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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
+2.94%
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
$151M
AUM Growth
-$199M
(-57%)
Cap. Flow
-$203M
Cap. Flow
% of AUM
-134.3%
Top 10 Holdings %
Top 10 Hldgs %
62.29%
Holding
40
New
9
Increased
1
Reduced
16
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Prologis
PLD
|
+$13.6M |
| 2 |
Equinix
EQIX
|
+$9.25M |
| 3 |
NSA
National Storage Affiliates Trust
NSA
|
+$7M |
| 4 |
Invitation Homes
INVH
|
+$6.52M |
| 5 |
SBA Communications
SBAC
|
+$4.74M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Healthpeak Properties
DOC
|
+$22.6M |
| 2 |
LSI
Life Storage, Inc.
LSI
|
+$15.6M |
| 3 |
Boston Properties
BXP
|
+$15.4M |
| 4 |
Digital Realty Trust
DLR
|
+$15.3M |
| 5 |
VICI Properties
VICI
|
+$14.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 94.3% |
| 2 | Consumer Discretionary | 2.31% |
| 3 | Communication Services | 1.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Prologis
PLD
$138B
| $13.8M | 9.12% |
+110,540
| New | +$13.6M |
|
2
Equity Residential
EQR
$25.4B
| $12.4M | 8.2% |
206,829
+19,240
| +10% | +$1.18M |
|
3
Sun Communities
SUI
$15B
| $11.5M | 7.61% |
81,701
-94,269
| -54% | -$13.8M |
|
4
Welltower
WELL
$176B
| $10M | 6.61% |
139,491
-51,470
| -27% | -$3.73M |
|
5
Regency Centers
REG
$14.9B
| $9.54M | 6.31% |
155,947
-124,053
| -44% | -$7.8M |
|
|
6
Equinix
EQIX
$108B
| $9.47M | 6.26% |
+13,140
| New | +$9.25M |
|
7
Kimco Realty
KIM
$17.6B
| $7.85M | 5.19% |
402,062
-521,761
| -56% | -$10.7M |
|
|
NSA
8
DELISTED
National Storage Affiliates Trust
NSA
| $7.24M | 4.78% |
+173,180
| New | +$7M |
|
|
9
Invitation Homes
INVH
$17.6B
| $6.5M | 4.29% |
+208,002
| New | +$6.52M |
|
10
UDR
UDR
$12.8B
| $5.92M | 3.92% |
144,288
-10,453
| -7% | -$432K |
|
11
Agree Realty
ADC
$9.72B
| $5.42M | 3.58% |
78,997
-70,250
| -47% | -$5.02M |
|
|
12
VICI Properties
VICI
$29.4B
| $5.41M | 3.58% |
165,914
-424,999
| -72% | -$14.1M |
|
|
13
SBA Communications
SBAC
$18.5B
| $4.49M | 2.97% |
+17,209
| New | +$4.74M |
|
|
14
Digital Realty Trust
DLR
$75.3B
| $4.43M | 2.93% |
45,074
-144,973
| -76% | -$15.3M |
|
15
Host Hotels & Resorts
HST
$16.9B
| $4.3M | 2.84% |
260,588
-617,799
| -70% | -$10.5M |
|
16
Alexandria Real Estate Equities
ARE
$8.89B
| $3.77M | 2.49% |
30,010
-42,724
| -59% | -$6.28M |
|
17
Hilton Worldwide
HLT
$74.2B
| $3.49M | 2.31% |
+24,761
| New | +$3.49M |
|
18
Equity Lifestyle Properties
ELS
$12.9B
| $3.47M | 2.29% |
51,627
-13,365
| -21% | -$907K |
|
19
Independence Realty Trust
IRT
$3.9B
| $3.41M | 2.25% |
212,453
-547,553
| -72% | -$9.6M |
|
20
Brixmor Property Group
BRX
$9.96B
| $3.14M | 2.08% |
+146,143
| New | +$3.25M |
|
21
State Street SPDR S&P 500 ETF Trust
SPY
$780B
| $3.13M | 2.07% |
7,639
-10,833
| -59% | -$4.32M |
|
22
Rexford Industrial Realty
REXR
$8.88B
| $3.05M | 2.01% |
51,077
-210,496
| -80% | -$12.6M |
|
23
American Homes 4 Rent
AMH
$12B
| $2.27M | 1.5% |
72,104
-39,345
| -35% | -$1.26M |
|
|
SIX
24
DELISTED
Six Flags Entertainment Corp.
SIX
| $2.01M | 1.33% |
75,240
-32,374
| -30% | -$865K |
|
25
First Industrial Realty Trust
FR
$8.88B
| $1.89M | 1.25% |
+35,610
| New | +$1.86M |
|
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HGI Capital Management's Q1 2023 Portfolio in Review
As of Q1 2023, HGI Capital Management held 40 positions worth $151M, down 57% from $350M the previous quarter. Its ten largest holdings account for 62% of the portfolio.
HGI Capital Management withdrew a net $203M in Q1 2023, closing 13 positions and reducing 16 holdings. Its most notable exit was Healthpeak Properties, an estimated $22.6M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 94% of assets, down from 97% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, HGI Capital Management opened a new position in Prologis worth $13.8M.
- HGI Capital Management's largest Q1 2023 buy was Prologis: 110,540 shares worth $13.8M.
- HGI Capital Management added most to Equity Residential in Q1 2023, an estimated $1.18M increase.
- HGI Capital Management's biggest Q1 2023 reduction was Digital Realty Trust, cutting an estimated $15.3M.
- HGI Capital Management fully exited Healthpeak Properties in Q1 2023, selling an estimated $22.6M.
- HGI Capital Management's ten largest holdings make up 62% of its $151M portfolio in Q1 2023.
- HGI Capital Management opened 9 new positions and closed 13 in Q1 2023.
- HGI Capital Management's portfolio value fell 57% quarter-over-quarter to $151M.
Based on HGI Capital Management's 13F filing for Q1 2023, filed 15 May 2023.