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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
(-5%)
Cap. Flow
-$88M
Cap. Flow
% of AUM
-7.46%
Top 10 Holdings %
Top 10 Hldgs %
47.97%
Holding
297
New
31
Increased
75
Reduced
86
Closed
37
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 2000 ETF
IWM
|
+$46.6M |
| 2 |
Invesco QQQ Trust
QQQ
|
+$45.2M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$31.7M |
| 4 |
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 |
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 | |
|---|---|---|---|---|---|---|
|
ACRE
51
Ares Commercial Real Estate
ACRE
$256M
| $4.46M | 0.38% |
390,000
-185,000
| -32% | -$2.29M |
|
52
Mitsubishi UFJ Financial
MUFG
$240B
| $4.4M | 0.37% |
707,184
+214,283
| +43% | +$1.38M |
|
53
Lloyds Banking Group
LYG
$86.6B
| $4.21M | 0.36% |
966,059
+294,860
| +44% | +$1.34M |
|
|
AAT
54
American Assets Trust
AAT
$1.57B
| $4.15M | 0.35% |
108,098
| – | – |
|
55
Equity Residential
EQR
$25.9B
| $4.09M | 0.35% |
50,117
+10,100
| +25% | +$797K |
|
56
Vornado Realty Trust
VNO
$7.59B
| $3.78M | 0.32% |
46,739
+9,525
| +26% | +$751K |
|
57
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.8B
| $3.77M | 0.32% |
47,750
| – | – |
|
58
Kite Realty
KRG
$6.01B
| $3.72M | 0.32% |
143,600
-456,400
| -76% | -$11.8M |
|
59
Public Storage
PSA
$55.8B
| $3.69M | 0.31% |
14,878
+1,473
| +11% | +$345K |
|
60
Suncor Energy
SU
$73.7B
| $3.37M | 0.29% |
130,596
+45,563
| +54% | +$1.26M |
|
61
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.6B
| $3.32M | 0.28% |
61,970
-4,362
| -7% | -$236K |
|
|
SJR
62
DELISTED
Shaw Communications Inc.
SJR
| $3.13M | 0.27% |
182,267
+59,089
| +48% | +$1.17M |
|
63
Ventas
VTR
$46.7B
| $3.03M | 0.26% |
53,732
+10,000
| +23% | +$544K |
|
64
Host Hotels & Resorts
HST
$16.4B
| $2.95M | 0.25% |
192,232
| – | – |
|
|
ARE.PRD
65
DELISTED
Alexandria Real Estate Equities Inc 7.00% Series D Preferred Stock
ARE.PRD
| $2.83M | 0.24% |
+102,798
| New | +$2.81M |
|
66
Comcast
CMCSA
$85B
| $2.77M | 0.23% |
98,068
-14,692
| -13% | -$442K |
|
67
Credicorp
BAP
$31B
| $2.64M | 0.22% |
27,158
-24,511
| -47% | -$2.66M |
|
68
Pfizer
PFE
$143B
| $2.6M | 0.22% |
84,926
-5,167
| -6% | -$163K |
|
|
BT
69
DELISTED
BT Group plc (ADR)
BT
| $2.32M | 0.2% |
66,986
+29,002
| +76% | +$1.02M |
|
70
Cardinal Health
CAH
$53.5B
| $2.29M | 0.19% |
25,715
-7,076
| -22% | -$601K |
|
|
GGP
71
DELISTED
GGP Inc.
GGP
| $2.27M | 0.19% |
83,300
+30,000
| +56% | +$807K |
|
72
SL Green Realty
SLG
$3.67B
| $2.25M | 0.19% |
20,531
+2,272
| +12% | +$255K |
|
73
Weyerhaeuser
WY
$17.7B
| $2.17M | 0.18% |
72,500
-69,000
| -49% | -$2.08M |
|
74
3M
MMM
$83.4B
| $2.17M | 0.18% |
17,183
-4,722
| -22% | -$607K |
|
75
LXP Industrial Trust
LXP
$3.45B
| $2.16M | 0.18% |
54,078
-3,360
| -6% | -$142K |
|
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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.