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Boston-based Introduction Worldwide offered 9,400,000 shares, price an estimated $152.89 million.
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The change represents 3.3% of Introduction Worldwide’s reported 13F property beneath administration.
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Publish-trade stake: 5,289,784 shares valued at $82.73 million.
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First Watch now accounts for 1.67% of fund AUM, which makes it the fund’s Tenth-largest place.
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These 10 shares might mint the subsequent wave of millionaires ›
Boston-based Introduction Worldwide reported a major discount in its place in First Watch Restaurant Group (NASDAQ:FWRG) as of Sept. 30, 2025, with an estimated $152.89 million internet lower.
Based on a submitting with the Securities and Trade Fee dated Nov. 14, 2025, Introduction Worldwide, L.P. decreased its holdings in First Watch Restaurant Group by 9,400,000 shares.
The post-sale place stands at 5,289,784 shares, valued at $82.73 million as of Sept. 30, 2025.
The agency’s post-sale stake in First Watch Restaurant Group represents 1.67% of reported 13F property, down from 7.64% of AUM within the prior quarter.
High holdings after the submitting:
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NIQ International Intelligence (NYSE:NIQ): $2.35 billion (47.1% of AUM)
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Olaplex (NASDAQ:OLPX): $654.30 million (13.1% of AUM)
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CCC Clever Options (NASDAQ:CCCS): $340.19 million (6.8% of AUM)
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Definitive Healthcare (NASDAQ:DH): $268.44 million (5.4% of AUM)
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CI&T (NYSE:CINT): $255.64 million (5.1% of AUM)
As of Dec. 5, 2025, shares had been priced at $17.70, down 10% over the previous 12 months, underperforming the S&P 500 by 23 proportion factors.
The corporate’s five-year compound annual development price for gross sales is 22%.
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Metric
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Worth
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Market capitalization
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$1.08 billion
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Income (TTM)
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$1.17 billion
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Web revenue (TTM)
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$5 million
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Worth (as of market shut 2025-12-5)
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$17.70
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First Watch Restaurant Group:
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Operates and franchises daytime-focused eating places beneath the First Watch model, providing breakfast, brunch, and lunch menu gadgets.
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Has places throughout 28 U.S. states.
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Serves a broad buyer base in search of contemporary, made-to-order meals in an off-the-cuff eating setting.
As of Sept. 28, 2025, First Watch Restaurant Group operated 548 company-owned eating places and 72 franchised eating places in the USA.
After holding a majority stake in First Watch Restaurant Group early in 2021, Introduction Worldwide has slowly unwound its outsize place within the daytime eatery.
Whereas First Watch now accounts for just one.7% of Introduction’s portfolio, the latter nonetheless holds a 9% stake within the inventory, highlighting the numerous disparity in measurement between the 2.
This simply highlights that traders should not essentially fear in regards to the sale, in my view.
From a Silly perspective, there’s a lot to love about this distinctive restaurant.
Its staff solely work one shift, from 7 a.m. to 2:30 p.m., streamlining operations and boosting worker satisfaction.
First Watch’s menus “are chef-driven and rotate 5 occasions a 12 months,” permitting the corporate to deal with customizable meals that enchantment to youthful generations.
With a per-person common value of $17, First Watch’s meals match into the “reasonably priced luxurious” area of interest and provide a fairly priced (and more healthy) different to the meals sometimes offered by outdated legacy restaurant chains.
Rising gross sales by 26%, same-store gross sales by 7%, and rising its revenue margins within the final quarter, First Watch appears like a pretty development inventory at simply 8 occasions money from operations (CFO).
Nonetheless solely working in 28 states — and lots of of those with only a single-digit retailer depend — First Watch’s development story remains to be in its early chapters. House to a reduced valuation and rising by way of its personal CFO, I will preserve a really shut eye on this promising development inventory.
13F property beneath administration (AUM): The entire worth of securities reported by institutional funding managers in quarterly SEC Kind 13F filings.
Stake: The quantity or proportion of possession an investor holds in an organization.
High holdings: The biggest investments in a fund’s portfolio, sometimes by market worth or proportion of property.
Compound annual development price (CAGR): The imply annual development price of an funding over a specified interval, assuming income are reinvested.
Trailing twelve months (TTM): The 12 months ending with the newest quarterly report.
Belongings beneath administration (AUM): The entire market worth of investments managed by a fund or funding agency.
Franchised eating places: Eating places operated by unbiased house owners beneath an organization’s model and enterprise mannequin, somewhat than by the corporate itself.
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Josh Kohn-Lindquist has no place in any of the shares talked about. The Motley Idiot has no place in any of the shares talked about. The Motley Idiot has a disclosure coverage.
Ought to Traders Observe Introduction Worldwide’s Lead because it Dumps $153 Million of First Watch Restaurant Group Inventory? was initially printed by The Motley Idiot
