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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
ACH
151
ArrowMark Colorado Holdings
Colorado
$10M – – –
VDI
152
Vaughan David Investments
Illinois
$9.93M +$1.07M +13,372 +13%
QCMNJ
153
Quantum Capital Management (New Jersey)
New Jersey
$9.88M +$9.08M +112,901 New
HBCM
154
Heron Bay Capital Management
Michigan
$9.65M +$39.1K +487 +0.4%
Treasurer of the State of North Carolina
155
Treasurer of the State of North Carolina
North Carolina
$9.53M +$56.5K +703 +0.7%
Aberdeen Group
156
Aberdeen Group
United Kingdom
$9.51M -$901K -11,207 -9%
MGWM
157
Marks Group Wealth Management
Minnesota
$9.5M -$113K -1,405 -1%
Neuberger Berman Group
158
Neuberger Berman Group
New York
$9.41M +$790K +9,826 +10%
HFS
159
Hantz Financial Services
Michigan
$9.39M -$416K -5,180 -5%
SAM
160
Shell Asset Management
Netherlands
$9.3M -$307K -3,818 -4%
Capital Fund Management (CFM)
161
Capital Fund Management (CFM)
France
$9.3M -$840K -10,445 -9%
WIM
162
WealthPlan Investment Management
Nebraska
$9.27M +$8.51M +105,895 New
Korea Investment Corp
163
Korea Investment Corp
South Korea
$9.16M +$195K +2,422 +2%
BA
164
BCM Advisors
Louisiana
$8.94M -$201K -2,500 -2%
BTW
165
Boston Trust Walden
Massachusetts
$8.78M -$2.56M -31,834 -24%
Ohio Public Employees Retirement System (OPERS)
166
Ohio Public Employees Retirement System (OPERS)
Ohio
$8.74M -$1.74M -21,659 -18%
MSV
167
MN Services Vermogensbeheer
Netherlands
$8.56M -$1.05M -13,100 -12%
BFEC
168
Benjamin F. Edwards & Company
Missouri
$8.51M -$23.4K -291 -0.3%
Truist Financial
169
Truist Financial
North Carolina
$8.41M -$1.61M -20,029 -17%
Axa
170
Axa
France
$8.33M -$2.35M -29,283 -24%
Asset Management One
171
Asset Management One
Japan
$8.26M -$332K -4,125 -4%
RAM
172
Resona Asset Management
Japan
$8.25M +$7.57M +94,224 New
Bank of Nova Scotia
173
Bank of Nova Scotia
Ontario, Canada
$8.21M -$5.45M -67,787 -42%
SCM
174
Spring Capital Management
Texas
$8.04M -$357K -4,437 -5%
EP
175
Edgestream Partners
New Jersey
$7.99M +$7.34M +91,269 New
5 6
7
8 9

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.