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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
+0.25%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$1.54B
AUM Growth
+$322M
Cap. Flow
-$50.9M
Cap. Flow %
-3.3%
Top 10 Hldgs %
43.87%
Holding
405
New
61
Increased
102
Reduced
104
Closed
42

Top Buys

Rank Stock Value
1
DLR icon
Digital Realty Trust
DLR
+$21.5M
2
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$15.1M
3
AEC
ASSOCIATED ESTATES REALTY CORP
AEC
+$8.66M
4
DRE
Duke Realty Corp.
DRE
+$7.86M
5
MPT
Medical Properties Trust
MPT
+$5.96M

Top Sells

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$35.1M
2
SUI icon
Sun Communities
SUI
+$19.9M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$11.4M
4
RPAI
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
+$11.3M
5
SVC
Service Properties Trust
SVC
+$10.5M

Sector Composition

Rank Sector Weight
1 Real Estate 39.94%
2 Healthcare 3.37%
3 Financials 2.13%
4 Energy 2.13%
5 Industrials 1.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVS icon
51
Novartis
NVS
$293B
$5.77M 0.37%
83,927
+2,014
+2% +$133K
FPO
52
DELISTED
First Potomac Realty Trust
FPO
$5.6M 0.36%
445,700
– –
MPT
53
Medical Properties Trust
MPT
$2.84B
$5.43M 0.35%
+446,500
New +$5.96M
EPR.PRC icon
54
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$148M
$5.3M 0.34%
248,700
– –
BAP icon
55
Credicorp
BAP
$31B
$5.03M 0.33%
40,023
+7,337
+22% +$874K
FMX icon
56
Fomento Económico Mexicano
FMX
$44B
$4.69M 0.3%
48,280
+7,782
+19% +$782K
CMLP
57
DELISTED
CRESTWOOD MIDSTREAM PARTNERS LP NEW UTS REP LTD PRT INT (DE)
CMLP
$4.42M 0.29%
+200,000
New +$4.68M
SNY icon
58
Sanofi
SNY
$107B
$4.3M 0.28%
85,032
-10,690
-11% -$544K
SPG icon
59
Simon Property Group
SPG
$74.2B
$4.12M 0.27%
29,545
-17,752
-38% -$2.58M
PSA icon
60
Public Storage
PSA
$55.8B
$3.88M 0.25%
24,200
-78
-0.3% -$12.4K
BPY
61
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$3.88M 0.25%
200,000
– –
QCOM icon
62
Qualcomm
QCOM
$181B
$3.86M 0.25%
57,635
+9,641
+20% +$632K
FM
63
DELISTED
iShares Frontier and Select EM ETF
FM
$3.86M 0.25%
122,381
+50,981
+71% +$1.58M
IGIB icon
64
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.6B
$3.85M 0.25%
71,364
-736
-1% -$39.6K
AMH icon
65
American Homes 4 Rent
AMH
$12.3B
$3.78M 0.25%
+234,000
New +$3.75M
BXP icon
66
Boston Properties
BXP
$11.1B
$3.56M 0.23%
33,345
-3,000
-8% -$317K
VNO icon
67
Vornado Realty Trust
VNO
$7.59B
$3.56M 0.23%
57,967
-9,568
-14% -$592K
BCS icon
68
Barclays
BCS
$93.8B
$3.46M 0.22%
219,279
+218,417
+25,338% +$3.42M
PLD icon
69
Prologis
PLD
$140B
$3.21M 0.21%
85,252
-34,000
-29% -$1.28M
WELL icon
70
Welltower
WELL
$172B
$3.17M 0.21%
50,900
– –
RDS.A
71
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$3.12M 0.2%
47,556
-40,802
-46% -$2.67M
NSC icon
72
Norfolk Southern
NSC
$76.4B
$3.05M 0.2%
39,371
-31,724
-45% -$2.38M
HST icon
73
Host Hotels & Resorts
HST
$16.4B
$3.03M 0.2%
171,373
– –
CVX icon
74
Chevron
CVX
$373B
$2.91M 0.19%
23,971
+632
+3% +$77.7K
BOXC
75
DELISTED
Brookfield Can Office Properties
BOXC
$2.8M 0.18%
109,580
– –
1 2
3
4 5

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Forward Management's Q3 2013 Portfolio in Review

As of Q3 2013, Forward Management held 405 positions worth $1.54B, up 26% from $1.22B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Forward Management withdrew a net $50.9M in Q3 2013, closing 42 positions and reducing 104 holdings. Its most notable exit was Sun Communities, an estimated $19.9M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 40% of assets, down from 51% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Forward Management opened a new position in iShares MSCI Emerging Markets ETF worth $15.5M.

  • Forward Management's largest Q3 2013 buy was iShares MSCI Emerging Markets ETF: 380,978 shares worth $15.5M.
  • Forward Management added most to Digital Realty Trust in Q3 2013, an estimated $21.5M increase.
  • Forward Management's biggest Q3 2013 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $35.1M.
  • Forward Management fully exited Sun Communities in Q3 2013, selling an estimated $19.9M.
  • Forward Management's ten largest holdings make up 44% of its $1.54B portfolio in Q3 2013.
  • Forward Management opened 61 new positions and closed 42 in Q3 2013.
  • Forward Management's portfolio value rose 26% quarter-over-quarter to $1.54B.

Based on Forward Management's 13F filing for Q3 2013, filed 6 Nov 2013.