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Dutch 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.

New
Increased
Maintained
Reduced
Closed

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: 33 (0)

9% less funds holding

Funds holding: 492450 (-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

Holders
450
Holders Change
-42
Holders Change %
-8.54%
% of All Funds
5.91%
Holding in Top 10
3
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.04%
New
62
Increased
191
Reduced
128
Closed
97
Calls
$159M
Puts
$145M
Net Calls
+$13.7M
Net Calls Change
+$45.9M
Name Holding Trade Value Shares
Change
Change in
Stake
SIMG
76
Stephens Investment Management Group
Texas
$11.5M +$7.16M +113,257 +106%
SG Americas Securities
77
SG Americas Securities
New York
$11.2M -$6.12M -96,796 -31%
CAM
78
Congress Asset Management
Massachusetts
$11.1M +$13.5M +213,014 New
Barclays
79
Barclays
United Kingdom
$11.1M +$4.6M +72,731 +52%
JP Morgan Chase
80
JP Morgan Chase
New York
$10.7M +$3.11M +49,194 +32%
Stifel Financial
81
Stifel Financial
Missouri
$10.4M +$1.33M +20,968 +12%
California Public Employees Retirement System
82
California Public Employees Retirement System
California
$10.3M -$76.2K -1,205 -0.6%
AG
83
Algert Global
California
$10.2M +$4.86M +76,850 +65%
William Blair & Company
84
William Blair & Company
Illinois
$10.2M -$2.14M -33,844 -15%
O
85
Ossiam
France
$10.1M +$958K +15,149 +9%
Neuberger Berman Group
86
Neuberger Berman Group
New York
$9.7M -$1.43M -22,682 -11%
First Trust Advisors
87
First Trust Advisors
Illinois
$9.57M -$3.51M -55,514 -23%
Canada Pension Plan Investment Board
88
Canada Pension Plan Investment Board
Ontario, Canada
$9.5M +$3.35M +52,978 +41%
SOMRS
89
State of Michigan Retirement System
Michigan
$9.42M
Verition Fund Management
90
Verition Fund Management
Connecticut
$9.21M -$9.54M -150,827 -46%
State of Wisconsin Investment Board
91
State of Wisconsin Investment Board
Wisconsin
$9.08M +$760K +12,023 +7%
BBHC
92
Brown Brothers Harriman & Co
New York
$9.01M
CIA
93
Concurrent Investment Advisors
Florida
$8.97M +$29.6K +468 +0.3%
Capital Fund Management (CFM)
94
Capital Fund Management (CFM)
France
$8.83M +$7.99M +126,328 +299%
ACM
95
Ashford Capital Management
Delaware
$8.45M +$10.2M +161,390 New
ACM
96
Aquatic Capital Management
Illinois
$8.11M +$84.5K +1,337 +0.9%
Russell Investments Group
97
Russell Investments Group
United Kingdom
$8.04M -$3.38M -53,495 -26%
Twin Tree Management
98
Twin Tree Management
Texas
$7.81M +$8.47M +133,928 +872%
IMC Chicago
99
IMC Chicago
Illinois
$7.59M +$5.51M +87,109 +150%
Wells Fargo
100
Wells Fargo
California
$7.48M -$5.75M -90,977 -39%

BROS Hedge Fund Activity: Q3 2025 in Review

450 of the 7,619 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.