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Adelante Capital Management LLC

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13F filer, CIK 1067926, ALAMEDA, CA

Adelante Capital Management LLC reported $1,520,992,759 across 42 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-17. Its ten largest share positions make up 64% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001067926-26-000005

Period
2026-06-30
Reported value
$1.52B
Holdings
42
Top 10 weight
64%
New
5
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FRTnew+222,622$27.5M
DOCnew+1,009,623$21.6M
ESSnew+67,992$19.8M
LAMRadded+70,304$11M
CTREadded+193,031$7.79M

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
KIMreduced-1,166,949-$29.6M
AREreduced-289,165-$15.3M
WELLreduced-56,610-$12.8M
VMRKreduced-171,111-$11.6M
BKDreduced-522,982-$8.41M

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 2026

Share positions as resolved from 13F-HR 0001067926-26-000005, largest first. % of portfolio is the value over $1,520,992,758, 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; 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; 2026Q2: 972,469 shares 972,469$221M14.51%-56,610Timeline
PLDPROLOGIS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 1,274,473 shares 1,274,473$173M11.35%-47,492Timeline
EQIXEQUINIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 123,901 shares 123,901$129M8.49%-7,306Timeline
SPGSIMON PPTY GROUP INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 417,092 shares 417,092$93.3M6.13%-32,241Timeline
DLRDIGITAL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 487,419 shares 487,419$87.5M5.75%+9,123Timeline
OREALTY INCOME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 1,163,890 shares 1,163,890$72.1M4.74%-29,656Timeline
AVBAVALONBAY CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 291,487 shares 291,487$55M3.62%-33,690Timeline
VTRVENTAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 593,888 shares 593,888$52.7M3.47%-22,318Timeline
VMRKVIVMARK RESIDENTIALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 723,095 shares 723,095$49.1M3.23%-171,111Timeline
IRMIRON MTN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 325,641 shares 325,641$41.1M2.7%-31,293Timeline
ELSEQUITY LIFESTYLE PROPERTIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 615,154 shares 615,154$39.6M2.61%+62,091Timeline
BRXBRIXMOR PPTY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 1,148,695 shares 1,148,695$36.2M2.38%-108,790Timeline
VICIVICI PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 1,338,445 shares 1,338,445$35.5M2.34%+102,819Timeline
ADCAGREE RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 430,209 shares 430,209$32.6M2.14%-9,972Timeline
AMHAMERICAN HOMES 4 RENTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 846,202 shares 846,202$28.4M1.86%-57,797Timeline
EXREXTRA SPACE STORAGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 189,610 shares 189,610$27.6M1.81%-6,550Timeline
FRTFEDERAL RLTY INVT TR NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 222,622 shares 222,622$27.5M1.81%newTimeline
VNOVORNADO RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 687,780 shares 687,780$27M1.78%-110,404Timeline
RHPRYMAN HOSPITALITY PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 199,884 shares 199,884$25.7M1.69%-18,965Timeline
CTRECARETRUST REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 340,197 shares; 2025Q4: 391,935 shares; 2026Q1: 352,462 shares; 2026Q2: 545,493 shares 545,493$22M1.45%+193,031Timeline
MAAMID-AMER APT CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 157,364 shares 157,364$21.9M1.44%+1,199Timeline
DOCHEALTHPEAK PROPERTIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 837,739 shares; 2024Q4: 26,052 shares; 2025Q1: 1,189,069 shares; 2025Q2: 771,586 shares; 2025Q3: 1,305,556 shares; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 1,009,623 shares 1,009,623$21.6M1.42%newTimeline
ESSESSEX PPTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,099 shares; 2024Q4: 2,161 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 67,992 shares 67,992$19.8M1.3%newTimeline
LAMRLAMAR ADVERTISING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 122,594 shares 122,594$19.1M1.26%+70,304Timeline
KIMKIMCO REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 739,084 shares 739,084$18.7M1.23%-1,166,949Timeline
EPRTESSENTIAL PPTYS RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 549,615 shares 549,615$16.4M1.08%-100,514Timeline
JANJANUS LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 309,963 shares; 2026Q2: 544,072 shares 544,072$15.6M1.03%+234,109Timeline
IVTINVENTRUST PPTYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 378,545 shares 378,545$13.4M0.88%+48,509Timeline
MACMACERICH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 430,485 shares; 2026Q2: 499,198 shares 499,198$12.6M0.83%+68,713Timeline
MRPMILLROSE PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 220,567 shares; 2026Q1: 443,990 shares; 2026Q2: 410,847 shares 410,847$12.3M0.81%-33,143Timeline
FRFIRST INDL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 576,611 shares 576,611$11.4M0.75%+32,002Timeline
PSAPUBLIC STORAGEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 245,064 shares 245,064$10.3M0.68%-20,383Timeline
EGPEASTGROUP PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 43,962 shares 43,962$8.9M0.59%-3,371Timeline
AMTAMERICAN TOWER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 52,165 shares 52,165$8.53M0.56%-2,124Timeline
BKDBROOKDALE SR LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 504,410 shares 504,410$8.12M0.53%-522,982Timeline
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 133,209 shares 133,209$6.17M0.41%+1,115Timeline
BXPBXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 84,018 shares 84,018$5.57M0.37%+5,655Timeline
SLGSL GREEN RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 96,825 shares; 2026Q1: 104,960 shares; 2026Q2: 106,160 shares 106,160$5.5M0.36%+1,200Timeline
AREALEXANDRIA REAL ESTATE EQ INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 68,285 shares 68,285$3.61M0.24%-289,165Timeline
SBACSBA COMMUNICATIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 8,820 shares; 2025Q1: 12,603 shares; 2025Q2: 13,765 shares; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 15,505 shares 15,505$2.74M0.18%newTimeline
WYWEYERHAEUSER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 64,703 shares 64,703$1.55M0.1%newTimeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2026Q2: 72,219 shares 72,219$1.46M0.1%+11,368Timeline

Sold out in Q2 2026

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

SecurityShares beforeValue beforeType
COLDAMERICOLD REALTY TRUST INC670,972$7.69Mshares
SUISUN CMNTYS INC32,940$4.15Mshares
CSRCENTERSPACE72,201$4.15Mshares
CCICROWN CASTLE INC38,976$3.17Mshares
RYNRAYONIER INC78,915$1.63Mshares

How Q2 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 0001067926-26-000005 base2026-08-17acceptance time not in the bulk data set