Who owns Brown & Brown (BRO)
Which tracked institutional funds hold BRO, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See BRO company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on BRO is one-sided between 2025-Q4 and 2026-Q1: 103 added or opened and 360 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
BRO’s largest tracked holder by dollar value, VANGUARD GROUP INC, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.0pp gap the other way — the median holder sizes BRO more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in BRO divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 808 tracked filers holding BRO, 402 increased or opened the position and 477 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in BRO between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 42
- VANGUARD CAPITAL MANAGEMENT LLC$1.2B
- VANGUARD PORTFOLIO MANAGEMENT LLC$951M
- First Eagle Investment Management, LLC$575M
- Capital Research Global Investors$254M
- VANGUARD FIDUCIARY TRUST CO$107M
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/$100M
Full exits 63
- VANGUARD GROUP INC$3.0B
- Prana Capital Management, LP$48M
- CONGRESS ASSET MANAGEMENT CO$46M
- WORLDQUANT MILLENNIUM ADVISORS LLC$22M
- Port Capital LLC$21M
- SEVEN GRAND MANAGERS, LLC$15M
Largest adds
- FMR LLC$206M
- JONES FINANCIAL COMPANIES LLLP$102M
- CITADEL ADVISORS LLC$55M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$53M
- BANK OF AMERICA CORP /DE/$37M
- BARR E S & CO$25M
Largest trims
- BlackRock, Inc.$595M
- PARNASSUS INVESTMENTS, LLC$490M
- Capital World Investors$350M
- Select Equity Group, L.P.$229M
- PRINCIPAL FINANCIAL GROUP INC$207M
- Capital International Investors$201M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 22,113,344 | $1.4B | 7.0% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 18,921,240 | $1.2B | 6.1% | 2026-Q1 |
| FMR LLC added | 18,405,749 | $1.2B | 5.8% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 15,608,720 | $1.0B | 5.0% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 14,586,476 | $951M | 4.7% | 2026-Q1 |
| STATE STREET CORP added | 14,514,119 | $931M | 4.6% | 2026-Q2 |
| Capital World Investors trimmed | 14,465,915 | $928M | 4.6% | 2026-Q2 |
| First Eagle Investment Management, LLC added | 11,727,514 | $752M | 3.7% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 8,138,153 | $529M | 2.6% | 2026-Q1 |
| Select Equity Group, L.P. trimmed | 8,022,123 | $523M | 2.6% | 2026-Q1 |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. added | 5,871,215 | $383M | 1.9% | 2026-Q1 |
| NORGES BANK added | 4,396,401 | $282M | 1.4% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 4,202,034 | $274M | 1.4% | 2026-Q1 |
| Invesco Ltd. added | 4,098,277 | $263M | 1.3% | 2026-Q2 |
| Capital Research Global Investors added | 3,913,022 | $251M | 1.2% | 2026-Q2 |
| BARCLAYS PLC added | 3,679,770 | $240M | 1.2% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 3,623,179 | $236M | 1.2% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 3,569,784 | $233M | 1.1% | 2026-Q1 |
| MORGAN STANLEY trimmed | 3,244,972 | $212M | 1.0% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 3,137,024 | $205M | 1.0% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 2,998,461 | $196M | 1.0% | 2026-Q1 |
| Allspring Global Investments Holdings, LLC trimmed | 2,544,886 | $164M | 0.8% | 2026-Q1 |
| NORTHERN TRUST CORP trimmed | 2,448,762 | $160M | 0.8% | 2026-Q1 |
| Madison Asset Management, LLC added | 2,307,622 | $150M | 0.7% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 2,280,602 | $149M | 0.7% | 2026-Q1 |
| Fenimore Asset Management Inc added | 2,223,136 | $145M | 0.7% | 2026-Q1 |
| ProShare Advisors LLC added | 2,187,864 | $143M | 0.7% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 1,993,822 | $128M | 0.6% | 2026-Q2 |
| UBS Group AG trimmed | 1,855,365 | $121M | 0.6% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,827,462 | $119M | 0.6% | 2026-Q1 |
| NATIXIS ADVISORS, LLC added | 1,769,749 | $115M | 0.6% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 1,710,837 | $112M | 0.6% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 1,708,136 | $108M | 0.5% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 1,646,933 | $107M | 0.5% | 2026-Q1 |
| Gobi Capital LLC added | 1,621,046 | $106M | 0.5% | 2026-Q1 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ new | 1,537,185 | $100M | 0.5% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 1,513,122 | $99M | 0.5% | 2026-Q1 |
| Polar Capital Holdings Plc added | 1,440,000 | $94M | 0.5% | 2026-Q1 |
| Bank of New York Mellon Corp added | 1,391,069 | $91M | 0.4% | 2026-Q1 |
| Tandem Investment Advisors, Inc. trimmed | 1,185,144 | $77M | 0.4% | 2026-Q1 |
| Rathbones Group PLC added | 1,154,219 | $75M | 0.4% | 2026-Q1 |
| Legal & General Group Plc trimmed | 1,111,830 | $73M | 0.4% | 2026-Q1 |
| Verition Fund Management LLC added | 1,087,074 | $71M | 0.3% | 2026-Q1 |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC trimmed | 1,029,338 | $67M | 0.3% | 2026-Q1 |
| Champlain Investment Partners, LLC trimmed | 968,274 | $63M | 0.3% | 2026-Q1 |
| STOREBRAND ASSET MANAGEMENT AS added | 945,700 | $62M | 0.3% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC added | 963,777 | $61M | 0.3% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 904,200 | $58M | 0.3% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 873,340 | $57M | 0.3% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 855,778 | $56M | 0.3% | 2026-Q1 |
| Swiss National Bank added | 851,700 | $56M | 0.3% | 2026-Q1 |
| BARR E S & CO added | 819,847 | $53M | 0.3% | 2026-Q1 |
| Capital International Investors trimmed | 802,328 | $51M | 0.3% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND trimmed | 768,395 | $50M | 0.2% | 2026-Q1 |
| Giverny Capital Inc. trimmed | 755,269 | $49M | 0.2% | 2026-Q1 |
| CITIGROUP INC added | 740,531 | $48M | 0.2% | 2026-Q1 |
| Sumitomo Mitsui Trust Group, Inc. trimmed | 710,890 | $46M | 0.2% | 2026-Q1 |
| Mitsubishi UFJ Asset Management Co., Ltd. added | 710,734 | $46M | 0.2% | 2026-Q1 |
| NORDEA INVESTMENT MANAGEMENT AB trimmed | 717,365 | $46M | 0.2% | 2026-Q1 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. trimmed | 706,249 | $46M | 0.2% | 2026-Q1 |
| ROYAL LONDON ASSET MANAGEMENT LTD added | 698,522 | $46M | 0.2% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 675,291 | $43M | 0.2% | 2026-Q2 |
| BROWN BROTHERS HARRIMAN & CO trimmed | 663,762 | $43M | 0.2% | 2026-Q1 |
| Vest Financial, LLC added | 663,305 | $43M | 0.2% | 2026-Q1 |
| Dundas Partners LLP trimmed | 659,990 | $43M | 0.2% | 2026-Q1 |
| Quantum Capital Management, LLC / NJ trimmed | 641,613 | $42M | 0.2% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 640,186 | $42M | 0.2% | 2026-Q1 |
| Nuveen, LLC added | 607,781 | $40M | 0.2% | 2026-Q1 |
| Amundi added | 592,073 | $39M | 0.2% | 2026-Q1 |
| NOMURA ASSET MANAGEMENT CO LTD added | 583,979 | $38M | 0.2% | 2026-Q1 |
| HSBC HOLDINGS PLC trimmed | 576,256 | $38M | 0.2% | 2026-Q1 |
| PFA Pension, Forsikringsaktieselskab trimmed | 575,878 | $38M | 0.2% | 2026-Q1 |
| RHUMBLINE ADVISERS added | 573,973 | $37M | 0.2% | 2026-Q1 |
| SCHWARTZ INVESTMENT COUNSEL INC | 555,400 | $36M | 0.2% | 2026-Q1 |
| SNYDER CAPITAL MANAGEMENT L P trimmed | 547,703 | $36M | 0.2% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 543,172 | $35M | 0.2% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 521,540 | $34M | 0.2% | 2026-Q1 |
| California Public Employees Retirement System trimmed | 513,153 | $33M | 0.2% | 2026-Q1 |
| Gotham Asset Management, LLC added | 510,021 | $33M | 0.2% | 2026-Q1 |
| Artisan Partners Limited Partnership new | 506,724 | $33M | 0.2% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 506,473 | $33M | 0.2% | 2026-Q1 |
| National Pension Service trimmed | 502,594 | $33M | 0.2% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 498,045 | $32M | 0.2% | 2026-Q1 |
| Korea Investment CORP added | 463,838 | $30M | 0.1% | 2026-Q1 |
| EULAV Asset Management | 444,900 | $29M | 0.1% | 2026-Q1 |
| CAPTRUST FINANCIAL ADVISORS trimmed | 442,729 | $29M | 0.1% | 2026-Q1 |
| Mitsubishi UFJ Trust & Banking Corp added | 438,147 | $29M | 0.1% | 2026-Q1 |
| Clarkston Capital Partners, LLC trimmed | 414,861 | $27M | 0.1% | 2026-Q1 |
| Local Pensions Partnership Investment Ltd | 406,000 | $26M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC added | 37,634,847 | $3.0B | 14.8% | 2025-Q4 stale |
| Freestone Grove Partners LP added | 1,144,514 | $127M | 0.6% | 2025-Q2 stale |
| ADAGE CAPITAL PARTNERS GP, L.L.C. added | 676,700 | $75M | 0.4% | 2025-Q2 stale |
| Burkehill Global Management, LP | 750,000 | $70M | 0.3% | 2025-Q3 stale |
| Gillson Capital LP new | 456,930 | $51M | 0.3% | 2025-Q2 stale |
| Prana Capital Management, LP trimmed | 596,403 | $48M | 0.2% | 2025-Q4 stale |
| CONGRESS ASSET MANAGEMENT CO trimmed | 580,610 | $46M | 0.2% | 2025-Q4 stale |
| COOKSON PEIRCE & CO INC trimmed | 391,711 | $43M | 0.2% | 2025-Q2 stale |
| Blackstone Inc. new | 350,000 | $39M | 0.2% | 2025-Q2 stale |
| Fortress Investment Group LLC new | 240,000 | $27M | 0.1% | 2025-Q2 stale |
| Susquehanna Portfolio Strategies, LLC new | 281,531 | $26M | 0.1% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.