SEC 13F Intelligence

Managers / Q1 2021 · view latest →

HGI Capital Management, LLC

CIK 0001595907 · 51 WEST 52ND STREET, 19TH FLOOR, NEW YORK, NY, 10019 · 212-644-0515

Reported Value
$235M
Q1 2021
Positions
59
Filings on Record
28
2019–present window
Filed
May 17, 2021
original filing

Summary

Hgi Capital Management, LLC reported $235M in U.S.-listed holdings across 59 positions for Q1 2021.

Its largest position, ELS, represents 7.5% of the portfolio.

Compared with Q4 2020, the fund opened 18 new positions and exited 17.

Portfolio Metrics

Turnover
+29.8%
vs prior filed quarter
Top-10 Concentration
+44.3%
share of reported value
Largest Position
+7.5%
Equity Lifestyle Pptys
New / Exited
18 / 17
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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
Q1 ’19: $190MQ1 ’19Q2 ’19: $220MQ3 ’19: $182MQ4 ’19: $207MQ1 ’20: $106MQ1 ’20Q2 ’20: $162MQ3 ’20: $170MQ4 ’20: $214MQ1 ’21: $235MQ1 ’21Q2 ’21: $287MQ3 ’21: $248MQ4 ’21: $279MQ1 ’22: $324MQ1 ’22Q2 ’22: $239MQ3 ’22: $314MQ4 ’22: $350MQ1 ’23: $151MQ1 ’23Q2 ’23: $208MQ3 ’23: $88MQ4 ’23: $88MQ1 ’24: $93MQ1 ’24Q2 ’24: $107MQ3 ’24: $115MQ4 ’24: $97MQ1 ’25: $80MQ1 ’25Q2 ’25: $74MQ3 ’25: $36Mfilingsflow.com

Portfolio Composition

By security type
REIT: 70.1%Common Stock: 26.7%ADR: 1.5%Tracking Stk: 1.4%Other: 0.3%
  • REIT · 70.1% · $165M
  • Common Stock · 26.7% · $63M
  • ADR · 1.5% · $4M
  • Tracking Stk · 1.4% · $3M
  • Other · 0.3% · $692,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EQIXEQUINIX INCNEW+16.9K16.9K+$11M$11M
PSAPUBLIC STORAGENEW+25.2K25.2K+$6M$6M
AZEKAZEK CO INCNEW+126.6K126.6K+$5M$5M
AVBAVALONBAY CMNTYS INCNEW+26.6K26.6K+$5M$5M
TRNOTERRENO RLTY CORPNEW+75.4K75.4K+$4M$4M
HLTHILTON WORLDWIDE HLDGS INCNEW+25.8K25.8K+$3M$3M
SL GREEN RLTY CORPNEW+44.3K44.3K+$3M$3M
PDMPIEDMONT OFFICE REALTY TR INNEW+177.6K177.6K+$3M$3M

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

Holdings — Q1 2021

59 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ELSEQUITY LIFESTYLE PPTYS INChistory →COM7.53%$18M278.6K
2CPTCAMDEN PPTY TRhistory →SH BEN INT6.21%$15M133.1K
3MGPMGM GROWTH PPTYS LLChistory →CL A COM5.57%$13M402.2K
4VTRVENTAS INChistory →COM5.25%$12M231.8K
5EQIXEQUINIX INChistory →COM4.87%$11M16.9K
6DISDISNEY WALT COhistory →COM3.23%$8M41.2K
7HIWHIGHWOODS PPTYS INChistory →COM3.05%$7M167.0K
8NNNNATIONAL RETAIL PROPERTIES Ihistory →COM2.91%$7M155.5K
9JPMJPMORGAN CHASE & COhistory →COM2.88%$7M44.6K
10WYWEYERHAEUSER CO MTN BEhistory →COM NEW2.84%$7M188.2K
11PSAPUBLIC STORAGEhistory →COM2.64%$6M25.2K
12SUISUN CMNTYS INChistory →COM2.64%$6M41.4K
13ESRTEMPIRE ST RLTY TR INChistory →CL A2.45%$6M518.0K
14FNFFIDELITY NATIONAL FINANCIALhistory →FNF GROUP COM2.41%$6M139.6K
15VNOVORNADO RLTY TRhistory →SH BEN INT2.37%$6M122.8K
16AZEKAZEK CO INChistory →CL A2.26%$5M126.6K
17AMZNAMAZON COM INChistory →COM2.15%$5M1.6K
18AVBAVALONBAY CMNTYS INChistory →COM2.08%$5M26.6K
19KIMKIMCO RLTY CORPhistory →COM1.87%$4M234.9K
20TRNOTERRENO RLTY CORPhistory →COM1.85%$4M75.4K
21APARTMENT INCOME REIT CORPCOM1.79%$4M98.8K
22INVHINVITATION HOMES INChistory →COM1.65%$4M121.3K
23SPIRIT RLTY CAP INC NEWCOM NEW1.58%$4M87.3K
24PLNTPLANET FITNESS INChistory →CL A1.55%$4M47.3K
25BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS1.53%$4M15.8K
26LIBERTY MEDIA CORP DELCOM C BRAVES GRP1.44%$3M121.7K
27UDRUDR INChistory →COM1.42%$3M76.2K
28HRUSDHEALTHCARE RLTY TRhistory →COM1.37%$3M106.5K
29NMRKNEWMARK GROUP INChistory →CL A1.37%$3M321.8K
30HLTHILTON WORLDWIDE HLDGS INChistory →COM1.32%$3M25.8K
31SL GREEN RLTY CORPCOM1.32%$3M44.3K
32PDMPIEDMONT OFFICE REALTY TR INhistory →COM CL A1.31%$3M177.6K
33EXREXTRA SPACE STORAGE INChistory →COM1.20%$3M21.3K
34METAFACEBOOK INChistory →CL A1.17%$3M9.4K
35HSTHOST HOTELS & RESORTS INChistory →COM1.17%$3M164.0K
36GLOBAL MED REIT INCCOM NEW1.14%$3M205.2K
37CALYCALLAWAY GOLF COhistory →COM1.13%$3M99.4K
38VICIVICI PPTYS INChistory →COM1.12%$3M93.7K
39GSGOLDMAN SACHS GROUP INCCOM0.90%$2M6.5K
40SPLUNK INCCOM0.86%$2M14.9K
41CDPCORPORATE OFFICE PPTYS TRSH BEN INT0.85%$2M76.1K
42ZMZOOM VIDEO COMMUNICATIONS INCL A0.77%$2M5.7K
43DRAFTKINGS INCCOM CL A0.64%$2M24.5K
44THOTHOR INDS INCCOM0.47%$1M8.2K
45HIBBETT SPORTS INCCOM0.44%$1M15.2K
46MTNVAIL RESORTS INCCOM0.44%$1M3.6K
47PYPLPAYPAL HLDGS INCCOM0.36%$838,0003.5K
48HDHOME DEPOT INCCOM0.31%$727,0002.4K
49CBRE ACQUISITION HLDGS INCCOM CL A0.29%$692,00071.0K
50CVNACARVANA COCL A0.25%$597,0002.3K
51BACBK OF AMERICA CORPCOM0.24%$569,00014.7K
52ANGI INCCOM CL A NEW0.23%$540,00041.5K
53NTRNUTRIEN LTDCOM0.22%$512,0009.5K
54FLRFLUOR CORP NEWCOM0.22%$511,00022.1K
55EVERI HLDGS INCCOM0.20%$471,00033.4K
56GEOGEO GROUP INC NEWCOM0.19%$459,00059.1K
57LPXLOUISIANA PAC CORPCOM0.16%$384,0006.9K
58ZGZILLOW GROUP INCCL A0.16%$379,0002.9K
59CRMDCORMEDIX INCCOM0.14%$332,00033.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2025$36M21Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$74M23Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$80M22May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$97M18Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$115M17Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$107M19Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$93M43May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$88M40Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$88M41Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$208M38Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$151M27May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$350M31Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$314M35Feb 22, 2023RESTATEMENTchanges · EDGAR ↗
Q2 2022$239M33Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$324M66May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$279M70Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$248M64Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$287M72Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$235M59May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$214M58Feb 4, 202113F-HRchanges · EDGAR ↗
Q3 2020$170M54Oct 29, 202013F-HRchanges · EDGAR ↗
Q2 2020$162M52Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$106M51May 7, 202013F-HRchanges · EDGAR ↗
Q4 2019$207M63Feb 5, 202013F-HRchanges · EDGAR ↗
Q3 2019$182M60Nov 5, 201913F-HRchanges · EDGAR ↗
Q2 2019$220M67Jul 26, 201913F-HRchanges · EDGAR ↗
Q1 2019$190M58May 10, 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 ↗.