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	15,503	739,659	SH		SOLE		130,461	0	609,198
Alexandria Real Estate Equit	COM	015271109	101,168	626,117	SH		SOLE		361,773	0	264,344
American Homes 4 Rent	COM	02665T306	23,809	908,414	SH		SOLE		583,212	0	325,202
American Tower Corp.	COM	03027X100	45,977	200,053	SH		SOLE		144,872	0	55,181
Americold Realty Trust	COM	03064D108	37,449	1,068,156	SH		SOLE		701,695	0	366,461
AvalonBay Communities, Inc.	COM	053484101	51,968	247,817	SH		SOLE		42,625	0	205,192
Boston Properties, Inc.	COM	101121101	98,139	711,877	SH		SOLE		330,914	0	380,963
Camden Property Trust	COM	133131102	83,254	784,671	SH		SOLE		395,122	0	389,549
CoreSite Realty Corp.	COM	21870Q105	1,789	15,957	SH		SOLE		14,910	0	1,047
Cubesmart	COM	229663109	40,712	1,293,271	SH		SOLE		245,727	0	1,047,544
CyrusOne	COM	23283R100	24,778	378,696	SH		SOLE		130,372	0	248,324
DiamondRock Hospitality	COM	252784301	9,570	863,672	SH		SOLE		852,093	0	11,579
Duke Realty Corporation	COM	264411505	52,059	1,501,557	SH		SOLE		315,125	0	1,186,432
Equinix Inc.	COM	29444U700	137,858	236,180	SH		SOLE		108,349	0	127,831
Equity Residential	COM	29476L107	124,607	1,539,889	SH		SOLE		761,749	0	778,140
Essex Property Trust, Inc.	COM	297178105	66,228	220,127	SH		SOLE		119,091	0	101,036
Extra Space Storage, Inc	COM	30225T102	79,332	751,111	SH		SOLE		327,912	0	423,199
Healthcare Trust of America	COM	42225P501	47,966	1,584,100	SH		SOLE		815,654	0	768,446
Healthpeak Properties	COM	42250P103	99,145	2,876,266	SH		SOLE		1,207,681	0	1,668,585
Highwoods Properties, Inc.	COM	431284108	21,359	436,685	SH		SOLE		78,089	0	358,596
Hilton, Inc.	COM	43300A203	25,597	230,790	SH		SOLE		47,407	0	183,383
Hudson Pacific Properties	COM	444097109	27,766	737,470	SH		SOLE		378,470	0	359,000
Interxion Holdings	COM	N47279109	29,647	353,743	SH		SOLE		73,117	0	280,626
Invitation Homes Inc	COM	46187W107	48,570	1,620,604	SH		SOLE		836,233	0	784,371
JBG Smith Properties	COM	46590V100	35,967	901,650	SH		SOLE		557,977	0	343,673
Kilroy Realty	COM	49427F108	63,522	757,110	SH		SOLE		386,705	0	370,405
Kimco Realty Corp.	COM	49446R109	53,528	2,584,648	SH		SOLE		1,484,533	0	1,100,115
MGM Growth Properties	COM	55303A105	16,769	541,462	SH		SOLE		113,480	0	427,982
Pebblebrook Hotel Trust	COM	70509V100	42,370	1,580,377	SH		SOLE		884,652	0	695,725
ProLogis Inc.	COM	74340W103	162,430	1,822,185	SH		SOLE		886,228	0	935,957
Regency Centers Corp.	COM	758849103	19,922	315,784	SH		SOLE		59,312	0	256,472
Retail Opportunity Investmen	COM	76131N101	42,559	2,409,926	SH		SOLE		1,010,153	0	1,399,773
Ryman Hospitality Properties	COM	78377T107	15,626	180,315	SH		SOLE		23,845	0	156,470
Simon Property Group, Inc.	COM	828806109	138,638	930,708	SH		SOLE		399,929	0	530,779
Sun Communities, Inc.	COM	866674104	59,492	396,350	SH		SOLE		133,485	0	262,865
Terreno Realty Corp	COM	88146M101	24,031	443,858	SH		SOLE		107,061	0	336,797
Vanguard REIT VIPERs	COM	922908553	773	8,326	SH		SOLE		151	0	8,175
Ventas, Inc.	COM	92276F100	50,557	875,598	SH		SOLE		345,852	0	529,746