The Boston Beer Company, Inc.
US ˙ NYSE ˙ US1005571070

SecuritySAM / The Boston Beer Company, Inc.
InstitutionCommonwealth Equity Services, Llc
Latest Disclosed Ownership1,368 shares
Latest Disclosed Value $ 266,940
Commonwealth Equity Services, Llc reports 56.65% decrease in ownership of SAM / The Boston Beer Company, Inc.

On February 12, 2026 - Commonwealth Equity Services, Llc filed a 13F-HR form disclosing ownership of 1,368 shares of The Boston Beer Company, Inc. (US:SAM) valued at $266,938 USD as of December 31, 2025. The entity filed a previous 13F-HR on October 22, 2025 disclosing 3,156 shares of The Boston Beer Company, Inc.. The current value of the position is $224,024 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-12 2025-12-31 13F BOSTON BEER CL A 100557107 1,368 -1,788 -56.65 267
2025-10-22 2025-09-30 13F BOSTON BEER CL A 100557107 3,156 1,982 168.82 1 0.0009
2025-08-06 2025-06-30 13F BOSTON BEER CL A 100557107 1,174 -68 -5.48 0 0.0003
2025-05-09 2025-03-31 13F BOSTON BEER CL A 100557107 1,242 -225 -15.34 0 0.0004
2025-02-10 2024-12-31 13F BOSTON BEER CL A 100557107 1,467 122 9.07 0 0.0006
2024-10-18 2024-09-30 13F BOSTON BEER CL A 100557107 1,345 -116 -7.94 0 0.0006
2024-07-31 2024-06-30 13F BOSTON BEER CL A 100557107 1,461 -160 -9.87 0 0.0007
2024-04-29 2024-03-31 13F BOSTON BEER CL A 100557107 1,621 244 17.72 0 0.0008
2024-02-06 2023-12-31 13F BOSTON BEER CL A 100557107 1,377 4 0.29 0 0.0009
2023-10-23 2023-09-30 13F BOSTON BEER CL A 100557107 1,373 15 1.10 1 0.0011
2023-08-10 2023-06-30 13F BOSTON BEER CL A 100557107 1,358 115 9.25 0 0.0009
2023-05-11 2023-03-31 13F BOSTON BEER CL A 100557107 1,243 49 4.10 0 0.0009
2023-02-07 2022-12-31 13F BOSTON BEER CL A 100557107 1,194 -7 -0.58 0 -100.00 0.0009
2022-11-14 2022-09-30 13F BOSTON BEER CL A 100557107 1,201 29 2.47 388 9.30 0.0010
2022-07-19 2022-06-30 13F BOSTON BEER CL A 100557107 1,172 -633 -35.07 355 -49.36 0.0009
2022-05-04 2022-03-31 13F BOSTON BEER CL A 100557107 1,805 347 23.80 701 -4.76 0.0016
2022-01-31 2021-12-31 13F BOSTON BEER CL A 100557107 1,458 -1,570 -51.85 736 -52.30 0.0017
2021-10-29 2021-09-30 13F BOSTON BEER CL A 100557107 3,028 -18 -0.59 1,543 -50.37 0.0039
2021-08-11 2021-06-30 13F BOSTON BEER CL A 100557107 3,046 1,854 155.54 3,109 116.35 0.0079
2021-05-04 2021-03-31 13F BOSTON BEER CL A 100557107 1,192 112 10.37 1,437 33.92 0.0041
2021-02-11 2020-12-31 13F BOSTON BEER CL A 100557107 1,080 112 11.57 1,073 25.50 0.0032
2020-11-05 2020-09-30 13F BOSTON BEER CL A 100557107 968 -214 -18.10 855 34.86 0.0029
2020-08-12 2020-06-30 13F BOSTON BEER CL A 100557107 1,182 43 3.78 634 51.67 0.0024
2020-05-11 2020-03-31 13F BOSTON BEER CL A 100557107 1,139 210 22.60 418 19.09 0.0019
2020-02-05 2019-12-31 13F BOSTON BEER CL A 100557107 929 1 0.11 351 4.15 0.0013
2019-10-30 2019-09-30 13F BOSTON BEER CL A 100557107 928 133 16.73 337 12.33 0.0014
2019-07-19 2019-06-30 13F BOSTON BEER CL A 100557107 795 0 0.00 300 28.21 0.0013
2019-05-13 2019-03-31 13F BOSTON BEER CL A 100557107 795 795 234 0.0011
2019-02-11 2018-12-31 13F BOSTON BEER CL A 100557107 0 -1,442 -100.00 0 -100.00
2018-11-06 2018-09-30 13F BOSTON BEER CL A 100557107 1,442 -28 -1.90 414 -6.12 0.0020
2018-07-31 2018-06-30 13F BOSTON BEER CL A 100557107 1,470 -8 -0.54 441 58.06 0.0023
2018-05-14 2018-03-31 13F BOSTON BEER CL A 100557107 1,478 -23 -1.53 279 -2.79 0.0015
2018-02-12 2017-12-31 13F BOSTON BEER CL A 100557107 1,501 1,501 287 0.0016
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.