Ranked by reported Q1 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. | 21.9M | $1.43B | +0.7% | 6.438% | 0.03% |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 18.9M | $1.23B | — | 5.558% | 0.03% |
| 3 | Capital World Investors | 16.5M | $1.08B | -7.8% | 4.845% | 0.15% |
| 4 | FMR LLC | 16.1M | $1.05B | +52.3% | 4.715% | 0.06% |
| 5 | PRINCIPAL FINANCIAL GROUP INC | 15.6M | $1.02B | +1.6% | 4.585% | 0.54% |
| 6 | VANGUARD PORTFOLIO MANAGEMENT LLC | 14.6M | $951.2M | — | 4.285% | 0.05% |
| 7 | STATE STREET CORP | 13.8M | $898.4M | +2.8% | 4.047% | 0.03% |
| 8 | First Eagle Investment Management, LLC | 8.8M | $575.4M | — | 2.592% | 0.76% |
| 9 | GEODE CAPITAL MANAGEMENT, LLC | 8.1M | $528.8M | +2.3% | 2.391% | 0.03% |
| 10 | Select Equity Group, L.P. | 8.0M | $523.1M | -15.0% | 2.357% | 2.87% |
| 11 | KEMPEN CAPITAL MANAGEMENT N.V. | 5.9M | $382.9M | +29.4% | 1.725% | 3.36% |
| 12 | DEUTSCHE BANK AG\ | 4.2M | $274.0M | +6.9% | 1.234% | 0.09% |
| 13 | Capital Research Global Investors | 3.9M | $253.8M | — | 1.143% | 0.04% |
| 14 | BARCLAYS PLC | 3.7M | $240.0M | +8.3% | 1.081% | 0.10% |
| 15 | BANK OF AMERICA CORP /DE/ | 3.6M | $236.3M | +45.2% | 1.064% | 0.02% |
| 16 | ROYAL BANK OF CANADA | 3.6M | $232.8M | +5.1% | 1.049% | 0.04% |
| 17 | Invesco Ltd. | 3.5M | $227.0M | +21.8% | 1.023% | 0.03% |
| 18 | MORGAN STANLEY | 3.2M | $211.6M | -29.8% | 0.953% | 0.01% |
| 19 | WELLS FARGO & COMPANY/MN | 3.0M | $195.5M | -0.4% | 0.881% | 0.04% |
| 20 | Capital International Investors | 2.6M | $170.2M | -44.0% | 0.767% | 0.04% |
| 21 | Allspring Global Investments Holdings, LLC | 2.5M | $163.9M | -9.2% | 0.748% | 0.27% |
| 22 | NORTHERN TRUST CORP | 2.4M | $159.7M | -0.3% | 0.719% | 0.02% |
| 23 | Madison Asset Management, LLC | 2.3M | $150.5M | +16.1% | 0.678% | 1.87% |
| 24 | GOLDMAN SACHS GROUP INC | 2.3M | $148.7M | +4.5% | 0.670% | 0.02% |
| 25 | FENIMORE ASSET MANAGEMENT INC | 2.2M | $145.0M | +1.8% | 0.653% | 3.23% |
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 Q1 2026, grouped by how each filer changed its position.
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 |
|---|---|---|---|---|---|---|
| Q1 2026 | 796 | 7.9% | 86.57% | 17.71 pp | $17.68B | 17% |
| Q4 2025 | 864 | 0.8% | 104.28% | 12.25 pp | $21.30B | 11% |
| Q3 2025 | 871 | 4.2% | 116.53% | 34.34 pp | $23.80B | 23% |
| Q2 2025 | 909 | +3.4% | 150.87% | +25.46 pp | $30.81B | +20% |
| Q1 2025 | 879 | +4.5% | 125.41% | +24.56 pp | $25.61B | +24% |
| Q4 2024 | 841 | +5.9% | 100.85% | +2.82 pp | $20.59B | +2.9% |
| Q3 2024 | 794 | +8.0% | 98.03% | 86.09 pp | $20.02B | 47% |
| Q2 2024 | 735 | — | 184.12% | — | $37.60B | — |
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 Q1 2026 13F filings, institutional ownership of Brown & Brown, Inc. stands at 86.6%, held across 796 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of BRO, with approximately 21,916,747 shares worth $1.43B as of Q1 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 15 out of 100 (Heavy Distribution). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
106 institutions opened new positions in BRO during Q1 2026, while 174 fully exited. 138 added to existing positions and 549 trimmed.
BRO institutional ownership fell by 17.71 percentage points quarter-over-quarter, with a net change of -68 holders.
The top 10 institutions account for 52.5% of all reported 13F value in BRO, and the top 25 account for 70.5%.
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