Adelante Capital Management LLC — 13F Holdings & Portfolio
CIK 1067926 · latest 13F-HR filed 2026-05-18
Adelante Capital Management LLC manages $1.46B in 13F-reported U.S. long-equity assets across 42 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are WELL (13.91%), PLD (11.95%), EQIX (8.79%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 4 new positions, exited 4, added to 15, and trimmed 18.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$1.46B
Long-equity book
42
Distinct positions
2026-03-31
Filed 2026-05-18
+4 / −4 / ↑15 / ↓18
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- Equinix Inc.$30.7M +31.4%
- First Industrial Realty Trust,$21.9M +227.9%
- Welltower Inc.$16.7M +9.0%
- Digital Realty Trust$12.5M +16.9%
- Essential Properties Realty$11.6M +142.4%
Top Trims
- Public Storage-$51.4M -82.1%
- Extra Space Storage, Inc.-$25.0M -86.5%
- Hilton, Inc.-$18.2M -93.6%
- American Homes 4 Rent-$16.5M -39.5%
- Vici Properties-$8.2M -19.5%
New Positions
- The Macerich Company$8.1M
- Janus Living Inc$7.3M
- Sun Communities, Inc.$4.1M
- Rayonier Inc$1.6M
Exited Positions
- Veris Residential, Inc.$11.0M
- Cousins Properties, Inc.$7.3M
- Kilroy Realty$5.1M
- Potlach Corp$1.9M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | Welltower Inc. | WELL | 95040Q104 | $203.5M | 13.91% | 1,029,079 | SH |
| 2 | ProLogis Inc. | PLD | 74340W103 | $174.7M | 11.95% | 1,321,965 | SH |
| 3 | Equinix Inc. | EQIX | 29444U700 | $128.6M | 8.79% | 131,207 | SH |
| 4 | Digital Realty Trust | DLR | 253868103 | $86.2M | 5.89% | 478,296 | SH |
| 5 | Simon Property Group, Inc. | SPG | 828806109 | $83.8M | 5.73% | 449,333 | SH |
| 6 | Realty Income | O | 756109104 | $73.0M | 4.99% | 1,193,546 | SH |
| 7 | AvalonBay Communities, Inc. | AVB | 053484101 | $53.1M | 3.63% | 325,177 | SH |
| 8 | Equity Residential | EQR | 29476L107 | $52.9M | 3.62% | 894,206 | SH |
| 9 | Ventas, Inc. | VTR | 92276F100 | $50.4M | 3.45% | 616,206 | SH |
| 10 | Brookdale Senior Living | BKD | 112463104 | $47.6M | 3.26% | 1,027,392 | SH |
| 11 | Kimco Realty Corp. | KIM | 49446R109 | $42.8M | 2.93% | 1,906,033 | SH |
| 12 | Iron Mountain | IRM | 46284V101 | $36.5M | 2.49% | 356,934 | SH |
| 13 | Brixmor Property Group | BRX | 11120U105 | $36.2M | 2.48% | 1,257,485 | SH |
| 14 | Equity Lifestyle Properties | ELS | 29472R108 | $34.5M | 2.36% | 553,063 | SH |
| 15 | Vici Properties | VICI | 925652109 | $33.8M | 2.31% | 1,235,626 | SH |
| 16 | Agree Realty Corporation | ADC | 008492100 | $33.2M | 2.27% | 440,181 | SH |
| 17 | First Industrial Realty Trust, | FR | 32054K103 | $31.5M | 2.15% | 544,609 | SH |
| 18 | American Homes 4 Rent | AMH | 02665T306 | $25.2M | 1.73% | 903,999 | SH |
| 19 | Vornado Realty Trust | VNO | 929042109 | $20.7M | 1.42% | 798,184 | SH |
| 20 | Ryman Hospitality Properties | RHP | 78377T107 | $20.2M | 1.38% | 218,849 | SH |
| 21 | Essential Properties Realty | EPRT | 29670E107 | $19.7M | 1.35% | 650,129 | SH |
| 22 | Mid-America Apartment Communit | MAA | 59522J103 | $19.1M | 1.30% | 156,165 | SH |
| 23 | CBRE Group | CBRE | 12504L109 | $17.9M | 1.22% | 132,094 | SH |
| 24 | Alexandria Real Estate Equitie | ARE | 015271109 | $16.6M | 1.13% | 357,450 | SH |
| 25 | Caretrust REIT Inc | CTRE | 14174T107 | $12.9M | 0.88% | 352,462 | SH |
| 26 | Millrose Properties | MRP | 601137102 | $12.4M | 0.85% | 443,990 | SH |
| 27 | Public Storage | PSA | 74460D109 | $11.2M | 0.77% | 265,447 | SH |
| 28 | Inventrust Properties | IVT | 46124J201 | $10.1M | 0.69% | 330,036 | SH |
| 29 | American Tower Corp. | AMT | 03027X100 | $9.4M | 0.64% | 54,289 | SH |
| 30 | Eastgroup Properties | EGP | 277276101 | $8.8M | 0.60% | 47,333 | SH |
| 31 | The Macerich Company | MAC | 554382101 | $8.1M | 0.56% | 430,485 | SH |
| 32 | Americold Realty Trust | COLD | 03064D108 | $7.7M | 0.53% | 670,972 | SH |
| 33 | Janus Living Inc | JAN | 471024109 | $7.3M | 0.50% | 309,963 | SH |
| 34 | Lamar Advertising Co-A | LAMR | 512816109 | $6.6M | 0.45% | 52,290 | SH |
| 35 | Sun Communities, Inc. | SUI | 866674104 | $4.1M | 0.28% | 32,940 | SH |
| 36 | Centerspace | CSR | 15202L107 | $4.1M | 0.28% | 72,201 | SH |
| 37 | BXP, Inc. | BXP | 101121101 | $4.1M | 0.28% | 78,363 | SH |
| 38 | Extra Space Storage, Inc. | EXR | 30225T102 | $3.9M | 0.27% | 196,160 | SH |
| 39 | SL Green Realty Corp. | SLG | 78440X887 | $3.9M | 0.27% | 104,960 | SH |
| 40 | Crown Castle Inc | CCI | 22822V101 | $3.2M | 0.22% | 38,976 | SH |
| 41 | Rayonier Inc | RYN | 754907103 | $1.6M | 0.11% | 78,915 | SH |
| 42 | Hilton, Inc. | HLT | 43300A203 | $1.2M | 0.08% | 60,851 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-18 | $1.46B | 42 | 0001067926-26-000004 |
| 2025-12-31 | 2026-02-18 | $1.48B | 42 | 0001067926-26-000003 |
| 2025-09-30 | 2025-11-17 | $1.50B | 43 | 0001067926-25-000009 |