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Brown & Brown
BRO

715 hedge funds and large institutions have $18B invested in Brown & Brown in 2024 Q1 according to their latest regulatory filings, with 98 funds opening new positions, 271 increasing their positions, 232 reducing their positions, and 58 closing their positions.

New
Increased
Maintained
Reduced
Closed

976% more call options, than puts

Call options by funds: $18.9M | Put options by funds: $1.76M

69% more first-time investments, than exits

New positions opened: 98 | Existing positions closed: 58

36% more funds holding in top 10

Funds holding in top 10: 11 → 15 (+4)

18% more capital invested

Capital invested by funds: $15.3B → $18B (+$2.76B)

17% more repeat investments, than reductions

Existing positions increased: 271 | Existing positions reduced: 232

5% more funds holding

Funds holding: 682 → 715 (+33)

3.33% less ownership

Funds ownership: 75.58% → 72.25% (-3.3%)

Holders
715
Holders Change
+33
Holders Change %
+4.84%
% of All Funds
10.3%
Holding in Top 10
15
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+36.36%
% of All Funds
0.22%
New
98
Increased
271
Reduced
232
Closed
58
Calls
$18.9M
Puts
$1.76M
Net Calls
+$17.2M
Net Calls Change
+$8.51M

Top Buyers

1
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
+$64.4M
2
Invesco
Invesco
Georgia
+$52.6M
3
Adage Capital Partners
Adage Capital Partners
Massachusetts
+$38.4M
4
Capital World Investors
Capital World Investors
California
+$38.1M
5
Allianz Asset Management
Allianz Asset Management
Germany
+$35.3M

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$734M
2
First Eagle Investment Management
First Eagle Investment Management
New York
-$80.3M
3
Select Equity Group
Select Equity Group
New York
-$56.6M
4
Allspring Global Investments
Allspring Global Investments
North Carolina
-$53.4M
5
Millennium Management
Millennium Management
New York
-$50.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
CAM
301
Cacti Asset Management
Georgia
$1.88M – – –
TI
302
Tidal Investments
Wisconsin
$1.86M +$147K +1,828 +9%
PAM
303
Panagora Asset Management
Massachusetts
$1.86M -$46.7K -581 -3%
SC
304
Sepio Capital
Utah
$1.85M -$95.8K -1,192 -5%
PIM
305
Penobscot Investment Management
Massachusetts
$1.85M +$214K +2,665 +14%
IMRF
306
Illinois Municipal Retirement Fund
Illinois
$1.81M – – –
Cambridge Investment Research Advisors
307
Cambridge Investment Research Advisors
Iowa
$1.8M +$195K +2,430 +13%
OCA
308
Otter Creek Advisors
Florida
$1.8M +$1.65M +20,547 New
OPERF
309
Oregon Public Employees Retirement Fund
Oregon
$1.77M +$145K +1,800 +10%
Nordea Investment Management
310
Nordea Investment Management
Sweden
$1.77M +$61.9K +770 +4%
Voloridge Investment Management
311
Voloridge Investment Management
Florida
$1.77M -$15.7M -195,897 -91%
GIBU
312
Gulf International Bank (UK)
United Kingdom
$1.75M – – –
PI
313
PGGM Investments
Netherlands
$1.74M -$58.4K -726 -4%
CI
314
CX Institutional
Indiana
$1.71M +$30.2K +376 +2%
OSAM
315
O'Shaughnessy Asset Management
Connecticut
$1.7M +$252K +3,139 +19%
EI
316
Ethic Inc
New York
$1.69M +$363K +4,517 +30%
TRSOTSOK
317
Teachers Retirement System of the State of Kentucky
Kentucky
$1.69M -$74K -920 -5%
Northwestern Mutual Wealth Management
318
Northwestern Mutual Wealth Management
Wisconsin
$1.68M -$15.4K -191 -1%
NA
319
NewEdge Advisors
Louisiana
$1.67M +$5.55K +69 +0.4%
MML Investors Services
320
MML Investors Services
Massachusetts
$1.6M +$25.6K +319 +2%
CPBTD
321
Central Pacific Bank - Trust Division
Hawaii
$1.6M +$1.49M +18,511 New
PFS
322
Prospera Financial Services
Texas
$1.59M +$95.3K +1,186 +7%
II
323
Inspire Investing
Idaho
$1.58M -$132K -1,641 -8%
KRS
324
Kentucky Retirement Systems
Kentucky
$1.57M -$77.3K -961 -5%
TWM
325
Trueblood Wealth Management
Ohio
$1.55M -$43.5K -541 -3%
11 12
13
14 15

BRO Hedge Fund Activity: Q1 2024 in Review

715 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in Brown & Brown (BRO) for Q1 2024, worth a combined $18B — up 18% from $15.3B a quarter earlier.

Buyers outnumbered sellers: 98 funds opened new BRO positions and 58 closed out — a net gain of 40 holders — while 271 added to existing stakes and 232 trimmed.

The largest buyer was Manulife (Manufacturers Life Insurance), adding an estimated $64.4M. The largest seller was Morgan Stanley, cutting an estimated $734M.

  • 715 institutional investors held Brown & Brown (BRO) as of Q1 2024, up from 682 in Q4 2023.
  • Funds reported $18B of Brown & Brown stock for Q1 2024, up 18% quarter-over-quarter.
  • 98 funds opened new Brown & Brown positions in Q1 2024 and 58 closed out, a net change of +40 holders.
  • The largest Brown & Brown buyer in Q1 2024 was Manulife (Manufacturers Life Insurance), an estimated $64.4M added.
  • The largest Brown & Brown seller in Q1 2024 was Morgan Stanley, an estimated $734M sold.

Based on aggregated 13F filings for Q1 2024.