Managers / Q4 2024 · view latest →
HGI Capital Management, LLC
CIK 0001595907 · 51 WEST 52ND STREET, 19TH FLOOR, NEW YORK, NY, 10019 · 212-644-0515
Summary
Hgi Capital Management, LLC reported $97M in U.S.-listed holdings across 18 positions for Q4 2024.
The portfolio is heavily concentrated: ELME alone accounts for 33.6% of reported value.
Compared with Q3 2024, the fund opened 7 new positions and exited 6.
Portfolio Metrics
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
Portfolio Composition
- REIT · 83.3% · $81M
- Common Stock · 9.0% · $9M
- Other · 7.7% · $8M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| VTRVentas Inc | NEW | +97.1K | 97.1K | +$6M | $6M |
| HSTHost Hotels & Resorts Inc | NEW | +258.9K | 258.9K | +$5M | $5M |
| PEBPebblebrook Hotel Trust | NEW | +240.4K | 240.4K | +$3M | $3M |
| DRHDiamondrock Hospitality Co | NEW | +216.6K | 216.6K | +$2M | $2M |
| LENLennar Corp | NEW | +13.3K | 13.3K | +$2M | $2M |
| LINELineage Inc | NEW | +16.6K | 16.6K | +$970,563 | $970,563 |
| STRWStrawberry Fields Reit Inc | NEW | +15.5K | 15.5K | +$163,222 | $163,222 |
| SAFESafehold Inc | SOLD OUT | −212.9K | 0 | −$6M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ELMEElme Communitieshistory → | SH BEN INT | 33.64% | $33M | 2.14M |
| 2 | EQREquity Residentialhistory → | SH BEN INT | 7.58% | $7M | 102.7K |
| 3 | INVHInvitation Homes Inchistory → | COM | 6.69% | $7M | 203.4K |
| 4 | WSRWhitestone REIThistory → | COM | 6.18% | $6M | 423.7K |
| 5 | VTRVentas Inchistory → | COM | 5.89% | $6M | 97.1K |
| 6 | CPTCamden Property Trusthistory → | SH BEN INT | 5.39% | $5M | 45.1K |
| 7 | COLDAmericold Realty Trust Inchistory → | COM | 4.81% | $5M | 218.6K |
| 8 | HSTHost Hotels & Resorts Inchistory → | COM | 4.67% | $5M | 258.9K |
| 9 | Veris Residential Inc | COM | 4.56% | $4M | 266.7K |
| 10 | CBRECBRE Group Inchistory → | CL A | 3.87% | $4M | 28.6K |
| 11 | PEBPebblebrook Hotel Trusthistory → | COM | 3.35% | $3M | 240.4K |
| 12 | NMRKNewmark Group Inchistory → | CL A | 3.28% | $3M | 248.8K |
| 13 | Cushman & Wakefield PLC | SHS | 3.17% | $3M | 235.2K |
| 14 | DRHDiamondrock Hospitality Cohistory → | COM | 2.01% | $2M | 216.6K |
| 15 | FRFirst Industrial Realty Trust Inchistory → | COM | 1.89% | $2M | 36.7K |
| 16 | LENLennar Corphistory → | CL A | 1.86% | $2M | 13.3K |
| 17 | LINELineage Inc | COM | 1.00% | $970,563 | 16.6K |
| 18 | STRWStrawberry Fields Reit Inc | COM | 0.17% | $163,222 | 15.5K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2025 | $36M | 21 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $74M | 23 | Aug 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $80M | 22 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $97M | 18 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $115M | 17 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $107M | 19 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $93M | 43 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $88M | 40 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $88M | 41 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $208M | 38 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $151M | 27 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $350M | 31 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $314M | 35 | Feb 22, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2022 | $239M | 33 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $324M | 66 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $279M | 70 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $248M | 64 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $287M | 72 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $235M | 59 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $214M | 58 | Feb 4, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $170M | 54 | Oct 29, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $162M | 52 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $106M | 51 | May 7, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $207M | 63 | Feb 5, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $182M | 60 | Nov 5, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $220M | 67 | Jul 26, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $190M | 58 | May 10, 2019 | 13F-HR | changes · 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 ↗.