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Asset Manager ← All Institutions

Adelante Capital Management LLC

Q4 2025 · Filed 2026-02-18
Market Value
$1.5B
-0.8%
Holdings
47
-1
New Purchases
4
Added To
19
Closed
5
Reduced
19
Top 10 Concentration
61.6%
Turnover
19.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PLD 11.44% 9.74% +1.70% $170M
EXR 1.94% 0.32% +1.63% $29M
HLT 1.31% 0.00% +1.31% $19M
WELL 12.58% 11.67% +0.92% $187M
ARE 1.31% 0.40% +0.91% $19M
CBRE 1.18% 0.28% +0.90% $18M
AMH 2.81% 2.03% +0.79% $42M
VTR 3.62% 3.10% +0.53% $54M
VNO 1.45% 1.01% +0.45% $22M
MRP 0.44% 0.00% +0.44% $7M
SPG 6.03% 5.64% +0.39% $89M
CSR 0.32% 0.00% +0.32% $5M
SLG 0.30% 0.00% +0.30% $4M
BKD 3.40% 3.14% +0.26% $50M
CTRE 0.95% 0.79% +0.17% $14M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
DOC 0.00% 1.77% -1.77% $0
HST 0.00% 1.53% -1.53% $0
BXP 0.34% 1.42% -1.08% $5M
TRNO 0.00% 1.07% -1.07% $0
INVH 0.00% 0.94% -0.94% $0
IRM 1.90% 2.63% -0.74% $28M
FR 0.65% 1.37% -0.72% $10M
KRC 0.34% 0.93% -0.58% $5M
AVB 3.88% 4.40% -0.51% $58M
VICI 2.82% 3.32% -0.49% $42M
EPRT 0.55% 1.01% -0.46% $8M
DLR 4.97% 5.35% -0.39% $74M
PSA 4.22% 4.54% -0.32% $63M
KIM 2.70% 2.92% -0.22% $40M
ELS 2.37% 2.57% -0.21% $35M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 27 $1.2B 81.8%
Mid Cap 18 $254M 17.1%
Small Cap 2 $16M 1.1%

Portfolio Analytics

Avg Market Cap
$28.2B
Median Market Cap
$13.6B
Avg P/E
40.4
Median P/E
28.8
Avg Dividend Yield
0.04%
Avg Beta
0.84
# Stocks
47
# ETFs / Funds
0

Top Holdings (47 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 WELL 12.58% 1,005,930 $187M $185.61 $12M +26,548 +2.7%
2 PLD 11.44% 1,330,380 $170M $127.66 $24M +58,092 +4.6%
3 EQIX 6.60% 127,773 $98M $766.16 -$193K +2,539 +2.0%
4 SPG 6.03% 483,043 $89M $185.11 $5M +33,699 +7.5%
5 DLR 4.97% 476,430 $74M $154.71 -$6M +13,195 +2.9%
6 O 4.60% 1,210,086 $68M $56.37 -$800K +74,827 +6.6%
7 PSA 4.22% 241,215 $63M $259.50 -$5M +6,098 +2.6%
8 AVB 3.88% 317,906 $58M $181.31 -$8M -22,382 -6.6%
9 EQR 3.63% 855,472 $54M $63.04 -$3M -22,780 -2.6%
10 VTR 3.62% 695,237 $54M $77.38 $7M +33,328 +5.0%
11 BKD 3.40% 1,088,545 $50M $46.35 $3M +75,364 +7.4%
12 VICI 2.82% 1,490,427 $42M $28.12 -$8M -31,030 -2.0%
13 AMH 2.81% 1,300,347 $42M $32.10 $11M +388,346 +42.6%
14 KIM 2.70% 1,979,607 $40M $20.27 -$4M -21,143 -1.1%
15 ELS 2.37% 579,880 $35M $60.61 -$3M -54,175 -8.5%
16 BRX 2.22% 1,256,794 $33M $26.22 $2M +142,964 +12.8%
17 ADC 2.13% 438,415 $32M $72.03 $207K -3,190 -0.7%
18 EXR 1.94% 221,431 $29M $130.22 $24M -16,910 -7.1%
19 IRM 1.90% 339,227 $28M $82.95 -$11M -47,058 -12.2%
20 VNO 1.45% 647,857 $22M $33.28 $7M +276,916 +74.7%
21 ARE 1.31% 397,289 $19M $48.94 $13M +324,884 +448.7%
22 HLT 1.31% 67,494 $19M $287.25 +67,494 NEW
23 CBRE 1.18% 109,094 $18M $160.79 $13M +82,629 +312.2%
24 RHP 1.18% 184,398 $17M $94.62 $2M +12,902 +7.5%
25 MAA 1.08% 115,761 $16M $138.91 -$375K -2,003 -1.7%
26 CTRE 0.95% 391,935 $14M $36.16 $2M +51,738 +15.2%
27 EGP 0.82% 67,903 $12M $178.14 -$730K -7,875 -10.4%
28 VRE 0.74% 737,176 $11M $14.88 -$465K -15,049 -2.0%
29 AMT 0.67% 56,840 $10M $175.56 -$1M -727 -1.3%
30 FR 0.65% 474,066 $10M $20.27 -$11M +76,418 +19.2%
31 IVT 0.63% 329,783 $9M $28.21 -$286K -5,249 -1.6%
32 COLD 0.58% 670,301 $9M $12.86 $2M +95,409 +16.6%
33 EPRT 0.55% 411,313 $8M $19.80 -$7M -95,681 -18.9%
34 CUZ 0.50% 285,108 $7M $25.78 -$1M -4,095 -1.4%
35 MRP 0.44% 220,567 $7M $29.87 +220,567 NEW
36 LAMR 0.41% 48,651 $6M $126.57 $303K +826 +1.7%
37 KRC 0.34% 136,904 $5M $37.37 -$9M -191,005 -58.2%
38 BXP 0.34% 75,363 $5M $67.47 -$16M -209,976 -73.6%
39 CSR 0.32% 72,059 $5M $66.72 +72,059 NEW
40 SLG 0.30% 96,825 $4M $45.87 +96,825 NEW
41 CCI 0.25% 40,940 $4M $88.86 -$461K -1,546 -3.6%
42 PCH 0.13% 45,393 $2M $42.22 -$258K -7,952 -14.9%
43 HST —% -$23M -1,343,133 -100.0% SOLD
44 OHI —% -$353K -8,357 -100.0% SOLD
45 DOC —% -$26M -1,305,556 -100.0% SOLD
46 INVH —% -$14M -478,893 -100.0% SOLD
47 TRNO —% -$16M -283,173 -100.0% SOLD

New Positions

SymbolValue% Port
HLT $19M 1.31%
MRP $7M 0.44%
CSR $5M 0.32%
SLG $4M 0.30%

Sold Out Positions

SymbolValue% Port
TRNO —%
DOC —%
INVH —%
OHI —%
HST —%
View SEC EDGAR Filings for Adelante Capital Management LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms