Skip to content
Disclosery

Adelante Capital Management LLC

Follow

13F filer, CIK 1067926, ALAMEDA, CA

Adelante Capital Management LLC reported $1,358,543,081 across 42 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-15. Its ten largest share positions make up 56.11% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001067926-25-000008

Period
2025-06-30
Reported value
$1.36B
Holdings
42
Top 10 weight
56.11%
New
1
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
HPPnew+3,043,383$60.3M
Oadded+220,735$12.7M
MAAadded+57,977$8.58M
EXRadded+57,020$8.41M
VTRadded+124,751$7.88M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BXPreduced-252,617-$17M
VMRKreduced-149,457-$10.1M
DOCreduced-417,483-$7.31M
OHIreduced-188,990-$6.93M
EPRTreduced-148,784-$4.75M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001067926-25-000008, largest first. % of portfolio is the value over $1,358,547,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
WELLWELLTOWER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,162,695 shares; 2024Q4: 1,171,232 shares; 2025Q1: 963,730 shares; 2025Q2: 981,590 shares 981,590$151M11.11%+17,860Timeline
EQIXEQUINIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,850 shares; 2024Q4: 151,087 shares; 2025Q1: 143,114 shares; 2025Q2: 140,006 shares 140,006$111M8.2%-3,108Timeline
PSAPUBLIC STORAGEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 290,842 shares; 2024Q4: 286,811 shares; 2025Q1: 250,826 shares; 2025Q2: 244,857 shares 244,857$71.8M5.29%-5,969Timeline
DLRDIGITAL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 465,127 shares; 2024Q4: 507,703 shares; 2025Q1: 427,306 shares; 2025Q2: 407,136 shares 407,136$71M5.22%-20,170Timeline
AVBAVALONBAY CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 404,045 shares; 2024Q4: 400,444 shares; 2025Q1: 344,822 shares; 2025Q2: 341,855 shares 341,855$69.6M5.12%-2,967Timeline
OREALTY INCOME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 66,501 shares; 2024Q4: 58,145 shares; 2025Q1: 860,671 shares; 2025Q2: 1,081,406 shares 1,081,406$62.3M4.59%+220,735Timeline
HPPHUDSON PAC PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,043,383 shares 3,043,383$60.3M4.44%newTimeline
SPGSIMON PPTY GROUP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 516,313 shares; 2024Q4: 535,740 shares; 2025Q1: 386,479 shares; 2025Q2: 368,002 shares 368,002$59.2M4.35%-18,477Timeline
VICIVICI PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 182,239 shares; 2024Q4: 148,132 shares; 2025Q1: 1,424,836 shares; 2025Q2: 1,631,912 shares 1,631,912$53.2M3.92%+207,076Timeline
VMRKVIVMARK RESIDENTIALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,119,711 shares; 2024Q4: 1,077,337 shares; 2025Q1: 929,789 shares; 2025Q2: 780,332 shares 780,332$52.7M3.88%-149,457Timeline
KIMKIMCO REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,789,363 shares; 2024Q4: 2,317,331 shares; 2025Q1: 2,163,571 shares; 2025Q2: 2,134,766 shares 2,134,766$44.9M3.3%-28,805Timeline
ELSEQUITY LIFESTYLE PROPERTIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 432,580 shares; 2024Q4: 429,028 shares; 2025Q1: 634,637 shares; 2025Q2: 674,425 shares 674,425$41.6M3.06%+39,788Timeline
IRMIRON MTN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 397,223 shares; 2024Q4: 445,897 shares; 2025Q1: 390,346 shares; 2025Q2: 403,205 shares 403,205$41.4M3.04%+12,859Timeline
VTRVENTAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 599,644 shares; 2024Q4: 522,956 shares; 2025Q1: 488,664 shares; 2025Q2: 613,415 shares 613,415$38.7M2.85%+124,751Timeline
EXREXTRA SPACE STORAGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 276,236 shares; 2024Q4: 291,112 shares; 2025Q1: 186,050 shares; 2025Q2: 243,070 shares 243,070$35.8M2.64%+57,020Timeline
EGPEASTGROUP PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 195,583 shares; 2024Q4: 215,909 shares; 2025Q1: 168,269 shares; 2025Q2: 191,849 shares 191,849$32.1M2.36%+23,580Timeline
ADCAGREE RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 11,885 shares; 2025Q1: 370,652 shares; 2025Q2: 427,610 shares 427,610$31.2M2.3%+56,958Timeline
AMHAMERICAN HOMES 4 RENTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 761,980 shares; 2024Q4: 837,803 shares; 2025Q1: 913,578 shares; 2025Q2: 830,542 shares 830,542$30M2.21%-83,036Timeline
CUZCOUSINS PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 436,627 shares; 2025Q1: 682,499 shares; 2025Q2: 902,912 shares 902,912$27.1M2%+220,413Timeline
REGREGENCY CTRS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 330,024 shares; 2025Q1: 348,468 shares; 2025Q2: 376,117 shares 376,117$26.8M1.97%+27,649Timeline
RHPRYMAN HOSPITALITY PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 280,595 shares; 2024Q4: 348,890 shares; 2025Q1: 302,992 shares; 2025Q2: 260,178 shares 260,178$25.7M1.89%-42,814Timeline
PLDPROLOGIS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,523,733 shares; 2024Q4: 1,400,344 shares; 2025Q1: 1,205,055 shares; 2025Q2: 1,167,878 shares 1,167,878$20.8M1.53%-37,177Timeline
MAAMID-AMER APT CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 137,919 shares; 2024Q4: 128,120 shares; 2025Q1: 70,612 shares; 2025Q2: 128,589 shares 128,589$19M1.4%+57,977Timeline
FRFIRST INDL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 212,092 shares; 2024Q4: 244,443 shares; 2025Q1: 399,043 shares; 2025Q2: 394,445 shares 394,445$19M1.4%-4,598Timeline
EPRTESSENTIAL PPTYS RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,043 shares; 2024Q4: 47,763 shares; 2025Q1: 636,179 shares; 2025Q2: 487,395 shares 487,395$15.6M1.14%-148,784Timeline
AREALEXANDRIA REAL ESTATE EQ INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 225,014 shares; 2024Q4: 357,889 shares; 2025Q1: 94,287 shares; 2025Q2: 202,726 shares 202,726$14.7M1.08%+108,439Timeline
AMTAMERICAN TOWER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 38,527 shares; 2024Q4: 39,844 shares; 2025Q1: 63,158 shares; 2025Q2: 62,998 shares 62,998$13.9M1.02%-160Timeline
VNOVORNADO RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 303,299 shares; 2024Q4: 297,058 shares; 2025Q1: 287,797 shares; 2025Q2: 361,948 shares 361,948$13.8M1.02%+74,151Timeline
DOCHEALTHPEAK PROPERTIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 837,739 shares; 2024Q4: 26,052 shares; 2025Q1: 1,189,069 shares; 2025Q2: 771,586 shares 771,586$13.5M0.99%-417,483Timeline
VREVERIS RESIDENTIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 507,736 shares; 2024Q4: 625,229 shares; 2025Q1: 616,656 shares; 2025Q2: 737,945 shares 737,945$11M0.81%+121,289Timeline
MARMARRIOTT INTL INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 65,625 shares; 2024Q4: 48,658 shares; 2025Q1: 44,174 shares; 2025Q2: 38,637 shares 38,637$10.6M0.78%-5,537Timeline
IVTINVENTRUST PPTYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 481,437 shares; 2024Q4: 424,769 shares; 2025Q1: 362,173 shares; 2025Q2: 364,286 shares 364,286$9.98M0.73%+2,113Timeline
INVHINVITATION HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 912,563 shares; 2024Q4: 718,041 shares; 2025Q1: 351,142 shares; 2025Q2: 467,453 shares 467,453$9.47M0.7%+116,311Timeline
BXPBXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 584,471 shares; 2024Q4: 559,494 shares; 2025Q1: 383,958 shares; 2025Q2: 131,341 shares 131,341$8.86M0.65%-252,617Timeline
SKTTANGER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 281,084 shares; 2025Q2: 268,040 shares 268,040$8.2M0.6%-13,044Timeline
COLDAMERICOLD REALTY TRUST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 347,556 shares; 2024Q4: 441,492 shares; 2025Q1: 465,202 shares; 2025Q2: 469,411 shares 469,411$7.81M0.57%+4,209Timeline
BKDBROOKDALE SR LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,107,944 shares; 2024Q4: 1,625,835 shares; 2025Q1: 1,502,850 shares; 2025Q2: 1,119,470 shares 1,119,470$7.79M0.57%-383,380Timeline
OHIOMEGA HEALTHCARE INVS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 190,873 shares; 2024Q4: 438,626 shares; 2025Q1: 337,195 shares; 2025Q2: 148,205 shares 148,205$5.43M0.4%-188,990Timeline
LAMRLAMAR ADVERTISING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 53,679 shares; 2024Q4: 59,763 shares; 2025Q1: 54,787 shares; 2025Q2: 42,589 shares 42,589$5.17M0.38%-12,198Timeline
SBACSBA COMMUNICATIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,820 shares; 2025Q1: 12,603 shares; 2025Q2: 13,765 shares 13,765$3.23M0.24%+1,162Timeline
PCHPOTLATCHDELTIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,840 shares; 2024Q4: 33,880 shares; 2025Q1: 48,708 shares; 2025Q2: 48,622 shares 48,622$1.87M0.14%-86Timeline
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,994 shares; 2024Q4: 45,309 shares; 2025Q1: 29,858 shares; 2025Q2: 27,865 shares 27,865$1.29M0.1%-1,993Timeline

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001067926-25-000008 base2025-08-15acceptance time not in the bulk data set