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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
+4.12%
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
$145M
AUM Growth
-$89.8M
(-38%)
Cap. Flow
-$95.7M
Cap. Flow
% of AUM
-66.21%
Top 10 Holdings %
Top 10 Hldgs %
57.41%
Holding
78
New
13
Increased
13
Reduced
16
Closed
25
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ACC
American Campus Communities, Inc.
ACC
|
+$2.38M |
| 2 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$2.24M |
| 3 |
Kilroy Realty
KRC
|
+$2.08M |
| 4 |
AvalonBay Communities
AVB
|
+$1.87M |
| 5 |
CubeSmart
CUBE
|
+$1.31M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equity Residential
EQR
|
+$11.8M |
| 2 |
ILPT
Industrial Logistics Properties Trust
ILPT
|
+$3.72M |
| 3 |
Boston Properties
BXP
|
+$3.23M |
| 4 |
Starbucks
SBUX
|
+$2.65M |
| 5 |
BRG
Bluerock Residential Growth REIT, Inc.
BRG
|
+$2.38M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 28.11% |
| 2 | Financials | 8.2% |
| 3 | Consumer Discretionary | 7.41% |
| 4 | Healthcare | 1.36% |
| 5 | Technology | 1.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares US Real Estate ETF
IYR
$4.49B
| $22.1M | 15.31% |
276,500
-68,500
| -20% | -$5.59M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$777B
| $16M | 11.06% |
55,000
-55,600
| -50% | -$15.8M |
|
|
3
AvalonBay Communities
AVB
$27.3B
| $9.24M | 6.4% |
51,036
+10,458
| +26% | +$1.87M |
|
|
ACC
4
DELISTED
American Campus Communities, Inc.
ACC
| $7.2M | 4.98% |
174,816
+56,928
| +48% | +$2.38M |
|
|
ACC
5
PUT
DELISTED
American Campus Communities, Inc.
ACC
| $5.76M | 3.99% |
+140,000
| New | +$5.86M |
|
6
CALL
Norwegian Cruise Line
NCLH
$8.59B
| $5.74M | 3.97% |
+100,000
| New | +$5.18M |
|
7
JPMorgan Chase
JPM
$930B
| $4.42M | 3.06% |
39,197
+2,767
| +8% | +$314K |
|
|
VRE
8
CALL
DELISTED
Veris Residential
VRE
| $4.25M | 2.94% |
+200,000
| New | +$4.07M |
|
|
9
Kilroy Realty
KRC
$4.46B
| $4.23M | 2.92% |
58,955
+28,520
| +94% | +$2.08M |
|
10
Equinix
EQIX
$102B
| $4.03M | 2.79% |
9,309
+1,104
| +13% | +$483K |
|
|
ZAYO
11
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $3.93M | 2.72% |
113,264
+61,383
| +118% | +$2.24M |
|
|
BRG
12
DELISTED
Bluerock Residential Growth REIT, Inc.
BRG
| $3.71M | 2.57% |
378,463
-250,175
| -40% | -$2.38M |
|
13
Bank of America
BAC
$430B
| $3.56M | 2.46% |
120,812
+14,299
| +13% | +$435K |
|
|
ZAYO
14
CALL
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $3.47M | 2.4% |
+100,000
| New | +$3.65M |
|
15
SL Green Realty
SLG
$3.81B
| $3.35M | 2.32% |
35,463
-8,560
| -19% | -$845K |
|
16
PUT
Simon Property Group
SPG
$73B
| $3.2M | 2.21% |
18,100
| – | – |
|
|
17
Norwegian Cruise Line
NCLH
$8.59B
| $3.02M | 2.09% |
52,626
-14,219
| -21% | -$736K |
|
|
DRE
18
DELISTED
Duke Realty Corp.
DRE
| $2.94M | 2.04% |
103,790
-62,443
| -38% | -$1.79M |
|
|
19
Equity Residential
EQR
$25.6B
| $2.88M | 1.99% |
43,485
-179,042
| -80% | -$11.8M |
|
|
20
CubeSmart
CUBE
$9.29B
| $2.71M | 1.88% |
95,114
+43,013
| +83% | +$1.31M |
|
21
Amazon
AMZN
$2.51T
| $2.6M | 1.8% |
26,000
+2,000
| +8% | +$188K |
|
22
PUT
Omega Healthcare
OHI
$15.2B
| $2.41M | 1.67% |
+73,600
| New | +$2.34M |
|
23
Essential Properties Realty Trust
EPRT
$6.94B
| $2.12M | 1.47% |
149,577
-45,490
| -23% | -$640K |
|
24
Invitation Homes
INVH
$17.5B
| $2.08M | 1.44% |
90,585
-98,119
| -52% | -$2.28M |
|
25
Home Depot
HD
$324B
| $2.03M | 1.4% |
9,800
| – | – |
|
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HGI Capital Management's Q3 2018 Portfolio in Review
As of Q3 2018, HGI Capital Management held 78 positions worth $145M, down 38% from $234M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
HGI Capital Management withdrew a net $95.7M in Q3 2018, closing 25 positions and reducing 16 holdings. Its most notable exit was Industrial Logistics Properties Trust, an estimated $3.72M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 28% of assets, up from 23% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, HGI Capital Management opened a new position in Innovative Industrial Properties worth $1.51M.
- HGI Capital Management's largest Q3 2018 buy was Innovative Industrial Properties: 31,213 shares worth $1.51M.
- HGI Capital Management added most to American Campus Communities, Inc. in Q3 2018, an estimated $2.38M increase.
- HGI Capital Management's biggest Q3 2018 reduction was Equity Residential, cutting an estimated $11.8M.
- HGI Capital Management fully exited Industrial Logistics Properties Trust in Q3 2018, selling an estimated $3.72M.
- HGI Capital Management's ten largest holdings make up 57% of its $145M portfolio in Q3 2018.
- HGI Capital Management opened 13 new positions and closed 25 in Q3 2018.
- HGI Capital Management's portfolio value fell 38% quarter-over-quarter to $145M.
Based on HGI Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.