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Dutch Bros
BROS

232 hedge funds and large institutions have $2.9B invested in Dutch Bros in 2023 Q4 according to their latest regulatory filings, with 71 funds opening new positions, 86 increasing their positions, 46 reducing their positions, and 29 closing their positions.

New
Increased
Maintained
Reduced
Closed

145% more first-time investments, than exits

New positions opened: 71 | Existing positions closed: 29

100% more funds holding in top 10

Funds holding in top 10: 2 → 4 (+2)

87% more repeat investments, than reductions

Existing positions increased: 86 | Existing positions reduced: 46

40% more capital invested

Capital invested by funds: $2.07B → $2.9B (+$826M)

22% more funds holding

Funds holding: 190 → 232 (+42)

10% less call options, than puts

Call options by funds: $72M | Put options by funds: $79.8M

49.99% less ownership

Funds ownership: 195.3% → 145.31% (-50%)

Holders
232
Holders Change
+42
Holders Change %
+22.11%
% of All Funds
3.38%
Holding in Top 10
4
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+100%
% of All Funds
0.06%
New
71
Increased
86
Reduced
46
Closed
29
Calls
$72M
Puts
$79.8M
Net Calls
-$7.78M
Net Calls Change
-$1.79M

Top Buyers

1
Point72 Asset Management
Point72 Asset Management
Connecticut
+$32M
2
DCM
Driehaus Capital Management
Illinois
+$24.8M
3
Citadel Advisors
Citadel Advisors
Florida
+$24.5M
4
Marshall Wace
Marshall Wace
United Kingdom
+$21.1M
5
Morgan Stanley
Morgan Stanley
New York
+$16.9M

Top Sellers

1
TCP
TSG Consumer Partners
California
-$189M
2
Fidelity Investments
Fidelity Investments
Massachusetts
-$20.9M
3
Alyeska Investment Group
Alyeska Investment Group
Illinois
-$5.78M
4
Invesco
Invesco
Georgia
-$5.61M
5
Walleye Capital
Walleye Capital
New York
-$4.53M
Name Holding Trade Value Shares
Change 		Change in
Stake
GCM
26
Ghisallo Capital Management
Massachusetts
$11.1M +$2.23M +81,846 +31%
Millennium Management
27
Millennium Management
New York
$10.6M +$9.13M +335,058 New
UBS Group
28
UBS Group
Switzerland
$10.4M +$4.97M +182,658 +126%
CCM
29
Crestwood Capital Management
New York
$10.2M +$29.9K +1,097 +0.3%
Charles Schwab
30
Charles Schwab
California
$9.4M +$386K +14,158 +5%
SC
31
Sculptor Capital
New York
$9.37M +$2.59M +95,200 +47%
Invesco
32
Invesco
Georgia
$9.21M -$5.61M -205,835 -41%
Verition Fund Management
33
Verition Fund Management
Connecticut
$9.19M +$3.86M +141,725 +96%
CSS
34
Cubist Systematic Strategies
Connecticut
$9.07M +$7.8M +286,362 New
State Street
35
State Street
Massachusetts
$8.91M +$1.18M +43,284 +18%
Jane Street
36
Jane Street
New York
$8.58M +$4.93M +180,927 +201%
JC
37
Joho Capital
New York
$8.17M +$87.2K +3,200 +1%
Barclays
38
Barclays
United Kingdom
$6.53M +$5.1M +187,302 +998%
ACM
39
Aquatic Capital Management
Illinois
$6.25M +$2.27M +83,500 +73%
LCM
40
Landscape Capital Management
New Jersey
$6.13M +$5.27M +193,602 New
CIA
41
Concurrent Investment Advisors
Florida
$5.74M +$4.93M +181,119 New
SOMRS
42
State of Michigan Retirement System
Michigan
$5.7M – – –
Allspring Global Investments
43
Allspring Global Investments
North Carolina
$5.69M -$1.28M -47,168 -21%
Northern Trust
44
Northern Trust
Illinois
$5.37M +$1.26M +46,187 +37%
HF
45
HRT Financial
New York
$5.18M +$4.45M +163,462 New
National Bank of Canada
46
National Bank of Canada
Quebec, Canada
$4.57M +$237K +8,700 +6%
William Blair & Company
47
William Blair & Company
Illinois
$4.54M +$123K +4,512 +3%
Two Sigma Investments
48
Two Sigma Investments
New York
$4.39M +$3.78M +138,740 New
State of Wisconsin Investment Board
49
State of Wisconsin Investment Board
Wisconsin
$4.36M +$432K +15,872 +13%
JF
50
Jump Financial
Illinois
$4.07M +$3.5M +128,500 New
1
2
3 4 5

BROS Hedge Fund Activity: Q4 2023 in Review

232 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in Dutch Bros (BROS) for Q4 2023, worth a combined $2.9B — up 40% from $2.07B a quarter earlier.

Buyers outnumbered sellers: 71 funds opened new BROS positions and 29 closed out — a net gain of 42 holders — while 86 added to existing stakes and 46 trimmed.

The largest buyer was Point72 Asset Management, opening a new position worth an estimated $32M. The largest seller was TSG Consumer Partners, cutting an estimated $189M.

  • 232 institutional investors held Dutch Bros (BROS) as of Q4 2023, up from 190 in Q3 2023.
  • Funds reported $2.9B of Dutch Bros stock for Q4 2023, up 40% quarter-over-quarter.
  • 71 funds opened new Dutch Bros positions in Q4 2023 and 29 closed out, a net change of +42 holders.
  • The largest Dutch Bros buyer in Q4 2023 was Point72 Asset Management, an estimated $32M added.
  • The largest Dutch Bros seller in Q4 2023 was TSG Consumer Partners, an estimated $189M sold.

Based on aggregated 13F filings for Q4 2023.