Institutional HoldersBeta

Who holds a company, from every 13F filed for the quarter, one row per filer exactly as filed, against the latest share count the company reported.

FORWARD AIR CORP

CIK 0000912728FWRD· quarter ending 2026-06-30

Shares outstanding

33,780,862

as of 2026-07-29 · 10-Q cover page, filed 2026-08-05

Held by 13F filers

30,469,760

90.2% of shares outstanding

Holders

186

-5 vs 2026-03-31 · 47 new, 52 exited

Value

$412.0M

shares +3.5% vs prior quarter

Share classes (cover page of the 10-Q filed 2026-08-05, as of 2026-07-29)

Class	Listed	Shares outstanding	Held by 13F filers	% of class	Holders	CUSIP
Common stock	FWRD · NASDAQ	33,780,862	30,469,760	90.2%	186	34986A104

Each class is compared with its own share count; classes are not added together. A class that is not exchange-listed cannot be held by 13F filers.

Securities (CUSIPs held in 13F this quarter)

tick to combine

Count	CUSIP	Class (as filers write it)	Holders	Shares held	Class shares	% of class	Value	Options	Mapped via
	34986A104	COM	186	30,469,760	33,780,862	90.2%	$412.0M	13 call / 6 put	13DG	holders →
	349853101	COMnot common	1	1	—	—	$20	—	13DG	holders →

Totals combine the ticked CUSIPs and update as you tick: common-stock classes by default; preferreds, notes, warrants and depositary shares are listed but not counted. "holders →" shows a single CUSIP on its own. Bonds are held as a principal amount, not shares. Options positions are never counted as holdings. 1 further CUSIPs map to this company (mostly bonds) but no 13F filer held them this quarter.

Top holders (186 of 186 · 34986A104)

change vs 2026-03-31

#	Filer	Shares	% of class	Value	Change
1	CLEARLAKE CAPITAL GROUP, L.P.	3,825,000	11.32%	$51.7M	—
2	BlackRock, Inc.	2,774,600	8.21%	$37.5M	-925,487 (-25.0%)
3	FMR LLC	2,008,264	5.94%	$27.1M	+921,615 (+84.8%)
4	Bracebridge Capital, LLC	1,404,913	4.16%	$19.0M	NEW
5	VANGUARD CAPITAL MANAGEMENT LLC	1,169,316	3.46%	$15.8M	+142,619 (+13.9%)
6	PRIVATE MANAGEMENT GROUP INC	1,145,760	3.39%	$15.5M	-9,645 (-0.8%)
7	CIBC WORLD MARKET INC.	1,072,138	3.17%	$14.5M	+337,866 (+46.0%)
8	D. E. Shaw & Co., Inc.	1,000,105	2.96%	$13.5M	NEW
9	HRT FINANCIAL LP	785,954	2.33%	$10.6M	+378,769 (+93.0%)
10	BARCLAYS PLC	706,620	2.09%	$9.5M	+691,102 (+4453.6%)
11	DEUTSCHE BANK AG\	613,841	1.82%	$8.3M	+354,530 (+136.7%)
12	BNP PARIBAS FINANCIAL MARKETS	596,864	1.77%	$8.1M	+116,668 (+24.3%)
13	GEODE CAPITAL MANAGEMENT, LLC	581,416	1.72%	$7.9M	+29,856 (+5.4%)
14	STATE STREET CORP	579,828	1.72%	$7.8M	-473,531 (-45.0%)
15	Qube Research & Technologies Ltd	565,049	1.67%	$7.6M	NEW
16	JANE STREET GROUP, LLC	492,458	1.46%	$6.7M	-348 (-0.1%)
17	MORGAN STANLEY	464,489	1.38%	$6.3M	+46,960 (+11.2%)
18	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	425,287	1.26%	$5.7M	-72,402 (-14.5%)
19	MILLENNIUM MANAGEMENT LLC	422,193	1.25%	$5.7M	+319,099 (+309.5%)
20	TIMUCUAN ASSET MANAGEMENT INC/FL	398,551	1.18%	$5.4M	NEW
21	Diameter Capital Partners LP	350,000	1.04%	$4.7M	NEW
22	TUDOR INVESTMENT CORP ET AL	343,130	1.02%	$4.6M	+295,964 (+627.5%)
23	Jump Financial, LLC	312,046	0.92%	$4.2M	+115,246 (+58.6%)
24	DIMENSIONAL FUND ADVISORS LP	300,403	0.89%	$4.1M	-18,455 (-5.8%)
25	Mill Road Capital Management LLC	292,250	0.87%	$3.9M	+65,500 (+28.9%)
26	JPMORGAN CHASE & CO	274,517	0.81%	$4.0M	+130,310 (+90.4%)
27	GOLDMAN SACHS GROUP INC	253,258	0.75%	$3.4M	-4,834 (-1.9%)
28	MARSHALL WACE, LLP	248,387	0.74%	$3.4M	NEW
29	NORTHERN TRUST CORP	221,136	0.65%	$3.0M	+1,347 (+0.6%)
30	LANDSCAPE CAPITAL MANAGEMENT, L.L.C.	221,124	0.65%	$3.0M	NEW
31	UBS Group AG	210,146	0.62%	$2.8M	-545,821 (-72.2%)
32	XTX Topco Ltd	195,817	0.58%	$2.6M	+154,317 (+371.8%)
33	Squarepoint Ops LLC	194,766	0.58%	$2.6M	+21,908 (+12.7%)
34	LMR Partners LLP	192,663	0.57%	$2.6M	NEW
35	RENAISSANCE TECHNOLOGIES LLC	190,739	0.56%	$2.6M	-20,800 (-9.8%)
36	Diametric Capital, LP	189,478	0.56%	$2.6M	+49,181 (+35.1%)
37	Monarch Alternative Capital LP	189,000	0.56%	$2.6M	NEW
38	CITADEL ADVISORS LLC	186,574	0.55%	$2.5M	-228,768 (-55.1%)
39	VANGUARD PORTFOLIO MANAGEMENT LLC	185,756	0.55%	$2.5M	-712,464 (-79.3%)
40	SUSQUEHANNA INTERNATIONAL GROUP, LLP	185,224	0.55%	$2.5M	+44,234 (+31.4%)
41	ADAGE CAPITAL PARTNERS GP, L.L.C.	177,069	0.52%	$2.4M	-100,000 (-36.1%)
42	Allianz Asset Management GmbH	176,225	0.52%	$2.4M	+25,817 (+17.2%)
43	VANGUARD FIDUCIARY TRUST CO	165,204	0.49%	$2.2M	+14,066 (+9.3%)
44	Balyasny Asset Management L.P.	156,471	0.46%	$2.1M	NEW
45	AQR CAPITAL MANAGEMENT LLC	149,756	0.44%	$2.0M	+95,117 (+174.1%)
46	Nuveen, LLC	149,690	0.44%	$2.0M	+69,530 (+86.7%)
47	PDT Partners, LLC	146,107	0.43%	$2.0M	-43,018 (-22.7%)
48	NORGES BANK	145,300	0.43%	$2.0M	NEW
49	Prescott Group Capital Management, L.L.C.	123,897	0.37%	$1.7M	+80,000 (+182.2%)
50	JACOBS LEVY EQUITY MANAGEMENT, INC	122,703	0.36%	$1.7M	NEW
51	Carlyle Group Inc.	107,214	0.32%	$1.4M	—
52	AlpInvest Partners B.V.	103,330	0.31%	$1.4M	—
53	Trexquant Investment LP	102,776	0.30%	$1.4M	NEW
54	Invesco Ltd.	101,387	0.30%	$1.4M	-211,365 (-67.6%)
55	Quantbot Technologies LP	95,873	0.28%	$1.3M	+65,856 (+219.4%)
56	Y-Intercept (Hong Kong) Ltd	87,100	0.26%	$1.2M	NEW
57	Aquatic Capital Management LLC	84,225	0.25%	$1.1M	NEW
58	Jain Global LLC	80,732	0.24%	$1.1M	NEW
59	Engineers Gate Manager LP	76,646	0.23%	$1.0M	+31,241 (+68.8%)
60	BANK OF AMERICA CORP /DE/	76,149	0.23%	$1.0M	-234,958 (-75.5%)
61	Bank of New York Mellon Corp	73,092	0.22%	$987K	-57,371 (-44.0%)
62	Advisory Services Network, LLC	72,798	0.22%	$984K	NEW
63	Voleon Capital Management LP	69,108	0.20%	$934K	-24,560 (-26.2%)
64	Hudson Bay Capital Management LP	67,591	0.20%	$913K	-199,166 (-74.7%)
65	Quantinno Capital Management LP	66,854	0.20%	$903K	+46,096 (+222.1%)
66	GROUP ONE TRADING LLC	64,194	0.19%	$867K	-51,315 (-44.4%)
67	New Age Alpha Advisors, LLC	63,100	0.19%	$852K	NEW
68	SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC	62,615	0.19%	$846K	NEW
69	ExodusPoint Capital Management, LP	60,101	0.18%	$812K	-131,621 (-68.7%)
70	Shay Capital LLC	60,000	0.18%	$811K	-206,375 (-77.5%)
71	Freestone Grove Partners LP	56,786	0.17%	$767K	NEW
72	Schonfeld Strategic Advisors LLC	55,610	0.16%	$751K	+30,281 (+119.6%)
73	Rangeley Capital, LLC	55,000	0.16%	$743K	-30,000 (-35.3%)
74	TWO SIGMA INVESTMENTS, LP	53,537	0.16%	$723K	NEW
75	Inspire Investing, LLC	51,092	0.15%	$690K	+19,955 (+64.1%)
76	Walleye Capital LLC	50,802	0.15%	$686K	NEW
77	ADAR1 Capital Management, LLC	48,241	0.14%	$652K	-30,000 (-38.3%)
78	Marble Bar Asset Management LLP	46,719	0.14%	$631K	NEW
79	Integrity Financial Corp /WA	46,008	0.14%	$622K	+12,741 (+38.3%)
80	EntryPoint Capital, LLC	45,080	0.13%	$609K	+34,701 (+334.3%)
81	Swiss National Bank	44,300	0.13%	$598K	+4,900 (+12.4%)
82	Steward Partners Investment Advisory, LLC	43,661	0.13%	$590K	+43,517 (+30220.1%)
83	Verition Fund Management LLC	43,488	0.13%	$588K	+24,637 (+130.7%)
84	LPL Financial LLC	42,485	0.13%	$574K	+170 (+0.4%)
85	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	38,427	0.11%	$519K	-1,247 (-3.1%)
86	PRICE T ROWE ASSOCIATES INC /MD/	36,877	0.11%	$499K	+12,534 (+51.5%)
87	INDEPENDENT FINANCIAL GROUP, LLC	35,035	0.10%	$473K	—
88	Counterpoint Mutual Funds LLC	33,550	0.10%	$453K	—
89	Entropy Technologies, LP	30,116	0.09%	$407K	+10,436 (+53.0%)
90	WINTON GROUP Ltd	30,067	0.09%	$406K	NEW
91	RHUMBLINE ADVISERS	29,786	0.09%	$402K	-37,320 (-55.6%)
92	Brevan Howard Capital Management LP	29,635	0.09%	$400K	+8,019 (+37.1%)
93	Caption Management, LLC	29,571	0.09%	$400K	+28,086 (+1891.3%)
94	HSBC HOLDINGS PLC	28,473	0.08%	$381K	NEW
95	ALLIANCEBERNSTEIN L.P.	28,110	0.08%	$470K	+1,481 (+5.6%)
96	FIRST CITIZENS BANK & TRUST CO	26,923	0.08%	$364K	+241 (+0.9%)
97	CITIGROUP INC	26,261	0.08%	$355K	-95,189 (-78.4%)
98	Envestnet Portfolio Solutions, Inc.	25,807	0.08%	$349K	+284 (+1.1%)
99	PRELUDE CAPITAL MANAGEMENT, LLC	25,735	0.08%	$348K	-9,780 (-27.5%)
100	Creative Planning	24,955	0.07%	$337K	-8,940 (-26.4%)
101	ROYAL BANK OF CANADA	23,943	0.07%	$324K	+5,552 (+30.2%)
102	FOX RUN MANAGEMENT, L.L.C.	22,593	0.07%	$305K	NEW
103	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	22,436	0.07%	$303K	+3,368 (+17.7%)
104	Cornerstone Wealth, LLC/TN	22,394	0.07%	$283K	+3,302 (+17.3%)
105	WELLS FARGO & COMPANY/MN	21,875	0.06%	$296K	+4,961 (+29.3%)
106	Legal & General Group Plc	18,575	0.05%	$251K	-32,254 (-63.5%)
107	Zurcher Kantonalbank (Zurich Cantonalbank)	17,600	0.05%	$238K	+10,634 (+152.7%)
108	Cetera Investment Advisers	15,867	0.05%	$214K	NEW
109	ALLSTATE CORP	15,107	0.04%	$204K	+2,421 (+19.1%)
110	Scientech Research LLC	14,929	0.04%	$202K	NEW
111	ARISTEIA CAPITAL, L.L.C.	14,789	0.04%	$200K	NEW
112	CANADA PENSION PLAN INVESTMENT BOARD	14,200	0.04%	$192K	NEW
113	Catalyst Funds Management Pty Ltd	13,600	0.04%	$184K	NEW
114	VANGUARD ASSET MANAGEMENT, Ltd	13,352	0.04%	$180K	—
115	Corient Private Wealth LP	12,985	0.04%	$175K	NEW
116	MetLife Investment Management, LLC	12,654	0.04%	$171K	+1,067 (+9.2%)
117	Jupiter Topco LLC	12,347	0.04%	$167K	NEW
118	SIMPLEX TRADING, LLC	12,270	0.04%	$166K	-5,329 (-30.3%)
119	Persistent Asset Partners Ltd	10,977	0.03%	$148K	NEW
120	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	10,638	0.03%	$144K	+422 (+4.1%)
121	Russell Investments Group, Ltd.	9,367	0.03%	$127K	-11,261 (-54.6%)
122	Vanguard Global Advisers, LLC	8,616	0.03%	$116K	—
123	KLP KAPITALFORVALTNING AS	8,600	0.03%	$116K	—
124	BFSG, LLC	8,495	0.03%	$115K	—
125	LOGAN CAPITAL MANAGEMENT INC	8,454	0.03%	$114K	NEW
126	NEW YORK STATE COMMON RETIREMENT FUND	8,017	0.02%	$108K	+6,000 (+297.5%)
127	Covestor Ltd	7,912	0.02%	$107K	-40,055 (-83.5%)
128	State of Wyoming	7,551	0.02%	$102K	NEW
129	WOLVERINE ASSET MANAGEMENT LLC	6,565	0.02%	$89K	—
130	Police & Firemen's Retirement System of New Jersey	5,725	0.02%	$77K	—
131	Vanguard Investments Australia, Ltd.	5,618	0.02%	$76K	—
132	OSAIC HOLDINGS, INC.	5,147	0.02%	$70K	+331 (+6.9%)
133	State of Tennessee, Department of Treasury	5,090	0.02%	$69K	—
134	Tower Research Capital LLC (TRC)	4,759	0.01%	$64K	+3,537 (+289.4%)
135	Allied Private Wealth LLC	4,199	0.01%	$51K	NEW
136	Arax Advisory Partners	3,664	0.01%	$50K	+3,573 (+3926.4%)
137	PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO	3,633	0.01%	$49K	—
138	Caitong International Asset Management Co., Ltd	2,154	0.01%	$29K	NEW
139	Ameritas Investment Partners, Inc.	1,771	0.01%	$24K	—
140	GAMMA Investing LLC	1,412	0.00%	$19K	-1,409 (-49.9%)
141	PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	1,277	0.00%	$17K	+177 (+16.1%)
142	NISA INVESTMENT ADVISORS, LLC	1,267	0.00%	$17K	-2,497 (-66.3%)
143	BNP PARIBAS ASSET MANAGEMENT Holding S.A.	1,156	0.00%	$16K	+659 (+132.6%)
144	US BANCORP \DE\	788	0.00%	$11K	-809 (-50.7%)
145	Parallel Advisors, LLC	734	0.00%	$10K	+558 (+317.0%)
146	Allworth Financial LP	658	0.00%	$9K	+6 (+0.9%)
147	Nykredit A/S	592	0.00%	$8K	NEW
148	EMERALD ADVISERS, LLC	585	0.00%	$8K	—
149	Nalls Sherbakoff Group, LLC	500	0.00%	$7K	—
150	Rockefeller Capital Management L.P.	458	0.00%	$6K	+276 (+151.6%)
151	Farther Finance Advisors, LLC	436	0.00%	$6K	-144 (-24.8%)
152	JONES FINANCIAL COMPANIES LLLP	351	0.00%	$5K	+275 (+361.8%)
153	EverSource Wealth Advisors, LLC	283	0.00%	$4K	-79 (-21.8%)
154	North Star Investment Management Corp.	260	0.00%	$4K	—
155	Versant Capital Management, Inc	232	0.00%	$3K	-566 (-70.9%)
156	Owl Creek Wealth Partners LLC	230	0.00%	$3K	—
157	Quarry LP	223	0.00%	$3K	+200 (+869.6%)
158	FIFTH THIRD BANCORP	128	0.00%	$2K	-5,367 (-97.7%)
159	ROTHSCHILD INVESTMENT LLC	125	0.00%	$2K	-69,894 (-99.8%)
160	Nvest Wealth Strategies, Inc.	120	0.00%	$2K	—
161	Optiver Holding B.V.	112	0.00%	$2K	NEW
162	Basepoint Wealth LLC	100	0.00%	$1K	—
163	Synergy Investment Management, LLC	100	0.00%	$1K	NEW
164	MassMutual Private Wealth & Trust, FSB	93	0.00%	$1K	-319 (-77.4%)
165	Sterling Capital Management LLC	81	0.00%	$1K	-423 (-83.9%)
166	Cornerstone Financial Management LLC	80	0.00%	$1K	NEW
167	Anchor Investment Management, LLC	65	0.00%	$878	—
168	Bogart Wealth, LLC	54	0.00%	$730	NEW
169	Essential Partners LLC	39	0.00%	$527	+34 (+680.0%)
170	Smartleaf Asset Management LLC	34	0.00%	$491	—
171	True Wealth Design, LLC	32	0.00%	$433	+18 (+128.6%)
172	UMB Bank, n.a.	30	0.00%	$405	+16 (+114.3%)
173	SBI Securities Co., Ltd.	25	0.00%	$338	+10 (+66.7%)
174	Salomon & Ludwin, LLC	19	0.00%	$268	-687 (-97.3%)
175	NewEdge Advisors, LLC	18	0.00%	$243	—
176	Prestige Wealth Management Group LLC	17	0.00%	$230	—
177	Clearstead Advisors, LLC	17	0.00%	$231	NEW
178	PNC Financial Services Group, Inc.	15	0.00%	$203	-506 (-97.1%)
179	SIGNATUREFD, LLC	8	0.00%	$108	-349 (-97.8%)
180	IFP Advisors, Inc	8	0.00%	$108	+4 (+100.0%)
181	GILPIN WEALTH MANAGEMENT, LLC	6	0.00%	$82	+2 (+50.0%)
182	TOUNJIAN ADVISORY PARTNERS, LLC	6	0.00%	$82	NEW
183	Transamerica Financial Advisors, LLC	6	0.00%	$81	NEW
184	INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC	5	0.00%	$70	—
185	Silver Grove Financial Group, Inc.	3	0.00%	$41	NEW
186	Vermillion Wealth Management, Inc.	0	0.00%	$1	-14 (-100.0%)

Exited since 2026-03-31 (52 filers; largest 25 shown)

Irenic Capital Management LP	−1,229,819
Paralel Advisors LLC	−975,000
Melqart Asset Management (UK) Ltd	−877,744
LITTLEJOHN & CO LLC	−733,261
ROYCE & ASSOCIATES LP	−347,998
Jefferies Financial Group Inc.	−154,300
IMC-Chicago, LLC	−111,562
PRINCIPAL FINANCIAL GROUP INC	−108,143
Susquehanna Portfolio Strategies, LLC	−95,601
Public Sector Pension Investment Board	−79,872
GSA CAPITAL PARTNERS LLP	−71,150
Cambridge Investment Research Advisors, Inc.	−50,157
Point72 Asset Management, L.P.	−46,555
AMERICAN CENTURY COMPANIES INC	−40,390
AXQ CAPITAL, LP	−38,397
AMERIPRISE FINANCIAL INC	−36,633
Walleye Trading LLC	−26,170
Tidal Investments LLC	−21,793
PRUDENTIAL FINANCIAL INC	−21,699
NEW YORK STATE TEACHERS RETIREMENT SYSTEM	−20,741
CenterBook Partners LP	−19,664
FULLER & THALER ASSET MANAGEMENT, INC.	−16,245
Thrivent Financial for Lutherans	−14,808
JANUS HENDERSON GROUP PLC	−12,347
Headlands Technologies LLC	−11,706

Large holders from 13D/13G (latest per reporting person, last 2 years)

Filed when a holder crosses 5% or changes materially, so often more current than the quarter-end 13F. Percentages are the filer's own, against the share count they used.

Reporting person	Form	Filed	Event	Shares	% of class
Barclays PLC	SCHEDULE 13G	2026-08-13	2026-06-30	2,480,010	7.84%
Abigail P. Johnson	SCHEDULE 13G	2026-08-06	2026-06-30	2,008,264.35	6.4%
FMR LLC	SCHEDULE 13G	2026-08-06	2026-06-30	2,008,264.35	6.4%
FFI Fund Ltd.	SCHEDULE 13G	2026-07-28	2026-07-23	1,127,575	3.6%
Olifant Fund, Ltd.	SCHEDULE 13G	2026-07-28	2026-07-23	242,898	0.8%
Bracebridge Capital, LLC	SCHEDULE 13G	2026-07-28	2026-07-23	1,608,505	5.1%
FYI Ltd.	SCHEDULE 13G	2026-07-28	2026-07-23	238,032	0.8%
BlackRock, Inc.	SCHEDULE 13G/A	2026-07-08	2026-06-30	1,698,107	5.4%
Cetus Capital VI, L.P.	SCHEDULE 13G/A	2026-05-12	2026-03-31	245,588	0.76%
The Vanguard Group	SCHEDULE 13G/A	2026-03-26	2026-03-13	0	0%
Clearlake Capital Group, L.P.	SCHEDULE 13D/A	2025-07-03	2025-07-03	3,825,000	12.6%
Jose Enrique Feliciano	SCHEDULE 13D/A	2025-07-03	2025-07-03	3,825,000	12.6%
Behdad Eghbali	SCHEDULE 13D/A	2025-07-03	2025-07-03	3,825,000	12.6%

Source: SEC Form 13F-HR information tables for the quarter ending 2026-06-30 (filed within 45 days of quarter end; amendments applied; values normalised to dollars), the share count from the company's latest 10-K/10-Q XBRL cover page, and Schedule 13D/13G filings. Each row is a legal 13F filer as filed — related entities (e.g. Vanguard's advisers) are not merged. Retail brokerage accounts are not reported on 13F, so the remainder is mostly retail and insiders.