In a significant portfolio adjustment, First Eagle Investment Management reduced its stake in insurance brokerage Brown & Brown, Inc. by nearly 50%. According to its latest quarterly filing, the investment firm sold approximately 11.7 million shares, decreasing its holding from 23.46 million to 11.76 million shares. The reported value of First Eagle's position in BRO fell from $1.50 billion to $716.29 million.
Investors should note that 13F filings are delayed disclosures. This report, filed on November 10, 2026, reflects trading activity that occurred during the third quarter, which ended on September 30, 2026. Brown & Brown is one of the largest independent insurance intermediaries in the U.S., providing insurance products and risk management solutions to a wide range of clients.