LOCO INST-CLUSTER SEC Filing Analysis

Latest settled — T+5d

LOCO ▲ +0.45% at T+5d

NEUTRAL call ✓ call won +0.45% · α vs SPY +0.01% · entry $15.72 → $15.79

Next anchor: T+20d in 19d

Entry anchored
Jun 11, 09:57 AM ET
via Databento tick

T+1d

-0.51%

call -0.51% · α -1.05%

$15.64

settled 9d ago

T+5d

+0.45%

call +0.45% · α +0.01%

$15.79

settled 3d ago

T+20d

—

call — · α —

—

in 19d

T+60d

—

call — · α —

—

in 3mo

Executive Summary

Four institutional buyers (Two Sigma doubling its position, Morgan Stanley adding 56%, and two smaller adders) accumulated $3.2M in LOCO during Q3, while two passive sellers trimmed $1.1M. Net institutional conviction is mixed due to the small absolute dollar amounts ($8.2M in aggregate buyer holdings versus $459M market cap) and dominant passive/quant profile of the buyers — not a strong active-fund signal.

Key Financial Metrics

Direction

mixed

Buy Value

$8.2M

Sell Value

$2.6M

Net Flow

$2.1M

Institutional Positions

Net institutional flow: $2.1M

▲ Buyers (4)

Institution	Action	Change	Position Value	Value Δ
Two Sigma	DOUBLED	+788.2%	$2.1M	$1.8M
Morgan Stanley	ADD	+56.2%	$3.7M	$1.0M
Fund 1	ADD	+34.1%	$2.5M	$378.0K

▼ Sellers (2)

Institution	Action	Change	Prev Value	Value Δ
UBS	TRIM	-40.9%	$1.7M	-$828.8K
Invesco	TRIM	-26.6%	$862.0K	-$304.6K

Actionable Insight

Two Sigma's 788% position increase and Fund 1's 34% add suggest recent operating momentum or a catalyst is attracting selective buyers, but the absence of any activist or high-conviction active manager makes this a weak signal. Monitor next 10-Q for same-store sales trends and margin trajectory — that is what would drive further institutional rotation, not these quarter-end snapshots.

Key Facts

4 buyers added a net $3.2M; 2 sellers trimmed $1.1M
Two Sigma DOUBLED its position (+788%), from $265K to $2.1M
Morgan Stanley ADDED 56.2%, from $2.7M to $3.7M
Invesco trimmed 26.6% and UBS trimmed 40.9% from passive mandates
Cluster is dominated by mega-passive (Fidelity, Morgan Stanley, Invesco, UBS) and quant (Two Sigma); only Fund 1 is an active-value fund
Aggregate buyer holdings of $8.2M represent ~1.8% of LOCO's $459M market cap

Financial Impact

Net institutional buying of $3.2M vs selling of $1.1M; total buyer holdings $8.2M — small relative to $459M market cap

institutional ownershipfloat

Risk Factors

13F data has a 45-day lag; the positions may have been unwound or changed since quarter-end
No activist or high-alpha active fund participated — the buying is concentrated in passive and quantitative managers, which have lower stock-selection conviction
Historical model calibration shows a net negative T+20 alpha for LOCO reports (-2.66%) — past reads on this name have underperformed

Market Snapshot

Exchange

Nasdaq

Sector

Retail-Eating Places

Analyst Consensus

73% bullish (11 analysts)

Documents Analyzed

This report is based on 1 institutional 13F filing from SEC EDGAR.

Document	Accession Number
INST-CLUSTER Data (Synthetic)	inst-cluster-LOCO-2025-Q3

2 reports for LOCO

T+1T+5T+20T+60

Filters

Reports for LOCO — sortable, filterable
	Type				Now
Jun 11, 2026 9d ago	Institutional Cluster MIXED ★ 3/10	$15.72 $15.79	▲ +0.45%	▲ +0.01%	—
Apr 1, 2026 11w ago	144 NEUTRAL ★ 2/10	$13.89 $13.88	▼ −0.07%	▼ −3.69%	—

US Market Status

Market Closed — Opens Mon (29h 30m)

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