Forward Management’s Banco Santander SAN Stock Holding History

Forward Management’s Portfolio SAN Stock Details SAN Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-1,076,641	Closed	-$8.32M	–	410
2014 Q4	$8.32M	Sell	1,076,641 -236,311	-18%	-$1.9M	0.45%	39
2014 Q3	$11.3M	Buy	1,312,952 +95,084	+8%	+$858K	0.68%	33
2014 Q2	$11.6M	Buy	1,217,868 +185,996	+18%	+$1.71M	0.67%	33
2014 Q1	$8.98M	Buy	1,031,872 +174,880	+20%	+$1.43M	0.52%	39
2013 Q4	$7.06M	Buy	+856,992	New	+$6.81M	0.43%	50

Other funds holding SAN

Aristotle Capital Management Los Angeles, California $47.8B AUM 13.38% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

Macquarie Group Sydney, NSW 2000, Australia $16.8B AUM 27.39% 1-Year Est. Return

Credit Suisse Zurich, Switzerland $104B AUM 34.76% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

Northern Trust Chicago, Illinois $757B AUM 28.64% 1-Year Est. Return

Susquehanna International Group Bala Cynwyd, Pennsylvania $893B AUM 36.07% 1-Year Est. Return

Norges Bank Oslo, Norway $935B AUM

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Forward Management's SAN Position: Q1 2015 in Review

Forward Management sold out of Banco Santander (SAN) in Q1 2015, closing a stake of 1,076,641 shares — an estimated $8.32M sold.

Forward Management first reported a position in SAN in Q4 2013 and held it in 5 quarters. The position peaked at $11.6M in Q2 2014. 277 funds tracked by Wall St. Rank hold SAN as of Q1 2015.

Forward Management reported no remaining Banco Santander position as of Q1 2015 after selling out during the quarter.
Forward Management sold 1,076,641 Banco Santander shares in Q1 2015, an estimated $8.32M.
Forward Management first reported a position in Banco Santander in Q4 2013 and held it in 5 quarters.
Forward Management's Banco Santander position peaked at $11.6M in Q2 2014.
277 funds tracked by Wall St. Rank held Banco Santander as of Q1 2015.

Based on Forward Management's 13F filing for Q1 2015, filed 14 May 2015.