EMERALD MUTUAL FUND ADVISERS TRUST

Mutual Fund

Position in FWRG — First Watch Restaurant Group, Inc.

CIK 1352895 Leola, PA

Position in FWRG

as of Jun 30, 2026 · filed Aug 5, 2026 Compact

Position Value

$10,620,767

+$4,653,267 QoQ

Shares Held

823,954

+44.7% QoQ

Ownership

1.34%

of shares outstanding

% of Portfolio

0.39%

of 13F equity value

Holder Rank

#23

of 206 holders

Holding Since

Jun 2025

5 quarters on record

Voting authority Sole 100% Shared 0% None 0%

Consumer Cyclical · as of Jun 30, 2026

EMERALD MUTUAL FUND ADVISERS TRUST holds $34,580,780 across 4 Restaurants names. FWRG ranks #2 (30.7% of the industry book) .

#	Ticker	Company	Shares	Value (USD)
1	BJRI	BJs RESTAURANTS INC	322,573	$19,593,084
2	FWRG	First Watch Restaurant Group, Inc. This page	823,954	$10,620,767
3	BRCB	Black Rock Coffee Bar, Inc.	453,734	$3,761,454
4	SBUX	Starbucks Corp	5,925	$605,475

5 filing rows on record

Report Date	Value (USD)	Shares	Change	Type	Discretion	Filed
2026-06-30	$10,620,767	823,954	+44.7%	Shares	Sole	2026-08-05
2026-03-31	$5,967,500	569,418	0.0%	Shares	Sole	2026-05-04
2025-12-31	$8,586,823	569,418	+14.3%	Shares	Sole	2026-02-09
2025-09-30	$7,792,254	498,226	+92.7%	Shares	Sole	2025-10-30
2025-06-30	$4,146,949	258,538	—	Shares	Sole	2025-08-04
No filing history on record for this holder in this stock.