Capital Returns Management’s Brown & Brown BRO Stock Holding History

Capital Returns Management’s Portfolio BRO Stock Details BRO Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q2	–	Sell	-452,916	Closed	-$11.5M	–	30
2018 Q1	$11.5M	Sell	452,916 -152,200	-25%	-$3.98M	3.52%	15
2017 Q4	$15.6M	Sell	605,116 -26,200	-4%	-$658K	4.83%	13
2017 Q3	$15.2M	Sell	631,316 -36,284	-5%	-$814K	4.43%	12
2017 Q2	$14.4M	Sell	667,600 -411,400	-38%	-$8.82M	4.82%	11
2017 Q1	$22.5M	Buy	1,079,000 +165,000	+18%	+$3.57M	6.78%	6
2016 Q4	$20.5M	Buy	+914,000	New	+$18.6M	8.74%	4
2014 Q2	–	Sell	-332,994	Closed	-$5.12M	–	19
2014 Q1	$5.12M	Buy	332,994 +56,000	+20%	+$860K	4.44%	13
2013 Q4	$4.35M	Buy	+276,994	New	+$4.39M	3.99%	13

Other funds holding BRO

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

First Eagle Investment Management New York $59B AUM 32.99% 1-Year Est. Return

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Principal Financial Group Des Moines, Iowa $187B AUM 18.48% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

Victory Capital Management San Antonio, Texas $156B AUM 27.51% 1-Year Est. Return

Select Equity Group New York $19.5B AUM 17.33% 1-Year Est. Return

CCP

Clarkston Capital Partners Rochester, Michigan $1.31B AUM 3.79% 1-Year Est. Return

Capital Returns Management's BRO Position: Q2 2018 in Review

Capital Returns Management sold out of Brown & Brown (BRO) in Q2 2018, closing a stake of 452,916 shares — an estimated $11.5M sold.

Capital Returns Management first reported a position in BRO in Q4 2013 and held it in 8 quarters. The position peaked at $22.5M in Q1 2017. 306 funds tracked by Wall St. Rank hold BRO as of Q2 2018.

Capital Returns Management reported no remaining Brown & Brown position as of Q2 2018 after selling out during the quarter.
Capital Returns Management sold 452,916 Brown & Brown shares in Q2 2018, an estimated $11.5M.
Capital Returns Management first reported a position in Brown & Brown in Q4 2013 and held it in 8 quarters.
Capital Returns Management's Brown & Brown position peaked at $22.5M in Q1 2017.
306 funds tracked by Wall St. Rank held Brown & Brown as of Q2 2018.

Based on Capital Returns Management's 13F filing for Q2 2018, filed 14 Aug 2018.