Dutch Bros Inc. (BROS) founder entities detail over 25% Class A stake

Rhea-AI Filing Summary

Dutch Bros Inc. received an amended Schedule 13G/A (Amendment No. 8) from founder-related entities reporting their beneficial ownership of Class A common stock. Travis Boersma reports 45,180,896 shares with sole voting and dispositive power, representing 25.6% of the Class A shares.

Affiliated entities report additional positions: DM Trust Aggregator, LLC holds 27,185,390 shares (sole voting and dispositive power; 16.9% of the class), DM Individual Aggregator, LLC holds 17,282,416 shares (11.3%), and DMI Holdco, LLC holds 713,090 shares (0.5%). All are reported as "Reporting Persons," with details further described in Exhibit 99.1 and signatures executed by attorney-in-fact Thomas P. Conaghan.

Key Figures

Travis Boersma beneficial ownership: 45,180,896 shares Travis Boersma percent of class: 25.6% DM Trust Aggregator, LLC ownership: 27,185,390 shares +5 more

8 metrics

Travis Boersma beneficial ownership 45,180,896 shares Class A common stock with sole voting and dispositive power; 25.6% of class

Travis Boersma percent of class 25.6% Percent of Dutch Bros Class A common stock beneficially owned

DM Trust Aggregator, LLC ownership 27,185,390 shares Class A common stock with sole voting and dispositive power; 16.9% of class

DM Trust Aggregator percent of class 16.9% Percent of Dutch Bros Class A common stock beneficially owned

DM Individual Aggregator, LLC ownership 17,282,416 shares Class A common stock with sole voting and dispositive power; 11.3% of class

DM Individual Aggregator percent of class 11.3% Percent of Dutch Bros Class A common stock beneficially owned

DMI Holdco, LLC ownership 713,090 shares Class A common stock with sole voting and dispositive power; 0.5% of class

DMI Holdco percent of class 0.5% Percent of Dutch Bros Class A common stock beneficially owned

Key Terms

beneficially owned, sole voting power, sole dispositive power, Schedule 13G/A, +1 more

5 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: See Exhibit 99.1 hereto."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"5 | Sole Voting Power 45,180,896.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"7 | Sole Dispositive Power 45,180,896.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G/A regulatory

"Power of Attorney (incorporated herein by reference to Exhibit 99.2 to the /A filed"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Power of Attorney regulatory

"Power of Attorney (incorporated herein by reference to Exhibit 99.2"

A power of attorney is a legal document that allows one person to make decisions and act on behalf of another person, often in financial or legal matters. It’s like giving someone a trusted helper or agent the authority to handle important tasks if you are unable to do so yourself. This matters to investors because it can impact how their assets are managed or transferred if they become unable to oversee their affairs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/12/2026 - 06:58 PM Accepted by SEC EDGAR 08/12/2026 - 06:58 PM Learn about SEC filing dates

FAQ

What ownership does Travis Boersma report in Dutch Bros (BROS) in this Schedule 13G/A?

Travis Boersma reports beneficial ownership of 45,180,896 Class A shares of Dutch Bros, with sole voting and dispositive power. This position represents 25.6% of the Class A common stock, as disclosed in the amended Schedule 13G/A.

Which entities are Reporting Persons in the Dutch Bros (BROS) Schedule 13G/A Amendment No. 8?

The Reporting Persons are Travis Boersma, DM Trust Aggregator, LLC, DM Individual Aggregator, LLC, and DMI Holdco, LLC. Each reports beneficial ownership and sole voting and dispositive power over specified Class A shares of Dutch Bros.

How many Dutch Bros (BROS) shares does DM Trust Aggregator, LLC report owning?

DM Trust Aggregator, LLC reports beneficial ownership of 27,185,390 Dutch Bros Class A shares, with sole voting and dispositive power. This position represents 16.9% of the Class A common stock, according to the amended Schedule 13G/A disclosure.

What stake does DM Individual Aggregator, LLC report in Dutch Bros (BROS)?

DM Individual Aggregator, LLC reports owning 17,282,416 Dutch Bros Class A shares with sole voting and dispositive power. This holding corresponds to 11.3% of the outstanding Class A common stock, as stated in the Schedule 13G/A amendment.

How many Dutch Bros (BROS) shares does DMI Holdco, LLC report, and what percent of class is it?

DMI Holdco, LLC reports beneficial ownership of 713,090 Class A shares of Dutch Bros, with sole voting and dispositive power. This represents approximately 0.5% of the Class A common stock, per the Schedule 13G/A filing.

Who signed the Dutch Bros (BROS) Schedule 13G/A Amendment No. 8 on behalf of the Reporting Persons?

The amendment is signed by Thomas P. Conaghan as Attorney-in-Fact for Travis Boersma and as manager for the related LLC Reporting Persons. The signatures reference previously filed powers of attorney incorporated by reference as exhibits.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 8)

Dutch Bros Inc.

(Name of Issuer)

Class A Common Stock, $0.00001 par value per share

(Title of Class of Securities)

26701L100

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 26701L100

1

Names of Reporting Persons

Travis Boersma

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 45,180,896.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 45,180,896.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

45,180,896.00

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)

25.6 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: For additional information regarding rows 5 through 11, see Exhibit 99.1 hereto.

SCHEDULE 13G

CUSIP Number(s): 26701L100

1

Names of Reporting Persons

DMI Holdco, 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 713,090.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 713,090.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

713,090.00

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)

0.5 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: For additional information regarding rows 5 through 11, see Exhibit 99.1 hereto.

SCHEDULE 13G

CUSIP Number(s): 26701L100

1

Names of Reporting Persons

DM Trust Aggregator, 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 27,185,390.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 27,185,390.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

27,185,390.00

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)

16.9 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: For additional information regarding rows 5 through 11, see Exhibit 99.1 hereto.

SCHEDULE 13G

CUSIP Number(s): 26701L100

1

Names of Reporting Persons

DM Individual Aggregator, 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 17,282,416.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 17,282,416.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

17,282,416.00

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)

11.3 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: For additional information regarding rows 5 through 11, see Exhibit 99.1 hereto.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Dutch Bros Inc.
(b)	Address of issuer's principal executive offices: 1930 W. Rio Salado Pkwy, Tempe, Arizona, 85281
Item 2.
(a)	Name of person filing: The persons filing this statement are Travis Boersma, DM Trust Aggregator, LLC, DM Individual Aggregator, LLC, and DMI Holdco, LLC. Together, Travis Boersma, DM Trust Aggregator, LLC, DM Individual Aggregator, LLC, and DMI Holdco, LLC are the "Reporting Persons."
(b)	Address or principal business office or, if none, residence: c/o Dutch Bros Inc. 1930 W. Rio Salado Pkwy Tempe, AZ, 85281
(c)	Citizenship: Travis Boersma is a United States citizen. DM Trust Aggregator, LLC is a Delaware limited liability company. DM Individual Aggregator, LLC is a Delaware limited liability company. DMI Holdco, LLC, is a Delaware limited liability company.
(d)	Title of class of securities: Class A Common Stock, $0.00001 par value per share
(e)	CUSIP No.: 26701L100
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: See Exhibit 99.1 hereto.
(b)	Percent of class: See Exhibit 99.1 hereto.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Exhibit 99.1 hereto.
	(ii) Shared power to vote or to direct the vote: See Exhibit 99.1 hereto.
	(iii) Sole power to dispose or to direct the disposition of: See Exhibit 99.1 hereto.
	(iv) Shared power to dispose or to direct the disposition of: See Exhibit 99.1 hereto.
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.
	Not Applicable
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:
	Not Applicable

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.

Travis Boersma

Signature:	/s/ Thomas P. Conaghan, Attorney-in-Fact
Name/Title:	Travis Boersma
Date:	08/12/2026

DMI Holdco, LLC

Signature:	/s/ Thomas P. Conaghan
Name/Title:	Thomas P. Conaghan/Attorney-in-Fact for Travis Boersma, Manager
Date:	08/12/2026

DM Trust Aggregator, LLC

Signature:	/s/ Thomas P. Conaghan
Name/Title:	Thomas P. Conaghan/Attorney-in-Fact for Travis Boersma, Manager
Date:	08/12/2026

DM Individual Aggregator, LLC

Signature:	/s/ Thomas P. Conaghan
Name/Title:	Thomas P. Conaghan/Attorney-in-Fact for Travis Boersma, Manager
Date:	08/12/2026

Exhibit Information

Exhibit 99.1 - Additional Information Joint Filing Agreement (incorporated herein by reference to Exhibit 99.1 to the Schedule 13G filed with the SEC by the Reporting Persons on February 11, 2022) Power of Attorney (incorporated herein by reference to Exhibit 99.2 to the Schedule 13G/A filed with the SEC by the Reporting Persons on February 14, 2024)