JPMorgan Chase Reduces Stake in First Watch Restaurant Group

Institutional investor sells off over 10% of shares in casual dining chain

Mar. 23, 2026 at 8:52am

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JPMorgan Chase & Co. has reduced its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 10.7% during the third quarter, according to a recent 13F filing with the Securities & Exchange Commission. The institutional investor now owns approximately 1.98 million shares, or about 3.24% of the company's stock, worth $30.9 million.

Why it matters

The reduction in JPMorgan Chase's holdings in First Watch Restaurant Group could signal a shift in investor sentiment around the casual dining chain. As one of the company's largest institutional investors, JPMorgan's move may influence how other funds and investors view the stock going forward.

The details

According to the 13F filing, JPMorgan Chase sold 236,486 shares of First Watch Restaurant Group stock during the third quarter. This reduced the firm's total stake in the company to 1,977,268 shares. First Watch is a daytime-focused casual dining concept that has been expanding its footprint in recent years.

  • JPMorgan Chase reduced its stake in the third quarter of 2026.

The players

JPMorgan Chase & Co.

A major American multinational investment bank and financial services company.

First Watch Restaurant Group, Inc.

A casual dining restaurant chain focused on breakfast, brunch and lunch.

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The takeaway

The reduction in JPMorgan Chase's stake in First Watch Restaurant Group could signal a shift in investor sentiment around the company's growth prospects. As a major institutional investor, JPMorgan's move may influence how other funds and analysts view the stock going forward.