Riverbridge Partners Reduces Stake in First Watch Restaurant Group

Investment firm cuts holdings in the daytime dining chain by 7.8% in Q4 2025

Mar. 27, 2026 at 10:38am

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Riverbridge Partners LLC, an investment management firm, decreased its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 7.8% during the fourth quarter of 2025. Riverbridge Partners now owns 1,096,029 shares, or 1.80% of the company's stock, worth $16,528,000.

Why it matters

First Watch is a popular daytime-only restaurant chain focused on breakfast, brunch and lunch. Riverbridge Partners' reduced stake in the company could signal broader investor sentiment or concerns about the restaurant industry's performance.

The details

Riverbridge Partners sold 92,505 shares of First Watch Restaurant Group during the fourth quarter. The investment firm now owns 1,096,029 shares, or 1.80% of the company's outstanding stock, worth $16,528,000 as of the end of the reporting period.

  • Riverbridge Partners reduced its stake in First Watch during the fourth quarter of 2025.

The players

Riverbridge Partners LLC

An investment management firm that decreased its holdings in First Watch Restaurant Group, Inc. by 7.8% in Q4 2025.

First Watch Restaurant Group, Inc.

A specialty daytime dining concept focused on breakfast, brunch and lunch, with a seasonally driven menu and an emphasis on fresh ingredients.

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The takeaway

Riverbridge Partners' reduced stake in First Watch Restaurant Group could signal broader investor concerns about the restaurant industry's performance, though the chain's daytime-only focus and fresh, seasonal menu may help it weather any economic headwinds.