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

SecuritySAM / The Boston Beer Company, Inc.
InstitutionLazard Asset Management Llc
Latest Disclosed Ownership0 shares
Latest Disclosed Value $ 0
Lazard Asset Management Llc closes position in SAM / The Boston Beer Company, Inc.

On February 17, 2026 - Lazard Asset Management Llc filed a 13F-HR form disclosing ownership of 0 shares of The Boston Beer Company, Inc. (US:SAM) valued at $0 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 14, 2025 disclosing 2,055 shares of The Boston Beer Company, Inc.. The current value of the position is $0 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)
2026-02-17 2025-12-31 13F BOSTON BEER CL A 100557107 0 -100.00 0
2025-11-14 2025-09-30 13F BOSTON BEER CL A 100557107 2,055 -914 -30.78 434 0.0006
2025-08-14 2025-06-30 13F BOSTON BEER Common Stock 100557107 2,969 2,206 289.12 1 0.0008
2025-05-15 2025-03-31 13F BOSTON BEER Common Stock 100557107 763 248 48.16 0 0.0003
2025-02-14 2024-12-31 13F BOSTON BEER Common Stock 100557107 515 48 10.28 0 0.0002
2024-11-14 2024-09-30 13F BOSTON BEER Common Stock 100557107 467 -1,467 -75.85 0 0.0002
2024-08-14 2024-06-30 13F BOSTON BEER Common Stock 100557107 1,934 1,779 1,147.74 1 0.0007
2024-07-09 2024-03-31 13F/A-1 BOSTON BEER Common Stock 100557107 155 0 0.00 0 0.0001
2024-05-14 2024-03-31 13F BOSTON BEER Common Stock 100557107 155 0 0 0.0001
2024-02-14 2023-12-31 13F BOSTON BEER Common Stock 100557107 155 0 0.00 0 0.0001
2023-11-14 2023-09-30 13F BOSTON BEER Common Stock 100557107 155 155 0 0.0001
2023-08-15 2023-06-30 13F BOSTON BEER Common Stock 100557107 0 -114 -100.00 0 0.0000
2023-05-15 2023-03-31 13F BOSTON BEER Common Stock 100557107 114 -67 -37.02 0 -100.00 0.0000
2023-02-15 2022-12-31 13F BOSTON BEER Common Stock 100557107 181 21 13.12 59 15.69 0.0001
2022-11-14 2022-09-30 13F BOSTON BEER Common Stock 100557107 160 0 0.00 51 6.25 0.0001
2022-08-09 2022-06-30 13F BOSTON BEER Common Stock 100557107 160 160 48 0.0001
2022-02-09 2021-12-31 13F BOSTON BEER Common Stock 100557107 0 -1,319 -100.00 0 -100.00
2021-11-15 2021-09-30 13F BOSTON BEER Common Stock 100557107 1,319 836 173.08 671 36.38 0.0008
2021-08-12 2021-06-30 13F BOSTON BEER Common Stock 100557107 483 453 1,510.00 492 1,266.67 0.0006
2021-05-14 2021-03-31 13F BOSTON BEER Common Stock 100557107 30 30 36 0.0000
2020-05-14 2020-03-31 13F BOSTON BEER Common Stock 100557107 0 -9 -100.00 0 -100.00
2020-02-13 2019-12-31 13F BOSTON BEER Common Stock 100557107 9 0 0.00 3 0.00 0.0000
2019-11-14 2019-09-30 13F BOSTON BEER Common Stock 100557107 9 9 3 0.0000
2019-07-25 2016-03-31 13F/A-1 BOSTON BEER Common Stock 100557107 0 -585 -100.00 0 -100.00
2019-07-24 2015-12-31 13F/A-1 BOSTON BEER Common Stock 100557107 585 60 11.43 118 7.27 0.0003
2016-02-12 2015-12-31 13F BOSTON BEER Common Stock 100557107 585 60 118
2019-07-15 2015-09-30 13F/A-1 BOSTON BEER Common Stock 100557107 525 100 23.53 110 12.24 0.0003
2015-11-13 2015-09-30 13F BOSTON BEER Common Stock 100557107 525 100 110
2019-07-08 2015-06-30 13F/A-1 BOSTON BEER Common Stock 100557107 425 -160 -27.35 98 -37.18 0.0002
2015-08-13 2015-06-30 13F BOSTON BEER Common Stock 100557107 425 98
2015-06-09 2015-03-31 13F/A-1 BOSTON BEER Common Stock 100557107 585 520 800.00 156 766.67 0.0003
2015-05-15 2015-03-31 13F BOSTON BEER Common Stock 100557107 585 156
2019-08-29 2014-12-31 13F/A-3 BOSTON BEER Common Stock 100557107 65 0 0.00 18 28.57 0.0000
2015-05-20 2014-12-31 13F/A-1 BOSTON BEER Common Stock 100557107 65 0 18 0.0000
2015-06-09 2014-12-31 13F/A-2 BOSTON BEER Common Stock 100557107 65 0 18 0.0000
2015-02-12 2014-12-31 13F BOSTON BEER Common Stock 100557107 65 18
2014-11-07 2014-09-30 13F BOSTON BEER Common Stock 100557107 65 65 14 0.0000
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.