Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

FIRST WATCH RESTAURANT GROUP (FWRG)

196 + Investors. Track Smart Money conviction in FWRG. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +22
Streak
5Q ▲
Buyers last Q
65%

Smart Money Signals — FWRG

Based on 190 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 5 quarters in a row

last 6Q
For 5 consecutive quarters, more hedge funds added FWRG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
190 hedge funds hold FWRG right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +40% more funds vs a year ago

fund count last 6Q
+54 new funds entered over the past year (+40% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 65% buying

133 buying72 selling
Last quarter: 133 funds were net buyers (43 opened a brand new position + 90 added to an existing one). Only 72 were sellers (51 trimmed + 21 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+14 vs last Q)

new funds entering per quarter
Funds opening a new FWRG position: 25 → 34 → 29 → 43. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 39% long-term, 27% new

■ 39% conviction (2yr+) ■ 34% medium ■ 27% new
Of the 190 current holders: 74 (39%) held >2 years, 65 held 1–2 years, and 51 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📈

Growing discovery — still being found

35 → 25 → 34 → 29 → 43 new funds/Q
New funds entering each quarter: 25 → 34 → 29 → 43. A growing number of institutions are discovering FWRG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 48% of holders stayed 2+ years

■ 48% veterans ■ 16% 1-2yr ■ 36% new
Of 196 current holders: 94 (48%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 36% AUM from major funds

36% from top-100 AUM funds
34 of 190 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — FWRG

In 2025 Q4, 133 hedge funds were net buyers of FWRG (43 opened a new position, 90 added to an existing one), while 72 reduced or exited (51 trimmed, 21 sold completely) — a 65% buyer ratio, indicating clear institutional accumulation. This marks 5 consecutive quarters of net institutional buying — a persistent conviction signal. 36% of total institutional value in FWRG is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +22 funds (more new holders than closures). Total institutional holders: 190.

Hedge Fund Ownership: FWRG

How many hedge funds hold FWRG — quarterly history vs. share price
Quarterly hedge fund ownership of FWRG vs. share price

Market Analysis: FWRG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FWRG

Consumer Cyclical Restaurants

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

33 top-rated funds 1 high-conviction
Consensus
6.6
/ 10
breadth
×
Elite
1.8
/ 10
conviction
Hedge Fund Positioning: FWRG
2026 Q1 Stats Unlock in 6 days 196 + Investors

Track Smart Money conviction in FWRG. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 196 173 13.29%
13F Shares 70M 73M -3.05%
Total Value $1.06B $1.14B -6.51%
New Positions 43 30 +13
Increased Positions 97 81 +16
Closed Positions 22 15 +7
Reduced Positions 60 53 +7
Total Calls 4 4 -
Total Puts 2 2 -
PUT/CALL Ratio 0.5 0.5 Bullish

Statistics: FWRG

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Institutional Holders (2026 Q1)

196 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in FWRG. Verified SEC 13F-HR filings.

Top 25 institutional holders of FWRG — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Avory & Company, LLC 3.45% 254,147 $2.7M
2 BWCP, LP 2.17% 1,358,073 $14.2M
3 Hodges Capital Management Inc. 1.29% 1,481,777 $15.5M
4 Penn Capital Management Company, LLC 0.93% 1,141,157 $12.0M
5 1492 Capital Management LLC 0.69% 172,938 $1.8M
6 First Dallas Securities Inc. 0.65% 166,750 $1.7M
7 RIVERBRIDGE PARTNERS LLC 0.54% 2,091,700 $21.9M
8 Paralel Advisors LLC 0.39% 900,000 $9.4M
9 EMERALD ADVISERS, LLC 0.31% 947,110 $9.9M
10 EMERALD MUTUAL FUND ADVISERS TRUST 0.29% 569,418 $6.0M
11 Stephens Investment Management Group LLC 0.24% 1,659,799 $17.4M
12 HUNTER ASSOCIATES INVESTMENT MANAGEMENT LLC 0.21% 151,970 $2K
13 GW&K Investment Management, LLC 0.18% 1,959,171 $21K
14 WHITE PINE CAPITAL LLC 0.12% 41,631 $436K
15 Champlain Investment Partners, LLC 0.10% 764,931 $8.0M
16 Accurate Wealth Management, LLC 0.09% 65,702 $754K
17 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.08% 126,462 $1.3M
18 MOODY NATIONAL BANK TRUST DIVISION 0.08% 81,579 $855K
19 KENNEDY CAPITAL MANAGEMENT LLC 0.07% 317,253 $3.3M
20 KORNITZER CAPITAL MANAGEMENT INC /KS 0.07% 310,837 $3.3M
21 SRH ADVISORS, LLC 0.06% 21,237 $223K
22 MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.05% 382,295 $4.0M
23 NBC SECURITIES, INC. 0.04% 50,162 $526K
24 WASATCH ADVISORS LP 0.03% 441,416 $4.6M
25 ROYCE & ASSOCIATES LP 0.03% 295,168 $3.1M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — FIRST WATCH RESTAURANT GROUP (FWRG)

What does the Smart Money Trend signal show for FWRG?

Buying streak — 5 quarters in a row: For 5 consecutive quarters, more hedge funds added FWRG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for FWRG?

More buyers than sellers — 65% buying: Last quarter: 133 funds were net buyers (43 opened a brand new position + 90 added to an existing one). Only 72 were sellers (51 trimmed + 21 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FWRG holders?

Strong quality — 36% AUM from major funds: 34 of 190 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held FWRG?

Mixed — 39% long-term, 27% new: Of the 190 current holders: 74 (39%) held >2 years, 65 held 1–2 years, and 51 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.