First Watch Restaurant Group
FWRG
206 hedge funds and large institutions have $842M invested in First Watch Restaurant Group in 2026 Q2 according to their latest regulatory filings, with 33 funds opening new positions, 91 increasing their positions, 61 reducing their positions, and 34 closing their positions.
49% more repeat investments, than reductions
Existing positions increased: 91 | Existing positions reduced: 61
19% more capital invested
Capital invested by funds: $709M → $842M (+$133M)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
3% less first-time investments, than exits
New positions opened: 33 | Existing positions closed: 34
2% less funds holding
Funds holding: 210 → 206 (-4)
4.58% less ownership
Funds ownership: 110.61% → 106.03% (-4.6%)
89% less call options, than puts
Call options by funds: $712K | Put options by funds: $6.53M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Balyasny Asset Management
Chicago,
Illinois
|
+$10.9M |
| 2 |
WP
Woodline Partners
San Francisco,
California
|
+$9.58M |
| 3 |
EA
Emerald Advisers
Leola,
Pennsylvania
|
+$6.8M |
| 4 |
WSL
Western Standard LLC
Los Angeles,
California
|
+$6.02M |
| 5 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$5.79M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$22.8M |
| 2 |
Neuberger Berman Group
New York
|
-$17.7M |
| 3 |
Millennium Management
New York
|
-$12.2M |
| 4 |
SAM
Silvercrest Asset Management
New York
|
-$11M |
| 5 |
Lazard Asset Management
New York
|
-$11M |
FWRG Hedge Fund Activity: Q2 2026 in Review
206 of the 8,349 institutional investors tracked by Wall St. Rank reported a position in First Watch Restaurant Group (FWRG) for Q2 2026, worth a combined $842M — up 19% from $709M a quarter earlier.
Sellers outnumbered buyers: 34 funds closed out of FWRG and 33 opened new positions — a net loss of 1 holder — while 61 trimmed existing stakes and 91 added.
The largest buyer was Balyasny Asset Management, adding an estimated $10.9M. The largest seller was Fidelity Investments, cutting an estimated $22.8M.
- 206 institutional investors held First Watch Restaurant Group (FWRG) as of Q2 2026, down from 210 in Q1 2026.
- Funds reported $842M of First Watch Restaurant Group stock for Q2 2026, up 19% quarter-over-quarter.
- 33 funds opened new First Watch Restaurant Group positions in Q2 2026 and 34 closed out, a net change of -1 holder.
- The largest First Watch Restaurant Group buyer in Q2 2026 was Balyasny Asset Management, an estimated $10.9M added.
- The largest First Watch Restaurant Group seller in Q2 2026 was Fidelity Investments, an estimated $22.8M sold.
Based on aggregated 13F filings for Q2 2026.