Dimensional Fund Advisors holds 2,596,946 First Watch (NASDAQ: FWRG) shares

Rhea-AI Filing Summary

Dimensional Fund Advisors LP, an investment adviser and Delaware limited partnership, reports beneficial ownership of 2,596,946 First Watch Restaurant Group common shares, representing 4.2% of the class for Section 13(d) purposes.

Dimensional has sole voting power over 2,548,617 shares and sole dispositive power over 2,596,946 shares, with no shared voting or dispositive power. All securities are owned by underlying funds advised by Dimensional, which disclaims beneficial ownership, and each fund’s interest is below 5% of the class.

Key Figures

Shares beneficially owned: 2,596,946 shares Percent of class: 4.2% Sole voting power: 2,548,617 shares +3 more

6 metrics

Shares beneficially owned 2,596,946 shares Reported as beneficially owned for Section 13(d) purposes

Percent of class 4.2% Portion of First Watch common stock class reported as held

Sole voting power 2,548,617 shares Shares over which Dimensional can vote or direct the vote

Shared voting power 0 shares No shared power to vote or direct the vote

Sole dispositive power 2,596,946 shares Shares over which Dimensional can dispose or direct disposition

Shared dispositive power 0 shares No shared power to dispose or direct disposition

Key Terms

beneficial owner, Sole Dispositive Power, Investment Company Act of 1940, Section 13(d) of the Securities Exchange Act of 1934, +1 more

5 terms

beneficial owner financial

"may be deemed to be the beneficial owner of the shares of the Issuer"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Sole Dispositive Power financial

"Sole Dispositive Power 2,596,946.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Investment Company Act of 1940 regulatory

"investment companies registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

Section 13(d) of the Securities Exchange Act of 1934 regulatory

"for any other purposes than Section 13(d) of the Securities Exchange Act of 1934"

Section 13(d) of the Securities Exchange Act of 1934 is a U.S. rule that requires anyone who buys more than 5% of a public company’s shares to publicly disclose who they are, how many shares they own, and their intentions toward the company. For investors, this is like a neighborhood alert when someone acquires a large stake in a building: it reveals potential changes in control or strategy that could affect the stock’s price, governance, or future direction.

separate accounts financial

"commingled funds, group trusts and separate accounts (such investment companies, trusts and accounts"

Separate accounts are pools of investments that a financial firm keeps apart from its main assets to manage for a specific client, insurance product, or institutional mandate. They matter to investors because the account’s gains, losses and risks apply only to the clients linked to it rather than the firm overall, so returns and protections can differ from pooled or company‑backed assets—think of it like a private toolbox reserved for a single job instead of shared with everyone.

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Available on EDGAR 07/14/2026 - 01:29 PM Accepted by SEC EDGAR 07/14/2026 - 01:27 PM Learn about SEC filing dates

FAQ

What stake in First Watch Restaurant Group (FWRG) does Dimensional Fund Advisors report?

Dimensional Fund Advisors reports beneficial ownership of 2,596,946 First Watch Restaurant Group common shares, representing 4.2% of the class for Section 13(d) purposes. The shares are held across multiple funds it advises.

How much voting power over FWRG shares does Dimensional Fund Advisors have?

Dimensional Fund Advisors has sole power to vote or direct the vote for 2,548,617 First Watch shares and no shared voting power. This reflects its authority over the funds’ holdings, while it disclaims ultimate beneficial ownership.

Does Dimensional Fund Advisors control the disposition of its FWRG holdings?

Dimensional Fund Advisors has sole power to dispose or direct the disposition of 2,596,946 First Watch common shares and no shared dispositive power. These shares are owned by underlying funds for which Dimensional acts as adviser or manager.

Is Dimensional Fund Advisors’ ownership of FWRG above 5% of the stock class?

No. Dimensional Fund Advisors reports holding 4.2% of First Watch Restaurant Group’s common stock. The ownership is explicitly described as 5 percent or less of the class under the Section 13(d) reporting framework.

Who ultimately receives dividends and sale proceeds from the FWRG shares managed by Dimensional Fund Advisors?

According to the disclosure, the underlying funds advised by Dimensional Fund Advisors have the right to receive dividends and sale proceeds from the First Watch shares held in their accounts. No single fund’s interest exceeds 5% of the class.

How does Dimensional Fund Advisors characterize its beneficial ownership of FWRG shares?

Dimensional Fund Advisors may be deemed the beneficial owner because it has voting and investment power over the funds’ shares, but it expressly disclaims beneficial ownership of all such securities beyond what is required for Section 13(d) reporting.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

First Watch Restaurant Group Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

33748L101

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 33748L101

1

Names of Reporting Persons

Dimensional Fund Advisors LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,548,617.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,596,946.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,596,946.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: First Watch Restaurant Group Inc
(b)	Address of issuer's principal executive offices: 8725 Pendery Place, Suite 201, Bradenton, FL 34201
Item 2.
(a)	Name of person filing: Dimensional Fund Advisors LP
(b)	Address or principal business office or, if none, residence: 6300 Bee Cave Road, Building One, Austin, TX 78746
(c)	Citizenship: Delaware Limited Partnership
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 33748L101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,596,946 ** see Note 1 ** ** Note 1 ** Dimensional Fund Advisors LP, an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to four investment companies registered under the Investment Company Act of 1940, and serves as investment manager or sub-adviser to certain other commingled funds, group trusts and separate accounts (such investment companies, trusts and accounts, collectively referred to as the "Funds"). In certain cases, subsidiaries of Dimensional Fund Advisors LP may act as an adviser or sub-adviser to certain Funds. In its role as investment advisor, sub-adviser and/or manager, Dimensional Fund Advisors LP or its subsidiaries (collectively, "Dimensional") may possess voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deemed to be the beneficial owner of the shares of the Issuer held by the Funds. However, all securities reported in this schedule are owned by the Funds. Dimensional disclaims beneficial ownership of such securities. In addition, the filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any other purposes than Section 13(d) of the Securities Exchange Act of 1934.
(b)	Percent of class: 4.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,548,617** see Note 1 **
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,596,946** see Note 1 **
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Funds described in Note 1 above have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the securities held in their respective accounts. To the knowledge of Dimensional, the interest of any one such Fund does not exceed 5% of the class of securities. Dimensional Fund Advisors LP disclaims beneficial ownership of all such securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dimensional Fund Advisors LP

Signature:	Selwyn Notelovitz
Name/Title:	Global Chief Compliance Officer
Date:	07/14/2026