First Watch Restaurant Group
FWRG
184 hedge funds and large institutions have $1.14B invested in First Watch Restaurant Group in 2025 Q3 according to their latest regulatory filings, with 31 funds opening new positions, 80 increasing their positions, 46 reducing their positions, and 11 closing their positions.
182% more first-time investments, than exits
New positions opened: 31 | Existing positions closed: 11
181% more call options, than puts
Call options by funds: $3.64M | Put options by funds: $1.3M
74% more repeat investments, than reductions
Existing positions increased: 80 | Existing positions reduced: 46
12% more funds holding
Funds holding: 165 → 184 (+19)
4.76% more ownership
Funds ownership: 114.2% → 118.96% (+4.8%)
2% more capital invested
Capital invested by funds: $1.12B → $1.14B (+$18.2M)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of New York Mellon
New York
|
+$26.7M |
| 2 |
Citadel Advisors
Miami,
Florida
|
+$25.7M |
| 3 |
WP
Woodline Partners
San Francisco,
California
|
+$22.6M |
| 4 |
Goldman Sachs
New York
|
+$20M |
| 5 |
Balyasny Asset Management
Chicago,
Illinois
|
+$13.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AI
Advent International
Boston,
Massachusetts
|
-$164M |
| 2 |
Manulife (Manufacturers Life Insurance)
Canada,
Ontario, Canada
|
-$10.2M |
| 3 |
UBS AM
Chicago,
Illinois
|
-$6.25M |
| 4 |
AC
Armistice Capital
New York
|
-$5.61M |
| 5 |
JP Morgan Chase
New York
|
-$4.12M |
FWRG Hedge Fund Activity: Q3 2025 in Review
184 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in First Watch Restaurant Group (FWRG) for Q3 2025, worth a combined $1.14B — up 1.6% from $1.12B a quarter earlier.
Buyers outnumbered sellers: 31 funds opened new FWRG positions and 11 closed out — a net gain of 20 holders — while 80 added to existing stakes and 46 trimmed.
The largest buyer was Bank of New York Mellon, adding an estimated $26.7M. The largest seller was Advent International, cutting an estimated $164M.
- 184 institutional investors held First Watch Restaurant Group (FWRG) as of Q3 2025, up from 165 in Q2 2025.
- Funds reported $1.14B of First Watch Restaurant Group stock for Q3 2025, up 1.6% quarter-over-quarter.
- 31 funds opened new First Watch Restaurant Group positions in Q3 2025 and 11 closed out, a net change of +20 holders.
- The largest First Watch Restaurant Group buyer in Q3 2025 was Bank of New York Mellon, an estimated $26.7M added.
- The largest First Watch Restaurant Group seller in Q3 2025 was Advent International, an estimated $164M sold.
Based on aggregated 13F filings for Q3 2025.