Should Investors Follow Advent International's Lead as it Dumps $153 Million of First Watch Restaurant Group Stock?

3 days ago 8

Josh Kohn-Lindquist, The Motley Fool

Sat, December 6, 2025 astatine 11:35 AM CST 5 min read

Boston-based Advent International sold 9,400,000 shares, worthy an estimated $152.89 million.
The alteration represents 3.3% of Advent International’s reported 13F assets nether management.
Post-trade stake: 5,289,784 shares valued astatine $82.73 million.
First Watch present accounts for 1.67% of money AUM, which makes it the fund's 10th-largest position.
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Boston-based Advent International reported a important simplification successful its presumption successful First Watch Restaurant Group (NASDAQ:FWRG) arsenic of Sept. 30, 2025, with an estimated $152.89 cardinal nett decrease.

According to a filing with the Securities and Exchange Commission dated Nov. 14, 2025, Advent International, L.P. reduced its holdings successful First Watch Restaurant Group by 9,400,000 shares.

The post-sale presumption stands astatine 5,289,784 shares, valued astatine $82.73 cardinal arsenic of Sept. 30, 2025.

The firm’s post-sale involvement successful First Watch Restaurant Group represents 1.67% of reported 13F assets, down from 7.64% of AUM successful the anterior quarter.

Top holdings aft the filing:

NIQ Global Intelligence (NYSE:NIQ): $2.35 cardinal (47.1% of AUM)
Olaplex (NASDAQ:OLPX): $654.30 cardinal (13.1% of AUM)
CCC Intelligent Solutions (NASDAQ:CCCS): $340.19 cardinal (6.8% of AUM)
Definitive Healthcare (NASDAQ:DH): $268.44 cardinal (5.4% of AUM)
CI&T (NYSE:CINT): $255.64 cardinal (5.1% of AUM)

As of Dec. 5, 2025, shares were priced astatine $17.70, down 10% implicit the past year, underperforming the S&P 500 by 23 percent points.

The company’s five-year compound yearly maturation complaint for income is 22%.

Metric

Value

Market capitalization	$1.08 billion
Revenue (TTM)	$1.17 billion
Net income (TTM)	$5 million
Price (as of marketplace adjacent 2025-12-5)	$17.70

First Watch Restaurant Group:

Operates and franchises daytime-focused restaurants nether the First Watch brand, offering breakfast, brunch, and luncheon paper items.
Has locations crossed 28 U.S. states.
Serves a wide lawsuit basal seeking fresh, made-to-order meals successful a casual eating environment.

As of Sept. 28, 2025, First Watch Restaurant Group operated 548 company-owned restaurants and 72 franchised restaurants successful the United States.

After holding a bulk involvement successful First Watch Restaurant Group aboriginal successful 2021, Advent International has dilatory unwound its outsize presumption successful the daytime eatery.

While First Watch present accounts for lone 1.7% of Advent's portfolio, the second inactive holds a 9% involvement successful the stock, highlighting the important disparity successful size betwixt the two.