BRO at a glance
Brown & Brown (BRO, SEC CIK 79282) filed its latest 10-K annual report on February 12, 2026, a 10-Q quarterly report on July 27, 2026, an 8-K current report on September 10, 2026 and Form 4 insider filings as recently as September 23, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Brown & Brown (BRO) reported revenue of $5.9 billion (up 22.8% from FY2024) and net income of $1.1 billion. Diluted EPS was $3.16.
- As of June 30, 2026, 40 institutional investment managers tracked by SignalX reported holding Brown & Brown (BRO) shares worth $8.9 billion in 13F-HR filings.
- The most recent insider open-market purchase reported on Form 4 was by JOHNSON JOIA M on June 9, 2026 of 860 shares at $58.05 per share.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $5.9B
- +22.8% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 40 funds
- $8.9B · +1 vs prior quarter
- Latest 8-K
- Sep 10, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Risk Factors
- Regulatory/legal risk: Enforcement of anti-corruption laws for acquired businesses may lead to fines, compliance costs, or reputational damage
- Geopolitical/macroeconomic risk: Significant business concentration in Florida (16%), Michigan (9%), Massachusetts (8%) exposed to regional economic downturns or natural disasters
- Operational/supply chain risk: Cybersecurity threats exacerbated by generative AI use and complexities integrating Accession acquisition systems
- Competitive risk: New AI-enabled platforms and competitors using generative AI, blockchain, robotics may bypass traditional intermediaries, reducing demand for Brown & Brown’s services
- Financial/structural risk: Key-person dependency risk with intense competition for talent; loss of executive officers or skilled employees could materially harm business and innovation
Management Discussion & Analysis
- Revenue $5,902M, up 22.8% YoY from $4,805M driven by core commissions and fees increase of $969M (+21.3%)
- Net income $1,054M, up 6.1% YoY from $993M; income before income taxes margin 23.2% vs 27.1% in prior year
- Best performing segment Retail: revenue $3,406M (+24.8% YoY), EBITDAC Margin 30.0% flat YoY; worst Specialty Distribution: revenue $2,409M (+19.5%), EBITDAC Margin 43.1% vs 42.8% prior year
- Operating cash flow $1,450M up $276M; acquisitions capex $7,854M (notably Accession $7,463M); cash and equivalents $1,079M (+$404M); $225M debt drawn in 2026 for general purposes
- Management notes acquisition integration costs, increased debt interest expense, and slowed organic growth rate (2.8% in 2025 vs 10.4% prior); key risks include macroeconomic and regulatory environment impacts on underwriting results
Business Overview
- Core business: insurance agency and brokerage primarily in property, casualty, and employee benefits, with ancillary underwriting risk via captives and flood insurance carrier
- New segment structure: consolidated Programs and Wholesale Brokerage into new Specialty Distribution segment post-RSC acquisition in Q3 2025
- Strategic shift: streamlined from three to two reportable segments (Retail and Specialty Distribution) to enhance operational focus and reporting comparability
- Notable metric: workforce expansion by 5,794 employees in 2025 due to 43 acquisitions, totaling 22,888 employees worldwide
- Unique fact: Specialty Distribution’s largest customer accounts for 7.2% of segment commissions, indicating significant client concentration in that segment
AI summary of the BRO 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $1.676B, up 30.4% YoY from $1.285B
- Income-before-tax margin 22.9% vs 24.2%; adjusted EBITDAC margin 35.7% vs 36.7%
- Core commissions and fees $1.569B, up 30.3%; contingents $85M, up 88.9%
- Acquisitions drove $393M revenue; organic revenue decreased 0.7%
- Interest expense rose 96.1% to $100M from higher acquisition-related debt
Risk Factors
- No material risk-factor changes from the December 31, 2025 Form 10-K
- New credit agreement dated June 5, 2026, creates updated financing-governance considerations
- Share repurchases totaled $250 million during the quarter, reducing available capital
- Remaining share-repurchase authorization approximately $900 million as of June 30, 2026
AI summary of the BRO 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Management may use Exhibit 99.1 materials in meetings with institutional investors and analysts
- Presentation also intended for investor conference presentations
Item EX-99.1: Item EX-99.1
- Company overview presentation highlighting Brown & Brown’s 2025 performance, strategy, segments, and acquisition-driven growth model
- Accession acquisition increased indebtedness and carries integration, financing, underwriting, and benefit-realization risks
Item 5.02: Departure/Appointment of Directors or Principal Officers
- P. Barrett Brown resigned as officer and subsidiary/affiliate director effective August 10, 2026, citing good reason
- Employment continues through July 31, 2027 for transition services at $1,000,000 annual salary
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results for quarter ended June 30, 2026, released July 27, 2026
- Full financial results and management commentary available in Exhibit 99.1 press release
Item EX-99.1: Item EX-99.1
- Q2 revenue $1.7B, up 30.4%, but organic revenue declined 0.7%, highlighting acquisition-led growth and limited underlying expansion
- Adjusted EPS $1.07, up 3.9%; GAAP EPS $0.84, up 7.7%, supported by acquisition-related adjustments
AI summaries of BRO 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for BRO
Don't miss the next BRO filing
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- Fund moves. Which tracked funds opened, added or cut BRO, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Hunt James S | G | Sep 21, 2026 | 5,000 | - |
| Hunt James S | G | Sep 21, 2026 | 5,000 | - |
| JOHNSON JOIA M | Buy | Jun 9, 2026 | 860 | $58.05 |
| JOHNSON JOIA M | A | May 6, 2026 | 2,434 | - |
| JENNINGS TONI | A | May 6, 2026 | 2,434 | - |
| KRUMP PAUL J | A | May 6, 2026 | 2,434 | - |
| Hunt James S | A | May 6, 2026 | 2,434 | - |
| Masojada Bronislaw Edmund | A | May 6, 2026 | 2,434 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $4.3B | $4.8B | $5.9B |
| Net Income | $870.5M | $993.0M | $1.1B |
| Net Margin | 20.4% | 20.7% | 17.9% |
| Balance Sheet | |||
| Total Assets | $14.9B | $17.6B | $30.0B |
| Equity | $5.6B | $6.4B | $12.6B |
| ROE | 15.6% | 15.4% | 8.4% |
| Per Share | |||
| EPS | - | $3.46 | $3.16 |
| Cash Flow | |||
| Operating CF | $1.0B | $1.2B | $1.4B |
| CapEx | $68.9M | $82.0M | $68.0M |
Source: XBRL data in Brown & Brown (BRO)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate BRO share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 40 | $8.87B |
| Q1 2026 | 39 | $8.64B |
| Q4 2025 | 40 | $10.13B |
| Q3 2025 | 43 | $12.12B |
| Q2 2025 | 41 | $14.21B |
| Q1 2025 | 33 | $10.43B |
| Q4 2024 | 30 | $7.15B |
| Q3 2024 | 25 | $3.92B |
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- Wells Fargo & Co−356.7K (-12%)
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- Millennium Management−124.6K (-74%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 291 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
BRO filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 23, 2026 | - | - | - |
| 8-K | Sep 10, 2026 | - | Analysis | - |
| 8-K | Aug 10, 2026 | - | Analysis | - |
| SC 13G | Aug 6, 2026 | - | - | |
| 10-Q | Jul 27, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 27, 2026 | - | Analysis | - |
| 4 | Jun 10, 2026 | - | - | |
| 8-K | Jun 5, 2026 | - | Analysis | |
| 8-K | May 7, 2026 | - | Analysis | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| 4 | May 6, 2026 | - | - | |
| SC 13G | Apr 29, 2026 | - | - | |
| 8-K | Apr 27, 2026 | - | Analysis | - |
| 10-Q | Apr 27, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | Apr 9, 2026 | - | Analysis | - |
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BRO SEC filings: frequently asked questions
Which institutions hold BRO stock?
As of June 30, 2026, the largest Brown & Brown (BRO) holders among the 13F filers tracked by SignalX were BlackRock ($1.4 billion), Vanguard Capital Management LLC ($1.2 billion), FMR LLC (Fidelity) ($1.2 billion), Principal Financial Group ($1.0 billion), Vanguard Portfolio Management LLC ($938.6 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was BRO's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Brown & Brown (BRO) reported revenue of $5.9 billion (up 22.8% from FY2024) and net income of $1.1 billion. Diluted EPS was $3.16. The figures come from the XBRL data in the 10-K.
What are the main risks in BRO's latest 10-K?
In the 10-K filed February 12, 2026, Brown & Brown (BRO) flagged: Regulatory/legal risk: Enforcement of anti-corruption laws for acquired businesses may lead to fines, compliance costs, or reputational damage. Geopolitical/macroeconomic risk: Significant business concentration in Florida (16%), Michigan (9%), Massachusetts (8%) exposed to regional economic downturns or natural disasters. (AI summary of the Risk Factors section.)
What did BRO report in its latest 8-K?
Brown & Brown (BRO) filed an 8-K on September 10, 2026 reporting Item 7.01 (Regulation FD Disclosure). Management may use Exhibit 99.1 materials in meetings with institutional investors and analysts.
What are the latest BRO SEC filings?
Brown & Brown (BRO) filed its latest 10-K annual report on February 12, 2026, a 10-Q quarterly report on July 27, 2026, an 8-K current report on September 10, 2026 and a Form 4 insider filing on September 23, 2026.
What is BRO's SEC CIK number?
Brown & Brown (BRO)'s SEC Central Index Key (CIK) is 79282. EDGAR lists every BRO filing under that number.
Ask anything about BRO
The research agent reads BRO's filings, financials, insider trades and 13F holders, then answers with sources.