13F HOLDINGS REPORT
Adelante Capital Management LLC
Quarter ended Q4 2025 · Filed February 18, 2026 · Accession 0001067926-26-000003
Total Value
$1.48B
Positions
42
Other Managers
0
Confidential Omitted
No
Holdings (42)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Welltower Inc. | WELL | 1,005,930 | $186.7M | 12.58% |
| 2 | ProLogis Inc. | PLDGP | 1,330,380 | $169.8M | 11.44% |
| 3 | Equinix Inc. | EQIX | 127,773 | $97.9M | 6.60% |
| 4 | Simon Property Group, Inc. | 828806109 | 483,043 | $89.4M | 6.03% |
| 5 | Digital Realty Trust | 253868103 | 476,430 | $73.7M | 4.97% |
| 6 | Realty Income | O | 1,210,086 | $68.2M | 4.60% |
| 7 | Public Storage | PSA-PS | 241,215 | $62.6M | 4.22% |
| 8 | AvalonBay Communities, Inc. | AWX | 317,906 | $57.6M | 3.88% |
| 9 | Equity Residential | EQR | 855,472 | $53.9M | 3.63% |
| 10 | Ventas, Inc. | VTR | 695,237 | $53.8M | 3.62% |
| 11 | Brookdale Senior Living | 112463104 | 1,088,545 | $50.5M | 3.40% |
| 12 | Vici Properties | 925652109 | 1,490,427 | $41.9M | 2.82% |
| 13 | American Homes 4 Rent | AMH-PG | 1,300,347 | $41.7M | 2.81% |
| 14 | Kimco Realty Corp. | 49446R109 | 1,979,607 | $40.1M | 2.70% |
| 15 | Equity Lifestyle Properties | 29472R108 | 579,880 | $35.1M | 2.37% |
| 16 | Brixmor Property Group | 11120U105 | 1,256,794 | $33.0M | 2.22% |
| 17 | Agree Realty Corporation | 008492100 | 438,415 | $31.6M | 2.13% |
| 18 | Extra Space Storage, Inc. | EXR | 221,431 | $28.8M | 1.94% |
| 19 | Iron Mountain | 46284V101 | 339,227 | $28.1M | 1.90% |
| 20 | Vornado Realty Trust | 929042109 | 647,857 | $21.6M | 1.45% |
| 21 | Alexandria Real Estate Equitie | 015271109 | 397,289 | $19.4M | 1.31% |
| 22 | Hilton, Inc. | HLT | 67,494 | $19.4M | 1.31% |
| 23 | CBRE Group | CBRE | 109,094 | $17.5M | 1.18% |
| 24 | Ryman Hospitality Properties | 78377T107 | 184,398 | $17.4M | 1.18% |
| 25 | Mid-America Apartment Communit | 59522J103 | 115,761 | $16.1M | 1.08% |
| 26 | Caretrust REIT Inc | CTRE | 391,935 | $14.2M | 0.95% |
| 27 | Eastgroup Properties | 277276101 | 67,903 | $12.1M | 0.82% |
| 28 | Veris Residential, Inc. | VRE | 737,176 | $11.0M | 0.74% |
| 29 | American Tower Corp. | 03027X100 | 56,840 | $10.0M | 0.67% |
| 30 | First Industrial Realty Trust, | 32054K103 | 474,066 | $9.6M | 0.65% |
| 31 | Inventrust Properties | 46124J201 | 329,783 | $9.3M | 0.63% |
| 32 | Americold Realty Trust | COLD | 670,301 | $8.6M | 0.58% |
| 33 | Essential Properties Realty | 29670E107 | 411,313 | $8.1M | 0.55% |
| 34 | Cousins Properties, Inc. | 222795502 | 285,108 | $7.3M | 0.50% |
| 35 | Millrose Properties | 601137102 | 220,567 | $6.6M | 0.44% |
| 36 | Lamar Advertising Co-A | LAMR | 48,651 | $6.2M | 0.41% |
| 37 | Kilroy Realty | 49427F108 | 136,904 | $5.1M | 0.34% |
| 38 | BXP, Inc. | BXP | 75,363 | $5.1M | 0.34% |
| 39 | Centerspace | CSR | 72,059 | $4.8M | 0.32% |
| 40 | SL Green Realty Corp. | 78440X887 | 96,825 | $4.4M | 0.30% |
| 41 | Crown Castle Inc | CCI | 40,940 | $3.6M | 0.25% |
| 42 | Potlach Corp | 737630103 | 45,393 | $1.9M | 0.13% |