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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
+1.01%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$566M
AUM Growth
-$106M
Cap. Flow
-$4.15M
Cap. Flow %
-0.73%
Top 10 Hldgs %
73.17%
Holding
50
New
4
Increased
4
Reduced
18
Closed
2

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$82.6M
2
GDX icon
VanEck Gold Miners ETF
GDX
+$19.9M
3
VNO icon
Vornado Realty Trust
VNO
+$9.61M
4
DOC icon
Healthpeak Properties
DOC
+$7.31M
5
STAY
Extended Stay America, Inc. Paired Share Unit
STAY
+$3.09M

Top Sells

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$69.6M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$49.6M
3
BPY
Brookfield Property Partners L.P. Limited Partnership Units
BPY
+$5.37M
4
JCAP
Jernigan Capital, Inc.
JCAP
+$1.52M
5
VRE
Veris Residential
VRE
+$977K

Sector Composition

Rank Sector Weight
1 Real Estate 21.5%
2 Consumer Discretionary 1.69%
3 Financials 1.44%
4 Communication Services 0.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$169M 29.86%
769,342
+286,990
+59% +$82.6M
BIL icon
2
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.8B
$108M 19.16%
1,579,061
-760,387
-33% -$69.6M
QQQ icon
3
Invesco QQQ Trust
QQQ
$466B
$33.4M 5.91%
239,238
-269,749
-53% -$49.6M
GDX icon
4
VanEck Gold Miners ETF
GDX
$21.8B
$17.3M 3.05%
+902,013
New +$19.9M
LXP.PRC icon
5
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
$90M
$16.6M 2.94%
309,205
-855
-0.3% -$45.8K
RLJ.PRA icon
6
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$323M
$15.7M 2.78%
600,110
-14,000
-2% -$361K
CLDT
7
Chatham Lodging
CLDT
$624M
$14.6M 2.57%
771,490
– –
BHR.PRB
8
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
$52.7M
$14.5M 2.56%
778,838
-38,144
-5% -$743K
UBP.PRG.CL
9
DELISTED
Urstadt Biddle Properties Inc. 6.75% Series G Cumulative Redeemable Preferred Stock, liquidation pre
UBP.PRG.CL
$11.6M 2.05%
450,080
– –
EPR.PRE icon
10
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
$112M
$11M 1.95%
290,110
– –
JCAP
11
DELISTED
Jernigan Capital, Inc.
JCAP
$10.9M 1.93%
534,000
-72,108
-12% -$1.52M
CLPR
12
Clipper Realty
CLPR
$46.7M
$10.7M 1.9%
960,485
– –
SBRA icon
13
Sabra Healthcare REIT
SBRA
$5.07B
$10.3M 1.83%
525,000
– –
BPY
14
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$9.67M 1.71%
510,850
-269,300
-35% -$5.37M
STAY
15
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
$9.54M 1.69%
564,650
+175,030
+45% +$3.09M
APLE icon
16
Apple Hospitality REIT
APLE
$3.98B
$9.37M 1.66%
591,080
+125,900
+27% +$2.04M
VNO icon
17
Vornado Realty Trust
VNO
$7.59B
$9.17M 1.62%
+143,000
New +$9.61M
ACR
18
ACRES Commercial Realty
ACR
$127M
$9.16M 1.62%
270,000
– –
DBRG icon
19
DigitalBridge
DBRG
$2.92B
$8.15M 1.44%
407,496
– –
EPR.PRC icon
20
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$148M
$7.97M 1.41%
248,700
– –
BDN
21
Brandywine Realty Trust
BDN
$545M
$7.79M 1.38%
544,120
-5,100
-0.9% -$77.9K
DOC icon
22
Healthpeak Properties
DOC
$15.5B
$7.51M 1.33%
+235,000
New +$7.31M
QTS.PRB
23
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$7.04M 1.24%
63,500
– –
STAG icon
24
STAG Industrial
STAG
$7.97B
$6.35M 1.12%
210,000
– –
BRX icon
25
Brixmor Property Group
BRX
$9.99B
$1.16M 0.21%
+65,000
New +$1.17M
1
2

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CGM
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CL
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AEPI
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Forward Management's Q2 2019 Portfolio in Review

As of Q2 2019, Forward Management held 50 positions worth $566M, down 16% from $672M the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Forward Management's Q2 2019 filing shows 4 new, 4 increased, 18 reduced and 2 closed positions. Its largest new stake was VanEck Gold Miners ETF: 902,013 shares worth $17.3M. The largest sale was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, an estimated $69.6M.

By sector, the portfolio is most concentrated in Real Estate at 22% of assets, up from 17% a quarter earlier, followed by Consumer Discretionary and Financials.

  • Forward Management's largest Q2 2019 buy was VanEck Gold Miners ETF: 902,013 shares worth $17.3M.
  • Forward Management added most to State Street SPDR S&P 500 ETF Trust in Q2 2019, an estimated $82.6M increase.
  • Forward Management's biggest Q2 2019 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $69.6M.
  • Forward Management fully exited Veris Residential in Q2 2019, selling an estimated $977K.
  • Forward Management's ten largest holdings make up 73% of its $566M portfolio in Q2 2019.
  • Forward Management opened 4 new positions and closed 2 in Q2 2019.
  • Forward Management's portfolio value fell 16% quarter-over-quarter to $566M.

Based on Forward Management's 13F filing for Q2 2019, filed 15 Jul 2019.