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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
-4.89%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$1.24B
AUM Growth
-$384M
Cap. Flow
-$310M
Cap. Flow %
-24.91%
Top 10 Hldgs %
44.86%
Holding
338
New
24
Increased
36
Reduced
146
Closed
72

Top Buys

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$60.7M
2
WPC icon
W.P. Carey
WPC
+$19.9M
3
BMR
BIOMED REALTY TRUST INC
BMR
+$12M
4
CLNY.PRC
Colony Capital, Inc
CLNY.PRC
+$9.4M
5
HOT
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
+$6.32M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$171M
2
VER
VEREIT, Inc.
VER
+$27.1M
3
LPT
Liberty Property Trust
LPT
+$21.1M
4
DLR icon
Digital Realty Trust
DLR
+$18.9M
5
TSRE
TRADE STREET RESIDENTIAL, INC. COMMON STOCK
TSRE
+$18.4M

Sector Composition

Rank Sector Weight
1 Real Estate 45.85%
2 Miscellaneous 40.07%
3 Financials 3%
4 Consumer Staples 1.94%
5 Healthcare 1.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MNR
26
DELISTED
Monmouth Real Estate Investment Corp
MNR
$12.1M 0.97%
1,240,000
-3,600
-0.3% -$34.7K
UBP.PRG.CL
27
DELISTED
Urstadt Biddle Properties Inc. 6.75% Series G Cumulative Redeemable Preferred Stock, liquidation pre
UBP.PRG.CL
$11.5M 0.93%
450,000
– –
LADR
28
Ladder Capital
LADR
$1.25B
$9.67M 0.78%
841,175
-204,984
-20% -$2.59M
AMH icon
29
American Homes 4 Rent
AMH
$11.7B
$9.39M 0.76%
584,000
– –
SHO.PRD
30
DELISTED
SUNSTONE HOTEL INVESTORS, INC 8.0% SER D CUM REDM PFD
SHO.PRD
$9.32M 0.75%
365,592
– –
CORR.PRA
31
DELISTED
CorEnergy Infrastructure Trust, Inc Depositary Shares representing a 1/100th fractional interest of a share of 7.375% Series A Cumulative Redeemable Preferred Stock
CORR.PRA
$9.1M 0.73%
400,000
– –
SKIS
32
DELISTED
Peak Resorts, Inc.
SKIS
$8.94M 0.72%
1,297,571
-600
-0% -$4.21K
CLNY.PRC
33
DELISTED
Colony Capital, Inc
CLNY.PRC
$8.74M 0.7%
+400,000
New +$9.4M
VGSH icon
34
Vanguard Short-Term Treasury ETF
VGSH
$30.1B
$7.7M 0.62%
125,750
-5,100
-4% -$312K
NVS icon
35
Novartis
NVS
$304B
$7.41M 0.6%
89,925
-27,781
-24% -$2.47M
SPG icon
36
Simon Property Group
SPG
$67.8B
$7.38M 0.59%
40,193
+4,700
+13% +$862K
ACRE
37
Ares Commercial Real Estate
ACRE
$254M
$6.89M 0.55%
575,000
-700
-0.1% -$8.6K
ACWX icon
38
iShares MSCI ACWI ex US ETF
ACWX
$12.7B
$6.5M 0.52%
147,610
+32,610
+28% +$1.37M
CYD icon
39
China Yuchai International
CYD
$1.4B
$6.26M 0.5%
491,970
+4,638
+1% +$67.7K
TSM icon
40
TSMC
TSM
$2.22T
$6.08M 0.49%
292,932
-15,473
-5% -$325K
HOT
41
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
$5.98M 0.48%
89,900
+83,100
+1,222% +$6.32M
RDS.A
42
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$5.85M 0.47%
130,228
-7,517
-5% -$382K
VER
43
DELISTED
VEREIT, Inc.
VER
$5.79M 0.47%
150,000
-650,000
-81% -$27.1M
HSBC icon
44
HSBC
HSBC
$367B
$5.73M 0.46%
169,661
-30,662
-15% -$1.15M
BAP icon
45
Credicorp
BAP
$30.4B
$5.72M 0.46%
51,669
-2,939
-5% -$355K
EPR.PRC icon
46
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$144M
$5.51M 0.44%
248,700
– –
WPP icon
47
WPP
WPP
$5.46B
$5.45M 0.44%
52,365
-41,438
-44% -$4.53M
ABEV icon
48
Ambev
ABEV
$46.6B
$5.38M 0.43%
1,098,445
-145,887
-12% -$792K
BXP icon
49
Boston Properties
BXP
$10.8B
$4.61M 0.37%
38,945
+5,600
+17% +$669K
FMX icon
50
Fomento Económico Mexicano
FMX
$41B
$4.57M 0.37%
51,185
-2,818
-5% -$251K
1
2
3 4 5

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Forward Management's Q3 2015 Portfolio in Review

As of Q3 2015, Forward Management held 338 positions worth $1.24B, down 24% from $1.63B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Forward Management withdrew a net $310M in Q3 2015, closing 72 positions and reducing 146 holdings. Its most notable exit was TRADE STREET RESIDENTIAL, INC. COMMON STOCK, an estimated $18.4M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 46% of assets, up from 43% a quarter earlier, followed by Miscellaneous and Financials.

Against the trend, Forward Management opened a new position in W.P. Carey worth $19.4M.

  • Forward Management's largest Q3 2015 buy was W.P. Carey: 342,035 shares worth $19.4M.
  • Forward Management added most to State Street SPDR Bloomberg 1-3 Month T-Bill ETF in Q3 2015, an estimated $60.7M increase.
  • Forward Management's biggest Q3 2015 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $171M.
  • Forward Management fully exited TRADE STREET RESIDENTIAL, INC. COMMON STOCK in Q3 2015, selling an estimated $18.4M.
  • Forward Management's ten largest holdings make up 45% of its $1.24B portfolio in Q3 2015.
  • Forward Management opened 24 new positions and closed 72 in Q3 2015.
  • Forward Management's portfolio value fell 24% quarter-over-quarter to $1.24B.

Based on Forward Management's 13F filing for Q3 2015, filed 9 Nov 2015.