FedEx Corporation (NYSE: FDX) is a global logistics and delivery company that transports millions of packages each day through its air, ground, and freight networks. The company has long been a cornerstone of global commerce, recently trading around $231 per share with a market cap of about $54.5 billion.
Once seen as a prime beneficiary of e-commerce growth, FedEx is now navigating slowing package volumes, rising costs, and tough competition in logistics. Despite these headwinds, it remains one of the most essential shipping networks in the world, with scale and infrastructure that are difficult to replicate.
Institutional investors still view FedEx as a key transportation play, supported by its strong brand, global routes, and founder alignment through Frederick W. Smith’s sizable stake. Sentiment, however, looks split, with some large active managers adding exposure and others pulling back.
For investors, checking the ownership side gives a clearer picture of whether FedEx is being seen as a comeback bet or a stock to approach more cautiously.
Who Are FedEx’s Top Shareholders?
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FedEx is mainly owned by large institutions. Passive index funds hold steady positions, while active managers have been moving in opposite directions.
- Vanguard Group: 20.6M shares (8.7%), ~$4.8B. Added ~204K (+1.0%).
- Frederick W. Smith (Founder): 17.1M shares (7.2%), ~$3.9B. No change.
- Dodge & Cox: 14.5M shares (6.1%), ~$3.3B. Added ~649K (+4.7%).
- BlackRock: 10.4M shares (4.4%), ~$2.4B. Small increase (+0.3%).
- PRIMECAP Management: 10.1M shares (4.3%), ~$2.3B. Cut ~1.8M (-15.4%).
- State Street: 9.3M shares (4.0%), ~$2.2B. Trimmed ~61K (-0.7%).
- Capital International Investors: 7.5M shares (3.2%), ~$1.7B. Reduced ~2.1M (-22.1%).
One highlight from last quarter is Squarepoint Ops LLC’s aggressive move, lifting its FedEx stake by 1,239% to about 808K shares worth $184 million. That kind of sharp increase looks like a strong bet on FedEx’s recovery potential.
Another notable move came from Paul Tudor Jones’ Tudor Investment, which boosted its position by 839% to over 12K shares valued at $2.8 million. While still a small holding, the size of the increase may reflect tactical confidence at these levels.
Cliff Asness’ AQR Capital Management also raised its stake dramatically, up more than 750% to roughly 1.02M shares worth $231 million. For a quant-driven fund, that scale of buying could suggest FedEx has become more attractive in systematic models.
Finally, Yan Huo’s Capula Management lifted its FedEx position by 329% to just under 1,000 shares worth $224K. The stake is small, but the percentage increase shows how even smaller funds have been leaning in.
FedEx has stability from the index fund giants, strong insider alignment with founder Fred Smith’s 7% stake, and a split verdict from active managers. Dodge & Cox looks more optimistic, while PRIMECAP and Capital International have stepped back.
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FedEx’s Recent Insider Trades
Insider trading activity can give investors clues about how a company’s own directors and executives view its stock. At FedEx, recent filings show that selling has outweighed buying, with several board members trimming their positions in July.
While the trades are relatively small compared to their overall ownership, they still offer a window into how leadership may be thinking about the stock at current levels.
Here are some recent insider sales:
- Robert Brad Martin (Director): Sold ~2,100 shares at ~$242 and another 3,600.
- Paul Steven Walsh (Director): Sold 3,600 shares at ~$238.
- Marvin R. Ellison (Director): Sold 3,600 shares at ~$237.
- Joshua Cooper Ramo (Director): Sold 3,600 shares at ~$232.
These look like modest disposals that could be tied to diversification or preset plans. There has not been meaningful insider buying, which may suggest leadership is not eager to add exposure at current prices.
For investors, small insider sales are not necessarily a red flag, but the absence of insider confidence buying could point to some hesitation.
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What the Ownership & Insider Trade Data Tell Us
FedEx’s shareholder base is anchored by passive giants like Vanguard, BlackRock, and State Street, which helps keep the stock broadly tied to global index flows. Founder Frederick W. Smith’s large stake adds strong insider alignment. Among active managers, Dodge & Cox’s increase may show selective confidence, while cuts from PRIMECAP and Capital International suggest caution.
Insider activity looks tilted toward sales, with no recent buying. This may reflect financial planning more than conviction, but the lack of insider accumulation does not point to strong confidence either.
Overall, the signals look mixed. FedEx remains widely held, with stability from index funds and long-term founder alignment, but selective fund reductions and insider selling suggest some caution.
Investors may be waiting for clearer signs of volume growth and margin improvement before showing stronger conviction in the stock.
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