Brown & Brown, Inc.
US ˙ NYSE ˙ US1152361010

SecurityBRO / Brown & Brown, Inc.
InstitutionShell Asset Management Co
Latest Disclosed Ownership1,453 shares
Latest Disclosed Value $ 136
Shell Asset Management Co reports 98.49% decrease in ownership of BRO / Brown & Brown, Inc.

On November 7, 2025 - Shell Asset Management Co filed a 13F-HR form disclosing ownership of 1,453 shares of Brown & Brown, Inc. (US:BRO) valued at $136,277 USD as of September 30, 2025. The entity filed a previous 13F-HR on July 23, 2025 disclosing 96,166 shares of Brown & Brown, Inc.. This represents a change in shares of -98.49% during the quarter. The current value of the position is $80,118 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-11-07 2025-09-30 13F BROWN & BROWN COM 115236101 1,453 -94,713 -98.49 0 -100.00 0.0137
2025-07-23 2025-06-30 13F BROWN & BROWN COM 115236101 96,166 -1,272 -1.31 11 -16.67 0.3682
2025-05-14 2025-03-31 13F BROWN & BROWN COM 115236101 97,438 -3,876 -3.83 12 20.00 0.5755
2025-02-14 2024-12-31 13F BROWN & BROWN COM 115236101 101,314 -683 -0.67 10 0.00 0.4516
2024-11-07 2024-09-30 13F BROWN & BROWN COM 115236101 101,997 -2,032 -1.95 11 11.11 0.4651
2024-07-25 2024-03-31 13F BROWN & BROWN COM 115236101 104,029 -3,818 -3.54 9 28.57 0.4235
2024-02-14 2023-12-31 13F BROWN & BROWN COM 115236101 107,847 -19,700 -15.45 8 -12.50 0.3542
2023-11-08 2023-09-30 13F BROWN & BROWN COM 115236101 127,547 125,663 6,670.01 9 0.3681
2023-07-28 2023-06-30 13F BROWN & BROWN COM 115236101 1,884 -2,076 -52.42 0 0.0051
2023-05-15 2023-03-31 13F BROWN & BROWN COM 115236101 3,960 -14 -0.35 0 0.0094
2023-02-07 2022-12-31 13F BROWN & BROWN COM 115236101 3,974 -809 -16.91 0 -100.00 0.0099
2022-11-14 2022-09-30 13F BROWN & BROWN COM 115236101 4,783 -1,257 -20.81 289 -17.90 0.0113
2022-08-09 2022-06-30 13F BROWN & BROWN COM 115236101 6,040 1,322 28.02 352 3.23 0.0104
2022-05-04 2022-03-31 13F BROWN & BROWN COM 115236101 4,718 -698 -12.89 341 -10.50 0.0080
2022-02-09 2021-12-31 13F BROWN & BROWN COM 115236101 5,416 30 0.56 381 27.42 0.0078
2021-11-04 2021-09-30 13F BROWN & BROWN COM 115236101 5,386 -7,351 -57.71 299 -55.83 0.0067
2021-08-12 2021-06-30 13F BROWN & BROWN COM 115236101 12,737 -1,799 -12.38 677 1.96 0.0131
2021-05-10 2021-03-31 13F BROWN & BROWN COM 115236101 14,536 -43,853 -75.10 664 -76.01 0.0133
2021-02-16 2020-12-31 13F BROWN & BROWN COM 115236101 58,389 -4,840 -7.65 2,768 -3.28 0.0572
2020-11-13 2020-09-30 13F BROWN & BROWN COM 115236101 63,229 -11,366 -15.24 2,862 -5.86 0.0665
2020-08-10 2020-06-30 13F BROWN & BROWN COM 115236101 74,595 45,979 160.68 3,040 193.44 0.0759
2020-05-11 2020-03-31 13F BROWN & BROWN COM 115236101 28,616 -339 -1.17 1,036 -9.36 0.0289
2020-02-13 2019-12-31 13F BROWN & BROWN COM 115236101 28,955 5,803 25.06 1,143 36.89 0.0246
2019-11-12 2019-09-30 13F BROWN & BROWN COM 115236101 23,152 -199 -0.85 835 6.78 0.0191
2019-08-12 2019-06-30 13F BROWN & BROWN COM 115236101 23,351 23,351 782 0.0173
2013-10-28 2013-09-30 13F BROWN & BROWN COM 115236101 0 0 0 0.0000
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.