Emerald Mutual Fund Advisers Trust’s First Watch Restaurant Group FWRG Stock Holding History

Emerald Mutual Fund Advisers Trust’s Portfolio FWRG Stock Details FWRG Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$10.6M	Buy	823,954 +254,536	+45%	+$2.99M	0.37%	97
2026 Q1	$5.97M	Hold	569,418	–	–	0.29%	105
2025 Q4	$8.59M	Buy	569,418 +71,192	+14%	+$1.2M	0.42%	97
2025 Q3	$7.79M	Buy	498,226 +239,688	+93%	+$4.18M	0.4%	92
2025 Q2	$4.15M	Buy	+258,538	New	+$4.34M	0.25%	106

Other funds holding FWRG

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $128B AUM 35.83% 1-Year Est. Return

Bank of New York Mellon New York $609B AUM 40.19% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $552B AUM 44.19% 1-Year Est. Return

Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM

Millennium Management New York $276B AUM 44.8% 1-Year Est. Return

Neuberger Berman Group New York $150B AUM 40.08% 1-Year Est. Return

GKIM

GW&K Investment Management Boston, Massachusetts $12.8B AUM 48.82% 1-Year Est. Return

SIMG

Stephens Investment Management Group Houston, Texas $9.33B AUM 56.1% 1-Year Est. Return

HCM

Hodges Capital Management Dallas, Texas $1.51B AUM 85.85% 1-Year Est. Return

Emerald Mutual Fund Advisers Trust's FWRG Position: Q2 2026 in Review

Emerald Mutual Fund Advisers Trust increased its First Watch Restaurant Group (FWRG) stake by 45% in Q2 2026, buying an estimated $2.99M and bringing the position to 823,954 shares worth $10.6M. The position accounts for 0.37% of the portfolio, ranked #97.

Emerald Mutual Fund Advisers Trust first reported a position in FWRG in Q2 2025 and has held it in 5 quarters since. 206 funds tracked by Wall St. Rank hold FWRG as of Q2 2026.

Emerald Mutual Fund Advisers Trust held 823,954 shares of First Watch Restaurant Group worth $10.6M as of Q2 2026.
Emerald Mutual Fund Advisers Trust bought 254,536 First Watch Restaurant Group shares in Q2 2026, an estimated $2.99M.
First Watch Restaurant Group made up 0.37% of Emerald Mutual Fund Advisers Trust's portfolio in Q2 2026, its #97 holding.
Emerald Mutual Fund Advisers Trust first reported a position in First Watch Restaurant Group in Q2 2025 and has held it in 5 quarters since.
206 funds tracked by Wall St. Rank held First Watch Restaurant Group as of Q2 2026.

Based on Emerald Mutual Fund Advisers Trust's 13F filing for Q2 2026, filed 5 Aug 2026.