Joho Capital’s Dutch Bros BROS Stock Holding History

Joho Capital’s Portfolio BROS Stock Details BROS Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$71.9M	Hold	1,418,394	–	–	19.26%	2
2025 Q4	$86.8M	Hold	1,418,394	–	–	18.53%	2
2025 Q3	$74.2M	Sell	1,418,394 -336,395	-19%	-$21.3M	13.19%	3
2025 Q2	$120M	Sell	1,754,789 -164,725	-9%	-$10.7M	16.9%	2
2025 Q1	$119M	Hold	1,919,514	–	–	20.47%	2
2024 Q4	$101M	Hold	1,919,514	–	–	17.45%	2
2024 Q3	$61.5M	Buy	1,919,514 +555,000	+41%	+$19.6M	9.71%	4
2024 Q2	$56.5M	Hold	1,364,514	–	–	7.99%	6
2024 Q1	$45M	Buy	1,364,514 +1,106,511	+429%	+$32.6M	6.25%	6
2023 Q4	$8.17M	Buy	258,003 +3,200	+1%	+$87.2K	1.48%	9
2023 Q3	$5.92M	Buy	+254,803	New	+$7.26M	1.33%	11
2023 Q2	–	Sell	-356,803	Closed	-$11.3M	–	21
2023 Q1	$11.3M	Buy	+356,803	New	+$12.1M	2.9%	8

Other funds holding BROS

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

VPM

Vanguard Portfolio Management Malvern, Pennsylvania $1.91T AUM

T. Rowe Price Investment Management Baltimore, Maryland $145B AUM 22.78% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Millennium Management New York $240B AUM 35.51% 1-Year Est. Return

Baillie Gifford & Co Edinburgh, United Kingdom $97.9B AUM 20.73% 1-Year Est. Return

Joho Capital's BROS Position: Q1 2026 in Review

Joho Capital held its Dutch Bros (BROS) position steady in Q1 2026 at 1,418,394 shares worth $71.9M. The position accounts for 19.26% of the portfolio, ranked #2.

Joho Capital first reported a position in BROS in Q1 2023 and has held it in 12 quarters since. The position peaked at $120M in Q2 2025. 506 funds tracked by Wall St. Rank hold BROS as of Q1 2026.

Joho Capital held 1,418,394 shares of Dutch Bros worth $71.9M as of Q1 2026.
Joho Capital left its Dutch Bros share count unchanged in Q1 2026.
Dutch Bros made up 19.26% of Joho Capital's portfolio in Q1 2026, its #2 holding.
Joho Capital first reported a position in Dutch Bros in Q1 2023 and has held it in 12 quarters since.
Joho Capital's Dutch Bros position peaked at $120M in Q2 2025.
506 funds tracked by Wall St. Rank held Dutch Bros as of Q1 2026.

Based on Joho Capital's 13F filing for Q1 2026, filed 15 May 2026.