Brown & Brown, Inc. bonds BRO
Who owns Brown & Brown, Inc.'s debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. BRO stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 115236AH4 | 4.6% fixed | 2026-12-23 | USD | 100.05 | 4.45% | 66 bp | 9 | $127.9M | Jul 2026 |
| 115236AJ0 | 4.7% fixed | 2028-06-23 | USD | 99.81 | 4.80% | 60 bp | 24 | $89.4M | Jul 2026 |
| 115236AB7 | 4.5% fixed | 2029-03-15 | USD | 98.68 | 5.04% | 80 bp | 10 | $41.6M | Jul 2026 |
| 115236AK7 | 4.9% fixed | 2030-06-23 | USD | 99.11 | 5.15% | 86 bp | 21 | $42.4M | Jul 2026 |
| 115236AC5 | 2.375% fixed | 2031-03-15 | USD | 88.15 | 5.30% | 98 bp | 23 | $47.0M | Jul 2026 |
| 115236AE1 | 4.2% fixed | 2032-03-17 | USD | 93.96 | 5.46% | 109 bp | 19 | $51.8M | Jul 2026 |
| 115236AL5 | 5.25% fixed | 2032-06-23 | USD | 98.82 | 5.49% | 110 bp | 26 | $25.1M | Jul 2026 |
| 115236AG6 | 5.65% fixed | 2034-06-11 | USD | 99.41 | 5.74% | 124 bp | 18 | $64.8M | Jul 2026 |
| 115236AM3 | 5.55% fixed | 2035-06-23 | USD | 98.10 | 5.83% | 128 bp | 32 | $59.0M | Jul 2026 |
| 115236AF8 | 4.95% fixed | 2052-03-17 | USD | 80.81 | 6.50% | 139 bp | 8 | $7.0M | Jul 2026 |
| 115236AN1 | 6.25% fixed | 2055-06-23 | USD | 96.75 | 6.50% | 140 bp | 14 | $25.2M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 11 | $581.3M | 98.68 | 5.47% | 109 bp | 32 |
| Jun 2026 | 11 | $1.02B | 99.86 | 5.22% | 96 bp | 68 |
| May 2026 | 11 | $551.4M | 100.16 | 5.20% | 97 bp | 33 |
| Apr 2026 | 11 | $620.3M | 99.70 | 5.25% | 122 bp | 30 |
| Mar 2026 | 11 | $1.04B | 99.85 | 5.29% | 134 bp | 70 |
| Feb 2026 | 11 | $562.0M | 100.97 | 4.88% | 108 bp | 33 |
| Jan 2026 | 11 | $641.9M | 101.33 | 4.85% | 94 bp | 39 |
| Dec 2025 | 11 | $1.03B | 101.21 | 4.81% | 98 bp | 90 |
| Nov 2025 | 11 | $664.4M | 100.99 | 4.79% | 100 bp | 39 |
| Oct 2025 | 11 | $558.7M | 100.89 | 4.81% | 101 bp | 42 |
| Sep 2025 | 11 | $1.07B | 101.00 | 4.79% | 98 bp | 96 |
| Aug 2025 | 11 | $739.8M | 100.99 | 4.85% | 87 bp | 38 |
| Jul 2025 | 11 | $545.4M | 100.30 | 5.04% | 90 bp | 42 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 86 added, 55 cut, 11 new holders and 24 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $103.2M | $102.1M | -$3.8M |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $97.4M | $90.9M | $0 |
| Bond Fund of America | 2026-06-30 | $87.0M | $87.1M | $0 |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $87.9M | $84.3M | $2.3M |
| American Balanced Fund | 2026-06-30 | $83.7M | $83.7M | $0 |
| VANGUARD ULTRA-SHORT-TERM BOND FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $66.1M | $66.0M | $0 |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $65.3M | $62.9M | $0 |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $57.3M | $54.4M | $0 |
| Capital Group Central Corporate Bond Fund Capital Group Central Fund Series II | 2026-05-31 | $49.4M | $49.6M | -$6.6M |
| First Trust Enhanced Short Maturity ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $49.4M | $49.4M | $0 |
| Income Fund of America | 2026-07-31 | $40.3M | $39.6M | $0 |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $36.4M | $36.4M | -$4.0M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $35.2M | $34.2M | -$3.0M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $33.9M | $32.6M | $13.2M |
| Putnam Ultra Short Duration Income Fund Putnam Funds Trust | 2026-07-31 | $30.5M | $30.6M | $0 |
| MFS Income Fund MFS Series Trust VIII | 2026-07-31 | $31.1M | $30.0M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $29.6M | $28.3M | $175K |
| Strategic Advisers Fidelity Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $27.1M | $27.0M | $0 |
| VANGUARD ULTRA-SHORT BOND ETF VANGUARD BOND INDEX FUNDS | 2026-06-30 | $26.1M | $26.1M | $0 |
| Bridge Builder Core Bond Fund Bridge Builder Trust | 2026-06-30 | $26.0M | $25.7M | $0 |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $25.2M | $24.9M | $425K |
| American Funds Strategic Bond Fund | 2026-06-30 | $24.6M | $24.6M | $0 |
| MFS Total Return Bond Fund MFS Series Trust IX | 2026-07-31 | $26.3M | $24.2M | $0 |
| Baird Intermediate Bond Fund Baird Funds Inc | 2026-06-30 | $22.2M | $21.3M | $0 |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $21.0M | $21.1M | $25K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Franklin Managed Income Fund ($25.0M), Aristotle Strategic Income Fund ($16.0M), Lord Abbett Income Fund ($12.0M), ALPS | Smith Total Return Bond Fund ($7.8M), Aristotle Core Income Fund ($3.1M), Allspring Ultra Short-Term Income Fund ($3.0M), Franklin Investment Grade Corporate ETF ($2.0M), PIMCO Low Duration Income Fund ($1.4M), THRIVENT SHORT-TERM BOND FUND ($1.3M), Guggenheim Limited Duration Fund ($1.1M).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $103.2M | $102.1M | 0.15% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 10 | $87.9M | $84.3M | 0.02% |
| FTSM First Trust Enhanced Short Maturity ETF | 2026-07-31 | 2 | $49.4M | $49.4M | 0.76% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $33.9M | $32.6M | 0.07% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 10 | $29.6M | $28.3M | 0.02% |
| VUSB VANGUARD ULTRA-SHORT BOND ETF | 2026-06-30 | 2 | $26.1M | $26.1M | 0.29% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 3 | $25.2M | $24.9M | 0.05% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $21.0M | $21.1M | 0.07% |
| FSIG First Trust Limited Duration Investment Grade Corporate ETF | 2026-07-31 | 5 | $21.8M | $20.8M | 1.37% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $20.0M | $19.8M | 0.11% |
| CGSD Capital Group Short Duration Income ETF | 2026-06-30 | 3 | $15.6M | $15.6M | 0.67% |
| FTCB First Trust Core Investment Grade ETF | 2026-07-31 | 4 | $16.4M | $15.6M | 0.61% |
| UCON First Trust Smith Unconstrained Bond ETF | 2026-05-31 | 1 | $14.8M | $14.8M | 0.45% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 4 | $14.3M | $14.1M | 0.12% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 10 | $13.2M | $12.8M | 0.07% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 109 bp spread prices in about 1.8% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Not available.
The stock side: 13F filings
What institutions report holding in BRO's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 95 | $267.0M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 800 | $17.77B | 7 | $10.7M | 8 | $42.7M | 0 |
| 2026-03-31 | 799 | $15.29B | 7 | $11.8M | 9 | $33.2M | 0 |
| 2025-12-31 | 879 | $21.25B | 5 | $7.4M | 6 | $15.5M | 0 |
| 2025-09-30 | 888 | $24.30B | 3 | $6.1M | 7 | $16.0M | 0 |
| 2025-06-30 | 918 | $29.21B | 6 | $33.4M | 9 | $39.9M | 0 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.