Adelante REIT Growth & Income, 11

Portfolio Holdings by Security (As of Deposit Date)

Ticker	Security Description	Deposit %
ACC	American Campus Communities, Inc.	3.49
AMH F	American Homes 4 Rent, Series F, 5.875%	5
ARI	Apollo Commercial Real Estate Finance, Inc.	3.51
CBL	CBL & Associates Properties, Inc.	2.49
CUBE	CubeSmart	2.99
DDR A	DDR Corp., Series A, 6.375%	3.5
DFT	DuPont Fabros Technology, Inc.	4.98
EQR	Equity Residential	3.51
ESS	Essex Property Trust, Inc.	2.91
FCPT	Four Corners Property Trust, Inc.	2.48
HCN	Welltower Inc.	4.01
HIW	Highwoods Properties, Inc.	3.52
HTA	Healthcare Trust of America, Inc.	5.01
KIM	Kimco Realty Corporation	3.50
MGP	MGM Growth Properties LLC	3.52
NNN	National Retail Properties, Inc.	3.51
NNN F	National Retail Properties, Inc., Series F, 5.200%	5.03
OFC	Corporate Office Properties Trust	3.50
OHI	Omega Healthcare Investors, Inc.	2.51
PEB	Pebblebrook Hotel Trust	4.01
PSA E	Public Storage, Series E, 4.900%	3.52
PSB W	PS Business Parks, Inc., Series W, 5.20%	5
REXR A	Rexford Industrial Realty, Inc., Series A, 5.875%	5.06
RLJ	RLJ Lodging Trust	3.01
SFR	Colony Starwood Homes	2.99
SPG	Simon Property Group, Inc.	4.96
SUI	Sun Communities, Inc.	2.48

Financials

Ticker	Security Description	Deposit %
ARI	Apollo Commercial Real Estate Finance, Inc.	3.51

Real Estate

Ticker	Security Description	Deposit %
ACC	American Campus Communities, Inc.	3.49
CBL	CBL & Associates Properties, Inc.	2.49
SFR	Colony Starwood Homes	2.99
OFC	Corporate Office Properties Trust	3.50
CUBE	CubeSmart	2.99
DFT	DuPont Fabros Technology, Inc.	4.98
EQR	Equity Residential	3.51
ESS	Essex Property Trust, Inc.	2.91
FCPT	Four Corners Property Trust, Inc.	2.48
HTA	Healthcare Trust of America, Inc.	5.01
HIW	Highwoods Properties, Inc.	3.52
KIM	Kimco Realty Corporation	3.50
MGP	MGM Growth Properties LLC	3.52
NNN	National Retail Properties, Inc.	3.51
OHI	Omega Healthcare Investors, Inc.	2.51
PEB	Pebblebrook Hotel Trust	4.01
RLJ	RLJ Lodging Trust	3.01
SPG	Simon Property Group, Inc.	4.96
SUI	Sun Communities, Inc.	2.48
HCN	Welltower Inc.	4.01

Preferred Stock

Ticker	Security Description	Deposit %
AMH F	American Homes 4 Rent, Series F, 5.875%	5
DDR A	DDR Corp., Series A, 6.375%	3.5
NNN F	National Retail Properties, Inc., Series F, 5.200%	5.03
PSB W	PS Business Parks, Inc., Series W, 5.20%	5
PSA E	Public Storage, Series E, 4.900%	3.52
REXR A	Rexford Industrial Realty, Inc., Series A, 5.875%	5.06

Summary

Description

Trust Name

Adelante REIT Growth & Income, 11
Trust Symbol

SMADKX

Deposit Data

Deposit Date

06/12/2017
Termination Date

06/12/2019
Minimum Investment

100
Distribution Frequency

Monthly (if any)
Initial Public Offer Price

$10.00
Historical 12-Month Dist.*

0.4656

CUSIP

Cash Cusip

83187B106
Reinvest Cusip

83187B114
Fee Cash Cusip

83187B122
Fee Invest Cusip

83187B130

Documents

*The Historical 12-Month Distribution of Trust Holdings is as of 06/25/2025. If the Trust deposited after, or 90 days prior to, 06/25/2025, the distribution is as of deposit date. The Historical 12-Month Distribution is calculated by taking the weighted average of the regular income distributions paid by the securities included in the trust’s portfolio over the 12 months preceding the trust’s date of deposit reduced to account for the effects of trust fees and expenses. This historical distribution is for illustrative purposes only and is not indicative of amounts that will actually be distributed by the trust. The distributions paid by the trust may be higher or lower than the amount shown above due to factors including, but not limited to, changes in the price of trust units, changes (including reductions) in distributions paid by issuers, changes in actual trust expenses and sales of securities in the portfolio. There is no guarantee that the issuers of the securities included in the trust will pay any distributions in the future.