Vanguard (NYSE: SAM) holds 635,388 shares, 7.58% of Boston Beer

Rhea-AI Filing Summary

Boston Beer Co., Inc. ownership filing reports that Vanguard Portfolio Management LLC beneficially owned 635,388 shares of Common Stock, representing 7.58% of the class as of 03/31/2026. The filing states Vanguard has sole dispositive power over 635,388 shares and sole voting power for 919 shares. The disclosure notes these holdings reflect securities held for Vanguard funds and managed accounts and identifies Vanguard Portfolio Management LLC and affiliated divisions as the reporting persons.

Insights

Institutional Ownership Analyst

Index fund ownership signals a sizeable passive stake in Boston Beer (7.58%).

Vanguard Portfolio Management LLC reports beneficial ownership of 635,388 shares (7.58% as of 03/31/2026), primarily via funds and managed accounts where Vanguard exercises dispositive power. The filing shows limited voting control: 919 votes held solely.

Because this is a Schedule 13G passive disclosure, it reflects position reporting rather than an active strategic move; subsequent filings could show changes in voting or dispositive power.

Corporate Governance Specialist

Voting vs. dispositive split matters for takeover and proxy scenarios.

The record shows sole dispositive power over 635,388 shares but sole voting power only for 919 shares, with shared voting and dispositive power at 0. This separation indicates most economic control is held through managed accounts while voting authority may be routed or limited.

Stake disclosures like this should be monitored for future Form 13D or changes in voting power that would carry different disclosure implications.

Key Figures

Shares beneficially owned: 635,388 shares Percent of class: 7.58% Sole voting power: 919 shares +2 more

5 metrics

Shares beneficially owned 635,388 shares amount beneficially owned as of 03/31/2026

Percent of class 7.58% percentage of common stock class as of 03/31/2026

Sole voting power 919 shares sole power to vote or to direct the vote

Sole dispositive power 635,388 shares sole power to dispose or to direct the disposition

Report type Schedule 13G form type filed for passive beneficial ownership reporting

Key Terms

Schedule 13G, beneficially owned, dispositive power, sole voting power

4 terms

Schedule 13G regulatory

"Schedule 13G reporting beneficial ownership of more than 5 percent"

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 financial

"this reflects the securities beneficially owned, or deemed to be beneficially owned"

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.

dispositive power financial

"sole power to dispose or to direct the disposition of: 635388"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

sole voting power governance

"Sole Voting Power 919.00"

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.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Boston Beer Co Inc/The

(Name of Issuer)

Common Stock

(Title of Class of Securities)

100557107

(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): 100557107

1

Names of Reporting Persons

Vanguard Portfolio Management

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 919.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 635,388.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

635,388.00

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)

7.58 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Boston Beer Co Inc/The
(b)	Address of issuer's principal executive offices: 1 Design Center Place, Suite 850, Boston, MA, 02210
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(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 Number(s): 100557107
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: 635388
(b)	Percent of class: 7.58 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 919
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 635388
	(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.
	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. Vanguard Portfolio Management, 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.

Vanguard Portfolio Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/29/2026

FAQ

What stake does Vanguard hold in Boston Beer (SAM)?

Vanguard Portfolio Management LLC reports beneficial ownership of 635,388 shares, representing 7.58% of Boston Beer Co., Inc.'s common stock as of 03/31/2026.

Does Vanguard control voting for these Boston Beer shares?

Vanguard reports sole voting power for 919 shares and sole dispositive power for 635,388 shares, indicating voting authority is limited relative to economic ownership.

Is Vanguard reporting this stake as passive or active?

The filing is a Schedule 13G, which typically indicates a passive investment reporting status rather than an active intent to influence control, per the form type disclosed.

Are these shares held for Vanguard funds or other clients?

Yes. The filing states holdings include securities held by Vanguard funds and managed accounts over which Vanguard Portfolio Management LLC or affiliates exercise dispositive power.

Who signed the Schedule 13G for Vanguard?

Ashley Grim, Head of Global Fund Administration, signed the filing on 04/29/2026 on behalf of Vanguard Portfolio Management LLC.