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
Alexander & Baldwin Inc	COM	014491104	13,164	569,876	SH		SOLE		108,678	0	461,198
Alexandria Real Estate Equit	COM	015271109	98,191	695,949	SH		SOLE		390,142	0	305,807
American Tower Corp.	COM	03027X100	43,005	210,345	SH		SOLE		154,808	0	55,537
Americold Realty Trust	COM	03064D108	61,640	1,901,311	SH		SOLE		1,252,520	0	648,791
Apartment Investment & Manag	COM	03748R754	31,805	634,576	SH		SOLE		88,701	0	545,875
Boston Properties, Inc.	COM	101121101	84,788	657,266	SH		SOLE		336,619	0	320,647
Camden Property Trust	COM	133131102	76,149	729,463	SH		SOLE		362,947	0	366,516
CoreSite Realty Corp.	COM	21870Q105	28,659	248,837	SH		SOLE		56,032	0	192,805
Cubesmart	COM	229663109	44,920	1,343,298	SH		SOLE		302,620	0	1,040,678
DiamondRock Hospitality	COM	252784301	42,281	4,089,076	SH		SOLE		1,488,293	0	2,600,783
Duke Realty Corporation	COM	264411505	37,075	1,172,868	SH		SOLE		259,860	0	913,008
Equinix Inc.	COM	29444U700	131,152	260,074	SH		SOLE		115,173	0	144,901
Equity Residential	COM	29476L107	122,987	1,619,957	SH		SOLE		808,862	0	811,095
Essex Property Trust, Inc.	COM	297178105	83,755	286,902	SH		SOLE		143,392	0	143,510
Extra Space Storage, Inc	COM	30225T102	84,237	793,943	SH		SOLE		376,664	0	417,279
Four Corners Property Trust	COM	35086T109	13,584	497,022	SH		SOLE		69,470	0	427,552
HCP Inc.	COM	40414L109	83,309	2,605,050	SH		SOLE		1,113,616	0	1,491,434
Healthcare Trust of America	COM	42225P501	39,183	1,428,471	SH		SOLE		771,076	0	657,395
Highwoods Properties, Inc.	COM	431284108	30,654	742,239	SH		SOLE		124,713	0	617,526
Hudson Pacific Properties	COM	444097109	1,314	39,500	SH		SOLE		35,370	0	4,130
Interxion Holdings	COM	N47279109	10,276	135,045	SH		SOLE		45,820	0	89,225
Invitation Homes Inc	COM	46187W107	32,215	1,205,226	SH		SOLE		662,291	0	542,935
JBG Smith Properties	COM	46590V100	26,160	664,978	SH		SOLE		325,345	0	339,633
Kilroy Realty	COM	49427F108	62,193	842,603	SH		SOLE		430,105	0	412,498
Kimco Realty Corp.	COM	49446R109	58,754	3,179,297	SH		SOLE		1,649,738	0	1,529,559
Marriott International-CL A	COM	571903202	34,539	246,192	SH		SOLE		158,271	0	87,921
Paramount Group Inc	COM	69924R108	7,933	566,308	SH		SOLE		125,272	0	441,036
Pebblebrook Hotel Trust	COM	70509V100	37,512	1,331,144	SH		SOLE		648,331	0	682,813
ProLogis Inc.	COM	74340W103	155,563	1,942,106	SH		SOLE		965,760	0	976,346
Regency Centers Corp.	COM	758849103	63,058	944,827	SH		SOLE		445,020	0	499,807
Retail Opportunity Investmen	COM	76131N101	6,050	353,180	SH		SOLE		353,180	0	0
Simon Property Group, Inc.	COM	828806109	152,697	955,791	SH		SOLE		437,599	0	518,192
Sun Communities, Inc.	COM	866674104	52,484	409,427	SH		SOLE		155,968	0	253,459
Terreno Realty Corp	COM	88146M101	20,729	422,691	SH		SOLE		109,592	0	313,099
Vanguard REIT VIPERs	COM	922908553	908	10,390	SH		SOLE		0	0	10,390
Ventas, Inc.	COM	92276F100	69,059	1,010,379	SH		SOLE		535,910	0	474,469