Forward Air
FWRD
180 hedge funds and large institutions have $805M invested in Forward Air in 2025 Q2 according to their latest regulatory filings, with 38 funds opening new positions, 57 increasing their positions, 54 reducing their positions, and 51 closing their positions.
20% more capital invested
Capital invested by funds: $672M → $805M (+$133M)
17% more funds holding in top 10
Funds holding in top 10: 6 → 7 (+1)
6% more repeat investments, than reductions
Existing positions increased: 57 | Existing positions reduced: 54
2.15% less ownership
Funds ownership: 109.85% → 107.7% (-2.2%)
7% less funds holding
Funds holding: 194 → 180 (-14)
23% less call options, than puts
Call options by funds: $8.9M | Put options by funds: $11.5M
25% less first-time investments, than exits
New positions opened: 38 | Existing positions closed: 51
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CIBC World Market
Toronto,
Ontario, Canada
|
+$15M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$11.1M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$7.56M |
| 4 |
Balyasny Asset Management
Chicago,
Illinois
|
+$5.33M |
| 5 |
JP Morgan Chase
New York
|
+$4.48M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCM
Penn Capital Management
Philadelphia,
Pennsylvania
|
-$8.17M |
| 2 |
BHCM
Brevan Howard Capital Management
St. Helier,
Jersey
|
-$7.65M |
| 3 |
Verition Fund Management
Greenwich,
Connecticut
|
-$6.99M |
| 4 |
MCM
Moore Capital Management
New York
|
-$6.26M |
| 5 |
Morgan Stanley
New York
|
-$6.22M |
FWRD Hedge Fund Activity: Q2 2025 in Review
180 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Forward Air (FWRD) for Q2 2025, worth a combined $805M — up 20% from $672M a quarter earlier.
Sellers outnumbered buyers: 51 funds closed out of FWRD and 38 opened new positions — a net loss of 13 holders — while 54 trimmed existing stakes and 57 added.
The largest buyer was CIBC World Market, opening a new position worth an estimated $15M. The largest seller was Penn Capital Management, cutting an estimated $8.17M.
- 180 institutional investors held Forward Air (FWRD) as of Q2 2025, down from 194 in Q1 2025.
- Funds reported $805M of Forward Air stock for Q2 2025, up 20% quarter-over-quarter.
- 38 funds opened new Forward Air positions in Q2 2025 and 51 closed out, a net change of -13 holders.
- The largest Forward Air buyer in Q2 2025 was CIBC World Market, an estimated $15M added.
- The largest Forward Air seller in Q2 2025 was Penn Capital Management, an estimated $8.17M sold.
Based on aggregated 13F filings for Q2 2025.