Adelante Capital Management LLC

CIK

1067926

Location

ALAMEDA, CA

Portfolio Value

Mid $1,556,695,862

Diversification

Diversified

Filing Date

Global Rank

#1,512 / 8,591 ▼ 39

Top Industry

REIT - Retail 20.7%

3Y Alpha vs SPY

-11.1%

Period ended 50 days ago

Filed Aug 17, 2026 · 2d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+32.7%

SPY

+77.0%

Annualised alpha

-11.1%

Max drawdown

−20.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

42 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

14.2%

−0.1 pts

Top 5

45.2%

−2.2 pts

Top 10

62.5%

−3.9 pts

HHI

582

Diversified−51

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Real Estate	99.4%	$1,547,116,027	40
Healthcare	0.5%	$8,115,956	1
Consumer Cyclical	0.1%	$1,463,879	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

14 positions

Ticker	Company	Δ Shares	Shares	Value
JAN	Janus Living, Inc.	+234,109	544,072	$15,636,629
CTRE	CareTrust REIT, Inc.	+193,031	545,493	$22,010,642
VICI	Vici Properties Inc.	+102,819	1,338,445	$35,535,714
LAMR	Lamar Advertising Co/New	+70,304	122,594	$19,122,212
MAC	Macerich Co	+68,713	499,198	$12,574,797
ELS	Equity Lifestyle Properties Inc	+62,091	615,154	$39,646,675
IVT	InvenTrust Properties Corp.	+48,509	378,545	$13,400,493
FR	First Industrial Realty Trust Inc	+32,002	576,611	$35,352,020
HLT	Hilton Worldwide Holdings Inc.	+11,368	72,219	$1,463,879
DLR	Digital Realty Trust, Inc.	+9,123	487,419	$87,530,704
BXP	BXP, Inc.	+5,655	84,018	$5,571,233
SLG	Sl Green Realty Corp	+1,200	106,160	$5,495,903
MAA	Mid America Apartment Communities Inc.	+1,199	157,364	$21,864,154
CBRE	Cbre Group, Inc.	+1,115	133,209	$17,941,920
No positions match the current search.

Trimmed

Positions the filer reduced

23 positions

Ticker	Company	Δ Shares	Shares	Value
KIM	Kimco Realty Corp	−1,166,949	739,084	$18,735,779
BKD	Brookdale Senior Living Inc.	−522,982	504,410	$8,115,956
ARE	Alexandria Real Estate Equities, Inc.	−289,165	68,285	$3,608,862
VMRK	Vivmark Residential	−171,111	723,095	$49,119,843
VNO	Vornado Realty Trust	−110,404	687,780	$27,029,754
BRX	Brixmor Property Group Inc.	−108,790	1,148,695	$36,218,353
EPRT	Essential Properties Realty Trust, Inc.	−100,514	549,615	$16,406,007
AMH	American Homes 4 Rent	−57,797	846,202	$28,364,691
WELL	Welltower Inc.	−56,610	972,469	$220,721,288
PLD	Prologis, Inc.	−47,492	1,274,473	$172,652,857
AVB	Avalonbay Communities Inc	−33,690	291,487	$55,000,682
MRP	Millrose Properties, Inc.	−33,143	410,847	$12,345,952
SPG	Simon Property Group Inc.	−32,241	417,092	$93,282,625
IRM	Iron Mountain Inc	−31,293	325,641	$41,131,714
O	Realty Income Corp	−29,656	1,163,890	$72,114,624
VTR	Ventas, Inc.	−22,318	593,888	$52,737,254
PSA	Public Storage	−20,383	245,064	$10,346,602
RHP	Ryman Hospitality Properties, Inc.	−18,965	199,884	$25,695,088
ADC	Agree Realty Corp	−9,972	430,209	$32,584,029
EQIX	Equinix Inc	−7,306	123,901	$129,153,163
EXR	Extra Space Storage Inc.	−6,550	189,610	$27,550,333
EGP	Eastgroup Properties Inc	−3,371	43,962	$8,903,623
AMT	American Tower Corp /Ma/	−2,124	52,165	$8,532,629
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
FRT	Federal Realty Investment Trust	222,622	$27,480,459
DOC	Healthpeak Properties, Inc.	1,009,623	$21,605,932
ESS	Essex Property Trust, Inc.	67,992	$19,825,787
SBAC	Sba Communications Corp	15,505	$2,736,012
WY	Weyerhaeuser Co	64,703	$1,548,989
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
COLD	Americold Realty Trust	670,972	$7,689,339
SUI	Sun Communities Inc	32,940	$4,149,122
CSR	Centerspace	72,201	$4,147,947
CCI	Crown Castle Inc.	38,976	$3,169,138
RYN	Rayonier Inc	78,915	$1,627,227
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

42 tracked positions · $1,556,695,862 total · filing declares 42 positions · $1,520,992,759 · as of Jun 30, 2026

All sectors Consumer Cyclical Healthcare Real Estate

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
WELL	Welltower Inc. Real Estate	Reduced	972,469	-56,610	$220,721,288	+8.5%	14.18%
PLD	Prologis, Inc. Real Estate	Reduced	1,274,473	-47,492	$172,652,857	−1.2%	11.09%
EQIX	Equinix Inc Real Estate	Reduced	123,901	-7,306	$129,153,163	+0.4%	8.30%
SPG	Simon Property Group Inc. Real Estate	Reduced	417,092	-32,241	$93,282,625	+11.3%	5.99%
DLR	Digital Realty Trust, Inc. Real Estate	Added	487,419	+9,123	$87,530,704	+1.6%	5.62%
O	Realty Income Corp Real Estate	Reduced	1,163,890	-29,656	$72,114,624	−1.2%	4.63%
AVB	Avalonbay Communities Inc Real Estate	Reduced	291,487	-33,690	$55,000,682	+3.5%	3.53%
VTR	Ventas, Inc. Real Estate	Reduced	593,888	-22,318	$52,737,254	+4.7%	3.39%
VMRK	Vivmark Residential Real Estate	Reduced	723,095	-171,111	$49,119,843	−7.1%	3.16%
IRM	Iron Mountain Inc Real Estate	Reduced	325,641	-31,293	$41,131,714	+12.8%	2.64%
ELS	Equity Lifestyle Properties Inc Real Estate	Added	615,154	+62,091	$39,646,675	+14.8%	2.55%
BRX	Brixmor Property Group Inc. Real Estate	Reduced	1,148,695	-108,790	$36,218,353	+0.0%	2.33%
VICI	Vici Properties Inc. Real Estate	Added	1,338,445	+102,819	$35,535,714	+5.3%	2.28%
FR	First Industrial Realty Trust Inc Real Estate	Added	576,611	+32,002	$35,352,020	+12.2%	2.27%
ADC	Agree Realty Corp Real Estate	Reduced	430,209	-9,972	$32,584,029	−1.8%	2.09%
AMH	American Homes 4 Rent Real Estate	Reduced	846,202	-57,797	$28,364,691	+12.4%	1.82%
EXR	Extra Space Storage Inc. Real Estate	Reduced	189,610	-6,550	$27,550,333	+609.3%	1.77%
FRT	Federal Realty Investment Trust Real Estate	NEW	222,622	NEW	$27,480,459	NEW	1.77%
VNO	Vornado Realty Trust Real Estate	Reduced	687,780	-110,404	$27,029,754	+30.3%	1.74%
RHP	Ryman Hospitality Properties, Inc. Real Estate	Reduced	199,884	-18,965	$25,695,088	+27.2%	1.65%
CTRE	CareTrust REIT, Inc. Real Estate	Added	545,493	+193,031	$22,010,642	+70.4%	1.41%
MAA	Mid America Apartment Communities Inc. Real Estate	Added	157,364	+1,199	$21,864,154	+14.6%	1.40%
DOC	Healthpeak Properties, Inc. Real Estate	NEW	1,009,623	NEW	$21,605,932	NEW	1.39%
ESS	Essex Property Trust, Inc. Real Estate	NEW	67,992	NEW	$19,825,787	NEW	1.27%
LAMR	Lamar Advertising Co/New Real Estate	Added	122,594	+70,304	$19,122,212	+188.7%	1.23%
KIM	Kimco Realty Corp Real Estate	Reduced	739,084	-1,166,949	$18,735,779	−56.3%	1.20%
CBRE	Cbre Group, Inc. Real Estate	Added	133,209	+1,115	$17,941,920	+0.3%	1.15%
EPRT	Essential Properties Realty Trust, Inc. Real Estate	Reduced	549,615	-100,514	$16,406,007	−16.9%	1.05%
JAN	Janus Living, Inc. Real Estate	Added	544,072	+234,109	$15,636,629	+114.0%	1.00%
IVT	InvenTrust Properties Corp. Real Estate	Added	378,545	+48,509	$13,400,493	+33.3%	0.86%
MAC	Macerich Co Real Estate	Added	499,198	+68,713	$12,574,797	+54.6%	0.81%
MRP	Millrose Properties, Inc. Real Estate	Reduced	410,847	-33,143	$12,345,952	−0.7%	0.79%
PSA	Public Storage Real Estate	Reduced	245,064	-20,383	$10,346,602	−7.7%	0.66%
EGP	Eastgroup Properties Inc Real Estate	Reduced	43,962	-3,371	$8,903,623	+1.6%	0.57%
AMT	American Tower Corp /Ma/ Real Estate	Reduced	52,165	-2,124	$8,532,629	−8.9%	0.55%
BKD	Brookdale Senior Living Inc. Healthcare	Reduced	504,410	-522,982	$8,115,956	−42.3%	0.52%
BXP	BXP, Inc. Real Estate	Added	84,018	+5,655	$5,571,233	+37.0%	0.36%
SLG	Sl Green Realty Corp Real Estate	Added	106,160	+1,200	$5,495,903	+41.7%	0.35%
ARE	Alexandria Real Estate Equities, Inc. Real Estate	Reduced	68,285	-289,165	$3,608,862	−78.3%	0.23%
SBAC	Sba Communications Corp Real Estate	NEW	15,505	NEW	$2,736,012	NEW	0.18%
WY	Weyerhaeuser Co Real Estate	NEW	64,703	NEW	$1,548,989	NEW	0.10%
HLT	Hilton Worldwide Holdings Inc. Consumer Cyclical	Added	72,219	+11,368	$1,463,879	+18.7%	0.09%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.