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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
-10.66%
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
$117M
AUM Growth
-$27.5M
(-19%)
Cap. Flow
-$16.1M
Cap. Flow
% of AUM
-13.73%
Top 10 Holdings %
Top 10 Hldgs %
53.88%
Holding
63
New
10
Increased
9
Reduced
15
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Empire State Realty Trust
ESRT
|
+$3.9M |
| 2 |
LPT
Liberty Property Trust
LPT
|
+$3.45M |
| 3 |
Extra Space Storage
EXR
|
+$2.8M |
| 4 |
Newmark Group
NMRK
|
+$2.74M |
| 5 |
Innovative Industrial Properties
IIPR
|
+$2.09M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ACC
American Campus Communities, Inc.
ACC
|
+$3.95M |
| 2 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$3.93M |
| 3 |
SL Green Realty
SLG
|
+$3.35M |
| 4 |
CubeSmart
CUBE
|
+$2.71M |
| 5 |
Equity Residential
EQR
|
+$1.47M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 34.65% |
| 2 | Consumer Discretionary | 9.5% |
| 3 | Financials | 9.36% |
| 4 | Healthcare | 1.64% |
| 5 | Technology | 1.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares US Real Estate ETF
IYR
$4.58B
| $20.7M | 17.7% |
276,500
| – | – |
|
2
AvalonBay Communities
AVB
$27.3B
| $8.15M | 6.97% |
46,843
-4,193
| -8% | -$758K |
|
3
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
| $7.06M | 6.03% |
+87,000
| New | +$7.28M |
|
4
JPMorgan Chase
JPM
$930B
| $5.33M | 4.55% |
54,559
+15,362
| +39% | +$1.64M |
|
5
Equinix
EQIX
$108B
| $4.13M | 3.53% |
11,702
+2,393
| +26% | +$933K |
|
|
VRE
6
CALL
DELISTED
Veris Residential
VRE
| $3.92M | 3.35% |
200,000
| – | – |
|
|
7
Empire State Realty Trust
ESRT
$948M
| $3.55M | 3.03% |
+249,228
| New | +$3.9M |
|
|
8
Innovative Industrial Properties
IIPR
$1.79B
| $3.49M | 2.98% |
76,838
+45,625
| +146% | +$2.09M |
|
|
BRG
9
DELISTED
Bluerock Residential Growth REIT, Inc.
BRG
| $3.38M | 2.89% |
374,617
-3,846
| -1% | -$35.5K |
|
|
LPT
10
DELISTED
Liberty Property Trust
LPT
| $3.35M | 2.86% |
+79,891
| New | +$3.45M |
|
|
ACC
11
DELISTED
American Campus Communities, Inc.
ACC
| $3.29M | 2.82% |
79,608
-95,208
| -54% | -$3.95M |
|
12
Kilroy Realty
KRC
$4.5B
| $3.26M | 2.78% |
51,812
-7,143
| -12% | -$489K |
|
|
13
CALL
JPMorgan Chase
JPM
$930B
| $3.17M | 2.71% |
+32,500
| New | +$3.46M |
|
14
Invitation Homes
INVH
$17.6B
| $3.14M | 2.68% |
156,316
+65,731
| +73% | +$1.41M |
|
15
Home Depot
HD
$325B
| $2.84M | 2.42% |
16,508
+6,708
| +68% | +$1.2M |
|
|
16
Extra Space Storage
EXR
$31.2B
| $2.79M | 2.38% |
+30,819
| New | +$2.8M |
|
|
DRE
17
DELISTED
Duke Realty Corp.
DRE
| $2.67M | 2.28% |
103,260
-530
| -0.5% | -$14.7K |
|
18
PUT
Simon Property Group
SPG
$73.8B
| $2.6M | 2.22% |
15,500
-2,600
| -14% | -$465K |
|
19
Bank of America
BAC
$433B
| $2.52M | 2.16% |
102,448
-18,364
| -15% | -$498K |
|
20
Norwegian Cruise Line
NCLH
$8.78B
| $2.51M | 2.14% |
59,187
+6,561
| +12% | +$318K |
|
|
21
CALL
Bank of America
BAC
$433B
| $2.46M | 2.11% |
+100,000
| New | +$2.71M |
|
|
22
Newmark Group
NMRK
$2.7B
| $2.32M | 1.98% |
+289,708
| New | +$2.74M |
|
23
CALL
Goldman Sachs
GS
$315B
| $2.25M | 1.93% |
+13,500
| New | +$2.72M |
|
24
Marriott International
MAR
$97.5B
| $1.98M | 1.69% |
+18,193
| New | +$2.09M |
|
25
Amazon
AMZN
$2.5T
| $1.8M | 1.54% |
24,000
-2,000
| -8% | -$166K |
|
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HGI Capital Management's Q4 2018 Portfolio in Review
As of Q4 2018, HGI Capital Management held 63 positions worth $117M, down 19% from $145M the previous quarter. Its ten largest holdings account for 54% of the portfolio.
HGI Capital Management withdrew a net $16.1M in Q4 2018, closing 16 positions and reducing 15 holdings. Its most notable exit was Zayo Group Holdings, Inc., an estimated $3.93M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 35% of assets, up from 28% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, HGI Capital Management opened a new position in Empire State Realty Trust worth $3.55M.
- HGI Capital Management's largest Q4 2018 buy was Empire State Realty Trust: 249,228 shares worth $3.55M.
- HGI Capital Management added most to Innovative Industrial Properties in Q4 2018, an estimated $2.09M increase.
- HGI Capital Management's biggest Q4 2018 reduction was American Campus Communities, Inc., cutting an estimated $3.95M.
- HGI Capital Management fully exited Zayo Group Holdings, Inc. in Q4 2018, selling an estimated $3.93M.
- HGI Capital Management's ten largest holdings make up 54% of its $117M portfolio in Q4 2018.
- HGI Capital Management opened 10 new positions and closed 16 in Q4 2018.
- HGI Capital Management's portfolio value fell 19% quarter-over-quarter to $117M.
Based on HGI Capital Management's 13F filing for Q4 2018, filed 13 Feb 2019.