FORWARD INDS INC N Y
COM NEW · Common Stock · CUSIP 349862409
70
institutional holders
+30 vs Q3 2025
42.7m
shares reported held*
$282.1mreported value*
41 new
11 added
8 reduced
11 sold out
net bought ≈ $22.9m (+3.0m shares)
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($745.7k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $6.61. Options: 5 managers hold calls ($2.1m notional), 4 hold puts ($1.7m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q2 2024 | 9 |
| Q3 2024 | 8 |
| Q4 2024 | 13 |
| Q1 2025 | 12 |
| Q2 2025 | 12 |
| Q3 2025 | 40 |
| Q4 2025 | 70 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 3 | 3 |
| Q4 2024 | 7 | 2 |
| Q1 2025 | 4 | 6 |
| Q2 2025 | 6 | 4 |
| Q3 2025 | 33 | 3 |
| Q4 2025 | 52 | 19 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $0 | $0 | — |
| Q2 2025 | $0 | $0 | — |
| Q3 2025 | $918.0k | $3.8m | 4.12 |
| Q4 2025 | $2.1m | $1.7m | 0.80 |
Biggest buyers
| MARSHALL WACE, LLP | New | +1.3m |
| VANGUARD GROUP INC | Added | +1.1m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +800.9k |
| STEADFAST CAPITAL MANAGEMENT LP | New | +746.0k |
| Qube Research & Technologies Ltd | Added | +460.5k |
| Brevan Howard Capital Management LP | New | +353.5k |
| STATE STREET CORP | New | +210.5k |
| NORTHERN TRUST CORP | New | +154.3k |
| WOLVERINE ASSET MANAGEMENT LLC | New | +137.6k |
| RBF Capital, LLC | New | +119.5k |
Biggest sellers
| JANE STREET GROUP, LLC | Reduced | -816.5k |
| CITADEL ADVISORS LLC | Reduced | -670.3k |
| ARISTEIA CAPITAL, L.L.C. | Sold out | -540.5k |
| Monashee Investment Management LLC | Sold out | -405.4k |
| ExodusPoint Capital Management, LP | Sold out | -270.3k |
| Anson Funds Management LP | Sold out | -270.3k |
| SEVEN GRAND MANAGERS, LLC | Sold out | -270.3k |
| Alyeska Investment Group, L.P. | Reduced | -263.4k |
| Pantera Capital Partners LP | Reduced | -147.3k |
| MOORE CAPITAL MANAGEMENT, LP | Reduced | -70.3k |
Biggest calls
| SIMPLEX TRADING, LLC | New | $677.5k102.5k shares |
| CITADEL ADVISORS LLC | Added | $632.6k95.7k shares |
| JANE STREET GROUP, LLC | New | $438.9k66.4k shares |
| GROUP ONE TRADING LLC | Added | $297.4k45.0k shares |
| Secure Asset Management, LLC | New | $66.1k10.0k shares |
Biggest puts
| JANE STREET GROUP, LLC | New | $784.6k118.7k shares |
| GROUP ONE TRADING LLC | New | $672.2k101.7k shares |
| CITADEL ADVISORS LLC | New | $218.1k33.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $24.5k3.7k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
Galaxy Digital, LP
13D · may seek influence
new · filed 2025-09-18
Stated purposeThe information set forth in Items 3 and 6 of this Schedule 13D is incorporated by reference into this Item 4. The Reporting Persons acquired the securities described in this Schedule 13D for investment purposes and intend to review their investments in the Issuer on a continuing basis. Any actions the Reporting Persons might undertake may be made at any time and from time to time without prior notice and will be dependent upon the Reporting Persons' review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels of the Issuer's securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; and other future … Full filing |
10.0% |
| J Digital 6 Cayman Ltd. 13D · may seek influence +0.3 pts · filed 2026-03-06 | 9.6% |
Fell to 5% or below in the last year: Multicoin Capital Management, LLC (0.0%, 2026-05-08)
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| Galaxy Group Investments LLC 7.44% of their portfolio | 8.1m $53.6m | Unchanged |
| Multicoin Capital Management, LLC 45.91% of their portfolio | 7.9m $52.5m | Unchanged |
| J Digital 6 LLC 28.19% of their portfolio | 7.9m $52.5m | Unchanged |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 3.3m $21.6m | Reduced -816.5k |
| Alyeska Investment Group, L.P. 0.06% of their portfolio | 3.3m $21.5m | Reduced -263.4k |
| Polar Asset Management Partners Inc. 0.18% of their portfolio | 1.4m $8.9m | Unchanged |
| Ghisallo Capital Management LLC 0.40% of their portfolio | 1.4m $8.9m | Unchanged |
| MARSHALL WACE, LLP 0.01% of their portfolio | 1.3m $8.9m | New |
| VANGUARD GROUP INC 0.00% of their portfolio | 1.1m $7.5m | Added +1.1m |
| Weiss Asset Management LP 0.10% of their portfolio | 1.1m $7.1m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 809.0k $5.4m | Added +800.9k |
| STEADFAST CAPITAL MANAGEMENT LP 0.09% of their portfolio | 746.0k $4.9m | New |
| SkyBridge Capital II, LLC 21.15% of their portfolio | 540.5k $3.6m | Unchanged |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 475.4k $3.1m | Added +460.5k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 410.8k $2.7m | Reduced -670.3k |
| Brevan Howard Capital Management LP 0.04% of their portfolio | 353.5k $2.3m | New |
| STATE STREET CORP 0.00% of their portfolio | 210.5k $1.4m | New |
| Pantera Capital Partners LP 0.82% of their portfolio | 204.1k $1.3m | Reduced -147.3k |
| MOORE CAPITAL MANAGEMENT, LP 0.03% of their portfolio | 200.0k $1.3m | Reduced -70.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 154.3k $1.0m | New |
| WOLVERINE ASSET MANAGEMENT LLC 0.01% of their portfolio | 137.6k $909.2k | New |
| IEQ CAPITAL, LLC 0.00% of their portfolio | 130.9k $865.0k | Added +112.5k |
| RBF Capital, LLC 0.02% of their portfolio | 119.5k $790.0k | New |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 112.8k $745.7k | Added +16.6k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 100.0k $661.1k | Reduced -19.2k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 96.5k $638.1k | New |
| Quadrature Capital Ltd 0.01% of their portfolio | 93.4k $617.4k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 87.3k $577.1k | Added +78.0k |
| MORGAN STANLEY 0.00% of their portfolio | 82.9k $548.2k | Added +81.4k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 81.7k $540.1k | New |
| UBS Group AG 0.00% of their portfolio | 78.3k $517.5k | Added +72.9k |
| Secure Asset Management, LLC 0.07% of their portfolio | 65.7k $434.3k | New |
| XTX Topco Ltd 0.01% of their portfolio | 63.4k $419.0k | New |
| GROUP ONE TRADING LLC 0.01% of their portfolio | 62.8k $415.0k | New |
| Man Group plc 0.00% of their portfolio | 39.9k $263.9k | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 39.1k $258.1k | New |
| Summit Financial, LLC 0.00% of their portfolio | 33.6k $221.8k | New |
| BlackRock, Inc. 0.00% of their portfolio | 32.0k $211.8k | Added +3.8k |
| Engineers Gate Manager LP 0.00% of their portfolio | 30.7k $203.2k | New |
| Hudson Bay Capital Management LP 0.00% of their portfolio | 30.0k $198.6k | New |
| State of Wyoming 0.02% of their portfolio | 28.6k $189.1k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 28.2k $186.7k | New |
| Aristides Capital LLC 0.06% of their portfolio | 27.3k $180.5k | New |
| Cable Car Capital, LP 0.01% of their portfolio | 27.0k $178.7k | New |
| OMERS ADMINISTRATION Corp 0.00% of their portfolio | 26.8k $177.1k | New |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 26.5k $174.8k | New |
| Verition Fund Management LLC 0.00% of their portfolio | 26.3k $173.9k | New |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 24.4k $161.3k | Reduced -35.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 17.8k $117.6k | New |
| BANK OF NOVA SCOTIA 0.00% of their portfolio | 17.6k $116.3k | New |
| SG Americas Securities, LLC 0.00% of their portfolio | 17.6k $116.0k | New |
| Cetera Investment Advisers 0.00% of their portfolio | 16.8k $111.1k | New |
| Lighthouse Investment Partners, LLC 0.00% of their portfolio | 15.5k $102.7k | New |
| nVerses Capital, LLC 0.22% of their portfolio | 15.0k $99.2k | New |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 12.8k $84.9k | Added +11.6k |
| SummitTX Capital, L.P. 0.00% of their portfolio | 12.2k $80.8k | New |
| TWO SIGMA SECURITIES, LLC 0.01% of their portfolio | 11.8k $78.0k | New |
| Vontobel Holding Ltd. 0.00% of their portfolio | 11.8k $77.7k | New |
| BARCLAYS PLC 0.00% of their portfolio | 6.4k $42.6k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 6.1k $40.2k | Added +4.8k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 2.1k $13.8k | Reduced -14.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.5k $10.0k | New |
| CIBC Private Wealth Group LLC 0.00% of their portfolio | 1.0k $6.6k | New |
| HUNTINGTON NATIONAL BANK 0.00% of their portfolio | 301 $2.0k | New |
| FMR LLC 0.00% of their portfolio | 248 $1.6k | Unchanged |
| Jump Financial, LLC 0.00% of their portfolio | 100 $661 | Unchanged |
| Kings Path Partners LLC 0.00% of their portfolio | 100 $661 | New |
| Crewe Advisors LLC 0.00% of their portfolio | 11 $73 | New |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 10 $66 | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 1 $7 | New |