Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in FWRD held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | CLEARLAKE CAPITAL GROUP, L.P. | 3.8M | $63.9M | 0.0% | 12.095% | 9.39% |
| 2 | BlackRock, Inc. | 3.7M | $61.8M | +8.8% | 11.700% | 0.00% |
| 3 | Irenic Capital Management LP | 1.2M | $20.6M | 0.0% | 3.889% | 2.04% |
| 4 | PRIVATE MANAGEMENT GROUP INC | 1.2M | $19.3M | +24.4% | 3.653% | 0.56% |
| 5 | FMR LLC | 1.1M | $18.2M | +13.0% | 3.436% | 0.00% |
| 6 | STATE STREET CORP | 1.1M | $17.6M | +10.9% | 3.331% | 0.00% |
| 7 | VANGUARD CAPITAL MANAGEMENT LLC | 1.0M | $17.2M | β | 3.247% | 0.00% |
| 8 | Paralel Advisors LLC | 975K | $16.3M | 0.0% | 3.083% | 0.68% |
| 9 | VANGUARD PORTFOLIO MANAGEMENT LLC | 898K | $15.0M | β | 2.840% | 0.00% |
| 10 | Melqart Asset Management (UK) Ltd | 878K | $14.7M | +3.3% | 2.775% | 1.45% |
| 11 | UBS Group AG | 756K | $12.6M | +53.7% | 2.390% | 0.00% |
| 12 | CIBC World Markets Inc. | 734K | $12.3M | -6.4% | 2.322% | 0.02% |
| 13 | LITTLEJOHN & CO LLC | 733K | $12.3M | -69.8% | 2.319% | 11.61% |
| 14 | CITADEL ADVISORS LLC | 684K | $11.4M | +6.6% | 2.163% | 0.01% |
| 15 | GOLDMAN SACHS GROUP INC | 621K | $10.4M | +155.3% | 1.963% | 0.00% |
| 16 | GEODE CAPITAL MANAGEMENT, LLC | 552K | $9.2M | +3.8% | 1.744% | 0.00% |
| 17 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 498K | $8.3M | +3.3% | 1.574% | 0.00% |
| 18 | BNP PARIBAS ARBITRAGE, SA | 480K | $8.0M | +18.6% | 1.518% | 0.00% |
| 19 | MORGAN STANLEY | 418K | $7.0M | +21.3% | 1.320% | 0.00% |
| 20 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 396K | $6.6M | -44.7% | 1.253% | 0.00% |
| 21 | Shay Capital LLC | 366K | $6.1M | +88.6% | 1.159% | 0.53% |
| 22 | ROYCE & ASSOCIATES LP | 348K | $5.8M | +23.6% | 1.100% | 0.06% |
| 23 | DIMENSIONAL FUND ADVISORS LP | 319K | $5.3M | +108.7% | 1.008% | 0.00% |
| 24 | Invesco Ltd. | 313K | $5.2M | +16.3% | 0.989% | 0.00% |
| 25 | BANK OF AMERICA CORP /DE/ | 311K | $5.2M | -19.1% | 0.984% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in FWRD β a direct measure of their conviction.
Filings activity in FWRD during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new FWRD position in Q1 2026
Institutions that fully closed their FWRD position in Q1 2026
4 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 184 | 5.2% | 116.29% | 60.86 pp | $490M | 34% |
| Q4 2025 | 194 | +0.5% | 177.15% | 22.84 pp | $747M | 12% |
| Q3 2025 | 193 | +11% | 199.99% | +19.83 pp | $848M | +12% |
| Q2 2025 | 174 | β | 180.16% | β | $759M | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying FWRD stock.
Based on Q1 2026 13F filings, institutional ownership of Forward Air Corporation stands at 116.3%, held across 184 reporting institutions.
CLEARLAKE CAPITAL GROUP, L.P. is the largest reported institutional holder of FWRD, with approximately 3,825,000 shares worth $0.06B as of Q1 2026.
Yes β 2 widely-followed marquee investors appear among the top 25 institutional holders of FWRD, including CITADEL ADVISORS LLC, SUSQUEHANNA INTERNATIONAL GROUP, LLP.
Our composite Smart Money Score for FWRD is 39 out of 100 (Bearish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
31 institutions opened new positions in FWRD during Q1 2026, while 41 fully exited. 26 added to existing positions and 126 trimmed.
FWRD institutional ownership fell by 60.86 percentage points quarter-over-quarter, with a net change of -10 holders.
The top 10 institutions account for 53.9% of all reported 13F value in FWRD, and the top 25 account for 79.6%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Forward Air Corporation (FWRD) Institutional Ownership