Adelante Capital Management LLC
Adelante Capital Management LLC is a real estate securities investment manager headquartered in Alameda, California. Founded in 1995, the firm specializes in managing investment portfolios of real estate investment trusts (REITs) and other real estate-related securities for institutional clients such as pension funds, foundations, endowments, and high-net-worth individuals.
Investment Strategy
Adelante Capital Management LLC focuses on long-only investments in publicly traded real estate securities, primarily within the United States. Their investment strategy emphasizes bottom-up fundamental research to identify undervalued REITs and other real estate companies, aiming to deliver superior risk-adjusted returns through in-depth sector analysis, security selection, and disciplined portfolio construction.
Latest 13F Filing Activity
Adelante Capital Management LLC filed their most recent 13F report on Jun 30, 2025 disclosing 42 equity positions with a total 13F market value of $1B. The fund increased holdings in Public Storage, Hudson Pacific Properties, Iron Mountain among other positions. Adelante Capital Management LLC reduced exposure to Prologis Inc., BXP, Inc., Equity Residential among others.
Top Holdings
Equity Positions (42)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
W WELL | Welltower Inc. | 11.11% | $150.9M | 981,590 | $64.48 | $153.73 | +$3.2M |
E EQIX | Equinix Inc. | 8.20% | $111.4M | 140,006 | $460.28 | $795.47 | -$5.3M |
P PSA | Public Storage | 5.29% | $71.8M | 244,857 | $302.18 | $293.42 | +$67.4M |
D DLR | Digital Realty Trust | 5.22% | $71.0M | 407,136 | $131.55 | $174.33 | +$9.7M |
A AVB | AvalonBay Communities, Inc. | 5.12% | $69.6M | 341,855 | $185.24 | $203.50 | -$4.4M |
Industry Allocation
Investment Team (3)
| Name | Role | Location | |
|---|---|---|---|
A Alan Somech | Wrap Trader | San Francisco, CA , United States | |
 | Portfolio Manager | Berkeley, CA , United States | |
M Mark Montgomery | Head Trader | Oakland, CA , United States |