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Mill Road Capital Management’s Forward Air FWRD Stock Holding History

Mill Road Capital Management’s Portfolio FWRD Stock Details FWRD Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2026
Q1 		$3.79M Buy
226,750
+59,100
+35% +$1.44M 1.99% 13
2025
Q4 		$4.19M Buy
167,650
+40,000
+31% +$900K 2.49% 12
2025
Q3 		$3.27M Buy
+127,650
New +$3.67M 1.7% 14
2025
Q2 		– Sell
-127,650
Closed -$2.56M – 27
2025
Q1 		$2.56M Hold
127,650
– – 1.45% 17
2024
Q4 		$4.12M Buy
+127,650
New +$4.46M 1.98% 15

Other funds holding FWRD

CCG
Clearlake Capital Group Santa Monica, California $680M AUM 30.34% 1-Year Est. Return
BlackRock
BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return
ICM
Irenic Capital Management New York $1.54B AUM 12.79% 1-Year Est. Return
PMG
Private Management Group Irvine, California $3.47B AUM 13.39% 1-Year Est. Return
Fidelity Investments
Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return
State Street
State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return
VCM
Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM
PA
Paralel Advisors Denver, Colorado $2.41B AUM 9.57% 1-Year Est. Return
VPM
Vanguard Portfolio Management Malvern, Pennsylvania $1.91T AUM
MAM
Melqart Asset Management London, United Kingdom $1.01B AUM 84.85% 1-Year Est. Return

Mill Road Capital Management's FWRD Position: Q1 2026 in Review

Mill Road Capital Management increased its Forward Air (FWRD) stake by 35% in Q1 2026, buying an estimated $1.44M and bringing the position to 226,750 shares worth $3.79M. The position accounts for 1.99% of the portfolio, ranked #13.

Mill Road Capital Management first reported a position in FWRD in Q4 2024 and has held it in 5 quarters since. The position peaked at $4.19M in Q4 2025. 192 funds tracked by Wall St. Rank hold FWRD as of Q1 2026.

  • Mill Road Capital Management held 226,750 shares of Forward Air worth $3.79M as of Q1 2026.
  • Mill Road Capital Management bought 59,100 Forward Air shares in Q1 2026, an estimated $1.44M.
  • Forward Air made up 1.99% of Mill Road Capital Management's portfolio in Q1 2026, its #13 holding.
  • Mill Road Capital Management first reported a position in Forward Air in Q4 2024 and has held it in 5 quarters since.
  • Mill Road Capital Management's Forward Air position peaked at $4.19M in Q4 2025.
  • 192 funds tracked by Wall St. Rank held Forward Air as of Q1 2026.

Based on Mill Road Capital Management's 13F filing for Q1 2026, filed 15 May 2026.