What smart money is saying about Chipotle
4 funds in our archive have pitched Chipotle, most recently Artisan Partners Global Opportunities Fund in September 2026.
Chipotle Mexican Grill, Inc., along with its affiliated companies, oversees the ownership and daily running of Chipotle Mexican Grill eateries. By February 15, 2022, its global presence included roughly 3,000 restaurant locations spread across the United States, Canada, the United Kingdom, France, Germany, and other parts of Europe. The company was established in 1993 and maintains its principal office in Newport Beach, California.
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Fund signal · last 12 months
6 lettersToo few moves on Chipotle yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q3 2026, 10 fund letters reported a position in Chipotle, with 5 buys (opened or added) and 2 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 4 | 2 | 1 | 1 |
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q4 2025 | 1 | 1 | 0 | 1 |
| Q3 2025 | 2 | 0 | 1 | 0 |
| Q2 2025 | 1 | 1 | 0 | 0 |
| Q1 2025 | 1 | 1 | 0 | 0 |
| Q4 2024 | 0 | 0 | 0 | 2 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 10 positions · 8 moves
- September 2026
“During the quarter, we closed short positions in Bending Spoons SpA (BSP), Chipotle Mexican Grill (CMG), The Ensign Group (ENSG), Gemini Space Station (GEMI), Jersey Mike's Subs (JMKE), Moderna (MRNA), Reformation (REF), Once Upon a Farm (OFRM), and X-Energy Inc. (XE).”
Chipotle - New positionCambiar Investors Opportunity FundSeptember 2026
“Trade activity in the quarter consisted of five new purchases and four liquidations, in addition to select adds/trims to existing positions. Where are we finding value? It’s been a bit of a “hit ’em where they ain’t” approach. New positions included Expand Energy, The Southern Company, and Chipotle.”
Chipotle - New positionArtisan Partners Global Opportunities FundSeptember 2026
“Chipotle is a leading fast-casual restaurant operator with a strong brand, differentiated value proposition and a long runway for unit growth, in our view. We initiated a GardenSM position following a significant pullback in the stock price as traffic began to stabilize and expectations had reset to more conservative levels.”
Chipotle - New positionArtisan Partners Global Opportunities StrategySeptember 2026
“Chipotle is a leading fast-casual restaurant operator with a strong brand, differentiated value proposition and a long runway for unit growth, in our view. We initiated a GardenSM position following a significant pullback in the stock price as traffic began to stabilize and expectations had reset to more conservative levels.”
Chipotle - June 2026
“Chipotle Mexican Grill (CMG): Despite occasional market anxiety over margin pressures or temporary same-store sales blips, CMG boasts superior unit economics, a pristine balance sheet, and a clear, multi-year runway for new store expansion.”
Chipotle - New positionParnassus Mid Cap FundDecember 2025
“Our third addition was Chipotle Mexican Grill, the fast-casual restaurant chain.”
Chipotle - ExitedGabelli Global GrowthSeptember 2025
“We eliminated a position in Chipotle Mexican Grill, which we believe is facing more challenging growth prospects ahead.”
Chipotle - September 2025
“Chipotle Mexican Grill faced difficult comps amid a management transition and pulled back alongside its fast-casual restaurant peers, with losses further exacerbated by narratives surrounding growing market competition and saturation.”
Chipotle - June 2025
“Outside of the trades associated with the name swaps, we also made a number of strategic trims and adds to optimize existing position sizes in response to attractive price dynamics, including redeploying capital raised from partial sells of our positions in Intuit, ServiceNow and Uber on strength in order to fund incremental additions to Marvell, Datadog, and Chipotle on relative weakness.”
Chipotle - New positionParnassus Mid Cap Growth FundMarch 2025
“Bought Chipotle Mexican Grill, Inc. CMG Consumer Discretionary Chipotle is a leader in the fast casual dining category, bolstered by its strong brand affinity and value proposition.”
Chipotle
Also mentioned · 1
These funds discuss Chipotle as a competitor, benchmark or comparable, without disclosing a position in it.
- June 2025
“We sold Starbucks Corporation (SBUX, 2.5 conviction) during the quarter as its price exceeded our assessed value. The stock surged 20% after former Chipotle CEO Brian Niccol was named CEO.”
Chipotle
Fund coverage · 4 theses
- Artisan Partners Global Opportunities FundSeptember 2026
Chipotle has a strong brand and long unit-growth runway, with execution initiatives aimed at restoring sales growth.
Read the full thesis - Parnassus Mid Cap FundDecember 2025
Chipotle Mexican Grill Inc. is a fast-casual leader with strong brand and a unique value proposition, with new initiatives and easing inflation expected to reaccelerate growth.
Read the full thesis - Clearbridge All Cap Growth StrategyDecember 2024
Chipotle Mexican Grill is an attractive investment opportunity due to its strong unit economics, growth plans to double its store footprint, and potential for margin expansion through technological enhancements.
Read the full thesis - Clearbridge Growth StrategyDecember 2024
Chipotle Mexican Grill is a compelling investment opportunity due to its attractive entry point after recent share pullbacks, strong unit economics, plans for store expansion, and initiatives aimed at driving growth and margin expansion.
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