FM

Forward Management Portfolio holdings

AUM $907M
This Quarter Return
+5.05%
1 Year Return
+0.46%
3 Year Return
+36.86%
5 Year Return
+53.05%
10 Year Return
–
AUM
$591M
AUM Growth
+$591M
Cap. Flow
-$36.8M
Cap. Flow %
-6.23%
Top 10 Hldgs %
62.49%
Holding
178
New
10
Increased
9
Reduced
119
Closed
23

Top Buys

1
SPY icon
SPDR S&P 500 ETF Trust
SPY
$57.3M
2
SITC icon
SITE Centers
SITC
$9.06M
3
APLE icon
Apple Hospitality REIT
APLE
$8.13M
4
QTS.PRB
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$7.39M
5
LXP icon
LXP Industrial Trust
LXP
$5.4M

Top Sells

1
AMH icon
American Homes 4 Rent
AMH
$13.2M
2
SBRA icon
Sabra Healthcare REIT
SBRA
$13.1M
3
CORR.PRA
CorEnergy Infrastructure Trust, Inc Depositary Shares representing a 1/100th fractional interest of a share of 7.375% Series A Cumulative Redeemable Preferred Stock
CORR.PRA
$11.3M
4
DBRG icon
DigitalBridge
DBRG
$11.3M
5
PK icon
Park Hotels & Resorts
PK
$8.44M

Sector Composition

1 Real Estate 20.04%
2 Technology 2.97%
3 Financials 2.44%
4 Industrials 1.63%
5 Healthcare 1.61%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
SPY icon
1
SPDR S&P 500 ETF Trust
SPY
$658B
$193M 32.7% 664,325 +197,003 +42% +$57.3M
BHR.PRB
2
Braemar Hotels & Resorts Inc. 5.50% Series B Cumulative Convertible Preferred Stock
BHR.PRB
$59.1M
$47M 7.96% 2,481,315 -150,440 -6% -$2.85M
JCAP
3
DELISTED
Jernigan Capital, Inc.
JCAP
$18.4M 3.11% 952,150 -118,600 -11% -$2.29M
RLJ.PRA icon
4
RLJ Lodging Trust $1.95 Series A Cumulative Convertible Preferred Shares
RLJ.PRA
$313M
$18.3M 3.1% 704,110 – –
CLDT
5
Chatham Lodging
CLDT
$374M
$16.1M 2.73% 771,490 -1,300 -0.2% -$27.2K
LXP.PRC icon
6
LXP Industrial Trust 6.5% Series C Cumulative Convertible Preferred Stock
LXP.PRC
$90.1M
$15.7M 2.65% 316,515 – –
EPR.PRE icon
7
EPR Properties 9.00% Series E Cumulative Convertible Preferred Shares
EPR.PRE
$108M
$15.5M 2.62% 430,340 -162,892 -27% -$5.85M
RPT.PRD
8
DELISTED
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
$13.2M 2.24% 245,770 – –
CLPR
9
Clipper Realty
CLPR
$72.3M
$12.9M 2.18% 950,110 -52,200 -5% -$706K
SBRA icon
10
Sabra Healthcare REIT
SBRA
$4.58B
$11.6M 1.96% 500,150 -564,700 -53% -$13.1M
UBP.PRG.CL
11
DELISTED
Urstadt Biddle Properties Inc. 6.75% Series G Cumulative Redeemable Preferred Stock, liquidation pre
UBP.PRG.CL
$11.4M 1.93% 450,080 – –
STAG icon
12
STAG Industrial
STAG
$6.88B
$11.3M 1.91% 410,000 -296,118 -42% -$8.14M
ACWX icon
13
iShares MSCI ACWI ex US ETF
ACWX
$6.63B
$9.58M 1.62% 200,910 – –
SITC icon
14
SITE Centers
SITC
$644M
$9.06M 1.53% +676,700 New +$9.06M
ACR
15
ACRES Commercial Realty
ACR
$156M
$8.9M 1.51% 810,130 -117,732 -13% -$1.29M
TCO
16
DELISTED
Taubman Centers Inc.
TCO
$8.71M 1.47% 145,535 -1,950 -1% -$117K
APLE icon
17
Apple Hospitality REIT
APLE
$3.1B
$8.13M 1.38% +465,100 New +$8.13M
QTS.PRB
18
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$7.39M 1.25% +70,000 New +$7.39M
WHLRP
19
Wheeler Real Estate Investment Trust, Inc. Preferred Stock
WHLRP
$3.62M
$7.21M 1.22% 388,119 – –
EPR.PRC icon
20
EPR Properties 5.75% Series C Cumulative Convertible Preferred Shares
EPR.PRC
$132M
$6.96M 1.18% 248,700 – –
DBRG icon
21
DigitalBridge
DBRG
$2.08B
$6.22M 1.05% 1,021,700 -1,850,542 -64% -$11.3M
LXP icon
22
LXP Industrial Trust
LXP
$2.69B
$5.4M 0.91% +650,000 New +$5.4M
TSM icon
23
TSMC
TSM
$1.2T
$3.45M 0.58% 78,127 -29,425 -27% -$1.3M
INFY icon
24
Infosys
INFY
$69.7B
$3.16M 0.53% 310,668 +72,969 +31% +$742K
LMRKN
25
DELISTED
Landmark Infrastructure Partners LP 7% Series C Fltg/Fxd Perpetual Conv Preferred Stock
LMRKN
$2.52M 0.43% 109,335 -15,235 -12% -$351K
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