NOODLES & CO
COM CL A · CUSIP 65540B105
76
institutional holders
-21 vs Q2 2023
29.8m
shares reported held*
$73.4mreported value*
9 new
27 added
25 reduced
30 sold out
net sold ≈ $9.8m (-4.0m shares)
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $2.46. Options: 4 managers hold calls ($135.4k notional), 3 hold puts ($347.6k).
Trends to Q3 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 103 |
| Q4 2022 | 103 |
| Q1 2023 | 108 |
| Q2 2023 | 97 |
| Q3 2023 | 76 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 49 | 39 |
| Q1 2023 | 58 | 38 |
| Q2 2023 | 49 | 52 |
| Q3 2023 | 36 | 55 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2022 | $899.6k | $44.5k | 0.05 |
| Q1 2023 | $698.2k | $4.9m | 6.95 |
| Q2 2023 | $195.2k | $2.8m | 14.58 |
| Q3 2023 | $135.4k | $347.6k | 2.57 |
Biggest buyers
| Nantahala Capital Management, LLC | Added | +2.5m |
| Invenomic Capital Management LP | New | +843.4k |
| Mill Road Capital Management LLC | Added | +754.9k |
| AQR CAPITAL MANAGEMENT LLC | Added | +337.9k |
| Fund 1 Investments, LLC | New | +285.8k |
| ROYCE & ASSOCIATES LP | Added | +163.0k |
| GOLDMAN SACHS GROUP INC | Added | +138.5k |
| D. E. Shaw & Co., Inc. | Added | +135.1k |
| VANGUARD GROUP INC | Added | +124.2k |
| BANK OF AMERICA CORP /DE/ | Added | +84.1k |
Biggest sellers
| FMR LLC | Reduced | -2.2m |
| WASATCH ADVISORS LP | Sold out | -1.5m |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | Sold out | -1.1m |
| AWM Investment Company, Inc. | Sold out | -900.4k |
| Hillsdale Investment Management Inc. | Sold out | -822.2k |
| First Eagle Investment Management, LLC | Sold out | -452.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -339.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -263.4k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -240.7k |
| PROSPECTOR PARTNERS LLC | Reduced | -194.2k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $123.5k50.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $9.0k4.0k shares |
| GROUP ONE TRADING LLC | Reduced | $3.0k1.2k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $291.3k118.4k shares |
| CITADEL ADVISORS LLC | Added | $56.3k22.9k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Nantahala Capital Management, LLC 13G · institution filed 2024-11-14 | 9.9% |
Galloway Capital Partners, LLC
13D · may seek influence
+2.8 pts · filed 2026-02-24
Stated purposeEach Reporting Person acquired the securities described in this Schedule 13D for investment purposes and intend to review its investment in the Issuer on a continuing basis. Each Reporting Person may from time to time acquire additional securities of the Issuer or retain or sell all or a portion of the shares then held by such Reporting Person, in the open market, block trades, underwritten public offerings or privately negotiated transactions. Any actions any Reporting Person might undertake with respect to its investment in the Issuer may be made at any time and from time to time and will be dependent upon such Reporting Person's review of numerous factors, including, but not limited to: ongoing evaluation of the Issuer's business, financial condition, operations, prospects and strateg… Full filing |
8.8% |
Fell to 5% or below in the last year: Diveroli Investment Group LLC (1.3%, 2025-12-03)
Holders, Q3 2023
| Manager | Shares | Change |
|---|---|---|
| Mill Road Capital Management LLC 8.99% of their portfolio | 6.9m $17.1m | Added +754.9k |
| Nantahala Capital Management, LLC 1.09% of their portfolio | 3.5m $8.6m | Added +2.5m |
| FMR LLC 0.00% of their portfolio | 2.6m $6.5m | Reduced -2.2m |
| BlackRock Inc. 0.00% of their portfolio | 2.6m $6.3m | Reduced -44.2k |
| VANGUARD GROUP INC 0.00% of their portfolio | 2.4m $5.8m | Added +124.2k |
| ROYCE & ASSOCIATES LP 0.05% of their portfolio | 2.0m $5.0m | Added +163.0k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.08% of their portfolio | 1.3m $3.1m | Reduced -4.8k |
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 0.14% of their portfolio | 910.0k $2.2m | Reduced -21.6k |
| Invenomic Capital Management LP 0.09% of their portfolio | 843.4k $2.1m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 768.8k $1.9m | Added +23.6k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 762.9k $1.9m | Added +135.1k |
| STATE STREET CORP 0.00% of their portfolio | 669.8k $1.6m | Added +1.6k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 494.0k $1.2m | Added +337.9k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 395.2k $972.1k | Reduced -240.7k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 330.5k $813.1k | Reduced -4.6k |
| Fund 1 Investments, LLC 0.27% of their portfolio | 285.8k $703.0k | New |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 235.9k $580.4k | Reduced -5.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 221.7k $545.3k | Added +138.5k |
| MORGAN STANLEY 0.00% of their portfolio | 186.2k $457.9k | Added +43.6k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 180.6k $444.3k | Added +16.4k |
| THOMPSON INVESTMENT MANAGEMENT, INC. 0.07% of their portfolio | 155.5k $382.5k | Unchanged |
| PROSPECTOR PARTNERS LLC 0.05% of their portfolio | 151.7k $373.2k | Reduced -194.2k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 121.9k $299.9k | Added +10.9k |
| Spouting Rock Asset Management, LLC 0.10% of their portfolio | 121.4k $298.6k | Reduced -17.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 120.0k $295.3k | Reduced -418 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 119.0k $292.7k | Added +84.1k |
| INNOVIS ASSET MANAGEMENT LLC 0.11% of their portfolio | 118.7k $292.1k | Added +57.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 112.9k $278.0k | Reduced -263.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 108.1k $265.9k | Unchanged |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 92.2k $226.7k | Reduced -46.0k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 85.9k $211.3k | Reduced -52.9k |
| Invesco Ltd. 0.00% of their portfolio | 80.1k $197.2k | Added +528 |
| Creative Planning 0.00% of their portfolio | 72.1k $177.4k | Reduced -40.0k |
| BARCLAYS PLC 0.00% of their portfolio | 66.0k $162.3k | Added +19.1k |
| ALGERT GLOBAL LLC 0.01% of their portfolio | 60.5k $148.9k | Added +21.8k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 56.0k $137.7k | Reduced -339.7k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 53.2k $130.9k | Reduced -95.9k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 45.9k $113.0k | Added +7.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 44.8k $111.0k | Added +1.1k |
| LPL Financial LLC 0.00% of their portfolio | 42.8k $105.2k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 37.0k $91.1k | Added +18.8k |
| Crescent Grove Advisors, LLC 0.01% of their portfolio | 35.2k $86.6k | Unchanged |
| US BANCORP \DE\ 0.00% of their portfolio | 29.0k $71.3k | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 28.4k $69.8k | Unchanged |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 26.5k $64.5k | Added +6.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 26.0k $64.0k | Reduced -8.1k |
| Capstone Financial Advisors, Inc. 0.00% of their portfolio | 25.0k $61.5k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 21.5k $52.8k | Reduced -2.1k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio | 20.0k $49.3k | Added +712 |
| Engineers Gate Manager LP 0.00% of their portfolio | 19.3k $47.5k | Added +4.7k |
| Allspring Global Investments Holdings, LLC 0.00% of their portfolio | 15.8k $38.9k | Reduced -3.3k |
| STONERIDGE INVESTMENT PARTNERS LLC 0.02% of their portfolio | 13.8k $34.0k | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 13.3k $32.8k | Reduced -94.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 13.2k $32.4k | Reduced -51 |
| Valeo Financial Advisors, LLC 0.00% of their portfolio | 11.8k $29.0k | New |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 10.8k $26.6k | Reduced -2.5k |
| FIRST FINANCIAL CORP /IN/ 0.01% of their portfolio | 10.0k $24.7k | New |
| Ameritas Advisory Services, LLC 0.00% of their portfolio | 10.0k $23.6k | New |
| First County Bank /CT/ 0.01% of their portfolio | 10.0k $24.6k | Unchanged |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 8.9k $21.8k | Reduced -4.5k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 8.4k $20.7k | Reduced -8.7k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 7.5k $18.0k | Added +4.5k |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 6.7k $16.5k | Added +1.9k |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 6.6k $16.3k | Added +928 |
| AMALGAMATED BANK 0.00% of their portfolio | 6.2k $15.0k | Unchanged |
| Legal & General Group Plc 0.00% of their portfolio | 4.9k $12.0k | Unchanged |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 3.2k $7.8k | Unchanged |
| Arax Advisory Partners 0.00% of their portfolio | 2.2k $5.3k | Unchanged |
| FinTrust Capital Advisors, LLC 0.00% of their portfolio | 350 $861 | New |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 194 $477 | New |
| WOLFF WIESE MAGANA LLC 0.00% of their portfolio | 145 $357 | Unchanged |
| COMERICA BANK 0.00% of their portfolio | 118 $290 | New |
| CWM, LLC 0.00% of their portfolio | 102 $0 | Added +57 |
| CITIGROUP INC 0.00% of their portfolio | 23 $57 | Reduced -11.9k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 1 $2 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |