Institutional
Adelante Capital Management LLC
CIK 0001067926
$1.46B
Reported AUM
42
Positions
Q1 2026
Period
2026-05-18
Filed
The Brief · Adelante Capital Management LLC · Q1 2026
AI · grounded in 13F
Adelante Capital Management LLC closed its position in Veris Residential, Inc. VRE, reducing its exposure by $10.97M. The fund increased its stake in Essential Properties Realty by 58.06% and First Industrial Realty Trust FR by 14.88%. Other notable reductions include trimming positions in American Homes 4 Rent AMH by 30.48% and Vici Properties VICI by 17.10%.
Portfolio · Q1 2026
Top holdings
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | WELL | Welltower Inc. | $235.63 | -2.26% | 43.92% | 202.31% | $203.5M | 13.91% | — | HELD |
| 2 | PLD | ProLogis Inc. | $146.19 | 0.49% | 43.15% | 24.77% | $174.7M | 11.95% | — | HELD |
| 3 | EQIX | Equinix Inc. | $1047.53 | 3.92% | 39.13% | 36.86% | $128.6M | 8.79% | — | HELD |
| 4 | DLR | Digital Realty Trust | $193.19 | 2.66% | 15.42% | 39.80% | $86.2M | 5.89% | — | HELD |
| 5 | SPG | Simon Property Group, Inc. | $230.44 | -2.19% | 50.24% | 123.68% | $83.8M | 5.73% | — | HELD |
| 6 | O | Realty Income | $64.43 | -1.69% | 18.64% | 17.20% | $73.0M | 4.99% | — | HELD |
| 7 | AVB | AvalonBay Communities, Inc. | $187.78 | -2.43% | 5.85% | -2.80% | $53.1M | 3.63% | — | HELD |
| 8 | EQR | Equity Residential | $67.12 | -2.51% | 11.79% | -2.85% | $52.9M | 3.62% | — | HELD |
| 9 | VTR | Ventas, Inc. | $91.92 | -5.94% | 39.52% | 94.04% | $50.4M | 3.45% | — | HELD |
| 10 | BKD | Brookdale Senior Living | $14.62 | -1.62% | 92.12% | 100.27% | $47.6M | 3.26% | — | HELD |
| 11 | KIM | Kimco Realty Corp. | $25.51 | -1.92% | 28.78% | 45.86% | $42.8M | 2.93% | — | HELD |
| 12 | IRM | Iron Mountain | $124.64 | 3.22% | 37.91% | 219.47% | $36.5M | 2.49% | — | HELD |
| 13 | BRX | Brixmor Property Group | $31.50 | -0.51% | 29.13% | 67.80% | $36.2M | 2.48% | — | HELD |
| 14 | ELS | Equity Lifestyle Properties | $65.53 | -3.13% | 12.67% | -11.39% | $34.5M | 2.36% | — | HELD |
| 15 | VICI | Vici Properties | $26.31 | -3.02% | -15.39% | 11.63% | $33.8M | 2.31% | — | HELD |
| 16 | ADC | Agree Realty Corporation | $78.41 | -2.46% | 9.67% | 28.51% | $33.2M | 2.27% | — | HELD |
| 17 | FR | First Industrial Realty Trust, | $65.98 | 0.99% | 42.43% | 35.21% | $31.5M | 2.15% | — | HELD |
| 18 | AMH | American Homes 4 Rent | $33.21 | -1.48% | -1.81% | -9.33% | $25.2M | 1.73% | — | HELD |
| 19 | VNO | Vornado Realty Trust | $40.15 | -1.23% | 8.95% | 11.12% | $20.7M | 1.42% | — | HELD |
| 20 | RHP | Ryman Hospitality Properties | $133.25 | -1.71% | 50.37% | 88.23% | $20.2M | 1.38% | — | HELD |
| 21 | EPRT | Essential Properties Realty | $31.27 | -2.28% | 6.70% | 19.33% | $19.7M | 1.35% | — | HELD |
| 22 | MAA | Mid-America Apartment Communit | $133.32 | -2.96% | 1.58% | -14.84% | $19.1M | 1.30% | — | HELD |
| 23 | CBRE | CBRE Group | $149.46 | 1.14% | -2.91% | 55.20% | $17.9M | 1.22% | — | HELD |
| 24 | ARE | Alexandria Real Estate Equitie | $52.49 | -2.38% | -27.18% | -68.43% | $16.6M | 1.13% | — | HELD |
| 25 | CTRE | Caretrust REIT Inc | $41.64 | -1.65% | 35.38% | 141.91% | $12.9M | 0.88% | — | HELD |
| 26 | MRP | Millrose Properties | $28.22 | 0.64% | 4.28% | 22.46% | $12.4M | 0.85% | — | HELD |
| 27 | PSA | Public Storage | $317.45 | -3.64% | 18.55% | 22.11% | $11.2M | 0.77% | — | HELD |
| 28 | IVT | Inventrust Properties | $35.20 | -1.62% | 34.43% | 3151.58% | $10.1M | 0.69% | — | HELD |
| 29 | AMT | American Tower Corp. | $174.46 | -2.68% | -15.13% | -30.64% | $9.4M | 0.64% | — | HELD |
| 30 | EGP | Eastgroup Properties | $209.58 | 0.54% | 33.84% | 35.15% | $8.8M | 0.60% | — | HELD |
| 31 | MAC | The Macerich Company | $25.47 | -2.38% | — | — | $8.1M | 0.56% | — | HELD |
| 32 | COLD | Americold Realty Trust | $14.46 | -2.10% | — | — | $7.7M | 0.53% | — | HELD |
| 33 | JAN | Janus Living Inc | $30.40 | -3.06% | — | — | $7.3M | 0.50% | — | HELD |
| 34 | LAMR | Lamar Advertising Co-A | $160.65 | -2.24% | — | — | $6.6M | 0.45% | — | HELD |
| 35 | SUI | Sun Communities, Inc. | $124.43 | -2.74% | — | — | $4.1M | 0.28% | — | HELD |
| 36 | CSR | Centerspace | $56.01 | -1.09% | — | — | $4.1M | 0.28% | — | HELD |
| 37 | BXP | BXP, Inc. | $71.67 | -1.78% | — | — | $4.1M | 0.28% | — | HELD |
| 38 | EXR | Extra Space Storage, Inc. | $148.21 | -3.04% | — | — | $3.9M | 0.27% | — | HELD |
| 39 | SLG | SL Green Realty Corp. | $53.61 | -0.39% | — | — | $3.9M | 0.27% | — | HELD |
| 40 | CCI | Crown Castle Inc | $76.51 | -3.26% | — | — | $3.2M | 0.22% | — | HELD |
| 41 | RYN | Rayonier Inc | $21.39 | -3.56% | — | — | $1.6M | 0.11% | — | HELD |
| 42 | HLT | Hilton, Inc. | $322.02 | 0.09% | — | — | $1.2M | 0.08% | — | HELD |
Source: SEC EDGAR · accession 0001067926-26-000004. 13F discloses long positions only — shorts, foreign equities, and options are excluded.