First Watch Restaurant Group
FWRG
157 hedge funds and large institutions have $1.18B invested in First Watch Restaurant Group in 2025 Q1 according to their latest regulatory filings, with 25 funds opening new positions, 71 increasing their positions, 41 reducing their positions, and 20 closing their positions.
73% more repeat investments, than reductions
Existing positions increased: 71 | Existing positions reduced: 41
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
25% more first-time investments, than exits
New positions opened: 25 | Existing positions closed: 20
16% more call options, than puts
Call options by funds: $320K | Put options by funds: $275K
3.75% more ownership
Funds ownership: 112.63% → 116.38% (+3.7%)
2% more funds holding
Funds holding: 154 → 157 (+3)
7% less capital invested
Capital invested by funds: $1.27B → $1.18B (-$93M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$39M |
| 2 |
MIM
MetLife Investment Management
Whippany,
New Jersey
|
+$15.7M |
| 3 |
Marshall Wace
London,
United Kingdom
|
+$13.1M |
| 4 |
SAM
Silvercrest Asset Management
New York
|
+$12.1M |
| 5 |
Neuberger Berman Group
New York
|
+$7.07M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
-$10.3M |
| 2 |
1WCM
12 West Capital Management
New York
|
-$10.1M |
| 3 |
CIP
Champlain Investment Partners
Burlington,
Vermont
|
-$9.49M |
| 4 |
AC
Armistice Capital
New York
|
-$6.98M |
| 5 |
Squarepoint
New York
|
-$4.16M |
FWRG Hedge Fund Activity: Q1 2025 in Review
157 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in First Watch Restaurant Group (FWRG) for Q1 2025, worth a combined $1.18B — down 7.3% from $1.27B a quarter earlier.
Buyers outnumbered sellers: 25 funds opened new FWRG positions and 20 closed out — a net gain of 5 holders — while 71 added to existing stakes and 41 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $39M. The largest seller was Citadel Advisors, cutting an estimated $10.3M.
- 157 institutional investors held First Watch Restaurant Group (FWRG) as of Q1 2025, up from 154 in Q4 2024.
- Funds reported $1.18B of First Watch Restaurant Group stock for Q1 2025, down 7.3% quarter-over-quarter.
- 25 funds opened new First Watch Restaurant Group positions in Q1 2025 and 20 closed out, a net change of +5 holders.
- The largest First Watch Restaurant Group buyer in Q1 2025 was Fidelity Investments, an estimated $39M added.
- The largest First Watch Restaurant Group seller in Q1 2025 was Citadel Advisors, an estimated $10.3M sold.
Based on aggregated 13F filings for Q1 2025.