Vault-13

BROWN FORMAN CORP BF.A

CL A · Common Stock · CUSIP 115637100

American-owned spirit and wine producer and distributor

198 institutional holders -11 vs Q1 2025
17,977,09618.0m shares reported held*
$494.1mreported value*
22 new 74 added 57 reduced 34 sold out net sold ≈ $25.0m (-910.4k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($211.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $27.48. Options: 2 managers hold calls ($291.2k notional), 3 hold puts ($1.7m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 212Q4 22: 217Q1 23: 201Q2 23: 198Q3 23: 186Q4 23: 193Q1 24: 190Q2 24: 190Q3 24: 205Q4 24: 207Q1 25: 209Q2 25: 198198Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022212
Q4 2022217
Q1 2023201
Q2 2023198
Q3 2023186
Q4 2023193
Q1 2024190
Q2 2024190
Q3 2024205
Q4 2024207
Q1 2025209
Q2 2025198

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 58 bought or addedQ3 23: 85 cut or sold outQ4 23: 71 bought or addedQ4 23: 73 cut or sold outQ4 23Q1 24: 58 bought or addedQ1 24: 94 cut or sold outQ2 24: 78 bought or addedQ2 24: 85 cut or sold outQ2 24Q3 24: 94 bought or addedQ3 24: 63 cut or sold outQ4 24: 82 bought or addedQ4 24: 90 cut or sold outQ4 24Q1 25: 96 bought or addedQ1 25: 85 cut or sold outQ2 25: 96 bought or addedQ2 25: 91 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20235885
Q4 20237173
Q1 20245894
Q2 20247885
Q3 20249463
Q4 20248290
Q1 20259685
Q2 20259691

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ3 24 calls: $105.8kQ3 24 puts: $57.7kQ3 24P/C 0.55Q4 24 calls: $399.5kQ4 24 puts: $177.1kQ4 24P/C 0.44Q1 25 calls: $1.3mQ1 25 puts: $485.6kQ1 25P/C 0.36Q2 25 calls: $291.2kQ2 25 puts: $1.7mQ2 25P/C 5.74
Numbers
QuarterCallsPutsP/C
Q3 2024$105.8k$57.7k0.55
Q4 2024$399.5k$177.1k0.44
Q1 2025$1.3m$485.6k0.36
Q2 2025$291.2k$1.7m5.74

Biggest buyers

NORTHERN TRUST CORP Added +113,630+113.6k
RHUMBLINE ADVISERS Added +104,114+104.1k
VANGUARD GROUP INC Added +101,573+101.6k
Bank of New York Mellon Corp Added +82,241+82.2k
Wealthfront Advisers LLC Added +78,169+78.2k
MORGAN STANLEY Added +75,226+75.2k
AQR CAPITAL MANAGEMENT LLC Added +65,010+65.0k
GEODE CAPITAL MANAGEMENT, LLC Added +56,379+56.4k
DIMENSIONAL FUND ADVISORS LP Added +51,981+52.0k
Aristides Capital LLC New +35,000+35.0k

Biggest sellers

Baird Financial Group, Inc. Reduced -1,018,150-1.0m
BESSEMER GROUP INC Reduced -211,058-211.1k
STATE OF WISCONSIN INVESTMENT BOARD Reduced -161,204-161.2k
POINCIANA ADVISORS GROUP, LLC Reduced -57,020-57.0k
Cubist Systematic Strategies, LLC Sold out -46,206-46.2k
GARDNER RUSSO & QUINN LLC Reduced -43,774-43.8k
Malaga Cove Capital, LLC Sold out -33,774-33.8k
SG Americas Securities, LLC Sold out -33,430-33.4k
Stokes Family Office, LLC Sold out -31,300-31.3k
GABELLI FUNDS LLC Reduced -27,400-27.4k

Biggest calls

CITADEL ADVISORS LLC Reduced $291.2k10.6k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Added $947.7k34.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $722.5k26.3k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Wolf Pen Branch, LP 13D · may seek influence filed 2026-06-03 60.3% 101.6m≈ $2.8bn 2026-06-03

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 3,281,4983.3m $90.1m $90.1m 0.00% Added +101.6k +101,573
2 Lindsell Train Ltd 1.77% of their portfolio London, X0 2,733,3412.7m $75.1m $75.1m 1.77% Reduced -19.0k -18,986
3 GARDNER RUSSO & QUINN LLC 0.53% of their portfolio LANCASTER, PA 1,827,1481.8m $50.2m $50.2m 0.53% Reduced -43.8k -43,774
4 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,090,3581.1m $30.0m $30.0m 0.00% Reduced -11.1k -11,095
5 GABELLI FUNDS LLC 0.18% of their portfolio Rye, NY 900,900900.9k $24.7m $24.7m 0.18% Reduced -27.4k -27,400
6 Markel Group Inc. 0.20% of their portfolio Glen Allen, VA 843,000843.0k $23.2m $23.2m 0.20% Unchanged
7 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 633,073633.1k $17.4m $17.4m 0.00% Added +82.2k +82,241
8 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 575,211575.2k $15.8m $15.8m 0.00% Added +75.2k +75,226
9 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 539,237539.2k $14.8m $14.8m 0.00% Added +56.4k +56,379
10 Glenview Trust Co 0.24% of their portfolio Louisville, KY 501,594501.6k $13.9m $13.9m 0.24% Unchanged
11 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 437,012437.0k $12.0m $12.0m 0.01% Reduced -2.7k -2,716
12 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 270,321270.3k $7.4m $7.4m 0.00% Added +52.0k +51,981
13 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 254,320254.3k $7.0m $7.0m 0.00% Added +113.6k +113,630
14 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 250,345250.3k $6.9m $6.9m 0.01% Added +3.6k +3,585
15 GAMCO INVESTORS, INC. ET AL 0.07% of their portfolio GREENWICH, CT 240,304240.3k $6.6m $6.6m 0.07% Reduced -450 -450
16 Wealthfront Advisers LLC 0.01% of their portfolio Palo Alto, CA 195,406195.4k $5.4m $5.4m 0.01% Added +78.2k +78,169
17 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 193,641193.6k $5.3m $5.3m 0.00% Added +104.1k +104,114
18 Legal & General Group Plc 0.00% of their portfolio London, X0 167,203167.2k $4.6m $4.6m 0.00% Added +27.0k +27,011
19 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 159,525159.5k $4.4m $4.4m 0.01% Reduced -1.0m -1,018,150
20 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 141,656141.7k $3.9m $3.9m 0.00% Added +24.7k +24,654
21 GRACE & WHITE INC /NY 0.61% of their portfolio NY, NY 122,173122.2k $3.4m $3.4m 0.61% Unchanged
22 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 108,382108.4k $3.0m $3.0m 0.01% Reduced -161.2k -161,204
23 STOCK YARDS BANK & TRUST CO 0.08% of their portfolio LOUISVILLE, KY 90,26390.3k $2.5m $2.5m 0.08% Reduced -639 -639
24 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 89,77789.8k $2.5m $2.5m 0.00% Added +65.0k +65,010
25 HARVEY INVESTMENT CO LLC 0.26% of their portfolio LOUISVILLE, KY 85,52485.5k $2.3m $2.3m 0.26% Unchanged
26 BROWN ADVISORY INC 0.00% of their portfolio BALTIMORE, MD 81,96882.0k $2.3m $2.3m 0.00% Reduced -2.5k -2,508
27 CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio TORONTO ONTARIO, A6 81,66181.7k $2.2m $2.2m 0.00% Added +15.4k +15,352
28 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 68,17668.2k $1.9m $1.9m 0.00% Reduced -15.8k -15,800
29 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 67,40567.4k $1.9m $1.9m 0.00% Reduced -790 -790
30 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 67,39667.4k $1.9m $1.9m 0.00% Added +19.5k +19,518
31 KING LUTHER CAPITAL MANAGEMENT CORP 0.01% of their portfolio FORT WORTH, TX 66,50066.5k $1.8m $1.8m 0.01% Unchanged
32 POINCIANA ADVISORS GROUP, LLC 1.30% of their portfolio PALM BEACH GARDENS, FL 52,57352.6k $1.4m $1.4m 1.30% Reduced -57.0k -57,020
33 Ethic Inc. 0.02% of their portfolio NEW YORK, NY 49,31349.3k $1.3m $1.3m 0.02% Added +3.4k +3,427
34 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 49,16349.2k $1.4m $1.4m 0.00% Added +28.7k +28,688
35 Pathstone Holdings, LLC 0.01% of their portfolio ENGLEWOOD, NJ 48,83948.8k $1.3m $1.3m 0.01% Reduced -597 -597
36 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 47,92447.9k $1.3m $1.3m 0.00% Added +8.5k +8,472
37 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 47,59547.6k $1.3m $1.3m 0.00% Added +3.1k +3,074
38 Sather Financial Group Inc 0.07% of their portfolio Victoria, TX 45,78545.8k $1.3m $1.3m 0.07% Reduced -478 -478
39 Mariner, LLC 0.00% of their portfolio Overland Park, KS 45,52445.5k $1.3m $1.3m 0.00% Added +21.8k +21,779
40 PITCAIRN CO 0.08% of their portfolio CONSHOHOCKEN, PA 45,00645.0k $1.2m $1.2m 0.08% Added +9.8k +9,754
41 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 43,19043.2k $1.2m $1.2m 0.00% Reduced -2.2k -2,155
42 USS Investment Management Ltd 0.01% of their portfolio London, X0 41,49441.5k $1.1m $1.1m 0.01% Added +19.8k +19,800
43 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 38,00338.0k $1.0m $1.0m 0.00% Reduced -12.8k -12,778
44 TCV Trust & Wealth Management, Inc. 0.09% of their portfolio RICHMOND, VA 37,25037.2k $1.0m $1.0m 0.09% Unchanged
45 JOURNEY STRATEGIC WEALTH LLC 0.03% of their portfolio SUMMIT, NJ 36,73036.7k $1.0m $1.0m 0.03% Added +156 +156
46 UBS Group AG 0.00% of their portfolio ZURICH, V8 36,24836.2k $995.7k $995.7k 0.00% Added +21.7k +21,698
47 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 36,00736.0k $989.1k $989.1k 0.00% Reduced -25.7k -25,734
48 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 36,00036.0k $989.0k $989.0k 0.00% Unchanged
49 Aristides Capital LLC 0.31% of their portfolio LOUISVILLE, KY 35,00035.0k $961.5k $961.5k 0.31% New
50 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 33,13833.1k $909.0k $909.0k 0.00% Reduced -1.4k -1,406
51 Williams Jones Wealth Management, LLC. 0.01% of their portfolio NEW YORK, NY 33,00033.0k $906.5k $906.5k 0.01% Unchanged
52 Boston Trust Walden Corp 0.01% of their portfolio BOSTON, MA 32,40032.4k $890.0k $890.0k 0.01% Unchanged
53 SCHULHOFF & CO INC 0.39% of their portfolio CINCINNATI, OH 32,25032.2k $885.9k $885.9k 0.39% Unchanged
54 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 29,08329.1k $798.9k $798.9k 0.00% Added +18.8k +18,751
55 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 28,91828.9k $794.4k $794.4k 0.00% Added +5.4k +5,409
56 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 26,44026.4k $726.3k $726.3k 0.00% Added +244 +244
57 EP Wealth Advisors, LLC 0.00% of their portfolio TORRANCE, CA 25,57425.6k $702.5k $702.5k 0.00% Reduced -385 -385
58 Advisors Capital Management, LLC 0.01% of their portfolio RIDGEWOOD, NJ 24,94224.9k $685.2k $685.2k 0.01% Unchanged
59 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 24,68624.7k $678.0k $678.0k 0.00% Reduced -8 -8
60 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 23,89023.9k $656.0k $656.0k 0.00% Reduced -211.1k -211,058
61 Stephens Consulting, LLC 0.15% of their portfolio FLINT, MI 23,49423.5k $645.4k $645.4k 0.15% Unchanged
62 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 22,39622.4k $615.2k $615.2k 0.00% Reduced -1.2k -1,224
63 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio TALLAHASSEE, FL 20,80120.8k $571.4k $571.4k 0.00% Reduced -12.0k -12,043
64 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 20,69920.7k $568.6k $568.6k 0.00% Added +11.7k +11,688
65 Treasurer of the State of North Carolina 0.00% of their portfolio RALEIGH, NC 20,36320.4k $559.0k $559.0k 0.00% Reduced -1.9k -1,917
66 Atlas Brown,Inc. 0.18% of their portfolio LOUISVILLE, KY 20,35120.4k $559.0k $559.0k 0.18% Unchanged
67 DAYMARK WEALTH PARTNERS, LLC 0.02% of their portfolio CINCINNATI, OH 19,97920.0k $548.8k $548.8k 0.02% Unchanged
68 PINEBRIDGE INVESTMENTS, L.P. 0.00% of their portfolio NEW YORK, NY 19,02219.0k $522.5k $522.5k 0.00% Added +45 +45
69 HUB Investment Partners, LLC 0.02% of their portfolio AUSTIN, TX 18,14218.1k $498.4k $498.4k 0.02% Added +942 +942
70 PRIVATE TRUST CO NA 0.05% of their portfolio CLEVELAND, OH 18,00018.0k $494.5k $494.5k 0.05% Unchanged
71 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 17,60817.6k $483.7k $483.7k 0.00% Added +13.2k +13,178
72 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 17,43217.4k $478.9k $478.9k 0.00% Reduced -2.7k -2,692
73 Town & Country Bank & Trust CO dba First Bankers Trust CO 0.18% of their portfolio Louisville, KY 17,22917.2k $473.3k $473.3k 0.18% Reduced -640 -640
74 PARTHENON LLC 0.05% of their portfolio LOUISVILLE, KY 17,20017.2k $472.5k $472.5k 0.05% Unchanged
75 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 16,82716.8k $462.2k $462.2k 0.00% Reduced -558 -558
76 BARLOW WEALTH PARTNERS, LLC 0.06% of their portfolio LOUISVILLE, KY 15,88715.9k $465.3k $465.3k 0.06% Unchanged
77 Douglass Winthrop Advisors, LLC 0.01% of their portfolio NEW YORK, NY 15,00915.0k $412.3k $412.3k 0.01% Unchanged
78 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.01% of their portfolio CINCINNATI, OH 14,62414.6k $405.0k $405.0k 0.01% Added +74 +74
79 IEQ CAPITAL, LLC 0.00% of their portfolio Foster City, CA 14,23414.2k $391.0k $391.0k 0.00% New
80 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 13,53713.5k $371.9k $371.9k 0.00% Reduced -1.5k -1,454
81 JARISLOWSKY, FRASER Ltd 0.00% of their portfolio MONTREAL, A8 13,20013.2k $362.6k $362.6k 0.00% Reduced -1.3k -1,300
82 Cherokee Insurance Co 0.14% of their portfolio STERLING HEIGHTS, MI 12,00012.0k $329.6k $329.6k 0.14% Unchanged
83 FMR LLC 0.00% of their portfolio BOSTON, MA 11,76611.8k $323.2k $323.2k 0.00% Reduced -11.8k -11,817
84 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 11,71611.7k $321.8k $321.8k 0.00% Reduced -140 -140
85 First Western Trust Bank 0.01% of their portfolio Denver, CO 11,12411.1k $305.6k $305.6k 0.01% New
86 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 10,85810.9k $298.3k $298.3k 0.00% Reduced -2.0k -1,960
87 Meeder Advisory Services, Inc. 0.01% of their portfolio DUBLIN, OH 10,49210.5k $288.2k $288.2k 0.01% Added +1.5k +1,513
88 Empowered Funds, LLC 0.00% of their portfolio NEWTOWN SQUARE, PA 10,38310.4k $285.2k $285.2k 0.00% New
89 ALPS ADVISORS INC 0.00% of their portfolio Denver, CO 10,32510.3k $283.6k $283.6k 0.00% Added +125 +125
90 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 10,10810.1k $277.7k $277.7k 0.00% Added +1.8k +1,787
91 KPP Advisory Services LLC 0.05% of their portfolio Louisville, KY 9,98810.0k $274.4k $274.4k 0.05% Unchanged
92 Sippican Capital Advisors 0.20% of their portfolio BOSTON, MA 9,8559.9k $270.7k $270.7k 0.20% Added +4 +4
93 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 9,7439.7k $267.6k $267.6k 0.00% Added +833 +833
94 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 9,7409.7k $267.6k $267.6k 0.00% Added +4.0k +4,033
95 Apella Capital, LLC 0.01% of their portfolio WEST HARTFORD, CT 9,5599.6k $269.1k $269.1k 0.01% New
96 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 9,2959.3k $255.3k $255.3k 0.00% Reduced -1.8k -1,799
97 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 9,0899.1k $249.7k $249.7k 0.00% Added +9.0k +9,004
98 Kennon-Green & Company, LLC 0.20% of their portfolio NEW ALBANY, OH 8,7348.7k $246.9k $246.9k 0.20% Reduced -5.0k -5,011
99 CWM, LLC 0.00% of their portfolio OMAHA, NE 8,5578.6k $235.0k $235.0k 0.00% Added +3.3k +3,285
100 J.W. COLE ADVISORS, INC. 0.00% of their portfolio TAMPA, FL 8,3538.4k $229.4k $229.4k 0.00% Added +45 +45