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Noodles & Co
NDLS

44 hedge funds and large institutions have $12.8M invested in Noodles & Co in 2025 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 8 increasing their positions, 13 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.48% less ownership

Funds ownership: 5.36% → 4.88% (-0.48%)

6% less funds holding

Funds holding: 47 → 44 (-3)

38% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 8

38% less repeat investments, than reductions

Existing positions increased: 8 | Existing positions reduced: 13

40% less capital invested

Capital invested by funds: $21.3M → $12.8M (-$8.5M)

Holders
44
Holders Change
-3
Holders Change %
-6.38%
% of All Funds
0.58%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
8
Reduced
13
Closed
8
Calls
$146K
Puts
–
Net Calls
+$146K
Net Calls Change
+$123K

Top Buyers

Rank Fund Capital Flow
1
Renaissance Technologies
Renaissance Technologies
New York
+$140K
2
Citadel Advisors
Citadel Advisors
Florida
+$85.1K
3
VF
Virtu Financial
New York
+$13.1K
4
TRCT
Tower Research Capital (TRC)
New York
+$12.8K
5
TSS
Two Sigma Securities
New York
+$11.7K

Top Sellers

Rank Fund Capital Flow
1
RA
Royce & Associates
New York
-$939K
2
ACM
Archon Capital Management
Washington
-$543K
3
BlackRock
BlackRock
New York
-$84.7K
4
TCWM
Total Clarity Wealth Management
Illinois
-$83.4K
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$55.9K
Name Holding Trade Value Shares
Change 		Change in
Stake
MRCM
1
Mill Road Capital Management
Connecticut
$4.96M – – –
NCM
2
Nantahala Capital Management
Connecticut
$3.21M – – –
Vanguard Group
3
Vanguard Group
Pennsylvania
$1.51M – – –
Fidelity Investments
4
Fidelity Investments
Massachusetts
$1.22M -$39.9K -5,714 -3%
BlackRock
5
BlackRock
New York
$370K -$84.7K -12,129 -16%
Geode Capital Management
6
Geode Capital Management
Massachusetts
$258K -$971 -139 -0.3%
Creative Planning
7
Creative Planning
Kansas
$147K +$251 +36 +0.1%
Renaissance Technologies
8
Renaissance Technologies
New York
$138K +$140K +20,069 +489%
Millennium Management
9
Millennium Management
New York
$131K -$26K -3,725 -14%
State Street
10
State Street
Massachusetts
$98.9K – – –
Arrowstreet Capital
11
Arrowstreet Capital
Massachusetts
$98.3K – – –
Citadel Advisors
12
Citadel Advisors
Florida
$88.5K +$85.1K +12,181 +366%
Goldman Sachs
13
Goldman Sachs
New York
$59K -$24.4K -3,487 -25%
Invesco
14
Invesco
Georgia
$56.7K -$39.7K -5,690 -36%
BCM
15
Bridgeway Capital Management
Texas
$52.1K – – –
Northern Trust
16
Northern Trust
Illinois
$45K – – –
Barclays
17
Barclays
United Kingdom
$41.5K – – –
ACM
18
Archon Capital Management
Washington
$32.2K -$543K -77,721 -93%
Morgan Stanley
19
Morgan Stanley
New York
$26K +$1.24K +177 +4%
CGA
20
Crescent Grove Advisors
Illinois
$25K – – –
QOP
21
Quinn Opportunity Partners
Virginia
$24.9K – – –
Jane Street
22
Jane Street
New York
$23.6K -$4.11K -589 -12%
US Bancorp
23
US Bancorp
Minnesota
$20.7K – – –
XT
24
XTX Topco
Cayman Islands
$19.3K -$1.09K -156 -4%
HSBC Holdings
25
HSBC Holdings
United Kingdom
$19K – – –
1
2 3

NDLS Hedge Fund Activity: Q2 2025 in Review

44 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Noodles & Co (NDLS) for Q2 2025, worth a combined $12.8M — down 40% from $21.3M a quarter earlier.

Sellers outnumbered buyers: 8 funds closed out of NDLS and 5 opened new positions — a net loss of 3 holders — while 13 trimmed existing stakes and 8 added.

The largest buyer was Renaissance Technologies, adding an estimated $140K. The largest seller was Royce & Associates, exiting entirely with an estimated $939K sold.

  • 44 institutional investors held Noodles & Co (NDLS) as of Q2 2025, down from 47 in Q1 2025.
  • Funds reported $12.8M of Noodles & Co stock for Q2 2025, down 40% quarter-over-quarter.
  • 5 funds opened new Noodles & Co positions in Q2 2025 and 8 closed out, a net change of -3 holders.
  • The largest Noodles & Co buyer in Q2 2025 was Renaissance Technologies, an estimated $140K added.
  • The largest Noodles & Co seller in Q2 2025 was Royce & Associates, an estimated $939K sold.

Based on aggregated 13F filings for Q2 2025.