Dutch Bros
BROS
450 hedge funds and large institutions have $5.98B invested in Dutch Bros in 2025 Q3 according to their latest regulatory filings, with 62 funds opening new positions, 191 increasing their positions, 128 reducing their positions, and 97 closing their positions.
49% more repeat investments, than reductions
Existing positions increased: 191 | Existing positions reduced: 128
6.75% more ownership
Funds ownership: 83.38% → 90.13% (+6.8%)
9% more call options, than puts
Call options by funds: $159M | Put options by funds: $145M
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
9% less funds holding
Funds holding: 492 → 450 (-42)
17% less capital invested
Capital invested by funds: $7.23B → $5.98B (-$1.25B)
36% less first-time investments, than exits
New positions opened: 62 | Existing positions closed: 97
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$201M |
| 2 |
Ninety One (UK)
London,
United Kingdom
|
+$163M |
| 3 |
Citadel Advisors
Miami,
Florida
|
+$124M |
| 4 |
Balyasny Asset Management
Chicago,
Illinois
|
+$76.1M |
| 5 |
Millennium Management
New York
|
+$44.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
D.E. Shaw & Co
New York
|
-$160M |
| 2 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
-$45.3M |
| 3 |
Renaissance Technologies
New York
|
-$33.6M |
| 4 |
Tudor Investment Corp
Stamford,
Connecticut
|
-$30.7M |
| 5 |
Bank of New York Mellon
New York
|
-$29.3M |
BROS Hedge Fund Activity: Q3 2025 in Review
450 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Dutch Bros (BROS) for Q3 2025, worth a combined $5.98B — down 17% from $7.23B a quarter earlier.
Sellers outnumbered buyers: 97 funds closed out of BROS and 62 opened new positions — a net loss of 35 holders — while 128 trimmed existing stakes and 191 added.
The largest buyer was T. Rowe Price Associates, adding an estimated $201M. The largest seller was D.E. Shaw & Co, cutting an estimated $160M.
- 450 institutional investors held Dutch Bros (BROS) as of Q3 2025, down from 492 in Q2 2025.
- Funds reported $5.98B of Dutch Bros stock for Q3 2025, down 17% quarter-over-quarter.
- 62 funds opened new Dutch Bros positions in Q3 2025 and 97 closed out, a net change of -35 holders.
- The largest Dutch Bros buyer in Q3 2025 was T. Rowe Price Associates, an estimated $201M added.
- The largest Dutch Bros seller in Q3 2025 was D.E. Shaw & Co, an estimated $160M sold.
Based on aggregated 13F filings for Q3 2025.