NOODLES & Co (NDLS) Institutional Ownership

Institutions by Trading Activity

46,458,845Shares Outstanding

880,785Shares held by institutions

$11,089,083Value of institutional holdings

1.90%Institutional ownership %

0.66%Shares Changed QoQ

2No. of institutional investors

NOODLES & Co (NASDAQ:NDLS) showed up in the 13F filings of 44 institutional investors as of December 2025.

These investors held 4.3% of outstanding shares in December 2025, down from 4.7% in September 2025.
They increased total shares held in NDLS by 1.54% quarter over quarter, and investors in Noodles decreased 8.33% from a year ago.
Of these 44 funds, 21 grew their exposure to Noodles, 10 cut back, and 13 maintained positions.
Combined, these investors held 1.98Mn shares in NDLS for December 2025, up by 30.04K shares quarter on quarter, and down 485.68K shares year over year.
As of December 31, 2025, Mill Road Capital Management LLC held the largest stake in Noodles with 870.66K shares, accounting for 1.87% of total shares outstanding.
The largest buyers of Noodles for the quarter ending December 2025 were Quinn Opportunity Partners LLC (5.75K).
The largest sales of NDLS for the quarter ending December 2025 came from Mill Road Capital Management LLC (1).
Per Business Quant, the top 2 investors in NDLS for the quarter ending December 2025 include Mill Road Capital Management LLC (870.66K), Quinn Opportunity Partners LLC (10.12K).

880,785 Total Shares Held

Rows:

Owner Name	Date	Shares Held	Change (QoQ)	Change (%)	Value (USD)
Mill Road Capital Management LLC	31 Dec, 2025	870,661	0	0.00%	$4,917,495.00
Mill Road Capital Management LLC	31 Dec, 2025	870,660	-1	0.00%	$7,444,143.00
Nantahala Capital Management, LLC	31 Dec, 2025	515,589	-47,598	-8.45%	$2,912,044.00
VANGUARD GROUP INC	31 Dec, 2025	264,474	0	0.00%	$1,493,750.00
BlackRock, Inc.	31 Dec, 2025	62,260	-1,872	-2.92%	$351,644.00
GEODE CAPITAL MANAGEMENT, LLC	31 Dec, 2025	48,678	3,423	7.56%	$275,001.00
CITADEL ADVISORS LLC	31 Dec, 2025	30,377	30,377	0.00%	$171,566.00
JANE STREET GROUP, LLC	31 Dec, 2025	25,773	25,773	0.00%	$145,566.00
State Street Corp	31 Dec, 2025	22,745	5,401	31.14%	$128,466.00
Northern Trust Corp	31 Dec, 2025	16,709	8,810	111.55%	$94,370.00
UBS Group AG	31 Dec, 2025	12,362	5,360	76.56%	$69,819.00
Creative Planning	31 Dec, 2025	12,089	-13,750	-53.21%	$68,277.00
XTX Topco Ltd	31 Dec, 2025	11,843	11,843	0.00%	$66,891.00
RENAISSANCE TECHNOLOGIES LLC	31 Dec, 2025	11,688	3,075	35.70%	$66,011.00
Quinn Opportunity Partners LLC	31 Dec, 2025	10,125	5,750	131.43%	$86,569.00
BRIDGEWAY CAPITAL MANAGEMENT, LLC	31 Dec, 2025	9,144	0	0.00%	$51,645.00
Barclays Plc	31 Dec, 2025	7,271	-14,665	-66.85%	$41,067.00
Goldman Sachs Group Inc	31 Dec, 2025	6,335	-9,398	-59.74%	$35,778.00
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	31 Dec, 2025	6,225	6,207	34,246.21%	$3,666,919.00
Assenagon Asset Management S.A.	31 Dec, 2025	5,579	3,008	117.02%	$31,509.00

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