Who owns Dutch Bros (BROS)
Which tracked institutional funds hold BROS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See BROS company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
209 tracked funds added or opened BROS while 84 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
BROS’s largest tracked holder by dollar value, FMR LLC, sizes it at 0.1% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in BROS divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 518 tracked filers holding BROS, 267 increased or opened the position and 260 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in BROS between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 36
- Driehaus Capital Management LLC$80M
- Hyperion Asset Management Ltd$43M
- OSTERWEIS CAPITAL MANAGEMENT INC$14M
- KEYSTONE INVESTORS PTE LTD$14M
- Jump Financial, LLC$13M
- CIBC Bancorp USA Inc.$12M
Full exits 45
- T. Rowe Price Investment Management, Inc.$235M
- MANE GLOBAL CAPITAL MANAGEMENT LP$38M
- Holocene Advisors, LP$30M
- Delta Global Management LP$13M
- SG Americas Securities, LLC$5M
- Amundi$4M
Largest adds
- FMR LLC$719M
- BlackRock, Inc.$484M
- PRICE T ROWE ASSOCIATES INC /MD/$302M
- VANGUARD PORTFOLIO MANAGEMENT LLC$149M
- VANGUARD CAPITAL MANAGEMENT LLC$147M
- WELLINGTON MANAGEMENT GROUP LLP$108M
Largest trims
- MILLENNIUM MANAGEMENT LLC$158M
- UBS Group AG$122M
- Point72 Asset Management, L.P.$117M
- BALYASNY ASSET MANAGEMENT L.P.$64M
- FULLER & THALER ASSET MANAGEMENT, INC.$60M
- Woodline Partners LP$52M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| FMR LLC added | 16,724,132 | $1.2B | 14.1% | 2026-Q2 |
| BlackRock, Inc. added | 14,662,985 | $1.1B | 12.4% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 9,593,935 | $689M | 8.1% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 6,066,585 | $436M | 5.1% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 5,938,536 | $426M | 5.0% | 2026-Q2 |
| STATE STREET CORP added | 3,851,321 | $277M | 3.3% | 2026-Q2 |
| WELLINGTON MANAGEMENT GROUP LLP added | 3,090,882 | $222M | 2.6% | 2026-Q2 |
| BAILLIE GIFFORD & CO trimmed | 2,738,885 | $197M | 2.3% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC trimmed | 2,483,555 | $178M | 2.1% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 2,210,958 | $159M | 1.9% | 2026-Q2 |
| WESTFIELD CAPITAL MANAGEMENT CO LP trimmed | 2,184,001 | $157M | 1.8% | 2026-Q2 |
| 1832 Asset Management L.P. added | 2,011,800 | $144M | 1.7% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 1,990,163 | $143M | 1.7% | 2026-Q2 |
| MORGAN STANLEY trimmed | 1,887,011 | $136M | 1.6% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 1,716,097 | $123M | 1.4% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 1,603,022 | $115M | 1.4% | 2026-Q2 |
| TSG Consumer Partners LP trimmed | 1,587,292 | $114M | 1.3% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 1,459,562 | $105M | 1.2% | 2026-Q2 |
| JOHO CAPITAL LLC | 1,418,394 | $102M | 1.2% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 1,259,865 | $90M | 1.1% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 1,206,398 | $87M | 1.0% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 1,186,470 | $85M | 1.0% | 2026-Q2 |
| UBS Group AG trimmed | 1,135,138 | $82M | 1.0% | 2026-Q2 |
| Driehaus Capital Management LLC added | 1,109,974 | $80M | 0.9% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 1,092,220 | $78M | 0.9% | 2026-Q2 |
| Bank of New York Mellon Corp added | 1,083,514 | $78M | 0.9% | 2026-Q2 |
| VOYA INVESTMENT MANAGEMENT LLC trimmed | 1,072,578 | $77M | 0.9% | 2026-Q2 |
| WASATCH ADVISORS LP added | 1,038,903 | $75M | 0.9% | 2026-Q2 |
| NORGES BANK trimmed | 1,027,033 | $74M | 0.9% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. trimmed | 999,925 | $72M | 0.8% | 2026-Q2 |
| NORTHERN TRUST CORP trimmed | 963,042 | $69M | 0.8% | 2026-Q2 |
| Stephens Investment Management Group LLC added | 934,504 | $67M | 0.8% | 2026-Q2 |
| Squarepoint Ops LLC trimmed | 881,257 | $63M | 0.7% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 874,086 | $63M | 0.7% | 2026-Q2 |
| Clearbridge Investments, LLC added | 871,582 | $63M | 0.7% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 829,201 | $60M | 0.7% | 2026-Q2 |
| CANADA PENSION PLAN INVESTMENT BOARD trimmed | 664,039 | $48M | 0.6% | 2026-Q2 |
| OBERWEIS ASSET MANAGEMENT INC/ added | 656,093 | $47M | 0.6% | 2026-Q2 |
| CONGRESS ASSET MANAGEMENT CO added | 648,457 | $47M | 0.5% | 2026-Q2 |
| Danica Pension, Livsforsikringsaktieselskab trimmed | 618,516 | $44M | 0.5% | 2026-Q2 |
| Hyperion Asset Management Ltd new | 598,044 | $43M | 0.5% | 2026-Q2 |
| LPL Financial LLC added | 596,446 | $43M | 0.5% | 2026-Q2 |
| Freestone Grove Partners LP trimmed | 579,389 | $42M | 0.5% | 2026-Q2 |
| Invesco Ltd. trimmed | 528,431 | $38M | 0.4% | 2026-Q2 |
| Baird Financial Group, Inc. added | 524,569 | $38M | 0.4% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 503,315 | $36M | 0.4% | 2026-Q2 |
| FEDERATED HERMES, INC. trimmed | 492,783 | $35M | 0.4% | 2026-Q2 |
| Allspring Global Investments Holdings, LLC trimmed | 481,250 | $35M | 0.4% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 379,740 | $27M | 0.3% | 2026-Q2 |
| JENNISON ASSOCIATES LLC trimmed | 360,198 | $26M | 0.3% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 341,153 | $24M | 0.3% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 336,354 | $24M | 0.3% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 332,868 | $24M | 0.3% | 2026-Q2 |
| Point72 Asset Management, L.P. trimmed | 328,545 | $24M | 0.3% | 2026-Q2 |
| RIVERBRIDGE PARTNERS LLC trimmed | 317,628 | $23M | 0.3% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 314,492 | $23M | 0.3% | 2026-Q2 |
| Nuveen, LLC added | 307,157 | $22M | 0.3% | 2026-Q2 |
| WHITTIER TRUST CO added | 285,721 | $19M | 0.2% | 2026-Q2 |
| Trexquant Investment LP added | 280,437 | $20M | 0.2% | 2026-Q2 |
| CIBC Bancorp USA Inc. new | 272,061 | $12M | 0.1% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 260,489 | $19M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 255,400 | $18M | 0.2% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 253,036 | $19M | 0.2% | 2026-Q2 |
| Shellback Capital, LP trimmed | 247,000 | $18M | 0.2% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 246,559 | $18M | 0.2% | 2026-Q2 |
| Crestwood Capital Management, L.P. trimmed | 234,569 | $17M | 0.2% | 2026-Q2 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ trimmed | 233,181 | $17M | 0.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 231,399 | $17M | 0.2% | 2026-Q2 |
| SILVERCREST ASSET MANAGEMENT GROUP LLC added | 213,035 | $15M | 0.2% | 2026-Q2 |
| NEXT CENTURY GROWTH INVESTORS LLC trimmed | 203,529 | $15M | 0.2% | 2026-Q2 |
| OSTERWEIS CAPITAL MANAGEMENT INC added | 201,610 | $14M | 0.2% | 2026-Q2 |
| KEYSTONE INVESTORS PTE LTD added | 197,848 | $14M | 0.2% | 2026-Q2 |
| TD Asset Management Inc trimmed | 197,164 | $14M | 0.2% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 195,146 | $14M | 0.2% | 2026-Q2 |
| Impax Asset Management Group plc added | 195,000 | $14M | 0.2% | 2026-Q2 |
| Concurrent Investment Advisors, LLC trimmed | 183,322 | $13M | 0.2% | 2026-Q2 |
| Jump Financial, LLC added | 176,981 | $13M | 0.1% | 2026-Q2 |
| Granite Investment Partners, LLC added | 172,303 | $12M | 0.1% | 2026-Q2 |
| Legal & General Group Plc trimmed | 166,338 | $12M | 0.1% | 2026-Q2 |
| Interval Partners, LP trimmed | 164,725 | $12M | 0.1% | 2026-Q2 |
| Mitsubishi UFJ Trust & Banking Corp trimmed | 164,424 | $12M | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 156,706 | $11M | 0.1% | 2026-Q2 |
| BROWN BROTHERS HARRIMAN & CO trimmed | 155,362 | $11M | 0.1% | 2026-Q2 |
| Cullen/Frost Bankers, Inc. added | 153,973 | $11M | 0.1% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC added | 152,819 | $11M | 0.1% | 2026-Q2 |
| STIFEL FINANCIAL CORP trimmed | 151,108 | $11M | 0.1% | 2026-Q2 |
| ASHFORD CAPITAL MANAGEMENT INC trimmed | 150,700 | $11M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 147,060 | $11M | 0.1% | 2026-Q2 |
| Cetera Investment Advisers added | 145,990 | $10M | 0.1% | 2026-Q2 |
| WHITTIER TRUST CO OF NEVADA INC added | 143,025 | $9M | 0.1% | 2026-Q2 |
| Aquatic Capital Management LLC added | 140,765 | $10M | 0.1% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 139,176 | $10M | 0.1% | 2026-Q2 |
| Mediolanum International Funds Ltd new | 138,116 | $10M | 0.1% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC added | 136,865 | $10M | 0.1% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 135,431 | $10M | 0.1% | 2026-Q2 |
| Retirement Systems of Alabama trimmed | 131,965 | $9M | 0.1% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. trimmed | 130,029 | $9M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 120,282 | $9M | 0.1% | 2026-Q2 |
| Universal- Beteiligungs- und Servicegesellschaft mbH added | 117,660 | $8M | 0.1% | 2026-Q2 |
| Pembroke Management, LTD added | 114,750 | $8M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.