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Dutch Bros

492 hedge funds and large institutions have $7.23B invested in Dutch Bros in 2025 Q2 according to their latest regulatory filings, with 92 funds opening new positions, 188 increasing their positions, 145 reducing their positions, and 64 closing their positions.

New
Increased
Maintained
Reduced
Closed

44% more first-time investments, than exits

New positions opened: 92 | Existing positions closed: 64

30% more repeat investments, than reductions

Existing positions increased: 188 | Existing positions reduced: 145

15% more capital invested

Capital invested by funds: $6.28B → $7.23B (+$951M)

6% more funds holding

Funds holding: 466492 (+26)

4.19% less ownership

Funds ownership: 87.57%83.38% (-4.2%)

15% less call options, than puts

Call options by funds: $177M | Put options by funds: $209M

25% less funds holding in top 10

Funds holding in top 10: 43 (-1)

Holders
492
Holders Change
+26
Holders Change %
+5.58%
% of All Funds
6.48%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.04%
New
92
Increased
188
Reduced
145
Closed
64
Calls
$177M
Puts
$209M
Net Calls
-$32.3M
Net Calls Change
-$116M
Name Holding Trade Value Shares
Change
Change in
Stake
PFSRSONJ
151
Police & Firemen's Retirement System of New Jersey
New Jersey
$3.01M +$296K +4,541 +12%
SSA
152
Schonfeld Strategic Advisors
New York
$2.93M -$2.78M -42,657 -50%
Capital Fund Management (CFM)
153
Capital Fund Management (CFM)
France
$2.89M -$831K -12,745 -23%
State of New Jersey Common Pension Fund D
154
State of New Jersey Common Pension Fund D
New Jersey
$2.8M +$70K +1,073 +3%
AIM
155
Aigen Investment Management
New York
$2.75M -$286K -4,378 -10%
Wolverine Trading
156
Wolverine Trading
Illinois
$2.7M +$366K +5,617 +17%
TD Asset Management
157
TD Asset Management
Ontario, Canada
$2.62M +$84.8K +1,300 +4%
ITFISA
158
Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna
$2.57M +$272K +4,169 +12%
Point72 Asset Management
159
Point72 Asset Management
Connecticut
$2.55M -$23.2M -355,049 -91%
TC
160
TwinBeech Capital
New York
$2.53M +$1.05M +16,073 +77%
Janney Montgomery Scott
161
Janney Montgomery Scott
Pennsylvania
$2.53M +$593K +9,084 +33%
National Bank of Canada
162
National Bank of Canada
Quebec, Canada
$2.53M +$1.13M +17,353 +88%
VI
163
Versor Investments
New York
$2.44M +$1.03M +15,761 +79%
ASRS
164
Arizona State Retirement System
Arizona
$2.37M +$134K +2,053 +6%
N
165
Natixis
France
$2.36M +$2.25M +34,558 New
TFCM
166
Taylor Frigon Capital Management
Arizona
$2.27M +$245K +3,752 +13%
GAM
167
Gotham Asset Management
New York
$2.24M +$1.07M +16,418 +101%
TIM
168
Thornburg Investment Management
New Mexico
$2.18M +$2.08M +31,864 New
KPWS
169
Kestra Private Wealth Services
Texas
$2.17M +$137K +2,099 +7%
Citigroup
170
Citigroup
New York
$2.16M +$233K +3,578 +13%
QT
171
Quantbot Technologies
New York
$2.11M -$6.26M -95,993 -76%
OTL
172
Oak Thistle LLC
New York
$2.11M +$1.45M +22,161 +256%
Handelsbanken Fonder
173
Handelsbanken Fonder
Sweden
$2.01M
Manulife (Manufacturers Life Insurance)
174
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$1.98M -$50.7K -777 -3%
Teacher Retirement System of Texas
175
Teacher Retirement System of Texas
Texas
$1.96M +$660K +10,122 +55%

BROS Hedge Fund Activity: Q2 2025 in Review

492 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Dutch Bros (BROS) for Q2 2025, worth a combined $7.23B — up 15% from $6.28B a quarter earlier.

Buyers outnumbered sellers: 92 funds opened new BROS positions and 64 closed out — a net gain of 28 holders — while 188 added to existing stakes and 145 trimmed.

The largest buyer was Marshall Wace, adding an estimated $95.3M. The largest seller was Balyasny Asset Management, cutting an estimated $100M.

  • 492 institutional investors held Dutch Bros (BROS) as of Q2 2025, up from 466 in Q1 2025.
  • Funds reported $7.23B of Dutch Bros stock for Q2 2025, up 15% quarter-over-quarter.
  • 92 funds opened new Dutch Bros positions in Q2 2025 and 64 closed out, a net change of +28 holders.
  • The largest Dutch Bros buyer in Q2 2025 was Marshall Wace, an estimated $95.3M added.
  • The largest Dutch Bros seller in Q2 2025 was Balyasny Asset Management, an estimated $100M sold.

Based on aggregated 13F filings for Q2 2025.