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First Watch Restaurant Group, Inc.: which funds bought and sold

Institutions that bought and sold First Watch Restaurant Group shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 119 institutions that filed 13F reports for both quarters added to or opened positions in First Watch Restaurant Group, and 94 cut or closed them. Together they sold a net 2.4M shares, −3.6% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 4.2M shares (−19.5%); index fund managers were net buyers of 965K shares (+8.9%). 31 opened a new position and 33 sold out entirely.

Bought, Q2 2026 119 institutions, 31 of them new holders Sold, Q2 2026 94 institutions, 33 of them sold out
Net change, all compared −2.4M shares (−3.6%)
Net change, active managers −4.2M shares (−19.5%), 26 bought, 24 sold

Buyers versus sellers

institutions compared, 234
Active managers and hedge funds 26 bought · 24 sold · −4.2M
Index fund managers 7 bought · 2 sold · +965K
Other institutions 86 bought · 68 sold · +828K

Biggest buyers

by change in shares held
Institution Change in shares Shares June 30, 2026 Value
Balyasny Asset Management L.P. Hedge fund +931K +331.2% 1.2M $15.6M
Woodline Partners LP Hedge fund +817K New position 817K $10.5M
Emerald Advisers, LLC +580K +61.2% 1.5M $19.7M
Western Standard LLC +513K New position 513K $6.6M
Qube Research & Technologies Ltd Hedge fund +493K +100.9% 982K $12.7M
Manufacturers Life Insurance Company, The +466K +13.9% 3.8M $49.3M
Jane Street Group, LLC +463K New position 463K $6M
Blackrock, Inc. Index funds +462K +11.4% 4.5M $58.4M
Nomura Holdings Inc +438K +114.5% 821K $10.6M
AQR Capital Management LLC Hedge fund +399K +406.4% 497K $6.4M
Hudson Bay Capital Management LP Hedge fund +354K New position 354K $4.6M
Penn Capital Management Company, LLC Active manager +332K +29.1% 1.5M $19M
Stephens Investment Management Group LLC +294K +17.7% 2.0M $25.2M
Granahan Investment Management, LLC +276K +25.3% 1.4M $17.6M
Royce & Associates LP Active manager +261K +88.5% 556K $7.2M
Emerald Mutual Fund Advisers Trust +255K +44.7% 824K $10.6M
Verition Fund Management LLC Hedge fund +220K New position 220K $2.8M
Panagora Asset Management Inc Active manager +219K New position 219K $2.8M
State Street Corp Index funds +211K +17.7% 1.4M $18.1M
Tudor Investment Corp Et Al Hedge fund +211K +274.0% 288K $3.7M

Biggest sellers

by change in shares held
Institution Change in shares Shares June 30, 2026 Value
FMR LLC Active manager −1.9M −97.5% 51K $655,237
Neuberger Berman Group LLC Active manager −1.5M −42.1% 2.1M $26.7M
Silvercrest Asset Management Group LLC −1.0M Sold out 0 —
Millennium Management LLC Hedge fund −1.0M −32.2% 2.2M $28.3M
Lazard Asset Management LLC Active manager −935K −52.5% 846K $10.9M
Morgan Stanley −752K −51.5% 708K $9.1M
Riverbridge Partners LLC Active manager −743K −35.5% 1.3M $17.4M
Fred Alger Management, LLC Active manager −633K −66.1% 324K $4.2M
Gilder Gagnon Howe & Co LLC Active manager −624K −84.2% 117K $1.5M
Susquehanna International Group, LLP −578K −93.9% 38K $486,030
Federated Hermes, Inc. Active manager −524K Sold out 0 —
Dimensional Fund Advisors LP −488K −15.8% 2.6M $33.5M
Wasatch Advisors LP Active manager −441K Sold out 0 —
UBS Group AG −378K −39.6% 577K $7.4M
First Trust Advisors LP −322K −92.9% 25K $316,797
Loomis Sayles & Co L P Active manager −312K Sold out 0 —
Bank Of New York Mellon Corp −239K −6.0% 3.7M $47.9M
Arrowmark Colorado Holdings LLC −173K −34.8% 324K $4.2M
Congress Asset Management Co Active manager −141K Sold out 0 —
Mutual Of America Capital Management LLC −138K −36.1% 244K $3.1M

New positions

largest by value
InstitutionSharesValue June 30, 2026
Woodline Partners LPHedge fund 817K $10.5M
Western Standard LLC 513K $6.6M
Jane Street Group, LLC 463K $6M
Hudson Bay Capital Management LPHedge fund 354K $4.6M
Verition Fund Management LLCHedge fund 220K $2.8M
Panagora Asset Management IncActive manager 219K $2.8M
Bridgeway Capital Management, LLCActive manager 150K $1.9M
Jefferies Financial Group Inc. 51K $659,968
Ieq Capital, LLC 43K $557,996
Jump Financial, LLC 31K $397,012

Sold out

largest by value
InstitutionSharesValue March 31, 2026
Silvercrest Asset Management Group LLC 1.0M $11M
Federated Hermes, Inc.Active manager 524K $5.5M
Wasatch Advisors LPActive manager 441K $4.6M
Loomis Sayles & Co L PActive manager 312K $3.3M
Congress Asset Management CoActive manager 141K $1.5M
Lighthouse Investment Partners, LLCHedge fund 63K $656,824
Mangrove Partners Im, LLCHedge fund 46K $480,288
Y-Intercept (Hong Kong) Ltd 41K $428,077
Exoduspoint Capital Management, LPHedge fund 40K $419,368
State Of Wisconsin Investment Board 38K $399,550

Who holds the shares

13F holdings at June 30, 2026
Institutions reporting
204
Ten largest holders
41.4%
of 13F-reported shares
Index fund managers
18.1%
of 13F-reported shares
Active managers and hedge funds
26.9%
of 13F-reported shares
Buying and selling by type of institution, March 31, 2026 to June 30, 2026
TypeBoughtSoldNewSold outNet change in sharesNet %
Active managers and hedge funds 26 24 7 9 −4.2M −19.5%
Index fund managers 7 2 0 0 +965K +8.9%
Other institutions 86 68 24 24 +828K +2.4%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

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