Forward Management’s Vanguard Mortgage-Backed Securities ETF VMBS Stock Holding History

Forward Management’s Portfolio VMBS Stock Details VMBS Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-10,470	Closed	-$551K	–	266
2015 Q4	$551K	Sell	10,470 -26,267	-72%	-$1.4M	0.05%	187
2015 Q3	$1.96M	Sell	36,737 -3,330	-8%	-$177K	0.16%	88
2015 Q2	$2.12M	Sell	40,067 -9,900	-20%	-$527K	0.13%	100
2015 Q1	$2.67M	Sell	49,967 -10,483	-17%	-$558K	0.16%	92
2014 Q4	$3.2M	Buy	60,450 +32,120	+113%	+$1.7M	0.17%	85
2014 Q3	$1.49M	Hold	28,330	–	–	0.09%	134
2014 Q2	$1.49M	Sell	28,330 -21,900	-44%	-$1.14M	0.09%	123
2014 Q1	$2.6M	Buy	50,230 +19,230	+62%	+$994K	0.15%	85
2013 Q4	$1.58M	Hold	31,000	–	–	0.1%	112
2013 Q3	$1.6M	Hold	31,000	–	–	0.1%	119
2013 Q2	$1.58M	Buy	+31,000	New	+$1.61M	0.13%	121

Other funds holding VMBS

CSIA

Charles Schwab Investment Advisory San Francisco, California $72.8B AUM 10.03% 1-Year Est. Return

Envestnet Asset Management Chicago, Illinois $424B AUM 22.96% 1-Year Est. Return

MFRM

Milliman Financial Risk Management Chicago, Illinois $6.4B AUM 12.26% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

Ameriprise Minneapolis, Minnesota $495B AUM 43.24% 1-Year Est. Return

LNC

Lincoln National Corp Radnor, Pennsylvania $3.91B AUM 14.77% 1-Year Est. Return

UBS Group Zurich, Switzerland $786B AUM 40.34% 1-Year Est. Return

RFS

Rockefeller Financial Services New York $6.34B AUM 27.35% 1-Year Est. Return

Mather Group Chicago, Illinois $11.5B AUM 18.82% 1-Year Est. Return

WBI Investments Red Bank, New Jersey $403M AUM 42.23% 1-Year Est. Return

Forward Management's VMBS Position: Q1 2016 in Review

Forward Management sold out of Vanguard Mortgage-Backed Securities ETF (VMBS) in Q1 2016, closing a stake of 10,470 shares — an estimated $551K sold.

Forward Management first reported a position in VMBS in Q2 2013 and held it in 11 quarters. The position peaked at $3.2M in Q4 2014. 120 funds tracked by Wall St. Rank hold VMBS as of Q1 2016.

Forward Management reported no remaining Vanguard Mortgage-Backed Securities ETF position as of Q1 2016 after selling out during the quarter.
Forward Management sold 10,470 Vanguard Mortgage-Backed Securities ETF shares in Q1 2016, an estimated $551K.
Forward Management first reported a position in Vanguard Mortgage-Backed Securities ETF in Q2 2013 and held it in 11 quarters.
Forward Management's Vanguard Mortgage-Backed Securities ETF position peaked at $3.2M in Q4 2014.
120 funds tracked by Wall St. Rank held Vanguard Mortgage-Backed Securities ETF as of Q1 2016.

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