Who owns Noodles (NDLS)
Which tracked institutional funds hold NDLS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See NDLS company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on NDLS is one-sided between 2026-Q1 and 2026-Q2: 10 added or opened and 0 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
NDLS’s largest tracked holder by dollar value, Mill Road Capital Management LLC, sizes it at 6.4% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 6.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in NDLS divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 37 tracked filers holding NDLS, 20 increased or opened the position and 10 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in NDLS between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 2
- GOLDMAN SACHS GROUP INC$836K
- Assenagon Asset Management S.A.$825K
Largest adds
- Mill Road Capital Management LLC$6M
- Nantahala Capital Management, LLC$4M
- VANGUARD CAPITAL MANAGEMENT LLC$1M
- JANE STREET GROUP, LLC$837K
- CITADEL ADVISORS LLC$760K
- BlackRock, Inc.$598K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Mill Road Capital Management LLC | 870,660 | $13M | 33.2% | 2026-Q2 |
| Nantahala Capital Management, LLC | 553,746 | $8M | 21.1% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC trimmed | 218,589 | $3M | 8.3% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 91,296 | $1M | 3.5% | 2026-Q2 |
| BlackRock, Inc. added | 75,595 | $1M | 2.9% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 62,397 | $933K | 2.4% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 55,949 | $836K | 2.1% | 2026-Q2 |
| Assenagon Asset Management S.A. added | 55,191 | $825K | 2.1% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC trimmed | 50,145 | $750K | 1.9% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC added | 35,480 | $530K | 1.4% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 28,805 | $431K | 1.1% | 2026-Q2 |
| Centiva Capital, LP added | 27,297 | $408K | 1.0% | 2026-Q2 |
| STATE STREET CORP | 22,743 | $340K | 0.9% | 2026-Q2 |
| Quadrature Capital Ltd added | 19,889 | $297K | 0.8% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 17,984 | $269K | 0.7% | 2026-Q2 |
| Quinn Opportunity Partners LLC added | 15,125 | $226K | 0.6% | 2026-Q2 |
| XTX Topco Ltd trimmed | 12,043 | $180K | 0.5% | 2026-Q2 |
| NORTHERN TRUST CORP trimmed | 10,267 | $153K | 0.4% | 2026-Q2 |
| BARCLAYS PLC added | 7,296 | $109K | 0.3% | 2026-Q2 |
| MORGAN STANLEY trimmed | 2,745 | $41K | 0.1% | 2026-Q2 |
| Vanguard Global Advisers, LLC | 1,584 | $24K | 0.1% | 2026-Q2 |
| PNC Financial Services Group, Inc. | 596 | $9K | 0.0% | 2026-Q2 |
| Arax Advisory Partners added | 542 | $8K | 0.0% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP | 369 | $6K | 0.0% | 2026-Q2 |
| SBI Securities Co., Ltd. added | 333 | $5K | 0.0% | 2026-Q2 |
| GROUP ONE TRADING LLC trimmed | 189 | $3K | 0.0% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 82 | $1K | 0.0% | 2026-Q2 |
| Caitong International Asset Management Co., Ltd trimmed | 78 | $1K | 0.0% | 2026-Q2 |
| Hilton Head Capital Partners, LLC trimmed | 62 | $927 | 0.0% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 51 | $762 | 0.0% | 2026-Q2 |
| UBS Group AG trimmed | 29 | $434 | 0.0% | 2026-Q2 |
| WOLFF WIESE MAGANA LLC | 18 | $270 | 0.0% | 2026-Q2 |
| FMR LLC trimmed | 16 | $239 | 0.0% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 3 | $46 | 0.0% | 2026-Q2 |
| FINANCIAL CONSULATE, INC | 3 | $45 | 0.0% | 2026-Q2 |
| DANSKE BANK A/S | 1 | $15 | 0.0% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 31 | — | 0.0% | 2026-Q2 |
| Crewe Advisors LLC new | 11,000 | $94K | 0.2% | 2026-Q1 stale (1 quarter behind) |
| Tower Research Capital LLC (TRC) trimmed | 1,175 | $10K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 49,802 | $4M | 9.3% | 2025-Q4 stale (2 quarters behind) |
| VANGUARD GROUP INC | 2,115,793 | $1M | 3.8% | 2025-Q4 stale (2 quarters behind) |
| Creative Planning trimmed | 96,710 | $68K | 0.2% | 2025-Q4 stale (2 quarters behind) |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | 73,152 | $52K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Virtu Financial LLC added | 40,352 | $28K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| GSA CAPITAL PARTNERS LLP new | 37,702 | $27K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Crescent Grove Advisors, LLC | 35,085 | $25K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Lotus Technology Management, LP new | 34,433 | $24K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| MILLENNIUM MANAGEMENT LLC trimmed | 32,181 | $23K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Capstone Financial Advisors, Inc. | 25,000 | $18K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| SIMPLEX TRADING, LLC added | 20,781 | $15K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| BANK OF AMERICA CORP /DE/ added | 17,164 | $12K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Truvestments Capital LLC new | 575 | $406 | 0.0% | 2025-Q4 stale (2 quarters behind) |
| CITIGROUP INC trimmed | 1 | $1 | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Invesco Ltd. trimmed | 39,291 | $25K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 33,168 | $21K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| US BANCORP \DE\ | 29,000 | $18K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| HSBC HOLDINGS PLC trimmed | 23,403 | $15K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| TWO SIGMA SECURITIES, LLC trimmed | 11,180 | $7K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 137,960 | $98K | 0.3% | 2025-Q2 stale (4 quarters behind) |
| Archon Capital Management LLC trimmed | 45,191 | $32K | 0.1% | 2025-Q2 stale (4 quarters behind) |
| RAYMOND JAMES FINANCIAL INC new | 2,300 | $2K | 0.0% | 2025-Q2 stale (4 quarters behind) |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale (4 quarters behind) |
| Ameritas Advisory Services, LLC trimmed | 0 | — | 0.0% | 2025-Q2 stale (4 quarters behind) |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.