State of Michigan Retirement System’s Dutch Bros BROS Stock Holding History

State of Michigan Retirement System’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 Q2	$2.14M	Sell	29,800 -800	-3%	-$45.9K	0.01%	685
2026 Q1	$1.55M	Buy	+30,600	New	+$1.67M	0.01%	736
2025 Q4	–	Sell	-180,000	Closed	-$9.42M	–	937
2025 Q3	$9.42M	Hold	180,000	–	–	0.05%	302
2025 Q2	$12.3M	Hold	180,000	–	–	0.06%	246
2025 Q1	$11.1M	Hold	180,000	–	–	0.06%	259
2024 Q4	$9.43M	Hold	180,000	–	–	0.05%	288
2024 Q3	$5.77M	Hold	180,000	–	–	0.03%	391
2024 Q2	$7.45M	Hold	180,000	–	–	0.04%	326
2024 Q1	$5.94M	Hold	180,000	–	–	0.03%	371
2023 Q4	$5.7M	Hold	180,000	–	–	0.03%	363
2023 Q3	$4.18M	Hold	180,000	–	–	0.03%	425
2023 Q2	$5.12M	Hold	180,000	–	–	0.03%	391
2023 Q1	$5.69M	Hold	180,000	–	–	0.04%	360
2022 Q4	$5.07M	Hold	180,000	–	–	0.04%	379
2022 Q3	$5.61M	Hold	180,000	–	–	0.04%	339
2022 Q2	$5.7M	Buy	+180,000	New	+$7.38M	0.04%	343
2022 Q1	–	Sell	-180,000	Closed	-$9.16M	–	951
2021 Q4	$9.16M	Hold	180,000	–	–	0.05%	277
2021 Q3	$7.8M	Buy	+180,000	New	+$8.55M	0.04%	288

Other funds holding BROS

Fidelity Investments Boston, Massachusetts $2.3T AUM 54.33% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $999B AUM 46.22% 1-Year Est. Return

Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM

Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM

T. Rowe Price Investment Management Baltimore, Maryland $153B AUM 38.14% 1-Year Est. Return

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $580B AUM 38.23% 1-Year Est. Return

Baillie Gifford & Co Edinburgh, United Kingdom $110B AUM 4.8% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return

State of Michigan Retirement System's BROS Position: Q2 2026 in Review

State of Michigan Retirement System reduced its Dutch Bros (BROS) stake by 2.6% in Q2 2026, selling an estimated $45.9K and leaving 29,800 shares worth $2.14M. The position accounts for 0.01% of the portfolio, ranked #685.

State of Michigan Retirement System first reported a position in BROS in Q3 2021 and has held it in 18 quarters since. The position peaked at $12.3M in Q2 2025. 554 funds tracked by Wall St. Rank hold BROS as of Q2 2026.

State of Michigan Retirement System held 29,800 shares of Dutch Bros worth $2.14M as of Q2 2026.
State of Michigan Retirement System sold 800 Dutch Bros shares in Q2 2026, an estimated $45.9K.
Dutch Bros made up 0.01% of State of Michigan Retirement System's portfolio in Q2 2026, its #685 holding.
State of Michigan Retirement System first reported a position in Dutch Bros in Q3 2021 and has held it in 18 quarters since.
State of Michigan Retirement System's Dutch Bros position peaked at $12.3M in Q2 2025.
554 funds tracked by Wall St. Rank held Dutch Bros as of Q2 2026.

Based on State of Michigan Retirement System's 13F filing for Q2 2026, filed 30 Jul 2026.