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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
+2.67%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$1.18B
AUM Growth
-$61.9M
Cap. Flow
-$88M
Cap. Flow %
-7.46%
Top 10 Hldgs %
47.97%
Holding
297
New
31
Increased
75
Reduced
86
Closed
37

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$46.6M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$45.2M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$31.7M
4
SBRA icon
Sabra Healthcare REIT
SBRA
+$16.1M
5
ARE.PRD
Alexandria Real Estate Equities Inc 7.00% Series D Preferred Stock
ARE.PRD
+$2.81M

Top Sells

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$79.5M
2
VRE
Veris Residential
VRE
+$21.6M
3
INN
Summit Hotel Properties
INN
+$17.7M
4
ROIC
Retail Opportunity Investments Corp.
ROIC
+$16.5M
5
CCG
CAMPUS CREST COMMUNITIES INC COM STK (MD)
CCG
+$15.2M

Sector Composition

Rank Sector Weight
1 Real Estate 37.2%
2 Financials 3.38%
3 Consumer Staples 2.03%
4 Technology 1.77%
5 Communication Services 1.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMH icon
26
American Homes 4 Rent
AMH
$12.3B
$9.73M 0.82%
584,000
– –
CLNY.PRC
27
DELISTED
Colony Capital, Inc
CLNY.PRC
$8.76M 0.74%
400,000
– –
SKIS
28
DELISTED
Peak Resorts, Inc.
SKIS
$7.8M 0.66%
1,297,571
– –
VGSH icon
29
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$7.64M 0.65%
125,750
– –
SPG icon
30
Simon Property Group
SPG
$74.2B
$7.62M 0.65%
39,193
-1,000
-2% -$194K
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
$7.28M 0.62%
400,000
– –
WPP icon
32
WPP
WPP
$4.11B
$7.24M 0.61%
63,112
+10,747
+21% +$1.21M
ACWX icon
33
iShares MSCI ACWI ex US ETF
ACWX
$11.3B
$6.5M 0.55%
147,610
– –
NVS icon
34
Novartis
NVS
$293B
$6.46M 0.55%
83,778
-6,147
-7% -$488K
CYD icon
35
China Yuchai International
CYD
$1.65B
$6.44M 0.55%
572,598
+80,628
+16% +$982K
HSBC icon
36
HSBC
HSBC
$345B
$6.4M 0.54%
181,932
+12,271
+7% +$433K
HOT
37
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
$6.3M 0.53%
90,900
+1,000
+1% +$71.4K
TSM icon
38
TSMC
TSM
$2.07T
$6.27M 0.53%
275,516
-17,416
-6% -$392K
UBS icon
39
UBS Group
UBS
$173B
$6.25M 0.53%
322,947
+92,497
+40% +$1.8M
ROIC
40
DELISTED
Retail Opportunity Investments Corp.
ROIC
$6.09M 0.52%
340,000
-925,000
-73% -$16.5M
MHG
41
DELISTED
Marine Harvest ASA
MHG
$6.02M 0.51%
456,950
+117,538
+35% +$1.56M
EPR.PRC icon
42
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$148M
$5.97M 0.51%
248,700
– –
WPC icon
43
W.P. Carey
WPC
$16.9B
$5.9M 0.5%
102,100
-239,935
-70% -$14.4M
PLD icon
44
Prologis
PLD
$140B
$5.53M 0.47%
128,912
+22,200
+21% +$936K
AVB icon
45
AvalonBay Communities
AVB
$27.4B
$5.24M 0.44%
28,480
+13,741
+93% +$2.46M
ABEV icon
46
Ambev
ABEV
$46.8B
$5.07M 0.43%
1,137,553
+39,108
+4% +$191K
FMX icon
47
Fomento Económico Mexicano
FMX
$44B
$5.07M 0.43%
54,919
+3,734
+7% +$359K
UL icon
48
Unilever
UL
$134B
$4.91M 0.42%
101,218
+26,335
+35% +$1.28M
BXP icon
49
Boston Properties
BXP
$11.1B
$4.8M 0.41%
37,645
-1,300
-3% -$162K
VNM icon
50
VanEck Vietnam ETF
VNM
$522M
$4.5M 0.38%
282,781
+47,593
+20% +$770K
1
2
3 4 5

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Forward Management's Q4 2015 Portfolio in Review

As of Q4 2015, Forward Management held 297 positions worth $1.18B, down 5% from $1.24B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Forward Management withdrew a net $88M in Q4 2015, closing 37 positions and reducing 86 holdings. Its most notable exit was Ladder Capital, an estimated $9.67M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 37% of assets, down from 43% a quarter earlier, followed by Financials and Consumer Staples.

Against the trend, Forward Management opened a new position in iShares Russell 2000 ETF worth $45.5M.

  • Forward Management's largest Q4 2015 buy was iShares Russell 2000 ETF: 403,671 shares worth $45.5M.
  • Forward Management added most to State Street SPDR S&P 500 ETF Trust in Q4 2015, an estimated $31.7M increase.
  • Forward Management's biggest Q4 2015 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $79.5M.
  • Forward Management fully exited Ladder Capital in Q4 2015, selling an estimated $9.67M.
  • Forward Management's ten largest holdings make up 48% of its $1.18B portfolio in Q4 2015.
  • Forward Management opened 31 new positions and closed 37 in Q4 2015.
  • Forward Management's portfolio value fell 5% quarter-over-quarter to $1.18B.

Based on Forward Management's 13F filing for Q4 2015, filed 11 Feb 2016.