Forward Management, LLC Buys SPDR Bloomberg Barclays 1-3 Month T-Bill, Invesco QQQ Trust Series 1, SPDR S&P 500, Sells ProShares UltraShort S&P500, Stag Industrial Inc, Jernigan Capital Inc

• New Purchases: BIL, QQQ, BDN, STAY, AVB,
• Added Positions: SPY, BPY, CLPR, NSA,
• Reduced Positions: STAG, JCAP, WHLRP.PFD, BHRPB.PFD, AAT, EQIX, LXPPC.PFD,
• Sold Out: SDS, LMRKN.PFD, WHLRD.PFD, AMH,

For the details of Forward Management, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/forward+management%2C+llc/current-portfolio/portfolio

1. SPDR Bloomberg Barclays 1-3 Month T-Bill (BIL) - 2,339,448 shares, 32.51% of the total portfolio. New Position
2. SPDR S&P 500 (SPY) - 482,352 shares, 20.67% of the total portfolio. Shares added by 61.10%
3. Invesco QQQ Trust Series 1 (QQQ) - 508,987 shares, 13.87% of the total portfolio. New Position
4. Lexington Realty Trust (LXPpC.PFD) - 310,060 shares, 2.53% of the total portfolio. Shares reduced by 2.04%
5. Braemar Hotels & Resorts Inc (BHRpB.PFD) - 816,982 shares, 2.47% of the total portfolio. Shares reduced by 6.52%

Forward Management, LLC initiated holding in SPDR Bloomberg Barclays 1-3 Month T-Bill. The purchase prices were between $91.44 and $91.62, with an estimated average price of $91.53. The stock is now traded at around $91.43. The impact to a portfolio due to this purchase was 32.51%. The holding were 2,339,448 shares as of .

Forward Management, LLC initiated holding in Invesco QQQ Trust Series 1. The purchase prices were between $149.82 and $182.57, with an estimated average price of $169.41. The stock is now traded at around $188.93. The impact to a portfolio due to this purchase was 13.87%. The holding were 508,987 shares as of .

Forward Management, LLC initiated holding in Brandywine Realty Trust. The purchase prices were between $12.51 and $16.14, with an estimated average price of $15.07. The stock is now traded at around $15.31. The impact to a portfolio due to this purchase was 1.32%. The holding were 549,220 shares as of .

Forward Management, LLC initiated holding in Extended Stay America Inc. The purchase prices were between $15.18 and $19.44, with an estimated average price of $17.35. The stock is now traded at around $18.05. The impact to a portfolio due to this purchase was 1.06%. The holding were 389,620 shares as of .

Forward Management, LLC initiated holding in AvalonBay Communities Inc. The purchase prices were between $169.2 and $200.92, with an estimated average price of $190.8. The stock is now traded at around $201.11. The impact to a portfolio due to this purchase was 0.13%. The holding were 4,110 shares as of .

Forward Management, LLC added to a holding in SPDR S&P 500 by 61.10%. The purchase prices were between $244.21 and $284.73, with an estimated average price of $271.34. The stock is now traded at around $291.82. The impact to a portfolio due to this purchase was 7.84%. The holding were 482,352 shares as of .

Forward Management, LLC sold out a holding in ProShares UltraShort S&P500. The sale prices were between $32.79 and $44.99, with an estimated average price of $36.49.

Forward Management, LLC sold out a holding in Landmark Infrastructure Partners LP. The sale prices were between $20.52 and $24.91, with an estimated average price of $23.58.

Forward Management, LLC sold out a holding in Wheeler Real Estate Investment Trust Inc. The sale prices were between $9.63 and $14.02, with an estimated average price of $12.52.

Forward Management, LLC sold out a holding in American Homes 4 Rent. The sale prices were between $19.47 and $23, with an estimated average price of $21.88.