Forward Management, led by J. Alan Reid, Jr., is a fund with a global outlook and employs multi-strategy in its investments. In the latest 13F filing, the fund disclosed its top three best stocks. Such stocks are Stag Industrial Inc (NYSE:STAG), Chatham Lodging Trust (NYSE:CLDT) and Franklin Street Properties Corp. (NYSEMKT:FSP).
Forward Management also revealed that its total equity portfolio value declined to more than $1.67 billion in the third quarter of 2014. It had total portfolio value of about $1.73 billion in the previous filing. The fund has less than $6 billion worth of assets under management.
Stag Industrial Inc (NYSE:STAG) tops the list of Forward Management’s best three stocks in the latest filing. The fund owns about 2.3 million shares in the $1.6 billion industrial real estate company. The position in the stock declined slightly from the last report. The new position is worth about $47 million.
Stag Industrial Inc (NYSE:STAG) is also owned by Capital Growth Management, led by Ken Heebner. The fund initiated a position in the stock in the second quarter of 2014, owning 170,000 shares at the end of that quarter.
Coming in the second-largest equity position is Chatham Lodging Trust (NYSE:CLDT). Forward Management boosted its position in the hotel management company during the third quarter of 2014. As such, it closed the quarter with 1.7 million shares worth more than $39 million in the stock. The fund owned 1.4 million shares in Chatham Lodging Trust (NYSE:CLDT) at the end of the second quarter of 2014.
Chatham Lodging Trust (NYSE:CLDT) is also a significant stake in the equity portfolio of Birch Run Capital, run by Daniel Beltzman and Gergory Smith. That fund owned 456,902 shares in the company at the end of the second quarter of 2014.
Franklin Street Properties Corp. (NYSEMKT:FSP) is Forward Management’s third-largest equity stake. The fund accumulated more shares in the $1.2 billion REIT in the third quarter of 2014. As such, it ended the latest quarter with more than 3 million shares in Franklin Street Properties Corp. (NYSEMKT:FSP). That was higher than slightly over 2 million shares in the second quarter of 2014. The new position has an estimated value of about $34 million.
Franklin Street Properties Corp. (NYSEMKT:FSP) has not seen insider selling since 2009, but a number of insiders have bought the stock this year. The company’s CFO, G John Demeritt, acquired 1,000 shares in the company this week.
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