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 861 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.32%.

Chief Executive OfficerJ. 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: 861
Value Held: $24.4B
Shares Held: 260.2M
Avg Position: $28.3M
Median Position: $1.0M

Hedge Funds

Hedge Funds: 59
Value Held: $1.8B
Shares Held: 18.7M
Avg Position: $29.8M
Median Position: $4.5M

Ownership Breakdown

Institutional (non-HF)

73.12%

$22.6B

Hedge Funds

5.68%

$1.8B

Retail & Other

21.19%

$6.6B

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 5m+	$6.69T
B BlackRock, Inc. Institution	-	$2.0B 0.03% of portfolio	6.36% 21.0M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
C Capital World Investors Institution	-	$1.6B 0.22% of portfolio	5.30% 17.5M shares	Q2 2023 Held for 2y 5m	$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 5m+	$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 5m+	$2.88T
FMR LLC Institution	-	$1.1B 0.06% of portfolio	3.62% 12.0M shares	Q4 2013 Held for 11y 11m	$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 5m+	$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 8 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 2m	$24.4B
R ROYAL BANK OF CANADA Institution	-	$458.4M 0.08% of portfolio	1.48% 4.9M shares	≤ Q2 2013 Held for 12y 5m+	$542.04B

Net Capital Flow

Institutional buying and selling activity for BRO in Q3 2025

Net Flow: −$590.0M
Buyers: 391
Sellers: 400
Total Bought: +$2.9B
Total Sold: −$3.5B
Avg Position: $26.8M

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
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
STATE STREET CORP Institution	+$61.9M +660.0K shares	$1.2B 13.1M shares

Biggest Sellers

Institution	Net Sold	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$488.4M −5.2M shares	$5.7M 60.5K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$416.4M −4.4M shares	$1.6M 16.6K shares
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
A Atlantic Trust Group, LLC Institution	−$127.5M −1.4M shares	$5.8M 61.7K 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
S SOROS FUND MANAGEMENT LLC Institution	−$93.0M −991.5K shares	$797.2K 8.5K shares

Entry and Exit Activity

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

New Positions: 59
New Value: $325.6M
Exited Positions: 118
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	James Earl Inglis President	7.65% $27.4M	0.09% 292.5K shares	Q3 2021 Held for 4y 2m	$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 2m	$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 3y 11m	$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 2 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 8y 11m	$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 3y 11m	$1.4B
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 5m+	$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 5 months	$1.7B
V Vancity Investment Management Ltd Institution	-	3.62% $27.2M	0.09% 289.9K shares	Q1 2025 Held for 8 months	$750.8M
Summit Wealth Partners, LLC RIA/Wealth	Chad Aaron Warrick CEO	3.42% $18.9M	0.06% 201.7K shares	Q4 2019 Held for 5y 11m	$553.1M

Hedge Fund Spotlight

Discover hedge funds investing in BRO

FORA Capital, LLC

Hedge Fund • Quant

Portfolio ManagerStanislav Nmn Shalunov

Portfolio Value: $567.3M
Positions: 457
Last Reported: Q3 2025

Sector Allocation

Position in Brown & Brown

Market Value: $2.7M
Shares Held: 28.5K
Portfolio Weight: 0.47%
Owned Since: 2025-Q3

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