First Watch Restaurant Group, Inc.
First Watch Restaurant Group, Inc. (FWRG) Stock Ownership
Institutional vs insider vs public ownership from 13F and float data — top holders, activity, and insider trades below.
SEC 13F · FMP · FWRG · as of Sep 30, 2025
Ownership Breakdown
189
Institutional Holders
▲ 19 vs Q2
$1.14B
Total Inst. Value
▲ $18.17M vs Q2
61.64M
Shares Outstanding
freeFloat 97.72%
72.59M
13F Shares Held
▲ 2.89M vs Q2
Institutional ownership = 13F shares ÷ total outstanding. Insider % = 100 − free float. Public % = free float − institution %. Data: FMP /symbol-positions-summary + /shares-float + SEC EDGAR.
Top Institutional Holders
FWRG largest shareholders · institutional ownership
Q3 2025 · SEC 13F
Showing top 10 holders
| Holder | Shares | % Owned | Weight | Value | Reported | Change |
|---|---|---|---|---|---|---|
ADVENT INTERNATIONAL CORP/MA retail-eating places | 5.29M | 8.67% | 8.67% | $82.73B | Nov 14, 2025 | ▼ 9.40M |
BLACKROCK, INC. retail-eating places | 3.12M | 5.11% | 5.11% | $48.80B | Nov 12, 2025 | ▲ 226.0K |
VANGUARD GROUP INC retail-eating places | 2.89M | 4.73% | 4.73% | $45.17B | Nov 7, 2025 | ▲ 443.8K |
FMR LLC retail-eating places | 2.54M | 4.17% | 4.17% | $39.79B | Nov 13, 2025 | ▲ 398.7K |
DIMENSIONAL FUND ADVISORS LP retail-eating places | 2.44M | 4.00% | 4.00% | $38.21B | Nov 12, 2025 | ▲ 69.4K |
GILDER GAGNON HOWE & CO LLC retail-eating places | 2.15M | 3.52% | 3.52% | $33.56B | Nov 14, 2025 | ▼ 44.3K |
LAZARD ASSET MANAGEMENT LLC retail-eating places | 2.13M | 3.49% | 3.49% | $33.31B | Nov 14, 2025 | ▼ 151.6K |
JPMORGAN CHASE & CO retail-eating places | 1.98M | 3.24% | 3.24% | $30.92B | Nov 26, 2025 | ▼ 236.5K |
CHAMPLAIN INVESTMENT PARTNERS, LLC retail-eating places | 1.92M | 3.15% | 3.15% | $30.07B | Nov 12, 2025 | ▼ 30.8K |
BANK OF NEW YORK MELLON CORP retail-eating places | 1.87M | 3.07% | 3.07% | $29.26B | Nov 3, 2025 | ▲ 1.53M |
Data from SEC Form 13F filings. Ownership bar normalised to largest holder. Change flags: isNew / isSoldOut / changeInSharesNumber (FMP extract-analytics/holder).
Institutional Activity
Q3 2025 vs prior quarter
Q3 2025
34
Increased
+11.25M shares2
New Positions
first time holders12
Decreased
−10.92M shares0
Sold Out
fully exitedNet shares change (top 50)
+331.2K
+11.25M / −10.92M
Net new holders
+24
2 new / 0 exited
Based on top 50 institutional holders by position size. Fields: isNew, isSoldOut, changeInSharesNumber (FMP extract-analytics/holder, limit=50).
Insider Buying vs Selling
FWRG insider trading · insider activity
Source: SEC Form 4
Insiders have been primarily selling shares recently. Selling may be driven by pre-scheduled Rule 10b5-1 plans rather than negative sentiment.
8
Buy transactions
0
Sell transactions
0.00
Buy/Sell ratio
$0M
Total disposed
Recent Insider Transactions
Showing 10 most recent · Common Stock only
| Name · Role | Date | Type | Shares | Price | Value | After Trans. | Filing |
|---|---|---|---|---|---|---|---|
Britt Irene Chang director | May 21, 2026 | Award | 12,345 | — | — | 31.6K | Form 4 ↗ |
FLEISHER MICHAEL D director | May 21, 2026 | Award | 12,345 | — | — | 29.3K | Form 4 ↗ |
Alvarez Ralph director | May 21, 2026 | Award | 17,636 | — | — | 440.5K | Form 4 ↗ |
Solheim Jostein director | May 21, 2026 | Award | 12,345 | — | — | 31.6K | Form 4 ↗ |
Tipograph Rachel K director | May 21, 2026 | Award | 12,345 | — | — | 21.6K | Form 4 ↗ |
Jemley Charles director | May 21, 2026 | Award | 12,345 | — | — | 44.3K | Form 4 ↗ |
Lilak Stephanie director | May 21, 2026 | Award | 12,345 | — | — | 39.4K | Form 4 ↗ |
Kussell William A director | May 21, 2026 | Award | 12,345 | — | — | 38.7K | Form 4 ↗ |
Jones John Daniel Chief Operations Officer | Mar 17, 2026 | Sale | 1,697 | $12.52 | $21.2K | 84.7K | Form 4 ↗ |
Hartman Eric Richard Chief Development Officer | Mar 17, 2026 | Sale | 1,819 | $12.52 | $22.8K | 244.5K | Form 4 ↗ |
Source: /insider-trading/search (FMP stable). Buy/Sell direction: acquisitionOrDisposition A=Buy, D=Sell. RSU vesting (M-Exempt) excluded from sentiment bar. All data from SEC EDGAR public filings.
About institutional & insider ownership
First Watch Restaurant Group, Inc. (FWRG) is primarily owned by institutional investors, who hold approximately 100.0% of total shares outstanding. Company insiders own approximately 2.28%, while retail and public investors account for the remaining 0.00%.
The largest institutional shareholder of First Watch Restaurant Group, Inc. is ADVENT INTERNATIONAL CORP/MA, holding approximately 5.29 million shares — equal to 8.67% of outstanding shares — as of September 30, 2025.
A total of 189 institutional investors currently hold FWRG stock, with a combined institutional value of approximately $1.14 billion as of the most recent 13F filing period.
Frequently asked questions
FWRG ownershipFirst Watch Restaurant Group, Inc. (FWRG) is primarily owned by institutional investors, who hold approximately 100.0% of shares. The largest shareholder is ADVENT INTERNATIONAL CORP/MA with a 8.67% stake. Company insiders hold 2.28%. Data sourced from SEC Form 13F as of September 30, 2025.