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Institutional Investment Manager
Forward Management, LLC
Forward Management, LLC (CIK: 0001385864) incorporated in Delaware, located at 244 California Street, San Francisco, CA. Institutional holdings reported to the SEC.

Institutional Holdings (2017Q1)
Portfolio Summary: 183 holdings with a total value of $1,185,858,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 AMERICAN ASSETS TR INC COM 164,200 6,870,000 0.58%
152 EPR PPTYS 248,700 7,133,000 0.60%
153 WHEELER REAL ESTATE INVT TR 390,000 9,399,000 0.79%
154 CLIPPER RLTY INC 740,500 9,492,000 0.80%
155 CORENERGY INFRASTRUCTURE TR IN DEP SHS REPSTG 400,000 10,100,000 0.85%
156 URSTADT BIDDLE PPTYS INC 450,000 11,588,000 0.98%
157 NATIONAL STORAGE AFFILIATES 501,036 11,975,000 1.01%
158 Jernigan Capital Inc 525,000 12,096,000 1.02%
159 RAMCO-GERSHENSON PPTYS TR 245,700 13,317,000 1.12%
160 RESOURCE CAPITAL CORP N/C 5/29/18 30068N105 1,396,006 13,639,000 1.15%
161 New York REIT Inc 1,427,300 13,830,000 1.17%
162 LEXINGTON REALTY TRUST 316,455 15,902,000 1.34%
163 UMH PPTYS INC 630,000 16,292,000 1.37%
164 MONMOUTH REAL ESTATE INVT CO 1,152,000 16,439,000 1.39%
165 TAUBMAN CTRS INC 254,650 16,812,000 1.42%
166 DDR CORP 1,547,100 19,386,000 1.63%
167 CONSOLIDATED TOMOKA LD CO 20,675,000 20,985,000 1.77%
168 AMERICAN HOMES 4 RENT CL A 925,141 21,241,000 1.79%
169 CORE LABORATORIES NV 19,000,000 21,256,000 1.79%
170 FRANKLIN STREET PPTY CP 1,870,400 22,706,000 1.91%
171 EPR PPTYS 644,101 23,052,000 1.94%
172 MEDEQUITIES RLTY TR INC COM 2,157,400 24,185,000 2.04%
173 WASHINGTON PRIME GROUP NEW 2,861,487 24,867,000 2.10%
174 FELCOR LODGING TR INC PFD CV A $1.95 1,025,000 24,990,000 2.11%
175 KITE RLTY GROUP TR 1,172,348 25,205,000 2.13%
176 SABRA HEALTH CARE REIT INC 1,156,825 32,310,000 2.72%
177 STAG INDL INC 1,406,306 35,186,000 2.97%
178 COLONY NORTHSTAR A 2,944,398 38,012,000 3.21%
179 CHATHAM LODGING TR COM 2,040,738 40,305,000 3.40%
180 POWERSHARES QQQ TRUST 363,388 48,105,000 4.06%
181 ASHFORD HOSPITALITY PRIME IN 2,800,000 55,076,000 4.64%
182 SPDR SERIES TRUST 2,331,948 106,593,000 8.99%
183 SPDR S&P 500 ETF TR 850,379 200,468,000 16.90%
Page 4 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001085146-17-001097, filed 2017.05.04).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.