Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Finward Bancorp (FNWD)

73 + Investors. Track Smart Money conviction in FNWD. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +4
Streak
4Q ▲
Buyers last Q
53%

Smart Money Signals — FNWD

Based on 74 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 4 quarters in a row

last 6Q
For 4 consecutive quarters, more hedge funds added FNWD than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
74 hedge funds hold FNWD right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +111% more funds vs a year ago

fund count last 6Q
+39 new funds entered over the past year (+111% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡

Slight buying edge — 53% buying

31 buying28 selling
Last quarter: 31 funds bought or added vs 28 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~11 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 18 → 15 → 15 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌

Mixed — 27% long-term, 42% new

■ 27% conviction (2yr+) ■ 31% medium ■ 42% new
Of the 74 current holders: 20 (27%) held >2 years, 23 held 1–2 years, and 31 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📊

Peak discovery — momentum slowing

2 → 18 → 15 → 15 → 11 new funds/Q
New funds entering each quarter: 18 → 15 → 15 → 11. FNWD is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊

Mixed cohorts — 32% veterans, 53% new entrants

■ 32% veterans ■ 15% 1-2yr ■ 53% new
Of 74 current holders: 24 (32%) held 2+ years, 11 held 1–2 years, 39 (53%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 47% AUM from top-100 funds

47% from top-100 AUM funds
27 of 74 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in FNWD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
5.1
out of 10
Moderate Exit Risk
Exit risk score 5.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — FNWD

In 2026 Q1, 31 hedge funds were net buyers of FNWD (11 opened a new position, 20 added to an existing one), while 28 reduced or exited (21 trimmed, 7 sold completely) — a 53% buyer ratio, indicating a slight buying edge. This marks 4 consecutive quarters of net institutional buying — a persistent conviction signal. 47% of total institutional value in FNWD is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +4 funds (more new holders than closures). Total institutional holders: 74.

Hedge Fund Ownership: FNWD

How many hedge funds hold FNWD — quarterly history vs. share price
Quarterly hedge fund ownership of FNWD vs. share price

Market Analysis: FNWD

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FNWD

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Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

11 top-rated funds 1 high-conviction
Consensus
4.7
/ 10
breadth
×
Elite
1.1
/ 10
conviction
Hedge Fund Positioning: FNWD
2026 Q2 Stats Unlock in 1 days 73 + Investors

Track Smart Money conviction in FNWD. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 73 70 4.29%
13F Shares 2M 2M 0.2%
Total Value $74M $74M 0.83%
New Positions 10 15 -5
Increased Positions 20 27 -7
Closed Positions 7 2 +5
Reduced Positions 21 13 +8
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FNWD

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Financial Highlights

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Institutional Holders (2026 Q2)

73 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in FNWD. Verified SEC 13F-HR filings.

QUARTER:
2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 FNWD holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 PL Capital Advisors, LLC 4.05% 395,716 $14.6M
2 Finward Bancorp 3.66% 131,360 $4.8M
3 Elizabeth Park Capital Advisors, Ltd. 1.46% 57,622 $2.1M
4 Raffles Associates LP 0.88% 26,580 $978K
5 Endeavour Capital Advisors Inc 0.75% 99,543 $3.7M
6 Fourthstone LLC 0.55% 20,976 $771K
7 Black Maple Capital Management LP 0.25% 12,197 $449K
8 Daytona Street Capital LLC 0.16% 6,000 $216K
9 Caldwell Trust Co 0.12% 40,430 $1.5M
10 Old National Bancorp /In/ 0.01% 15,999 $588K
11 Fiduciary Trust Co 0.01% 23,330 $858K
12 Mesirow Financial Investment Management, Inc. 0.01% 10,667 $392K
13 Alliancebernstein L.P. 0.01% 417,190 $15.1M
14 Hotchkis & Wiley Capital Management LLC 0.00% 44,940 $1.7M
15 Horizon Bancorp Inc /In/ 0.00% 268 $10K
16 Renaissance Technologies LLC 0.00% 45,300 $1.7M
17 Quadrature Capital Ltd 0.00% 6,289 $231K
18 Fifth Third Bancorp 0.00% 29,805 $1.1M
19 Trust Co 0.00% 500 $18K
20 Private Advisor Group, LLC 0.00% 8,384 $308K
21 Essential Partners LLC 0.00% 47 $2K
22 Squarepoint Ops LLC 0.00% 13,937 $513K
23 Millennium Management LLC 0.00% 36,086 $1.3M
24 Johnson Financial Group, Inc. 0.00% 311 $11K
25 Commonwealth Equity Services, LLC 0.00% 8,001 $294K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Finward Bancorp (FNWD)

What does the Smart Money Trend signal show for FNWD?

Buying streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds added FNWD than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for FNWD?

Slight buying edge — 53% buying: Last quarter: 31 funds bought or added vs 28 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for FNWD holders?

Elite ownership — 47% AUM from top-100 funds: 27 of 74 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in FNWD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held FNWD?

Mixed — 27% long-term, 42% new: Of the 74 current holders: 20 (27%) held >2 years, 23 held 1–2 years, and 31 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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