SCHEDULE: Vanguard Group Reports Zero Beneficial Ownership in Dutch Bros

The Vanguard Group has filed an amended Schedule 13G, reporting 0% beneficial ownership in Dutch Bros Inc. following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 5 to its Schedule 13G for Dutch Bros Inc. Common Stock.
• The filing indicates that The Vanguard Group now beneficially owns 0 shares, representing 0% of the class.
• This change is a result of an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately (on a disaggregated basis).
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these subsidiaries and/or business divisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It is an administrative update regarding an internal reporting change by The Vanguard Group and does not reflect any operational or financial performance changes for Dutch Bros Inc.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Dutch Bros Inc.'s future performance or operations.

Management Comments

• "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."

Industry Context

StockSavvy.ai notes that this is a routine administrative filing for large institutional investors like The Vanguard Group. The disaggregation of beneficial ownership reporting among subsidiaries is a common practice following internal corporate restructurings, ensuring compliance with SEC disclosure requirements.

Stakeholder Impact

• Shareholders of Dutch Bros Inc. will see a change in how The Vanguard Group's overall holdings are reported, with subsidiaries now reporting separately. This does not indicate a change in the total shares held by Vanguard's various funds, but rather a change in the reporting entity.

Key Dates

Keywords

Dutch Bros Inc, Vanguard Group, Schedule 13G, beneficial ownership, common stock, institutional investor, SEC filing