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Adelante Capital Management LLC

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13F filer, CIK 1067926, ALAMEDA, CA

Adelante Capital Management LLC reported $1,462,453,363 across 42 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-18. Its ten largest share positions make up 65.22% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001067926-26-000004

Period
2026-03-31
Reported value
$1.46B
Holdings
42
Top 10 weight
65.22%
New
4
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MACnew+430,485$8.14M
JANnew+309,963$7.31M
EPRTadded+238,816$7.25M
MRPadded+223,423$6.26M
MAAadded+40,404$4.93M

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
AMHreduced-396,348-$11.1M
VREexited-737,176-$11M
CUZexited-285,108-$7.35M
VICIreduced-254,801-$6.96M
VTRreduced-79,031-$6.46M

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, Q1 2026

Share positions as resolved from 13F-HR 0001067926-26-000004, largest first. % of portfolio is the value over $1,462,453,363, 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; 2024Q2: restricted; 2024Q3: 1,162,695 shares; 2024Q4: 1,171,232 shares; 2025Q1: 963,730 shares; 2025Q2: 981,590 shares; 2025Q3: 979,382 shares; 2025Q4: 1,005,930 shares; 2026Q1: 1,029,079 shares 1,029,079$203M13.91%+23,149Timeline
PLDPROLOGIS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,523,733 shares; 2024Q4: 1,400,344 shares; 2025Q1: 1,205,055 shares; 2025Q2: 1,167,878 shares; 2025Q3: 1,272,288 shares; 2025Q4: 1,330,380 shares; 2026Q1: 1,321,965 shares 1,321,965$175M11.95%-8,415Timeline
EQIXEQUINIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 160,850 shares; 2024Q4: 151,087 shares; 2025Q1: 143,114 shares; 2025Q2: 140,006 shares; 2025Q3: 125,234 shares; 2025Q4: 127,773 shares; 2026Q1: 131,207 shares 131,207$129M8.79%+3,434Timeline
DLRDIGITAL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 465,127 shares; 2024Q4: 507,703 shares; 2025Q1: 427,306 shares; 2025Q2: 407,136 shares; 2025Q3: 463,235 shares; 2025Q4: 476,430 shares; 2026Q1: 478,296 shares 478,296$86.2M5.89%+1,866Timeline
SPGSIMON PPTY GROUP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 516,313 shares; 2024Q4: 535,740 shares; 2025Q1: 386,479 shares; 2025Q2: 368,002 shares; 2025Q3: 449,344 shares; 2025Q4: 483,043 shares; 2026Q1: 449,333 shares 449,333$83.8M5.73%-33,710Timeline
OREALTY INCOME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 66,501 shares; 2024Q4: 58,145 shares; 2025Q1: 860,671 shares; 2025Q2: 1,081,406 shares; 2025Q3: 1,135,259 shares; 2025Q4: 1,210,086 shares; 2026Q1: 1,193,546 shares 1,193,546$73M4.99%-16,540Timeline
AVBAVALONBAY CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 404,045 shares; 2024Q4: 400,444 shares; 2025Q1: 344,822 shares; 2025Q2: 341,855 shares; 2025Q3: 340,288 shares; 2025Q4: 317,906 shares; 2026Q1: 325,177 shares 325,177$53.1M3.63%+7,271Timeline
VMRKVIVMARK RESIDENTIALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,119,711 shares; 2024Q4: 1,077,337 shares; 2025Q1: 929,789 shares; 2025Q2: 780,332 shares; 2025Q3: 878,252 shares; 2025Q4: 855,472 shares; 2026Q1: 894,206 shares 894,206$52.9M3.62%+38,734Timeline
VTRVENTAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 599,644 shares; 2024Q4: 522,956 shares; 2025Q1: 488,664 shares; 2025Q2: 613,415 shares; 2025Q3: 661,909 shares; 2025Q4: 695,237 shares; 2026Q1: 616,206 shares 616,206$50.4M3.45%-79,031Timeline
BKDBROOKDALE SR LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,107,944 shares; 2024Q4: 1,625,835 shares; 2025Q1: 1,502,850 shares; 2025Q2: 1,119,470 shares; 2025Q3: 1,013,181 shares; 2025Q4: 1,088,545 shares; 2026Q1: 1,027,392 shares 1,027,392$47.6M3.26%-61,153Timeline
KIMKIMCO REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,789,363 shares; 2024Q4: 2,317,331 shares; 2025Q1: 2,163,571 shares; 2025Q2: 2,134,766 shares; 2025Q3: 2,000,750 shares; 2025Q4: 1,979,607 shares; 2026Q1: 1,906,033 shares 1,906,033$42.8M2.93%-73,574Timeline
IRMIRON MTN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 397,223 shares; 2024Q4: 445,897 shares; 2025Q1: 390,346 shares; 2025Q2: 403,205 shares; 2025Q3: 386,285 shares; 2025Q4: 339,227 shares; 2026Q1: 356,934 shares 356,934$36.5M2.49%+17,707Timeline
BRXBRIXMOR PPTY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,919,660 shares; 2024Q4: 606,342 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,113,830 shares; 2025Q4: 1,256,794 shares; 2026Q1: 1,257,485 shares 1,257,485$36.2M2.48%+691Timeline
ELSEQUITY LIFESTYLE PROPERTIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 432,580 shares; 2024Q4: 429,028 shares; 2025Q1: 634,637 shares; 2025Q2: 674,425 shares; 2025Q3: 634,055 shares; 2025Q4: 579,880 shares; 2026Q1: 553,063 shares 553,063$34.5M2.36%-26,817Timeline
VICIVICI PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 182,239 shares; 2024Q4: 148,132 shares; 2025Q1: 1,424,836 shares; 2025Q2: 1,631,912 shares; 2025Q3: 1,521,457 shares; 2025Q4: 1,490,427 shares; 2026Q1: 1,235,626 shares 1,235,626$33.8M2.31%-254,801Timeline
ADCAGREE RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 11,885 shares; 2025Q1: 370,652 shares; 2025Q2: 427,610 shares; 2025Q3: 441,605 shares; 2025Q4: 438,415 shares; 2026Q1: 440,181 shares 440,181$33.2M2.27%+1,766Timeline
FRFIRST INDL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 212,092 shares; 2024Q4: 244,443 shares; 2025Q1: 399,043 shares; 2025Q2: 394,445 shares; 2025Q3: 397,648 shares; 2025Q4: 474,066 shares; 2026Q1: 544,609 shares 544,609$31.5M2.15%+70,543Timeline
AMHAMERICAN HOMES 4 RENTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 761,980 shares; 2024Q4: 837,803 shares; 2025Q1: 913,578 shares; 2025Q2: 830,542 shares; 2025Q3: 912,001 shares; 2025Q4: 1,300,347 shares; 2026Q1: 903,999 shares 903,999$25.2M1.73%-396,348Timeline
VNOVORNADO RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 303,299 shares; 2024Q4: 297,058 shares; 2025Q1: 287,797 shares; 2025Q2: 361,948 shares; 2025Q3: 370,941 shares; 2025Q4: 647,857 shares; 2026Q1: 798,184 shares 798,184$20.7M1.42%+150,327Timeline
RHPRYMAN HOSPITALITY PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 280,595 shares; 2024Q4: 348,890 shares; 2025Q1: 302,992 shares; 2025Q2: 260,178 shares; 2025Q3: 171,496 shares; 2025Q4: 184,398 shares; 2026Q1: 218,849 shares 218,849$20.2M1.38%+34,451Timeline
EPRTESSENTIAL PPTYS RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 48,043 shares; 2024Q4: 47,763 shares; 2025Q1: 636,179 shares; 2025Q2: 487,395 shares; 2025Q3: 506,994 shares; 2025Q4: 411,313 shares; 2026Q1: 650,129 shares 650,129$19.7M1.35%+238,816Timeline
MAAMID-AMER APT CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 137,919 shares; 2024Q4: 128,120 shares; 2025Q1: 70,612 shares; 2025Q2: 128,589 shares; 2025Q3: 117,764 shares; 2025Q4: 115,761 shares; 2026Q1: 156,165 shares 156,165$19.1M1.3%+40,404Timeline
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 49,994 shares; 2024Q4: 45,309 shares; 2025Q1: 29,858 shares; 2025Q2: 27,865 shares; 2025Q3: 26,465 shares; 2025Q4: 109,094 shares; 2026Q1: 132,094 shares 132,094$17.9M1.22%+23,000Timeline
AREALEXANDRIA REAL ESTATE EQ INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 225,014 shares; 2024Q4: 357,889 shares; 2025Q1: 94,287 shares; 2025Q2: 202,726 shares; 2025Q3: 72,405 shares; 2025Q4: 397,289 shares; 2026Q1: 357,450 shares 357,450$16.6M1.13%-39,839Timeline
CTRECARETRUST REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 340,197 shares; 2025Q4: 391,935 shares; 2026Q1: 352,462 shares 352,462$12.9M0.88%-39,473Timeline
MRPMILLROSE PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 220,567 shares; 2026Q1: 443,990 shares 443,990$12.4M0.85%+223,423Timeline
PSAPUBLIC STORAGEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 290,842 shares; 2024Q4: 286,811 shares; 2025Q1: 250,826 shares; 2025Q2: 244,857 shares; 2025Q3: 235,117 shares; 2025Q4: 241,215 shares; 2026Q1: 265,447 shares 265,447$11.2M0.77%+24,232Timeline
IVTINVENTRUST PPTYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 481,437 shares; 2024Q4: 424,769 shares; 2025Q1: 362,173 shares; 2025Q2: 364,286 shares; 2025Q3: 335,032 shares; 2025Q4: 329,783 shares; 2026Q1: 330,036 shares 330,036$10.1M0.69%+253Timeline
AMTAMERICAN TOWER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 38,527 shares; 2024Q4: 39,844 shares; 2025Q1: 63,158 shares; 2025Q2: 62,998 shares; 2025Q3: 57,567 shares; 2025Q4: 56,840 shares; 2026Q1: 54,289 shares 54,289$9.37M0.64%-2,551Timeline
EGPEASTGROUP PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 195,583 shares; 2024Q4: 215,909 shares; 2025Q1: 168,269 shares; 2025Q2: 191,849 shares; 2025Q3: 75,778 shares; 2025Q4: 67,903 shares; 2026Q1: 47,333 shares 47,333$8.76M0.6%-20,570Timeline
MACMACERICH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 430,485 shares 430,485$8.14M0.56%newTimeline
COLDAMERICOLD REALTY TRUST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 347,556 shares; 2024Q4: 441,492 shares; 2025Q1: 465,202 shares; 2025Q2: 469,411 shares; 2025Q3: 574,892 shares; 2025Q4: 670,301 shares; 2026Q1: 670,972 shares 670,972$7.69M0.53%+671Timeline
JANJANUS LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 309,963 shares 309,963$7.31M0.5%newTimeline
LAMRLAMAR ADVERTISING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 53,679 shares; 2024Q4: 59,763 shares; 2025Q1: 54,787 shares; 2025Q2: 42,589 shares; 2025Q3: 47,825 shares; 2025Q4: 48,651 shares; 2026Q1: 52,290 shares 52,290$6.62M0.45%+3,639Timeline
SUISUN CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 154,958 shares; 2024Q4: 159,147 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 32,940 shares 32,940$4.15M0.28%newTimeline
CSRCENTERSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 72,059 shares; 2026Q1: 72,201 shares 72,201$4.15M0.28%+142Timeline
BXPBXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 584,471 shares; 2024Q4: 559,494 shares; 2025Q1: 383,958 shares; 2025Q2: 131,341 shares; 2025Q3: 285,339 shares; 2025Q4: 75,363 shares; 2026Q1: 78,363 shares 78,363$4.07M0.28%+3,000Timeline
EXREXTRA SPACE STORAGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 276,236 shares; 2024Q4: 291,112 shares; 2025Q1: 186,050 shares; 2025Q2: 243,070 shares; 2025Q3: 238,341 shares; 2025Q4: 221,431 shares; 2026Q1: 196,160 shares 196,160$3.88M0.27%-25,271Timeline
SLGSL GREEN RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 96,825 shares; 2026Q1: 104,960 shares 104,960$3.88M0.27%+8,135Timeline
CCICROWN CASTLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 15,776 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 42,486 shares; 2025Q4: 40,940 shares; 2026Q1: 38,976 shares 38,976$3.17M0.22%-1,964Timeline
RYNRAYONIER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 78,915 shares 78,915$1.63M0.11%newTimeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 3,488 shares; 2024Q4: 3,371 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 67,494 shares; 2026Q1: 60,851 shares 60,851$1.23M0.08%-6,643Timeline

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
VREVERIS RESIDENTIAL INC737,176$11Mshares
CUZCOUSINS PPTYS INC285,108$7.35Mshares
KRCKILROY REALTY CORP136,904$5.12Mshares
PCHPOTLATCHDELTIC CORP45,393$1.92Mshares

How Q1 2026 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 0001067926-26-000004 base2026-05-18acceptance time not in the bulk data set