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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
(-17%)
Cap. Flow
-$41.2M
Cap. Flow
% of AUM
-22.66%
Top 10 Holdings %
Top 10 Hldgs %
45.49%
Holding
78
New
11
Increased
19
Reduced
14
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equity Residential
EQR
|
+$8.94M |
| 2 |
Royal Caribbean
RCL
|
+$6.27M |
| 3 |
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 |
Camden Property Trust
CPT
|
+$9.21M |
| 2 |
ACC
American Campus Communities, Inc.
ACC
|
+$8.96M |
| 3 |
Norwegian Cruise Line
NCLH
|
+$7.39M |
| 4 |
Invitation Homes
INVH
|
+$6.06M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1
PUT
iShares US Real Estate ETF
IYR
$4.57B
| $14M | 7.71% |
150,000
+5,000
| +3% | +$455K |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $10.8M | 5.95% |
36,500
-38,500
| -51% | -$11.4M |
|
|
3
Equity Residential
EQR
$25.7B
| $9.43M | 5.18% |
+109,264
| New | +$8.94M |
|
|
4
VICI Properties
VICI
$29.4B
| $9.14M | 5.02% |
403,477
+285,151
| +241% | +$6.22M |
|
5
Kilroy Realty
KRC
$4.5B
| $7.45M | 4.1% |
95,685
+10,707
| +13% | +$830K |
|
|
WRI
6
DELISTED
Weingarten Realty Investors
WRI
| $6.85M | 3.77% |
235,273
+84,628
| +56% | +$2.34M |
|
7
Wyndham Hotels & Resorts
WH
$5.47B
| $6.84M | 3.76% |
132,208
+10,104
| +8% | +$552K |
|
|
LPT
8
DELISTED
Liberty Property Trust
LPT
| $6.23M | 3.43% |
121,415
+35,989
| +42% | +$1.85M |
|
|
9
Royal Caribbean
RCL
$78.3B
| $6.17M | 3.39% |
+56,965
| New | +$6.27M |
|
|
BRG
10
DELISTED
Bluerock Residential Growth REIT, Inc.
BRG
| $5.78M | 3.18% |
491,399
+34,837
| +8% | +$417K |
|
|
DRE
11
DELISTED
Duke Realty Corp.
DRE
| $5.44M | 2.99% |
160,061
-47,902
| -23% | -$1.59M |
|
12
JPMorgan Chase
JPM
$930B
| $4.93M | 2.71% |
41,936
-9,107
| -18% | -$1.03M |
|
13
Innovative Industrial Properties
IIPR
$1.8B
| $4.55M | 2.5% |
49,297
+2,272
| +5% | +$239K |
|
|
LSI
14
DELISTED
Life Storage, Inc.
LSI
| $4.22M | 2.32% |
+60,108
| New | +$4.09M |
|
|
AIV
15
Aimco
AIV
$381M
| $4.22M | 2.32% |
+607,481
| New | +$4.11M |
|
16
Public Storage
PSA
$59.6B
| $4.11M | 2.26% |
16,755
-7,457
| -31% | -$1.87M |
|
|
VRE
17
DELISTED
Veris Residential
VRE
| $4M | 2.2% |
184,579
+14,627
| +9% | +$325K |
|
18
Healthpeak Properties
DOC
$15.3B
| $3.9M | 2.14% |
109,321
+55,034
| +101% | +$1.86M |
|
19
Essential Properties Realty Trust
EPRT
$6.96B
| $3.89M | 2.14% |
+169,614
| New | +$3.65M |
|
|
SRC
20
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $3.83M | 2.11% |
80,125
-1,326
| -2% | -$60.7K |
|
21
Bank of America
BAC
$434B
| $3.47M | 1.91% |
119,059
-80,944
| -40% | -$2.33M |
|
|
RPAI
22
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $3.47M | 1.91% |
281,816
+175,241
| +164% | +$2.06M |
|
23
Mid-America Apartment Communities
MAA
$15.6B
| $3.26M | 1.79% |
+25,042
| New | +$3.11M |
|
|
QTS
24
DELISTED
QTS REALTY TRUST, INC.
QTS
| $3.24M | 1.78% |
63,003
+19,593
| +45% | +$932K |
|
25
American Homes 4 Rent
AMH
$12.1B
| $2.83M | 1.55% |
109,282
-107,847
| -50% | -$2.7M |
|
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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.