FWRD Institutional Ownership
Forward Air Corporation
1W: -1.1%
1M: -0.8%
3M: +3.8%
YTD: -39.8%
1Y: -23.0%
3Y: -79.9%
5Y: -82.3%
$15.14
+0.06 (+0.40%)
Weekly Expected Move ±6.6%
$13
$14
$15
$16
$17
Credit Risk of going bust: higher than 94% of companies Debt: 80.5% of company value Bonds: $148.2M held by 79 funds, 555 bp over Treasuries → details ▾
Of US companies ranked in the riskiest tenth, about 1 in 20 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $4.36 (down 71%), Forward Air Corporation would be worth roughly what it owes.
Total debt $2.11B against a stock market value of $511.4M.
Distance to default 1.01 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $846.7M (short-term plus half of long-term), stock volatility 91.6%; Altman Z'' -1.33. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $4.36 (down 71%), Forward Air Corporation would be worth roughly what it owes.
Total debt $2.11B against a stock market value of $511.4M.
Distance to default 1.01 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $846.7M (short-term plus half of long-term), stock volatility 91.6%; Altman Z'' -1.33. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Institutional Ownership — FWRD
240
Institutional Holders
+14 vs prior quarter
0.0%
Ownership
+0.00pp
$417M
Total Invested
51
New Positions
67
Increased
96
Reduced
50
Closed
0.50
Put/Call Ratio
Ownership Trends
Top Institutional Holders (265 total)
| # | Holder | Shares | Value | Change | Change % | Holding Period | Filing |
|---|---|---|---|---|---|---|---|
| 1 | CLEARLAKE CAPITAL GROUP, L.P. | 3,825,000 | $58M | — | +0.0% | 5Q | SEC ↗ |
| 2 | BlackRock, Inc. | 2,774,600 | $42M | -925,487 | -25.0% | 5Q | SEC ↗ |
| 3 | FMR LLC | 2,008,264 | $30M | +921,615 | +84.8% | 5Q | SEC ↗ |
| 4 | Bracebridge Capital, LLC NEW | 1,404,913 | $21M | — | +0.0% | 1Q | SEC ↗ |
| 5 | VANGUARD CAPITAL MANAGEMENT LLC | 1,169,316 | $18M | +142,619 | +13.9% | 2Q | SEC ↗ |
| 6 | PRIVATE MANAGEMENT GROUP INC | 1,145,760 | $17M | -9,645 | -0.8% | 5Q | SEC ↗ |
| 7 | CIBC WORLD MARKET INC. | 1,072,138 | $16M | +337,866 | +46.0% | 5Q | SEC ↗ |
| 8 | D. E. Shaw & Co., Inc. NEW | 1,000,105 | $15M | — | +0.0% | 1Q | SEC ↗ |
| 9 | HRT FINANCIAL LP | 785,954 | $12M | +378,769 | +93.0% | 5Q | SEC ↗ |
| 10 | BARCLAYS PLC | 706,620 | $11M | +691,102 | +4453.6% | 5Q | SEC ↗ |
| 11 | DEUTSCHE BANK AG | 613,841 | $9M | +354,530 | +136.7% | 4Q | SEC ↗ |
| 12 | BNP PARIBAS FINANCIAL MARKETS | 596,864 | $9M | +116,668 | +24.3% | 5Q | SEC ↗ |
| 13 | GEODE CAPITAL MANAGEMENT, LLC | 581,416 | $9M | +29,856 | +5.4% | 5Q | SEC ↗ |
| 14 | STATE STREET CORP | 579,828 | $9M | -473,531 | -45.0% | 5Q | SEC ↗ |
| 15 | Qube Research & Technologies Ltd NEW | 565,049 | $9M | — | +0.0% | 1Q | SEC ↗ |
| 16 | JANE STREET GROUP, LLC | 492,458 | $7M | -348 | -0.1% | 5Q | SEC ↗ |
| 17 | MORGAN STANLEY | 464,489 | $7M | +46,960 | +11.2% | 5Q | SEC ↗ |
| 18 | Sixth Street Partners Management Compa NEW | 425,287 | $6M | — | +0.0% | 1Q | SEC ↗ |
| 19 | CHARLES SCHWAB INVESTMENT MANAGEMENT I | 425,287 | $6M | -72,402 | -14.5% | 5Q | SEC ↗ |
| 20 | MILLENNIUM MANAGEMENT LLC | 422,193 | $6M | +319,099 | +309.5% | 5Q | SEC ↗ |
| 21 | TIMUCUAN ASSET MANAGEMENT INC/FL NEW | 398,551 | $6M | — | +0.0% | 1Q | SEC ↗ |
| 22 | Diameter Capital Partners LP NEW | 350,000 | $5M | — | +0.0% | 1Q | SEC ↗ |
| 23 | TUDOR INVESTMENT CORP ET AL | 343,130 | $5M | +295,964 | +627.5% | 3Q | SEC ↗ |
| 24 | Jump Financial, LLC | 312,046 | $5M | +115,246 | +58.6% | 5Q | SEC ↗ |
| 25 | DIMENSIONAL FUND ADVISORS LP | 300,403 | $5M | -18,455 | -5.8% | 5Q | SEC ↗ |
| 26 | Mill Road Capital Management LLC | 292,250 | $4M | +65,500 | +28.9% | 4Q | SEC ↗ |
| 27 | JPMORGAN CHASE & CO | 274,517 | $4M | +130,310 | +90.4% | 5Q | SEC ↗ |
| 28 | GOLDMAN SACHS GROUP INC | 253,258 | $4M | -4,834 | -1.9% | 5Q | SEC ↗ |
| 29 | MARSHALL WACE, LLP NEW | 248,387 | $4M | — | +0.0% | 1Q | SEC ↗ |
| 30 | NORTHERN TRUST CORP | 221,136 | $3M | +1,347 | +0.6% | 5Q | SEC ↗ |
| 31 | LANDSCAPE CAPITAL MANAGEMENT, L.L.C. NEW | 221,124 | $3M | — | +0.0% | 1Q | SEC ↗ |
| 32 | UBS Group AG | 210,146 | $3M | -545,821 | -72.2% | 5Q | SEC ↗ |
| 33 | XTX Topco Ltd | 195,817 | $3M | +154,317 | +371.8% | 4Q | SEC ↗ |
| 34 | Squarepoint Ops LLC | 194,766 | $3M | +21,908 | +12.7% | 5Q | SEC ↗ |
| 35 | LMR Partners LLP NEW | 192,663 | $3M | — | +0.0% | 1Q | SEC ↗ |
| 36 | RENAISSANCE TECHNOLOGIES LLC | 190,739 | $3M | -20,800 | -9.8% | 2Q | SEC ↗ |
| 37 | Diametric Capital, LP | 189,478 | $3M | +49,181 | +35.1% | 5Q | SEC ↗ |
| 38 | Monarch Alternative Capital LP NEW | 189,000 | $3M | — | +0.0% | 1Q | SEC ↗ |
| 39 | CITADEL ADVISORS LLC | 186,574 | $3M | -228,768 | -55.1% | 5Q | SEC ↗ |
| 40 | VANGUARD PORTFOLIO MANAGEMENT LLC | 185,756 | $3M | -712,464 | -79.3% | 2Q | SEC ↗ |
| 41 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 185,224 | $3M | +44,234 | +31.4% | 5Q | SEC ↗ |
| 42 | ADAGE CAPITAL PARTNERS GP, L.L.C. | 177,069 | $3M | -100,000 | -36.1% | 5Q | SEC ↗ |
| 43 | Allianz Asset Management GmbH | 176,225 | $3M | +25,817 | +17.2% | 4Q | SEC ↗ |
| 44 | VANGUARD FIDUCIARY TRUST CO | 165,204 | $3M | +14,066 | +9.3% | 2Q | SEC ↗ |
| 45 | Balyasny Asset Management L.P. NEW | 156,471 | $2M | — | +0.0% | 1Q | SEC ↗ |
| 46 | AQR CAPITAL MANAGEMENT LLC | 149,756 | $2M | +95,117 | +174.1% | 2Q | SEC ↗ |
| 47 | Nuveen, LLC | 149,690 | $2M | +69,530 | +86.7% | 5Q | SEC ↗ |
| 48 | PDT Partners, LLC | 146,107 | $2M | -43,018 | -22.7% | 3Q | SEC ↗ |
| 49 | NORGES BANK NEW | 145,300 | $2M | — | +0.0% | 1Q | SEC ↗ |
| 50 | Prescott Group Capital Management, L.L | 123,897 | $2M | +80,000 | +182.2% | 5Q | SEC ↗ |
Recent Activity
New Positions (20)
| Holder | Shares | Value |
|---|---|---|
| Bracebridge Capital, LLC | 1,404,913 | $21M |
| D. E. Shaw & Co., Inc. | 1,000,105 | $15M |
| Qube Research & Technologies Ltd | 565,049 | $9M |
| Sixth Street Partners Management Co | 425,287 | $6M |
| TIMUCUAN ASSET MANAGEMENT INC/FL | 398,551 | $6M |
| Diameter Capital Partners LP | 350,000 | $5M |
| MARSHALL WACE, LLP | 248,387 | $4M |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C | 221,124 | $3M |
| LMR Partners LLP | 192,663 | $3M |
| Monarch Alternative Capital LP | 189,000 | $3M |
| Balyasny Asset Management L.P. | 156,471 | $2M |
| NORGES BANK | 145,300 | $2M |
| JACOBS LEVY EQUITY MANAGEMENT, INC | 122,703 | $2M |
| Trexquant Investment LP | 102,776 | $2M |
| Y-Intercept (Hong Kong) Ltd | 87,100 | $1M |
| Aquatic Capital Management LLC | 84,225 | $1M |
| Jain Global LLC | 80,732 | $1M |
| Advisory Services Network, LLC | 72,798 | $1M |
| New Age Alpha Advisors, LLC | 63,100 | $955K |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS | 62,615 | $948K |
Sold Out (20)
| Holder | Prev Shares | Prev Value |
|---|---|---|
| Irenic Capital Management LP | 1,229,819 | $19M |
| Paralel Advisors LLC | 975,000 | $15M |
| Melqart Asset Management (UK) Ltd | 877,744 | $13M |
| LITTLEJOHN & CO LLC | 733,261 | $11M |
| ROYCE & ASSOCIATES LP | 347,998 | $5M |
| HEALTHCARE OF ONTARIO PENSION PLAN | 182,985 | $3M |
| PSquared Asset Management AG | 175,760 | $3M |
| SummitTX Capital, L.P. | 161,190 | $2M |
| Jefferies Financial Group Inc. | 154,300 | $2M |
| IMC-Chicago, LLC | 111,562 | $2M |
| PRINCIPAL FINANCIAL GROUP INC | 108,143 | $2M |
| Susquehanna Portfolio Strategies, L | 95,601 | $1M |
| Public Sector Pension Investment Bo | 79,872 | $1M |
| BRIGADE CAPITAL MANAGEMENT, LP | 77,357 | $1M |
| GSA CAPITAL PARTNERS LLP | 71,150 | $1M |
| Cambridge Investment Research Advis | 50,157 | $759K |
| SG Americas Securities, LLC | 48,812 | $739K |
| Point72 Asset Management, L.P. | 46,555 | $705K |
| AMERICAN CENTURY COMPANIES INC | 40,390 | $612K |
| AXQ CAPITAL, LP | 38,397 | $581K |
Biggest Increases (20)
| Holder | Added | Change % | Total Shares |
|---|---|---|---|
| FMR LLC | +921,615 | +84.8% | 2,008,264 |
| BARCLAYS PLC | +691,102 | +4453.6% | 706,620 |
| HRT FINANCIAL LP | +378,769 | +93.0% | 785,954 |
| DEUTSCHE BANK AG | +354,530 | +136.7% | 613,841 |
| CIBC WORLD MARKET INC. | +337,866 | +46.0% | 1,072,138 |
| MILLENNIUM MANAGEMENT LLC | +319,099 | +309.5% | 422,193 |
| TUDOR INVESTMENT CORP ET AL | +295,964 | +627.5% | 343,130 |
| XTX Topco Ltd | +154,317 | +371.8% | 195,817 |
| VANGUARD CAPITAL MANAGEMENT LLC | +142,619 | +13.9% | 1,169,316 |
| JPMORGAN CHASE & CO | +130,310 | +90.4% | 274,517 |
| BNP PARIBAS FINANCIAL MARKETS | +116,668 | +24.3% | 596,864 |
| Jump Financial, LLC | +115,246 | +58.6% | 312,046 |
| AQR CAPITAL MANAGEMENT LLC | +95,117 | +174.1% | 149,756 |
| Prescott Group Capital Management, | +80,000 | +182.2% | 123,897 |
| Nuveen, LLC | +69,530 | +86.7% | 149,690 |
| Quantbot Technologies LP | +65,856 | +219.4% | 95,873 |
| Mill Road Capital Management LLC | +65,500 | +28.9% | 292,250 |
| Diametric Capital, LP | +49,181 | +35.1% | 189,478 |
| MORGAN STANLEY | +46,960 | +11.2% | 464,489 |
| Quantinno Capital Management LP | +46,096 | +222.1% | 66,854 |
Biggest Decreases (20)
| Holder | Reduced | Change % | Total Shares |
|---|---|---|---|
| BlackRock, Inc. | -925,487 | -25.0% | 2,774,600 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | -712,464 | -79.3% | 185,756 |
| UBS Group AG | -545,821 | -72.2% | 210,146 |
| STATE STREET CORP | -473,531 | -45.0% | 579,828 |
| BANK OF AMERICA CORP /DE | -234,958 | -75.5% | 76,149 |
| CITADEL ADVISORS LLC | -228,768 | -55.1% | 186,574 |
| Invesco Ltd. | -211,365 | -67.6% | 101,387 |
| Shay Capital LLC | -206,375 | -77.5% | 60,000 |
| Hudson Bay Capital Management LP | -199,166 | -74.7% | 67,591 |
| ExodusPoint Capital Management, LP | -131,621 | -68.7% | 60,101 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | -100,000 | -36.1% | 177,069 |
| CITIGROUP INC | -95,189 | -78.4% | 26,261 |
| CHARLES SCHWAB INVESTMENT MANAGEMEN | -72,402 | -14.5% | 425,287 |
| ROTHSCHILD INVESTMENT LLC | -69,894 | -99.8% | 125 |
| Bank of New York Mellon Corp | -57,371 | -44.0% | 73,092 |
| GROUP ONE TRADING LLC | -51,315 | -44.4% | 64,194 |
| PDT Partners, LLC | -43,018 | -22.7% | 146,107 |
| Covestor Ltd | -40,055 | -83.5% | 7,912 |
| RHUMBLINE ADVISERS | -37,320 | -55.6% | 29,786 |
| Legal & General Group Plc | -32,254 | -63.5% | 18,575 |