SEC 13F Intelligence

Managers / Q3 2021 · view latest →

HGI Capital Management, LLC

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

Reported Value
$248M
Q3 2021
Positions
64
Filings on Record
28
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Hgi Capital Management, LLC reported $248M in U.S.-listed holdings across 64 positions for Q3 2021.

Its largest position, ELS, represents 8.0% of the portfolio.

Compared with Q2 2021, the fund opened 15 new positions and exited 23.

Portfolio Metrics

Turnover
+29.8%
vs prior filed quarter
Top-10 Concentration
+43.7%
share of reported value
Largest Position
+8.0%
Equity Lifestyle Pptys
New / Exited
15 / 23
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: 71.0%Common Stock: 26.2%ADR: 1.5%Tracking Stk: 1.3%
  • REIT · 71.0% · $176M
  • Common Stock · 26.2% · $65M
  • ADR · 1.5% · $4M
  • Tracking Stk · 1.3% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DLRDIGITAL RLTY TR INCNEW+38.5K38.5K+$6M$6M
FRFIRST INDL RLTY TR INCNEW+89.3K89.3K+$5M$5M
DOCHEALTHPEAK PROPERTIES INCNEW+134.7K134.7K+$5M$5M
WPCWP CAREY INCNEW+61.7K61.7K+$5M$5M
CUZCOUSINS PPTYS INCNEW+97.2K97.2K+$4M$4M
HRUSDHEALTHCARE RLTY TRNEW+119.1K119.1K+$4M$4M
ESSESSEX PPTY TR INCNEW+11.1K11.1K+$4M$4M
BRXBRIXMOR PPTY GROUP INCNEW+158.7K158.7K+$4M$4M

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

Holdings — Q3 2021

64 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ELSEQUITY LIFESTYLE PPTYS INChistory →COM8.01%$20M254.2K
2MGPMGM GROWTH PPTYS LLChistory →CL A COM5.44%$13M352.1K
3CPTCAMDEN PPTY TRhistory →SH BEN INT4.65%$12M78.1K
4HSTHOST HOTELS & RESORTS INChistory →COM4.45%$11M676.0K
5KRCKILROY RLTY CORPhistory →COM4.28%$11M160.1K
6AMERICAN CAMPUS CMNTYS INCCOM4.26%$11M218.1K
7ABNBAIRBNB INChistory →COM CL A3.84%$10M56.7K
8VTRVENTAS INChistory →COM3.24%$8M145.3K
9DISDISNEY WALT COhistory →COM2.88%$7M42.2K
10AVBAVALONBAY CMNTYS INChistory →COM2.69%$7M30.1K
11AMZNAMAZON COM INChistory →COM2.33%$6M1.8K
12DLRDIGITAL RLTY TR INChistory →COM2.24%$6M38.5K
13NNNNATIONAL RETAIL PROPERTIES Ihistory →COM2.23%$6M127.8K
14PLNTPLANET FITNESS INChistory →CL A2.08%$5M65.7K
15APARTMENT INCOME REIT CORPCOM1.98%$5M100.4K
16NMRKNEWMARK GROUP INChistory →CL A1.93%$5M333.9K
17PSAPUBLIC STORAGEhistory →COM1.91%$5M15.9K
18FRFIRST INDL RLTY TR INChistory →COM1.88%$5M89.3K
19REXRREXFORD INDL RLTY INChistory →COM1.84%$5M80.3K
20DOCHEALTHPEAK PROPERTIES INChistory →COM1.82%$5M134.7K
21WPCWP CAREY INChistory →COM1.82%$5M61.7K
22VNOVORNADO RLTY TRhistory →SH BEN INT1.73%$4M101.8K
23SPIRIT RLTY CAP INC NEWCOM NEW1.68%$4M90.2K
24BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS1.49%$4M25.0K
25CUZCOUSINS PPTYS INChistory →COM NEW1.46%$4M97.2K
26HRUSDHEALTHCARE RLTY TRhistory →COM1.43%$4M119.1K
27ESSESSEX PPTY TR INChistory →COM1.43%$4M11.1K
28BRXBRIXMOR PPTY GROUP INChistory →COM1.42%$4M158.7K
29SITCSITE CTRS CORPhistory →COM1.39%$3M222.8K
30LIBERTY MEDIA CORP DELCOM C BRAVES GRP1.32%$3M124.0K
31SL GREEN RLTY CORPCOM1.29%$3M45.1K
32METAFACEBOOK INChistory →CL A1.26%$3M9.2K
33LEXINGTON REALTY TRUSTCOM1.26%$3M245.7K
34TNLTRAVEL PLUS LEISURE COhistory →COM1.19%$3M53.9K
35JPMJPMORGAN CHASE & COhistory →COM1.18%$3M17.9K
36VICIVICI PPTYS INChistory →COM1.14%$3M99.7K
37CALYCALLAWAY GOLF COhistory →COM1.07%$3M96.4K
38ZMZOOM VIDEO COMMUNICATIONS INhistory →CL A1.02%$3M9.7K
39PEBPEBBLEBROOK HOTEL TRCOM1.00%$2M110.5K
40MPTMEDICAL PPTYS TRUST INCCOM0.95%$2M117.3K
41SPLUNK INCCOM0.81%$2M13.8K
42CZRCAESARS ENTERTAINMENT INC NECOM0.78%$2M17.1K
43AZEKAZEK CO INCCL A0.75%$2M50.9K
44PS BUSINESS PKS INC CALIFCOM0.73%$2M11.5K
45BKOBLUEROCK RESIDENTIAL GWT REICOM CL A0.67%$2M129.4K
46GSGOLDMAN SACHS GROUP INCCOM0.59%$1M3.8K
47CDPCORPORATE OFFICE PPTYS TRSH BEN INT0.57%$1M52.4K
48EVERI HLDGS INCCOM0.56%$1M57.4K
49GAPGAP INCCOM0.56%$1M60.8K
50DRAFTKINGS INCCOM CL A0.54%$1M27.6K
51PYPLPAYPAL HLDGS INCCOM0.36%$898,0003.5K
52HIBBETT INCCOM0.33%$826,00011.7K
53ZGZILLOW GROUP INCCL A0.26%$641,0007.2K
54BKNGBOOKING HOLDINGS INCCOM0.26%$639,000269
55UBERUBER TECHNOLOGIES INCCOM0.25%$630,00014.1K
56ANGI INCCOM CL A NEW0.22%$545,00044.2K
57FLRFLUOR CORP NEWCOM0.22%$536,00033.5K
58MTCHMATCH GROUP INC NEWCOM0.21%$514,0003.3K
59FCXFREEPORT-MCMORAN INCCL B0.19%$481,00014.8K
60LUVSOUTHWEST AIRLS COCOM0.17%$414,0008.0K
61BACBK OF AMERICA CORPCOM0.15%$367,0008.6K
62MTNVAIL RESORTS INCCOM0.13%$320,000959
63BNLBROADSTONE NET LEASE INCCOM0.12%$287,00011.6K
64CRMDCORMEDIX INCCOM0.10%$243,00052.3K

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 ↗.