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Forward Management Portfolio holdings
AUM
$907M
1-Year Est. Return
0.46%
This Fund
S&P 500
This Quarter
Est. Return
-5.62%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$325M
AUM Growth
-$266M
(-45%)
Cap. Flow
-$221M
Cap. Flow
% of AUM
-68.17%
Top 10 Holdings %
Top 10 Hldgs %
69.81%
Holding
159
New
4
Increased
8
Reduced
21
Closed
113
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ProShares UltraShort S&P500
SDS
|
+$35.2M |
| 2 |
BPY
Brookfield Property Partners L.P. Limited Partnership Units
BPY
|
+$12.8M |
| 3 |
DigitalBridge
DBRG
|
+$3.48M |
| 4 |
National Storage Affiliates Trust
NSA
|
+$505K |
| 5 |
Sabra Healthcare REIT
SBRA
|
+$500K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$98.4M |
| 2 |
BHR.PRB
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
|
+$28M |
| 3 |
RPT.PRD
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
|
+$13.2M |
| 4 |
iShares MSCI ACWI ex US ETF
ACWX
|
+$9.58M |
| 5 |
SITE Centers
SITC
|
+$9.06M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 30.83% |
| 2 | Financials | 2.35% |
| 3 | Communication Services | 0.23% |
| 4 | Energy | 0% |
| 5 | Healthcare | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Novartis
NVS
$293B
| – | – |
-24,989
| Closed | -$1.93M |
|
102
Owens Corning
OC
$11.6B
| – | – |
-4,539
| Closed | -$246K |
|
103
Ollie's Bargain Outlet
OLLI
$4.02B
| – | – |
-2,260
| Closed | -$217K |
|
104
Grupo Aeroportuario Centro Norte
OMAB
$5.08B
| – | – |
-14,748
| Closed | -$840K |
|
105
Paycom
PAYC
$6.9B
| – | – |
-1,414
| Closed | -$220K |
|
106
PepsiCo
PEP
$187B
| – | – |
-4,857
| Closed | -$543K |
|
107
Pfizer
PFE
$143B
| – | – |
-36,001
| Closed | -$1.5M |
|
108
Procter & Gamble
PG
$349B
| – | – |
-7,197
| Closed | -$599K |
|
109
Pool Corp
POOL
$7.33B
| – | – |
-3,816
| Closed | -$637K |
|
110
Public Storage
PSA
$55.8B
| – | – |
-1,148
| Closed | -$232K |
|
111
Phillips 66
PSX
$82.9B
| – | – |
-10,629
| Closed | -$1.2M |
|
112
Prudential
PUK
$35.2B
| – | – |
-16,139
| Closed | -$719K |
|
113
Qiagen
QGEN
$8.49B
| – | – |
-7,655
| Closed | -$308K |
|
114
RBC Bearings
RBC
$18.2B
| – | – |
-1,974
| Closed | -$297K |
|
115
Robert Half
RHI
$4.28B
| – | – |
-26,228
| Closed | -$1.85M |
|
116
RTX Corp
RTX
$261B
| – | – |
-15,525
| Closed | -$1.37M |
|
117
Starbucks
SBUX
$120B
| – | – |
-12,765
| Closed | -$725K |
|
|
118
SITE Centers
SITC
$235M
| – | – |
-867,360
| Closed | -$9.06M |
|
119
SLB Ltd
SLB
$70.3B
| – | – |
-40,213
| Closed | -$2.45M |
|
120
Simon Property Group
SPG
$74.2B
| – | – |
-35
| Closed | -$6K |
|
121
AT&T
T
$152B
| – | – |
-19,195
| Closed | -$487K |
|
122
Gentherm
THRM
$1.1B
| – | – |
-4,799
| Closed | -$218K |
|
123
Terreno Realty
TRNO
$7.94B
| – | – |
-50
| Closed | -$2K |
|
124
TSMC
TSM
$2.07T
| – | – |
-78,127
| Closed | -$3.45M |
|
125
Texas Instruments
TXN
$258B
| – | – |
-12,801
| Closed | -$1.37M |
|
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Forward Management's Q4 2018 Portfolio in Review
As of Q4 2018, Forward Management held 159 positions worth $325M, down 45% from $591M the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Forward Management withdrew a net $221M in Q4 2018, closing 113 positions and reducing 21 holdings. Its most notable exit was RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest, an estimated $13.2M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 31% of assets, up from 20% a quarter earlier, followed by Financials and Communication Services.
Against the trend, Forward Management opened a new position in ProShares UltraShort S&P500 worth $39.5M.
- Forward Management's largest Q4 2018 buy was ProShares UltraShort S&P500: 36,849 shares worth $39.5M.
- Forward Management added most to DigitalBridge in Q4 2018, an estimated $3.48M increase.
- Forward Management's biggest Q4 2018 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $98.4M.
- Forward Management fully exited RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest in Q4 2018, selling an estimated $13.2M.
- Forward Management's ten largest holdings make up 70% of its $325M portfolio in Q4 2018.
- Forward Management opened 4 new positions and closed 113 in Q4 2018.
- Forward Management's portfolio value fell 45% quarter-over-quarter to $325M.
Based on Forward Management's 13F filing for Q4 2018, filed 1 Feb 2019.