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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
SG Americas Securities
201
SG Americas Securities
New York
$5.21M +$2.79M +34,683 +139%
Balyasny Asset Management
202
Balyasny Asset Management
Illinois
$5.18M +$3.69M +45,923 +345%
MIM
203
MetLife Investment Management
New Jersey
$5.18M -$162K -2,019 -3%
PNC
204
Park National Corp
Ohio
$5.15M -$32.2K -400 -0.7%
PFM
205
Patton Fund Management
Texas
$5.13M -$671K -8,352 -12%
TBA
206
Tower Bridge Advisors
Pennsylvania
$5.08M -$6.72M -83,614 -59%
Susquehanna International Group
207
Susquehanna International Group
Pennsylvania
$5.05M -$584K -7,267 -11%
LIM
208
Leavell Investment Management
Alabama
$5.01M – – –
Mariner
209
Mariner
Kansas
$4.84M -$14.3K -178 -0.3%
TC
210
TownSquare Capital
Utah
$4.79M +$443K +5,516 +11%
HighTower Advisors
211
HighTower Advisors
Illinois
$4.78M +$840K +10,450 +24%
II
212
IFM Investors
Australia
$4.75M – – –
Retirement Systems of Alabama
213
Retirement Systems of Alabama
Alabama
$4.56M +$6.19K +77 +0.1%
National Bank of Canada
214
National Bank of Canada
Quebec, Canada
$4.54M -$1.03M -12,806 -20%
COPPSERS
215
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$4.54M +$10.4K +129 +0.2%
Franklin Resources
216
Franklin Resources
California
$4.49M +$2.23M +27,696 +117%
Skandinaviska Enskilda Banken (SEB)
217
Skandinaviska Enskilda Banken (SEB)
Sweden
$4.42M +$413K +5,139 +11%
GLA
218
Great Lakes Advisors
Illinois
$4.38M +$5.63K +70 +0.1%
AB
219
Amalgamated Bank
New York
$4.36M -$1.22M -15,184 -23%
TPSF
220
Texas Permanent School Fund
Texas
$4.27M +$4.58K +57 +0.1%
Pacer Advisors
221
Pacer Advisors
Pennsylvania
$4.25M +$2.63M +32,775 +208%
Handelsbanken Fonder
222
Handelsbanken Fonder
Sweden
$4.17M – – –
IAA
223
Independent Advisor Alliance
North Carolina
$4.06M -$10.6K -132 -0.3%
CFM
224
Coronation Fund Managers
South Africa
$4.03M +$123K +1,526 +3%
RJFSA
225
Raymond James Financial Services Advisors
Florida
$4.01M +$776K +9,653 +27%
7 8
9
10 11

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.