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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
REXR icon
76
Rexford Industrial Realty
REXR
$8.46B
$2.71M 0.18%
+200,659
New +$2.75M
MCD icon
77
McDonald's
MCD
$190B
$2.68M 0.17%
27,868
+777
+3% +$75.9K
MAC icon
78
Macerich
MAC
$7.35B
$2.65M 0.17%
46,900
– –
HMSY
79
DELISTED
HMS Holdings Corp.
HMSY
$2.55M 0.17%
109,462
+33,617
+44% +$822K
MSFT icon
80
Microsoft
MSFT
$2.93T
$2.5M 0.16%
74,631
+14,359
+24% +$472K
PFE icon
81
Pfizer
PFE
$143B
$2.44M 0.16%
89,566
+2,385
+3% +$64.9K
CMCSA icon
82
Comcast
CMCSA
$85B
$2.43M 0.16%
108,090
+2,736
+3% +$59.6K
GGP
83
DELISTED
GGP Inc.
GGP
$2.36M 0.15%
122,400
– –
HIW icon
84
Highwoods Properties
HIW
$3.67B
$2.36M 0.15%
+66,828
New +$2.38M
MMM icon
85
3M
MMM
$83.4B
$2.31M 0.15%
23,146
-225
-1% -$21.9K
UDR icon
86
UDR
UDR
$12.9B
$2.29M 0.15%
96,408
– –
VTR icon
87
Ventas
VTR
$46.7B
$2.27M 0.15%
32,400
-12,260
-27% -$910K
CPHD
88
DELISTED
Cepheid Inc
CPHD
$2.26M 0.15%
61,810
+16,060
+35% +$582K
TCO.PRK
89
DELISTED
TAUBMAN CENTERS, INC. 6.25% SER K
TCO.PRK
$2.24M 0.15%
100,000
– –
AMT icon
90
American Tower
AMT
$79.2B
$2.22M 0.14%
30,000
+5,000
+20% +$361K
FCE.A
91
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$2.2M 0.14%
116,307
-17,600
-13% -$319K
SLG icon
92
SL Green Realty
SLG
$3.67B
$2.19M 0.14%
25,515
-5,166
-17% -$450K
SNP
93
DELISTED
CHINA PETROLEUM & CHEMICAL CORPORATION ADS (REP 100 ORDINARY H SHARES)
SNP
$2.17M 0.14%
27,775
+12,500
+82% +$935K
BLK icon
94
Blackrock
BLK
$166B
$2.13M 0.14%
7,873
+268
+4% +$72.8K
BNS icon
95
Scotiabank
BNS
$110B
$2.12M 0.14%
41,111
– –
HME
96
DELISTED
HOME PROPERTIES, INC
HME
$2.11M 0.14%
36,600
+4,900
+15% +$301K
KLAC icon
97
KLA
KLAC
$278B
$2.03M 0.13%
333,820
+109,930
+49% +$645K
CME icon
98
CME Group
CME
$88.5B
$2M 0.13%
27,041
-25,120
-48% -$1.85M
UBA
99
DELISTED
Urstadt Biddle Properties Inc. Class A
UBA
$1.99M 0.13%
100,000
– –
DOC icon
100
Healthpeak Properties
DOC
$15.5B
$1.96M 0.13%
52,594
– –
2 3
4
5 6

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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.