Filed: 11/17/2025ACC: 0001067926-25-000009
📋 What this filing means
ADELANTE CAPITAL MANAGEMENT LLC filed this quarterly 13F‑HR report disclosing 43 equity positions with a total reported market value of $1.50B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
43
Positions
$1.50B
Total AUM (reported)
23.07M
Total Shares
Allocation by class
COM$1.50B100.0%
Portfolio Concentration
Top 3$418.26M28.0%
4–10$473.54M31.7%
11–25$446.29M29.8%
Rest$157.55M10.5%
Top 3 weight
28.0%
Top 10 weight
59.6%
Voting Authority Distribution
Total shares with voting rights: 23.07M
Sole
Full voting authority
13.14M
shares
% of voting shares57.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
9.92M
shares
% of voting shares43.0%
Investment Discretion (by position count)
Sole0
Shared0
Other43
Dominant voting typeSole · 57.0% of voting shares
Institutional Holdings43
Rows:
Welltower Inc.
DFNDShares979.38K
TypeSH
Market value$174.47M
11.67%
Sole
587.97K
Shared
0.00
None
391.42K
ProLogis Inc.
DFNDShares1.27M
TypeSH
Market value$145.70M
9.74%
Sole
777.80K
Shared
0.00
None
494.49K
Equinix Inc.
DFNDShares125.23K
TypeSH
Market value$98.09M
6.56%
Sole
76.29K
Shared
0.00
None
48.95K
Simon Property Group, Inc.
DFNDShares449.34K
TypeSH
Market value$84.33M
5.64%
Sole
268.72K
Shared
0.00
None
180.63K
Digital Realty Trust
DFNDShares463.24K
TypeSH
Market value$80.08M
5.35%
Sole
279.35K
Shared
0.00
None
183.88K
Realty Income
DFNDShares1.14M
TypeSH
Market value$69.01M
4.61%
Sole
679.47K
Shared
0.00
None
455.79K
Public Storage
DFNDShares235.12K
TypeSH
Market value$67.91M
4.54%
Sole
132.08K
Shared
0.00
None
103.04K
AvalonBay Communities, Inc.
DFNDShares340.29K
TypeSH
Market value$65.73M
4.40%
Sole
209.49K
Shared
0.00
None
130.79K
Equity Residential
DFNDShares878.25K
TypeSH
Market value$56.85M
3.80%
Sole
560.92K
Shared
0.00
None
317.33K
Vici Properties
DFNDShares1.52M
TypeSH
Market value$49.61M
3.32%
Sole
873.76K
Shared
0.00
None
647.70K
Brookdale Senior Living
DFNDShares1.01M
TypeSH
Market value$46.96M
3.14%
Sole
390.87K
Shared
0.00
None
622.31K
Ventas, Inc.
DFNDShares661.91K
TypeSH
Market value$46.33M
3.10%
Sole
427.98K
Shared
0.00
None
233.93K
Kimco Realty Corp.
DFNDShares2M
TypeSH
Market value$43.72M
2.92%
Sole
1.26M
Shared
0.00
None
738.57K
Iron Mountain
DFNDShares386.29K
TypeSH
Market value$39.38M
2.63%
Sole
237.24K
Shared
0.00
None
149.04K
Equity Lifestyle Properties
DFNDShares634.05K
TypeSH
Market value$38.49M
2.57%
Sole
425.05K
Shared
0.00
None
209.01K
Agree Realty Corporation
DFNDShares441.61K
TypeSH
Market value$31.37M
2.10%
Sole
244.38K
Shared
0.00
None
197.23K
Brixmor Property Group
DFNDShares1.11M
TypeSH
Market value$30.83M
2.06%
Sole
694.34K
Shared
0.00
None
419.49K
American Homes 4 Rent
DFNDShares912K
TypeSH
Market value$30.32M
2.03%
Sole
642.21K
Shared
0.00
None
269.79K
Healthpeak Properties
DFNDShares1.31M
TypeSH
Market value$26.46M
1.77%
Sole
499.77K
Shared
0.00
None
805.79K
Host Hotels & Resorts, Inc.
DFNDShares1.34M
TypeSH
Market value$22.86M
1.53%
Sole
770.51K
Shared
0.00
None
572.62K
BXP, Inc.
DFNDShares285.34K
TypeSH
Market value$21.21M
1.42%
Sole
172.03K
Shared
0.00
None
113.31K
First Industrial Realty Trust,
DFNDShares397.65K
TypeSH
Market value$20.47M
1.37%
Sole
232.82K
Shared
0.00
None
164.82K
Mid-America Apartment Communit
DFNDShares117.76K
TypeSH
Market value$16.46M
1.10%
Sole
66.50K
Shared
0.00
None
51.27K
Terreno Realty Corp
DFNDShares283.17K
TypeSH
Market value$16.07M
1.07%
Sole
111.34K
Shared
0.00
None
171.83K
Ryman Hospitality Properties
DFNDShares171.50K
TypeSH
Market value$15.36M
1.03%
Sole
111.89K
Shared
0.00
None
59.61K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
Welltower Inc.DFND | COM | 979.38K | SH | $174.47M 11.67% | 587.97K | 0.00 | 391.42K |
ProLogis Inc.DFND | COM | 1.27M | SH | $145.70M 9.74% | 777.80K | 0.00 | 494.49K |
Equinix Inc.DFND | COM | 125.23K | SH | $98.09M 6.56% | 76.29K | 0.00 | 48.95K |
Simon Property Group, Inc.DFND | COM | 449.34K | SH | $84.33M 5.64% | 268.72K | 0.00 | 180.63K |
Digital Realty TrustDFND | COM | 463.24K | SH | $80.08M 5.35% | 279.35K | 0.00 | 183.88K |
Realty IncomeDFND | COM | 1.14M | SH | $69.01M 4.61% | 679.47K | 0.00 | 455.79K |
Public StorageDFND | COM | 235.12K | SH | $67.91M 4.54% | 132.08K | 0.00 | 103.04K |
AvalonBay Communities, Inc.DFND | COM | 340.29K | SH | $65.73M 4.40% | 209.49K | 0.00 | 130.79K |
Equity ResidentialDFND | COM | 878.25K | SH | $56.85M 3.80% | 560.92K | 0.00 | 317.33K |
Vici PropertiesDFND | COM | 1.52M | SH | $49.61M 3.32% | 873.76K | 0.00 | 647.70K |
Brookdale Senior LivingDFND | COM | 1.01M | SH | $46.96M 3.14% | 390.87K | 0.00 | 622.31K |
Ventas, Inc.DFND | COM | 661.91K | SH | $46.33M 3.10% | 427.98K | 0.00 | 233.93K |
Kimco Realty Corp.DFND | COM | 2M | SH | $43.72M 2.92% | 1.26M | 0.00 | 738.57K |
Iron MountainDFND | COM | 386.29K | SH | $39.38M 2.63% | 237.24K | 0.00 | 149.04K |
Equity Lifestyle PropertiesDFND | COM | 634.05K | SH | $38.49M 2.57% | 425.05K | 0.00 | 209.01K |
Agree Realty CorporationDFND | COM | 441.61K | SH | $31.37M 2.10% | 244.38K | 0.00 | 197.23K |
Brixmor Property GroupDFND | COM | 1.11M | SH | $30.83M 2.06% | 694.34K | 0.00 | 419.49K |
American Homes 4 RentDFND | COM | 912K | SH | $30.32M 2.03% | 642.21K | 0.00 | 269.79K |
Healthpeak PropertiesDFND | COM | 1.31M | SH | $26.46M 1.77% | 499.77K | 0.00 | 805.79K |
Host Hotels & Resorts, Inc.DFND | COM | 1.34M | SH | $22.86M 1.53% | 770.51K | 0.00 | 572.62K |
BXP, Inc.DFND | COM | 285.34K | SH | $21.21M 1.42% | 172.03K | 0.00 | 113.31K |
First Industrial Realty Trust,DFND | COM | 397.65K | SH | $20.47M 1.37% | 232.82K | 0.00 | 164.82K |
Mid-America Apartment CommunitDFND | COM | 117.76K | SH | $16.46M 1.10% | 66.50K | 0.00 | 51.27K |
Terreno Realty CorpDFND | COM | 283.17K | SH | $16.07M 1.07% | 111.34K | 0.00 | 171.83K |
Ryman Hospitality PropertiesDFND | COM | 171.50K | SH | $15.36M 1.03% | 111.89K | 0.00 | 59.61K |
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