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HGI Capital Management, LLC

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13F filer, CIK 1595907, NEW YORK, NY

HGI Capital Management, LLC reported $80,152,899 across 22 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 62.92% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001595907-25-000002

Period
2025-03-31
Reported value
$80.2M
Holdings
22
Top 10 weight
62.92%
New
12
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VICInew+187,878$6.13M
FRadded+87,248$4.71M
WDnew+49,817$4.25M
ESSnew+13,078$4.01M
SAFEnew+196,746$3.68M

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
ELMEexited-2,141,094-$32.7M
INVHexited-203,391-$6.5M
COLDexited-218,640-$4.68M
HSTexited-258,887-$4.54M
CUSHMAN WAKEFIELD PLCexited-235,235-$3.08M

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 2025

Share positions as resolved from 13F-HR 0001595907-25-000002, largest first. % of portfolio is the value over $80,152,899, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VMRKVIVMARK RESIDENTIALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 57,499 shares; 2024Q1: 71,927 shares; 2024Q2: 71,927 shares; 2024Q3: 108,886 shares; 2024Q4: 102,725 shares; 2025Q1: 96,699 shares 96,699$6.92M8.64%-6,026Timeline
FRFIRST INDL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 80,265 shares; 2024Q1: 98,507 shares; 2024Q2: 82,561 shares; 2024Q3: 31,450 shares; 2024Q4: 36,680 shares; 2025Q1: 123,928 shares 123,928$6.69M8.34%+87,248Timeline
VICIVICI PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 54,321 shares; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 100,554 shares; 2024Q4: not reported; 2025Q1: 187,878 shares 187,878$6.13M7.65%newTimeline
VTRVENTAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 87,209 shares; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 97,133 shares; 2025Q1: 88,337 shares 88,337$6.07M7.58%-8,796Timeline
VREVERIS RESIDENTIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 219,631 shares; 2024Q3: 266,707 shares; 2024Q4: 266,707 shares; 2025Q1: 254,905 shares 254,905$4.31M5.38%-11,802Timeline
WDWALKER & DUNLOP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 49,817 shares 49,817$4.25M5.31%newTimeline
NMRKNEWMARK GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 497,620 shares; 2024Q1: 404,591 shares; 2024Q2: 497,894 shares; 2024Q3: 431,122 shares; 2024Q4: 248,792 shares; 2025Q1: 348,841 shares 348,841$4.25M5.3%+100,049Timeline
ESSESSEX PPTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: 2,109 shares; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 13,078 shares 13,078$4.01M5%newTimeline
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 56,313 shares; 2024Q1: 44,611 shares; 2024Q2: 60,546 shares; 2024Q3: 47,312 shares; 2024Q4: 28,634 shares; 2025Q1: 30,186 shares 30,186$3.95M4.93%+1,552Timeline
WSRWHITESTONE REITQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 41,074 shares; 2024Q1: 163,081 shares; 2024Q2: 143,727 shares; 2024Q3: 308,952 shares; 2024Q4: 423,740 shares; 2025Q1: 264,334 shares 264,334$3.85M4.8%-159,406Timeline
SAFESAFEHOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: 109,520 shares; 2024Q2: 122,021 shares; 2024Q3: 212,887 shares; 2024Q4: not reported; 2025Q1: 196,746 shares 196,746$3.68M4.6%newTimeline
SLGSL GREEN RLTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 62,406 shares 62,406$3.6M4.49%newTimeline
CPTCAMDEN PPTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 7,240 shares; 2024Q1: 38,799 shares; 2024Q2: 43,427 shares; 2024Q3: 47,838 shares; 2024Q4: 45,131 shares; 2025Q1: 27,792 shares 27,792$3.4M4.24%-17,339Timeline
VNOVORNADO RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 86,997 shares 86,997$3.22M4.01%newTimeline
PSAPUBLIC STORAGEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 10,572 shares 10,572$3.16M3.95%newTimeline
UDRUDR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 117,992 shares; 2024Q1: 103,607 shares; 2024Q2: 64,850 shares; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 67,409 shares 67,409$3.04M3.8%newTimeline
SUISUN CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 17,955 shares; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 22,990 shares 22,990$2.96M3.69%newTimeline
PEBPEBBLEBROOK HOTEL TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 240,381 shares; 2025Q1: 198,041 shares 198,041$2.01M2.5%-42,340Timeline
EXREXTRA SPACE STORAGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 12,028 shares 12,028$1.79M2.23%newTimeline
AHRTAH RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 173,081 shares; 2024Q3: 250,000 shares; 2024Q4: not reported; 2025Q1: 225,072 shares 225,072$1.69M2.11%newTimeline
DRHDIAMONDROCK HOSPITALITY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 216,646 shares; 2025Q1: 117,754 shares 117,754$909K1.13%-98,892Timeline
IYRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,751 shares 2,751$263K0.33%newTimeline

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
ELMEELME COMMUNITIES2,141,094$32.7Mshares
INVHINVITATION HOMES INC203,391$6.5Mshares
COLDAMERICOLD REALTY TRUST INC218,640$4.68Mshares
HSTHOST HOTELS & RESORTS INC258,887$4.54Mshares
CUSHMAN WAKEFIELD PLCCUSHMAN WAKEFIELD PLC235,235$3.08Mshares
LENLENNAR CORP13,257$1.81Mshares
LINELINEAGE INC16,571$971Kshares
STRWSTRAWBERRY FIELDS REIT INC15,486$163Kshares

How Q1 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 0001595907-25-000002 base2025-05-14acceptance time not in the bulk data set