Q3 2025 · 13F-HR
Adelante Capital Management LLCholdings as filed
Filed 2025-11-17 · accession 0001067926-25-000009
$1.50B
Reported value
43
Positions
2025-09-30
Period end
The Brief · Adelante Capital Management LLC · Q3 2025
AI · grounded in 13F
Adelante Capital Management LLC increased its position in SPG by 22.10%. The fund also accumulated shares in DLR by 13.78% and PLD by 8.94%. On the sell side, the fund closed its positions in Hudson Pacific Properties and REG.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 95040Q104 | WELL | Welltower Inc. | $174.5M | 11.7% | 979,382 | Common | SOLE |
| 74340W103 | PLD | ProLogis Inc. | $145.7M | 9.74% | 1,272,288 | Common | SOLE |
| 29444U700 | EQIX | Equinix Inc. | $98.1M | 6.56% | 125,234 | Common | SOLE |
| 828806109 | SPG | Simon Property Group, Inc. | $84.3M | 5.64% | 449,344 | Common | SOLE |
| 253868103 | DLR | Digital Realty Trust | $80.1M | 5.35% | 463,235 | Common | SOLE |
| 756109104 | O | Realty Income | $69.0M | 4.61% | 1,135,259 | Common | SOLE |
| 74460D109 | PSA | Public Storage | $67.9M | 4.54% | 235,117 | Common | SOLE |
| 053484101 | AVB | AvalonBay Communities, Inc. | $65.7M | 4.40% | 340,288 | Common | SOLE |
| 29476L107 | EQR | Equity Residential | $56.8M | 3.80% | 878,252 | Common | SOLE |
| 925652109 | VICI | Vici Properties | $49.6M | 3.32% | 1,521,457 | Common | SOLE |
| 112463104 | BKD | Brookdale Senior Living | $47.0M | 3.14% | 1,013,181 | Common | NONE |
| 92276F100 | VTR | Ventas, Inc. | $46.3M | 3.10% | 661,909 | Common | SOLE |
| 49446R109 | KIM | Kimco Realty Corp. | $43.7M | 2.92% | 2,000,750 | Common | SOLE |
| 46284V101 | IRM | Iron Mountain | $39.4M | 2.63% | 386,285 | Common | SOLE |
| 29472R108 | ELS | Equity Lifestyle Properties | $38.5M | 2.57% | 634,055 | Common | SOLE |
| 008492100 | ADC | Agree Realty Corporation | $31.4M | 2.10% | 441,605 | Common | SOLE |
| 11120U105 | BRX | Brixmor Property Group | $30.8M | 2.06% | 1,113,830 | Common | SOLE |
| 02665T306 | AMH | American Homes 4 Rent | $30.3M | 2.03% | 912,001 | Common | SOLE |
| 42250P103 | DOC | Healthpeak Properties | $26.5M | 1.77% | 1,305,556 | Common | NONE |
| 44107P104 | HST | Host Hotels & Resorts, Inc. | $22.9M | 1.53% | 1,343,133 | Common | SOLE |
| 101121101 | BXP | BXP, Inc. | $21.2M | 1.42% | 285,339 | Common | SOLE |
| 32054K103 | FR | First Industrial Realty Trust, | $20.5M | 1.37% | 397,648 | Common | SOLE |
| 59522J103 | MAA | Mid-America Apartment Communit | $16.5M | 1.10% | 117,764 | Common | SOLE |
| 88146M101 | TRNO | Terreno Realty Corp | $16.1M | 1.07% | 283,173 | Common | NONE |
| 78377T107 | RHP | Ryman Hospitality Properties | $15.4M | 1.03% | 171,496 | Common | SOLE |
| 29670E107 | EPRT | Essential Properties Realty | $15.1M | 1.01% | 506,994 | Common | NONE |
| 929042109 | VNO | Vornado Realty Trust | $15.0M | 1.01% | 370,941 | Common | NONE |
| 46187W107 | INVH | Invitation Homes Inc | $14.0M | 0.94% | 478,893 | Common | NONE |
| 49427F108 | KRC | Kilroy Realty | $13.9M | 0.93% | 327,909 | Common | SOLE |
| 277276101 | EGP | Eastgroup Properties | $12.8M | 0.86% | 75,778 | Common | SOLE |
| 14174T107 | CTRE | Caretrust REIT Inc | $11.8M | 0.79% | 340,197 | Common | SOLE |
| 554489104 | VRE | Veris Residential, Inc. | $11.4M | 0.76% | 752,225 | Common | NONE |
| 03027X100 | AMT | American Tower Corp. | $11.1M | 0.74% | 57,567 | Common | SOLE |
| 46124J201 | IVT | Inventrust Properties | $9.6M | 0.64% | 335,032 | Common | NONE |
| 222795502 | CUZ | Cousins Properties, Inc. | $8.4M | 0.56% | 289,203 | Common | SOLE |
| 03064D108 | COLD | Americold Realty Trust | $7.0M | 0.47% | 574,892 | Common | NONE |
| 015271109 | ARE | Alexandria Real Estate Equitie | $6.0M | 0.40% | 72,405 | Common | SOLE |
| 512816109 | LAMR | Lamar Advertising Co-A | $5.9M | 0.39% | 47,825 | Common | SOLE |
| 30225T102 | EXR | Extra Space Storage, Inc. | $4.7M | 0.32% | 238,341 | Common | SOLE |
| 12504L109 | CBRE | CBRE Group | $4.2M | 0.28% | 26,465 | Common | SOLE |
| 22822V101 | CCI | Crown Castle Inc | $4.1M | 0.27% | 42,486 | Common | SOLE |
| 737630103 | PCH | Potlach Corp | $2.2M | 0.15% | 53,345 | Common | SOLE |
| 681936100 | OHI | Omega Healthcare Investors | $352,833 | 0.02% | 8,357 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.