FM

Forward Management Portfolio holdings

AUM $907M
This Quarter Return
+9.93%
1 Year Return
+0.46%
3 Year Return
+36.86%
5 Year Return
+53.05%
10 Year Return
–
AUM
$555M
AUM Growth
+$555M
Cap. Flow
-$85.9M
Cap. Flow %
-15.48%
Top 10 Hldgs %
92.58%
Holding
40
New
6
Increased
4
Reduced
7
Closed
13

Top Buys

1
QQQ icon
Invesco QQQ Trust
QQQ
$27.8M
2
XLV icon
Health Care Select Sector SPDR Fund
XLV
$25.4M
3
IWN icon
iShares Russell 2000 Value ETF
IWN
$16.7M
4
XLB icon
Materials Select Sector SPDR Fund
XLB
$15.5M
5
XLI icon
Industrial Select Sector SPDR Fund
XLI
$15.5M

Top Sells

1
SHY icon
iShares 1-3 Year Treasury Bond ETF
SHY
$100M
2
XLY icon
Consumer Discretionary Select Sector SPDR Fund
XLY
$30.6M
3
LXP.PRC icon
LXP Industrial Trust 6.5% Series C Cumulative Convertible Preferred Stock
LXP.PRC
$14.3M
4
RLJ.PRA icon
RLJ Lodging Trust $1.95 Series A Cumulative Convertible Preferred Shares
RLJ.PRA
$12.8M
5
QTS.PRB
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$9.19M

Sector Composition

1 Real Estate 9.83%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
SPY icon
1
SPDR S&P 500 ETF Trust
SPY
$658B
$234M 42.08% 624,681 +11,875 +2% +$4.44M
SHY icon
2
iShares 1-3 Year Treasury Bond ETF
SHY
$24.5B
$137M 24.7% 1,587,368 -1,159,041 -42% -$100M
QQQ icon
3
Invesco QQQ Trust
QQQ
$364B
$27.8M 5% +88,466 New +$27.8M
XLY icon
4
Consumer Discretionary Select Sector SPDR Fund
XLY
$23.2B
$26.6M 4.79% 165,426 -190,044 -53% -$30.6M
XLV icon
5
Health Care Select Sector SPDR Fund
XLV
$33.9B
$25.4M 4.57% +223,549 New +$25.4M
IWN icon
6
iShares Russell 2000 Value ETF
IWN
$11.8B
$16.7M 3.01% +126,972 New +$16.7M
XLB icon
7
Materials Select Sector SPDR Fund
XLB
$5.53B
$15.5M 2.79% +213,920 New +$15.5M
XLI icon
8
Industrial Select Sector SPDR Fund
XLI
$23.3B
$15.5M 2.79% +174,745 New +$15.5M
CLDT
9
Chatham Lodging
CLDT
$374M
$8.66M 1.56% 801,640 -15,970 -2% -$172K
CLPR
10
Clipper Realty
CLPR
$72.3M
$7.12M 1.28% 1,009,685 +300 +0% +$2.12K
SBRA icon
11
Sabra Healthcare REIT
SBRA
$4.58B
$7.1M 1.28% 408,720 -360,030 -47% -$6.25M
NTST
12
NETSTREIT Corp
NTST
$1.75B
$6.82M 1.23% 350,000 – –
STAG icon
13
STAG Industrial
STAG
$6.88B
$6.58M 1.18% 210,000 – –
BXP icon
14
Boston Properties
BXP
$11.5B
$4.87M 0.88% +51,520 New +$4.87M
BPY
15
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$4.63M 0.83% 320,190 -282,110 -47% -$4.08M
VRE
16
Veris Residential
VRE
$1.47B
$3.09M 0.56% 247,880 +260 +0.1% +$3.24K
AOK icon
17
iShares Core Conservative Allocation ETF
AOK
$631M
$2.41M 0.43% 62,091 +34,388 +124% +$1.33M
ARE icon
18
Alexandria Real Estate Equities
ARE
$14.1B
$805K 0.15% 4,515 – –
FPI
19
Farmland Partners
FPI
$487M
$785K 0.14% 90,200 – –
AVB icon
20
AvalonBay Communities
AVB
$27.9B
$660K 0.12% 4,110 -25,000 -86% -$4.01M
SLG icon
21
SL Green Realty
SLG
$4.04B
$634K 0.11% 10,640 – –
FRT icon
22
Federal Realty Investment Trust
FRT
$8.67B
$615K 0.11% 7,220 – –
EQIX icon
23
Equinix
EQIX
$76.9B
$602K 0.11% 843 – –
ROIC
24
DELISTED
Retail Opportunity Investments Corp.
ROIC
$563K 0.1% 42,100 – –
AKR icon
25
Acadia Realty Trust
AKR
$2.62B
$474K 0.09% 33,370 – –
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