Latest Adelante Capital Management LLC Stock Portfolio

Adelante Capital Management LLC Performance:

2025 Q4: -1.67%YTD: -1.35%2024: 12.32%

Performance for 2025 Q4 is -1.67%, and YTD is -1.35%, and 2024 is 12.32%.

About Adelante Capital Management LLC and 13F Hedge Fund Stock Holdings

On 2026-02-18, the fund reported it's updated stock portfolio. In the 13F Holdings report, Adelante Capital Management LLC reported an equity portfolio of $1.5 Billions as of 31 Dec, 2025.

The top stock holdings of Adelante Capital Management LLC are WELL, PLD, EQIX. The fund has invested 12.6% of it's portfolio in WELLTOWER INC. and 11.4% of portfolio in PROLOGIS INC.

The fund managers got completely rid off HEALTHPEAK PROPERTIES (PEAK), HOST HOTELS & RESORTS, INC. (HST) and TERRENO REALTY CORP (TRNO) stocks. They significantly reduced their stock positions in BXP, INC. (BXP), KILROY REALTY (KRC) and ESSENTIAL PROPERTIES REALTY (EPRT). Adelante Capital Management LLC opened new stock positions in HILTON, INC. (HLT), MILLROSE PROPERTIES and CENTERSPACE (CSR). The fund showed a lot of confidence in some stocks as they added substantially to ALEXANDRIA REAL ESTATE EQUITIE (ARE), CBRE GROUP (CBRE) and VORNADO REALTY TRUST (VNO).

Adelante Capital Management LLC Annual Return Estimates Vs S&P 500

Our best estimate is that Adelante Capital Management LLC made a return of -1.67% in the last quarter. In trailing 12 months, it's portfolio return was -1.35%.

Performance
S&P 500

New Buys

Ticker	$ Bought
hilton, inc.	19,387,300
millrose properties	6,588,210
centerspace	4,808,000
sl green realty corp.	4,441,000

New stocks bought by Adelante Capital Management LLC

Additions

Ticker	% Inc.
alexandria real estate equitie	448
cbre group	312
vornado realty trust	74.65
american homes 4 rent	42.58
first industrial realty trust,	19.22
americold realty trust	16.6
caretrust reit inc	15.21
brixmor property group	12.84

Additions to existing portfolio by Adelante Capital Management LLC

Reductions

Ticker	% Reduced
bxp, inc.	-73.59
kilroy realty	-58.25
essential properties realty	-18.87
potlach corp	-14.91
iron mountain	-12.18
eastgroup properties	-10.39
equity lifestyle properties	-8.54
extra space storage, inc.	-7.09

Adelante Capital Management LLC reduced stake in above stock

Sold off

Ticker	$ Sold
host hotels & resorts, inc.	-22,860,500
healthpeak properties	-26,463,600
invitation homes inc	-14,046,300
terreno realty corp	-16,070,100
omega healthcare investors	-352,833

Adelante Capital Management LLC got rid off the above stocks

Sector Distribution

Adelante Capital Management LLC has about 94.9% of it's holdings in Real Estate sector.

Sector	%
Real Estate	94.9
Healthcare	3.4
Consumer Cyclical	1.3

Market Cap. Distribution

Adelante Capital Management LLC has about 81.8% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	81.8
MID-CAP	16.7
SMALL-CAP	1.1

Stocks belong to which Index?

About 85.3% of the stocks held by Adelante Capital Management LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	77.1
Others	14.7
RUSSELL 2000	8.2

Top 5 Winners (%)		%
EXR	extra space storage, inc.	537.9 %
PLD	prologis inc.	11.2 %
VTR	ventas, inc.	10.3 %
RHP	ryman hospitality properties	5.4 %
EGP	eastgroup properties	5.0 %

Top 5 Winners ($)		$
EXR	extra space storage, inc.	25.4 M
PLD	prologis inc.	17.1 M
WELL	welltower inc.	7.4 M
VTR	ventas, inc.	5.0 M
RHP	ryman hospitality properties	0.9 M

Top 5 Losers (%)		%
FR	first industrial realty trust,	-58.6 %
EPRT	essential properties realty	-30.3 %
ARE	alexandria real estate equitie	-29.4 %
IRM	iron mountain	-17.5 %
VNO	vornado realty trust	-14.6 %

Top 5 Losers ($)		$
FR	first industrial realty trust,	-13.6 M
DLR	digital realty trust	-8.5 M
ARE	alexandria real estate equitie	-8.1 M
PSA	public storage	-7.0 M
IRM	iron mountain	-6.9 M

Adelante Capital Management LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Adelante Capital Management LLC

Adelante Capital Management LLC has 42 stocks in it's portfolio. About 61.6% of the portfolio is in top 10 stocks. FR proved to be the most loss making stock for the portfolio. EXR was the most profitable stock for Adelante Capital Management LLC last quarter.

Last Reported on: 18 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ADC	agree realty corporation	2.13	438,415	31,578,700	reduced	-0.72

AMH	american homes 4 rent	2.81	1,300,350	41,741,100	added	42.58

AMT	american tower corp.	0.67	56,840	9,979,000	reduced	-1.26

ARE	alexandria real estate equitie	1.31	397,289	19,443,000	added	448

AVB	avalonbay communities, inc.	3.88	317,906	57,639,200	reduced	-6.58

BKD	brookdale senior living	3.40	1,088,540	50,454,100	added	7.44

BRX	brixmor property group	2.22	1,256,790	32,953,100	added	12.84

BXP	bxp, inc.	0.34	75,363	5,085,000	reduced	-73.59

CBRE	cbre group	1.18	109,094	17,541,500	added	312

CCI	crown castle inc	0.24	40,940	3,638,000	reduced	-3.64

COLD	americold realty trust	0.58	670,301	8,619,990	added	16.6

CSR	centerspace	0.32	72,059	4,808,000	new

CTRE	caretrust reit inc	0.96	391,935	14,172,300	added	15.21

CUZ	cousins properties, inc.	0.50	285,108	7,350,000	reduced	-1.42

DLR	digital realty trust	4.97	476,430	73,708,100	added	2.85

EGP	eastgroup properties	0.81	67,903	12,096,000	reduced	-10.39

ELS	equity lifestyle properties	2.37	579,880	35,146,800	reduced	-8.54

EPRT	essential properties realty	0.55	411,313	8,144,000	reduced	-18.87

EQIX	equinix inc.	6.60	127,773	97,895,000	added	2.03

EQR	equity residential	3.63	855,472	53,929,100	reduced	-2.59