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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.

New
Increased
Maintained
Reduced
Closed

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)

Holders
157
Holders Change
+3
Holders Change %
+1.95%
% of All Funds
2.11%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
25
Increased
71
Reduced
41
Closed
20
Calls
$320K
Puts
$275K
Net Calls
+$45K
Net Calls Change
-$635K

Top Buyers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
+$39M
2
MIM
MetLife Investment Management
New Jersey
+$15.7M
3
Marshall Wace
Marshall Wace
United Kingdom
+$13.1M
4
SAM
Silvercrest Asset Management
New York
+$12.1M
5
Neuberger Berman Group
Neuberger Berman Group
New York
+$7.07M

Top Sellers

Rank Fund Capital Flow
1
Citadel Advisors
Citadel Advisors
Florida
-$10.3M
2
1WCM
12 West Capital Management
New York
-$10.1M
3
CIP
Champlain Investment Partners
Vermont
-$9.49M
4
AC
Armistice Capital
New York
-$6.98M
5
Squarepoint
Squarepoint
New York
-$4.16M
Name Holding Trade Value Shares
Change 		Change in
Stake
SC
151
Stephens Consulting
Michigan
$333 +$385 +20 New
Fifth Third Bancorp
152
Fifth Third Bancorp
Ohio
$316 -$347 -18 -49%
PA
153
Parallel Advisors
California
$283 +$231 +12 +240%
LC
154
Lindbrook Capital
California
$133 +$154 +8 New
BIG
155
Brooklyn Investment Group
New York
$67 +$77 +4 New
National Bank of Canada
156
National Bank of Canada
Quebec, Canada
$50 +$58 +3 New
AC
157
Armistice Capital
New York
– -$6.98M -375,000 Closed
Point72 Asset Management
158
Point72 Asset Management
Connecticut
– -$2.61M -140,098 Closed
PAM
159
Pamalican Asset Management
Hong Kong
– -$910K -48,896 Closed
M&T Bank
160
M&T Bank
New York
– -$846K -45,415 Closed
Verition Fund Management
161
Verition Fund Management
Connecticut
– -$755K -40,574 Closed
BCM
162
Bayesian Capital Management
New York
– -$604K -32,469 Closed
Jane Street
163
Jane Street
New York
– -$568K -30,519 Closed
HF
164
HRT Financial
New York
– -$457K -24,567 Closed
Cerity Partners
165
Cerity Partners
New York
– -$308K -16,672 Closed
Natixis Advisors
166
Natixis Advisors
Massachusetts
– -$226K -12,145 Closed
BHCM
167
Brevan Howard Capital Management
Jersey
– -$221K -11,865 Closed
VI
168
Versor Investments
New York
– -$214K -11,500 Closed
CC
169
Centiva Capital
New York
– -$205K -10,990 Closed
CAPTRUST Financial Advisors
170
CAPTRUST Financial Advisors
North Carolina
– -$190K -10,193 Closed
VWM
171
Venturi Wealth Management
Texas
– -$81.4K -4,375 Closed
WTC
172
WhitTier Trust Company
Nevada
– -$51.1K -2,745 Closed
MCM
173
Mainstream Capital Management
California
– -$12.8K -686 Closed
JFGIW
174
Johnson Financial Group Inc (Wisconsin)
Wisconsin
– -$5.52K -263 Closed
QL
175
Quarry LP
New York
– -$1.21K -65 Closed
4 5 6
7
8

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.