What smart money is saying about Starbucks
2 funds in our archive have pitched Starbucks, most recently Polen Global Growth in June 2025.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items. The company also licenses its trademarks through licensed stores, and grocery and foodservice accounts. The company offers its products under the Starbucks, Teavana, Seattle's Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve, and Princi brands. As of October 3, 2021, it operated 16,826 company-operated and licensed stores in North America; and 17,007 company-operated and licensed stores internationally. The company was founded in 1971 and is based in Seattle, Washington.
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Fund signal · last 12 months
9 lettersMore funds are selling than buying
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q1 2025 and Q3 2026, 11 fund letters reported a position in Starbucks, with 6 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 4 | 0 | 1 | 0 |
| Q2 2026 | 3 | 0 | 3 | 0 |
| Q1 2026 | 1 | 0 | 0 | 0 |
| Q4 2025 | 1 | 0 | 1 | 0 |
| Q2 2025 | 1 | 0 | 1 | 1 |
| Q1 2025 | 1 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 11 positions · 7 moves
- TrimmedPolen Capital Focus GrowthSeptember 2026
“Lastly, we trimmed our position in Starbucks to help fund the purchase of ASML.”
Starbucks - September 2026
“Thomas Hodges: The portfolio outperformed in the third quarter, and it's produced a solid absolute return in the year to date. However, that year to date return remains some way behind the index return, buoyed by an exuberant market. What's encouraging is what's happening underneath the portfolio surface. More than two-thirds of holdings have recently seen upward earnings revisions. Companies that had previously been detractors earlier in the year, like Accenture and Eden Red, they were among the strongest contributors this quarter. We're also seeing better operational progress from businesses like Analog Devices, Jack Henry and Starbucks, while dividend growth continues to come through across the portfolio.”
Starbucks - TrimmedPolen Focus GrowthSeptember 2026
“Lastly, we trimmed our position in Starbucks to help fund the purchase of ASML.”
Starbucks - September 2026
“Thomas Hodges: The portfolio's produced a solid absolute return in the year to date. However, that year to date return remains some way behind the index return, buoyed by an exuberant market. What's encouraging is what's happening underneath the portfolio surface. More than two-thirds of holdings have recently seen upward earnings revisions. Companies that had previously been detractors earlier in the year, like Accenture and Eden Red, they were among the strongest contributors this quarter. We're also seeing better operational progress from businesses like Analog Devices, Jack Henry and Starbucks, while dividend growth continues to come through across the portfolio. ”
Starbucks - ExitedDiamond Hill Select FundJune 2026
“• Shares of regional bank KeyCorp and coffee chain Starbucks were sold to allocate funds to more attractive opportunities.”
Starbucks - June 2026
“In consumer discretionary, CarMax rebounded as its comparable sales improved, and Starbucks shares were strong as its turnaround is gaining traction. We eliminated Starbucks as it approached our estimate of intrinsic value.”
Starbucks - TrimmedPolen Capital Global GrowthJune 2026
“Portfolio Activity In Q2 2026, we initiated new positions in GE Aerospace, GE Vernova, Howmet Aerospace, Hermès International, Keyence, and Rheinmetall while selling our holdings in Boston Scientific, Siemens Healthineers, and Zoetis. During the period we also added to our positions in ASML and Idexx Labs and trimmed our positions in Starbucks, Oracle, Shopify, Aon and Broadcom.”
Starbucks - HoldsPolen Focus GrowthMarch 2026
“Starbucks was the top performing absolute and relative contributor in Q1 amid positive signs that CEO Brian Nicol’s multi - year turnaround strategy is beginning to bear fruit. Comparable store sales have ticked up, and the company is seeing improved results from stores that have undergone a revamp as part of the overall turnaround strategy. Our confidence in the new management team and their ability to execute a multi - pronged, sensible and achievable plan was a primary reason for reacquiring the company last year, in addition to the non - cyclical characteristics that the company possess which were on display amidst the volatility so far this year.”
Starbucks - December 2025
“The Strategy also closed positions in Netflix and T-Mobile US in communication services, Lenovo in IT, Starbucks and Airbnb in consumer discretionary, Tokio Marine, Marsh & McLennan and Sony Financial Group in financials as well as Argenx, Zai Lab and MoonLake Immunotherapeutics in health care.”
Starbucks - June 2025
“We sold Starbucks Corporation (SBUX, 2.5 conviction) during the quarter as its price exceeded our assessed value.”
Starbucks - March 2025
“That said, beverage holdings Starbucks and Monster both held up well during the quarter.”
Starbucks
Fund coverage · 2 theses
- Polen Global GrowthJune 2025
Starbucks is poised for substantial growth under new CEO Brian Niccol, whose practical turnaround plan aims to simplify operations and enhance customer experience across its stores.
Read the full thesis - Polen Focus GrowthMarch 2025
Starbucks is well-positioned for a turnaround under new CEO Brian Niccol, whose multi-faceted improvement plan aims to enhance store operations and customer experience, driving future growth and margin expansion.
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