Dodge & Cox Holds 10.0% of Molson Coors Class B Stock

Rhea-AI Filing Summary

Dodge & Cox reports beneficial ownership of 18,631,224 shares of Molson Coors Beverage Company Class B common stock, representing 10.0% of the class. The filing shows 17,895,949 shares with sole voting power and 18,631,224 shares with sole dispositive power. The report notes that clients of Dodge & Cox, including the Dodge & Cox Stock Fund, have rights to dividends and sale proceeds; the Stock Fund holds 13,942,525 shares (about 7.5%). The statement certifies the holdings are in the ordinary course of business and not intended to change control.

Positive

• Large, disclosed stake of 18,631,224 shares provides clear investor transparency
• Sole voting control over 17,895,949 shares simplifies governance influence tracking
• Major client holding: Dodge & Cox Stock Fund owns 13,942,525 shares (7.5%)

Negative

• None.

Insights

Institutional Ownership Analyst

Dodge & Cox holds a sizable, non‑control stake in Molson Coors.

The filing shows an institutional investment manager with 18,631,224 shares, equal to 10.0% of the Class B stock, and 17,895,949 votes under sole voting power. That scale typically gives meaningful economic exposure without signaling an intent to seek control when the filer checks the ordinary course certification.

Key dependencies include whether the stake is held across multiple client accounts (the filing indicates client holdings) and if any single client (the Dodge & Cox Stock Fund) holds 13,942,525 shares (7.5%). Monitor filings for any change in percent ownership or voting power around typical quarterly reporting windows.

Regulatory & Compliance Specialist

Filing follows Schedule 13G disclosure for passive institutional investors.

The statement is filed under Schedule 13G (amendment) with a certification that the position is held in the ordinary course of business and not to influence control. This classification limits immediate regulatory implications compared with a Schedule 13D that would signal activist intent.

Watch for any amendments that change reporting classification or disclose plans to acquire additional shares; such changes would alter regulatory status and could appear within days of material trading activity or following portfolio rebalancing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)

MOLSON COORS BEVERAGE COMPANY

(Name of Issuer)

Class B Common Stock

(Title of Class of Securities)

60871R209

(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. 60871R209

1

Names of Reporting Persons

Dodge & Cox

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

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 17,895,949.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 18,631,224.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,631,224.00

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)

10.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MOLSON COORS BEVERAGE COMPANY
(b)	Address of issuer's principal executive offices: P.O. Box 4030, BC555, Golden, Colorado 80401
Item 2.
(a)	Name of person filing: Dodge & Cox
(b)	Address or principal business office or, if none, residence: 555 California Street 40th Floor, San Francisco, CA 94104
(c)	Citizenship: California, USA
(d)	Title of class of securities: Class B Common Stock
(e)	CUSIP No.: 60871R209
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: 18,631,224
(b)	Percent of class: 10.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 17,895,949
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 18,631,224
	(iv) Shared power to dispose or to direct the disposition of: 0
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. The clients of Dodge & Cox, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, MOLSON COORS BEVERAGE COMPANY. Dodge & Cox Stock Fund, an investment company registered under the Investment Company Act of 1940, has an interest of 13,942,525 or 7.5%, of the class of securities reported herein.
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.

Dodge & Cox

Signature:	/S/ Katherine M. Primas
Name/Title:	Chief Compliance Officer
Date:	10/06/2025

FAQ

What does the Dodge & Cox Schedule 13G/A say about ownership of TAP?

Dodge & Cox reports beneficial ownership of 18,631,224 Class B shares, equal to 10.0% of the class.

How many votes does Dodge & Cox control in Molson Coors (TAP)?

The filing shows 17,895,949 shares as sole voting power controlled by Dodge & Cox.

Does Dodge & Cox say it intends to influence control of Molson Coors (TAP)?

No; the filing includes a certification that the holdings are in the ordinary course of business and not held to change or influence control.

Which Dodge & Cox client holds a material portion of the stake in TAP?

The Dodge & Cox Stock Fund holds 13,942,525 shares, representing about 7.5% of the class.

When was the Schedule 13G/A signed for this disclosure?

The signature block shows the filing was signed on 10/06/2025 by the Chief Compliance Officer.