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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
WMT icon
151
Walmart Inc
WMT
$909B
$988K 0.06%
40,074
-10,857
-21% -$274K
TSM icon
152
TSMC
TSM
$2.07T
$985K 0.06%
58,083
+4,237
+8% +$72.3K
ARE icon
153
Alexandria Real Estate Equities
ARE
$8.75B
$980K 0.06%
15,350
– –
NOV icon
154
NOV
NOV
$7.01B
$976K 0.06%
13,863
-11,644
-46% -$779K
EMR icon
155
Emerson Electric
EMR
$78.2B
$963K 0.06%
14,880
-399
-3% -$24.4K
GOV
156
DELISTED
Government Properties Income Trust
GOV
$962K 0.06%
40,200
-10,000
-20% -$246K
CIEN icon
157
Ciena
CIEN
$53B
$938K 0.06%
38,600
+12,600
+48% +$284K
TXN icon
158
Texas Instruments
TXN
$258B
$894K 0.06%
22,189
-399
-2% -$15.5K
SAFE
159
Safehold
SAFE
$1.22B
$890K 0.06%
15,189
-2,527
-14% -$142K
TRNO icon
160
Terreno Realty
TRNO
$7.94B
$875K 0.06%
49,220
+30,000
+156% +$543K
ENIA
161
DELISTED
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
$875K 0.06%
101,043
-154,809
-61% -$1.32M
DSX icon
162
Diana Shipping
DSX
$255M
$873K 0.06%
+103,556
New +$794K
IMAX icon
163
IMAX
IMAX
$2.16B
$847K 0.06%
28,000
-11,000
-28% -$296K
CUZ icon
164
Cousins Properties
CUZ
$5.23B
$835K 0.05%
28,730
+5,668
+25% +$165K
PG icon
165
Procter & Gamble
PG
$349B
$834K 0.05%
11,037
-3,350
-23% -$267K
PM icon
166
Philip Morris
PM
$301B
$830K 0.05%
9,586
-56,970
-86% -$4.98M
GOOG icon
167
Alphabet (Google) Class C
GOOG
$4.22T
$822K 0.05%
40,150
+6,023
+18% +$133K
BDX icon
168
Becton Dickinson
BDX
$43.6B
$814K 0.05%
8,346
-261
-3% -$25.5K
IBM icon
169
IBM
IBM
$200B
$813K 0.05%
4,594
-3,085
-40% -$561K
ADP icon
170
Automatic Data Processing
ADP
$102B
$787K 0.05%
12,383
-8,462
-41% -$538K
HL icon
171
Hecla Mining
HL
$9.61B
$785K 0.05%
250,000
– –
HXL icon
172
Hexcel
HXL
$7.83B
$776K 0.05%
20,000
-6,000
-23% -$218K
SPLK
173
DELISTED
Splunk Inc
SPLK
$776K 0.05%
16,000
– –
ABR icon
174
Arbor Realty Trust
ABR
$996M
$766K 0.05%
112,970
-3,650
-3% -$25.8K
STWD icon
175
Starwood Property Trust
STWD
$6.3B
$750K 0.05%
38,818
– –
5 6
7
8 9

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CGM
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AEPI
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AIL
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H6H
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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.