An orthopedic instrument for manipulating (e.g., compressing or distracting) one or more patient's bone fragments is disclosed. In one embodiment, the orthopedic instrument includes forceps having first and second arms and first and second handles, respectively. Each arm including a coupling mechanism for selectively engaging removable tips or bell housings. Each tip or bell housing including a first end arranged and configured to mate with a fastener hole or opening formed in a bone plate, a second end arranged and configured to receive a head portion of a bone fastener, and an intermediate portion arranged and configured to couple to the coupling mechanism of the first and second arms. In addition, the orthopedic instrument may include a force sensing mechanism or gauge arranged and configured to measure an amount of force being applied across the bone fracture.