Vanguard Group holds 5.07% of Black Rock Coffee Bar Inc (BRCB)

Rhea-AI Filing Summary

The Vanguard Group filed a Schedule 13G reporting a passive ownership position in Black Rock Coffee Bar Inc. As of the event date of 12/31/2025, Vanguard beneficially owned 886,463 shares of common stock, representing 5.07% of the class.

Vanguard reports no sole voting or dispositive power over the shares, with 115,765 shares subject to shared voting power and 886,463 shares subject to shared dispositive power. The filing states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the company.

The filing notes that Vanguard’s clients, including registered investment companies and other managed accounts, have rights to dividends and sale proceeds, with no other single person holding more than 5% through these interests. Vanguard also discloses an internal realignment effective January 12, 2026, after which certain subsidiaries are expected to report beneficial ownership on a disaggregated basis.

Insights

Institutional ownership analyst

Vanguard discloses a passive 5.07% stake in Black Rock Coffee.

The filing shows The Vanguard Group holding 886,463 shares, or 5.07% of Black Rock Coffee Bar Inc’s common stock as of 12/31/2025. This crosses the 5% reporting threshold, triggering a Schedule 13G, which indicates a passive investment intent rather than an activist position.

Control characteristics are limited: Vanguard has no sole voting or dispositive power, with shared voting over 115,765 shares and shared dispositive power over the full 886,463 shares. Economic benefits ultimately accrue to Vanguard’s clients, and no other single client reportedly exceeds the 5% level, dispersing underlying ownership.

The note about a January 12, 2026 internal realignment signals that future ownership reports may come from specific Vanguard subsidiaries on a disaggregated basis. That change affects how investors may track institutional stakes over time, but does not alter the economic exposure disclosed for the period covered here.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Black Rock Coffee Bar Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

092244102

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 092244102

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 115,765.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 886,463.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

886,463.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.07 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. As of that date, The Vanguard Group, Inc. no longer performs portfolio management services or administers proxy voting. In accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. anticipates that certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that currently have, or are deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Black Rock Coffee Bar Inc
(b)	Address of issuer's principal executive offices: 9170 E Bahia Dr, Suite 101, Scottsdale, AZ, 85260
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 092244102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 886463
(b)	Percent of class: 5.07 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 115765
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 886463
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	01/30/2026

FAQ

What percentage of Black Rock Coffee Bar Inc (BRCB) does The Vanguard Group own?

The Vanguard Group reports beneficial ownership of 5.07% of Black Rock Coffee Bar Inc’s common stock. This corresponds to 886,463 shares as of the event date, triggering a Schedule 13G filing as Vanguard crossed the 5% institutional ownership reporting threshold.

How many Black Rock Coffee Bar Inc (BRCB) shares does Vanguard report on Schedule 13G?

The Vanguard Group reports beneficial ownership of 886,463 shares of Black Rock Coffee Bar Inc common stock. These shares represent 5.07% of the outstanding class as of 12/31/2025, placing Vanguard above the 5% reporting level for institutional investors.

Is The Vanguard Group’s stake in Black Rock Coffee Bar Inc (BRCB) passive or activist?

The Vanguard Group certifies that its Black Rock Coffee Bar Inc stake is held in the ordinary course of business and not to change or influence control. This language, together with the Schedule 13G form, indicates a passive investment rather than an activist position.

What voting and dispositive powers does Vanguard have over its BRCB shares?

The Vanguard Group reports no sole voting or dispositive power over Black Rock Coffee Bar Inc shares. It has shared voting power over 115,765 shares and shared dispositive power over 886,463 shares, reflecting its role managing assets on behalf of underlying clients.

Who ultimately benefits from Vanguard’s Black Rock Coffee Bar Inc (BRCB) holdings?

Vanguard states that its clients, including registered investment companies and other managed accounts, have rights to dividends and sale proceeds from the reported Black Rock Coffee Bar Inc securities. The filing notes that no other single person’s interest exceeds 5% of the class through these accounts.

What organizational change at Vanguard could affect future BRCB ownership reports?

Vanguard discloses an internal realignment effective January 12, 2026, after which it no longer provides portfolio management or proxy voting. It anticipates that certain subsidiaries or divisions will separately report beneficial ownership on a disaggregated basis for positions like Black Rock Coffee Bar Inc.