Steve Cohen's investment firm, Point72, drastically cut its position in Dutch Bros (BROS) during the second quarter of 2026. According to SEC filings, the fund sold over 2.4 million shares, an 88% reduction that left it holding just under 329,000 shares. The sale decreased the reported value of Point72's stake from over $140 million to roughly $23.6 million.
This trade was disclosed in an August 14th 13F filing, which details positions held as of June 30th, meaning the transactions occurred between April and June. The move by Point72 came during a quarter where Dutch Bros reported strong results, including a 32.5% increase in revenue and an 8.3% rise in company-operated same-shop sales. The company also raised its full-year revenue and earnings guidance.