Adelante Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Alexandria Real Estate Equit	COM	015271109	76,341	690,749	SH		SOLE		409,522	0	281,227
American Assets Trust	COM	024013104	12,249	292,741	SH		SOLE		84,758	0	207,983
American Tower Corp.	COM	03027X100	40,680	334,705	SH		SOLE		255,362	0	79,343
Apartment Investment & Manag	COM	03748R101	86,839	1,958,048	SH		SOLE		859,922	0	1,098,126
Boston Properties, Inc.	COM	101121101	26,419	199,522	SH		SOLE		199,441	0	81
Brookdale Senior Living	COM	112463104	18,306	1,363,075	SH		SOLE		552,060	0	811,015
Chesapeake Lodging Trust	COM	165240102	10,838	452,335	SH		SOLE		72,715	0	379,620
Colony Starwood Homes	COM	19625X102	24,837	731,584	SH		SOLE		317,328	0	414,256
Corporate Office Properties	COM	22002T108	25,418	767,899	SH		SOLE		222,351	0	545,548
DCT Industrial Trust	COM	233153204	51,573	1,071,755	SH		SOLE		458,416	0	613,339
DDR Corp.	COM	23317H102	17,011	1,357,600	SH		SOLE		218,260	0	1,139,340
Duke Realty Corporation	COM	264411505	23,797	905,849	SH		SOLE		281,845	0	624,004
Dupont Fabros Technology	COM	26613Q106	41,143	829,660	SH		SOLE		417,206	0	412,454
Equinix Inc.	COM	29444U700	73,344	183,190	SH		SOLE		113,716	0	69,474
Equity Residential	COM	29476L107	97,522	1,567,375	SH		SOLE		759,012	0	808,363
Essex Property Trust, Inc.	COM	297178105	71,785	310,045	SH		SOLE		167,539	0	142,506
Extra Space Storage, Inc	COM	30225T102	66,426	892,945	SH		SOLE		435,654	0	457,291
Four Corners Property Trust	COM	35086T109	14,679	642,969	SH		SOLE		153,612	0	489,357
General Growth Properties	COM	36174X101	42,916	1,851,396	SH		SOLE		810,905	0	1,040,491
Healthcare Trust of America	COM	42225P501	49,601	1,576,641	SH		SOLE		653,682	0	922,959
Highwoods Properties, Inc.	COM	431284108	37,032	753,757	SH		SOLE		175,395	0	578,362
Hilton Grand Vacations	COM	43283X105	19,747	688,983	SH		SOLE		336,782	0	352,201
Hilton, Inc.	COM	43300A203	35,296	603,762	SH		SOLE		144,890	0	458,872
Interxion Holdings	COM	N47279109	2,208	55,820	SH		SOLE		46,480	0	9,340
Kilroy Realty	COM	49427F108	70,208	974,036	SH		SOLE		461,072	0	512,964
Kimco Realty Corp.	COM	49446R109	58,255	2,637,156	SH		SOLE		1,223,281	0	1,413,875
Marriott International-CL A	COM	571903202	32,218	342,092	SH		SOLE		339,060	0	3,032
National Retail Properties,	COM	637417106	13,479	308,996	SH		SOLE		305,641	0	3,355
Omega Healthcare Investors	COM	681936100	11,084	335,987	SH		SOLE		83,903	0	252,084
Park Hotels & Resorts	COM	700517105	2,106	82,048	SH		SOLE		46,831	0	35,217
ProLogis Inc.	COM	74340W103	89,823	1,731,369	SH		SOLE		954,023	0	777,346
Public Storage	COM	74460D109	98,534	450,110	SH		SOLE		232,536	0	217,574
Realty Income	COM	756109104	15,834	265,990	SH		SOLE		57,425	0	208,565
Regency Centers Corp.	COM	758849103	81,061	1,220,988	SH		SOLE		511,540	0	709,448
Retail Opportunity Investmen	COM	76131N101	22,799	1,084,148	SH		SOLE		1,069,128	0	15,020
Simon Property Group, Inc.	COM	828806109	206,716	1,201,627	SH		SOLE		598,066	0	603,561
Sun Communities, Inc.	COM	866674104	34,850	433,836	SH		SOLE		118,573	0	315,263
Sunstone Hotel Investors, In	COM	867892101	25,607	1,670,363	SH		SOLE		268,555	0	1,401,808
Terreno Realty Corp	COM	88146M101	12,668	452,415	SH		SOLE		72,720	0	379,695
Ventas, Inc.	COM	92276F100	25,795	396,595	SH		SOLE		392,030	0	4,565
Vornado Realty Trust	COM	929042109	60,150	599,637	SH		SOLE		169,935	0	429,702
Welltower Inc.	COM	95040Q104	89,343	1,261,551	SH		SOLE		564,185	0	697,366