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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
+0.54%
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
$80.2M
AUM Growth
-$17M
Cap. Flow
-$16.9M
Cap. Flow %
-21.03%
Top 10 Hldgs %
62.92%
Holding
30
New
12
Increased
3
Reduced
7
Closed
8

Top Buys

Rank Stock Value
1
VICI icon
VICI Properties
VICI
+$5.79M
2
FR icon
First Industrial Realty Trust
FR
+$4.72M
3
WD icon
Walker & Dunlop
WD
+$4.46M
4
SLG icon
SL Green Realty
SLG
+$3.93M
5
ESS icon
Essex Property Trust
ESS
+$3.82M

Top Sells

Rank Stock Value
1
ELME
Elme Communities
ELME
+$32.7M
2
INVH icon
Invitation Homes
INVH
+$6.5M
3
COLD icon
Americold
COLD
+$4.68M
4
HST icon
Host Hotels & Resorts
HST
+$4.54M
5
CWK icon
Cushman & Wakefield Ltd
CWK
+$3.08M

Sector Composition

Rank Sector Weight
1 Real Estate 94.37%
2 Financials 5.31%
3 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EQR icon
1
Equity Residential
EQR
$25.5B
$6.92M 8.64%
96,699
-6,026
-6% -$426K
FR icon
2
First Industrial Realty Trust
FR
$8.88B
$6.69M 8.34%
123,928
+87,248
+238% +$4.72M
VICI icon
3
VICI Properties
VICI
$29.4B
$6.13M 7.65%
+187,878
New +$5.79M
VTR icon
4
Ventas
VTR
$48.8B
$6.07M 7.58%
88,337
-8,796
-9% -$562K
VRE
5
DELISTED
Veris Residential
VRE
$4.31M 5.38%
254,905
-11,802
-4% -$191K
WD icon
6
Walker & Dunlop
WD
$1.67B
$4.25M 5.31%
+49,817
New +$4.46M
NMRK icon
7
Newmark Group
NMRK
$2.75B
$4.25M 5.3%
348,841
+100,049
+40% +$1.33M
ESS icon
8
Essex Property Trust
ESS
$18.8B
$4.01M 5%
+13,078
New +$3.82M
CBRE icon
9
CBRE Group
CBRE
$40.8B
$3.95M 4.93%
30,186
+1,552
+5% +$211K
WSR
10
DELISTED
Whitestone REIT
WSR
$3.85M 4.81%
264,334
-159,406
-38% -$2.19M
SAFE
11
Safehold
SAFE
$1.18B
$3.68M 4.6%
+196,746
New +$3.46M
SLG icon
12
SL Green Realty
SLG
$3.92B
$3.6M 4.49%
+62,406
New +$3.93M
CPT icon
13
Camden Property Trust
CPT
$11.3B
$3.4M 4.24%
27,792
-17,339
-38% -$2.04M
VNO icon
14
Vornado Realty Trust
VNO
$7.51B
$3.22M 4.01%
+86,997
New +$3.5M
PSA icon
15
Public Storage
PSA
$60.1B
$3.16M 3.95%
+10,572
New +$3.16M
UDR icon
16
UDR
UDR
$12.8B
$3.04M 3.8%
+67,409
New +$2.89M
SUI icon
17
Sun Communities
SUI
$14.9B
$2.96M 3.69%
+22,990
New +$2.94M
PEB icon
18
Pebblebrook Hotel Trust
PEB
$2.17B
$2.01M 2.5%
198,041
-42,340
-18% -$518K
EXR icon
19
Extra Space Storage
EXR
$31.2B
$1.79M 2.23%
+12,028
New +$1.82M
AHRT
20
AH Realty Trust
AHRT
$533M
$1.69M 2.11%
+225,072
New +$2.04M
DRH icon
21
Diamondrock Hospitality Co
DRH
$2.63B
$909K 1.13%
117,754
-98,892
-46% -$835K
IYR icon
22
iShares US Real Estate ETF
IYR
$4.59B
$263K 0.33%
+2,751
New +$262K
COLD icon
23
Americold
COLD
$4.06B
– –
-218,640
Closed -$4.68M
CWK icon
24
Cushman & Wakefield Ltd
CWK
$3B
– –
-235,235
Closed -$3.08M
ELME
25
Elme Communities
ELME
$133M
– –
-2,141,094
Closed -$32.7M
1
2

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HGI Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, HGI Capital Management held 30 positions worth $80.2M, down 18% from $97.2M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

HGI Capital Management withdrew a net $16.9M in Q1 2025, closing 8 positions and reducing 7 holdings. Its most notable exit was Elme Communities, an estimated $32.7M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 94% of assets, down from 98% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, HGI Capital Management opened a new position in VICI Properties worth $6.13M.

  • HGI Capital Management's largest Q1 2025 buy was VICI Properties: 187,878 shares worth $6.13M.
  • HGI Capital Management added most to First Industrial Realty Trust in Q1 2025, an estimated $4.72M increase.
  • HGI Capital Management's biggest Q1 2025 reduction was Whitestone REIT, cutting an estimated $2.19M.
  • HGI Capital Management fully exited Elme Communities in Q1 2025, selling an estimated $32.7M.
  • HGI Capital Management's ten largest holdings make up 63% of its $80.2M portfolio in Q1 2025.
  • HGI Capital Management opened 12 new positions and closed 8 in Q1 2025.
  • HGI Capital Management's portfolio value fell 18% quarter-over-quarter to $80.2M.

Based on HGI Capital Management's 13F filing for Q1 2025, filed 14 May 2025.