Forward Air
FWRD
202 hedge funds and large institutions have $744M invested in Forward Air in 2025 Q4 according to their latest regulatory filings, with 33 funds opening new positions, 73 increasing their positions, 65 reducing their positions, and 28 closing their positions.
612% more call options, than puts
Call options by funds: $69.6M | Put options by funds: $9.78M
18% more first-time investments, than exits
New positions opened: 33 | Existing positions closed: 28
12% more repeat investments, than reductions
Existing positions increased: 73 | Existing positions reduced: 65
0% more funds holding
Funds holding: 202 → 202 (0)
15% less capital invested
Capital invested by funds: $874M → $744M (-$130M)
15.4% less ownership
Funds ownership: 110.59% → 95.19% (-15%)
43% less funds holding in top 10
Funds holding in top 10: 7 → 4 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MAM
Melqart Asset Management
London,
United Kingdom
|
+$10.5M |
| 2 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
+$5.62M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$5.31M |
| 4 |
Fidelity Investments
Boston,
Massachusetts
|
+$5.2M |
| 5 |
BNP Paribas Financial Markets
Paris,
France
|
+$4.68M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AA
Ancora Advisors
Cleveland,
Ohio
|
-$37.8M |
| 2 |
JGC
J. Goldman & Co
New York
|
-$24.5M |
| 3 |
JP Morgan Chase
New York
|
-$10.2M |
| 4 |
Millennium Management
New York
|
-$8.06M |
| 5 |
JFG
Jefferies Financial Group
New York
|
-$8.01M |
FWRD Hedge Fund Activity: Q4 2025 in Review
202 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Forward Air (FWRD) for Q4 2025, worth a combined $744M — down 15% from $874M a quarter earlier.
Buyers outnumbered sellers: 33 funds opened new FWRD positions and 28 closed out — a net gain of 5 holders — while 73 added to existing stakes and 65 trimmed.
The largest buyer was Melqart Asset Management, adding an estimated $10.5M. The largest seller was Ancora Advisors, exiting entirely with an estimated $37.8M sold.
- 202 institutional investors held Forward Air (FWRD) as of Q4 2025, unchanged from Q3 2025.
- Funds reported $744M of Forward Air stock for Q4 2025, down 15% quarter-over-quarter.
- 33 funds opened new Forward Air positions in Q4 2025 and 28 closed out, a net change of +5 holders.
- The largest Forward Air buyer in Q4 2025 was Melqart Asset Management, an estimated $10.5M added.
- The largest Forward Air seller in Q4 2025 was Ancora Advisors, an estimated $37.8M sold.
Based on aggregated 13F filings for Q4 2025.