Dimensional Fund Advisors (FWRG) reports 5.0% stake via advised funds

Rhea-AI Filing Summary

Dimensional Fund Advisors reported beneficial ownership of 3,084,886 shares of First Watch Restaurant Group Common Stock, representing 5.0% of the class as of 03/31/2026. The filing shows sole voting power over 3,037,508 shares and sole dispositive power over 3,084,886 shares. The report notes the shares are owned by investment funds advised or sub‑advised by Dimensional and that Dimensional disclaims beneficial ownership.

Insights

Institutional Ownership Analyst

Dimensional holds a 5.0% stake via advised funds; voting and dispositive powers are specified.

Dimensional Fund Advisors reports 3,084,886 shares (5.0%) of First Watch (as of 03/31/2026), with 3,037,508 shares under sole voting power. The filing attributes ownership to multiple funds for which Dimensional acts as adviser.

The filing is administrative: it documents fund holdings and voting/dispositive authority while disclaiming direct beneficial ownership. Subsequent filings could show changes in stake or voting status; timing in this excerpt is limited to the stated 03/31/2026 position.

Key Figures

Beneficially owned shares: 3,084,886 shares Percent of class: 5.0% Sole voting power: 3,037,508 shares +3 more

6 metrics

Beneficially owned shares 3,084,886 shares Amount beneficially owned as of 03/31/2026

Percent of class 5.0% Percent of common stock as of 03/31/2026

Sole voting power 3,037,508 shares Sole power to vote as stated in the filing

Sole dispositive power 3,084,886 shares Sole power to dispose of shares as stated in the filing

Position as of 03/31/2026 Reporting date for ownership figures

Filing signature date 04/09/2026 Signed by Global Chief Compliance Officer

Key Terms

Schedule 13G, beneficial ownership, sole dispositive power, Investment Company Act

4 terms

Schedule 13G regulatory

"Dimensional Fund Advisors reported beneficial ownership on Schedule 13G"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficial ownership financial

"Amount beneficially owned: 3,084,886"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 3,084,886"

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 regulatory

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

The Investment Company Act is a law that sets rules for businesses whose main activity is managing and selling pooled money, such as mutual funds and other investment funds. It matters to investors because it requires clear reporting, limits managers from putting their own interests ahead of clients, and mandates safekeeping and oversight of assets—similar to safety inspections and traffic rules that help keep shared vehicles reliable and trustworthy.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

First Watch Restaurant Group Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

33748L101

(CUSIP Number)

03/31/2026

(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 3,037,508.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,084,886.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,084,886.00

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)

5.0 %

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 Number(s): 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: 3,084,886 ** 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: 5.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,037,508** 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: 3,084,886** 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.
	Not Applicable
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:	04/09/2026

FAQ

What stake does Dimensional Fund Advisors report in FWRG?

Dimensional reports beneficial ownership of 3,084,886 shares, equal to 5.0% of First Watch common stock as of 03/31/2026. The filing attributes the shares to funds advised or sub‑advised by Dimensional rather than to Dimensional personally.

How much voting power does Dimensional control in FWRG?

Dimensional reports sole voting power over 3,037,508 shares of First Watch common stock as of 03/31/2026. The filing differentiates voting power from dispositive power held by funds advised by Dimensional.

Does Dimensional claim direct beneficial ownership of FWRG shares?

No; Dimensional disclaims beneficial ownership and states the reported shares are owned by funds it advises. The filing explains Dimensional may be deemed to have voting or investment power for those funds.

What date does the Schedule 13G position reference for FWRG?

The ownership position is reported as of 03/31/2026. The filing is signed and dated 04/09/2026 by Dimensional's Global Chief Compliance Officer, confirming the reporting period.

Why are multiple funds mentioned in the filing for FWRG?

Dimensional advises or sub‑advises several funds, trusts, and accounts that collectively hold the reported shares. The filing states the shares are owned by those Funds and lists their advisory relationship.