Dutch Bros Inc. (BROS)

Highly Crowded

Held by 485 of 5,944 reporting institutions (97th percentile) — extremely crowded.

Data as of Q1 2026

Institutional Ownership

73.47%

QoQ Change

-20.18%

Total Value

$6.1T

Shares Outstanding

174.6M

Crowding AnalysisHighly Crowded

Holders485of 5,944

Avg: 68

Uncrowded97th percentileCrowded

Institutional Activity

Buy/Sell Ratio1.36x

93th percentile

298 buying219 selling

+94

New

-97

Closed

+13.9M

Net shares

Holding Period Distribution

estimate

Median: 3 QAvg: 3 QHolders: 485

Ownership Concentration

Top 5: 32.9%Top 10: 48.0%

BlackRock,10.8%

FMR7.5%

PRICE T ROWE ASSOCIATES6.0%

VANGUARD CAPITAL MANAGEMENT4.4%

VANGUARD PORTFOLIO MANAGEMENT4.3%

Others (480)67.1%

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Conviction-Weighted Ownership

Median weight: 0.03%Avg weight: 0.04%Max: 0.16%High conviction (>1%): 0

BlackRock,

FMR

PRICE T ROWE ASSOCIATES

VANGUARD CAPITAL MANAGEMENT

VANGUARD PORTFOLIO MANAGEMENT

T. Rowe Price Investment Management,

UBS Group AG

STATE STREET

MILLENNIUM MANAGEMENT

CITADEL ADVISORS

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Whale Moves Timeline (8 Quarters)

Biggest dollar-value position changes among top 10 holders

BOUGHTBlackRock$333M6.6M shr

NEWVANGUARD CAPITAL MANAGEMENT$288M5.7M shr

NEWVANGUARD PORTFOLIO MANAGEMENT$277M5.5M shr

NEWSTATE STREET$191M3.8M shr

NEWCITADEL ADVISORS$172M3.4M shr

NEWUBS Group AG$186M3.0M shr

NEWSquarepoint Ops$182M3.0M shr

NEWMILLENNIUM MANAGEMENT$181M3.0M shr

BOUGHTMARSHALL WACE, LLP$25M408K shr

BOUGHTBlackRock$19M315K shr

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Institutional Trends (8 Quarters)

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Institutional Holders

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