Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Brown & Brown Inc (BRO)

801 + Investors. Track Smart Money conviction in BRO. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -64
Streak
3Q ▼
Buyers last Q
47%

Smart Money Signals — BRO

Based on 809 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds reduced or closed their BRO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 89% of 3.0Y peak

89% of all-time peak
809 funds currently hold this stock — 89% of the 3.0-year high of 909 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 8% fewer funds vs a year ago

fund count last 6Q
71 fewer hedge funds hold BRO compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 47% buying

413 buying466 selling
Last quarter: 466 funds reduced or exited vs 413 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-30 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 140 → 111 → 135 → 105. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 22% medium ■ 18% new
489 out of 809 hedge funds have held BRO for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +1%, value -19%

Value
-18%
Shares
+1%
Last quarter: funds added +1% more shares while total portfolio value only changed -19%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~105 new funds/quarter

136 → 140 → 111 → 135 → 105 new funds/Q
New funds entering each quarter: 140 → 111 → 135 → 105. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 63% veterans vs 24% newcomers

■ 63% veterans ■ 13% 1-2yr ■ 24% new
Entry-cohort mix of 818 holders: 518 (63%) are 2+ year veterans, 105 entered 1–2 years ago, and 195 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 49% AUM from top-100 funds

49% from top-100 AUM funds
64 of 808 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in BRO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.0
out of 10
Low Exit Risk
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — BRO

In 2026 Q1, 413 hedge funds were net buyers of BRO (105 opened a new position, 308 added to an existing one), while 466 reduced or exited (297 trimmed, 169 sold completely) — a 47% buyer ratio, indicating roughly balanced activity. This extends a 3-quarter selling streak, suggesting sustained institutional caution. 49% of total institutional value in BRO is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -64 funds (more exits than new entries). Total institutional holders: 809.

Hedge Fund Ownership: BRO

How many hedge funds hold BRO — quarterly history vs. share price
Quarterly hedge fund ownership of BRO vs. share price

Market Analysis: BRO

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BRO

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Brown & Brown Inc (BRO) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much BRO has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 77d ago
BRO
-8.4%
XLF
+1220.3%

BRO outperformed XLF by -1228.7% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 32d ago
BRO
+6.1%
XLF
+4.8%

Since the filing became public, BRO outperformed XLF by +1.3% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

44 top-rated funds 5 high-conviction
Consensus
7.2
/ 10
breadth
×
Elite
4.1
/ 10
conviction
Hedge Fund Positioning: BRO
801 + Investors

Track Smart Money conviction in BRO. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 801 873 -8.25%
13F Shares 275M 273M 0.97%
Total Value $17.62B $21.64B -18.59%
New Positions 101 135 -34
Increased Positions 305 288 +17
Closed Positions 173 139 +34
Reduced Positions 294 341 -47
Total Calls 6 4 50.0%
Total Puts 4 3 33.33%
PUT/CALL Ratio 0.67 0.75 Bullish

Statistics: BRO

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Profit Margin --
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Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

801 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BRO. Verified SEC 13F-HR filings.

QUARTER:
Top 25 BRO holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Courant Investment Management LLC 7.41% 116,397 $7.6M
2 PhiloSmith Capital Corp 6.46% 347,450 $22.7M
3 Jackson Hill Advisors, LLC 6.27% 186,000 $12.1M
4 Gobi Capital LLC 5.88% 1,621,046 $105.7M
5 Triad Investment Management 5.49% 213,773 $14.9M
6 Quantum Capital Management, LLC / NJ 5.35% 641,613 $41.8M
7 Tandem Investment Advisors, Inc. 3.79% 1,185,144 $77.3M
8 Cortland Associates Inc/Mo 3.67% 392,479 $25.6M
9 Dundas Partners LLP 3.43% 659,990 $43.0M
10 Van Lanschot Kempen Investment Management N.V. 3.36% 5,871,215 $382.9M
11 Spring Capital Management, LLC 3.34% 101,227 $6.6M
12 Lrz Capital LLC 3.30% 101,000 $6.6M
13 Fenimore Asset Management Inc 3.23% 2,223,136 $145.0M
14 Barr E S & Co 3.11% 819,847 $53.5M
15 Select Equity Group, L.P. 2.68% 8,022,123 $523.1M
16 Lountzis Asset Management, LLC 2.57% 107,561 $7.0M
17 Redwood Grove Capital, LLC 2.45% 116,400 $7.6M
18 Hi-Line Capital Management, LLC 2.32% 113,242 $7.4M
19 Cooper Investors Pty Ltd 2.16% 81,433 $5.3M
20 Speece Thorson Capital Group Inc 2.14% 144,149 $9.4M
21 Summit Wealth Partners, LLC 2.08% 201,700 $13.2M
22 Clarkston Capital Partners, LLC 2.06% 414,861 $27.1M
23 Madison Asset Management, LLC 1.87% 2,307,622 $150.5M
24 Giverny Capital Inc. 1.80% 755,269 $49.3M
25 Running Oak Capital LLC 1.71% 193,695 $12.6M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Brown & Brown Inc (BRO)

What does the Smart Money Trend signal show for BRO?

Selling streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds reduced or closed their BRO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BRO?

More sellers than buyers — 47% buying: Last quarter: 466 funds reduced or exited vs 413 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for BRO holders?

Elite ownership — 49% AUM from top-100 funds: 64 of 808 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in BRO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held BRO?

60% of holders stayed for 2+ years: 489 out of 809 hedge funds have held BRO for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Brown & Brown Inc (BRO) following the 2026 Q1 hedge fund 13F filings?

As of today, BRO has moved +6.1% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.8% for the XLF sector ETF — an outperformance of +1.3%. Since the quarter end (March 31, 2026), BRO has gained -8.4% vs +1220.3% for XLF. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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