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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
Vanguard Group
1
Vanguard Group
Pennsylvania
$449M +$15.5M +763,476 +4%
First Eagle Investment Management
2
First Eagle Investment Management
New York
$309M +$131K +6,454 +0%
State Street
3
State Street
Massachusetts
$267M -$126K -6,190 -0.1%
Wells Fargo
4
Wells Fargo
California
$235M +$4.19M +205,988 +2%
BFA
5
BlackRock Fund Advisors
California
$201M +$9.15M +450,038 +5%
FPP
6
Findlay Park Partners
United Kingdom
$187M – – –
Fidelity Investments
7
Fidelity Investments
Massachusetts
$185M -$20.9M -1,026,032 -11%
Principal Financial Group
8
Principal Financial Group
Iowa
$174M -$1.24M -60,952 -0.8%
BIT
9
BlackRock Institutional Trust
California
$155M +$1.17M +57,600 +0.8%
T. Rowe Price Associates
10
T. Rowe Price Associates
Maryland
$135M +$6.43M +316,538 +6%
American Century Companies
11
American Century Companies
Missouri
$113M +$183K +9,004 +0.2%
CCP
12
Clarkston Capital Partners
Michigan
$105M -$81.9K -4,030 -0.1%
Diamond Hill Capital Management
13
Diamond Hill Capital Management
Ohio
$101M -$37.2M -1,828,384 -29%
VNIM
14
Vaughan Nelson Investment Management
Texas
$97M -$10.2M -504,200 -10%
FAM
15
Fenimore Asset Management
New York
$78.9M -$354K -17,426 -0.5%
Citadel Advisors
16
Citadel Advisors
Florida
$75.3M +$66.1M +3,250,302 +2,988%
BAM
17
Burgundy Asset Management
Ontario, Canada
$70M +$3.76M +184,788 +6%
Schroder Investment Management Group
18
Schroder Investment Management Group
United Kingdom
$63.6M +$20.4M +1,004,520 +55%
Select Equity Group
19
Select Equity Group
New York
$62.9M +$20.2M +994,828 +55%
Victory Capital Management
20
Victory Capital Management
Texas
$62.6M +$1.85M +91,074 +3%
Bank of New York Mellon
21
Bank of New York Mellon
New York
$56.4M +$1.74M +85,812 +4%
Norges Bank
22
Norges Bank
Norway
$55.5M -$5.16M -254,030 -9%
Invesco
23
Invesco
Georgia
$55.5M -$935 -46 -0%
Dimensional Fund Advisors
24
Dimensional Fund Advisors
Texas
$55.2M -$388K -19,098 -0.8%
Goldman Sachs
25
Goldman Sachs
New York
$50.8M +$10.6M +519,326 +30%
1
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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.