FWRG Institutional Ownership
First Watch Restaurant Group, Inc.
1W: -7.3%
1M: +9.3%
3M: -16.0%
YTD: -27.9%
1Y: -39.4%
3Y: -36.5%
5Y: -47.8%
$11.09
+0.03 (+0.27%)
Weekly Expected Move ±7.6%
$9
$10
$11
$12
$13
Credit Risk of going bust: higher than 67% of companies Debt: 61.1% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.49 (down 96%), First Watch Restaurant Group, Inc. would be worth roughly what it owes.
Total debt $1.07B against a stock market value of $684.4M.
Distance to default 3.62 (Merton model): prices to 2026-10-27, balance sheet 2026-06-28, debt counted $153.7M (short-term plus half of long-term), stock volatility 54.7%; Altman Z'' 0.10. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
If the stock fell to about $0.49 (down 96%), First Watch Restaurant Group, Inc. would be worth roughly what it owes.
Total debt $1.07B against a stock market value of $684.4M.
Distance to default 3.62 (Merton model): prices to 2026-10-27, balance sheet 2026-06-28, debt counted $153.7M (short-term plus half of long-term), stock volatility 54.7%; Altman Z'' 0.10. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
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Institutional Ownership — FWRG
242
Institutional Holders
-12 vs prior quarter
0.0%
Ownership
+0.00pp
$842M
Total Invested
35
New Positions
89
Increased
96
Reduced
35
Closed
1.33
Put/Call Ratio
Ownership Trends
Top Institutional Holders (278 total)
| # | Holder | Shares | Value | Change | Change % | Holding Period | Filing |
|---|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 4,534,132 | $50M | +462,387 | +11.4% | 8Q | SEC ↗ |
| 2 | MANUFACTURERS LIFE INSURANCE COMPANY, | 3,823,982 | $42M | +466,032 | +13.9% | 13Q | SEC ↗ |
| 3 | Bank of New York Mellon Corp | 3,719,038 | $41M | -238,659 | -6.0% | 19Q | SEC ↗ |
| 4 | DIMENSIONAL FUND ADVISORS LP | 2,596,946 | $29M | -487,940 | -15.8% | 14Q | SEC ↗ |
| 5 | VANGUARD CAPITAL MANAGEMENT LLC | 2,453,594 | $27M | +51,206 | +2.1% | 2Q | SEC ↗ |
| 6 | MILLENNIUM MANAGEMENT LLC | 2,192,811 | $24M | -1,039,436 | -32.2% | 6Q | SEC ↗ |
| 7 | NEUBERGER BERMAN GROUP LLC | 2,069,037 | $23M | -1,505,281 | -42.1% | 19Q | SEC ↗ |
| 8 | GW&K Investment Management, LLC | 2,007,096 | $22M | +47,925 | +2.4% | 18Q | SEC ↗ |
| 9 | Stephens Investment Management Group L | 1,953,921 | $22M | +294,122 | +17.7% | 12Q | SEC ↗ |
| 10 | Hodges Capital Management Inc. | 1,592,384 | $18M | +110,607 | +7.5% | 4Q | SEC ↗ |
| 11 | EMERALD ADVISERS, LLC | 1,526,759 | $17M | +579,649 | +61.2% | 5Q | SEC ↗ |
| 12 | BWCP, LP | 1,502,614 | $17M | +144,541 | +10.6% | 2Q | SEC ↗ |
| 13 | Penn Capital Management Company, LLC | 1,472,751 | $16M | +331,594 | +29.1% | 10Q | SEC ↗ |
| 14 | GEODE CAPITAL MANAGEMENT, LLC | 1,444,283 | $16M | +138,731 | +10.6% | 19Q | SEC ↗ |
| 15 | STATE STREET CORP | 1,404,572 | $16M | +211,223 | +17.7% | 19Q | SEC ↗ |
| 16 | Granahan Investment Management, LLC | 1,363,852 | $15M | +275,815 | +25.3% | 19Q | SEC ↗ |
| 17 | RIVERBRIDGE PARTNERS LLC | 1,348,632 | $15M | -743,068 | -35.5% | 5Q | SEC ↗ |
| 18 | Balyasny Asset Management L.P. | 1,211,627 | $13M | +930,650 | +331.2% | 2Q | SEC ↗ |
| 19 | BANK OF AMERICA CORP /DE | 1,069,289 | $12M | +16,863 | +1.6% | 15Q | SEC ↗ |
| 20 | Qube Research & Technologies Ltd | 981,955 | $11M | +493,165 | +100.9% | 4Q | SEC ↗ |
| 21 | Paralel Advisors LLC | 900,000 | $10M | — | +0.0% | 10Q | SEC ↗ |
| 22 | LAZARD ASSET MANAGEMENT LLC | 846,050 | $9M | -934,789 | -52.5% | 7Q | SEC ↗ |
| 23 | EMERALD MUTUAL FUND ADVISERS TRUST | 823,954 | $9M | +254,536 | +44.7% | 5Q | SEC ↗ |
| 24 | NOMURA HOLDINGS INC | 820,809 | $9M | +438,147 | +114.5% | 2Q | SEC ↗ |
| 25 | Woodline Partners LP NEW | 816,586 | $9M | — | +0.0% | 1Q | SEC ↗ |
| 26 | NEW YORK STATE COMMON RETIREMENT FUND | 779,810 | $9M | +73,672 | +10.4% | 19Q | SEC ↗ |
| 27 | Russell Investments Group, Ltd. | 758,854 | $8M | +106,346 | +16.3% | 17Q | SEC ↗ |
| 28 | Champlain Investment Partners, LLC | 745,333 | $8M | -19,598 | -2.6% | 9Q | SEC ↗ |
| 29 | MORGAN STANLEY | 708,261 | $8M | -751,773 | -51.5% | 19Q | SEC ↗ |
| 30 | CITADEL ADVISORS LLC | 650,156 | $7M | +161,741 | +33.1% | 4Q | SEC ↗ |
| 31 | VANGUARD PORTFOLIO MANAGEMENT LLC | 649,571 | $7M | +97,549 | +17.7% | 2Q | SEC ↗ |
| 32 | UBS Group AG | 576,567 | $6M | -377,507 | -39.6% | 10Q | SEC ↗ |
| 33 | ROYCE & ASSOCIATES LP | 556,352 | $6M | +261,184 | +88.5% | 3Q | SEC ↗ |
| 34 | Western Standard LLC NEW | 513,240 | $6M | — | +0.0% | 1Q | SEC ↗ |
| 35 | NORTHERN TRUST CORP | 508,859 | $6M | +15,862 | +3.2% | 19Q | SEC ↗ |
| 36 | AQR CAPITAL MANAGEMENT LLC | 497,128 | $6M | +398,962 | +406.4% | 3Q | SEC ↗ |
| 37 | JANE STREET GROUP, LLC NEW | 462,831 | $5M | — | +0.0% | 1Q | SEC ↗ |
| 38 | Clearbridge Investments, LLC | 428,269 | $5M | +5,759 | +1.4% | 7Q | SEC ↗ |
| 39 | SEI INVESTMENTS CO | 422,637 | $5M | -42,145 | -9.1% | 15Q | SEC ↗ |
| 40 | BROWN ADVISORY INC | 403,737 | $4M | +155,107 | +62.4% | 19Q | SEC ↗ |
| 41 | GOLDMAN SACHS GROUP INC | 402,045 | $4M | -7,874 | -1.9% | 15Q | SEC ↗ |
| 42 | Sixth Street Partners Management Compa NEW | 397,555 | $4M | — | +0.0% | 1Q | SEC ↗ |
| 43 | CHARLES SCHWAB INVESTMENT MANAGEMENT I | 397,555 | $4M | -12,248 | -3.0% | 15Q | SEC ↗ |
| 44 | Quantinno Capital Management LP | 388,652 | $4M | +205,481 | +112.2% | 3Q | SEC ↗ |
| 45 | Empowered Funds, LLC | 362,916 | $4M | +196,357 | +117.9% | 2Q | SEC ↗ |
| 46 | Hudson Bay Capital Management LP NEW | 353,827 | $4M | — | +0.0% | 1Q | SEC ↗ |
| 47 | FRANKLIN RESOURCES INC | 341,123 | $4M | -7,300 | -2.1% | 10Q | SEC ↗ |
| 48 | ArrowMark Colorado Holdings LLC | 324,343 | $4M | -172,838 | -34.8% | 8Q | SEC ↗ |
| 49 | FRED ALGER MANAGEMENT, LLC | 324,194 | $4M | -632,766 | -66.1% | 4Q | SEC ↗ |
| 50 | VANGUARD FIDUCIARY TRUST CO | 322,940 | $4M | -14,053 | -4.2% | 2Q | SEC ↗ |
Recent Activity
New Positions (20)
| Holder | Shares | Value |
|---|---|---|
| Woodline Partners LP | 816,586 | $9M |
| Western Standard LLC | 513,240 | $6M |
| JANE STREET GROUP, LLC | 462,831 | $5M |
| Sixth Street Partners Management Co | 397,555 | $4M |
| Hudson Bay Capital Management LP | 353,827 | $4M |
| Verition Fund Management LLC | 220,122 | $2M |
| PANAGORA ASSET MANAGEMENT INC | 218,530 | $2M |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | 150,157 | $2M |
| Jefferies Financial Group Inc. | 51,200 | $568K |
| IEQ CAPITAL, LLC | 43,289 | $480K |
| Jupiter Topco LLC | 31,736 | $352K |
| Jump Financial, LLC | 30,800 | $342K |
| Jain Global LLC | 28,179 | $313K |
| Manatuck Hill Partners, LLC | 28,100 | $312K |
| MERCER GLOBAL ADVISORS INC /ADV | 25,166 | $279K |
| WEALTH ENHANCEMENT ADVISORY SERVICE | 21,151 | $235K |
| ALLSTATE CORP | 20,521 | $228K |
| Mariner, LLC | 16,607 | $184K |
| CAPTRUST FINANCIAL ADVISORS | 16,023 | $178K |
| CAXTON ASSOCIATES LLP | 13,622 | $151K |
Sold Out (20)
| Holder | Prev Shares | Prev Value |
|---|---|---|
| 12 West Capital Management LP | 1,070,701 | $12M |
| WELLINGTON MANAGEMENT GROUP LLP | 1,069,506 | $12M |
| SILVERCREST ASSET MANAGEMENT GROUP | 1,048,694 | $12M |
| DEEPWATER ASSET MANAGEMENT, LLC | 576,166 | $6M |
| FEDERATED HERMES, INC. | 524,032 | $6M |
| WASATCH ADVISORS LP | 441,416 | $5M |
| Allspring Global Investments Holdin | 340,456 | $4M |
| LOOMIS SAYLES & CO L P | 311,740 | $3M |
| AMERIPRISE FINANCIAL INC | 242,776 | $3M |
| Ranger Investment Management, L.P. | 176,250 | $2M |
| CONGRESS ASSET MANAGEMENT CO | 140,997 | $2M |
| WESBANCO BANK INC | 79,699 | $884K |
| Lotus Technology Management, LP | 75,725 | $840K |
| STRS OHIO | 69,400 | $770K |
| Lighthouse Investment Partners, LLC | 62,674 | $695K |
| PEAK6 LLC | 46,003 | $510K |
| MANGROVE PARTNERS IM, LLC | 45,829 | $508K |
| Y-Intercept (Hong Kong) Ltd | 40,847 | $453K |
| ExodusPoint Capital Management, LP | 40,016 | $444K |
| STATE OF WISCONSIN INVESTMENT BOARD | 38,125 | $423K |
Biggest Increases (20)
| Holder | Added | Change % | Total Shares |
|---|---|---|---|
| Balyasny Asset Management L.P. | +930,650 | +331.2% | 1,211,627 |
| EMERALD ADVISERS, LLC | +579,649 | +61.2% | 1,526,759 |
| Qube Research & Technologies Ltd | +493,165 | +100.9% | 981,955 |
| MANUFACTURERS LIFE INSURANCE COMPAN | +466,032 | +13.9% | 3,823,982 |
| BlackRock, Inc. | +462,387 | +11.4% | 4,534,132 |
| NOMURA HOLDINGS INC | +438,147 | +114.5% | 820,809 |
| AQR CAPITAL MANAGEMENT LLC | +398,962 | +406.4% | 497,128 |
| Penn Capital Management Company, LL | +331,594 | +29.1% | 1,472,751 |
| Stephens Investment Management Grou | +294,122 | +17.7% | 1,953,921 |
| Granahan Investment Management, LLC | +275,815 | +25.3% | 1,363,852 |
| ROYCE & ASSOCIATES LP | +261,184 | +88.5% | 556,352 |
| EMERALD MUTUAL FUND ADVISERS TRUST | +254,536 | +44.7% | 823,954 |
| STATE STREET CORP | +211,223 | +17.7% | 1,404,572 |
| TUDOR INVESTMENT CORP ET AL | +210,799 | +274.0% | 287,727 |
| CITIGROUP INC | +210,334 | +483.5% | 253,832 |
| Quantinno Capital Management LP | +205,481 | +112.2% | 388,652 |
| Empowered Funds, LLC | +196,357 | +117.9% | 362,916 |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C | +187,655 | +148.4% | 314,117 |
| CITADEL ADVISORS LLC | +161,741 | +33.1% | 650,156 |
| BROWN ADVISORY INC | +155,107 | +62.4% | 403,737 |
Biggest Decreases (20)
| Holder | Reduced | Change % | Total Shares |
|---|---|---|---|
| FMR LLC | -1,944,288 | -97.5% | 50,833 |
| NEUBERGER BERMAN GROUP LLC | -1,505,281 | -42.1% | 2,069,037 |
| MILLENNIUM MANAGEMENT LLC | -1,039,436 | -32.2% | 2,192,811 |
| LAZARD ASSET MANAGEMENT LLC | -934,789 | -52.5% | 846,050 |
| MORGAN STANLEY | -751,773 | -51.5% | 708,261 |
| RIVERBRIDGE PARTNERS LLC | -743,068 | -35.5% | 1,348,632 |
| FRED ALGER MANAGEMENT, LLC | -632,766 | -66.1% | 324,194 |
| GILDER GAGNON HOWE & CO LLC | -624,317 | -84.2% | 116,809 |
| SUSQUEHANNA INTERNATIONAL GROUP, LL | -578,483 | -93.9% | 37,706 |
| DIMENSIONAL FUND ADVISORS LP | -487,940 | -15.8% | 2,596,946 |
| UBS Group AG | -377,507 | -39.6% | 576,567 |
| FIRST TRUST ADVISORS LP | -321,624 | -92.9% | 24,577 |
| Bank of New York Mellon Corp | -238,659 | -6.0% | 3,719,038 |
| ArrowMark Colorado Holdings LLC | -172,838 | -34.8% | 324,343 |
| MUTUAL OF AMERICA CAPITAL MANAGEMEN | -138,149 | -36.1% | 244,146 |
| Squarepoint Ops LLC | -131,335 | -69.7% | 57,158 |
| Dynamic Technology Lab Private Ltd | -87,116 | -80.6% | 20,978 |
| Sterling Capital Management LLC | -56,467 | -97.8% | 1,252 |
| Boston Partners | -45,197 | -42.4% | 61,373 |
| SEI INVESTMENTS CO | -42,145 | -9.1% | 422,637 |