FWRG Hedge Fund Ownership (Q1 2026)

First Watch Restaurant Group (FWRG)

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

Smart Money Signals — FWRG

Based on 208 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 6 quarters in a row

last 6Q

For 6 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

208 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 — +36% more funds vs a year ago

fund count last 6Q

+55 new funds entered over the past year (+36% 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.

🟡

Slight buying edge — 55% buying

131 buying109 selling

Last quarter: 131 funds bought or added vs 109 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

📈

More new buyers each quarter (+7 vs last Q)

new funds entering per quarter

Funds opening a new FWRG position: 36 → 29 → 44 → 51. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.

📌

Mixed — 34% long-term, 31% new

■ 34% conviction (2yr+) ■ 35% medium ■ 31% new

Of the 208 current holders: 71 (34%) held >2 years, 72 held 1–2 years, and 65 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.

💎

Buying through price weakness — shares -4%, value -35%

Value

-35%

-3%

Last quarter: funds added -4% more shares while total portfolio value only changed -35%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

📈

Growing discovery — still being found

27 → 36 → 29 → 44 → 51 new funds/Q

New funds entering each quarter: 36 → 29 → 44 → 51. A growing number of institutions are discovering FWRG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🏛️

Veteran-anchored — 42% veterans vs 36% newcomers

■ 42% veterans ■ 23% 1-2yr ■ 36% new

Entry-cohort mix of 213 holders: 89 (42%) are 2+ year veterans, 48 entered 1–2 years ago, and 76 (36%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

🏆

Elite ownership — 53% AUM from top-100 funds

53% from top-100 AUM funds

44 of 206 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in FWRG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

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.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	205	203	0.99%
13F Shares	68M	71M	-3.87%
Total Value	$687M	$1.06B	-35.44%
New Positions	48	44	+4
Increased Positions	77	93	-16
Closed Positions	46	21	+25
Reduced Positions	61	53	+8
Total Calls	3	4	-25.0%
Total Puts	4	2	100.0%
PUT/CALL Ratio	1.33	0.5	Bearish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

205

203

0.99%

13F Shares

68M

71M

-3.87%

Total Value

$687M

$1.06B

-35.44%

New Positions

Increased Positions

-16

Closed Positions

+25

Reduced Positions

Total Calls

-25.0%

Total Puts

100.0%

PUT/CALL Ratio

1.33

0.5

Bearish

Institutional Holders (2026 Q2)

205 + investors

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

QUARTER:

2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 FWRG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Avory & Company, LLC	3.68%	228,237	$2.9M
2	Bwcp, LP	2.77%	1,502,614	$19.4M
3	Western Standard LLC	2.24%	513,240	$6.6M
4	Hodges Capital Management Inc.	1.36%	1,592,384	$20.5M
5	Penn Capital Management Company, LLC	1.21%	1,472,751	$19.0M
6	First Dallas Securities Inc.	0.76%	177,250	$2.3M
7	Access Investment Management LLC	0.70%	212,719	$2.7M
8	1492 Capital Management LLC	0.65%	170,147	$2.2M
9	Granahan Investment Management, LLC	0.63%	1,363,852	$17.6M
10	Riverbridge Partners LLC	0.49%	1,348,632	$17.4M
11	Emerald Advisers, LLC	0.46%	1,526,759	$19.7M
12	Paralel Advisors LLC	0.45%	900,000	$11.6M
13	Crawford Fund Management, LLC	0.43%	218,800	$2.8M
14	Emerald Mutual Fund Advisers Trust	0.37%	823,954	$10.6M
15	VARCOV Co.	0.33%	66,622	$859K
16	Stephens Investment Management Group LLC	0.27%	1,953,921	$25.2M
17	Landscape Capital Management, L.L.C.	0.26%	314,117	$4.0M
18	Champlain Investment Partners, LLC	0.25%	745,333	$9.6M
19	Diametric Capital, LP	0.23%	165,674	$2.1M
20	White Pine Capital LLC	0.22%	72,747	$938K
21	ArrowMark Colorado Holdings LLC	0.17%	324,343	$4.2M
22	Moody National Bank Trust Division	0.12%	112,679	$1.5M
23	Manatuck Hill Partners, LLC	0.12%	28,100	$362K
24	Rice Hall James & Associates, LLC	0.09%	138,372	$1.8M
25	Kornitzer Capital Management Inc /Ks	0.08%	310,837	$4.0M

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 — 6 quarters in a row: For 6 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?

Slight buying edge — 55% buying: Last quarter: 131 funds bought or added vs 109 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for FWRG holders?

Elite ownership — 53% AUM from top-100 funds: 44 of 206 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in FWRG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held FWRG?

Mixed — 34% long-term, 31% new: Of the 208 current holders: 71 (34%) held >2 years, 72 held 1–2 years, and 65 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.

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First Watch Restaurant Group (FWRG)

Smart Money Signals — FWRG

Buying streak — 6 quarters in a row

At the ownership peak (100% of max)

Fast accumulation — +36% more funds vs a year ago

Slight buying edge — 55% buying

More new buyers each quarter (+7 vs last Q)

Mixed — 34% long-term, 31% new

Buying through price weakness — shares -4%, value -35%

Growing discovery — still being found

Veteran-anchored — 42% veterans vs 36% newcomers

Elite ownership — 53% AUM from top-100 funds

Institutional Sentiment Summary — FWRG

Hedge Fund Ownership: FWRG

Market Analysis: FWRG

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: FWRG

Hedge Fund Positioning: FWRG

Statistics: FWRG

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — First Watch Restaurant Group (FWRG)

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