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Pacific Grove Today
By the People, for the People
Deepwater Asset Management Boosts Stake in First Watch Restaurant Group
Investment firm increases ownership in fast-casual breakfast and brunch chain
Published on Mar. 4, 2026
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Deepwater Asset Management LLC has increased its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 14.8%, adding 93,662 shares during the third quarter. The investment firm now owns 724,714 shares, or approximately 1.19% of the company's outstanding stock, making it one of First Watch's largest institutional investors.
Why it matters
The increased investment by Deepwater Asset Management signals confidence in First Watch's growth potential. As a prominent institutional investor, Deepwater's stake in the company could influence other investors and provide validation of First Watch's business model and strategy.
The details
According to a recent SEC filing, Deepwater Asset Management acquired the additional 93,662 shares of First Watch Restaurant Group during the third quarter of 2026. This increased the firm's total position to 724,714 shares, worth approximately $11.3 million based on the stock's closing price at the end of the reporting period.
- Deepwater Asset Management increased its stake in First Watch during the third quarter of 2026.
- The investment firm now owns approximately 1.19% of First Watch's outstanding shares.
The players
Deepwater Asset Management LLC
An investment management firm that has increased its stake in First Watch Restaurant Group, Inc.
First Watch Restaurant Group, Inc.
A specialty daytime dining concept focused on breakfast, brunch and lunch, operating a chain of casual, full-service cafés.
The takeaway
Deepwater Asset Management's increased stake in First Watch Restaurant Group suggests the investment firm sees strong growth opportunities for the breakfast and brunch chain. This could signal positive momentum for the company as it looks to expand its footprint and capitalize on consumer demand for its fresh, made-to-order menu offerings.
