Molson Coors Beverage Company

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 612 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• DUAL-CLASS STRUCTURE, one basis chosen: company.shares_outstanding (176,681,024) is the total of Class A common stock (2,563,034, unlisted for practical purposes: registered on NYSE as TAP.A but N/A last-sale on 19 Aug 2026 per Nasdaq quote data, effectively untraded) and Class B common stock (174,117,990, the listed NYSE:TAP class, CUSIP 60871R209), both from the 10-Q cover page dated 30 Jul 2026. Every register row's shares/pct_of_company is stated on this combined, total-company basis, EXCLUDING exchangeable shares. Molson Coors Canada, Inc. (a wholly-owned subsidiary) has separately outstanding Class A exchangeable shares (2,678,963) and Class B exchangeable shares (7,093,946) that are economically and dividend-equivalent to, and convertible 1-for-1 into, the corresponding MCBC class, via a Special Class A/B voting stock and voting-trust mechanism. These exchangeable shares are technically issued by a different legal entity and are NOT included in company.shares_outstanding here (the 10-Q cover page reports them in a separate sentence from 'shares outstanding of each of the issuer's classes of common stock'), but the company's own DEF 14A beneficial-ownership table and GAAP weighted-average EPS share count (Basic ~187.5m in Q2 2026, close to 176.7m + 9.8m exchangeable = 186.5m) DO include them. This means the family-control rows (Coors Trust / Pentland) source figures that are proxy-stated INCLUDING exchangeable shares, restated as best as possible onto this file's exchangeable-excluded denominator; see each row's method_note for the resulting ambiguity in their Class A component.
• VOTING STRUCTURE IS NOT A SIMPLE VOTE MULTIPLIER: unlike a typical dual-class company where one class carries N votes/share, Molson Coors' 10-K (Note 14, Stockholders' Equity) states each holder of Class A, Class B, and the corresponding exchangeable shares 'is entitled to one vote for each share held' (share_classes.votes_per_share recorded as 1 for both). The asymmetry is structural, not weighted: 'Class B common stock has fewer voting rights than our Class A common stock... holders of Class B common stock voting together as a single class have the right to elect three directors... as well as the right to vote on certain additional matters,' while Class A common stock (together with the Special Class A voting stock representing Class A exchangeable shares) elects the remaining directors and votes on essentially all other matters requiring stockholder approval. Because Class A is only 1.45% of company.shares_outstanding by count, this small class carries effective control of most Board seats and most stockholder votes, even though nominally 'one vote per share.'
• VOTING TRUST ARRANGEMENT: per the 10-K (Item 1A Risk Factors) and DEF 14A, the Coors Trust (a trust controlled by the Coors family and related parties, via trustee Adolph Coors Company LLC) and Pentland Securities (1981) Inc. and its subsidiary 4280661 Canada Inc. (controlled by the Molson family), which together control more than 90% of Class A common stock and Class A exchangeable shares, have a voting trust agreement combining their voting power over those shares. If the two sides do not agree on a matter (other than director elections), the trustees are required to vote all deposited Class A shares AGAINST the matter; there is no other deadlock-resolution mechanism. This means the trust does not simply amplify family voting power, it gives either family side an effective veto over most stockholder matters. Board nomination is similarly split: a five-member 'Coors Directors' slate and a five-member 'Molson Directors' slate are each nominated by their own family-controlled subcommittee, with the remaining seats (currently a super-majority) independent.
• REGISTER SELF-GATE, computed from this final file using the chart's own arithmetic: 14 register rows. No row uses is_aggregate+rolls_up_into member mechanics in this file; the one confirmed double count (Pentland Securities' 3,449,600 Class B shares also embedded in director Andrew T. Molson's line inside the 'All current directors...as a group (18 persons)' aggregate) was resolved by reducing that aggregate row's own shares field directly from its raw filed 4,265,796 down to 816,196 (see that row's method_note), rather than via a formal member row, since no individual-director rows are recorded. Total = 24,042,798 (Adolph Coors Company LLC) + 5,974,134 (Pentland Securities) + 816,196 (directors/officers group, double-count-adjusted) + 22,487,077 (Vanguard family) + 19,065,434 (Dodge & Cox) + 12,150,389 (BlackRock) + 8,828,265 (Dimensional Fund Advisors) + 8,373,108 (State Street) + 6,316,964 (Invesco) + 5,911,129 (LSV Asset Management) + 4,456,972 (Geode) + 1,183,494 (Fidelity/FMR) + 1,158,993 (Capital Group family) + 251,030 (T. Rowe Price Associates) = 121,015,983 shares. Divided by shares_outstanding 176,681,024 = 68.50% of the company.
• This 68.50% figure is above the brief's 55% flag threshold and was checked before shipping for the three usual causes: (1) mixed instrument: every institutional row is CUSIP 60871R209 Class B common stock, read directly from each holder's own Q2 2026 13F-HR, cross-validated by a tight implied-price band of $38.89-$38.97/share across all 11 institutional filers (including the two thousands-corrected rows, LSV and T. Rowe Associates, which land in the exact same band after conversion, confirming the correction); (2) mixed basis: every register row is stated on the same combined-class, exchangeable-excluded company-total basis, with each row's method_note flagging where a source figure (the two family rows) was stated on a different, wider proxy denominator that includes exchangeable shares; (3) double counting: the one confirmed overlap (Pentland inside the officers/directors group, via Andrew T. Molson, footnote 15) was found and corrected by reducing the group row; footnote 9 was checked and confirms no overlap between the Coors Trust row and David S./Peter J. Coors' individual director lines; no institutional holder appears more than once (Vanguard summed once as a family per the 13F-NT rule, Capital Group summed once as a family after checking all 11 registrants). The elevated total looks like a genuine, sourced feature of this company: Dodge & Cox alone holds 10.8% (an unusually large active stake for a company this size), the Coors and Molson families together hold roughly 17.0% of company-total shares (concentrated in a small, tightly-held Class A plus meaningful Class B stakes), and the ~11 institutional rows summed here hold about 52% of the 174.1m-share Class B pool alone, leaving Class B's free float (net of the family's Class B stakes) at only about 40%, consistent with a mid-cap consumer-staples name with heavy institutional coverage. Cross-checked against data/registers/TAP.json (31 Mar 2026 snapshot, known to over-report but useful as an upper bound and sanity check): every institutional figure in this file is within a plausible one-quarter's change of that snapshot (e.g. LSV 5,921,078 there vs 5,911,129 here; Capital Group 1,158,020 there vs 1,158,993 here; BlackRock 11,697,941 there vs 12,150,389 here), giving confidence these are not Class-confused or duplicated figures.
• HOLDINGS SIDE: searched the Q2 2026 10-Q (period 30 Jun 2026, filed 6 Aug 2026) and the FY2025 10-K (filed 18 Feb 2026, plus Exhibit 21.1 subsidiaries list) for 'equity method', 'joint venture', 'unconsolidated', 'investment in', 'equity investment', 'non-marketable', 'affiliate'. Three positions found: (1) Fevertree Drinks plc, a genuine listed minority stake carried at fair value under ASC 321 (not equity method), $116.9m as of 30 Jun 2026, percentage sourced only to press reporting on a TR-1 filing, not to an SEC filing (see holdings row); (2)+(3) Brewers Retail Inc. (BRI, 'The Beer Store' in Ontario) and Brewers Distributor Ltd. (BDL, Western Canada distribution), both named equity-method joint ventures with a COMBINED, unsplit balance of $145.3m (30 Jun 2026)/$135.7m (31 Dec 2025) covering BRI, BDL and unnamed 'other immaterial investments'; per the rule on combined equity-method balances, both rows carry value_usd: null rather than an invented split. Exhibit 21.1 (18,453 bytes, ~1,480 chars of actual subsidiary-list text) is a bare wholly-owned-subsidiary name list with NO ownership-percentage column and does not mention BRI, BDL, ZOA, Yuengling or Blue Run at all (a genuine negative, not evidence of the wrong search term, per the brief's caution on Exhibit 21 format variance).
• Positions found but NOT recorded as holdings rows, with reasons: ZOA Energy, LLC (energy-drink venture) was increased to a 51% CONTROLLING, CONSOLIDATED stake on 31 Oct 2024 (10-K: 'we further increased our investment in ZOA bringing our ownership interest to 51%. Upon conversion from equity method accounting to consolidation accounting, we recognized a gain of $77.9 million'); Blue Run Spirits, Inc. (acquired Q3 2023) is likewise a majority-owned, consolidated subsidiary with a third-party noncontrolling interest (10-K references 'an increase in one of the noncontrolling interests to its redemption value'; its intangible asset was fully impaired for $75.3 million in Q3 2025). Per the brief, a third party's minority NCI in a Molson Coors-controlled, consolidated subsidiary runs the OTHER way and is not a Molson Coors 'holding'; both are mentioned here for context only, no row. Truss (Canadian cannabis-beverage JV) is a brand/venture SOLD, not a current holding: the 10-K states 'During the year ended December 31, 2023, we sold our 57.5% controlling interest in Truss in Canada to Tilray Brands and recognized a loss of $11.1 million upon the deconsolidation.' The Yuengling Company LLC ('TYC') and Rocky Mountain Metal Container/Rocky Mountain Bottle Company (RMMC/RMBC) are referenced as joint ventures/VIEs in the filings (TYC for Western-US Yuengling distribution; RMMC/RMBC as consolidated VIEs for packaging supply, not equity-method investees) but no equity percentage or investment value tied to a Molson Coors ownership stake was found for either; TYC may fall inside the 10-Q's unnamed 'other immaterial [equity-method] investments' bucket, or may be a pure services/distribution arrangement with no MCBC equity stake at all. MillerCoors (2008-2016, historically a 42%-held JV) was fully acquired to 100% ownership in 2016 and is now a wholly-consolidated operating business, well outside this file's holdings scope; mentioned for the company's own history only.