Philadelphia Financial Management of San Francisco’s Brown & Brown BRO Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-342,082	Closed	-$6.45M	–	33
2016 Q3	$6.45M	Buy	+342,082	New	+$6.45M	1.43%	31