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Brown & Brown
BRO

271 hedge funds and large institutions have $4.59B invested in Brown & Brown in 2016 Q4 according to their latest regulatory filings, with 41 funds opening new positions, 99 increasing their positions, 85 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

179% more call options, than puts

Call options by funds: $588K | Put options by funds: $211K

75% more funds holding in top 10

Funds holding in top 10: 4 → 7 (+3)

58% more first-time investments, than exits

New positions opened: 41 | Existing positions closed: 26

19% more capital invested

Capital invested by funds: $3.86B → $4.59B (+$726M)

16% more repeat investments, than reductions

Existing positions increased: 99 | Existing positions reduced: 85

5% more funds holding

Funds holding: 258 → 271 (+13)

1.08% less ownership

Funds ownership: 146.94% → 145.86% (-1.1%)

Holders
271
Holders Change
+13
Holders Change %
+5.04%
% of All Funds
6.78%
Holding in Top 10
7
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+75%
% of All Funds
0.17%
New
41
Increased
99
Reduced
85
Closed
26
Calls
$588K
Puts
$211K
Net Calls
+$377K
Net Calls Change
-$264K

Top Buyers

1
Citadel Advisors
Citadel Advisors
Florida
+$66.1M
2
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
+$20.4M
3
Select Equity Group
Select Equity Group
New York
+$20.2M
4
CRM
Capital Returns Management
New York
+$18.6M
5
Vanguard Group
Vanguard Group
Pennsylvania
+$15.5M

Top Sellers

1
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
-$63M
2
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
-$37.2M
3
TSW
Thompson Siegel & Walmsley
Virginia
-$21.9M
4
Fidelity Investments
Fidelity Investments
Massachusetts
-$20.9M
5
Renaissance Technologies
Renaissance Technologies
New York
-$10.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
PPA
101
Parametric Portfolio Associates
Washington
$3.7M +$120K +5,928 +4%
UBS AM
102
UBS AM
Illinois
$3.69M -$1.33M -65,256 -28%
Aviva
103
Aviva
United Kingdom
$3.54M +$157K +7,710 +5%
FMC
104
First Merchants Corp
Indiana
$3.43M +$116K +5,692 +4%
CCP
105
Centaur Capital Partners
Texas
$3.25M +$915K +45,000 +45%
AAMU
106
AEGON Asset Management (UK)
United Kingdom
$3.24M -$188K -9,240 -6%
Russell Investments Group
107
Russell Investments Group
United Kingdom
$3.16M +$2.87M +141,158 New
State of Tennessee, Department of Treasury
108
State of Tennessee, Department of Treasury
Tennessee
$3.14M – – –
CLOS
109
Compagnie Lombard Odier SCmA
Switzerland
$2.94M -$2.66M -131,000 -50%
Susquehanna International Group
110
Susquehanna International Group
Pennsylvania
$2.94M -$309K -15,200 -10%
State of Wisconsin Investment Board
111
State of Wisconsin Investment Board
Wisconsin
$2.86M -$437K -21,512 -14%
Federated Hermes
112
Federated Hermes
Pennsylvania
$2.78M -$94.5K -4,648 -4%
HW
113
Hancock Whitney
Mississippi
$2.76M -$366K -18,000 -13%
CIC
114
Crawford Investment Counsel
Georgia
$2.6M +$407K +20,000 +21%
Nisa Investment Advisors
115
Nisa Investment Advisors
Missouri
$2.58M -$183K -9,000 -7%
Ohio Public Employees Retirement System (OPERS)
116
Ohio Public Employees Retirement System (OPERS)
Ohio
$2.51M +$261K +12,858 +12%
BCM
117
Buckhead Capital Management
Georgia
$2.48M -$110K -5,400 -5%
MSA
118
Mason Street Advisors
Wisconsin
$2.41M +$25K +1,228 +1%
MERSOM
119
Municipal Employees' Retirement System of Michigan
Michigan
$2.35M +$6.91K +340 +0.3%
Renaissance Technologies
120
Renaissance Technologies
New York
$2.23M -$10.6M -523,200 -84%
LMGAM
121
Liberty Mutual Group Asset Management
Massachusetts
$2.2M +$132K +6,500 +7%
UR
122
USCA RIA
Texas
$2.13M +$1.93M +95,114 New
JHIU
123
Janus Henderson Investors US
Colorado
$2.08M +$236K +11,600 +14%
Voloridge Investment Management
124
Voloridge Investment Management
Florida
$2.08M +$1.89M +92,834 New
ASRS
125
Arizona State Retirement System
Arizona
$1.99M -$175K -8,606 -9%
3 4
5
6 7

BRO Hedge Fund Activity: Q4 2016 in Review

271 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Brown & Brown (BRO) for Q4 2016, worth a combined $4.59B — up 19% from $3.86B a quarter earlier.

Buyers outnumbered sellers: 41 funds opened new BRO positions and 26 closed out — a net gain of 15 holders — while 99 added to existing stakes and 85 trimmed.

The largest buyer was Citadel Advisors, adding an estimated $66.1M. The largest seller was Hotchkis & Wiley Capital Management, cutting an estimated $63M.

  • 271 institutional investors held Brown & Brown (BRO) as of Q4 2016, up from 258 in Q3 2016.
  • Funds reported $4.59B of Brown & Brown stock for Q4 2016, up 19% quarter-over-quarter.
  • 41 funds opened new Brown & Brown positions in Q4 2016 and 26 closed out, a net change of +15 holders.
  • The largest Brown & Brown buyer in Q4 2016 was Citadel Advisors, an estimated $66.1M added.
  • The largest Brown & Brown seller in Q4 2016 was Hotchkis & Wiley Capital Management, an estimated $63M sold.

Based on aggregated 13F filings for Q4 2016.