HGI Capital Management, LLC

CIK

1595907

Location

New York, NY

Portfolio Value

Micro $36,393,977

Diversification

Diversified

Filing Date

Global Rank

#7,940 / 8,113 ▼ 154 · as of Sep 2025

Top Industry

REIT - Industrial 21.5%

3Y Alpha vs SPY

-12.6%

Period ended 1 year ago

Filed Nov 14, 2025 · 12mo

23 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2025, never from the firm's own description.

Style

Diversified active

Top 10 weight 55.7%, 20.1 effective positions, active share 95.1% against the Dow Jones Industrial Average as of 2025-10-31; it meets none of the index-like, systematic-like or concentrated tests

Turnover

High turnover

137.4% over the last four quarters (100%+)

Horizon

Short horizon

Value-weighted holding period 4.0 quarters (under 4)

Closest benchmark: the Dow Jones Industrial Average as of 2025-10-31, active share 95.1%; sector active share 92.2% against the combined 13F book's sector weights.

Over time 23 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

21 tracked positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

6.6%

+0.6 pts

Top 5

29.5%

+1.6 pts

Top 10

55.7%

+2.6 pts

HHI

496

Diversified+28

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Real Estate	94.5%	$34,390,718	20
Consumer Cyclical	5.5%	$2,003,259	1

Last Quarter's Activity

Export CSV

Sep 30, 2025 vs Jun 30, 2025

Added To

Positions the filer increased

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
EQIX	Equinix Inc	+291	3,053	$2,391,231
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
NMRK	Newmark Group, Inc.	−222,069	70,688	$1,318,331
HST	Host Hotels & Resorts, Inc.	−145,075	79,502	$1,353,124
UDR	UDR, Inc.	−61,819	45,536	$1,696,671
VICI	Vici Properties Inc.	−35,381	46,931	$1,530,419
VMRK	Vivmark Residential	−34,126	25,128	$1,626,535
FR	First Industrial Realty Trust Inc	−27,462	39,373	$2,026,528
VTR	Ventas, Inc.	−24,127	25,138	$1,759,408
EXR	Extra Space Storage Inc.	−12,867	14,110	$1,988,663
DLR	Digital Realty Trust, Inc.	−12,518	11,661	$2,015,953
CBRE	Cbre Group, Inc.	−12,122	14,632	$2,305,417
PSA	Public Storage	−6,903	6,654	$1,922,007
ESS	Essex Property Trust, Inc.	−6,277	6,930	$1,854,883
PLD	Prologis, Inc.	−5,623	16,330	$1,870,111
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
HD	Home Depot, Inc.	4,944	$2,003,259
ARE	Alexandria Real Estate Equities, Inc.	22,773	$1,897,901
PECO	Phillips Edison & Company, Inc.	47,268	$1,622,710
OHI	Omega Healthcare Investors Inc	36,722	$1,550,402
BNL	Broadstone Net Lease, Inc.	68,558	$1,225,131
BRX	Brixmor Property Group Inc.	30,050	$831,784
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
ESRT	Empire State Realty Trust, Inc.	494,696	$4,002,090
INVH	Invitation Homes Inc.	110,106	$3,611,476
CPT	Camden Property Trust	31,590	$3,559,877
KRG	Kite Realty Group Trust	150,618	$3,411,497
VNO	Vornado Realty Trust	88,686	$3,391,352
ELS	Equity Lifestyle Properties Inc	47,474	$2,927,721
ADC	Agree Realty Corp	26,176	$1,912,418
RLJ	RLJ Lodging Trust	115,818	$843,155
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

21 tracked positions · $36,393,977 total · filing declares 21 positions · $36,393,987 · as of Sep 30, 2025

All sectors Consumer Cyclical Real Estate

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
EQIX	Equinix Inc Real Estate	Added	3,053	+291	$2,391,231	+8.8%	2	$841.99	6.57%
CBRE	Cbre Group, Inc. Real Estate	Reduced	14,632	-12,122	$2,305,417	−38.5%	9	$85.59	6.33%
FR	First Industrial Realty Trust Inc Real Estate	Reduced	39,373	-27,462	$2,026,528	−37.0%	11	$53.04	5.57%
DLR	Digital Realty Trust, Inc. Real Estate	Reduced	11,661	-12,518	$2,015,953	−52.2%	2	$163.53	5.54%
HD	Home Depot, Inc. Consumer Cyclical	NEW	4,944	NEW	$2,003,259	NEW	1	$393.20	5.50%
EXR	Extra Space Storage Inc. Real Estate	Reduced	14,110	-12,867	$1,988,663	−50.0%	3	$148.24	5.46%
PSA	Public Storage Real Estate	Reduced	6,654	-6,903	$1,922,007	−51.7%	3	$298.40	5.28%
ARE	Alexandria Real Estate Equities, Inc. Real Estate	NEW	22,773	NEW	$1,897,901	NEW	1	$80.11	5.21%
PLD	Prologis, Inc. Real Estate	Reduced	16,330	-5,623	$1,870,111	−19.0%	2	$104.88	5.14%
ESS	Essex Property Trust, Inc. Real Estate	Reduced	6,930	-6,277	$1,854,883	−50.4%	3	$292.07	5.10%
VTR	Ventas, Inc. Real Estate	Reduced	25,138	-24,127	$1,759,408	−43.4%	4	$62.84	4.83%
UDR	UDR, Inc. Real Estate	Reduced	45,536	-61,819	$1,696,671	−61.3%	3	$42.30	4.66%
VMRK	Vivmark Residential Real Estate	Reduced	25,128	-34,126	$1,626,535	−59.3%	13	$71.01	4.47%
PECO	Phillips Edison & Company, Inc. Real Estate	NEW	47,268	NEW	$1,622,710	NEW	1	$34.65	4.46%
		Held	105,494	0	$1,603,509	+2.1%	6	unpriced	4.41%
OHI	Omega Healthcare Investors Inc Real Estate	NEW	36,722	NEW	$1,550,402	NEW	1	$40.33	4.26%
VICI	Vici Properties Inc. Real Estate	Reduced	46,931	-35,381	$1,530,419	−43.0%	3	$30.81	4.21%
HST	Host Hotels & Resorts, Inc. Real Estate	Reduced	79,502	-145,075	$1,353,124	−60.8%	2	$14.81	3.72%
NMRK	Newmark Group, Inc. Real Estate	Reduced	70,688	-222,069	$1,318,331	−62.9%	9	$9.32	3.62%
BNL	Broadstone Net Lease, Inc. Real Estate	NEW	68,558	NEW	$1,225,131	NEW	1	$17.20	3.37%
BRX	Brixmor Property Group Inc. Real Estate	NEW	30,050	NEW	$831,784	NEW	1	$26.77	2.29%

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.