SEC 13F Intelligence

Managers / Q2 2021 · view latest →

HGI Capital Management, LLC

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

Reported Value
$287M
Q2 2021
Positions
72
Filings on Record
28
2019–present window
Filed
Aug 16, 2021
original filing

Summary

Hgi Capital Management, LLC reported $287M in U.S.-listed holdings across 72 positions for Q2 2021.

Its largest position, ELS, represents 6.8% of the portfolio.

Compared with Q1 2021, the fund opened 22 new positions and exited 9.

Portfolio Metrics

Turnover
+22.9%
vs prior filed quarter
Top-10 Concentration
+36.2%
share of reported value
Largest Position
+6.8%
Equity Lifestyle Pptys
New / Exited
22 / 9
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: 61.9%Common Stock: 25.2%ETP: 9.8%ADR: 1.7%Tracking Stk: 1.2%Other: 0.3%
  • REIT · 61.9% · $178M
  • Common Stock · 25.2% · $72M
  • ETP · 9.8% · $28M
  • ADR · 1.7% · $5M
  • Tracking Stk · 1.2% · $3M
  • Other · 0.3% · $948,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IYRISHARES TRNEW+275.0K275.0K+$28M$28M
WFGWEST FRASER TIMBER CO LTDNEW+77.0K77.0K+$6M$6M
ADCAGREE RLTY CORPNEW+75.1K75.1K+$5M$5M
REGREGENCY CTRS CORPNEW+75.5K75.5K+$5M$5M
RETAIL OPPORTUNITY INVTS CORNEW+270.0K270.0K+$5M$5M
AMERICAN CAMPUS CMNTYS INCNEW+96.0K96.0K+$4M$4M
RHPRYMAN HOSPITALITY PPTYS INCNEW+43.6K43.6K+$3M$3M
MPTMEDICAL PPTYS TRUST INCNEW+170.2K170.2K+$3M$3M

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

Holdings — Q2 2021

71 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ELSEQUITY LIFESTYLE PPTYS INChistory →COM6.77%$19M261.5K
2MGPMGM GROWTH PPTYS LLChistory →CL A COM4.70%$13M368.4K
3CPTCAMDEN PPTY TRhistory →SH BEN INT4.58%$13M99.1K
4VTRVENTAS INChistory →COM4.03%$12M202.5K
5VNOVORNADO RLTY TRhistory →SH BEN INT3.26%$9M200.9K
6AVBAVALONBAY CMNTYS INChistory →COM3.04%$9M41.9K
7DISDISNEY WALT COhistory →COM2.92%$8M47.7K
8SPIRIT RLTY CAP INC NEWCOM NEW2.64%$8M158.4K
9ESRTEMPIRE ST RLTY TR INChistory →CL A2.16%$6M518.0K
10AMZNAMAZON COM INChistory →COM2.14%$6M1.8K
11NNNNATIONAL RETAIL PROPERTIES Ihistory →COM2.11%$6M129.5K
12INVHINVITATION HOMES INChistory →COM1.93%$6M148.7K
13WFGWEST FRASER TIMBER CO LTDhistory →COM1.92%$6M77.0K
14HSTHOST HOTELS & RESORTS INChistory →COM1.86%$5M312.8K
15ADCAGREE RLTY CORPhistory →COM1.84%$5M75.1K
16PSAPUBLIC STORAGEhistory →COM1.79%$5M17.1K
17REGREGENCY CTRS CORPhistory →COM1.68%$5M75.5K
18RETAIL OPPORTUNITY INVTS CORCOM1.66%$5M270.0K
19BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS1.65%$5M21.0K
20APARTMENT INCOME REIT CORPCOM1.60%$5M96.9K
21AMERICAN CAMPUS CMNTYS INCCOM1.56%$4M96.0K
22FNFFIDELITY NATIONAL FINANCIALhistory →FNF GROUP COM1.46%$4M96.4K
23TRNOTERRENO RLTY CORPhistory →COM1.44%$4M64.1K
24NMRKNEWMARK GROUP INChistory →CL A1.35%$4M321.8K
25SL GREEN RLTY CORPCOM1.23%$4M44.0K
26LIBERTY MEDIA CORP DELCOM C BRAVES GRP1.22%$3M125.7K
27PLNTPLANET FITNESS INChistory →CL A1.21%$3M46.0K
28RHPRYMAN HOSPITALITY PPTYS INChistory →COM1.20%$3M43.6K
29MPTMEDICAL PPTYS TRUST INChistory →COM1.19%$3M170.2K
30HIWHIGHWOODS PPTYS INChistory →COM1.18%$3M74.8K
31METAFACEBOOK INChistory →CL A1.16%$3M9.6K
32TNLTRAVEL PLUS LEISURE COhistory →COM1.13%$3M54.6K
33CALYCALLAWAY GOLF COhistory →COM1.12%$3M95.8K
34ZMZOOM VIDEO COMMUNICATIONS INhistory →CL A1.10%$3M8.2K
35JPMJPMORGAN CHASE & COhistory →COM1.10%$3M20.3K
36VICIVICI PPTYS INChistory →COM1.01%$3M93.7K
37KRCKILROY RLTY CORPhistory →COM1.01%$3M41.5K
38LEXINGTON REALTY TRUSTCOM0.99%$3M236.8K
39EQUITY COMWLTHCOM SH BEN INT0.97%$3M106.1K
40UDRUDR INCCOM0.95%$3M55.7K
41REXRREXFORD INDL RLTY INCCOM0.85%$2M42.7K
42CDPCORPORATE OFFICE PPTYS TRSH BEN INT0.84%$2M86.2K
43AZEKAZEK CO INCCL A0.80%$2M54.3K
44WYWEYERHAEUSER CO MTN BECOM NEW0.76%$2M63.7K
45SPLUNK INCCOM0.72%$2M14.3K
46GSGOLDMAN SACHS GROUP INCCOM0.65%$2M5.0K
47DRHDIAMONDROCK HOSPITALITY COCOM0.60%$2M178.8K
48PS BUSINESS PKS INC CALIFCOM0.60%$2M11.5K
49DRAFTKINGS INCCOM CL A0.50%$1M27.3K
50BNLBROADSTONE NET LEASE INCCOM0.43%$1M52.5K
51HIBBETT INCCOM0.42%$1M13.6K
52FLRFLUOR CORP NEWCOM0.42%$1M68.0K
53HEALTHCARE TR AMER INCCL A NEW0.40%$1M43.4K
54EVERI HLDGS INCCOM0.39%$1M45.2K
55MTNVAIL RESORTS INCCOM0.39%$1M3.6K
56PYPLPAYPAL HLDGS INCCOM0.35%$1M3.5K
57THOTHOR INDS INCCOM0.34%$964,0008.5K
58CBRE ACQUISITION HLDGS INCCOM CL A0.33%$948,00097.6K
59ABNBAIRBNB INCCOM CL A0.32%$927,0006.1K
60FCXFREEPORT-MCMORAN INCCL B0.25%$715,00019.3K
61HDHOME DEPOT INCCOM0.24%$686,0002.1K
62CVNACARVANA COCL A0.24%$684,0002.3K
63ZGZILLOW GROUP INCCL A0.23%$669,0005.5K
64ANGI INCCOM CL A NEW0.20%$585,00043.3K
65NTRNUTRIEN LTDCOM0.20%$563,0009.3K
66MTCHMATCH GROUP INC NEWCOM0.18%$516,0003.2K
67LPXLOUISIANA PAC CORPCOM0.17%$476,0007.9K
68DALDELTA AIR LINES INC DELCOM NEW0.16%$458,00010.6K
69BACBK OF AMERICA CORPCOM0.15%$433,00010.5K
70UBERUBER TECHNOLOGIES INCCOM0.13%$374,0007.5K
71CRMDCORMEDIX INCCOM0.12%$341,00049.7K

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 ↗.