SEC 13F Intelligence

Managers / Q2 2023 · view latest →

HGI Capital Management, LLC

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

Reported Value
$208M
Q2 2023
Positions
38
Filings on Record
28
2019–present window
Filed
Aug 14, 2023
original filing

Summary

Hgi Capital Management, LLC reported $208M in U.S.-listed holdings across 38 positions for Q2 2023.

Its largest position, EQR, represents 6.5% of the portfolio.

Compared with Q1 2023, the fund opened 20 new positions and exited 9.

Portfolio Metrics

Turnover
+34.6%
vs prior filed quarter
Top-10 Concentration
+49.8%
share of reported value
Largest Position
+6.5%
Equity Residential
New / Exited
20 / 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: 97.6%Common Stock: 2.4%
  • REIT · 97.6% · $203M
  • Common Stock · 2.4% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
OHIOMEGA HEALTHCARE INVS INCNEW+384.7K384.7K+$12M$12M
PSAPUBLIC STORAGENEW+36.8K36.8K+$11M$11M
AVBAVALONBAY CMNTYS INCNEW+47.3K47.3K+$9M$9M
EGPEASTGROUP PPTYS INCNEW+35.3K35.3K+$6M$6M
LAMRLAMAR ADVERTISING CO NEWNEW+54.5K54.5K+$5M$5M
RHPRYMAN HOSPITALITY PPTYS INCNEW+55.9K55.9K+$5M$5M
SBRASABRA HEALTH CARE REIT INCNEW+400.3K400.3K+$5M$5M
CDPCORPORATE OFFICE PPTYS TRNEW+167.4K167.4K+$4M$4M

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

Holdings — Q2 2023

38 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EQREQUITY RESIDENTIALhistory →SH BEN INT6.55%$14M206.5K
2OHIOMEGA HEALTHCARE INVS INChistory →COM5.67%$12M384.7K
3INVHINVITATION HOMES INChistory →COM5.47%$11M331.1K
4KIMKIMCO RLTY CORPhistory →COM5.35%$11M564.0K
5PSAPUBLIC STORAGEhistory →COM5.17%$11M36.8K
6REGREGENCY CTRS CORPhistory →COM5.11%$11M172.0K
7AMHAMERICAN HOMES 4 RENThistory →CL A4.97%$10M291.8K
8AVBAVALONBAY CMNTYS INChistory →COM4.31%$9M47.3K
9VICIVICI PPTYS INChistory →COM4.05%$8M267.9K
10BRXBRIXMOR PPTY GROUP INChistory →COM3.20%$7M302.3K
11UDRUDR INChistory →COM2.95%$6M143.1K
12EGPEASTGROUP PPTYS INChistory →COM2.95%$6M35.3K
13DLRDIGITAL RLTY TR INChistory →COM2.73%$6M49.9K
14LAMRLAMAR ADVERTISING CO NEWhistory →CL A2.60%$5M54.5K
15RHPRYMAN HOSPITALITY PPTYS INChistory →COM2.50%$5M55.9K
16PLDPROLOGIS INC.history →COM2.49%$5M42.2K
17HSTHOST HOTELS & RESORTS INChistory →COM2.43%$5M300.2K
18ELSEQUITY LIFESTYLE PPTYS INChistory →COM2.31%$5M71.9K
19SBRASABRA HEALTH CARE REIT INChistory →COM2.26%$5M400.3K
20AREALEXANDRIA REAL ESTATE EQ INhistory →COM2.23%$5M41.0K
21EQIXEQUINIX INChistory →COM2.15%$4M5.7K
22WELLWELLTOWER INChistory →COM2.04%$4M52.5K
23CDPCORPORATE OFFICE PPTYS TRhistory →SH BEN INT1.91%$4M167.4K
24DOCHEALTHPEAK PROPERTIES INChistory →COM1.91%$4M197.4K
25STWDSTARWOOD PPTY TR INChistory →COM1.87%$4M201.0K
26WYWEYERHAEUSER CO MTN BEhistory →COM NEW1.82%$4M112.7K
27FRFIRST INDL RLTY TR INChistory →COM1.81%$4M71.4K
28EPRTESSENTIAL PPTYS RLTY TR INChistory →COM1.50%$3M132.2K
29MARMARRIOTT INTL INC NEWhistory →CL A1.47%$3M16.7K
30BXPBOSTON PROPERTIES INChistory →COM1.34%$3M48.6K
31IRTINDEPENDENCE RLTY TR INChistory →COM1.18%$2M135.0K
32HIWHIGHWOODS PPTYS INChistory →COM1.12%$2M97.4K
33FUNSIX FLAGS ENTMT CORP NEWCOM0.94%$2M75.2K
34IRMIRON MTN INC DELCOM0.93%$2M34.2K
35FCPTFOUR CORNERS PPTY TR INCCOM0.76%$2M62.1K
36BNLBROADSTONE NET LEASE INCCOM0.75%$2M101.7K
37ESRTEMPIRE ST RLTY TR INCCL A0.67%$1M185.3K
38PDMPIEDMONT OFFICE REALTY TR INCOM CL A0.54%$1M153.6K

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 ↗.