NOODLES & CO
COM CL A · CUSIP 65540B105
83
institutional holders
+7 vs Q3 2023
33.5m
shares reported held*
$105.5mreported value*
13 new
25 added
26 reduced
7 sold out
net bought ≈ $11.2m (+3.5m 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 ≈ $3.15. Options: 4 managers hold calls ($272.3k notional), 5 hold puts ($233.1k).
Trends to Q4 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 |
| Q4 2023 | 83 |
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 |
| Q4 2023 | 38 | 33 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2023 | $698.2k | $4.9m | 6.95 |
| Q2 2023 | $195.2k | $2.8m | 14.58 |
| Q3 2023 | $135.4k | $347.6k | 2.57 |
| Q4 2023 | $272.3k | $233.1k | 0.86 |
Biggest buyers
| Nantahala Capital Management, LLC | Added | +4.0m |
| FULLER & THALER ASSET MANAGEMENT, INC. | New | +683.3k |
| ROYCE & ASSOCIATES LP | Added | +355.8k |
| MORGAN STANLEY | Added | +274.1k |
| Manatuck Hill Partners, LLC | New | +225.0k |
| BlackRock Inc. | Added | +159.6k |
| MILLENNIUM MANAGEMENT LLC | Added | +100.5k |
| Nuveen Asset Management, LLC | Added | +59.9k |
| BARCLAYS PLC | Added | +48.2k |
| CITADEL ADVISORS LLC | Added | +38.3k |
Biggest sellers
| FMR LLC | Reduced | -707.8k |
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. | Reduced | -512.0k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -352.4k |
| KENNEDY CAPITAL MANAGEMENT LLC | Reduced | -310.1k |
| Fund 1 Investments, LLC | Sold out | -285.8k |
| PROSPECTOR PARTNERS LLC | Sold out | -151.7k |
| Invenomic Capital Management LP | Reduced | -112.4k |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -58.3k |
| D. E. Shaw & Co., Inc. | Reduced | -39.8k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -37.0k |
Biggest calls
| GROUP ONE TRADING LLC | Added | $208.5k66.2k shares |
| SIMPLEX TRADING, LLC | Added | $60.0k19.2k shares |
| CITADEL ADVISORS LLC | Reduced | $3.8k1.2k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Crawford Fund Management, LLC | First filing | $119.7k38.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $77.8k24.7k shares |
| GROUP ONE TRADING LLC | New | $29.3k9.3k shares |
| CITADEL ADVISORS LLC | Reduced | $6.3k2.0k 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, Q4 2023
| Manager | Shares | Change |
|---|---|---|
| Nantahala Capital Management, LLC 1.18% of their portfolio | 7.5m $23.6m | Added +4.0m |
| Mill Road Capital Management LLC 10.02% of their portfolio | 7.0m $21.9m | Added +19.7k |
| BlackRock Inc. 0.00% of their portfolio | 2.7m $8.6m | Added +159.6k |
| VANGUARD GROUP INC 0.00% of their portfolio | 2.4m $7.6m | Added +27.6k |
| ROYCE & ASSOCIATES LP 0.07% of their portfolio | 2.4m $7.5m | Added +355.8k |
| FMR LLC 0.00% of their portfolio | 1.9m $6.0m | Reduced -707.8k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.07% of their portfolio | 962.1k $3.0m | Reduced -310.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 789.0k $2.5m | Added +20.2k |
| Invenomic Capital Management LP 0.12% of their portfolio | 731.0k $2.3m | Reduced -112.4k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 723.0k $2.3m | Reduced -39.8k |
| FULLER & THALER ASSET MANAGEMENT, INC. 0.01% of their portfolio | 683.3k $2.2m | New |
| STATE STREET CORP 0.00% of their portfolio | 674.5k $2.1m | Added +4.7k |
| MORGAN STANLEY 0.00% of their portfolio | 460.3k $1.4m | Added +274.1k |
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 0.07% of their portfolio | 398.0k $1.3m | Reduced -512.0k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 358.2k $1.1m | Reduced -37.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 328.7k $1.0m | Reduced -1.8k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 295.9k $932.0k | Added +59.9k |
| Manatuck Hill Partners, LLC 0.30% of their portfolio | 225.0k $708.8k | New |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 218.9k $689.5k | Added +38.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 210.3k $662.5k | Reduced -11.4k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 156.9k $494.2k | Added +35.0k |
| THOMPSON INVESTMENT MANAGEMENT, INC. 0.08% of their portfolio | 155.5k $489.8k | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 141.6k $445.9k | Reduced -352.4k |
| SIERRA SUMMIT ADVISORS LLC 0.13% of their portfolio | 140.5k $442.7k | First filing |
| Spouting Rock Asset Management, LLC 0.14% of their portfolio | 121.1k $381.5k | Reduced -300 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 120.1k $378.0k | Added +7.2k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 119.9k $377.8k | Reduced -108 |
| BARCLAYS PLC 0.00% of their portfolio | 114.1k $359.6k | Added +48.2k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 113.8k $358.6k | Added +100.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 108.1k $340.4k | Unchanged |
| SAPIENT CAPITAL LLC 0.01% of their portfolio | 95.5k $300.9k | First filing |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 88.3k $278.0k | Added +32.3k |
| Creative Planning 0.00% of their portfolio | 87.4k $275.4k | Added +15.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 84.4k $265.9k | Reduced -34.5k |
| Invesco Ltd. 0.00% of their portfolio | 78.1k $246.0k | Reduced -2.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 65.9k $207.6k | Reduced -20.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 53.5k $168.5k | Added +270 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 52.2k $164.4k | Added +26.2k |
| UBS Group AG 0.00% of their portfolio | 47.9k $150.8k | Added +26.4k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 47.8k $150.7k | Added +1.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 44.8k $142.0k | Unchanged |
| LPL Financial LLC 0.00% of their portfolio | 39.4k $124.0k | Reduced -3.4k |
| Crescent Grove Advisors, LLC 0.01% of their portfolio | 35.2k $110.9k | Unchanged |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 33.9k $106.6k | Reduced -58.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 31.6k $99.5k | Reduced -5.4k |
| US BANCORP \DE\ 0.00% of their portfolio | 29.0k $91.3k | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 28.4k $89.4k | Unchanged |
| ALGERT GLOBAL LLC 0.00% of their portfolio | 26.7k $84.2k | Reduced -33.8k |
| SHERBROOKE PARK ADVISERS LLC 0.04% of their portfolio | 26.6k $83.9k | New |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 26.5k $80.9k | Unchanged |
| Capstone Financial Advisors, Inc. 0.01% of their portfolio | 25.0k $78.8k | Unchanged |
| MetLife Investment Management, LLC 0.00% of their portfolio | 21.8k $68.7k | New |
| AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio | 20.0k $62.9k | Reduced -80 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 16.7k $52.5k | New |
| Quinn Opportunity Partners LLC 0.01% of their portfolio | 15.0k $47.2k | New |
| Engineers Gate Manager LP 0.00% of their portfolio | 13.9k $43.9k | Reduced -5.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 13.3k $41.8k | Added +106 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 12.9k $41.0k | Added +5.4k |
| OCCUDO QUANTITATIVE STRATEGIES LP 0.01% of their portfolio | 12.8k $40.4k | New |
| Valeo Financial Advisors, LLC 0.00% of their portfolio | 11.8k $37.2k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 10.8k $33.9k | Added +2.4k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 10.6k $33.4k | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 10.4k $32.9k | New |
| First County Bank /CT/ 0.02% of their portfolio | 10.0k $31.5k | Unchanged |
| FIRST FINANCIAL CORP /IN/ 0.01% of their portfolio | 8.2k $25.7k | Reduced -1.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 6.6k $20.8k | Reduced -2.3k |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 6.2k $19.5k | Reduced -504 |
| AMALGAMATED BANK 0.00% of their portfolio | 5.7k $18.0k | Reduced -421 |
| CITIGROUP INC 0.00% of their portfolio | 5.7k $17.8k | Added +5.6k |
| Legal & General Group Plc 0.00% of their portfolio | 4.3k $13.4k | Reduced -601 |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 3.2k $10.0k | Unchanged |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 3.0k $9.4k | Reduced -3.6k |
| Metropolitan Life Insurance Co/NY 0.00% of their portfolio | 2.4k $7.5k | New |
| Arax Advisory Partners 0.00% of their portfolio | 2.2k $6.8k | Unchanged |
| COMERICA BANK 0.00% of their portfolio | 450 $1.4k | Added +332 |
| NewEdge Advisors, LLC 0.00% of their portfolio | 450 $1.4k | New |
| FinTrust Capital Advisors, LLC 0.00% of their portfolio | 350 $1.1k | Unchanged |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 194 $611 | Unchanged |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 146 $460 | New |
| WOLFF WIESE MAGANA LLC 0.00% of their portfolio | 145 $457 | Unchanged |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 106 $334 | New |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 1 $3 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |