SEC 13F Intelligence

Managers / Q4 2021 · view latest →

HGI Capital Management, LLC

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

Reported Value
$279M
Q4 2021
Positions
70
Filings on Record
28
2019–present window
Filed
Feb 14, 2022
original filing

Summary

Hgi Capital Management, LLC reported $279M in U.S.-listed holdings across 70 positions for Q4 2021.

Its largest position, ELS, represents 7.0% of the portfolio.

Compared with Q3 2021, the fund opened 20 new positions and exited 14.

Portfolio Metrics

Turnover
+35.1%
vs prior filed quarter
Top-10 Concentration
+34.6%
share of reported value
Largest Position
+7.0%
Equity Lifestyle Pptys
New / Exited
20 / 14
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: 65.4%Common Stock: 23.3%ETP: 10.2%ADR: 0.6%Tracking Stk: 0.3%Other: 0.2%
  • REIT · 65.4% · $182M
  • Common Stock · 23.3% · $65M
  • ETP · 10.2% · $28M
  • ADR · 0.6% · $2M
  • Tracking Stk · 0.3% · $803,000
  • Other · 0.2% · $664,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPYSPDR S&P 500 ETF TRNEW+60.0K60.0K+$28M$28M
SUISUN CMNTYS INCNEW+46.5K46.5K+$10M$10M
SPGSIMON PPTY GROUP INC NEWNEW+50.3K50.3K+$8M$8M
EXREXTRA SPACE STORAGE INCNEW+32.1K32.1K+$7M$7M
STORE CAP CORPNEW+141.3K141.3K+$5M$5M
EQUITY COMWLTHNEW+151.1K151.1K+$4M$4M
WHWYNDHAM HOTELS & RESORTS INCNEW+42.6K42.6K+$4M$4M
LIFE STORAGE INCNEW+24.2K24.2K+$4M$4M

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

Holdings — Q4 2021

69 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ELSEQUITY LIFESTYLE PPTYS INChistory →COM6.96%$19M221.3K
2SUISUN CMNTYS INChistory →COM3.50%$10M46.5K
3SPIRIT RLTY CAP INC NEWCOM NEW3.41%$10M197.2K
4KRCKILROY RLTY CORPhistory →COM3.38%$9M142.0K
5AMERICAN CAMPUS CMNTYS INCCOM3.07%$9M149.6K
6ABNBAIRBNB INChistory →COM CL A3.01%$8M50.4K
7AVBAVALONBAY CMNTYS INChistory →COM2.90%$8M32.0K
8SPGSIMON PPTY GROUP INC NEWhistory →COM2.88%$8M50.3K
9MGPMGM GROWTH PPTYS LLChistory →CL A COM2.82%$8M192.4K
10LXP INDUSTRIAL TRUSTCOM2.66%$7M475.5K
11EXREXTRA SPACE STORAGE INChistory →COM2.61%$7M32.1K
12SITCSITE CTRS CORPhistory →COM2.50%$7M440.4K
13DISDISNEY WALT COhistory →COM2.36%$7M42.5K
14HSTHOST HOTELS & RESORTS INChistory →COM2.29%$6M367.6K
15APARTMENT INCOME REIT CORPCOM2.26%$6M115.3K
16MPTMEDICAL PPTYS TRUST INChistory →COM2.19%$6M258.9K
17AMZNAMAZON COM INChistory →COM2.11%$6M1.8K
18CPTCAMDEN PPTY TRhistory →SH BEN INT2.06%$6M32.1K
19REXRREXFORD INDL RLTY INChistory →COM2.04%$6M70.1K
20VICIVICI PPTYS INChistory →COM1.82%$5M168.5K
21VTRVENTAS INChistory →COM1.78%$5M97.0K
22STORE CAP CORPCOM1.74%$5M141.3K
23PEBPEBBLEBROOK HOTEL TRhistory →COM1.60%$4M199.2K
24SL GREEN RLTY CORPCOM1.55%$4M58.4K
25EQUITY COMWLTHCOM SH BEN INT1.40%$4M151.1K
26WHWYNDHAM HOTELS & RESORTS INChistory →COM1.37%$4M42.6K
27LIFE STORAGE INCCOM1.33%$4M24.2K
28BKOBLUEROCK RESIDENTIAL GWT REIhistory →COM CL A1.23%$3M129.4K
29HRUSDHEALTHCARE RLTY TRhistory →COM1.21%$3M106.5K
30KRGKITE RLTY GROUP TRhistory →COM NEW1.10%$3M140.4K
31HLTHILTON WORLDWIDE HLDGS INChistory →COM1.08%$3M19.4K
32METAMETA PLATFORMS INChistory →CL A1.08%$3M8.9K
33SHOSUNSTONE HOTEL INVS INC NEWhistory →COM1.08%$3M256.0K
34TNLTRAVEL PLUS LEISURE COhistory →COM1.01%$3M50.7K
35CALYCALLAWAY GOLF COCOM0.97%$3M98.8K
36ADCAGREE RLTY CORPCOM0.96%$3M37.5K
37TRNOTERRENO RLTY CORPCOM0.94%$3M30.6K
38IRTINDEPENDENCE RLTY TR INCCOM0.92%$3M99.0K
39JPMJPMORGAN CHASE & COCOM0.83%$2M14.6K
40AZEKAZEK CO INCCL A0.79%$2M47.7K
41NTSTNETSTREIT CORPCOM0.73%$2M88.6K
42WELLWELLTOWER INCCOM0.68%$2M22.0K
43NVDANVIDIA CORPORATIONCOM0.59%$2M5.6K
44SPLUNK INCCOM0.58%$2M13.9K
45BABAALIBABA GROUP HLDG LTDSPONSORED ADS0.57%$2M13.3K
46CDPCORPORATE OFFICE PPTYS TRSH BEN INT0.53%$1M52.4K
47PLNTPLANET FITNESS INCCL A0.50%$1M15.4K
48GSGOLDMAN SACHS GROUP INCCOM0.49%$1M3.6K
49SHOPSHOPIFY INCCL A0.42%$1M847
50PYPLPAYPAL HLDGS INCCOM0.38%$1M5.6K
51CZRCAESARS ENTERTAINMENT INC NECOM0.34%$953,00010.2K
52HIBBETT INCCOM0.30%$826,00011.5K
53LIBERTY MEDIA CORP DELCOM C BRAVES GRP0.29%$803,00028.6K
54UBERUBER TECHNOLOGIES INCCOM0.26%$724,00017.3K
55WEWORK INCCL A0.24%$664,00077.2K
56FCXFREEPORT-MCMORAN INCCL B0.21%$599,00014.4K
57EVERI HLDGS INCCOM0.21%$597,00027.9K
58ZMZOOM VIDEO COMMUNICATIONS INCL A0.21%$587,0003.2K
59FLRFLUOR CORP NEWCOM0.20%$547,00022.1K
60BKNGBOOKING HOLDINGS INCCOM0.19%$540,000225
61MTCHMATCH GROUP INC NEWCOM0.15%$408,0003.1K
62ZGZILLOW GROUP INCCL A0.14%$400,0006.4K
63ANGI INCCOM CL A NEW0.14%$393,00042.6K
64BACBK OF AMERICA CORPCOM0.13%$376,0008.4K
65TSLATESLA INCCOM0.12%$337,000319
66DRAFTKINGS INCCOM CL A0.11%$306,00011.1K
67MTNVAIL RESORTS INCCOM0.10%$290,000885
68LUVSOUTHWEST AIRLS COCOM0.10%$283,0006.6K
69CRMDCORMEDIX INCCOM0.08%$228,00050.1K

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 ↗.