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Brown & Brown
BRO

566 hedge funds and large institutions have $11.6B invested in Brown & Brown in 2023 Q1 according to their latest regulatory filings, with 53 funds opening new positions, 241 increasing their positions, 178 reducing their positions, and 48 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more call options, than puts

Call options by funds: $3M | Put options by funds: $2.17M

35% more repeat investments, than reductions

Existing positions increased: 241 | Existing positions reduced: 178

10% more first-time investments, than exits

New positions opened: 53 | Existing positions closed: 48

3% more capital invested

Capital invested by funds: $11.3B → $11.6B (+$305M)

0.12% more ownership

Funds ownership: 71.13% → 71.26% (+0.12%)

1% less funds holding

Funds holding: 571 → 566 (-5)

9% less funds holding in top 10

Funds holding in top 10: 11 → 10 (-1)

Holders
566
Holders Change
-5
Holders Change %
-0.88%
% of All Funds
9.02%
Holding in Top 10
10
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-9.09%
% of All Funds
0.16%
New
53
Increased
241
Reduced
178
Closed
48
Calls
$3M
Puts
$2.17M
Net Calls
+$827K
Net Calls Change
-$1.52M

Top Buyers

1
CVA
Ceredex Value Advisors
Florida
+$42.1M
2
Principal Financial Group
Principal Financial Group
Iowa
+$30.4M
3
Rockefeller Capital Management
Rockefeller Capital Management
New York
+$23M
4
BC
Brookfield Corp
Ontario, Canada
+$22M
5
ProShare Advisors
ProShare Advisors
Maryland
+$20.2M

Top Sellers

1
Balyasny Asset Management
Balyasny Asset Management
Illinois
-$62.5M
2
Select Equity Group
Select Equity Group
New York
-$42.7M
3
ZP
Zimmer Partners
New York
-$28.5M
4
CIC
Chilton Investment Company
Connecticut
-$18.5M
5
Point72 Asset Management
Point72 Asset Management
Connecticut
-$17.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
Skandinaviska Enskilda Banken (SEB)
201
Skandinaviska Enskilda Banken (SEB)
Sweden
$2.54M +$215K +3,735 +9%
HighTower Advisors
202
HighTower Advisors
Illinois
$2.52M -$46.3K -805 -2%
SPIA
203
Steward Partners Investment Advisory
New York
$2.51M -$655K -11,392 -21%
IIC
204
Ironwood Investment Counsel
Arizona
$2.48M – – –
HC
205
Henshaw Capital
Massachusetts
$2.46M – – –
DCM
206
Dupont Capital Management
Delaware
$2.44M +$87.6K +1,525 +4%
KFA
207
Kelleher Financial Advisors
New York
$2.41M – – –
URS
208
Utah Retirement Systems
Utah
$2.41M +$5.75K +100 +0.2%
CG
209
Carmignac Gestion
France
$2.33M +$636K +11,062 +38%
Mirae Asset Global Investments
210
Mirae Asset Global Investments
South Korea
$2.32M +$368K +6,411 +19%
ASN
211
Advisory Services Network
Georgia
$2.32M +$127K +2,215 +6%
IG
212
ING Group
Netherlands
$2.29M -$1.44K -25 -0.1%
BFPW
213
BOK Financial Private Wealth
Colorado
$2.29M +$4.14K +72 +0.2%
COPPSERS
214
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$2.29M +$6.44K +112 +0.3%
QCM
215
Quantinno Capital Management
New York
$2.29M -$190K -3,307 -8%
EAM
216
Eagle Asset Management
Florida
$2.27M -$24.3K -423 -1%
Acadian Asset Management
217
Acadian Asset Management
Massachusetts
$2.25M -$2.89M -50,370 -56%
Mariner
218
Mariner
Kansas
$2.23M -$26.1K -454 -1%
DnB Asset Management
219
DnB Asset Management
Norway
$2.2M -$8.68K -151 -0.4%
Handelsbanken Fonder
220
Handelsbanken Fonder
Sweden
$2.17M – – –
TC
221
TAP Consulting
Missouri
$2.17M -$568K -9,890 -21%
Assenagon Asset Management
222
Assenagon Asset Management
Luxembourg
$2.14M +$1.89M +32,958 +762%
IF
223
Integrity Financial
Wyoming
$2.12M – – –
LFS
224
Legacy Financial Strategies
Kansas
$2.1M +$364K +6,340 +21%
State of Tennessee, Department of Treasury
225
State of Tennessee, Department of Treasury
Tennessee
$2.08M +$68.3K +1,189 +3%
7 8
9
10 11

BRO Hedge Fund Activity: Q1 2023 in Review

566 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Brown & Brown (BRO) for Q1 2023, worth a combined $11.6B — up 2.7% from $11.3B a quarter earlier.

Buyers outnumbered sellers: 53 funds opened new BRO positions and 48 closed out — a net gain of 5 holders — while 241 added to existing stakes and 178 trimmed.

The largest buyer was Ceredex Value Advisors, opening a new position worth an estimated $42.1M. The largest seller was Balyasny Asset Management, exiting entirely with an estimated $62.5M sold.

  • 566 institutional investors held Brown & Brown (BRO) as of Q1 2023, down from 571 in Q4 2022.
  • Funds reported $11.6B of Brown & Brown stock for Q1 2023, up 2.7% quarter-over-quarter.
  • 53 funds opened new Brown & Brown positions in Q1 2023 and 48 closed out, a net change of +5 holders.
  • The largest Brown & Brown buyer in Q1 2023 was Ceredex Value Advisors, an estimated $42.1M added.
  • The largest Brown & Brown seller in Q1 2023 was Balyasny Asset Management, an estimated $62.5M sold.

Based on aggregated 13F filings for Q1 2023.