Forward Management’s Ares Commercial Real Estate ACRE Stock Holding History

Forward Management’s Portfolio ACRE Stock Details ACRE Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-390,000	Closed	-$4.46M	–	248
2015 Q4	$4.46M	Sell	390,000 -185,000	-32%	-$2.29M	0.38%	52
2015 Q3	$6.89M	Sell	575,000 -700	-0.1%	-$8.6K	0.55%	38
2015 Q2	$6.56M	Hold	575,700	–	–	0.4%	48
2015 Q1	$6.36M	Hold	575,700	–	–	0.38%	50
2014 Q4	$6.61M	Sell	575,700 -15,000	-3%	-$178K	0.36%	46
2014 Q3	$6.91M	Hold	590,700	–	–	0.41%	47
2014 Q2	$7.33M	Hold	590,700	–	–	0.42%	43
2014 Q1	$7.92M	Buy	590,700 +5,000	+0.9%	+$67K	0.45%	43
2013 Q4	$7.67M	Buy	585,700 +40,000	+7%	+$514K	0.47%	43
2013 Q3	$6.78M	Buy	545,700 +35,000	+7%	+$447K	0.44%	48
2013 Q2	$6.54M	Buy	+510,700	New	+$8.22M	0.54%	46

Other funds holding ACRE

RIM

RS Investment Management San Francisco, California $9.73B AUM 3.24% 1-Year Est. Return

Boston Partners Boston, Massachusetts $113B AUM 38.87% 1-Year Est. Return

DFG

Delphi Financial Group Wilmington, Delaware $202M AUM 21.25% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

AllianceBernstein Nashville, Tennessee $302B AUM 26.44% 1-Year Est. Return

Acadian Asset Management Boston, Massachusetts $84.2B AUM 55.88% 1-Year Est. Return

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

Renaissance Technologies New York $72.6B AUM 54.88% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

Forward Management's ACRE Position: Q1 2016 in Review

Forward Management sold out of Ares Commercial Real Estate (ACRE) in Q1 2016, closing a stake of 390,000 shares — an estimated $4.46M sold.

Forward Management first reported a position in ACRE in Q2 2013 and held it in 11 quarters. The position peaked at $7.92M in Q1 2014. 105 funds tracked by Wall St. Rank hold ACRE as of Q1 2016.

Forward Management reported no remaining Ares Commercial Real Estate position as of Q1 2016 after selling out during the quarter.
Forward Management sold 390,000 Ares Commercial Real Estate shares in Q1 2016, an estimated $4.46M.
Forward Management first reported a position in Ares Commercial Real Estate in Q2 2013 and held it in 11 quarters.
Forward Management's Ares Commercial Real Estate position peaked at $7.92M in Q1 2014.
105 funds tracked by Wall St. Rank held Ares Commercial Real Estate as of Q1 2016.

Based on Forward Management's 13F filing for Q1 2016, filed 13 May 2016.