Adelante Capital Management LLC holds a focused book of 42 reported positions worth $1.5B as of Q2 2026 (disclosed Aug 17, 2026, a ~48-day 13F lag). This quarter they opened Federal Realty Invs Trust and trimmed Welltower Inc. Their largest long position is Welltower Inc at 15% of the reported non-option book. Cloning the disclosed picks since 2013 would be +196% (+8.8%/yr). That is a simulation of the disclosed long book, not audited returns.
The reported book (valued from quarter-end) returned +215.1%, a 18.6-point gap that is the cost of the ~48-day 13F disclosure lag a real follower can't avoid.
Growth of $10,000 cloning Adelante Capital Management LLC's disclosed long 13F book, rebalanced on each filing date (so it reflects each quarter's actual reporting lag, ~48 days for the latest filing, with no look-ahead), total-return basis (dividends reinvested), derived from end-of-day prices. “Their reported book” values the same picks from quarter-end, before they were public. S&P 500 is SPY total return over the same window. Excludes shorts, cash, options and non-13F holdings. Not investment advice.
Top-heavy: focused book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
100% mapped to company sectors
+1 sector below the cut, under 0.5% together
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices (an exit at the prior quarter-end), no cost basis
Other tracked managers holding the same core names as Adelante Capital Management LLC
| Manager / fund | Shared names | Their $ in those |
|---|---|---|
| Vert Asset Management LLC | 23 / 42 | $310.7M |
| Resolution Capital Ltd | 16 / 42 | $4.6B |
| Heitman Real Estate Securities LLC | 31 / 42 | $1.2B |
| Centersquare Investment Management LLC | 39 / 42 | $9.0B |
| GSI Capital Advisors LLC | 19 / 42 | $158.0M |
| Aew Capital Management L P | 21 / 42 | $1.2B |
| Lasalle Investment Management Securities LLC | 26 / 42 | $1.7B |
| Masterton Capital Management, LP | 10 / 42 | $74.2M |
Ranked by the share of each fund's own book sitting in the names it shares with Adelante Capital Management LLC: only funds sharing at least a tenth of the book qualify. Index giants, bank custody books and market makers are excluded. They hold everything, so their overlap says nothing.
Bars show each position's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Welltower Inc. COM | $220.7M | 972.5K | 14.5% | ▼−5.5% Reduced · −57K sh | |
| 2 | ProLogis Inc. COM | $172.7M | 1.27M | 11.4% | ▼−3.6% Reduced · −47K sh | |
| 3 | Equinix Inc. COM | $129.2M | 123.9K | 8.5% | ▼−5.6% Reduced · −7K sh | |
| 4 | Simon Property Group, Inc. COM | $93.3M | 417.1K | 6.1% | ▼−7.2% Reduced · −32K sh | |
| 5 | Digital Realty Trust COM | $87.5M | 487.4K | 5.8% | ▲+1.9% Added · +9K sh | |
| 6 | Realty Income COM | $72.1M | 1.16M | 4.7% | ▼−2.5% Reduced · −30K sh | |
| 7 | AvalonBay Communities, Inc. COM | $55.0M | 291.5K | 3.6% | ▼−10% Reduced · −34K sh | |
| 8 | Ventas, Inc. COM | $52.7M | 593.9K | 3.5% | ▼−3.6% Reduced · −22K sh | |
| 9 | Equity Residential COM | $49.1M | 723.1K | 3.2% | ▼−19% Reduced · −171K sh | |
| 10 | Iron Mountain COM | $41.1M | 325.6K | 2.7% | ▼−8.8% Reduced · −31K sh | |
| 11 | Equity Lifestyle Properties COM | $39.6M | 615.2K | 2.6% | ▲+11% Added · +62K sh | |
| 12 | Brixmor Property Group COM | $36.2M | 1.15M | 2.4% | ▼−8.7% Reduced · −109K sh | |
| 13 | Vici Properties COM | $35.5M | 1.34M | 2.3% | ▲+8.3% Added · +103K sh | |
| 14 | Agree Realty Corporation COM | $32.6M | 430.2K | 2.1% | ▼−2.3% Reduced · −10K sh | |
| 15 | American Homes 4 Rent COM | $28.4M | 846.2K | 1.9% | ▼−6.4% Reduced · −58K sh | |
| 16 | Extra Space Storage, Inc. COM | $27.6M | 189.6K | 1.8% | ▼−3.3% Reduced · −7K sh | |
| 17 | Federal Realty Investment Trus COM | $27.5M | 222.6K | 1.8% | ▲New New position | |
| 18 | Vornado Realty Trust COM | $27.0M | 687.8K | 1.8% | ▼−14% Reduced · −110K sh | |
| 19 | Ryman Hospitality Properties COM | $25.7M | 199.9K | 1.7% | ▼−8.7% Reduced · −19K sh | |
| 20 | Caretrust REIT Inc COM | $22.0M | 545.5K | 1.4% | ▲+55% Added · +193K sh | |
| 21 | Mid-America Apartment Communit COM | $21.9M | 157.4K | 1.4% | ▲+0.8% Added · +1K sh | |
| 22 | Healthpeak Properties COM | $21.6M | 1.01M | 1.4% | ▲New New position | |
| 23 | Essex Property Trust, Inc. COM | $19.8M | 68.0K | 1.3% | ▲New New position | |
| 24 | Lamar Advertising Co-A COM | $19.1M | 122.6K | 1.3% | ▲+134% Added · +70K sh | |
| 25 | Kimco Realty Corp. COM | $18.7M | 739.1K | 1.2% | ▼−61% Reduced · −1.2M sh | |
| 26 | Essential Properties Realty COM | $16.4M | 549.6K | 1.1% | ▼−15% Reduced · −101K sh | |
| 27 | Janus Living Inc COM | $15.6M | 544.1K | 1.0% | ▲+76% Added · +234K sh | |
| 28 | Inventrust Properties COM | $13.4M | 378.5K | 0.9% | ▲+15% Added · +49K sh | |
| 29 | The Macerich Company COM | $12.6M | 499.2K | 0.8% | ▲+16% Added · +69K sh | |
| 30 | Millrose Properties COM | $12.3M | 410.8K | 0.8% | ▼−7.5% Reduced · −33K sh | |
| 31 | First Industrial Realty Trust, COM | $11.4M | 576.6K | 0.8% | ▲+5.9% Added · +32K sh | |
| 32 | Public Storage COM | $10.3M | 245.1K | 0.7% | ▼−7.7% Reduced · −20K sh | |
| 33 | Eastgroup Properties COM | $8.9M | 44.0K | 0.6% | ▼−7.1% Reduced · −3K sh | |
| 34 | American Tower Corp. COM | $8.5M | 52.2K | 0.6% | ▼−3.9% Reduced · −2K sh | |
| 35 | Brookdale Senior Living COM | $8.1M | 504.4K | 0.5% | ▼−51% Reduced · −523K sh | |
| 36 | CBRE Group COM | $6.2M | 133.2K | 0.4% | ▲+0.8% Added · +1K sh | |
| 37 | BXP, Inc. COM | $5.6M | 84.0K | 0.4% | ▲+7.2% Added · +6K sh | |
| 38 | SL Green Realty Corp. COM | $5.5M | 106.2K | 0.4% | ▲+1.1% Added · +1K sh | |
| 39 | Alexandria Real Estate Equitie COM | $3.6M | 68.3K | 0.2% | ▼−81% Reduced · −289K sh | |
| 40 | SBA Communications COM | $2.7M | 15.5K | 0.2% | ▲New New position | |
| 41 | Weyerhauser COM | $1.5M | 64.7K | 0.1% | ▲New New position | |
| 42 | Hilton, Inc. COM | $1.5M | 72.2K | 0.1% | ▲+19% Added · +11K sh |
This fund page is the Follow view. The Build view lets your agent pull holdings, quarter changes, overlap, and source filings through API or MCP.
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Use Arkolith to show Adelante Capital Management LLC's latest holdings, largest changes, and filing provenance.
As-of date vs the date the SEC received each filing
Reported 13F total per quarter. Raw filing totals can include option notional.
| Quarter | As of | Filed | Lag | Positions | Value | Form |
|---|---|---|---|---|---|---|
| Q2 2026 | Jun 30, 2026 | Aug 17, 2026 | 48d | 42 | $1.5B | 13F-HR |
| Q1 2026 | Mar 31, 2026 | May 18, 2026 | 48d | 42 | $1.5B | 13F-HR |
| Q4 2025 | Dec 31, 2025 | Feb 18, 2026 | 49d | 42 | $1.5B | 13F-HR |
| Q3 2025 | Sep 30, 2025 | Nov 17, 2025 | 48d | 43 | $1.5B | 13F-HR |
| Q2 2025 | Jun 30, 2025 | Aug 15, 2025 | 46d | 42 | $1.4B | 13F-HR |
| Q1 2025 | Mar 31, 2025 | May 16, 2025 | 46d | 41 | $1.3B | 13F-HR |
| Q4 2024 | Dec 31, 2024 | Feb 14, 2025 | 45d | 45 | $1.5B | 13F-HR |
| Q3 2024 | Sep 30, 2024 | Feb 24, 2025 | 147d | 42 | $1.5B | 13F-HR/A |
| Q2 2024 | Jun 30, 2024 | Aug 14, 2024 | 45d | 42 | $1.3B | 13F-HR |
| Q1 2024 | Mar 31, 2024 | May 15, 2024 | 45d | 43 | $1.5B | 13F-HR |
| Q4 2023 | Dec 31, 2023 | Feb 15, 2024 | 46d | 44 | $1.4B | 13F-HR |
| Q3 2023 | Sep 30, 2023 | Nov 15, 2023 | 46d | 44 | $1.2B | 13F-HR |
| Q2 2023 | Jun 30, 2023 | Aug 14, 2023 | 45d | 45 | $1.1B | 13F-HR |
| Q1 2023 | Mar 31, 2023 | May 16, 2023 | 46d | 44 | $1.1B | 13F-HR |
| Q4 2022 | Dec 31, 2022 | Feb 15, 2023 | 46d | 43 | $1.2B | 13F-HR |
| Q3 2022 | Sep 30, 2022 | Nov 15, 2022 | 46d | 44 | $1.3B | 13F-HR |
| Q2 2022 | Jun 30, 2022 | Aug 17, 2022 | 48d | 43 | $1.7B | 13F-HR/A |
| Q1 2022 | Mar 31, 2022 | May 16, 2022 | 46d | 45 | $2.0B | 13F-HR |
| Q4 2021 | Dec 31, 2021 | Feb 14, 2022 | 45d | 48 | $2.3B | 13F-HR |
| Q3 2021 | Sep 30, 2021 | Nov 15, 2021 | 46d | 44 | $2.0B | 13F-HR |
| Q2 2021 | Jun 30, 2021 | Aug 17, 2021 | 48d | 44 | $1.9B | 13F-HR |
| Q1 2021 | Mar 31, 2021 | May 17, 2021 | 47d | 35 | $1.6B | 13F-HR |
Holdings from SEC EDGAR 13F-HR filings, updated quarterly, filed up to 45 days after quarter-end. Public domain. Book totals and portfolio weights cover reported non-option positions, which can include notes and warrants. Disclosed put/call options are listed separately and excluded from those totals. The performance line is a simulation of the disclosed long book, not an audited return.