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-Q2 13F filings (latest filed 2026-09-22). 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
150 tracked funds added or opened BRO while 236 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
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, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% 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 2026-Q1 and 2026-Q2, across 758 tracked filers holding BRO, 413 increased or opened the position and 439 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
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 2026-Q1 and 2026-Q2 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 39
- Orbis Allan Gray Ltd$345M
- CAPITOLIS LIQUID GLOBAL MARKETS LLC$32M
- ABSHER WEALTH MANAGEMENT, LLC$27M
- Lighthouse Investment Partners, LLC$15M
- Weiss Asset Management LP$11M
- NewEdge Advisors, LLC$8M
Full exits 80
- NATIXIS ADVISORS, LLC$115M
- Verition Fund Management LLC$71M
- Amundi$39M
- OSTERWEIS CAPITAL MANAGEMENT INC$26M
- SG Americas Securities, LLC$22M
- DekaBank Deutsche Girozentrale$17M
Largest adds
- BlackRock, Inc.$278M
- First Eagle Investment Management, LLC$177M
- FMR LLC$135M
- GOLDMAN SACHS GROUP INC$85M
- AQR CAPITAL MANAGEMENT LLC$57M
- TWO SIGMA INVESTMENTS, LP$52M
Largest trims
- Select Equity Group, L.P.$209M
- BARCLAYS PLC$191M
- Allspring Global Investments Holdings, LLC$163M
- Capital World Investors$148M
- Capital International Investors$119M
- NORGES BANK$103M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 22,113,344 | $1.4B | 8.6% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 18,941,212 | $1.2B | 7.4% | 2026-Q2 |
| FMR LLC added | 18,405,749 | $1.2B | 7.2% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 15,721,830 | $1.0B | 6.1% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 14,631,444 | $939M | 5.7% | 2026-Q2 |
| STATE STREET CORP added | 14,514,119 | $931M | 5.7% | 2026-Q2 |
| Capital World Investors trimmed | 14,465,915 | $928M | 5.6% | 2026-Q2 |
| First Eagle Investment Management, LLC added | 11,727,514 | $752M | 4.6% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 8,230,737 | $526M | 3.2% | 2026-Q2 |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. added | 6,709,042 | $430M | 2.6% | 2026-Q2 |
| Orbis Allan Gray Ltd new | 5,371,080 | $345M | 2.1% | 2026-Q2 |
| Select Equity Group, L.P. trimmed | 4,892,500 | $314M | 1.9% | 2026-Q2 |
| NORGES BANK added | 4,396,401 | $282M | 1.7% | 2026-Q2 |
| DEUTSCHE BANK AG\ trimmed | 4,161,199 | $267M | 1.6% | 2026-Q2 |
| Invesco Ltd. added | 4,098,277 | $263M | 1.6% | 2026-Q2 |
| Capital Research Global Investors added | 3,913,022 | $251M | 1.5% | 2026-Q2 |
| MORGAN STANLEY added | 3,869,724 | $248M | 1.5% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 3,637,032 | $233M | 1.4% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 3,554,971 | $228M | 1.4% | 2026-Q2 |
| ROYAL BANK OF CANADA trimmed | 3,471,860 | $223M | 1.4% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 3,097,240 | $198M | 1.2% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 2,641,788 | $169M | 1.0% | 2026-Q2 |
| NORTHERN TRUST CORP added | 2,469,722 | $158M | 1.0% | 2026-Q2 |
| ProShare Advisors LLC added | 2,406,478 | $154M | 0.9% | 2026-Q2 |
| Fenimore Asset Management Inc added | 2,243,843 | $144M | 0.9% | 2026-Q2 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ added | 2,169,415 | $139M | 0.8% | 2026-Q2 |
| Madison Asset Management, LLC trimmed | 2,161,022 | $139M | 0.8% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 1,993,822 | $128M | 0.8% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,898,071 | $122M | 0.7% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 1,795,003 | $115M | 0.7% | 2026-Q2 |
| Gobi Capital LLC added | 1,780,046 | $114M | 0.7% | 2026-Q2 |
| Polar Capital Holdings Plc added | 1,725,000 | $111M | 0.7% | 2026-Q2 |
| UBS Group AG trimmed | 1,691,851 | $109M | 0.7% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 1,660,686 | $107M | 0.6% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO trimmed | 1,634,644 | $105M | 0.6% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 1,487,718 | $95M | 0.6% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 1,380,970 | $89M | 0.5% | 2026-Q2 |
| Gotham Asset Management, LLC added | 1,218,762 | $78M | 0.5% | 2026-Q2 |
| Legal & General Group Plc trimmed | 1,077,023 | $69M | 0.4% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 963,777 | $61M | 0.4% | 2026-Q2 |
| STOREBRAND ASSET MANAGEMENT AS trimmed | 936,445 | $60M | 0.4% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 904,200 | $58M | 0.4% | 2026-Q2 |
| Quantum Capital Management, LLC / NJ added | 903,253 | $58M | 0.4% | 2026-Q2 |
| Tandem Investment Advisors, Inc. trimmed | 889,649 | $57M | 0.3% | 2026-Q2 |
| CITIGROUP INC added | 861,844 | $55M | 0.3% | 2026-Q2 |
| BARR E S & CO trimmed | 817,719 | $52M | 0.3% | 2026-Q2 |
| Swiss National Bank trimmed | 814,000 | $52M | 0.3% | 2026-Q2 |
| Capital International Investors trimmed | 802,328 | $51M | 0.3% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 788,856 | $51M | 0.3% | 2026-Q2 |
| BARCLAYS PLC trimmed | 770,928 | $49M | 0.3% | 2026-Q2 |
| Mitsubishi UFJ Asset Management Co., Ltd. added | 760,695 | $49M | 0.3% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 756,859 | $49M | 0.3% | 2026-Q2 |
| Giverny Capital Inc. trimmed | 753,288 | $48M | 0.3% | 2026-Q2 |
| Sumitomo Mitsui Trust Group, Inc. added | 728,866 | $47M | 0.3% | 2026-Q2 |
| Vest Financial, LLC added | 704,257 | $45M | 0.3% | 2026-Q2 |
| NORDEA INVESTMENT MANAGEMENT AB trimmed | 677,450 | $43M | 0.3% | 2026-Q2 |
| ROYAL LONDON ASSET MANAGEMENT LTD trimmed | 676,282 | $43M | 0.3% | 2026-Q2 |
| CITADEL ADVISORS LLC trimmed | 675,291 | $43M | 0.3% | 2026-Q2 |
| SCHWARTZ INVESTMENT COUNSEL INC added | 658,650 | $42M | 0.3% | 2026-Q2 |
| HSBC HOLDINGS PLC added | 652,326 | $42M | 0.3% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. trimmed | 647,583 | $42M | 0.3% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT CO LTD added | 643,619 | $41M | 0.3% | 2026-Q2 |
| Vanguard Global Advisers, LLC trimmed | 636,823 | $41M | 0.2% | 2026-Q2 |
| Dundas Partners LLP trimmed | 610,267 | $39M | 0.2% | 2026-Q2 |
| Nuveen, LLC trimmed | 583,205 | $37M | 0.2% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 574,214 | $37M | 0.2% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 571,991 | $37M | 0.2% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 543,172 | $35M | 0.2% | 2026-Q2 |
| SNYDER CAPITAL MANAGEMENT L P trimmed | 531,747 | $34M | 0.2% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 519,257 | $33M | 0.2% | 2026-Q2 |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC new | 503,318 | $32M | 0.2% | 2026-Q2 |
| BROWN BROTHERS HARRIMAN & CO trimmed | 484,058 | $31M | 0.2% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 481,268 | $31M | 0.2% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 464,414 | $30M | 0.2% | 2026-Q2 |
| EULAV Asset Management | 444,900 | $29M | 0.2% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 422,898 | $27M | 0.2% | 2026-Q2 |
| ABSHER WEALTH MANAGEMENT, LLC new | 418,399 | $27M | 0.2% | 2026-Q2 |
| CAPTRUST FINANCIAL ADVISORS trimmed | 416,244 | $27M | 0.2% | 2026-Q2 |
| Clarkston Capital Partners, LLC trimmed | 395,886 | $25M | 0.2% | 2026-Q2 |
| KEYBANK NATIONAL ASSOCIATION/OH added | 386,186 | $25M | 0.2% | 2026-Q2 |
| CONFLUENCE INVESTMENT MANAGEMENT LLC trimmed | 386,030 | $25M | 0.2% | 2026-Q2 |
| PhiloSmith Capital Corp added | 376,250 | $24M | 0.1% | 2026-Q2 |
| STIFEL FINANCIAL CORP added | 374,725 | $24M | 0.1% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 364,827 | $23M | 0.1% | 2026-Q2 |
| TimesSquare Capital Management, LLC trimmed | 347,624 | $22M | 0.1% | 2026-Q2 |
| Cresset Asset Management, LLC added | 346,609 | $22M | 0.1% | 2026-Q2 |
| FULLER & THALER ASSET MANAGEMENT, INC. added | 345,739 | $22M | 0.1% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 336,895 | $22M | 0.1% | 2026-Q2 |
| Creative Planning added | 327,626 | $21M | 0.1% | 2026-Q2 |
| Local Pensions Partnership Investment Ltd trimmed | 326,000 | $21M | 0.1% | 2026-Q2 |
| Woodline Partners LP added | 319,138 | $20M | 0.1% | 2026-Q2 |
| APG Asset Management N.V. added | 313,231 | $18M | 0.1% | 2026-Q2 |
| Artisan Partners Limited Partnership trimmed | 305,217 | $20M | 0.1% | 2026-Q2 |
| Champlain Investment Partners, LLC trimmed | 295,680 | $19M | 0.1% | 2026-Q2 |
| Mitsubishi UFJ Trust & Banking Corp trimmed | 292,906 | $19M | 0.1% | 2026-Q2 |
| Assenagon Asset Management S.A. added | 289,013 | $19M | 0.1% | 2026-Q2 |
| State of Tennessee, Department of Treasury added | 288,259 | $18M | 0.1% | 2026-Q2 |
| EXCHANGE TRADED CONCEPTS, LLC added | 284,328 | $18M | 0.1% | 2026-Q2 |
| BANK OF MONTREAL /CAN/ trimmed | 264,943 | $17M | 0.1% | 2026-Q2 |
| Distillate Capital Partners LLC added | 251,655 | $16M | 0.1% | 2026-Q2 |
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.