Institutional
Adelante Capital Management LLC
CIK 0001067926
$1.46B
Reported AUM
42
Positions
Q1 2026
Period
2026-05-18
Filed
The Brief · Adelante Capital Management LLC · Q1 2026
AI · grounded in 13F
Adelante Capital Management LLC closed its position in Veris Residential, Inc. VRE, reducing its exposure by $10.97M. The fund increased its stake in Essential Properties Realty by 58.06% and First Industrial Realty Trust FR by 14.88%. Other notable reductions include trimming positions in American Homes 4 Rent AMH by 30.48% and Vici Properties VICI by 17.10%.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Ticker | Issuer | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|
| 1 | WELL | Welltower Inc. | $203.5M | 13.91% | +23,149 | +2.3% |
| 2 | PLD | ProLogis Inc. | $174.7M | 11.95% | -8,415 | -0.6% |
| 3 | EQIX | Equinix Inc. | $128.6M | 8.79% | +3,434 | +2.7% |
| 4 | DLR | Digital Realty Trust | $86.2M | 5.89% | +1,866 | +0.4% |
| 5 | SPG | Simon Property Group, Inc. | $83.8M | 5.73% | -33,710 | -7.0% |
| 6 | O | Realty Income | $73.0M | 4.99% | -16,540 | -1.4% |
| 7 | AVB | AvalonBay Communities, Inc. | $53.1M | 3.63% | +7,271 | +2.3% |
| 8 | EQR | Equity Residential | $52.9M | 3.62% | +38,734 | +4.5% |
| 9 | VTR | Ventas, Inc. | $50.4M | 3.45% | -79,031 | -11.4% |
| 10 | BKD | Brookdale Senior Living | $47.6M | 3.26% | -61,153 | -5.6% |
| 11 | KIM | Kimco Realty Corp. | $42.8M | 2.93% | -73,574 | -3.7% |
| 12 | IRM | Iron Mountain | $36.5M | 2.49% | +17,707 | +5.2% |
| 13 | BRX | Brixmor Property Group | $36.2M | 2.48% | +691 | +0.1% |
| 14 | ELS | Equity Lifestyle Properties | $34.5M | 2.36% | -26,817 | -4.6% |
| 15 | VICI | Vici Properties | $33.8M | 2.31% | -254,801 | -17.1% |
| 16 | ADC | Agree Realty Corporation | $33.2M | 2.27% | +1,766 | +0.4% |
| 17 | FR | First Industrial Realty Trust, | $31.5M | 2.15% | +70,543 | +14.9% |
| 18 | AMH | American Homes 4 Rent | $25.2M | 1.73% | -396,348 | -30.5% |
| 19 | VNO | Vornado Realty Trust | $20.7M | 1.42% | +150,327 | +23.2% |
| 20 | RHP | Ryman Hospitality Properties | $20.2M | 1.38% | +34,451 | +18.7% |
| 21 | EPRT | Essential Properties Realty | $19.7M | 1.35% | +238,816 | +58.1% |
| 22 | MAA | Mid-America Apartment Communit | $19.1M | 1.30% | +40,404 | +34.9% |
| 23 | CBRE | CBRE Group | $17.9M | 1.22% | +23,000 | +21.1% |
| 24 | ARE | Alexandria Real Estate Equitie | $16.6M | 1.13% | -39,839 | -10.0% |
| 25 | CTRE | Caretrust REIT Inc | $12.9M | 0.88% | -39,473 | -10.1% |
| 26 | MRP | Millrose Properties | $12.4M | 0.85% | +223,423 | +101.3% |
| 27 | PSA | Public Storage | $11.2M | 0.77% | +24,232 | +10.0% |
| 28 | IVT | Inventrust Properties | $10.1M | 0.69% | +253 | +0.1% |
| 29 | AMT | American Tower Corp. | $9.4M | 0.64% | -2,551 | -4.5% |
| 30 | EGP | Eastgroup Properties | $8.8M | 0.60% | -20,570 | -30.3% |
| 31 | MAC | The Macerich Company | $8.1M | 0.56% | +430,485 | NEW |
| 32 | COLD | Americold Realty Trust | $7.7M | 0.53% | +671 | +0.1% |
| 33 | JAN | Janus Living Inc | $7.3M | 0.50% | +309,963 | NEW |
| 34 | LAMR | Lamar Advertising Co-A | $6.6M | 0.45% | +3,639 | +7.5% |
| 35 | SUI | Sun Communities, Inc. | $4.1M | 0.28% | +32,940 | NEW |
| 36 | CSR | Centerspace | $4.1M | 0.28% | +142 | +0.2% |
| 37 | BXP | BXP, Inc. | $4.1M | 0.28% | +3,000 | +4.0% |
| 38 | EXR | Extra Space Storage, Inc. | $3.9M | 0.27% | -25,271 | -11.4% |
| 39 | SLG | SL Green Realty Corp. | $3.9M | 0.27% | +8,135 | +8.4% |
| 40 | CCI | Crown Castle Inc | $3.2M | 0.22% | -1,964 | -4.8% |
| 41 | RYN | Rayonier Inc | $1.6M | 0.11% | +78,915 | NEW |
| 42 | HLT | Hilton, Inc. | $1.2M | 0.08% | -6,643 | -9.8% |
| 43 | VRE | Veris Residential, Inc. | — | — | -737,176 | EXITED |
| 44 | CUZ | Cousins Properties, Inc. | — | — | -285,108 | EXITED |
| 45 | KRC | Kilroy Realty | — | — | -136,904 | EXITED |
| 46 | PCH | Potlach Corp | — | — | -45,393 | EXITED |
Source: SEC EDGAR · accession 0001067926-26-000004. 13F discloses long positions only — shorts, foreign equities, and options are excluded.