BROSNYSERetail-Eating & Drinking PlacesFiscal year ends December 31
Dutch Bros Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$42.86+1.70 (+4.13%)
Close on Oct 19, 2026
- Market cap
- $5.78B
- P/E (TTM)
- 59.5
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
74.8%
131M of 175M shares
Institutional holders
556
117 new, 62 sold out
Net institutional buying
-1M
In Q2 2026
Insider trades, 12 months
2 buys · 69 sales
Net sold $632.98M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| T. Rowe Price Associates, Inc. | 7,631,961 | 6.00% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 6,659,327 | 5.24% | 13G (passive) | Mar 31, 2026 |
| TSG7 A Management L.L.C. (voluntary) | 46,550,828 | 42.50% | 13G (passive) amendment | Dec 31, 2023 |
| Travis Boersma | 45,180,896 | 25.60% | 13G (passive) amendment | Jun 30, 2026 |
| FMR LLC | 16,724,132 | 12.20% | 13G (passive) amendment | Jun 30, 2026 |
| Abigail P. Johnson | 13,650,248 | 10.70% | 13G (passive) amendment | Apr 30, 2026 |
| BlackRock, Inc. | 11,818,137 | 9.30% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of BROS | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| FMR LLC | 16,724,132 | 9.57% | $1.20B | +7,157,735 | 0.05% |
| BlackRock, Inc. | 14,662,985 | 8.39% | $1.05B | +784,858 | 0.02% |
| Price T Rowe Associates Inc /Md/ | 9,593,935 | 5.49% | $688.94K | +1,961,485 | 0.07% |
| Vanguard Capital Management LLC | 6,066,585 | 3.47% | $435.64M | +376,484 | 0.01% |
| Vanguard Portfolio Management LLC | 5,938,536 | 3.40% | $426.45M | +466,063 | 0.02% |
| T. Rowe Price Investment Management, Inc. | 4,265,542 | 2.44% | $306.31K | −364,524 | 0.20% |
| State Street Corp | 3,851,321 | 2.20% | $276.56M | +71,814 | 0.01% |
| Wellington Management Group Llp | 3,090,882 | 1.77% | $221.96M | +851,075 | 0.04% |
| Baillie Gifford & Co | 2,738,885 | 1.57% | $196.68M | −255,326 | 0.18% |
| Geode Capital Management, LLC | 2,483,555 | 1.42% | $178.39M | −46,574 | 0.01% |
| Citadel Advisors LLC | 2,210,958 | 1.27% | $158.77M | +204,005 | 0.02% |
| Westfield Capital Management Co LP | 2,184,001 | 1.25% | $156.83M | −129,356 | 0.51% |
| 1832 Asset Management L.P. | 2,011,800 | 1.15% | $144.47M | +981,500 | 0.07% |
| Goldman Sachs Group Inc | 1,990,163 | 1.14% | $142.91M | +299,001 | 0.01% |
| Morgan Stanley | 1,887,011 | 1.08% | $135.51M | −576,589 | 0.01% |
| American Century Companies Inc | 1,716,097 | 0.98% | $123.23M | +388,723 | 0.05% |
| Bank Of America Corp /De/ | 1,603,022 | 0.92% | $115.11M | −211,793 | 0.01% |
| TSG Consumer Partners LP | 1,587,292 | 0.91% | $113.98M | −692,554 | 100.00% |
| Marshall Wace, Llp | 1,459,562 | 0.84% | $104.81M | −1,134,295 | 0.08% |
| Joho Capital LLC | 1,418,394 | 0.81% | $101.85M | – | 22.12% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 556 | 131M | 74.8% | 117 / 174 | 166 / 62 | 24M | 25M |
| Q1 2026 | 510 | 132M | 75.5% | 95 / 204 | 122 / 88 | 49M | 26M |
| Q4 2025 | 512 | 120M | 68.8% | 131 / 173 | 141 / 61 | 24M | 20M |
| Q3 2025 | 450 | 117M | 67.1% | 62 / 189 | 131 / 97 | 25M | 14M |
| Q2 2025 | 492 | 106M | 60.9% | 92 / 187 | 146 / 64 | 18M | 13M |
| Q1 2025 | 466 | 102M | 58.3% | 112 / 168 | 129 / 40 | 19M | 18M |
| Q4 2024 | 400 | 101M | 57.9% | 101 / 111 | 137 / 38 | 23M | 23M |
| Q3 2024 | 347 | 103M | 59.2% | 76 / 139 | 87 / 62 | 35M | 27M |
| Q2 2024 | 336 | 100M | 57.2% | 106 / 120 | 63 / 35 | 39M | 34M |
| Q1 2024 | 269 | 95M | 54.2% | 75 / 102 | 54 / 36 | 27M | 24M |
| Q4 2023 | 232 | 92M | 52.4% | 71 / 86 | 46 / 29 | 12M | 9M |
| Q3 2023 | 190 | 89M | 51.1% | 36 / 74 | 42 / 29 | 18M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of BROS | Value | % of fund | As of |
|---|---|---|---|---|---|
| T. Rowe Price New Horizons Fund, Inc. | 4,833,676 | 2.77% | $347.11M | 2.36% | Jun 30, 2026 |
| Fidelity Contrafund | 4,743,296 | 2.72% | $340.62M | 0.19% | Jun 30, 2026 |
| iShares Core S&P Mid-Cap ETF | 4,366,386 | 2.50% | $313.55M | 0.25% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 4,356,424 | 2.49% | $312.83M | 0.01% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 3,147,221 | 1.80% | $226.00M | 0.12% | Jun 30, 2026 |
| BlackRock Mid-Cap Growth Equity Portfolio | 2,448,927 | 1.40% | $142.04M | 2.53% | May 29, 2026 |
| Strategic Advisers Fidelity U.S. Total Stock Fund | 2,166,673 | 1.24% | $125.67M | 0.05% | May 31, 2026 |
| Vanguard Small-Cap Growth Index Fund | 1,812,658 | 1.04% | $130.17M | 0.28% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 1,463,469 | 0.84% | $105.09M | 0.11% | Jun 30, 2026 |
| Growth Fund | 1,441,622 | 0.83% | $94.90M | 0.66% | Jul 31, 2026 |
| Fidelity Blue Chip Growth Fund | 1,358,846 | 0.78% | $89.45M | 0.09% | Jul 31, 2026 |
| T. Rowe Price Mid-Cap Growth Fund, Inc. | 1,299,423 | 0.74% | $93.31M | 0.41% | Jun 30, 2026 |
| VIP Mid Cap Portfolio | 1,008,800 | 0.58% | $72.44M | 0.76% | Jun 30, 2026 |
| Fidelity Contrafund K6 | 1,000,659 | 0.57% | $71.86M | 0.19% | Jun 30, 2026 |
| Vanguard Explorer Fund | 745,185 | 0.43% | $49.06M | 0.22% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Travis Boersma | Executive Chairman of Board, Director, 10% owner | 42,118,909 | 24.11% | Jun 12, 2026 |
| Christine Barone | CEO and President, Director | 44,573 | 0.03% | Jun 11, 2026 |
| Tana Davila | Chief Marketing Officer | 28,460 | 0.02% | Jul 6, 2026 |
| Joshua J. Guenser | Chief Financial Officer | 28,261 | 0.02% | Mar 2, 2026 |
| Victoria J. Tullett | Chief Legal Officer | 29,667 | 0.02% | Mar 2, 2026 |
| Nick Daddario | Chief Accounting Officer | 620 | 0.00% | Mar 2, 2026 |
| Sumitro Ghosh | President of Operations | 10,321 | 0.01% | Mar 4, 2025 |
| C. David Cone | Director | 7,215 | 0.00% | Aug 21, 2026 |
| Kory Marchisotto | Director | 2,968 | 0.00% | Aug 21, 2026 |
| Todd Allan Penegor | Director | 8,133 | 0.00% | Aug 21, 2026 |
| Ann M. Miller | Director | 12,099 | 0.01% | Aug 21, 2026 |
| Scott Harlan Maw | Director | 775 | 0.00% | Aug 21, 2026 |
| Stephen Gillett | Director | 19,282 | 0.01% | Aug 21, 2026 |
| Gerard Johan Hart | Director | 4,236 | 0.00% | Aug 21, 2026 |
| Thomas James Davis | Director | 14,121 | 0.01% | May 15, 2026 |
| Kathryn George | Director | 14,121 | 0.01% | May 15, 2026 |
| DM Individual Aggregator, LLC | 10% owner | 16,554,657 | 9.48% | Jun 12, 2026 |
| DM Trust Aggregator, LLC | 10% owner | 25,122,983 | 14.38% | Jun 12, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| C. David Cone Director | Aug 20, 2026 | Option exercise | +775 | – | – | 7,215 |
| Kory Marchisotto Director | Aug 20, 2026 | Option exercise | +775 | – | – | 2,968 |
| Todd Allan Penegor Director | Aug 20, 2026 | Option exercise | +775 | – | – | 8,133 |
| Ann M. Miller Director | Aug 20, 2026 | Option exercise | +775 | – | – | 12,099 |
| Scott Harlan Maw Director | Aug 20, 2026 | Option exercise | +775 | – | – | 775 |
| Stephen Gillett Director | Aug 20, 2026 | Option exercise | +775 | – | – | 19,282 |
| Gerard Johan Hart Director | Aug 20, 2026 | Option exercise | +775 | – | – | 4,236 |
| Todd Allan Penegor Director | Aug 13, 2026 | Buy | +2,000 | $51.56 | $103.12K | 7,358 |
| Tana Davila Chief Marketing Officer | Jul 1, 2026 | Option exercise | +5,655 | – | – | 28,460 |
| Tana Davila Chief Marketing Officer | Jul 1, 2026 | Tax withholding | −3,678 | $73.31 | $269.63K | 22,805 |
| Tana Davila Chief Marketing Officer | Jul 1, 2026 | Option exercise | +8,787 | – | – | 26,483 |
| Tana Davila Chief Marketing Officer | Jul 1, 2026 | Tax withholding | −2,367 | $73.31 | $173.52K | 26,093 |
| DM Individual Aggregator, LLC 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −15,555 | $64.10 | $997.08K | 2,410,800 |
| DM Individual Aggregator, LLC 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −120,729 | $63.46 | $7.66M | 2,426,355 |
| DM Individual Aggregator, LLC 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −124,771 | $62.47 | $7.79M | 2,547,084 |
| DM Trust Aggregator, LLC 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −226,120 | $63.46 | $14.35M | 4,543,765 |
| DM Trust Aggregator, LLC 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −29,135 | $64.10 | $1.87M | 4,514,630 |
| DM Trust Aggregator, LLC 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −233,690 | $62.47 | $14.60M | 4,769,885 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −29,135 | $64.10 | $1.87M | 4,514,630 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −120,729 | $63.46 | $7.66M | 2,426,355 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −124,771 | $62.47 | $7.79M | 2,547,084 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −15,555 | $64.10 | $997.08K | 2,410,800 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −226,120 | $63.46 | $14.35M | 4,543,765 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 11, 2026 | Sale(10b5-1 plan) | −233,690 | $62.47 | $14.60M | 4,769,885 |
| DM Individual Aggregator, LLC 10% owner | Jun 10, 2026 | Sale(10b5-1 plan) | −13,598 | $61.08 | $830.57K | 2,671,855 |
| DM Individual Aggregator, LLC 10% owner | Jun 10, 2026 | Sale(10b5-1 plan) | −247,456 | $60.34 | $14.93M | 2,685,453 |
| DM Trust Aggregator, LLC 10% owner | Jun 10, 2026 | Sale(10b5-1 plan) | −27,413 | $61.08 | $1.67M | 5,003,575 |
| DM Trust Aggregator, LLC 10% owner | Jun 10, 2026 | Sale(10b5-1 plan) | −461,532 | $60.35 | $27.85M | 5,030,988 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 10, 2026 | Sale(10b5-1 plan) | −13,598 | $61.08 | $830.57K | 2,671,855 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 10, 2026 | Sale(10b5-1 plan) | −247,456 | $60.34 | $14.93M | 2,685,453 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 10, 2026 | Sale(10b5-1 plan) | −27,413 | $61.08 | $1.67M | 5,003,575 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 10, 2026 | Sale(10b5-1 plan) | −461,532 | $60.35 | $27.85M | 5,030,988 |
| Christine Barone CEO and President, Director | Jun 10, 2026 | Sale(10b5-1 plan) | −42,031 | $60.13 | $2.53M | 44,573 |
| DM Trust Aggregator, LLC 10% owner | Jun 1, 2026 | Sale(10b5-1 plan) | −291,607 | $58.26 | $16.99M | 5,492,520 |
| DM Individual Aggregator, LLC 10% owner | Jun 1, 2026 | Sale(10b5-1 plan) | −155,692 | $58.26 | $9.07M | 2,932,909 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 1, 2026 | Sale(10b5-1 plan) | −155,692 | $58.26 | $9.07M | 2,932,909 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Jun 1, 2026 | Sale(10b5-1 plan) | −291,607 | $58.26 | $16.99M | 5,492,520 |
| DM Trust Aggregator, LLC 10% owner | May 29, 2026 | Sale(10b5-1 plan) | −197,338 | $58.27 | $11.50M | 5,784,127 |
| DM Individual Aggregator, LLC 10% owner | May 29, 2026 | Sale(10b5-1 plan) | −105,362 | $58.27 | $6.14M | 3,088,601 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | May 29, 2026 | Sale(10b5-1 plan) | −105,362 | $58.27 | $6.14M | 3,088,601 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | May 29, 2026 | Sale(10b5-1 plan) | −197,338 | $58.27 | $11.50M | 5,784,127 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | May 28, 2026 | Sale(10b5-1 plan) | −133,728 | $56.16 | $7.51M | 5,981,465 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | May 28, 2026 | Sale(10b5-1 plan) | −71,399 | $56.16 | $4.01M | 3,193,963 |
| DM Individual Aggregator, LLC 10% owner | May 28, 2026 | Sale(10b5-1 plan) | −71,399 | $56.16 | $4.01M | 3,193,963 |
| DM Trust Aggregator, LLC 10% owner | May 28, 2026 | Sale(10b5-1 plan) | −133,728 | $56.16 | $7.51M | 5,981,465 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | May 27, 2026 | Sale(10b5-1 plan) | −189,655 | $56.21 | $10.66M | 3,265,362 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | May 27, 2026 | Sale(10b5-1 plan) | −355,217 | $56.21 | $19.97M | 6,115,193 |
| DM Individual Aggregator, LLC 10% owner | May 27, 2026 | Sale(10b5-1 plan) | −189,655 | $56.21 | $10.66M | 3,265,362 |
| DM Trust Aggregator, LLC 10% owner | May 27, 2026 | Sale(10b5-1 plan) | −355,217 | $56.21 | $19.97M | 6,115,193 |
| Todd Allan Penegor Director | May 15, 2026 | Buy | +2,000 | $51.18 | $102.36K | 5,358 |
| Stephen Gillett Director | May 13, 2026 | Option exercise | +444 | – | – | 18,507 |
| Gerard Johan Hart Director | May 13, 2026 | Option exercise | +444 | – | – | 3,461 |
| Kory Marchisotto Director | May 13, 2026 | Option exercise | +444 | – | – | 2,193 |
| Ann M. Miller Director | May 13, 2026 | Option exercise | +444 | – | – | 11,324 |
| Thomas James Davis Director | May 13, 2026 | Option exercise | +444 | – | – | 14,121 |
| Kathryn George Director | May 13, 2026 | Option exercise | +444 | – | – | 14,121 |
| Todd Allan Penegor Director | May 13, 2026 | Option exercise | +444 | – | – | 3,358 |
| C. David Cone Director | May 13, 2026 | Option exercise | +444 | – | – | 6,440 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Apr 27, 2026 | Conversion | +3,445,200 | – | – | 3,455,017 |
| Travis Boersma Executive Chairman of Board, Director, 10% owner | Apr 27, 2026 | Conversion | +6,454,800 | – | – | 6,470,410 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Dm Trust Aggregator, Llc 10% Stockholder | Jun 11, 2026 | 488,945 | $29.47M | Jun 11, 2026 | Founders Shares |
| Dm Individual Aggregator, Llc 10% Stockholder | Jun 11, 2026 | 261,055 | $15.74M | Jun 11, 2026 | Founders Shares |
| Dm Individual Aggregator, Llc 10% Stockholder | Jun 10, 2026 | 261,054 | $15.09M | Jun 10, 2026 | Founders Shares |
| Dm Trust Aggregator, Llc 10% Stockholder | Jun 10, 2026 | 488,945 | $28.26M | Jun 10, 2026 | Founders Shares |
| Barone Christine Director, Officer | Jun 10, 2026 | 42,031 | $2.43M | Jun 10, 2026 | Restricted Stock Units |
| Dm Trust Aggregator, Llc 10% Stockholder | Jun 1, 2026 | 291,607 | $16.91M | Jun 1, 2026 | Founders Shares |
| Dm Individual Aggregator, Llc 10% Stockholder | Jun 1, 2026 | 155,692 | $9.03M | Jun 1, 2026 | Founders Shares |
| Dm Individual Aggregator, Llc 10% Stockholder | May 29, 2026 | 105,362 | $5.96M | May 29, 2026 | Founders Shares |
| Dm Trust Aggregator, Llc 10% Stockholder | May 29, 2026 | 197,338 | $11.16M | May 29, 2026 | Founders Shares |
| Dm Individual Aggregator, Llc 10% Stockholder | May 28, 2026 | 71,399 | $3.99M | May 28, 2026 | Founders Shares |
| Dm Trust Aggregator, Llc 10% Stockholder | May 28, 2026 | 133,728 | $7.48M | May 28, 2026 | Founders Shares |
| Dm Individual Aggregator, Llc 10% Stockholder | May 27, 2026 | 189,655 | $10.16M | May 27, 2026 | Founders Shares |
| Dm Trust Aggregator, Llc 10% Stockholder | May 27, 2026 | 355,217 | $19.03M | May 27, 2026 | Founders Shares |
| Trust Aggregator Llc Dm 10% Stockholder | Nov 25, 2025 | 1,030,527 | $54.99M | Nov 25, 2025 | Founders Shares |
| Dm Individual Aggregator, Llc 10% Stockholder | Nov 25, 2025 | 648,089 | $34.58M | Nov 25, 2025 | Founders Shares |