Forge Global Holdings

FRGE • NYSE

Forge Global Holdings is a software - application company in the technology sector on NYSE, led by Drew Sievers, with a market cap of $610.3M. As of Q3 2025, 38% of shares are held by 80 institutional investors, with ROB Exploration LLC as the largest holder at 11.88%.

Chief Executive OfficerDrew Sievers

Market Cap$610.3M

Software - Application

Technology

Employees345.0

Websiteforgeglobal.com

Country

United States of America

Overview

Overview of institutional ownership in FRGE as of Q3 2025 with a market cap of $229.7M

All Institutions

Institutions: 80
Value Held: $86.1M
Shares Held: 5.1M
Avg Position: $1.1M
Median Position: $140.6K

Hedge Funds

Hedge Funds: 9
Value Held: $13.3M
Shares Held: 787.9K
Avg Position: $1.5M
Median Position: $986.6K

Ownership Breakdown

Institutional (non-HF)

31.71%

$72.8M

Hedge Funds

5.8%

$13.3M

Retail & Other

62.5%

$143.6M

Based on market cap of $229.7M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in FRGE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
R ROB Exploration LLC Institution	-	$27.3M 100.00% of portfolio	11.88% 1.6M shares	Q4 2022 Held for 2y 11m	$27.3M
B BlackRock, Inc. Institution	-	$11.1M 0.00% of portfolio	4.82% 655.0K shares	Q2 2022 Held for 3y 5m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$7.3M 0.00% of portfolio	3.19% 434.0K shares	Q2 2022 Held for 3y 5m	$6.69T
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	Gunjan Kedia CEO	$3.7M 0.00% of portfolio	1.63% 221.0K shares	Q4 2022 Held for 2y 11m	$84.3B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$3.6M 0.00% of portfolio	1.58% 215.3K shares	Q2 2022 Held for 3y 5m	$1.57T
A AWM Investment Company, Inc. Hedge Fund•Event Driven	David Michael Greenhouse President	$3.5M 0.33% of portfolio	1.52% 206.4K shares	Q4 2024 Held for 11 months	$1.1B
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$3.2M 0.00% of portfolio	1.39% 188.3K shares	Q4 2023 Held for 1y 11m	$121.98B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$3.0M 0.00% of portfolio	1.31% 177.9K shares	Q1 2022 Held for 3y 8m	$488.50B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$2.9M 0.00% of portfolio	1.26% 171.1K shares	Q1 2022 Held for 3y 8m	$2.88T
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	Anand Christopher Parekh CEO	$2.4M 0.01% of portfolio	1.07% 144.8K shares	Q1 2025 Held for 8 months	$33.0B

Net Capital Flow

Institutional buying and selling activity for FRGE in Q3 2025

Traded: +$1.0M
Buyers: 45
Sellers: 24
Total Bought: +$10.0M
Total Sold: −$9.0M
Avg Position: $978.9K

Biggest Buyers

Institution	Net Bought	Current Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$2.2M +129.6K shares	$3.2M 188.3K shares
Marshall Wace LLP Institution	+$1.2M +73.1K shares	$1.2M 73.1K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	+$1.0M +62.0K shares	$1.0M 62.0K shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	+$1.0M +61.8K shares	$1.0M 61.8K shares
BANK OF AMERICA CORP /DE/ Institution	+$523.3K +31.0K shares	$641.6K 38.0K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$488.4K +28.9K shares	$488.4K 28.9K shares
J JANE STREET GROUP, LLC Institution	+$442.2K +26.2K shares	$442.2K 26.2K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$427.7K +25.3K shares	$982.2K 58.1K shares
VANGUARD GROUP INC Institution	+$404.8K +24.0K shares	$7.3M 434.0K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$331.2K +19.6K shares	$986.6K 58.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
D Douglass Winthrop Advisors, LLC RIA/Wealth	−$5.6M −295.9K shares	Sold Off 0 shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	−$1.1M −65.2K shares	$2.4M 144.8K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	−$455.0K −23.9K shares	Sold Off 0 shares
Trexquant Investment LP Hedge Fund•Quant	−$333.0K −17.5K shares	Sold Off 0 shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$327.0K −17.2K shares	Sold Off 0 shares
UBS Group AG Institution	−$221.4K −13.1K shares	$232.7K 13.8K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	−$220.8K −11.6K shares	Sold Off 0 shares
B Brendel Financial Advisors LLC RIA/Wealth	−$208.7K −11.0K shares	Sold Off 0 shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	−$146.5K −8.7K shares	$3.7M 221.0K shares
MORGAN STANLEY RIA/Wealth	−$77.6K −4.6K shares	$198.8K 11.8K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited FRGE in Q3 2025

New Positions: 10
New Value: $1.1M
Exited Positions: 8
Exited Value: $7.2M

New Positions

Institution	Position Value
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	$1.0M 62.0K shares
Rockefeller Capital Management L.P. Long Only Manager	$32.6K 1.9K shares
A Advisory Services Network, LLC RIA/Wealth	$4.9K 292.0 shares
V Versant Capital Management, Inc RIA/Wealth	$4.1K 241.0 shares
O Optiver Holding B.V. Institution	$3.0K 176.0 shares
C Coconut Grove Bank Institution	$1.7K 100.0 shares
Point72 Ltd RIA/Wealth	$1.3K 75.0 shares
Hanson McClain, Inc. RIA/Wealth	$643.0 38.0 shares
ROTHSCHILD INVESTMENT LLC RIA/Wealth	$203.0 12.0 shares
Sunbelt Securities, Inc. RIA/Wealth	$34.0 2.0 shares

Exited Positions

Institution	Previous Position
D Douglass Winthrop Advisors, LLC RIA/Wealth	$5.6M 295.9K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	$455.0K 23.9K shares
Trexquant Investment LP Hedge Fund•Quant	$333.0K 17.5K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$327.0K 17.2K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	$220.8K 11.6K shares
B Brendel Financial Advisors LLC RIA/Wealth	$208.7K 11.0K shares
Valeo Financial Advisors, LLC RIA/Wealth	$38.3K 38.3K shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	$76.0 4.0 shares

Options Activity

Institutions with the largest Call and Put options positions in FRGE as of Q3 2025

Call Positions: 2
Call Value: $189.3K
Put Positions: 1
Put Value: $248.4K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$189.3K 112.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$248.4K 147.0 contracts

Most Committed Institutions

Institutions with FRGE as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
R ROB Exploration LLC Institution	-	100.00% $27.3M	11.88% 1.6M shares	Q4 2022 Held for 2y 11m	$27.3M
L LASRY MARC Institution	-	1.28% $192.0K	0.08% 11.4K shares	Q1 2022 Held for 3y 8m	$15.1M
A AWM Investment Company, Inc. Hedge Fund•Event Driven	David Michael Greenhouse President	0.33% $3.5M	1.52% 206.4K shares	Q4 2024 Held for 11 months	$1.1B
Abacus Wealth Partners, LLC RIA/Wealth	Neela Bushnell Hummel CEO	0.15% $1.1M	0.46% 62.9K shares	Q3 2022 Held for 3y 2m	$694.9M
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	William Dunning England CEO	0.01% $1.0M	0.45% 61.8K shares	Q3 2025 Held for 2 months	$11.2B
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	Anand Christopher Parekh CEO	0.01% $2.4M	1.07% 144.8K shares	Q1 2025 Held for 8 months	$33.0B
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	Gunjan Kedia CEO	0.00% $3.7M	1.63% 221.0K shares	Q4 2022 Held for 2y 11m	$84.3B
Susquehanna Portfolio Strategies, LLC Private Equity	-	0.00% $274.7K	0.12% 16.3K shares	Q2 2025 Held for 5 months	$6.3B
C Cubist Systematic Strategies, LLC Institution	-	0.00% $295.6K	0.13% 17.5K shares	Q3 2025 Held for 2 months	$7.1B
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	John Wyatt Ricketts President	0.00% $1.0M	0.46% 62.0K shares	Q3 2025 Held for 2 months	$31.7B

Hedge Fund Spotlight

Discover hedge funds investing in FRGE

Walleye Trading Advisors, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerWilliam Dunning England

Portfolio Value: $11.2B
Positions: 1,691
Last Reported: Q3 2025

Sector Allocation

Position in Forge Global Holdings

Market Value: $1.0M
Shares Held: 61.8K
Portfolio Weight: 0.01%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Nvidia NVDA	Semiconductors Technology	$463.8M	4.15%
2 Amazon AMZN	Specialty Retail Consumer Cyclical	$346.6M	3.10%
3 Tesla, Inc. TSLA	Auto - Manufacturers Consumer Cyclical	$288.5M	2.58%