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HGI Capital Management, LLC

Q3 2025 · Filed 2025-11-14
Market Value
$12.8B
+17184.8%
Holdings
29
-2
New Purchases
6
Added To
1
Closed
8
Reduced
13
Top 10 Concentration
99.8%
Turnover
48.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PECO 12.72% 0.00% +12.72% $1.6B
OHI 12.15% 0.00% +12.15% $1.6B
VRE 12.57% 2.13% +10.44% $1.6B
BNL 9.60% 0.00% +9.60% $1.2B
VICI 12.00% 3.64% +8.36% $1.5B
UDR 13.30% 5.94% +7.36% $1.7B
BRX 6.52% 0.00% +6.52% $832M
HST 10.61% 4.67% +5.93% $1.4B
NMRK 10.34% 4.82% +5.52% $1.3B
HD 0.02% 0.00% +0.02% $2M
ARE 0.01% 0.00% +0.01% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
DLR 0.02% 5.71% -5.70% $2M
ESRT 0.00% 5.42% -5.42% $0
EQR 0.01% 5.42% -5.41% $2M
PSA 0.02% 5.39% -5.38% $2M
EXR 0.02% 5.39% -5.37% $2M
CBRE 0.02% 5.08% -5.06% $2M
ESS 0.01% 5.07% -5.06% $2M
INVH 0.00% 4.89% -4.89% $0
CPT 0.00% 4.82% -4.82% $0
KRG 0.00% 4.62% -4.62% $0
VNO 0.00% 4.60% -4.60% $0
FR 0.02% 4.36% -4.34% $2M
VTR 0.01% 4.22% -4.20% $2M
ELS 0.00% 3.97% -3.97% $0
PLD 0.01% 3.13% -3.11% $2M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 1 $2M 0.0%
Large Cap 16 $6.1B 48.2%
Mid Cap 9 $5.0B 39.2%
Small Cap 3 $1.6B 12.6%

Portfolio Analytics

Avg Market Cap
$34.7B
Median Market Cap
$12.4B
Avg P/E
34.5
Median P/E
28.6
Avg Dividend Yield
0.04%
Avg Beta
0.99
# Stocks
29
# ETFs / Funds
0

Top Holdings (29 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 UDR 13.30% 45,536 $1.7B $37,259.99 $1.7B -61,819 -57.6%
2 PECO 12.72% 47,268 $1.6B $34,329.99 +47,268 NEW
3 VRE 12.57% 105,494 $1.6B $15,200.00 $1.6B
4 OHI 12.15% 36,722 $1.6B $42,220.00 +36,722 NEW
5 VICI 12.00% 46,931 $1.5B $32,610.00 $1.5B -35,381 -43.0%
6 HST 10.61% 79,502 $1.4B $17,020.00 $1.3B -145,075 -64.6%
7 NMRK 10.34% 70,688 $1.3B $18,650.00 $1.3B -222,069 -75.8%
8 BNL 9.60% 68,558 $1.2B $17,869.99 +68,558 NEW
9 BRX 6.52% 30,050 $832M $27,680.00 +30,050 NEW
10 EQIX 0.02% 3,053 $2M $783.24 $194K +291 +10.5%
11 CBRE 0.02% 14,632 $2M $157.56 -$1M -12,122 -45.3%
12 FR 0.02% 39,373 $2M $51.47 -$1M -27,462 -41.1%
13 DLR 0.02% 11,661 $2M $172.88 -$2M -12,518 -51.8%
14 HD 0.02% 4,944 $2M $405.19 +4,944 NEW
15 EXR 0.02% 14,110 $2M $140.94 -$2M -12,867 -47.7%
16 PSA 0.02% 6,654 $2M $288.85 -$2M -6,903 -50.9%
17 ARE 0.01% 22,773 $2M $83.34 +22,773 NEW
18 PLD 0.01% 16,330 $2M $114.52 -$438K -5,623 -25.6%
19 ESS 0.01% 6,930 $2M $267.66 -$2M -6,277 -47.5%
20 VTR 0.01% 25,138 $2M $69.99 -$1M -24,127 -49.0%
21 EQR 0.01% 25,128 $2M $64.73 -$2M -34,126 -57.6%
22 RLJ —% -$843K -115,818 -100.0% SOLD
23 KRG —% -$3M -150,618 -100.0% SOLD
24 ADC —% -$2M -26,176 -100.0% SOLD
25 CPT —% -$4M -31,590 -100.0% SOLD
26 VNO —% -$3M -88,686 -100.0% SOLD
27 INVH —% -$4M -110,106 -100.0% SOLD
28 ESRT —% -$4M -494,696 -100.0% SOLD
29 ELS —% -$3M -47,474 -100.0% SOLD

New Positions

SymbolValue% Port
PECO $1.6B 12.72%
OHI $1.6B 12.15%
BNL $1.2B 9.60%
BRX $832M 6.52%
HD $2M 0.02%
ARE $2M 0.01%

Sold Out Positions

SymbolValue% Port
ESRT —%
ADC —%
KRG —%
CPT —%
ELS —%
RLJ —%
INVH —%
VNO —%
View SEC EDGAR Filings for HGI Capital Management, LLC →

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