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Brown & Brown
BRO

231 hedge funds and large institutions have $3.29B invested in Brown & Brown in 2014 Q3 according to their latest regulatory filings, with 28 funds opening new positions, 78 increasing their positions, 88 reducing their positions, and 25 closing their positions.

New
Increased
Maintained
Reduced
Closed

12% more first-time investments, than exits

New positions opened: 28 | Existing positions closed: 25

7% more capital invested

Capital invested by funds: $3.07B → $3.29B (+$215M)

3.42% more ownership

Funds ownership: 137.98% → 141.4% (+3.4%)

0% more funds holding

Funds holding: 231 → 231 (0)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

11% less repeat investments, than reductions

Existing positions increased: 78 | Existing positions reduced: 88

Holders
231
Holders Change
–
Holders Change %
0%
% of All Funds
6.7%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.06%
New
28
Increased
78
Reduced
88
Closed
25
Calls
$180K
Puts
–
Net Calls
+$180K
Net Calls Change
+$108K

Top Buyers

1
MA
Marshfield Associates
District of Columbia
+$51.7M
2
First Eagle Investment Management
First Eagle Investment Management
New York
+$46.9M
3
Victory Capital Management
Victory Capital Management
Texas
+$38.1M
4
Fidelity Investments
Fidelity Investments
Massachusetts
+$30M
5
Invesco
Invesco
Georgia
+$24.4M

Top Sellers

1
VFA
Virtus Fund Advisers
Connecticut
-$36.4M
2
Citadel Advisors
Citadel Advisors
Florida
-$34.1M
3
Norges Bank
Norges Bank
Norway
-$28.4M
4
ClearBridge Investments
ClearBridge Investments
New York
-$27.4M
5
ESCM
Echo Street Capital Management
New York
-$21.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$264M +$2.56M +161,866 +1%
State Street
2
State Street
Massachusetts
$209M +$4.03M +254,688 +2%
Principal Financial Group
3
Principal Financial Group
Iowa
$169M +$4.44M +280,738 +3%
Diamond Hill Capital Management
4
Diamond Hill Capital Management
Ohio
$138M +$13.5M +854,278 +11%
Fidelity Investments
5
Fidelity Investments
Massachusetts
$116M +$30M +1,893,740 +35%
BIT
6
BlackRock Institutional Trust
California
$111M -$3.49M -220,150 -3%
BFA
7
BlackRock Fund Advisors
California
$110M +$3.06M +193,378 +3%
First Eagle Investment Management
8
First Eagle Investment Management
New York
$107M +$46.9M +2,965,210 +80%
FPP
9
Findlay Park Partners
United Kingdom
$94.6M -$651K -41,142 -0.7%
Wells Fargo
10
Wells Fargo
California
$93.1M +$4.68M +295,548 +5%
RCG
11
Ruane, Cunniff & Goldfarb
New York
$85.1M -$922K -58,254 -1%
AGA
12
Altrinsic Global Advisors
Connecticut
$84.9M -$1.11M -70,064 -1%
Ameriprise
13
Ameriprise
Minnesota
$79.5M -$451K -28,506 -0.6%
Kayne Anderson Rudnick Investment Management
14
Kayne Anderson Rudnick Investment Management
California
$78.3M -$2.35M -148,406 -3%
FAM
15
Fenimore Asset Management
New York
$67.7M -$147K -9,280 -0.2%
MIH
16
Madison Investment Holdings
Wisconsin
$64.2M +$20.9M +1,317,176 +49%
CWAM
17
Columbia Wanger Asset Management
Illinois
$59.1M – – –
American Century Companies
18
American Century Companies
Missouri
$56.4M +$881K +55,634 +2%
Mackenzie Financial
19
Mackenzie Financial
Ontario, Canada
$54.6M -$2.82M -178,200 -5%
Schroder Investment Management Group
20
Schroder Investment Management Group
United Kingdom
$52.9M -$1.02M -64,200 -2%
MA
21
Marshfield Associates
District of Columbia
$52.5M +$51.7M +3,268,358 New
BAM
22
Burgundy Asset Management
Ontario, Canada
$52.1M -$1.2M -75,960 -2%
VBA
23
Van Berkom & Associates
Quebec, Canada
$50.6M +$4.44M +280,684 +10%
Citadel Advisors
24
Citadel Advisors
Florida
$49.2M -$34.1M -2,152,246 -41%
Bank of New York Mellon
25
Bank of New York Mellon
New York
$41.5M -$761K -48,074 -2%
1
2 3 4 5

BRO Hedge Fund Activity: Q3 2014 in Review

231 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in Brown & Brown (BRO) for Q3 2014, worth a combined $3.29B — up 7% from $3.07B a quarter earlier.

Buyers outnumbered sellers: 28 funds opened new BRO positions and 25 closed out — a net gain of 3 holders — while 78 added to existing stakes and 88 trimmed.

The largest buyer was Marshfield Associates, opening a new position worth an estimated $51.7M. The largest seller was Virtus Fund Advisers, cutting an estimated $36.4M.

  • 231 institutional investors held Brown & Brown (BRO) as of Q3 2014, unchanged from Q2 2014.
  • Funds reported $3.29B of Brown & Brown stock for Q3 2014, up 7% quarter-over-quarter.
  • 28 funds opened new Brown & Brown positions in Q3 2014 and 25 closed out, a net change of +3 holders.
  • The largest Brown & Brown buyer in Q3 2014 was Marshfield Associates, an estimated $51.7M added.
  • The largest Brown & Brown seller in Q3 2014 was Virtus Fund Advisers, an estimated $36.4M sold.

Based on aggregated 13F filings for Q3 2014.