[SCHEDULE 13G] Black Rock Coffee Bar, Inc. SEC Filing

Rhea-AI Filing Summary

Gilder Gagnon Howe & Co., LLC reports beneficial ownership of 1,411,127 shares of Black Rock Coffee Bar, Inc. Class A common stock, representing 9.2% of that class. The filing shows the firm has shared dispositive power over these shares but reports no sole or shared voting power and no sole dispositive power. The statement affirms the position was acquired and is held in the ordinary course of business and not to influence control of the issuer. The filing is signed by the Chief Compliance Officer on 10/01/2025.

Positive

• Material disclosure: Reports a 9.2% economic stake (1,411,127 shares) providing transparency to the market
• Ordinary-course certification: Filing states shares are held in the ordinary course and not to influence control

Negative

• No voting power: The filer reports zero sole or shared voting power, indicating limited governance influence
• Concentration risk: A single reporting entity holds a near double-digit stake which increases shareholder concentration

Insights

Financial Analyst

TL;DR: A material passive stake of 9.2% disclosed; no voting power reported, suggesting limited direct governance influence.

The reporting firm holds 1,411,127 Class A shares (9.2%), a sizable economic position that could affect liquidity or signal investor interest. The filing indicates shared dispositive authority only, with zero voting power disclosed, consistent with a non-control, passive investor profile. This reduces immediate governance implications but still represents a meaningful ownership block that investors and analysts may monitor for future activity.

Corporate Governance Expert

TL;DR: Substantial ownership disclosed under ordinary-course declaration; absence of voting power implies no active governance role.

The Schedule 13G asserts the position is held in the ordinary course and not for changing control, and the filer reports no sole/shared voting power. From a governance standpoint, this indicates the holder currently does not claim influence over board or strategic decisions. Nonetheless, disclosure of a 9.2% stake is material for shareholder register monitoring and potential future engagement.

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)

Class A common stock

(Title of Class of Securities)

092244102

(CUSIP Number)

09/30/2025

(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

GILDER GAGNON HOWE & CO LLC

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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,411,127.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,411,127.00

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)

9.2 %

12

Type of Reporting Person (See Instructions)

BD

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Black Rock Coffee Bar, Inc.
(b)	Address of issuer's principal executive offices: 9170 E. Bahia Drive, Suite 101, Scottsdale, AZ 85260
Item 2.
(a)	Name of person filing: Gilder Gagnon Howe & Co., LLC
(b)	Address or principal business office or, if none, residence: 475, 10th Ave New York, NY 10018
(c)	Citizenship: New York
(d)	Title of class of securities: Class A 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: 1,411,127
(b)	Percent of class: 9.2 %
(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: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,411,127
Item 5.	Ownership of 5 Percent or Less of a Class.
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. One or more persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the class A common stock of Black Rock Coffee Bar Inc. No one other person's interest in the Class A common stock of Black Rock Coffee Bar Inc. is more than five percent of the total outstanding class A common stock.
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.

GILDER GAGNON HOWE & CO LLC

Signature:	Laura Esposito
Name/Title:	Chief Compliance Officer
Date:	10/01/2025

FAQ

How many shares of BRCB does Gilder Gagnon Howe & Co. hold?

The filer reports 1,411,127 Class A shares of Black Rock Coffee Bar, Inc.

What percentage of Black Rock Coffee Bar (BRCB) Class A stock is owned?

The filing states the position represents 9.2% of the Class A common stock.

Does Gilder Gagnon Howe & Co. have voting power over these BRCB shares?

No; the report shows 0 shares with sole or shared voting power.

What type of power does the filer report over the shares?

The filer reports shared dispositive power over all 1,411,127 shares and no sole dispositive power.

When was the Schedule 13G signed?

The signature date on the filing is 10/01/2025 by the Chief Compliance Officer.