Here’s What Hit Chipotle Mexican Grill (CMG) in Q3

Group 1 - Brown Advisory Mid-Cap Growth Strategy underperformed its benchmark, the Russell Midcap® Growth Index, which increased approximately 3% in Q3 2025 [1] - Chipotle Mexican Grill, Inc. (NYSE:CMG) had a one-month return of 23.99% but lost 39.05% of its value over the last 52 weeks, closing at $37.00 per share with a market capitalization of $48.92 billion on December 17, 2025 [2] - The investor letter indicated that Chipotle's shares declined due to a second consecutive comparable sales miss, raising concerns about macroeconomic conditions versus a mature growth profile [3] Group 2 - Chipotle's sales for Q3 2025 grew 7.5% to reach $3 billion, but the company is not among the 30 most popular stocks among hedge funds, with 65 hedge fund portfolios holding its stock at the end of Q3, down from 68 in the previous quarter [4] - Despite acknowledging Chipotle's potential as an investment, the company is viewed as having less upside compared to certain AI stocks, which are considered to carry less downside risk [4]