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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
-1.56%
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
$73.8M
AUM Growth
-$6.36M
Cap. Flow
-$4.03M
Cap. Flow %
-5.46%
Top 10 Hldgs %
53.14%
Holding
32
New
10
Increased
6
Reduced
7
Closed
9

Top Buys

Rank Stock Value
1
DLR icon
Digital Realty Trust
DLR
+$3.95M
2
ESRT icon
Empire State Realty Trust
ESRT
+$3.79M
3
INVH icon
Invitation Homes
INVH
+$3.7M
4
HST icon
Host Hotels & Resorts
HST
+$3.33M
5
KRG icon
Kite Realty
KRG
+$3.32M

Top Sells

Rank Stock Value
1
WD icon
Walker & Dunlop
WD
+$4.25M
2
WSR
Whitestone REIT
WSR
+$3.85M
3
SAFE
Safehold
SAFE
+$3.68M
4
SLG icon
SL Green Realty
SLG
+$3.6M
5
VICI icon
VICI Properties
VICI
+$3.36M

Sector Composition

Rank Sector Weight
1 Real Estate 100%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UDR icon
1
UDR
UDR
$12.8B
$4.38M 5.94%
107,355
+39,946
+59% +$1.65M
DLR icon
2
Digital Realty Trust
DLR
$66.4B
$4.22M 5.71%
+24,179
New +$3.95M
ESRT icon
3
Empire State Realty Trust
ESRT
$941M
$4M 5.42%
+494,696
New +$3.79M
EQR icon
4
Equity Residential
EQR
$25.6B
$4M 5.42%
59,254
-37,445
-39% -$2.57M
PSA icon
5
Public Storage
PSA
$58.8B
$3.98M 5.39%
13,557
+2,985
+28% +$884K
EXR icon
6
Extra Space Storage
EXR
$30.7B
$3.98M 5.39%
26,977
+14,949
+124% +$2.18M
CBRE icon
7
CBRE Group
CBRE
$39.7B
$3.75M 5.08%
26,754
-3,432
-11% -$434K
ESS icon
8
Essex Property Trust
ESS
$18.8B
$3.74M 5.07%
13,207
+129
+1% +$36.2K
INVH icon
9
Invitation Homes
INVH
$17.5B
$3.61M 4.89%
+110,106
New +$3.7M
CPT icon
10
Camden Property Trust
CPT
$11.2B
$3.56M 4.82%
31,590
+3,798
+14% +$438K
NMRK icon
11
Newmark Group
NMRK
$2.67B
$3.56M 4.82%
292,757
-56,084
-16% -$627K
HST icon
12
Host Hotels & Resorts
HST
$16.4B
$3.45M 4.67%
+224,577
New +$3.33M
KRG icon
13
Kite Realty
KRG
$5.87B
$3.41M 4.62%
+150,618
New +$3.32M
VNO icon
14
Vornado Realty Trust
VNO
$7.34B
$3.39M 4.6%
88,686
+1,689
+2% +$63.2K
FR icon
15
First Industrial Realty Trust
FR
$8.79B
$3.22M 4.36%
66,835
-57,093
-46% -$2.78M
VTR icon
16
Ventas
VTR
$47.6B
$3.11M 4.22%
49,265
-39,072
-44% -$2.55M
ELS icon
17
Equity Lifestyle Properties
ELS
$12.8B
$2.93M 3.97%
+47,474
New +$3.03M
VICI icon
18
VICI Properties
VICI
$29B
$2.68M 3.64%
82,312
-105,566
-56% -$3.36M
PLD icon
19
Prologis
PLD
$135B
$2.31M 3.13%
+21,953
New +$2.3M
EQIX icon
20
Equinix
EQIX
$102B
$2.2M 2.98%
+2,762
New +$2.34M
ADC icon
21
Agree Realty
ADC
$9.59B
$1.91M 2.59%
+26,176
New +$1.97M
VRE
22
DELISTED
Veris Residential
VRE
$1.57M 2.13%
105,494
-149,411
-59% -$2.3M
RLJ icon
23
RLJ Lodging Trust
RLJ
$1.83B
$843K 1.14%
+115,818
New +$835K
AHRT
24
AH Realty Trust
AHRT
$526M
– –
-225,072
Closed -$1.69M
DRH icon
25
Diamondrock Hospitality Co
DRH
$2.59B
– –
-117,754
Closed -$909K
1
2

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HGI Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, HGI Capital Management held 32 positions worth $73.8M, down 7.9% from $80.2M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

HGI Capital Management withdrew a net $4.03M in Q2 2025, closing 9 positions and reducing 7 holdings. Its most notable exit was Walker & Dunlop, an estimated $4.25M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 100% of assets, up from 94% a quarter earlier, followed by Financials.

Against the trend, HGI Capital Management opened a new position in Digital Realty Trust worth $4.22M.

  • HGI Capital Management's largest Q2 2025 buy was Digital Realty Trust: 24,179 shares worth $4.22M.
  • HGI Capital Management added most to Extra Space Storage in Q2 2025, an estimated $2.18M increase.
  • HGI Capital Management's biggest Q2 2025 reduction was VICI Properties, cutting an estimated $3.36M.
  • HGI Capital Management fully exited Walker & Dunlop in Q2 2025, selling an estimated $4.25M.
  • HGI Capital Management's ten largest holdings make up 53% of its $73.8M portfolio in Q2 2025.
  • HGI Capital Management opened 10 new positions and closed 9 in Q2 2025.
  • HGI Capital Management's portfolio value fell 7.9% quarter-over-quarter to $73.8M.

Based on HGI Capital Management's 13F filing for Q2 2025, filed 12 Aug 2025.