Frontline (FRO): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
3 concentrated managers hold it (+2 vs last quarter); combined they have held more shares for 3 quarters in a row (1 added, 0 trimmed). Its median weight in those portfolios is 0.5%.
Who owns Frontline?
Holders reporting more than 5% of the shares to the SEC (Schedules 13D/13G): Hemen Holding, 35.6% (13D/A filed Mar 27, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were FMR (3.1% of the shares), Arrowstreet Capital, Limited Partnership (3.0%) and Vanguard Capital Management (2.0%).
Which institutions hold the most Frontline shares?
Per Form 13F filings as of Jun 30, 2026, as a share of all shares outstanding:
- 1. FMR: 3.1%
- 2. Arrowstreet Capital, Limited Partnership: 3.0%
- 3. Vanguard Capital Management: 2.0%
- 4. JPMorgan Chase: 1.4%
- 5. Two Sigma Investments: 1.4%
- 6. UBS Group: 1.1%
- 7. Acadian Asset Management: 0.9%
- 8. Keystone Investors PTE: 0.8%
- 9. Barclays: 0.8%
- 10. Goldman Sachs Group: 0.7%
How much of Frontline do institutions own?
The 259 institutions that file 13F reported 29.0% of the shares as of Jun 30, 2026.
Sources:13D/A by Hemen Holding (Mar 27, 2026) ↗All of the company's proxy statements on EDGAR ↗
13F percentages divide the shares each institution reports by the shares outstanding on the cover of the company's latest report before the quarter end (Dec 31, 2025). Entities of the same group file separately and are not added up. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Frontline revenue
Frontline reported annual revenue of $1.97 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 20-F filed with the SEC (XBRL data).
Quarter flow (concentrated managers)
Change in managers (1 → 3): 1 opened · 0 exited · 1 more with no comparable data = +2
“No comparable data”: managers whose previous-quarter portfolio we cannot compare (first 13F, or they did not file that quarter), plus spin-offs and corporate exits (mergers, delistings). They change the count without being a clean buy or sale. It is a net figure: “more” when more of them enter the count than leave it, “fewer” when it is the other way round. Here: 1 entered with no comparable quarter.
Net flow in the quarter: +$10.2M (+292 K shares) · bought $10.2M and sold $0Shares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
Accumulation: combined they have held more shares for 3 quarters in a row (1 added, 0 trimmed). It is the combined share count of those still holding it: one large buyer can outweigh many who trimmed.
Concentrated managers holding it
- Keystone Investors PTENo comparable data$65.2M3.5%+3.5 pp
- Smead Capital ManagementIncreased$22.0M0.5%+0.0 pp
- Evergreen Quality Fund GPNew$9.4M0.2%+0.2 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Largest holders of FRO (all 13F filers)
- FMR6.9 MInvestment firm+6.0 M
- Arrowstreet Capital, Limited Partnership6.7 MQuant or multi-manager+923 K
- Vanguard Capital Management4.5 MIndex manager+682
- JPMorgan Chase3.1 MBank or trading desk+271 K
- Two Sigma Investments3.1 MQuant or multi-manager−62 K
- UBS Group2.4 MBank or trading desk−122 K
- Acadian Asset Management2.1 MQuant or multi-manager+1.1 M
- Keystone Investors PTEconcentrated1.9 MInvestment firmno data
- Barclays1.7 MBank or trading desk−798 K
- Goldman Sachs Group1.6 MBank or trading desk+645 K
- Shares
- 6.9 M
- Change
- +6.0 M
See more
- Type
- Investment firm
- Value
- $240M
- Shares
- 6.7 M
- Change
- +923 K
See more
- Type
- Quant or multi-manager
- Value
- $233M
- Shares
- 4.5 M
- Change
- +682
See more
- Type
- Index manager
- Value
- $156M
- Shares
- 3.1 M
- Change
- +271 K
See more
- Type
- Bank or trading desk
- Value
- $111M
- Shares
- 3.1 M
- Change
- −62 K
See more
- Type
- Quant or multi-manager
- Value
- $108M
- Shares
- 2.4 M
- Change
- −122 K
See more
- Type
- Bank or trading desk
- Value
- $83.2M
- Shares
- 2.1 M
- Change
- +1.1 M
See more
- Type
- Quant or multi-manager
- Value
- $71.9M
- Keystone Investors PTEconcentrated
- Shares
- 1.9 M
- Change
- no data
See more
- Type
- Investment firm
- Value
- $65.2M
- Shares
- 1.7 M
- Change
- −798 K
See more
- Type
- Bank or trading desk
- Value
- $60.2M
- Shares
- 1.6 M
- Change
- +645 K
See more
- Type
- Bank or trading desk
- Value
- $56.9M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Held by institutions (13F)
Institutions (13F): 29.0% of the shares · top 10: 15.3% · in index firms: 12.3% of the institutional total
Q2 2026: 29.0%
Shares reported by the 259 13F filers as of Jun 30, 2026, divided by the shares outstanding on the cover of the company's latest report (Dec 31, 2025). It is not all institutional ownership: only managers above $100M file a 13F, and it excludes short positions. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. We only publish it where the figure is credible: not for ADRs, companies with more than one share class or stale shares-outstanding data.
Fundamentals
Fiscal 2025 figures (annual report on Form 20-F, IFRS accounting standards) · balance sheet as of Dec 31, 2025.
- Operating margin
- 30.4%
- Net margin
- 19.2%
- ROE
- 15.1%
- Revenue (TTM)
- $2.0 bn
- Revenue growth
- -8.8%
- Net income (TTM)
- $379M
- Net debt / EBITDA
- —
- Free cash flow (TTM)
- $670M
- Quality vs sector
- —
Figures come from the latest annual report: we do not compare them with its sector's, which are 12-month figures to the latest quarter. Debt includes leases: under IFRS 16 they are all on the balance sheet and their cost sits outside EBITDA.
This company's sector comes from its SIC code, unreviewed, or has too few comparable companies: we do not compare it with its sector.
Figures from the statements the company filed with the SEC (20-F). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Shares outstanding: buybacks and dilution
2025: 222.6 M
- 1 year
- 0.0%
- 3 years
- +4.0%
- 5 years
- no data
- Buybacks (FY 2025)
- no data
- Share issuance
- no data
- Stock-based compensation
- $5.6M0.3% of revenue
- Dividends paid
- $207M
From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- 1.80
- Interest coverage (operating income ÷ interest)
- no data
- Debt due within 12 months
- $321M1.28 times cash and investments
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
- Folketrygdfondet4.5%(fell below 5%)13G · amendmentfiling ↗Event: Jun 30, 2026 · filed: Aug 13, 2026
- Hemen Holding35.6%13D · amendmentfiling ↗Event: Feb 27, 2026 · filed: Mar 27, 2026
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
This company filed no 8-K forms in the last year. Foreign companies listed in the US (ADRs) report material events on forms 6-K and 20-F, and ETFs and funds do not file 8-Ks. If it is a foreign company listed in the US through ADRs (American Depositary Receipts), what trades are bank-issued certificates that represent shares from its home market. See its filings on EDGAR ↗
Other Industrials stocks in managers' portfolios
Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.
- Madison Air SolutionsMAIR · 5 managers
- X-EnergyXE · 6 managers
- VestisVSTS · 7 managers
- Fortune Brands InnovationsFBIN · 8 managers
- Southwest AirlinesLUV · 8 managers
- C.h. Robinson WorldwideCHRW · 11 managers