Adelante Capital Management LLC Concentrated Active

Location: Alameda, CA

CIK: 0001067926 · Show all filings

Period: Q4 2022 (← Previous) (Next →)

Filing Date: Feb 15, 2023

Total Value: $1.187B

Holdings (43)

EQIX Equinix Inc. 9.7%

Value $116M Shares 176,538 Est. Cost $363.16 Unrealized +59.4%

PSA Public Storage 7.5%

Value $88.55M Shares 316,045 Est. Cost $269.08 Unrealized -4.7%

WELL Welltower Inc. 6.9%

Value $81.76M Shares 1,247,259 Est. Cost $54.95 Unrealized +8.5%

EQR Equity Residential 6.8%

Value $80.9M Shares 1,371,208 Est. Cost $44.21 Unrealized +23.7%

EXR Extra Space Storage, Inc. 6.0%

Value $70.8M Shares 481,045 Est. Cost $59.22 Unrealized +135.1%

KIM Kimco Realty Corp. 5.9%

Value $70.26M Shares 3,317,338 Est. Cost $13.90 Unrealized +29.7%

SPG Simon Property Group, Inc. 5.6%

Value $66.37M Shares 564,930 Est. Cost $97.66 Unrealized -4.3%

ESS Essex Property Trust, Inc. 5.2%

Value $61.83M Shares 291,773 Est. Cost $203.90 Unrealized -5.4%

ELS Equity Lifestyle Properties 4.5%

Value $53.53M Shares 828,691 Est. Cost $60.60 Unrealized —

ARE Alexandria Real Estate Equit 4.5%

Value $52.96M Shares 363,551 Est. Cost $106.18 Unrealized +16.0%

CPT Camden Property Trust 4.3%

Value $51.41M Shares 459,488 Est. Cost $75.92 Unrealized +33.5%

INVH Invitation Homes Inc 3.4%

Value $40.21M Shares 1,356,665 Est. Cost $24.13 Unrealized +17.2%

AMH American Homes 4 Rent 3.2%

Value $38.41M Shares 1,274,192 Est. Cost $30.32 Unrealized —

BXP Boston Properties, Inc. 2.9%

Value $34.93M Shares 516,830 Est. Cost $86.42 Unrealized -32.0%

RHP Ryman Hospitality Properties 2.3%

Value $26.92M Shares 329,226 Est. Cost $54.96 Unrealized —

AVB AvalonBay Communities, Inc. 2.2%

Value $26.49M Shares 164,015 Est. Cost $172.63 Unrealized -12.2%

AMT American Tower Corp. 2.2%

Value $25.86M Shares 122,043 Est. Cost $131.73 Unrealized +41.7%

DLR Digital Realty Trust 1.9%

Value $22.25M Shares 221,941 Est. Cost $116.26 Unrealized -21.5%

— Playa Hotels & Resorts 1.8%

Value $21.64M Shares 3,314,291 Est. Cost $7.62 Unrealized —

KRC Kilroy Realty 1.8%

Value $21.28M Shares 550,376 Est. Cost $62.17 Unrealized —

MAR Marriott International-CL A 1.7%

Value $20.12M Shares 135,158 Est. Cost $149.19 Unrealized 0.0%

BRX Brixmor Property Group 1.5%

Value $18.32M Shares 808,086 Est. Cost $22.67 Unrealized —

MAA Mid-America Apartment Commun 1.1%

Value $12.48M Shares 79,525 Est. Cost $137.82 Unrealized 0.0%

ALEX Alexander & Baldwin Inc 1.0%

Value $12.12M Shares 647,170 Est. Cost $21.75 Unrealized —

HR Healthcare Realty Trust 1.0%

Value $11.31M Shares 587,170 Est. Cost $20.85 Unrealized —

EGP Eastgroup Properties 0.8%

Value $10.09M Shares 68,117 Est. Cost $142.32 Unrealized —

NTST Netstreit Corp 0.8%

Value $9.812M Shares 535,278 Est. Cost $17.92 Unrealized —

LAMR Lamar Advertising Co-A 0.8%

Value $9.299M Shares 98,510 Est. Cost $104.79 Unrealized —

FR First Industrial Realty Trus 0.7%

Value $8.738M Shares 181,062 Est. Cost $45.10 Unrealized —

REXR Rexford Industrial Realty 0.7%

Value $7.745M Shares 141,740 Est. Cost $54.64 Unrealized —

O Realty Income 0.3%

Value $3.646M Shares 57,480 Est. Cost $54.51 Unrealized -4.2%

VICI Vici Properties 0.3%

Value $3.476M Shares 107,285 Est. Cost $25.32 Unrealized +6.5%

SBAC SBA Communications 0.2%

Value $2.1M Shares 7,490 Est. Cost $286.19 Unrealized -7.9%

CCI Crown Castle Inc 0.1%

Value $1.335M Shares 9,845 Est. Cost $142.15 Unrealized -20.0%

PCH Potlach Corp 0.1%

Value $1.043M Shares 23,720 Est. Cost $49.41 Unrealized —

HLT Hilton, Inc. 0.1%

Value $1.024M Shares 8,101 Est. Cost $98.04 Unrealized +33.1%

FRT Federal Realty Investment Tr 0.1%

Value $788K Shares 7,796 Est. Cost $105.39 Unrealized -16.5%

IHS IHS Holdings LTD 0.1%

Value $664K Shares 107,965 Est. Cost $15.03 Unrealized -58.6%

CUZ Cousins Properties, Inc. 0.1%

Value $629K Shares 24,880 Est. Cost $30.27 Unrealized —

BNL Broadstone Net Lease 0.1%

Value $596K Shares 36,745 Est. Cost $21.61 Unrealized —

VTR Ventas, Inc. 0.0%

Value $0 Shares 865,575 Est. Cost $46.51 Unrealized -18.8%

PLD ProLogis Inc. 0.0%

Value $0 Shares 2,047,863 Est. Cost $60.64 Unrealized +65.2%

— Retail Opportunity Investmen 0.0%

Value $0 Shares 894,523 Est. Cost $15.64 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EQIX	Equinix Inc.	176,538	$116M	9.7%	$363.16	+59.4%	—	29444U700
PSA	Public Storage	316,045	$88.55M	7.5%	$269.08	-4.7%	—	74460D109
WELL	Welltower Inc.	1,247,259	$81.76M	6.9%	$54.95	+8.5%	—	95040Q104
EQR	Equity Residential	1,371,208	$80.9M	6.8%	$44.21	+23.7%	—	29476L107
EXR	Extra Space Storage, Inc.	481,045	$70.8M	6.0%	$59.22	+135.1%	—	30225T102
KIM	Kimco Realty Corp.	3,317,338	$70.26M	5.9%	$13.90	+29.7%	—	49446R109
SPG	Simon Property Group, Inc.	564,930	$66.37M	5.6%	$97.66	-4.3%	—	828806109
ESS	Essex Property Trust, Inc.	291,773	$61.83M	5.2%	$203.90	-5.4%	—	297178105
ELS	Equity Lifestyle Properties	828,691	$53.53M	4.5%	$60.60	—	—	29472R108
ARE	Alexandria Real Estate Equit	363,551	$52.96M	4.5%	$106.18	+16.0%	—	015271109
CPT	Camden Property Trust	459,488	$51.41M	4.3%	$75.92	+33.5%	—	133131102
INVH	Invitation Homes Inc	1,356,665	$40.21M	3.4%	$24.13	+17.2%	—	46187W107
AMH	American Homes 4 Rent	1,274,192	$38.41M	3.2%	$30.32	—	—	02665T306
BXP	Boston Properties, Inc.	516,830	$34.93M	2.9%	$86.42	-32.0%	—	101121101
RHP	Ryman Hospitality Properties	329,226	$26.92M	2.3%	$54.96	—	—	78377T107
AVB	AvalonBay Communities, Inc.	164,015	$26.49M	2.2%	$172.63	-12.2%	—	053484101
AMT	American Tower Corp.	122,043	$25.86M	2.2%	$131.73	+41.7%	—	03027X100
DLR	Digital Realty Trust	221,941	$22.25M	1.9%	$116.26	-21.5%	—	253868103
—	Playa Hotels & Resorts	3,314,291	$21.64M	1.8%	$7.62	—	—	N70544106
KRC	Kilroy Realty	550,376	$21.28M	1.8%	$62.17	—	—	49427F108
MAR	Marriott International-CL A	135,158	$20.12M	1.7%	$149.19	0.0%	—	571903202
BRX	Brixmor Property Group	808,086	$18.32M	1.5%	$22.67	—	—	11120U105
MAA	Mid-America Apartment Commun	79,525	$12.48M	1.1%	$137.82	0.0%	—	59522J103
ALEX	Alexander & Baldwin Inc	647,170	$12.12M	1.0%	$21.75	—	—	014491104
HR	Healthcare Realty Trust	587,170	$11.31M	1.0%	$20.85	—	—	42226K105
EGP	Eastgroup Properties	68,117	$10.09M	0.8%	$142.32	—	—	277276101
NTST	Netstreit Corp	535,278	$9.812M	0.8%	$17.92	—	—	64119V303
LAMR	Lamar Advertising Co-A	98,510	$9.299M	0.8%	$104.79	—	—	512816109
FR	First Industrial Realty Trus	181,062	$8.738M	0.7%	$45.10	—	—	32054K103
REXR	Rexford Industrial Realty	141,740	$7.745M	0.7%	$54.64	—	—	76169C100
O	Realty Income	57,480	$3.646M	0.3%	$54.51	-4.2%	—	756109104
VICI	Vici Properties	107,285	$3.476M	0.3%	$25.32	+6.5%	—	925652109
SBAC	SBA Communications	7,490	$2.1M	0.2%	$286.19	-7.9%	—	78410G104
CCI	Crown Castle Inc	9,845	$1.335M	0.1%	$142.15	-20.0%	—	22822V101
PCH	Potlach Corp	23,720	$1.043M	0.1%	$49.41	—	—	737630103
HLT	Hilton, Inc.	8,101	$1.024M	0.1%	$98.04	+33.1%	—	43300A203
FRT	Federal Realty Investment Tr	7,796	$788K	0.1%	$105.39	-16.5%	—	313745101
IHS	IHS Holdings LTD	107,965	$664K	0.1%	$15.03	-58.6%	—	G4701H109
CUZ	Cousins Properties, Inc.	24,880	$629K	0.1%	$30.27	—	—	222795502
BNL	Broadstone Net Lease	36,745	$596K	0.1%	$21.61	—	—	11135E203
VTR	Ventas, Inc.	865,575	$0	0.0%	$46.51	-18.8%	—	92276F100
PLD	ProLogis Inc.	2,047,863	$0	0.0%	$60.64	+65.2%	—	74340W103
—	Retail Opportunity Investmen	894,523	$0	0.0%	$15.64	—	—	76131N101