Eastover Loads Up On Chipotle With 73K Shares in Q3 Filing
Key Points
Acquired 72,764 shares of Chipotle Mexican Grill; estimated trade size of ~$3.5 million based on the average price for Q3 2025
Transaction accounts for 1.4% of Eastover’s $229.98 million in 13F assets under management as of September 30
Post-trade position: 107,786 shares valued at $4.22 million, representing 1.8% of fund as of September 30
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Eastover Investment Advisors LLC reported a substantial purchase of Chipotle Mexican Grill(NYSE:CMG), acquiring 72,764 shares for an estimated $3.5 million during the quarter ended September 30, 2025, according to an October 7, 2025, SEC filing.
What happened
Eastover Investment Advisors LLC disclosed in a filing with the Securities and Exchange Commission, dated October 7, 2025, that it bought 72,764 additional shares of Chipotle. The estimated value of the transaction was approximately $3.28 million. The fund reported holding 107,786 shares as of September 30.
What else to know
This purchase brings Eastover's stake of Chipotle to 1.8% of reportable assets under management as of September 30.
Top holdings after the filing:
- NASDAQ:AVGO: $15.16 million (6.6% of AUM)
- NASDAQ:AAPL: $12.92 million (5.6% of AUM)
- NASDAQ:NVDA: $12.85 million (5.6% of AUM)
- NASDAQ:GOOGL: $11.44 million (5.0% of AUM)
- NASDAQ:MSFT: $11.41 million (5.0% of AUM)
As of October 7, 2025, Chipotle shares were priced at $40.93, down 28% over the past year and lagging the S&P 500 by more than 45 percentage points over that same timeframe.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $11.58 billion |
| Net Income (TTM) | $1.54 billion |
| Market Cap (as of market close October 7) | $54.9 billion |
| Price (as of market close October 7) | $40.93 |
Company Snapshot
Chipotle is a fast casual restaurant chain that operates approximately 3,000 restaurants in the United States, Canada, the United Kingdom, France, Germany, and other European countries.
The company targets a broad customer base in the United States and select markets internationally. The company was founded in 1993.
Foolish take
With Chipotle shares down nearly 30% over the past year, it's not surprising to see institutional investors making a calculated bet on a turnaround for this well-known restaurant brand. In the case of Eastover, this recent purchase represents approximately 1.4% of its AUM so this is hardly a big bet. That said, it does indicate the belief that Chipotle has brighter days ahead.
For that brighter future to come to fruition, Chipotle is going to need to reverse its trend of declining same store sales. In the most recent quarter, comparable restaurant sales were down 4% year over year, the second consecutive quarter of negative growth. The same quarter saw revenue slow for the second quarter in a row.
It's important to note that these results may have been worse if not for menu price increased of 1.9% in the quarter. Companies that raise prices risk turning off customers. While this pricing increase may have helped soften the blow of this quarters results, there's a chance they've harmed the business in the longer term if customers no longer view the restaurant as a good value proposition.
Management attributed these results to the macroeconomic environment, and believes that this trend will reverse. It seems Eastover believes the same thing.
Glossary
13F assets under management (AUM): The total value of securities reported by an institutional investment manager in quarterly SEC Form 13F filings.
Quarter ended: The last day of a three-month financial reporting period for a company or fund.
Post-trade position: The total number of shares or value held in a security after a transaction is completed.
Stake: The proportion of ownership or investment a fund or individual holds in a company.
Top holdings: The largest investments by value within a fund's portfolio.
Lagging the S&P 500: Underperforming the S&P 500 index over a specified period.
Filing: An official document submitted to a regulatory authority, such as the SEC, disclosing financial or ownership information.
TTM: The 12-month period ending with the most recent quarterly report.
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Jeff Santoro has positions in Apple, Broadcom, Chipotle Mexican Grill, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Apple, Chipotle Mexican Grill, Microsoft, and Nvidia. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft, short December 2025 $45 calls on Chipotle Mexican Grill, and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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