Brown & Brown

BRO • NYSE

Brown & Brown is a insurance - brokers company in the financial services sector on NYSE, led by J. Powell Brown, with a market cap of $27.2B. As of Q3 2025, 79% of shares are held by 862 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.32%.

CEOJ. Powell Brown

Market Cap$27.2B

Insurance - Brokers

Financial Services

Employees16.2K

Websitebbinsurance.com

Country

United States of America

Overview

Overview of institutional ownership in BRO as of Q3 2025 with a market cap of $30.9B

All Institutions

Institutions: 862
Value Held: $24.4B
Shares Held: 260.3M
Avg Position: $28.3M
Median Position: $1.0M

Hedge Funds

Hedge Funds: 60
Value Held: $1.8B
Shares Held: 18.8M
Avg Position: $29.4M
Median Position: $4.8M

Ownership Breakdown

Institutional (non-HF)

73.12%

$22.6B

Hedge Funds

5.71%

$1.8B

Retail & Other

21.17%

$6.5B

Based on market cap of $30.9B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BRO as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$3.5B 0.05% of portfolio	11.32% 37.3M shares	≤ Q2 2013 Held for 12y 6m+	$6.69T
BlackRock, Inc. Institution	Laurence D. Fink CEO	$2.0B 0.03% of portfolio	6.36% 21.0M shares	≤ Q2 2013 Held for 12y 6m+	$5.67T
C Capital World Investors Institution	-	$1.6B 0.22% of portfolio	5.30% 17.5M shares	Q2 2023 Held for 2y 6m	$730.00B
PRINCIPAL FINANCIAL GROUP INC Institution	Deanna Strable CEO	$1.4B 0.73% of portfolio	4.67% 15.4M shares	≤ Q2 2013 Held for 12y 6m+	$197.71B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.2B 0.04% of portfolio	3.98% 13.1M shares	≤ Q2 2013 Held for 12y 6m+	$2.88T
FMR LLC Institution	-	$1.1B 0.06% of portfolio	3.62% 12.0M shares	Q4 2013 Held for 12 years	$1.92T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$731.9M 0.05% of portfolio	2.38% 7.8M shares	≤ Q2 2013 Held for 12y 6m+	$1.57T
PARNASSUS INVESTMENTS /CA Long Only Manager	Benjamin Elliot Allen CEO	$641.0M 1.48% of portfolio	2.07% 6.8M shares	Q1 2025 Held for 9 months	$43.4B
Select Equity Group, L.P. Hedge Fund•Multi-Strategy	George Stabler Loening Chairman	$569.9M 2.34% of portfolio	1.84% 6.1M shares	Q3 2016 Held for 9y 3m	$24.4B
R ROYAL BANK OF CANADA Institution	-	$458.4M 0.08% of portfolio	1.48% 4.9M shares	≤ Q2 2013 Held for 12y 6m+	$542.04B

Net Capital Flow

Institutional buying and selling activity for BRO in Q3 2025

Traded: +$1.3B
Buyers: 493
Sellers: 387
Total Bought: +$3.4B
Total Sold: −$2.1B
Avg Position: $24.9M

Biggest Buyers

Institution	Net Bought	Current Position
C Capital World Investors Institution	+$734.2M +7.8M shares	$1.6B 17.5M shares
FMR LLC Institution	+$329.6M +3.5M shares	$1.1B 12.0M shares
K KEMPEN CAPITAL MANAGEMENT N.V. Institution	+$182.8M +1.9M shares	$182.8M 1.9M shares
PRINCIPAL FINANCIAL GROUP INC Institution	+$170.8M +1.8M shares	$1.4B 15.4M shares
VANGUARD GROUP INC Institution	+$160.0M +1.7M shares	$3.5B 37.3M shares
R ROYAL BANK OF CANADA Institution	+$158.7M +1.7M shares	$458.4M 4.9M shares
JPMORGAN CHASE & CO Institution	+$114.2M +1.2M shares	$181.2M 1.9M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$106.6M +1.1M shares	$113.0M 1.2M shares
C Close Asset Management Ltd Institution	+$89.7M +956.9K shares	$101.9M 1.1M shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	+$87.5M +932.6K shares	$240.8M 2.6M shares

Biggest Sellers

Institution	Net Sold	Current Position
Ghisallo Capital Management LLC Hedge Fund•Multi-Strategy	−$173.5M −1.9M shares	$23.4M 250.0K shares
Invesco Ltd. ETF Provider	−$165.5M −1.8M shares	$225.3M 2.4M shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	−$126.9M −1.1M shares	Sold Off 0 shares
Woodline Partners LP Hedge Fund•Long/Short	−$119.6M −1.1M shares	Sold Off 0 shares
H Handelsbanken Fonder AB Institution	−$105.4M −1.1M shares	$12.7M 135.9K shares
MORGAN STANLEY RIA/Wealth	−$96.3M −1.0M shares	$440.3M 4.7M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$77.4M −825.5K shares	$9.3M 98.7K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$75.0M −676.7K shares	Sold Off 0 shares
Allspring Global Investments Holdings, LLC Long Only Manager	−$61.8M −666.2K shares	$254.6M 2.7M shares
FIRST TRUST ADVISORS LP ETF Provider	−$52.8M −562.9K shares	$7.6M 81.3K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BRO in Q3 2025

New Positions: 60
New Value: $325.8M
Exited Positions: 119
Exited Value: $731.8M

New Positions

Institution	Position Value
K KEMPEN CAPITAL MANAGEMENT N.V. Institution	$182.8M 1.9M shares
Susquehanna Portfolio Strategies, LLC Private Equity	$26.4M 281.5K shares
C Capitolis Liquid Global Markets LLC Private Equity	$25.2M 268.9K shares
KENSICO CAPITAL MANAGEMENT CORP Hedge Fund•Multi-Strategy	$23.6M 252.0K shares
I Incline Global Management LLC Hedge Fund•Long/Short	$15.6M 165.8K shares
T Taikang Asset Management Co Ltd Institution	$12.3M 131.0K shares
2 2Xideas AG Institution	$6.6M 70.7K shares
J JACKSON HILL ADVISORS, LLC Hedge Fund•Value	$6.1M 65.0K shares
Westbourne Investment Advisors, Inc. RIA/Wealth	$5.6M 60.0K shares
SAWGRASS ASSET MANAGEMENT LLC Long Only Manager	$5.2M 55.4K shares

Exited Positions

Institution	Previous Position
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$126.9M 1.1M shares
Woodline Partners LP Hedge Fund•Long/Short	$119.6M 1.1M shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	$75.0M 676.7K shares
G Gillson Capital LP Hedge Fund•Long/Short	$50.7M 456.9K shares
COOKSON PEIRCE & CO INC RIA/Wealth	$43.4M 391.7K shares
Blackstone Group L.P. Institution	$38.8M 350.0K shares
Fortress Investment Group LLC RIA/Wealth	$26.6M 240.0K shares
L Longaeva Partners L.P. Institution	$24.9M 225.0K shares
M MOORE CAPITAL MANAGEMENT, LP Hedge Fund•Global Macro	$24.8M 223.4K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$22.5M 203.1K shares

Options Activity

Institutions with the largest Call and Put options positions in BRO as of Q3 2025

Call Positions: 8
Call Value: $15.8M
Put Positions: 4
Put Value: $6.1M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$7.2M 772.0 contracts
J JANE STREET GROUP, LLC Institution	$4.6M 486.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.3M 355.0 contracts
W WOLVERINE TRADING, LLC Institution	$623.2K 67.0 contracts
UBS Group AG Institution	$18.8K 2.0 contracts
BARCLAYS PLC Institution	$9.4K 1.0 contracts
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	- - contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.4M 469.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.4M 147.0 contracts
W WOLVERINE TRADING, LLC Institution	$362.8K 39.0 contracts
Monashee Investment Management LLC Hedge Fund•Sector	- - contracts

Most Committed Institutions

Institutions with BRO as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Philo Smith Capital Corp Hedge Fund•Sector	Michele Corridor Ogrady President	7.65% $27.4M	0.09% 292.5K shares	Q3 2021 Held for 4y 3m	$358.4M
G GOBI CAPITAL LLC Hedge Fund•Long/Short	Bo Leilei Shan Managing Partner	4.99% $102.8M	0.33% 1.1M shares	Q3 2024 Held for 1y 3m	$2.1B
SPRING CAPITAL MANAGEMENT, LLC RIA/Wealth	Richard Earl Mcelreath President	4.62% $9.4M	0.03% 100.5K shares	Q4 2021 Held for 4 years	$204.2M
I Incline Global Management LLC Hedge Fund•Long/Short	Jeffrey Louis Lignelli CEO	4.61% $15.6M	0.05% 165.8K shares	Q3 2025 Held for 3 months	$337.3M
Tandem Investment Advisors, Inc. Long Only Manager	John Brian Carew CEO	4.44% $129.9M	0.42% 1.4M shares	Q4 2016 Held for 9 years	$2.9B
Dundas Partners LLP Long Only Manager	Alan Nmn Mcfarlane Chairman	4.20% $59.4M	0.19% 633.5K shares	Q4 2021 Held for 4 years	$1.4B
L LYNWOOD PRICE CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	Jimmy Lamont Price (Iii) CIO	4.13% $8.3M	0.03% 88.0K shares	Q2 2025 Held for 6 months	$199.6M
FENIMORE ASSET MANAGEMENT INC Long Only Manager	Anne B. Putnam CEO	4.08% $202.3M	0.65% 2.2M shares	≤ Q2 2013 Held for 12y 6m+	$5.0B
Burkehill Global Management, LP Hedge Fund•Event Driven	Christopher Daniel Rich Managing Partner	4.06% $70.3M	0.23% 750.0K shares	Q2 2025 Held for 6 months	$1.7B
V Vancity Investment Management Ltd Institution	-	3.62% $27.2M	0.09% 289.9K shares	Q1 2025 Held for 9 months	$750.8M

Hedge Fund Spotlight

Discover hedge funds investing in BRO

RENAISSANCE TECHNOLOGIES LLC

Hedge Fund • Quant

Portfolio ManagerDavid Allen Lippe

Portfolio Value: $75.8B
Positions: 3,421
Last Reported: Q3 2025

Sector Allocation

Position in Brown & Brown

Market Value: $92.6M
Shares Held: 987.0K
Portfolio Weight: 0.12%
Owned Since: 2022-Q4

Top Holding	Sector	Market Value	Weight
1 Palantir Technologies Inc. PLTR	Software - Infrastructure Technology	$1.6B	2.06%
2 Nvidia NVDA	Semiconductors Technology	$1.1B	1.39%
3 Roblox RBLX	Electronic Gaming & Multimedia Technology	$953.5M	1.26%