T. Rowe Price holds 6.0% of Dutch Bros (NASDAQ: BROS)

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. filed a Schedule 13G reporting beneficial ownership of 6.0% of Dutch Bros Inc. - Class A common stock, representing 7,631,961 shares as of 03/31/2026. The filing includes a statement that the filing "shall not be construed as an admission that Price Associates is the beneficial owner" and is signed on 05/15/2026.

Insights

Institutional Ownership Analyst

Large passive holding reported: T. Rowe Price shows a 6.0% stake in Dutch Bros.

T. Rowe Price reports 7,631,961 shares representing 6.0% of Class A common stock as of 03/31/2026. The filing is a Schedule 13G, typically used by institutional investors to report passive holdings rather than active intent.

Monitor future amendments or Form 13D filings for any shift from passive to active status; current disclosures include an explicit statement disclaiming beneficial ownership.

Compliance / Legal Analyst

Filing includes a legal qualifier denying beneficial ownership admission.

The filing contains language that the submission "shall not be construed as an admission that Price Associates is the beneficial owner of the securities," a standard qualifier in passive filings. Signature is by a named officer on 05/15/2026.

For governance impact, review subsequent filings for changes in voting or disposition powers; current record lists sole voting and dispositive powers in specific share counts.

Key Figures

Shares beneficially owned: 7,631,961 shares Percent of class: 6.0% Sole voting power: 7,550,929 shares +2 more

5 metrics

Shares beneficially owned 7,631,961 shares as of <date>03/31/2026</date>

Percent of class 6.0% Class A common stock

Sole voting power 7,550,929 shares reported in ownership table

Sole dispositive power 7,631,961 shares reported in ownership table

Filing type Schedule 13G passive ownership disclosure

Key Terms

Schedule 13G, Beneficially owned, Sole dispositive power, CUSIP

4 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: DUTCH BROS INC-CLASS A"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficially owned regulatory

"Item 4. (a) Amount beneficially owned: 7631961"

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 dispositive power financial

"Item 4. (c)(iii) Sole power to dispose: 7631961"

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.

CUSIP technical

"Item 2. (e) CUSIP Number(s): 26701L100"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

DUTCH BROS INC-CLASS A

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

26701L100

(CUSIP Number)

03/31/2026

(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

T. Rowe Price Associates, Inc.

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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,550,929.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,631,961.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,631,961.00

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)

6.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DUTCH BROS INC-CLASS A
(b)	Address of issuer's principal executive offices: 1930 W RIO SALADO PKWY, TEMPE, AZ, 85281
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP Number(s): 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: 7631961
(b)	Percent of class: 6.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 7550929
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 7631961
	(iv) Shared power to dispose or to direct the disposition of: 0
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:

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. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	05/15/2026

FAQ

What stake does T. Rowe Price (BROS) report owning?

T. Rowe Price reports beneficial ownership of 7,631,961 shares, equal to 6.0% of Class A common stock as of 03/31/2026. The figure is disclosed on a Schedule 13G filing.

Does the Schedule 13G show voting or dispositive power?

Yes. The filing reports sole voting power of 7,550,929 shares and sole dispositive power of 7,631,961 shares, as listed in the ownership section of the filing.

Does T. Rowe Price claim to be the beneficial owner?

The filing includes a statement that it "shall not be construed as an admission that Price Associates is the beneficial owner," indicating the firm disclaims that characterization in this submission.

What date anchors the ownership reported by T. Rowe Price?

The ownership figure is stated "as of" 03/31/2026, and the filing is signed on 05/15/2026, which appear in the Schedule 13G text.