Ranked by reported Q2 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 | $51.7M | 0.0% | 12.095% | 9.78% |
| 2 | BlackRock, Inc. | 2.8M | $37.5M | -25.0% | 8.773% | 0.00% |
| 3 | FMR LLC | 2.0M | $27.1M | +84.8% | 6.350% | 0.00% |
| 4 | Bracebridge Capital, LLC | 1.4M | $19.0M | — | 4.442% | 0.34% |
| 5 | VANGUARD CAPITAL MANAGEMENT LLC | 1.2M | $15.8M | +13.9% | 3.697% | 0.00% |
| 6 | PRIVATE MANAGEMENT GROUP INC | 1.1M | $15.5M | -0.8% | 3.623% | 0.41% |
| 7 | D. E. Shaw & Co., Inc. | 1.1M | $14.9M | +1008.2% | 3.476% | 0.01% |
| 8 | CIBC WORLD MARKET INC. | 1.1M | $14.5M | +46.0% | 3.390% | 0.02% |
| 9 | JANE STREET GROUP, LLC | 819K | $11.1M | -6.8% | 2.590% | 0.00% |
| 10 | BARCLAYS PLC | 707K | $9.5M | +4453.6% | 2.234% | 0.00% |
| 11 | GOLDMAN SACHS GROUP INC | 616K | $8.3M | -0.8% | 1.948% | 0.00% |
| 12 | DEUTSCHE BANK AG\ | 614K | $8.3M | +136.7% | 1.941% | 0.00% |
| 13 | BNP PARIBAS FINANCIAL MARKETS | 597K | $8.1M | +24.3% | 1.887% | 0.00% |
| 14 | GEODE CAPITAL MANAGEMENT, LLC | 581K | $7.9M | +5.4% | 1.838% | 0.00% |
| 15 | STATE STREET CORP | 580K | $7.8M | -45.0% | 1.833% | 0.00% |
| 16 | Qube Research & Technologies Ltd | 565K | $7.6M | — | 1.787% | 0.01% |
| 17 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 468K | $6.3M | +18.2% | 1.481% | 0.00% |
| 18 | MORGAN STANLEY | 464K | $6.3M | +11.3% | 1.469% | 0.00% |
| 19 | CITADEL ADVISORS LLC | 442K | $6.0M | -35.4% | 1.397% | 0.00% |
| 20 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 425K | $5.7M | -14.5% | 1.345% | 0.00% |
| 21 | MILLENNIUM MANAGEMENT LLC | 422K | $5.7M | +309.5% | 1.335% | 0.00% |
| 22 | TIMUCUAN ASSET MANAGEMENT INC/FL | 399K | $5.4M | — | 1.260% | 0.20% |
| 23 | Diameter Capital Partners LP | 350K | $4.7M | — | 1.107% | 0.19% |
| 24 | TUDOR INVESTMENT CORP ET AL | 343K | $4.6M | +627.5% | 1.085% | 0.01% |
| 25 | Jump Financial, LLC | 312K | $4.2M | +58.6% | 0.987% | 0.03% |
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.
Filings activity in FWRD during Q2 2026, grouped by how each filer changed its position.
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.
Quick answers to the most common questions about buying FWRD stock.
Based on Q2 2026 13F filings, institutional ownership of Forward Air Corporation stands at 102.0%, held across 188 reporting institutions.
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.
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.
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.
42 institutions opened new positions in FWRD during Q2 2026, while 47 fully exited. 47 added to existing positions and 92 trimmed.
FWRD institutional ownership fell by 3.17 percentage points quarter-over-quarter, with a net change of -2 holders.
The top 10 institutions account for 50.9% of all reported 13F value in FWRD, and the top 25 account for 73.7%.
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