Institutional Manager · CIK 0001067926
Adelante Capital Management LLC
ALAMEDA, CA · File #028-07246
Latest AUM
$1.48B
Positions
42
Top-10 Concentration
61.6%
Filings
10
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | Healthpeak Properties | 42250P103 | -1,305,556 | -$26.5M | $0 |
| EXITED | Host Hotels & Resorts, Inc. | 44107P104 | -1,343,133 | -$22.9M | $0 |
| NEW | Hilton, Inc. | HLT | +67,494 | +$19.4M | $0 |
| EXITED | Terreno Realty Corp | 88146M101 | -283,173 | -$16.1M | $0 |
| ADD | Alexandria Real Estate Equitie | 015271109 | +324,884 | +$15.9M | -$2.5M |
| REDUCE | BXP, Inc. | BXP | -209,976 | -$14.2M | -$2.0M |
| EXITED | Invitation Homes Inc | 46187W107 | -478,893 | -$14.0M | $0 |
| ADD | CBRE Group | CBRE | +82,629 | +$13.3M | +$85,367 |
| ADD | American Homes 4 Rent | AMH-PG | +388,346 | +$12.5M | -$1.0M |
| ADD | Vornado Realty Trust | 929042109 | +276,916 | +$9.2M | -$2.7M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202542 pos · $1.48B
- 13F HOLDINGS REPORTQ/E Sep 202543 pos · $1.50B
- 13F HOLDINGS REPORTQ/E Jun 202542 pos · $1.36B
- 13F HOLDINGS REPORTQ/E Mar 202541 pos · $1.3M
- 13F HOLDINGS REPORT (Amended)Q/E Dec 202442 pos · $1.5M
- 13F HOLDINGS REPORTQ/E Dec 202445 pos · $1.5M
- 13F HOLDINGS REPORTQ/E Sep 202442 pos · $2.1M
- 13F HOLDINGS REPORTQ/E Jun 202442 pos · $1.3M
- 13F HOLDINGS REPORTQ/E Mar 202443 pos · $1.5M
- 13F HOLDINGS REPORTQ/E Dec 202344 pos · $1.2M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 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% |