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Forward Management Portfolio holdings

AUM $907M
1-Year Est. Return 0.46%
This Fund
S&P 500
This Quarter Est. Return
+0.25%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$1.54B
AUM Growth
+$322M
Cap. Flow
-$50.9M
Cap. Flow %
-3.3%
Top 10 Hldgs %
43.87%
Holding
405
New
61
Increased
102
Reduced
104
Closed
42

Top Buys

Rank Stock Value
1
DLR icon
Digital Realty Trust
DLR
+$21.5M
2
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$15.1M
3
AEC
ASSOCIATED ESTATES REALTY CORP
AEC
+$8.66M
4
DRE
Duke Realty Corp.
DRE
+$7.86M
5
MPT
Medical Properties Trust
MPT
+$5.96M

Top Sells

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$35.1M
2
SUI icon
Sun Communities
SUI
+$19.9M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$11.4M
4
RPAI
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
+$11.3M
5
SVC
Service Properties Trust
SVC
+$10.5M

Sector Composition

Rank Sector Weight
1 Real Estate 39.94%
2 Healthcare 3.37%
3 Financials 2.13%
4 Energy 2.13%
5 Industrials 1.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MNTA
301
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$216K 0.01%
15,000
-46,900
-76% -$718K
TCO
302
DELISTED
Taubman Centers Inc.
TCO
$215K 0.01%
3,200
– –
HT
303
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
$206K 0.01%
9,225
-7,500
-45% -$168K
GIMO
304
DELISTED
Gigamon Inc.
GIMO
$193K 0.01%
+5,000
New +$174K
YELP icon
305
Yelp
YELP
$1.44B
$191K 0.01%
+3,000
New +$154K
PSB
306
DELISTED
PS Business Parks, Inc.
PSB
$187K 0.01%
2,500
– –
EDR
307
DELISTED
Education Realty Trust Inc
EDR
$182K 0.01%
6,667
– –
FNGN
308
DELISTED
Financial Engines, Inc.
FNGN
$178K 0.01%
3,600
– –
AMBI
309
DELISTED
Ambit Biosciences Corp
AMBI
$177K 0.01%
24,615
-32,385
-57% -$429K
EHTH icon
310
eHealth
EHTH
$47.3M
$176K 0.01%
+5,500
New +$152K
RLJ icon
311
RLJ Lodging Trust
RLJ
$1.81B
$153K 0.01%
6,500
-21,800
-77% -$515K
WNR
312
DELISTED
Western Refining Inc
WNR
$150K 0.01%
5,000
– –
GLDD
313
DELISTED
Great Lakes Dredge & Dock
GLDD
$148K 0.01%
20,000
– –
EQIX icon
314
Equinix
EQIX
$101B
$144K 0.01%
900
-1,500
-63% -$272K
FET icon
315
Forum Energy Technologies
FET
$593M
$135K 0.01%
+250
New +$140K
DEI icon
316
Douglas Emmett
DEI
$2.1B
$134K 0.01%
5,700
-9,900
-63% -$241K
SAUC
317
DELISTED
Diversified Restaurant Holdings, Inc. Common stock
SAUC
$131K 0.01%
20,000
– –
REN
318
DELISTED
Resolute Energy Corporaton
REN
$125K 0.01%
3,000
– –
V icon
319
Visa
V
$682B
$123K 0.01%
2,800
-2,800
-50% -$129K
CDE icon
320
Coeur Mining
CDE
$14.8B
$121K 0.01%
+10,000
New +$137K
FR icon
321
First Industrial Realty Trust
FR
$9.13B
$121K 0.01%
7,423
-12,850
-63% -$207K
DATA
322
DELISTED
Tableau Software, Inc.
DATA
$110K 0.01%
2,330
+30
+1% +$1.93K
POT
323
DELISTED
Potash Corp Of Saskatchewan
POT
$109K 0.01%
3,500
-48,000
-93% -$1.59M
PKY
324
DELISTED
Parkway, Inc.
PKY
$109K 0.01%
6,118
-413,882
-99% -$7.25M
ADSK icon
325
Autodesk
ADSK
$46.1B
$107K 0.01%
3,000
-1,000
-25% -$36.9K
11 12
13
14 15

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PS
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CGM
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CL
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AEPI
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AIL
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H6H
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Forward Management's Q3 2013 Portfolio in Review

As of Q3 2013, Forward Management held 405 positions worth $1.54B, up 26% from $1.22B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Forward Management withdrew a net $50.9M in Q3 2013, closing 42 positions and reducing 104 holdings. Its most notable exit was Sun Communities, an estimated $19.9M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 40% of assets, down from 51% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Forward Management opened a new position in iShares MSCI Emerging Markets ETF worth $15.5M.

  • Forward Management's largest Q3 2013 buy was iShares MSCI Emerging Markets ETF: 380,978 shares worth $15.5M.
  • Forward Management added most to Digital Realty Trust in Q3 2013, an estimated $21.5M increase.
  • Forward Management's biggest Q3 2013 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $35.1M.
  • Forward Management fully exited Sun Communities in Q3 2013, selling an estimated $19.9M.
  • Forward Management's ten largest holdings make up 44% of its $1.54B portfolio in Q3 2013.
  • Forward Management opened 61 new positions and closed 42 in Q3 2013.
  • Forward Management's portfolio value rose 26% quarter-over-quarter to $1.54B.

Based on Forward Management's 13F filing for Q3 2013, filed 6 Nov 2013.