FM

Forward Management Portfolio holdings

AUM $907M
This Quarter Return
+15.98%
1 Year Return
+0.46%
3 Year Return
+36.86%
5 Year Return
+53.05%
10 Year Return
–
AUM
$546M
AUM Growth
+$546M
Cap. Flow
+$507K
Cap. Flow %
0.09%
Top 10 Hldgs %
89.92%
Holding
49
New
3
Increased
7
Reduced
6
Closed
14

Top Buys

1
SPY icon
SPDR S&P 500 ETF Trust
SPY
$91.5M
2
QQQ icon
Invesco QQQ Trust
QQQ
$60.7M
3
XLK icon
Technology Select Sector SPDR Fund
XLK
$26.1M
4
WELL icon
Welltower
WELL
$6.47M
5
AVB icon
AvalonBay Communities
AVB
$3.87M

Top Sells

1
BIL icon
SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$149M
2
DIA icon
SPDR Dow Jones Industrial Average ETF Trust
DIA
$19.3M
3
EPR.PRE icon
EPR Properties 9.00% Series E Cumulative Convertible Preferred Shares
EPR.PRE
$6.24M
4
DOC icon
Healthpeak Properties
DOC
$5.88M
5
STWD icon
Starwood Property Trust
STWD
$2.7M

Sector Composition

1 Real Estate 14.46%
2 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
BIL icon
1
SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$42.1B
$196M 35.87% 2,138,491 -1,623,104 -43% -$149M
QQQ icon
2
Invesco QQQ Trust
QQQ
$364B
$116M 21.25% 468,408 +245,217 +110% +$60.7M
SPY icon
3
SPDR S&P 500 ETF Trust
SPY
$658B
$91.6M 16.79% 297,146 +296,574 +51,849% +$91.5M
XLK icon
4
Technology Select Sector SPDR Fund
XLK
$83.9B
$26.1M 4.78% +249,786 New +$26.1M
LXP.PRC icon
5
LXP Industrial Trust 6.5% Series C Cumulative Convertible Preferred Stock
LXP.PRC
$90.1M
$13.4M 2.45% 248,028 -26,032 -9% -$1.4M
RLJ.PRA icon
6
RLJ Lodging Trust $1.95 Series A Cumulative Convertible Preferred Shares
RLJ.PRA
$313M
$12.3M 2.25% 560,110 – –
SBRA icon
7
Sabra Healthcare REIT
SBRA
$4.58B
$11.4M 2.09% 790,000 -5,000 -0.6% -$72.2K
QTS.PRB
8
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$9.02M 1.65% 63,500 – –
CLPR
9
Clipper Realty
CLPR
$72.3M
$7.89M 1.45% 973,985 +100 +0% +$810
JCAP
10
DELISTED
Jernigan Capital, Inc.
JCAP
$7.31M 1.34% 534,000 – –
WY icon
11
Weyerhaeuser
WY
$18.7B
$7.3M 1.34% 325,100 -17,017 -5% -$382K
WELL icon
12
Welltower
WELL
$113B
$6.47M 1.19% +125,000 New +$6.47M
STAG icon
13
STAG Industrial
STAG
$6.88B
$6.16M 1.13% 210,000 – –
BPY
14
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$5.56M 1.02% 562,300 +202,356 +56% +$2M
CLDT
15
Chatham Lodging
CLDT
$374M
$4.85M 0.89% 792,500 +110 +0% +$673
AVB icon
16
AvalonBay Communities
AVB
$27.9B
$4.5M 0.83% 29,110 +25,000 +608% +$3.87M
VRE
17
Veris Residential
VRE
$1.47B
$3.44M 0.63% 225,100 – –
WPC icon
18
W.P. Carey
WPC
$14.7B
$3.04M 0.56% +45,000 New +$3.04M
EPR.PRC icon
19
EPR Properties 5.75% Series C Cumulative Convertible Preferred Shares
EPR.PRC
$132M
$2.71M 0.5% 148,700 -100,000 -40% -$1.82M
ACR
20
ACRES Commercial Realty
ACR
$156M
$2.15M 0.39% 810,000 – –
MAC icon
21
Macerich
MAC
$4.65B
$1.89M 0.35% 210,965 +10,965 +5% +$98.3K
EQIX icon
22
Equinix
EQIX
$76.9B
$843K 0.15% 1,200 – –
ARE icon
23
Alexandria Real Estate Equities
ARE
$14.1B
$813K 0.15% 5,015 -1,700 -25% -$276K
FPI
24
Farmland Partners
FPI
$487M
$618K 0.11% 90,200 – –
FRT icon
25
Federal Realty Investment Trust
FRT
$8.67B
$616K 0.11% 7,220 – –
1
2