Boston Beer is a top player in high-end malt beverages and adjacent categories in the US, with strong positions in craft beer, flavored malt beverages, hard cider, and hard seltzer. The bulk of volume and revenue is concentrated in four brands: Samuel Adams, Angry Orchard, Twisted Tea, and Truly. Beverages are produced using a hybrid model leveraging both in-house capacities and third-party breweries through contract arrangements. While the firm is required to use distributors to reach end markets, including retailers and on-premises operators, it also employs 500 internal sales representatives to educate the market about its products. The firm generates almost all sales in the US.

Institution	Shares	Value	Change
Vanguard	1,019,129	$180M	DECREASED
BlackRock	1,015,254	$180M	INCREASED
UBS Group	450,340	$80M	INCREASED
American Century Companies	385,326	$68M	INCREASED
Arrowstreet Capital, Limited Partnership	321,080	$57M	INCREASED

Boston Beer Company (SAM) Ownership & Trading Activity

Top Institutional Holders