FM

Forward Management Portfolio holdings

AUM $907M
1-Year Return 0.46%
This Quarter Return
-9.52%
1 Year Return
+0.46%
3 Year Return
+36.86%
5 Year Return
+53.05%
10 Year Return
–
AUM
$513M
AUM Growth
-$142M
Cap. Flow
-$8.26M
Cap. Flow %
-1.61%
Top 10 Hldgs %
90.21%
Holding
54
New
7
Increased
7
Reduced
10
Closed
8

Top Buys

1
BIL icon
SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$253M
2
DIA icon
SPDR Dow Jones Industrial Average ETF Trust
DIA
$19.3M
3
VRE
Veris Residential
VRE
$3.43M
4
SBRA icon
Sabra Healthcare REIT
SBRA
$2.95M
5
STWD icon
Starwood Property Trust
STWD
$2.7M

Top Sells

1
SPY icon
SPDR S&P 500 ETF Trust
SPY
$160M
2
IWM icon
iShares Russell 2000 ETF
IWM
$66M
3
QQQ icon
Invesco QQQ Trust
QQQ
$20.3M
4
TCO
Taubman Centers Inc.
TCO
$8.44M
5
DBRG icon
DigitalBridge
DBRG
$7.74M

Sector Composition

1 Real Estate 11.79%
2 Consumer Discretionary 0%
3 Communication Services 0%
4 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
AVB icon
26
AvalonBay Communities
AVB
$27.4B
$604K 0.12%
4,110
– –
FPI
27
Farmland Partners
FPI
$475M
$547K 0.11%
90,200
– –
PGRE
28
Paramount Group
PGRE
$1.63B
$543K 0.11%
61,680
– –
FRT icon
29
Federal Realty Investment Trust
FRT
$8.71B
$538K 0.1%
7,220
– –
PLD icon
30
Prologis
PLD
$105B
$525K 0.1%
6,540
– –
CXP
31
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
$471K 0.09%
37,700
– –
AKR icon
32
Acadia Realty Trust
AKR
$2.64B
$414K 0.08%
33,370
– –
HHH icon
33
Howard Hughes
HHH
$4.62B
$390K 0.08%
8,098
– –
KIM icon
34
Kimco Realty
KIM
$15.4B
$378K 0.07%
39,100
– –
SLG icon
35
SL Green Realty
SLG
$4.25B
$367K 0.07%
8,801
– –
ROIC
36
DELISTED
Retail Opportunity Investments Corp.
ROIC
$349K 0.07%
42,100
– –
AAT
37
American Assets Trust
AAT
$1.26B
$251K 0.05%
10,025
– –
INN
38
Summit Hotel Properties
INN
$617M
$210K 0.04%
49,890
+22,300
+81% +$93.9K
VTR icon
39
Ventas
VTR
$30.8B
$194K 0.04%
7,240
– –
SPY icon
40
SPDR S&P 500 ETF Trust
SPY
$662B
$147K 0.03%
572
-621,299
-100% -$160M
SDS icon
41
ProShares UltraShort S&P500
SDS
$439M
$8K ﹤0.01%
+54
New +$8K
VV icon
42
Vanguard Large-Cap ETF
VV
$44.7B
$3K ﹤0.01%
+26
New +$3K
EQR icon
43
Equity Residential
EQR
$25B
$2K ﹤0.01%
40
-11,900
-100% -$595K
APLE icon
44
Apple Hospitality REIT
APLE
$3.09B
$1K ﹤0.01%
80
-588,000
-100% -$7.35M
STAY
45
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
$1K ﹤0.01%
150
-520,000
-100% -$3.47M
DBRG icon
46
DigitalBridge
DBRG
$2.05B
– –
-407,496
Closed -$7.74M
DLR icon
47
Digital Realty Trust
DLR
$55.5B
– –
-7,000
Closed -$838K
IWM icon
48
iShares Russell 2000 ETF
IWM
$67.4B
– –
-398,663
Closed -$66M
PINE
49
Alpine Income Property Trust
PINE
$215M
– –
-59,042
Closed -$1.12M
UDR icon
50
UDR
UDR
$12.9B
– –
-25,000
Closed -$1.17M
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