BROWN FORMAN CORP BF.A
CL A · Common Stock · CUSIP 115637100
American-owned spirit and wine producer and distributor
- SectorConsumer staples
- IndustryBeverages
- HeadquartersLouisville, KY
- Founded1870
- Websitebrown-forman.com
- FilingsSEC EDGAR
* 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
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 212 |
| Q4 2022 | 217 |
| Q1 2023 | 201 |
| Q2 2023 | 198 |
| Q3 2023 | 186 |
| Q4 2023 | 193 |
| Q1 2024 | 190 |
| Q2 2024 | 190 |
| Q3 2024 | 205 |
| Q4 2024 | 207 |
| Q1 2025 | 209 |
| Q2 2025 | 198 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 58 | 85 |
| Q4 2023 | 71 | 73 |
| Q1 2024 | 58 | 94 |
| Q2 2024 | 78 | 85 |
| Q3 2024 | 94 | 63 |
| Q4 2024 | 82 | 90 |
| Q1 2025 | 96 | 85 |
| Q2 2025 | 96 | 91 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $105.8k | $57.7k | 0.55 |
| Q4 2024 | $399.5k | $177.1k | 0.44 |
| Q1 2025 | $1.3m | $485.6k | 0.36 |
| Q2 2025 | $291.2k | $1.7m | 5.74 |
Biggest buyers
| NORTHERN TRUST CORP | Added | +113.6k |
| RHUMBLINE ADVISERS | Added | +104.1k |
| VANGUARD GROUP INC | Added | +101.6k |
| Bank of New York Mellon Corp | Added | +82.2k |
| Wealthfront Advisers LLC | Added | +78.2k |
| MORGAN STANLEY | Added | +75.2k |
| AQR CAPITAL MANAGEMENT LLC | Added | +65.0k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +56.4k |
| DIMENSIONAL FUND ADVISORS LP | Added | +52.0k |
| Aristides Capital LLC | New | +35.0k |
Biggest sellers
| Baird Financial Group, Inc. | Reduced | -1.0m |
| BESSEMER GROUP INC | Reduced | -211.1k |
| STATE OF WISCONSIN INVESTMENT BOARD | Reduced | -161.2k |
| POINCIANA ADVISORS GROUP, LLC | Reduced | -57.0k |
| Cubist Systematic Strategies, LLC | Sold out | -46.2k |
| GARDNER RUSSO & QUINN LLC | Reduced | -43.8k |
| Malaga Cove Capital, LLC | Sold out | -33.8k |
| SG Americas Securities, LLC | Sold out | -33.4k |
| Stokes Family Office, LLC | Sold out | -31.3k |
| GABELLI FUNDS LLC | Reduced | -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.
| Holder | Stake |
|---|---|
| Wolf Pen Branch, LP 13D · may seek influence filed 2026-06-03 | 60.3% |
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
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 3.3m $90.1m | Added +101.6k |
| Lindsell Train Ltd 1.77% of their portfolio | 2.7m $75.1m | Reduced -19.0k |
| GARDNER RUSSO & QUINN LLC 0.53% of their portfolio | 1.8m $50.2m | Reduced -43.8k |
| BlackRock, Inc. 0.00% of their portfolio | 1.1m $30.0m | Reduced -11.1k |
| GABELLI FUNDS LLC 0.18% of their portfolio | 900.9k $24.7m | Reduced -27.4k |
| Markel Group Inc. 0.20% of their portfolio | 843.0k $23.2m | Unchanged |
| Bank of New York Mellon Corp 0.00% of their portfolio | 633.1k $17.4m | Added +82.2k |
| MORGAN STANLEY 0.00% of their portfolio | 575.2k $15.8m | Added +75.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 539.2k $14.8m | Added +56.4k |
| Glenview Trust Co 0.24% of their portfolio | 501.6k $13.9m | Unchanged |
| PNC Financial Services Group, Inc. 0.01% of their portfolio | 437.0k $12.0m | Reduced -2.7k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 270.3k $7.4m | Added +52.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 254.3k $7.0m | Added +113.6k |
| Cerity Partners LLC 0.01% of their portfolio | 250.3k $6.9m | Added +3.6k |
| GAMCO INVESTORS, INC. ET AL 0.07% of their portfolio | 240.3k $6.6m | Reduced -450 |
| Wealthfront Advisers LLC 0.01% of their portfolio | 195.4k $5.4m | Added +78.2k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 193.6k $5.3m | Added +104.1k |
| Legal & General Group Plc 0.00% of their portfolio | 167.2k $4.6m | Added +27.0k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 159.5k $4.4m | Reduced -1.0m |
| STATE STREET CORP 0.00% of their portfolio | 141.7k $3.9m | Added +24.7k |
| GRACE & WHITE INC /NY 0.61% of their portfolio | 122.2k $3.4m | Unchanged |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 108.4k $3.0m | Reduced -161.2k |
| STOCK YARDS BANK & TRUST CO 0.08% of their portfolio | 90.3k $2.5m | Reduced -639 |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 89.8k $2.5m | Added +65.0k |
| HARVEY INVESTMENT CO LLC 0.26% of their portfolio | 85.5k $2.3m | Unchanged |
| BROWN ADVISORY INC 0.00% of their portfolio | 82.0k $2.3m | Reduced -2.5k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 81.7k $2.2m | Added +15.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 68.2k $1.9m | Reduced -15.8k |
| Nuveen, LLC 0.00% of their portfolio | 67.4k $1.9m | Reduced -790 |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 67.4k $1.9m | Added +19.5k |
| KING LUTHER CAPITAL MANAGEMENT CORP 0.01% of their portfolio | 66.5k $1.8m | Unchanged |
| POINCIANA ADVISORS GROUP, LLC 1.30% of their portfolio | 52.6k $1.4m | Reduced -57.0k |
| Ethic Inc. 0.02% of their portfolio | 49.3k $1.3m | Added +3.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 49.2k $1.4m | Added +28.7k |
| Pathstone Holdings, LLC 0.01% of their portfolio | 48.8k $1.3m | Reduced -597 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 47.9k $1.3m | Added +8.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 47.6k $1.3m | Added +3.1k |
| Sather Financial Group Inc 0.07% of their portfolio | 45.8k $1.3m | Reduced -478 |
| Mariner, LLC 0.00% of their portfolio | 45.5k $1.3m | Added +21.8k |
| PITCAIRN CO 0.08% of their portfolio | 45.0k $1.2m | Added +9.8k |
| US BANCORP \DE\ 0.00% of their portfolio | 43.2k $1.2m | Reduced -2.2k |
| USS Investment Management Ltd 0.01% of their portfolio | 41.5k $1.1m | Added +19.8k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 38.0k $1.0m | Reduced -12.8k |
| TCV Trust & Wealth Management, Inc. 0.09% of their portfolio | 37.2k $1.0m | Unchanged |
| JOURNEY STRATEGIC WEALTH LLC 0.03% of their portfolio | 36.7k $1.0m | Added +156 |
| UBS Group AG 0.00% of their portfolio | 36.2k $995.7k | Added +21.7k |
| Quantinno Capital Management LP 0.00% of their portfolio | 36.0k $989.1k | Reduced -25.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 36.0k $989.0k | Unchanged |
| Aristides Capital LLC 0.31% of their portfolio | 35.0k $961.5k | New |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 33.1k $909.0k | Reduced -1.4k |
| Williams Jones Wealth Management, LLC. 0.01% of their portfolio | 33.0k $906.5k | Unchanged |
| Boston Trust Walden Corp 0.01% of their portfolio | 32.4k $890.0k | Unchanged |
| SCHULHOFF & CO INC 0.39% of their portfolio | 32.2k $885.9k | Unchanged |
| MARSHALL WACE, LLP 0.00% of their portfolio | 29.1k $798.9k | Added +18.8k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 28.9k $794.4k | Added +5.4k |
| Invesco Ltd. 0.00% of their portfolio | 26.4k $726.3k | Added +244 |
| EP Wealth Advisors, LLC 0.00% of their portfolio | 25.6k $702.5k | Reduced -385 |
| Advisors Capital Management, LLC 0.01% of their portfolio | 24.9k $685.2k | Unchanged |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 24.7k $678.0k | Reduced -8 |
| BESSEMER GROUP INC 0.00% of their portfolio | 23.9k $656.0k | Reduced -211.1k |
| Stephens Consulting, LLC 0.15% of their portfolio | 23.5k $645.4k | Unchanged |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 22.4k $615.2k | Reduced -1.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 20.8k $571.4k | Reduced -12.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 20.7k $568.6k | Added +11.7k |
| Treasurer of the State of North Carolina 0.00% of their portfolio | 20.4k $559.0k | Reduced -1.9k |
| Atlas Brown,Inc. 0.18% of their portfolio | 20.4k $559.0k | Unchanged |
| DAYMARK WEALTH PARTNERS, LLC 0.02% of their portfolio | 20.0k $548.8k | Unchanged |
| PINEBRIDGE INVESTMENTS, L.P. 0.00% of their portfolio | 19.0k $522.5k | Added +45 |
| HUB Investment Partners, LLC 0.02% of their portfolio | 18.1k $498.4k | Added +942 |
| PRIVATE TRUST CO NA 0.05% of their portfolio | 18.0k $494.5k | Unchanged |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 17.6k $483.7k | Added +13.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 17.4k $478.9k | Reduced -2.7k |
| Town & Country Bank & Trust CO dba First Bankers Trust CO 0.18% of their portfolio | 17.2k $473.3k | Reduced -640 |
| PARTHENON LLC 0.05% of their portfolio | 17.2k $472.5k | Unchanged |
| HighTower Advisors, LLC 0.00% of their portfolio | 16.8k $462.2k | Reduced -558 |
| BARLOW WEALTH PARTNERS, LLC 0.06% of their portfolio | 15.9k $465.3k | Unchanged |
| Douglass Winthrop Advisors, LLC 0.01% of their portfolio | 15.0k $412.3k | Unchanged |
| BARTLETT & CO. WEALTH MANAGEMENT LLC 0.01% of their portfolio | 14.6k $405.0k | Added +74 |
| IEQ CAPITAL, LLC 0.00% of their portfolio | 14.2k $391.0k | New |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 13.5k $371.9k | Reduced -1.5k |
| JARISLOWSKY, FRASER Ltd 0.00% of their portfolio | 13.2k $362.6k | Reduced -1.3k |
| Cherokee Insurance Co 0.14% of their portfolio | 12.0k $329.6k | Unchanged |
| FMR LLC 0.00% of their portfolio | 11.8k $323.2k | Reduced -11.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 11.7k $321.8k | Reduced -140 |
| First Western Trust Bank 0.01% of their portfolio | 11.1k $305.6k | New |
| LPL Financial LLC 0.00% of their portfolio | 10.9k $298.3k | Reduced -2.0k |
| Meeder Advisory Services, Inc. 0.01% of their portfolio | 10.5k $288.2k | Added +1.5k |
| Empowered Funds, LLC 0.00% of their portfolio | 10.4k $285.2k | New |
| ALPS ADVISORS INC 0.00% of their portfolio | 10.3k $283.6k | Added +125 |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 10.1k $277.7k | Added +1.8k |
| KPP Advisory Services LLC 0.05% of their portfolio | 10.0k $274.4k | Unchanged |
| Sippican Capital Advisors 0.20% of their portfolio | 9.9k $270.7k | Added +4 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 9.7k $267.6k | Added +833 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 9.7k $267.6k | Added +4.0k |
| Apella Capital, LLC 0.01% of their portfolio | 9.6k $269.1k | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 9.3k $255.3k | Reduced -1.8k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 9.1k $249.7k | Added +9.0k |
| Kennon-Green & Company, LLC 0.20% of their portfolio | 8.7k $246.9k | Reduced -5.0k |
| CWM, LLC 0.00% of their portfolio | 8.6k $235.0k | Added +3.3k |
| J.W. COLE ADVISORS, INC. 0.00% of their portfolio | 8.4k $229.4k | Added +45 |