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Finward Bancorp
FNWD

71 hedge funds and large institutions have $73.6M invested in Finward Bancorp in 2025 Q4 according to their latest regulatory filings, with 13 funds opening new positions, 28 increasing their positions, 13 reducing their positions, and 2 closing their positions.

New
Increased
Maintained
Reduced
Closed

550% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 2

115% more repeat investments, than reductions

Existing positions increased: 28 | Existing positions reduced: 13

18% more funds holding

Funds holding: 60 → 71 (+11)

18% more capital invested

Capital invested by funds: $62.2M → $73.6M (+$11.4M)

3.51% more ownership

Funds ownership: 44.81% → 48.32% (+3.5%)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

Holders
71
Holders Change
+11
Holders Change %
+18.33%
% of All Funds
0.86%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
13
Increased
28
Reduced
13
Closed
2
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
+$1.92M
2
UBS Group
UBS Group
Switzerland
+$433K
3
Citadel Advisors
Citadel Advisors
Florida
+$431K
4
TI
Trexquant Investment
Connecticut
+$360K
5
BlackRock
BlackRock
New York
+$334K

Top Sellers

Rank Fund Capital Flow
1
BMCM
Black Maple Capital Management
Wisconsin
-$308K
2
Northern Trust
Northern Trust
Illinois
-$82.1K
3
JP Morgan Chase
JP Morgan Chase
New York
-$35K
4
RhumbLine Advisers
RhumbLine Advisers
Massachusetts
-$26.2K
5
FB
Finward Bancorp
Indiana
-$19.5K
Name Holding Trade Value Shares
Change 		Change in
Stake
AllianceBernstein
1
AllianceBernstein
Tennessee
$14.5M +$318K +9,031 +2%
PCA
2
PL Capital Advisors
Florida
$13.9M – – –
Vanguard Group
3
Vanguard Group
Pennsylvania
$7.04M +$189K +5,380 +3%
BlackRock
4
BlackRock
New York
$5.69M +$334K +9,501 +6%
FB
5
Finward Bancorp
Indiana
$4.8M -$19.5K -554 -0.4%
ECA
6
Endeavour Capital Advisors
Connecticut
$3.5M – – –
Geode Capital Management
7
Geode Capital Management
Massachusetts
$2.88M +$25.1K +713 +0.9%
Goldman Sachs
8
Goldman Sachs
New York
$1.92M +$1.92M +54,562 New
Wellington Management Group
9
Wellington Management Group
Massachusetts
$1.9M +$151K +4,291 +9%
Renaissance Technologies
10
Renaissance Technologies
New York
$1.74M +$12.6K +358 +0.7%
State Street
11
State Street
Massachusetts
$1.66M +$52.2K +1,483 +3%
CT
12
Caldwell Trust
Florida
$1.42M – – –
Acadian Asset Management
13
Acadian Asset Management
Massachusetts
$1.33M +$172K +4,897 +15%
Northern Trust
14
Northern Trust
Illinois
$1.03M -$82.1K -2,331 -7%
RA
15
Raffles Associates
New York
$935K – – –
UBS Group
16
UBS Group
Switzerland
$834K +$433K +12,307 +108%
Dimensional Fund Advisors
17
Dimensional Fund Advisors
Texas
$805K +$49.7K +1,411 +7%
BMCM
18
Black Maple Capital Management
Wisconsin
$748K -$308K -8,758 -29%
PNC Financial Services Group
19
PNC Financial Services Group
Pennsylvania
$705K +$1.2K +34 +0.2%
ONB
20
Old National Bancorp
Indiana
$563K – – –
AQR Capital Management
21
AQR Capital Management
Connecticut
$540K +$156K +4,420 +40%
Morgan Stanley
22
Morgan Stanley
New York
$478K +$27.4K +778 +6%
Citadel Advisors
23
Citadel Advisors
Florida
$431K +$431K +12,251 New
MFIM
24
Mesirow Financial Investment Management
Illinois
$375K – – –
Charles Schwab
25
Charles Schwab
California
$365K – – –
1
2 3

FNWD Hedge Fund Activity: Q4 2025 in Review

71 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Finward Bancorp (FNWD) for Q4 2025, worth a combined $73.6M — up 18% from $62.2M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new FNWD positions and 2 closed out — a net gain of 11 holders — while 28 added to existing stakes and 13 trimmed.

The largest buyer was Goldman Sachs, opening a new position worth an estimated $1.92M. The largest seller was Black Maple Capital Management, cutting an estimated $308K.

  • 71 institutional investors held Finward Bancorp (FNWD) as of Q4 2025, up from 60 in Q3 2025.
  • Funds reported $73.6M of Finward Bancorp stock for Q4 2025, up 18% quarter-over-quarter.
  • 13 funds opened new Finward Bancorp positions in Q4 2025 and 2 closed out, a net change of +11 holders.
  • The largest Finward Bancorp buyer in Q4 2025 was Goldman Sachs, an estimated $1.92M added.
  • The largest Finward Bancorp seller in Q4 2025 was Black Maple Capital Management, an estimated $308K sold.

Based on aggregated 13F filings for Q4 2025.