20% | -$986K |
|
|
13
American Homes 4 Rent
AMH
$11.9B
| $3.64M | 2.32% |
+166,699
| New | +$3.62M |
|
14
Equinix
EQIX
$102B
| $3.62M | 2.31% |
7,994
-308
| -4% | -$143K |
|
|
LADR
15
Ladder Capital
LADR
$1.22B
| $3.58M | 2.28% |
262,705
+45,951
| +21% | +$629K |
|
16
CALL
State Street SPDR S&P Retail ETF
XRT
$363M
| $3.55M | 2.26% |
+78,500
| New | +$3.3M |
|
|
17
PUT
State Street SPDR S&P Retail ETF
XRT
$363M
| $3.55M | 2.26% |
+78,500
| New | +$3.3M |
|
|
MGP
18
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| $3.51M | 2.23% |
120,330
-5,358
| -4% | -$157K |
|
|
19
CALL
Boston Properties
BXP
$10.8B
| $3.45M | 2.19% |
+26,500
| New | +$3.32M |
|
|
STOR
20
DELISTED
STORE Capital Corporation
STOR
| $3.3M | 2.1% |
126,618
-34,849
| -22% | -$892K |
|
|
21
CALL
SL Green Realty
SLG
$3.81B
| $3.28M | 2.09% |
+33,573
| New | +$3.27M |
|
|
22
CALL
Equinix
EQIX
$102B
| $3.17M | 2.02% |
+7,000
| New | +$3.24M |
|
|
23
CubeSmart
CUBE
$9.29B
| $3.03M | 1.93% |
104,729
-94,048
| -47% | -$2.63M |
|
24
Kilroy Realty
KRC
$4.46B
| $2.85M | 1.81% |
38,187
+8,936
| +31% | +$657K |
|
|
25
PUT
Bank of America
BAC
$430B
| $2.51M | 1.6% |
85,000
| – | – |
|
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HGI Capital Management's Q4 2017 Portfolio in Review
As of Q4 2017, HGI Capital Management held 41 positions worth $157M, up 50% from $105M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
HGI Capital Management deployed $48.2M of net new capital in Q4 2017, opening 14 new positions and adding to 8 existing holdings. Its largest new stake was American Homes 4 Rent: 166,699 shares worth $3.64M.
By sector, the portfolio is most concentrated in Real Estate at 38% of assets, down from 55% a quarter earlier, followed by Consumer Discretionary.
On the sell side, the largest reduction was CubeSmart, an estimated $2.63M trimmed.
- HGI Capital Management's largest Q4 2017 buy was American Homes 4 Rent: 166,699 shares worth $3.64M.
- HGI Capital Management added most to SL Green Realty in Q4 2017, an estimated $2.77M increase.
- HGI Capital Management's biggest Q4 2017 reduction was CubeSmart, cutting an estimated $2.63M.
- HGI Capital Management fully exited Boston Properties in Q4 2017, selling an estimated $4.26M.
- HGI Capital Management's ten largest holdings make up 57% of its $157M portfolio in Q4 2017.
- HGI Capital Management opened 14 new positions and closed 8 in Q4 2017.
- HGI Capital Management's portfolio value rose 50% quarter-over-quarter to $157M.
Based on HGI Capital Management's 13F filing for Q4 2017, filed 13 Feb 2018.