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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
+9.94%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$555M
AUM Growth
-$47.8M
Cap. Flow
-$90.8M
Cap. Flow %
-16.36%
Top 10 Hldgs %
92.58%
Holding
40
New
6
Increased
4
Reduced
8
Closed
13

Top Buys

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$26M
2
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$24.4M
3
IWN icon
iShares Russell 2000 Value ETF
IWN
+$15M
4
XLI icon
State Street Industrial Select Sector SPDR ETF
XLI
+$14.7M
5
XLB icon
State Street Materials Select Sector SPDR ETF
XLB
+$14.6M

Top Sells

Rank Stock Value
1
SHY icon
iShares 1-3 Year Treasury Bond ETF
SHY
+$100M
2
XLY icon
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
+$29.3M
3
LXP.PRC icon
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
+$14.3M
4
RLJ.PRA icon
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
+$12.8M
5
QTS.PRB
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
+$9.19M

Sector Composition

Rank Sector Weight
1 Real Estate 9.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAT
26
American Assets Trust
AAT
$1.57B
$290K 0.05%
10,025
– –
VTR icon
27
Ventas
VTR
$46.7B
$281K 0.05%
5,720
-1,520
-21% -$70.3K
HHH icon
28
Howard Hughes
HHH
$4.19B
– –
-8,098
Closed -$439K
HPP
29
Hudson Pacific Properties
HPP
$853M
– –
-7,157
Closed -$1.08M
INN
30
Summit Hotel Properties
INN
$722M
– –
-49,890
Closed -$260K
KIM icon
31
Kimco Realty
KIM
$17.6B
– –
-39,100
Closed -$441K
LXP.PRC icon
32
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
$90M
– –
-243,449
Closed -$14.3M
MAC icon
33
Macerich
MAC
$7.35B
– –
-210,965
Closed -$1.46M
PGRE
34
DELISTED
Paramount Group
PGRE
– –
-61,680
Closed -$430K
RLJ.PRA icon
35
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$323M
– –
-550,110
Closed -$12.8M
SDS icon
36
ProShares UltraShort S&P500
SDS
$390M
– –
-919
Closed -$366K
WELL icon
37
Welltower
WELL
$172B
– –
-125,000
Closed -$6.81M
WPC icon
38
W.P. Carey
WPC
$16.9B
– –
-45,945
Closed -$2.93M
QTS.PRB
39
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
– –
-63,500
Closed -$9.19M
QTS
40
DELISTED
QTS REALTY TRUST, INC.
QTS
– –
-25,000
Closed -$1.6M
1
2

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Forward Management's Q4 2020 Portfolio in Review

As of Q4 2020, Forward Management held 40 positions worth $555M, down 7.9% from $603M the previous quarter. Its ten largest holdings account for 93% of the portfolio.

Forward Management withdrew a net $90.8M in Q4 2020, closing 13 positions and reducing 8 holdings. Its most notable exit was LXP Industrial Trust 6.5% Series C Preferred Stock, an estimated $14.3M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 9.8% of assets, down from 12% a quarter earlier.

Against the trend, Forward Management opened a new position in Invesco QQQ Trust worth $27.8M.

  • Forward Management's largest Q4 2020 buy was Invesco QQQ Trust: 88,466 shares worth $27.8M.
  • Forward Management added most to State Street SPDR S&P 500 ETF Trust in Q4 2020, an estimated $4.21M increase.
  • Forward Management's biggest Q4 2020 reduction was iShares 1-3 Year Treasury Bond ETF, cutting an estimated $100M.
  • Forward Management fully exited LXP Industrial Trust 6.5% Series C Preferred Stock in Q4 2020, selling an estimated $14.3M.
  • Forward Management's ten largest holdings make up 93% of its $555M portfolio in Q4 2020.
  • Forward Management opened 6 new positions and closed 13 in Q4 2020.
  • Forward Management's portfolio value fell 7.9% quarter-over-quarter to $555M.

Based on Forward Management's 13F filing for Q4 2020, filed 5 Feb 2021.