SEC 13F Intelligence

Managers / Q1 2022 · view latest →

HGI Capital Management, LLC

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

Reported Value
$324M
Q1 2022
Positions
66
Filings on Record
28
2019–present window
Filed
May 16, 2022
original filing

Summary

Hgi Capital Management, LLC reported $324M in U.S.-listed holdings across 66 positions for Q1 2022.

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

Compared with Q4 2021, the fund opened 18 new positions and exited 22.

Portfolio Metrics

Turnover
+37.4%
vs prior filed quarter
Top-10 Concentration
+42.4%
share of reported value
Largest Position
+6.8%
Equity Lifestyle Pptys
New / Exited
18 / 22
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: 82.6%Common Stock: 16.5%ADR: 0.7%Tracking Stk: 0.2%
  • REIT · 82.6% · $268M
  • Common Stock · 16.5% · $53M
  • ADR · 0.7% · $2M
  • Tracking Stk · 0.2% · $792,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PSAPUBLIC STORAGENEW+29.7K29.7K+$12M$12M
AREALEXANDRIA REAL ESTATE EQ INNEW+53.0K53.0K+$11M$11M
FRTFEDERAL RLTY INVT TR NEWNEW+86.9K86.9K+$11M$11M
DLRDIGITAL RLTY TR INCNEW+63.6K63.6K+$9M$9M
CCICROWN CASTLE INTL CORP NEWNEW+42.8K42.8K+$8M$8M
SBRASABRA HEALTH CARE REIT INCNEW+504.6K504.6K+$8M$8M
HIWHIGHWOODS PPTYS INCNEW+163.8K163.8K+$7M$7M
EPRTESSENTIAL PPTYS RLTY TR INCNEW+204.7K204.7K+$5M$5M

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

Holdings — Q1 2022

66 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ELSEQUITY LIFESTYLE PPTYS INChistory →COM6.85%$22M290.3K
2CPTCAMDEN PPTY TRhistory →SH BEN INT5.67%$18M110.6K
3AMERICAN CAMPUS CMNTYS INCCOM4.78%$15M276.7K
4VTRVENTAS INChistory →COM4.60%$15M241.6K
5AVBAVALONBAY CMNTYS INChistory →COM3.77%$12M49.2K
6PSAPUBLIC STORAGEhistory →COM3.57%$12M29.7K
7REXRREXFORD INDL RLTY INChistory →COM3.57%$12M155.0K
8AREALEXANDRIA REAL ESTATE EQ INhistory →COM3.29%$11M53.0K
9FRTFEDERAL RLTY INVT TR NEWhistory →SH BEN INT NEW3.27%$11M86.9K
10VICIVICI PPTYS INChistory →COM3.03%$10M345.6K
11DLRDIGITAL RLTY TR INChistory →COM2.78%$9M63.6K
12SPIRIT RLTY CAP INC NEWCOM NEW2.66%$9M187.3K
13ADCAGREE RLTY CORPhistory →COM2.58%$8M125.9K
14ABNBAIRBNB INChistory →COM CL A2.54%$8M47.9K
15HRUSDHEALTHCARE RLTY TRhistory →COM2.50%$8M258.6K
16CCICROWN CASTLE INTL CORP NEWhistory →COM2.44%$8M42.8K
17KRGKITE RLTY GROUP TRhistory →COM NEW2.40%$8M342.1K
18MGPMGM GROWTH PPTYS LLChistory →CL A COM2.34%$8M196.0K
19SBRASABRA HEALTH CARE REIT INChistory →COM2.32%$8M504.6K
20HIWHIGHWOODS PPTYS INChistory →COM2.31%$7M163.8K
21DISDISNEY WALT COhistory →COM2.05%$7M48.3K
22HLTHILTON WORLDWIDE HLDGS INChistory →COM2.01%$7M42.8K
23APARTMENT INCOME REIT CORPCOM1.93%$6M117.0K
24WELLWELLTOWER INChistory →COM1.90%$6M64.1K
25HSTHOST HOTELS & RESORTS INChistory →COM1.89%$6M314.8K
26AMZNAMAZON COM INChistory →COM1.79%$6M1.8K
27EPRTESSENTIAL PPTYS RLTY TR INChistory →COM1.60%$5M204.7K
28SLGSL GREEN RLTY CORPhistory →COM1.57%$5M62.7K
29SUISUN CMNTYS INChistory →COM1.44%$5M26.5K
30IRTINDEPENDENCE RLTY TR INChistory →COM1.41%$5M172.8K
31MPTMEDICAL PPTYS TRUST INChistory →COM1.38%$4M211.1K
32DEIDOUGLAS EMMETT INChistory →COM1.33%$4M128.6K
33BKOBLUEROCK RESIDENTIAL GWT REIhistory →COM CL A1.06%$3M129.4K
34LXP INDUSTRIAL TRUSTCOM1.05%$3M216.8K
35KRCKILROY RLTY CORPhistory →COM1.00%$3M42.6K
36TNLTRAVEL PLUS LEISURE COCOM0.92%$3M51.6K
37CALYCALLAWAY GOLF COCOM0.72%$2M99.2K
38BABAALIBABA GROUP HLDG LTDSPONSORED ADS0.68%$2M20.3K
39SPLUNK INCCOM0.64%$2M13.9K
40NVDANVIDIA CORPORATIONCOM0.61%$2M7.3K
41JPMJPMORGAN CHASE & COCOM0.59%$2M14.0K
42METAMETA PLATFORMS INCCL A0.59%$2M8.5K
43PLNTPLANET FITNESS INCCL A0.39%$1M14.8K
44GSGOLDMAN SACHS GROUP INCCOM0.37%$1M3.6K
45SHOPSHOPIFY INCCL A0.35%$1M1.7K
46DEDEERE & COCOM0.34%$1M2.6K
47RLJRLJ LODGING TRCOM0.32%$1M74.0K
48AZEKAZEK CO INCCL A0.32%$1M41.5K
49LIBERTY MEDIA CORP DELCOM C BRAVES GRP0.24%$792,00028.4K
50MTNVAIL RESORTS INCCOM0.24%$764,0002.9K
51CZRCAESARS ENTERTAINMENT INC NECOM0.21%$681,0008.8K
52EVERI HLDGS INCCOM0.20%$651,00031.0K
53UBERUBER TECHNOLOGIES INCCOM0.19%$604,00016.9K
54TWLOTWILIO INCCL A0.18%$595,0003.6K
55HIBBETT INCCOM0.16%$515,00011.6K
56MTCHMATCH GROUP INC NEWCOM0.14%$457,0004.2K
57ULCCFRONTIER GROUP HLDGS INCCOM0.12%$386,00034.1K
58ZMZOOM VIDEO COMMUNICATIONS INCL A0.11%$353,0003.0K
59TSLATESLA INCCOM0.11%$351,000326
60BKNGBOOKING HOLDINGS INCCOM0.11%$348,000148
61SBNYSIGNATURE BK NEW YORK N YCOM0.11%$341,0001.2K
62GOOGALPHABET INCCAP STK CL C0.09%$302,000108
63RSRELIANCE STEEL & ALUMINUM COCOM0.09%$285,0001.6K
64CRMDCORMEDIX INCCOM0.09%$283,00051.6K
65AFRMAFFIRM HLDGS INCCOM CL A0.07%$226,0004.9K
66DRAFTKINGS INCCOM CL A0.07%$223,00011.4K

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 ↗.