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FM

Forward Management Portfolio holdings

AUM $907M
1-Year Est. Return 0.46%
This Fund
S&P 500
This Quarter Est. Return
+4.59%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$1.73B
AUM Growth
-$14.5M
Cap. Flow
-$86.6M
Cap. Flow %
-5.01%
Top 10 Hldgs %
49.8%
Holding
399
New
55
Increased
96
Reduced
105
Closed
45

Top Buys

1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$62M
2
KRG icon
Kite Realty
KRG
+$14.7M
3
MNR
Monmouth Real Estate Investment Corp
MNR
+$8.64M
4
FSP
Franklin Street Properties
FSP
+$6.77M
5
WPC icon
W.P. Carey
WPC
+$5.83M

Top Sells

1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$77.3M
2
DLR icon
Digital Realty Trust
DLR
+$46.5M
3
LXP icon
LXP Industrial Trust
LXP
+$26.1M
4
ESV
Ensco Rowan plc
ESV
+$6.05M
5
MR
MINDRAY MED INTL LTD SPONSORED ADR REPSTG CL A
MR
+$5.82M

Sector Composition

1 Real Estate 34.48%
2 Financials 3.44%
3 Healthcare 2.75%
4 Energy 1.92%
5 Industrials 1.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RPT.PRD
26
DELISTED
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
$15.1M 0.88%
245,700
– –
LXP.PRC icon
27
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
$90M
$14.8M 0.86%
303,428
– –
FUR
28
DELISTED
WINTHROP REALTY TRUST SHS BENE INT (NEW)
FUR
$13.3M 0.77%
866,037
-332,200
-28% -$4.59M
BAP icon
29
Credicorp
BAP
$30.8B
$12.6M 0.73%
81,566
+13,797
+20% +$2.07M
VGSH icon
30
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$12.2M 0.71%
200,900
-52,700
-21% -$3.21M
CYD icon
31
China Yuchai International
CYD
$1.68B
$11.7M 0.68%
561,292
+109,744
+24% +$2.29M
WPP icon
32
WPP
WPP
$4.2B
$11.6M 0.67%
106,995
-804
-0.7% -$85.6K
SAN icon
33
Banco Santander
SAN
$195B
$11.6M 0.67%
1,217,868
+185,996
+18% +$1.71M
AHRT
34
AH Realty Trust
AHRT
$534M
$11.5M 0.67%
1,191,900
– –
AMH icon
35
American Homes 4 Rent
AMH
$12.4B
$10.4M 0.6%
584,000
-45,000
-7% -$768K
AVB icon
36
AvalonBay Communities
AVB
$27.8B
$9.7M 0.56%
68,288
-19,376
-22% -$2.68M
MNR
37
DELISTED
Monmouth Real Estate Investment Corp
MNR
$9.16M 0.53%
+912,761
New +$8.64M
NVS icon
38
Novartis
NVS
$291B
$8.76M 0.51%
107,719
+3,431
+3% +$270K
SPG icon
39
Simon Property Group
SPG
$74.1B
$8.61M 0.5%
51,793
-33,984
-40% -$5.55M
FPO
40
DELISTED
First Potomac Realty Trust
FPO
$8.45M 0.49%
644,197
– –
EQR icon
41
Equity Residential
EQR
$26.2B
$8.22M 0.48%
130,500
-49,300
-27% -$2.99M
RDS.A
42
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$7.8M 0.45%
94,444
-2,300
-2% -$180K
ACRE
43
Ares Commercial Real Estate
ACRE
$261M
$7.33M 0.42%
590,700
– –
HSBC icon
44
HSBC
HSBC
$345B
$6.98M 0.4%
159,246
+3,103
+2% +$138K
DLR icon
45
Digital Realty Trust
DLR
$64.2B
$6.28M 0.36%
107,636
-830,250
-89% -$46.5M
VCSH icon
46
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.8B
$6.01M 0.35%
74,750
-21,000
-22% -$1.68M
EPR.PRC icon
47
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$148M
$5.71M 0.33%
248,700
– –
PSA icon
48
Public Storage
PSA
$57B
$5.54M 0.32%
32,323
-14,945
-32% -$2.56M
WELL icon
49
Welltower
WELL
$170B
$5.51M 0.32%
88,000
+14,600
+20% +$919K
BNS icon
50
Scotiabank
BNS
$110B
$5.5M 0.32%
91,082
+18,116
+25% +$1.05M
1
2
3 4 5

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BO
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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 Q2 2014 Portfolio in Review

As of Q2 2014, Forward Management held 399 positions worth $1.73B, down 0.83% from $1.74B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Forward Management withdrew a net $86.6M in Q2 2014, closing 45 positions and reducing 105 holdings. Its most notable exit was MINDRAY MED INTL LTD SPONSORED ADR REPSTG CL A, an estimated $5.82M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 34% of assets, down from 36% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Forward Management opened a new position in Monmouth Real Estate Investment Corp worth $9.16M.

  • Forward Management's largest Q2 2014 buy was Monmouth Real Estate Investment Corp: 912,761 shares worth $9.16M.
  • Forward Management added most to State Street SPDR S&P 500 ETF Trust in Q2 2014, an estimated $62M increase.
  • Forward Management's biggest Q2 2014 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $77.3M.
  • Forward Management fully exited MINDRAY MED INTL LTD SPONSORED ADR REPSTG CL A in Q2 2014, selling an estimated $5.82M.
  • Forward Management's ten largest holdings make up 50% of its $1.73B portfolio in Q2 2014.
  • Forward Management opened 55 new positions and closed 45 in Q2 2014.
  • Forward Management's portfolio value fell 0.83% quarter-over-quarter to $1.73B.

Based on Forward Management's 13F filing for Q2 2014, filed 12 Aug 2014.