Marshfield Associates’s Brown & Brown BRO Stock Holding History

Marshfield Associates’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
2015 Q3	–	Sell	-181,290	Closed	-$2.98M	–	24
2015 Q2	$2.98M	Sell	181,290 -1,855,864	-91%	-$30.3M	0.23%	22
2015 Q1	$33.7M	Sell	2,037,154 -1,132,340	-36%	-$18.3M	2.54%	17
2014 Q4	$52.2M	Sell	3,169,494 -98,864	-3%	-$1.59M	3.82%	13
2014 Q3	$52.5M	Buy	+3,268,358	New	+$51.7M	4.06%	9
2014 Q2	–	Sell	-6,241,484	Closed	-$96M	–	24
2014 Q1	$96M	Sell	6,241,484 -110,664	-2%	-$1.7M	7.05%	4
2013 Q4	$99.7M	Sell	6,352,148 -163,304	-3%	-$2.59M	7.43%	4
2013 Q3	$105M	Sell	6,515,452 -61,208	-0.9%	-$1,000K	7.94%	3
2013 Q2	$106M	Buy	+6,576,660	New	+$104M	8.28%	3

Other funds holding BRO

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

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

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

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

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

Diamond Hill Capital Management Columbus, Ohio $16B AUM 4.15% 1-Year Est. Return

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

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

FPP

Findlay Park Partners London, United Kingdom $7.17B AUM 17.27% 1-Year Est. Return

Marshfield Associates's BRO Position: Q3 2015 in Review

Marshfield Associates sold out of Brown & Brown (BRO) in Q3 2015, closing a stake of 181,290 shares — an estimated $2.98M sold.

Marshfield Associates first reported a position in BRO in Q2 2013 and held it in 8 quarters. The position peaked at $106M in Q2 2013. 224 funds tracked by Wall St. Rank hold BRO as of Q3 2015.

Marshfield Associates reported no remaining Brown & Brown position as of Q3 2015 after selling out during the quarter.
Marshfield Associates sold 181,290 Brown & Brown shares in Q3 2015, an estimated $2.98M.
Marshfield Associates first reported a position in Brown & Brown in Q2 2013 and held it in 8 quarters.
Marshfield Associates's Brown & Brown position peaked at $106M in Q2 2013.
224 funds tracked by Wall St. Rank held Brown & Brown as of Q3 2015.

Based on Marshfield Associates's 13F filing for Q3 2015, filed 13 Nov 2015.