5 quarters of 13F filings · Δ columns show change vs prior quarter
Quarter
Inst. Holders
Δ Holders
Ownership %
Δ Ownership
Total 13F Value
Δ Value
Q2 2026
188
1.1%
101.95%
3.17 pp
$425M
17%
Q1 2026
190
4.0%
105.12%
3.99 pp
$509M
36%
Q4 2025
198
1.5%
109.11%
9.03 pp
$793M
9.7%
Q3 2025
201
+16%
118.14%
+9.20 pp
$878M
+16%
Q2 2025
174
—
108.94%
—
$759M
—
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
FWRD — Frequently Asked Questions
Quick answers to the most common questions about buying FWRD stock.
What percentage of FWRD is owned by institutions?
Based on Q2 2026 13F filings, institutional ownership of Forward Air Corporation stands at 102.0%, held across 188 reporting institutions.
Who is the largest institutional holder of FWRD?
CLEARLAKE CAPITAL GROUP, L.P. is the largest reported institutional holder of FWRD, with approximately 3,825,000 shares worth $0.05B as of Q2 2026.
Is FWRD a hedge fund favorite?
Yes — 4 widely-followed marquee investors appear among the top 25 institutional holders of FWRD, including JANE STREET GROUP, LLC, SUSQUEHANNA INTERNATIONAL GROUP, LLP, CITADEL ADVISORS LLC, MILLENNIUM MANAGEMENT LLC.
What is FWRD's Smart Money Score?
Our composite Smart Money Score for FWRD is 46 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in FWRD — a direct measure of their conviction.
42 institutions opened new positions in FWRD during Q2 2026, while 47 fully exited. 47 added to existing positions and 92 trimmed.
How is institutional ownership of FWRD changing?
FWRD institutional ownership fell by 3.17 percentage points quarter-over-quarter, with a net change of -2 holders.
How concentrated is FWRD ownership among the top holders?
The top 10 institutions account for 50.9% of all reported 13F value in FWRD, and the top 25 account for 73.7%.
Where does this FWRD institutional ownership data come from?
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