Forward Management, LLC historic quarter change: Foreign Stocks, Reduced
In share positions in stocks (depositary receipts and foreign shares traded over the counter), over 13 quarters from 2013-06-30 to 2016-09-30, Forward Management, LLC opened 12 positions, added to 60, reduced 56 and sold out of 12.
- Q3 2016: Stock TSM; Country of operation —; Class SPONSORED ADR; Shares before 333,097.
- Q3 2016: Stock NVS; Country of operation —; Class SPONSORED ADR; Shares before 63,422.
- Q3 2016: Stock ULXXXX; Country of operation —; Class SPON ADR NEW; Shares before 67,515.
- Q3 2016: Stock LYG; Country of operation —; Class SPONSORED ADR; Shares before 570,414.
Each consecutive pair of Form 13F-HR filings compared (SEC CIK 1385864), 13 quarters: Q3 2016 (2016-06-30 to 2016-09-30, filed 2016-11-04); Q2 2016 (2016-03-31 to 2016-06-30, filed 2016-08-03); Q1 2016 (2015-12-31 to 2016-03-31, filed 2016-05-13); Q4 2015 (2015-09-30 to 2015-12-31, filed 2016-02-11); Q3 2015 (2015-06-30 to 2015-09-30, filed 2015-11-09); Q2 2015 (2015-03-31 to 2015-06-30, filed 2015-08-11); Q1 2015 (2014-12-31 to 2015-03-31, filed 2015-05-14); Q4 2014 (2014-09-30 to 2014-12-31, filed 2015-02-10); Q3 2014 (2014-06-30 to 2014-09-30, filed 2014-11-12); Q2 2014 (2014-03-31 to 2014-06-30, filed 2014-08-12); Q1 2014 (2013-12-31 to 2014-03-31, filed 2014-05-08); Q4 2013 (2013-09-30 to 2013-12-31, filed 2014-03-04); Q3 2013 (2013-06-30 to 2013-09-30, filed 2013-11-06). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move. Only the filings held here are compared; the firm's 13F-HR filings go back to the quarter ended 2006-12-31.
| Quarter | Stock | Country of operation | Class | Shares before | Shares after | Share change | Value before | Value after | Value change | Filed |
|---|
| Q3 2016 | TSM
TAIWAN SEMICONDUCTOR MFG LTD | | SPONSORED ADR | 333,097 | 259,543 | -73,554 | $8,737,000 | $7,940,000 | -$797,000 | 2016-11-04 |
|---|
| Q3 2016 | NVS
NOVARTIS A G | | SPONSORED ADR | 63,422 | 62,623 | -799 | $5,233,000 | $4,946,000 | -$287,000 | 2016-11-04 |
|---|
| Q3 2016 | ULXXXX
UNILEVER PLC | | SPON ADR NEW | 67,515 | 65,510 | -2,005 | $3,234,000 | $3,106,000 | -$128,000 | 2016-11-04 |
|---|
| Q3 2016 | LYG
LLOYDS BANKING GROUP PLC | | SPONSORED ADR | 570,414 | 555,031 | -15,383 | $1,695,000 | $1,593,000 | -$102,000 | 2016-11-04 |
|---|
| Q3 2016 | PUK
PRUDENTIAL PLC | | ADR | 50,676 | 50,586 | -90 | $1,723,000 | $1,807,000 | +$84,000 | 2016-11-04 |
|---|
| Q3 2016 | FMX
FOMENTO ECONOMICO MEXICANO S | | SPON ADR UNITS | 37,075 | 36,360 | -715 | $3,429,000 | $3,346,000 | -$83,000 | 2016-11-04 |
|---|
| Q3 2016 | ABEV
AMBEV SA | | SPONSORED ADR | 763,294 | 748,909 | -14,385 | $4,511,000 | $4,561,000 | +$50,000 | 2016-11-04 |
|---|
| Q3 2016 | HSBC
HSBC HLDGS PLC | | SPON ADR NEW | 480 | 255 | -225 | $15,000 | $10,000 | -$5,000 | 2016-11-04 |
|---|
| Q2 2016 | HSBC
HSBC HLDGS PLC | | SPON ADR NEW | 76,703 | 480 | -76,223 | $2,387,000 | $15,000 | -$2,372,000 | 2016-08-03 |
|---|
| Q2 2016 | LYG
LLOYDS BANKING GROUP PLC | | SPONSORED ADR | 606,462 | 570,414 | -36,048 | $2,396,000 | $1,695,000 | -$701,000 | 2016-08-03 |
|---|
| Q2 2016 | WPP
WPP PLC NEW | | ADR | 44,720 | 43,880 | -840 | $5,207,000 | $4,587,000 | -$620,000 | 2016-08-03 |
|---|
| Q2 2016 | ABEV
AMBEV SA | | SPONSORED ADR | 788,979 | 763,294 | -25,685 | $4,087,000 | $4,511,000 | +$424,000 | 2016-08-03 |
|---|
| Q2 2016 | PUK
PRUDENTIAL PLC | | ADR | 54,122 | 50,676 | -3,446 | $2,013,000 | $1,723,000 | -$290,000 | 2016-08-03 |
|---|
| Q2 2016 | MUFG
MITSUBISHI UFJ FINL GROUP IN | | SPONSORED ADR | 6,740 | 650 | -6,090 | $31,000 | $3,000 | -$28,000 | 2016-08-03 |
|---|
| Q2 2016 | ULXXXX
UNILEVER PLC | | SPON ADR NEW | 71,494 | 67,515 | -3,979 | $3,230,000 | $3,234,000 | +$4,000 | 2016-08-03 |
|---|
| Q1 2016 | MUFG
MITSUBISHI UFJ FINL GROUP IN | | SPONSORED ADR | 707,184 | 6,740 | -700,444 | $4,399,000 | $31,000 | -$4,368,000 | 2016-05-13 |
|---|
| Q1 2016 | HSBC
HSBC HLDGS PLC | | SPON ADR NEW | 162,096 | 76,703 | -85,393 | $6,398,000 | $2,387,000 | -$4,011,000 | 2016-05-13 |
|---|
| Q1 2016 | NVS
NOVARTIS A G | | SPONSORED ADR | 75,070 | 55,558 | -19,512 | $6,459,000 | $4,025,000 | -$2,434,000 | 2016-05-13 |
|---|
| Q1 2016 | WPP
WPP PLC NEW | | ADR | 63,112 | 44,720 | -18,392 | $7,241,000 | $5,207,000 | -$2,034,000 | 2016-05-13 |
|---|
| Q1 2016 | FMX
FOMENTO ECONOMICO MEXICANO S | | SPON ADR UNITS | 54,919 | 32,606 | -22,313 | $5,072,000 | $3,140,000 | -$1,932,000 | 2016-05-13 |
|---|
| Q1 2016 | LYG
LLOYDS BANKING GROUP PLC | | SPONSORED ADR | 966,059 | 606,462 | -359,597 | $4,212,000 | $2,396,000 | -$1,816,000 | 2016-05-13 |
|---|
| Q1 2016 | ULXXXX
UNILEVER PLC | | SPON ADR NEW | 113,870 | 71,494 | -42,376 | $4,911,000 | $3,230,000 | -$1,681,000 | 2016-05-13 |
|---|
| Q1 2016 | TSM
TAIWAN SEMICONDUCTOR MFG LTD | | SPONSORED ADR | 275,516 | 191,652 | -83,864 | $6,268,000 | $5,021,000 | -$1,247,000 | 2016-05-13 |
|---|
| Q1 2016 | ABEV
AMBEV SA | | SPONSORED ADR | 1,137,553 | 788,979 | -348,574 | $5,074,000 | $4,087,000 | -$987,000 | 2016-05-13 |
|---|
| Q4 2015 | NVS
NOVARTIS A G | | SPONSORED ADR | 80,578 | 75,070 | -5,508 | $7,407,000 | $6,459,000 | -$948,000 | 2016-02-11 |
|---|
| Q4 2015 | TSM
TAIWAN SEMICONDUCTOR MFG LTD | | SPONSORED ADR | 292,932 | 275,516 | -17,416 | $6,078,000 | $6,268,000 | +$190,000 | 2016-02-11 |
|---|
| Q3 2015 | WPP
WPP PLC NEW | | ADR | 93,803 | 52,365 | -41,438 | $10,573,000 | $5,448,000 | -$5,125,000 | 2015-11-09 |
|---|
| Q3 2015 | NVS
NOVARTIS A G | | SPONSORED ADR | 105,471 | 80,578 | -24,893 | $10,372,000 | $7,407,000 | -$2,965,000 | 2015-11-09 |
|---|
| Q3 2015 | HSBC
HSBC HLDGS PLC | | SPON ADR NEW | 178,482 | 151,163 | -27,319 | $7,998,000 | $5,726,000 | -$2,272,000 | 2015-11-09 |
|---|
| Q3 2015 | ABEV
AMBEV SA | | SPONSORED ADR | 1,244,332 | 1,098,445 | -145,887 | $7,591,000 | $5,383,000 | -$2,208,000 | 2015-11-09 |
|---|
| Q3 2015 | TSM
TAIWAN SEMICONDUCTOR MFG LTD | | SPONSORED ADR | 308,405 | 292,932 | -15,473 | $7,004,000 | $6,078,000 | -$926,000 | 2015-11-09 |
|---|
| Q3 2015 | ULXXXX
UNILEVER PLC | | SPON ADR NEW | 90,874 | 84,243 | -6,631 | $3,903,000 | $3,436,000 | -$467,000 | 2015-11-09 |
|---|
| Q3 2015 | FMX
FOMENTO ECONOMICO MEXICANO S | | SPON ADR UNITS | 54,003 | 51,185 | -2,818 | $4,810,000 | $4,569,000 | -$241,000 | 2015-11-09 |
|---|
| Q2 2015 | WPP
WPP PLC NEW | | ADR | 109,935 | 93,803 | -16,132 | $12,506,000 | $10,573,000 | -$1,933,000 | 2015-08-11 |
|---|
| Q2 2015 | TEVA
TEVA PHARMACEUTICAL INDS LTD | | ADR | 99,555 | 81,830 | -17,725 | $5,207,000 | $4,328,000 | -$879,000 | 2015-08-11 |
|---|
| Q2 2015 | FMX
FOMENTO ECONOMICO MEXICANO S | | SPON ADR UNITS | 54,161 | 54,003 | -158 | $5,063,000 | $4,810,000 | -$253,000 | 2015-08-11 |
|---|
| Q1 2015 | HSBC
HSBC HLDGS PLC | | SPON ADR NEW | 162,013 | 91,829 | -70,184 | $7,652,000 | $3,912,000 | -$3,740,000 | 2015-05-14 |
|---|
| Q1 2015 | NVS
NOVARTIS A G | | SPONSORED ADR | 102,009 | 101,195 | -814 | $9,452,000 | $9,980,000 | +$528,000 | 2015-05-14 |
|---|
| Q1 2015 | ULXXXX
UNILEVER PLC | | SPON ADR NEW | 96,852 | 88,975 | -7,877 | $3,922,000 | $3,710,000 | -$212,000 | 2015-05-14 |
|---|
| Q4 2014 | SAN
BANCO SANTANDER SA | | ADR | 1,192,530 | 999,152 | -193,378 | $11,329,000 | $8,325,000 | -$3,004,000 | 2015-02-10 |
|---|
| Q4 2014 | ABEV
AMBEV SA | | SPONSORED ADR | 1,468,509 | 1,161,333 | -307,176 | $9,619,000 | $7,222,000 | -$2,397,000 | 2015-02-10 |
|---|
| Q4 2014 | TEVA
TEVA PHARMACEUTICAL INDS LTD | | ADR | 110,585 | 94,120 | -16,465 | $5,676,000 | $4,787,000 | -$889,000 | 2015-02-10 |
|---|
| Q4 2014 | FMX
FOMENTO ECONOMICO MEXICANO S | | SPON ADR UNITS | 48,868 | 47,528 | -1,340 | $4,496,000 | $4,184,000 | -$312,000 | 2015-02-10 |
|---|
| Q3 2014 | FMX
FOMENTO ECONOMICO MEXICANO S | | SPON ADR UNITS | 55,373 | 48,868 | -6,505 | $5,187,000 | $4,496,000 | -$691,000 | 2014-11-12 |
|---|
| Q2 2014 | WPP
WPP PLC NEW | | ADR | 107,799 | 106,995 | -804 | $11,110,000 | $11,648,000 | +$538,000 | 2014-08-12 |
|---|
| Q2 2014 | ULXXXX
UNILEVER PLC | | SPON ADR NEW | 94,998 | 94,498 | -500 | $4,055,000 | $4,297,000 | +$242,000 | 2014-08-12 |
|---|
| Q2 2014 | TSM
TAIWAN SEMICONDUCTOR MFG LTD | | SPONSORED ADR | 153,127 | 133,376 | -19,751 | $3,065,000 | $2,897,000 | -$168,000 | 2014-08-12 |
|---|
| Q1 2014 | BCS
BARCLAYS PLC | | ADR | 350,405 | 222,546 | -127,859 | $6,353,000 | $3,494,000 | -$2,859,000 | 2014-05-08 |
|---|
| Q1 2014 | HSBC
HSBC HLDGS PLC | | SPON ADR NEW | 172,317 | 134,541 | -37,776 | $9,499,000 | $6,839,000 | -$2,660,000 | 2014-05-08 |
|---|
| Q1 2014 | FMX
FOMENTO ECONOMICO MEXICANO S | | SPON ADR UNITS | 60,962 | 41,399 | -19,563 | $5,965,000 | $3,860,000 | -$2,105,000 | 2014-05-08 |
|---|
| Q1 2014 | ABEV
AMBEV SA | | SPONSORED ADR | 157,000 | 88,100 | -68,900 | $1,154,000 | $653,000 | -$501,000 | 2014-05-08 |
|---|
| Q1 2014 | ULXXXX
UNILEVER PLC | | SPON ADR NEW | 101,232 | 94,998 | -6,234 | $4,171,000 | $4,055,000 | -$116,000 | 2014-05-08 |
|---|
| Q4 2013 | SNY
SANOFI | | SPONSORED ADR | 85,032 | 305 | -84,727 | $4,305,000 | $16,000 | -$4,289,000 | 2014-03-04 |
|---|
| Q4 2013 | ULXXXX
UNILEVER PLC | | SPON ADR NEW | 164,748 | 101,232 | -63,516 | $6,358,000 | $4,171,000 | -$2,187,000 | 2014-03-04 |
|---|
| Q3 2013 | TS
TENARIS S A | | SPONSORED ADR | 31,800 | 11,100 | -20,700 | $1,281,000 | $519,000 | -$762,000 | 2013-11-06 |
|---|
| Q3 2013 | SNY
SANOFI | | SPONSORED ADR | 95,722 | 85,032 | -10,690 | $4,931,000 | $4,305,000 | -$626,000 | 2013-11-06 |
|---|
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