Ranked by reported Q2 2026 13F market value
Share of total reported institutional value in BRO held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 22.1M | $1.42B | +0.9% | 6.609% | 0.02% |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 18.9M | $1.22B | +0.1% | 5.661% | 0.03% |
| 3 | FMR LLC | 18.4M | $1.18B | +14.7% | 5.501% | 0.05% |
| 4 | PRINCIPAL FINANCIAL GROUP INC | 15.7M | $1.01B | +0.7% | 4.699% | 0.50% |
| 5 | VANGUARD PORTFOLIO MANAGEMENT LLC | 14.6M | $938.6M | +0.3% | 4.373% | 0.04% |
| 6 | STATE STREET CORP | 14.5M | $931.1M | +5.3% | 4.338% | 0.01% |
| 7 | Capital World Investors | 14.5M | $928.0M | -12.3% | 4.323% | 0.11% |
| 8 | First Eagle Investment Management, LLC | 11.7M | $752.3M | +32.9% | 3.505% | 0.62% |
| 9 | GEODE CAPITAL MANAGEMENT, LLC | 8.2M | $526.0M | +1.1% | 2.460% | 0.03% |
| 10 | VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. | 6.7M | $430.4M | +14.3% | 2.005% | 3.29% |
| 11 | Orbis Allan Gray Ltd | 5.4M | $344.6M | — | 1.605% | 1.18% |
| 12 | Select Equity Group, L.P. | 4.9M | $313.9M | -39.0% | 1.462% | 1.55% |
| 13 | NORGES BANK | 4.4M | $282.0M | — | 1.314% | 0.03% |
| 14 | DEUTSCHE BANK AG\ | 4.2M | $266.9M | -1.0% | 1.244% | 0.08% |
| 15 | Invesco Ltd. | 4.1M | $262.9M | +17.7% | 1.225% | 0.02% |
| 16 | Capital Research Global Investors | 3.9M | $251.0M | +0.5% | 1.169% | 0.04% |
| 17 | MORGAN STANLEY | 3.9M | $248.2M | +19.3% | 1.157% | 0.01% |
| 18 | GOLDMAN SACHS GROUP INC | 3.6M | $233.3M | +59.5% | 1.087% | 0.02% |
| 19 | BANK OF AMERICA CORP /DE/ | 3.6M | $228.1M | -1.9% | 1.062% | 0.01% |
| 20 | ROYAL BANK OF CANADA | 3.5M | $222.7M | -2.7% | 1.038% | 0.03% |
| 21 | JPMORGAN CHASE & CO | 3.1M | $198.1M | -1.3% | 0.926% | 0.01% |
| 22 | WELLS FARGO & COMPANY/MN | 2.6M | $169.5M | -11.9% | 0.789% | 0.03% |
| 23 | NORTHERN TRUST CORP | 2.5M | $158.4M | +0.9% | 0.738% | 0.02% |
| 24 | ProShare Advisors LLC | 2.4M | $154.4M | +10.0% | 0.719% | 0.22% |
| 25 | FENIMORE ASSET MANAGEMENT INC | 2.2M | $143.9M | +0.9% | 0.671% | 2.98% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in BRO — a direct measure of their conviction.
Filings activity in BRO during Q2 2026, grouped by how each filer changed its position.
Institutions that opened a new BRO position in Q2 2026
Institutions that fully closed their BRO position in Q2 2026
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q2 2026 | 810 | +0.0% | 84.34% | +2.22 pp | $17.79B | 0.5% |
| Q1 2026 | 810 | 6.3% | 82.12% | +2.31 pp | $17.88B | 16% |
| Q4 2025 | 864 | 0.9% | 79.81% | +3.31 pp | $21.30B | 11% |
| Q3 2025 | 872 | 4.1% | 76.50% | 1.55 pp | $23.80B | 23% |
| Q2 2025 | 909 | +3.4% | 78.05% | +4.09 pp | $30.81B | +20% |
| Q1 2025 | 879 | +4.5% | 73.96% | +0.41 pp | $25.61B | +24% |
| Q4 2024 | 841 | +5.9% | 73.55% | +3.06 pp | $20.59B | +2.9% |
| Q3 2024 | 794 | — | 70.49% | — | $20.02B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying BRO stock.
Based on Q2 2026 13F filings, institutional ownership of Brown & Brown, Inc. stands at 84.3%, held across 810 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of BRO, with approximately 22,113,344 shares worth $1.42B as of Q2 2026.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of BRO.
Our composite Smart Money Score for BRO is 46 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
109 institutions opened new positions in BRO during Q2 2026, while 123 fully exited. 279 added to existing positions and 392 trimmed.
BRO institutional ownership rose by 2.22 percentage points quarter-over-quarter, with a net change of +0 holders.
The top 10 institutions account for 52.4% of all reported 13F value in BRO, and the top 25 account for 72.0%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Brown & Brown, Inc. (BRO) Institutional Ownership