Adelante Capital Management LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Adelante Capital Management LLC reported 42 stock positions worth $1.3 billion. Its top holding was Prologis (PLD) at 13.4% of the portfolio, followed by Equinix (EQIX, 10.2%) and Welltower (WELL, 9.5%). Compared with Q1 2024, it opened 2 new positions, sold out of 3, added to 10 and reduced 30. The biggest buy was Digital Realty Trust (DLR, shares +3%) and the biggest sale Extra Space Storage (EXR, shares −17%).
- Most Recent 13F
- Q2 2026
- Location
- ALAMEDA, CA
- CIK
- 0001067926
- Portfolio Value
- $1.3B (Q2 2024)
- SEC Filing
- 0001067926-24-000005 ↗ filed Aug 14, 2024
Holdings Value
Holdings 42 stocks · $1.3B
| PLD Prologis Inc. | 13.39% | 1,510,185 | $169.6M | Reduce -10.9% |
| EQIX Equinix Inc. | 10.16% | 170,110 | $128.7M | Reduce -8.8% |
| WELL Welltower Inc. | 9.51% | 1,154,620 | $120.4M | Reduce -12.2% |
| SPG Simon Property Group Inc. | 6.92% | 577,445 | $87.7M | Reduce -6.5% |
| PSA Public Storage | 6.79% | 298,708 | $85.9M | Reduce -6.6% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 6.32% | 1,154,894 | $80.1M | Reduce -9.3% |
| AVB Avalonbay Communities Inc. | 6.29% | 385,130 | $79.7M | Reduce -0.4% |
| DLR Digital Realty Trust Inc. | 6.04% | 503,300 | $76.5M | Add +3.5% |
| ARE Alexandria Real Estate Equit | 4.02% | 434,810 | $50.9M | Reduce -2.5% |
| AMH American Homes 4 Rent- A | 3.70% | 1,259,806 | $46.8M | Reduce -0.5% |
| KIM Kimco Realty Corp. | 3.31% | 2,155,911 | $42.0M | Reduce -25.3% |
| BRX Brixmor Property Group Inc. | 3.24% | 1,776,672 | $41.0M | Add +11.3% |
| EGP Eastgroup Properties Inc. | 2.38% | 177,161 | $30.1M | Add +32.7% |
| BXP BXP Inc. filed as BOSTON PROPERTIES INC | 2.06% | 424,588 | $26.1M | Reduce -25.3% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 1.98% | 208,112 | $25.0M | Reduce -23.6% |
| INVH Invitation Homes Inc. | 1.93% | 682,430 | $24.5M | Reduce -15.1% |
| ELS Equity Lifestyle Properties | 1.89% | 367,691 | $23.9M | Reduce -9.2% |
| FR First Industrial Realty TR | 1.18% | 313,237 | $14.9M | Add +13.2% |
| AHR American Healthcare REIT Inc. | 0.96% | 835,832 | $12.2M | Add +6.6% |
| MAR Marriott International Class A | 0.86% | 44,911 | $10.9M | Reduce -23.6% |
| PLYA Playa Hotels & Resorts NV | 0.80% | 1,202,328 | $10.1M | Reduce -18.9% |
| VNO Vornado Realty Trust | 0.74% | 354,248 | $9.3M | Reduce -7.1% |
| IVT Inventrust Properties Corp. | 0.70% | 358,119 | $8.9M | Add +0.2% |
| OHI Omega Healthcare Investors | 0.70% | 258,824 | $8.9M | New |
| ELME Elme Communities | 0.68% | 541,961 | $8.6M | Reduce -9.5% |
| AMT American Tower Corp. | 0.65% | 42,627 | $8.3M | Reduce -29.6% |
| LAMR Lamar Advertising Co. Class A | 0.63% | 67,183 | $8.0M | Add +3.3% |
| EXR Extra Space Storage Inc. | 0.45% | 285,649 | $5.7M | Reduce -16.9% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.42% | 186,292 | $5.3M | Add +1.6% |
| O Realty Income Corp. | 0.28% | 67,061 | $3.5M | Add +22.3% |
| MAA Mid-America Apartment Comm | 0.23% | 164,126 | $2.9M | Reduce -32.0% |
| BNL Broadstone Net Lease Inc. | 0.13% | 34,841 | $1.6M | Reduce -16.5% |
| CCI Crown Castle Inc. | 0.11% | 14,376 | $1.4M | New |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.11% | 15,627 | $1.4M | Reduce -11.0% |
| PCH Potlatchdeltic Corp. | 0.10% | 31,990 | $1.3M | Reduce -2.3% |
| ESS Essex Property Trust Inc. | 0.10% | 4,569 | $1.2M | Reduce -85.1% |
| HLT Hilton Worldwide Holdings Inc. | 0.09% | 5,409 | $1.2M | Reduce -22.8% |
| EPRT Essential Properties Realty | 0.06% | 27,347 | $758K | Reduce -7.2% |
| COLD Americold Realty Trust Inc. | 0.05% | 25,844 | $661K | Reduce -92.5% |
| DRH Diamondrock Hospitality Co. | 0.03% | 44,259 | $374K | Reduce -97.2% |
| RHP Ryman Hospitality Properties | 0.00% | 287,989 | $0 | Add +109.7% |
| VTR Ventas Inc. | 0.00% | 605,296 | $0 | Reduce -23.1% |
Portfolio Sells Q1 2024 → Q2 2024
| EXR Extra Space Storage Inc. | Reduce -16.9% | 0.45% | −2.88 |
| VTR Ventas Inc. | Reduce -23.1% | 0.00% | −2.26 |
| MAA Mid-America Apartment Comm | Reduce -32.0% | 0.23% | −1.86 |
| PLD Prologis Inc. | Reduce -10.9% | 13.39% | −1.15 |
| DRH Diamondrock Hospitality Co. | Reduce -97.2% | 0.03% | −0.96 |
| PLYA Playa Hotels & Resorts NV | Reduce -18.9% | 0.80% | −0.95 |
| REXR Rexford Industrial Realty Inc. | Sold out | 0.00% | −0.62 |
| COLD Americold Realty Trust Inc. | Reduce -92.5% | 0.05% | −0.51 |
| KIM Kimco Realty Corp. | Reduce -25.3% | 3.31% | −0.41 |
| ESS Essex Property Trust Inc. | Reduce -85.1% | 0.10% | −0.40 |
| BXP BXP Inc. | Reduce -25.3% | 2.06% | −0.38 |
| AMT American Tower Corp. | Reduce -29.6% | 0.65% | −0.13 |
| MAR Marriott International Class A | Reduce -23.6% | 0.86% | −0.12 |
| SLG SL Green Realty Corp. | Sold out | 0.00% | −0.04 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -22.8% | 0.09% | −0.01 |
| PCH Potlatchdeltic Corp. | Reduce -2.3% | 0.10% | −0.00 |
| SBAC SBA Communications Corp. | Sold out | 0.00% | 0.00 |
| BNL Broadstone Net Lease Inc. | Reduce -16.5% | 0.13% | +0.00 |
| EPRT Essential Properties Realty | Reduce -7.2% | 0.06% | +0.01 |
| VNO Vornado Realty Trust | Reduce -7.1% | 0.74% | +0.01 |
| IRM Iron Mountain Inc. | Reduce -11.0% | 0.11% | +0.02 |
| EQIX Equinix Inc. | Reduce -8.8% | 10.16% | +0.03 |
| INVH Invitation Homes Inc. | Reduce -15.1% | 1.93% | +0.05 |
| ELME Elme Communities | Reduce -9.5% | 0.68% | +0.13 |
| ELS Equity Lifestyle Properties | Reduce -9.2% | 1.89% | +0.17 |
| ARE Alexandria Real Estate Equit | Reduce -2.5% | 4.02% | +0.23 |
| SPG Simon Property Group Inc. | Reduce -6.5% | 6.92% | +0.56 |
| AMH American Homes 4 Rent- A | Reduce -0.5% | 3.70% | +0.63 |
| PSA Public Storage | Reduce -6.6% | 6.79% | +0.68 |
| VMRK Vivmark Residential | Reduce -9.3% | 6.32% | +1.03 |
| WELL Welltower Inc. | Reduce -12.2% | 9.51% | +1.42 |
| AVB Avalonbay Communities Inc. | Reduce -0.4% | 6.29% | +1.57 |
| SUI Sun Communities Inc. | Reduce -23.6% | 1.98% | +1.98 |
Portfolio Buys Q1 2024 → Q2 2024
| DLR Digital Realty Trust Inc. | Add +3.5% | 6.04% | +1.43 |
| FR First Industrial Realty TR | Add +13.2% | 1.18% | +0.81 |
| EGP Eastgroup Properties Inc. | Add +32.7% | 2.38% | +0.80 |
| BRX Brixmor Property Group Inc. | Add +11.3% | 3.24% | +0.77 |
| OHI Omega Healthcare Investors | New | 0.70% | +0.70 |
| AHR American Healthcare REIT Inc. | Add +6.6% | 0.96% | +0.20 |
| LAMR Lamar Advertising Co. Class A | Add +3.3% | 0.63% | +0.12 |
| CCI Crown Castle Inc. | New | 0.11% | +0.11 |
| IVT Inventrust Properties Corp. | Add +0.2% | 0.70% | +0.10 |
| O Realty Income Corp. | Add +22.3% | 0.28% | +0.08 |
| VICI Vici Properties Inc. | Add +1.6% | 0.42% | +0.06 |
| RHP Ryman Hospitality Properties | Add +109.7% | 0.00% | −1.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 42 | $1.5B | WELL, PLD, EQIX, SPG, DLR |
| Q1 2026 | 42 | $1.5B | WELL, PLD, EQIX, DLR, SPG |
| Q4 2025 | 42 | $1.5B | WELL, PLD, EQIX, SPG, DLR |
| Q3 2025 | 43 | $1.5B | WELL, PLD, EQIX, SPG, DLR |
| Q2 2025 | 42 | $1.4B | WELL, EQIX, PSA, DLR, AVB |
| Q1 2025 | 41 | $1.3B | WELL, PLD, EQIX, AVB, VMRK |
| Q4 2024 | 45 | $1.5B | PLD, WELL, EQIX, SPG, DLR |
| Q3 2024Amended | 42 | $1.5B | PLD, WELL, EQIX, PSA, AVB |
| Q2 2024 | 42 | $1.3B | PLD, EQIX, WELL, SPG, PSA |
| Q1 2024 | 43 | $1.5B | PLD, EQIX, WELL, SPG, PSA |