SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Adelante Capital Management LLC

CIK 0001067926 · 1101 MARINA VILLAGE PARKWAY, SUITE 201, ALAMEDA, CA, 94501 · 510-986-2100

Reported Value
$2.0B
Q3 2021
Positions
44
Filings on Record
32
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Adelante Capital Management LLC reported $2.0B in U.S.-listed holdings across 44 positions for Q3 2021.

Its largest position, PLD, represents 10.6% of the portfolio.

Compared with Q2 2021, the fund opened 2 new positions and exited 2.

Portfolio Metrics

Turnover
+2.8%
vs prior filed quarter
Top-10 Concentration
+58.7%
share of reported value
Largest Position
+10.6%
Prologis
New / Exited
2 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.8BQ4 ’18Q1 ’19: $2.0BQ2 ’19: $1.9BQ3 ’19: $2.0BQ4 ’19: $2.0BQ4 ’19Q1 ’20: $1.6BQ2 ’20: $1.7BQ3 ’20: $1.7BQ4 ’20: $1.5BQ4 ’20Q1 ’21: $1.6BQ2 ’21: $1.9BQ3 ’21: $2.0BQ4 ’21: $2.3BQ4 ’21Q1 ’22: $2.0BQ2 ’22: $1.7BQ3 ’22: $1.3BQ1 ’23: $1MQ1 ’23Q2 ’23: $1MQ3 ’23: $1MQ4 ’23: $1MQ1 ’24: $2MQ1 ’24Q2 ’24: $1MQ3 ’24: $2MQ4 ’24: $2MQ1 ’25: $1MQ1 ’25Q2 ’25: $1MQ4 ’25: $1.5BQ1 ’26: $1.5Bfilingsflow.com

Portfolio Composition

By security type
REIT: 97.7%Other: 1.9%Common Stock: 0.4%
  • REIT · 97.7% · $1.9B
  • Other · 1.9% · $37M
  • Common Stock · 0.4% · $9M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ALEXAlexander & Baldwin IncNEW+381.1K381.1K+$9M$9M
JLLJones Lang Lasalle IncNEW+29.3K29.3K+$7M$7M
HTAEURHealthcare Trust of AmericaSOLD OUT−798.3K0−$21M$0
FQIDigital Realty TrustSOLD OUT−29.4K0−$4M$0
PSAPublic StorageADDED+34.6K112.5K+$10M$33M
ESSEssex Property Trust, Inc.ADDED+63.0K293.3K+$25M$94M
GMREUSDGlobal Medical REITADDED+177.9K912.9K+$3M$13M
Potlach CorpADDED+41.8K228.2K+$2M$12M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2021

44 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PLDProLogis Inc.history →COM10.61%$209M1.66M
2EQIXEquinix Inc.history →COM8.88%$175M221.3K
3WELLWelltower Inc.history →COM5.89%$116M1.41M
4EQREquity Residentialhistory →COM5.43%$107M1.32M
5EXRExtra Space Storage, Inc.history →COM4.98%$98M584.0K
6SPGSimon Property Group, Inc.history →COM4.92%$97M744.9K
7ESSEssex Property Trust, Inc.history →COM4.76%$94M293.3K
8CPTCamden Property Trusthistory →COM4.59%$90M612.5K
9DREUSDDuke Realty Corporationhistory →COM4.41%$87M1.81M
10INVHInvitation Homes Inchistory →COM4.25%$84M2.18M
11KIMKimco Realty Corp.history →COM3.91%$77M3.71M
12AREAlexandria Real Estate Equithistory →COM3.46%$68M356.1K
13ELSEquity Lifestyle Propertieshistory →COM2.98%$59M750.4K
14AMTAmerican Tower Corp.history →COM2.76%$54M204.7K
15Sun Communities, Inc.COM2.28%$45M242.0K
16KRCKilroy Realtyhistory →COM2.17%$43M643.8K
17VENVentas, Inc.history →COM2.14%$42M763.1K
18CUBECubesmarthistory →COM2.02%$40M821.2K
19AMHAmerican Homes 4 Renthistory →COM1.98%$39M1.02M
20BXPBoston Properties, Inc.history →COM1.74%$34M317.0K
21PSAPublic Storagehistory →COM1.70%$33M112.5K
22HIWHighwoods Properties, Inc.history →COM1.67%$33M747.5K
23RHPRyman Hospitality Propertieshistory →COM1.48%$29M347.1K
24COR1EURCoreSite Realty Corp.history →COM1.28%$25M182.0K
25Playa Hotels & ResortsCOM1.24%$24M2.94M
26XHRXenia Hotels & Resorts Inchistory →COM1.16%$23M1.28M
27EGPEastgroup Propertieshistory →COM1.14%$22M135.0K
28ROICUSDRetail Opportunity Investmenhistory →COM0.98%$19M1.11M
29FRTEURFederal Realty Investment Trhistory →COM0.86%$17M144.0K
30GMREUSDGlobal Medical REIThistory →COM0.68%$13M912.9K
31Mack-Cali Realty CorporationCOM0.63%$12M719.9K
32Potlach CorpCOM0.60%$12M228.2K
33LAMRLamar Advertising Co-Ahistory →COM0.52%$10M90.0K
34JBGSJBG Smith Propertieshistory →COM0.51%$10M338.6K
35ALEXAlexander & Baldwin IncCOM0.45%$9M381.1K
36JLLJones Lang Lasalle IncCOM0.37%$7M29.3K
378CWCrown Castle IncCOM0.11%$2M13.0K
38SBACSBA CommunicationsCOM0.09%$2M5.5K
39CUZCousins Properties, Inc.COM0.08%$2M44.5K
40ORealty IncomeCOM0.08%$2M25.3K
41HLTHilton, Inc.COM0.07%$1M10.9K
42MGM Growth PropertiesCOM0.06%$1M33.1K
43VICIVici PropertiesCOM0.05%$1M36.2K
44ACCUSDAmerican Campus CommunitiesCOM0.04%$697,00014.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.5B42May 18, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.5B42Feb 18, 202613F-HRchanges · EDGAR ↗
Q3 2025Under review43Nov 17, 202513F-HRchanges · EDGAR ↗
Q2 2025$1M42Aug 15, 202513F-HRchanges · EDGAR ↗
Q1 2025$1M41May 16, 202513F-HRchanges · EDGAR ↗
Q4 2024$2M42Feb 24, 2025RESTATEMENTchanges · EDGAR ↗
Q3 2024$2M42Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$1M42Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$2M43May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$1M44Feb 15, 202413F-HRchanges · EDGAR ↗
Q3 2023$1M44Nov 15, 202313F-HRchanges · EDGAR ↗
Q2 2023$1M45Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$1M44May 16, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review43Feb 15, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.3B44Nov 15, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.7B43Aug 17, 2022RESTATEMENTchanges · EDGAR ↗
Q1 2022$2.0B45May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.3B48Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$2.0B44Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.9B44Aug 17, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.6B35May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.5B39Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.7B38Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.7B39Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.6B37May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$2.0B38Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.0B37Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.9B36Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$2.0B38May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.8B45Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.