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 ($578.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $27.37. Options: 2 managers hold calls ($913.8k notional), 1 hold puts ($648.4k).
Trends to Q2 2026
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 |
| Q3 2025 | 204 |
| Q4 2025 | 205 |
| Q1 2026 | 209 |
| Q2 2026 | 211 |
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 2024 | 94 | 63 |
| Q4 2024 | 82 | 90 |
| Q1 2025 | 96 | 85 |
| Q2 2025 | 96 | 91 |
| Q3 2025 | 104 | 85 |
| Q4 2025 | 73 | 102 |
| Q1 2026 | 98 | 92 |
| Q2 2026 | 108 | 88 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $204.5k | $1.2m | 5.76 |
| Q4 2025 | $315.7k | $205.2k | 0.65 |
| Q1 2026 | $14.1m | $975.2k | 0.07 |
| Q2 2026 | $913.8k | $648.4k | 0.71 |
Biggest buyers
| Slotnik Capital, LLC | New | +333.7k |
| BlackRock, Inc. | Added | +152.1k |
| DIMENSIONAL FUND ADVISORS LP | Added | +151.5k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +135.2k |
| Quantinno Capital Management LP | Added | +103.2k |
| FIRST TRUST ADVISORS LP | New | +81.7k |
| HRT FINANCIAL LP | New | +71.3k |
| STATE STREET CORP | Added | +65.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +52.0k |
| AQR CAPITAL MANAGEMENT LLC | Added | +45.3k |
Biggest sellers
| Lindsell Train Ltd | Reduced | -450.4k |
| Kessler Investment Group, LLC | Reduced | -98.8k |
| LOS ANGELES CAPITAL MANAGEMENT LLC | Sold out | -68.5k |
| VANGUARD CAPITAL MANAGEMENT LLC | Reduced | -59.8k |
| Maxi Investments CY Ltd | Sold out | -50.5k |
| GARDNER RUSSO & QUINN LLC | Reduced | -50.1k |
| JANE STREET GROUP, LLC | Sold out | -38.4k |
| Ethic Inc. | Reduced | -37.4k |
| SEI INVESTMENTS CO | Sold out | -30.4k |
| XTX Topco Ltd | Reduced | -22.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $558.1k20.4k shares |
| CITADEL ADVISORS LLC | Added | $355.7k13.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $648.4k23.7k 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 since 1 Apr 2026
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.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 1 | $732.9k | $732.9k |
| Q4 2025 | 0 | — | 1 | $662.4k | $662.4k |
| Q1 2026 | 0 | — | 1 | $803.6k | $803.6k |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| Lindsell Train Ltd 2.22% of their portfolio | 2.1m $58.4m | Reduced -450.4k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 2.0m $54.4m | Added +8.6k |
| BlackRock, Inc. 0.00% of their portfolio | 1.6m $44.5m | Added +152.1k |
| GARDNER RUSSO & QUINN LLC 0.49% of their portfolio | 1.6m $43.7m | Reduced -50.1k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.4m $37.1m | Reduced -59.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 907.2k $24.8m | Added +135.2k |
| GABELLI FUNDS LLC 0.16% of their portfolio | 901.1k $24.7m | Unchanged |
| Markel Group Inc. 0.18% of their portfolio | 843.0k $23.1m | Unchanged |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 646.5k $17.7m | Added +151.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 607.4k $16.6m | Added +27.1k |
| Glenview Trust Co 0.19% of their portfolio | 503.3k $13.8m | Reduced -619 |
| MORGAN STANLEY 0.00% of their portfolio | 349.2k $9.6m | Added +10.1k |
| Slotnik Capital, LLC 2.54% of their portfolio | 333.7k $9.1m | New |
| NORGES BANK 0.00% of their portfolio | 288.9k $7.9m | Not comparable |
| Quantinno Capital Management LP 0.01% of their portfolio | 277.0k $7.6m | Added +103.2k |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 276.5k $7.6m | Reduced -797 |
| Kessler Investment Group, LLC 2.55% of their portfolio | 218.1k $6.0m | Reduced -98.8k |
| STATE STREET CORP 0.00% of their portfolio | 206.8k $5.7m | Added +65.6k |
| GAMCO INVESTORS, INC. ET AL 0.05% of their portfolio | 202.1k $5.5m | Reduced -3.7k |
| Cerity Partners LLC 0.01% of their portfolio | 169.8k $4.6m | Reduced -4.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 166.3k $4.6m | Added +22.1k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 150.0k $4.1m | Added +5.8k |
| GRACE & WHITE INC /NY 0.48% of their portfolio | 110.4k $3.0m | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 103.5k $2.8m | Added +45.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 102.8k $2.8m | Added +25.2k |
| Bronte Capital Management Pty Ltd. 0.29% of their portfolio | 95.4k $2.6m | Reduced -5.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 92.9k $2.5m | Added +52.0k |
| STOCK YARDS BANK & TRUST CO 0.07% of their portfolio | 89.6k $2.5m | Unchanged |
| HARVEY INVESTMENT CO LLC 0.25% of their portfolio | 85.5k $2.3m | Unchanged |
| Swiss National Bank 0.00% of their portfolio | 84.5k $2.3m | Reduced -15.5k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 81.7k $2.2m | New |
| Nuveen, LLC 0.00% of their portfolio | 77.4k $2.1m | Added +414 |
| BROWN ADVISORY INC 0.00% of their portfolio | 74.0k $2.0m | Reduced -18 |
| UBS Group AG 0.00% of their portfolio | 71.6k $2.0m | Added +20.2k |
| HRT FINANCIAL LP 0.00% of their portfolio | 71.3k $1.9m | New |
| Pitcairn Wealth Advisors LLC 0.21% of their portfolio | 68.5k $1.9m | Added +1.1k |
| KING LUTHER CAPITAL MANAGEMENT CORP 0.01% of their portfolio | 66.5k $1.8m | Unchanged |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 59.8k $1.6m | Reduced -8.2k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 59.0k $1.6m | Added +2.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 58.1k $1.6m | Reduced -4.8k |
| Mariner, LLC 0.00% of their portfolio | 55.4k $1.5m | Added +761 |
| HighTower Advisors, LLC 0.00% of their portfolio | 55.2k $1.5m | Added +38.8k |
| Ethic Inc. 0.02% of their portfolio | 49.2k $1.3m | Reduced -37.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 48.1k $1.3m | Added +6.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 46.7k $1.3m | Reduced -1.3k |
| Pathstone Holdings, LLC 0.00% of their portfolio | 46.4k $1.3m | Reduced -5.4k |
| TCV Trust & Wealth Management, Inc. 0.09% of their portfolio | 45.4k $1.2m | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 44.9k $1.3m | Reduced -3.3k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 44.6k $1.2m | Reduced -2.4k |
| OCCUDO QUANTITATIVE STRATEGIES LP 0.06% of their portfolio | 44.4k $1.2m | Added +31.0k |
| Legal & General Group Plc 0.00% of their portfolio | 40.7k $1.1m | Reduced -5.5k |
| Aristides Capital LLC 0.28% of their portfolio | 40.6k $1.1m | Unchanged |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 39.3k $1.1m | Reduced -1.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 36.4k $994.7k | Added +7.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 36.0k $985.0k | Unchanged |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 35.2k $962.3k | Added +5.9k |
| Williams Jones Wealth Management, LLC. 0.01% of their portfolio | 32.3k $883.7k | Unchanged |
| SCHULHOFF & CO INC 0.35% of their portfolio | 32.2k $882.4k | Unchanged |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 32.2k $882.0k | Added +3.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 31.5k $861.8k | New |
| Boston Trust Walden Corp 0.01% of their portfolio | 30.1k $823.5k | Reduced -300 |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 27.1k $742.4k | Added +2.0k |
| Invesco Ltd. 0.00% of their portfolio | 26.6k $726.9k | Added +1.6k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 26.5k $724.0k | Added +1.7k |
| Summit Trail Advisors, LLC 0.01% of their portfolio | 26.2k $717.4k | Reduced -718 |
| BESSEMER GROUP INC 0.00% of their portfolio | 26.0k $710.0k | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 25.4k $694.0k | Added +8.2k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 24.1k $659.1k | Reduced -884 |
| US BANCORP \DE\ 0.00% of their portfolio | 23.5k $643.9k | Added +934 |
| EP Wealth Advisors, LLC 0.00% of their portfolio | 23.2k $634.6k | Added +2.4k |
| Lido Advisors, LLC 0.00% of their portfolio | 22.4k $618.8k | Added +10.8k |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 21.6k $590.8k | Added +5.0k |
| FMR LLC 0.00% of their portfolio | 20.4k $558.4k | Reduced -1.5k |
| Atlas Brown,Inc. 0.15% of their portfolio | 20.4k $556.8k | Unchanged |
| HUB Investment Partners, LLC 0.01% of their portfolio | 20.1k $550.6k | Added +1.5k |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 20.1k $550.2k | Added +12.7k |
| DAYMARK WEALTH PARTNERS, LLC 0.01% of their portfolio | 20.1k $549.8k | Added +22 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 19.6k $535.6k | Reduced -930 |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 18.8k $511.0k | Reduced -1.1k |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 18.7k $512.7k | Added +55 |
| LPL Financial LLC 0.00% of their portfolio | 18.7k $511.0k | Added +16 |
| XTX Topco Ltd 0.01% of their portfolio | 18.6k $508.4k | Reduced -22.3k |
| Treasurer of the State of North Carolina 0.00% of their portfolio | 18.3k $501.0k | Reduced -360 |
| PARTHENON LLC 0.05% of their portfolio | 18.2k $498.0k | Unchanged |
| Corient Private Wealth LP 0.00% of their portfolio | 18.2k $495.3k | Added +5.3k |
| PRIVATE TRUST CO NA 0.04% of their portfolio | 18.0k $493.8k | Unchanged |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 17.4k $476.9k | Unchanged |
| Frec Markets, Inc. 0.04% of their portfolio | 16.5k $450.3k | New |
| Kennon-Green & Company, LLC 0.35% of their portfolio | 16.4k $448.5k | Added +4.3k |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 16.3k $445.2k | Added +3.4k |
| CIBC WORLD MARKET INC. 0.00% of their portfolio | 14.8k $403.6k | Added +93 |
| Jupiter Topco LLC 0.00% of their portfolio | 14.7k $401.1k | First filing |
| BARTLETT & CO. WEALTH MANAGEMENT LLC 0.00% of their portfolio | 14.2k $391.2k | Unchanged |
| Amundi 0.00% of their portfolio | 13.3k $362.9k | Added +5.7k |
| 1832 Asset Management L.P. 0.00% of their portfolio | 13.2k $361.2k | Unchanged |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 12.7k $346.3k | Reduced -207 |
| MARSHALL WACE, LLP 0.00% of their portfolio | 12.6k $343.8k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 12.5k $341.5k | New |
| OSSIAM 0.00% of their portfolio | 12.3k $337.1k | New |
| TOBAM 0.08% of their portfolio | 12.3k $336.0k | New |