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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
WW
201
DELISTED
WW International
WW
$561K 0.04%
15,000
+7,500
+100% +$302K
VAR
202
DELISTED
Varian Medical Systems, Inc.
VAR
$556K 0.04%
8,488
+17
+0.2% +$1.08K
SITC icon
203
SITE Centers
SITC
$235M
$550K 0.04%
27,163
– –
USB icon
204
US Bancorp
USB
$98.4B
$546K 0.04%
14,926
-189
-1% -$7K
NP
205
DELISTED
Neenah, Inc. Common Stock
NP
$543K 0.04%
13,812
-37
-0.3% -$1.39K
BDN
206
Brandywine Realty Trust
BDN
$545M
$538K 0.03%
40,800
-5,000
-11% -$67.5K
EXPD icon
207
Expeditors International
EXPD
$23.9B
$530K 0.03%
12,016
+45
+0.4% +$1.87K
CASY icon
208
Casey's General Stores
CASY
$31.8B
$525K 0.03%
7,161
+32
+0.4% +$2.17K
WIN
209
DELISTED
Windstream Holdings Inc
WIN
$525K 0.03%
+8,364
New +$540K
XOM icon
210
ExxonMobil
XOM
$611B
$524K 0.03%
6,093
-35
-0.6% -$3.15K
ABCO
211
DELISTED
Advisory Board Co
ABCO
$522K 0.03%
8,776
+295
+3% +$16.9K
TS icon
212
Tenaris
TS
$28.9B
$519K 0.03%
11,100
-20,700
-65% -$939K
TIF
213
DELISTED
Tiffany & Co.
TIF
$516K 0.03%
6,737
-12
-0.2% -$945
SKT icon
214
Tanger
SKT
$4.8B
$513K 0.03%
15,700
– –
BR icon
215
Broadridge
BR
$17.3B
$510K 0.03%
16,072
+53
+0.3% +$1.57K
PWR icon
216
Quanta Services
PWR
$94.3B
$509K 0.03%
+18,500
New +$500K
LSI
217
DELISTED
Life Storage, Inc.
LSI
$507K 0.03%
10,050
– –
EVR icon
218
Evercore
EVR
$13.2B
$492K 0.03%
10,000
+5,000
+100% +$230K
BID
219
DELISTED
Sotheby's
BID
$491K 0.03%
10,000
– –
WKC icon
220
World Kinect Corp
WKC
$1.87B
$489K 0.03%
13,114
+1
+0% +$39
CIVI
221
DELISTED
Civitas Resources
CIVI
$483K 0.03%
90
+45
+100% +$208K
JBTM
222
JBT Marel
JBTM
$6.98B
$483K 0.03%
19,426
+33
+0.2% +$770
TRMB icon
223
Trimble
TRMB
$12.3B
$480K 0.03%
16,153
+35
+0.2% +$957
MANH icon
224
Manhattan Associates
MANH
$9.66B
$477K 0.03%
20,000
– –
ALB icon
225
Albemarle
ALB
$14.2B
$476K 0.03%
7,563
+18
+0.2% +$1.13K
7 8
9
10 11

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BO
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PS
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CGM
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CL
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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.