BROWN FORMAN CORP BF.B
CL B · Common Stock · CUSIP 115637209 · ISIN US1156372096
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 ($41.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $43.19. Options: 7 managers hold calls ($28.8m notional), 6 hold puts ($14.7m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 664 |
| Q4 2022 | 679 |
| Q1 2023 | 663 |
| Q2 2023 | 656 |
| Q3 2023 | 625 |
| Q4 2023 | 618 |
| Q1 2024 | 616 |
| Q2 2024 | 590 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 304 | 273 |
| Q1 2023 | 274 | 298 |
| Q2 2023 | 272 | 290 |
| Q3 2023 | 229 | 318 |
| Q4 2023 | 264 | 280 |
| Q1 2024 | 246 | 318 |
| Q2 2024 | 277 | 310 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $5.1m | $9.5m | 1.87 |
| Q4 2023 | $16.0m | $4.2m | 0.26 |
| Q1 2024 | $19.7m | $10.2m | 0.52 |
| Q2 2024 | $28.8m | $14.7m | 0.51 |
Biggest buyers
| VAN ECK ASSOCIATES CORP | Added | +4.2m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Added | +2.4m |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +2.3m |
| Glenview Trust Co | Added | +1.8m |
| GOLDMAN SACHS GROUP INC | Added | +1.8m |
| LAZARD ASSET MANAGEMENT LLC | New | +1.8m |
| Champlain Investment Partners, LLC | Added | +1.4m |
| STATE STREET CORP | Added | +865.8k |
| Invesco Ltd. | Added | +649.6k |
| Madison Asset Management, LLC | Added | +638.1k |
Biggest sellers
| MORGAN STANLEY | Reduced | -5.5m |
| BlackRock Inc. | Reduced | -1.5m |
| FRANKLIN RESOURCES INC | Reduced | -1.4m |
| PRINCIPAL FINANCIAL GROUP INC | Reduced | -1.4m |
| JANUS HENDERSON GROUP PLC | Reduced | -1.1m |
| National Pension Service | Sold out | -481.6k |
| Mediolanum International Funds Ltd | Sold out | -438.2k |
| KBC Group NV | Reduced | -429.0k |
| FUNDSMITH INVESTMENT SERVICES LTD. | Reduced | -405.4k |
| Swiss National Bank | Reduced | -381.2k |
Biggest calls
| JANE STREET GROUP, LLC | Added | $14.8m341.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $4.6m105.5k shares |
| Walleye Capital LLC | New | $4.1m95.6k shares |
| CITADEL ADVISORS LLC | Added | $2.9m66.3k shares |
| SIMPLEX TRADING, LLC | Added | $2.1m48.2k shares |
| WOLVERINE TRADING, LLC | Added | $358.5k8.3k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $10.1m233.0k shares |
| CITADEL ADVISORS LLC | Added | $2.9m66.0k shares |
| Walleye Capital LLC | New | $1.3m30.2k shares |
| WOLVERINE TRADING, LLC | Added | $285.1k6.6k shares |
| SIMPLEX TRADING, LLC | Added | $228.0k5.3k 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 |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.6% |
Fell to 5% or below in the last year: FMR LLC (4.4%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2024
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 |
|---|---|---|---|---|---|
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 1 | $29.9k | — |
| Q2 2023 | 0 | — | 2 | $169.9k | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.03% of their portfolio | 31.4m $1.4bn | Reduced -58.9k |
| BlackRock Inc. 0.01% of their portfolio | 13.9m $599.5m | Reduced -1.5m |
| STATE STREET CORP 0.02% of their portfolio | 12.1m $527.1m | Added +865.8k |
| Fundsmith LLP 1.96% of their portfolio | 11.1m $481.1m | Reduced -320.0k |
| Champlain Investment Partners, LLC 1.34% of their portfolio | 5.1m $218.6m | Added +1.4m |
| VAN ECK ASSOCIATES CORP 0.27% of their portfolio | 4.4m $189.1m | Added +4.2m |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 4.1m $178.6m | Reduced -39.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.03% of their portfolio | 3.9m $166.4m | Added +2.3m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 3.8m $166.1m | Added +2.4m |
| Invesco Ltd. 0.03% of their portfolio | 3.6m $157.0m | Added +649.6k |
| FUNDSMITH INVESTMENT SERVICES LTD. 2.01% of their portfolio | 3.6m $155.9m | Reduced -405.4k |
| ProShare Advisors LLC 0.42% of their portfolio | 3.6m $155.7m | Added +464.2k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 3.0m $128.3m | Added +1.8m |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 2.8m $121.9m | Added +167.5k |
| MORGAN STANLEY 0.01% of their portfolio | 2.7m $118.1m | Reduced -5.5m |
| MACQUARIE GROUP LTD 0.13% of their portfolio | 2.7m $115.5m | Added +99.8k |
| Glenview Trust Co 2.11% of their portfolio | 2.4m $104.6m | Added +1.8m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 2.3m $101.2m | Added +271.4k |
| NORGES BANK 0.01% of their portfolio | 2.1m $89.5m | Added +230.8k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.9m $81.6m | Reduced -128.4k |
| LAZARD ASSET MANAGEMENT LLC 0.09% of their portfolio | 1.8m $75.6m | New |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.7m $74.0m | Added +353.6k |
| Alecta Tjanstepension Omsesidigt 0.39% of their portfolio | 1.6m $69.2m | Unchanged |
| Legal & General Group Plc 0.02% of their portfolio | 1.6m $68.2m | Reduced -327.8k |
| LONDON CO OF VIRGINIA 0.35% of their portfolio | 1.4m $62.3m | Added +14.4k |
| Madison Asset Management, LLC 0.74% of their portfolio | 1.4m $59.5m | Added +638.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 1.3m $54.8m | Added +61.2k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.2m $53.6m | Reduced -16.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 1.2m $53.6m | Reduced -1.4m |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.2m $53.4m | Reduced -17.5k |
| FMR LLC 0.00% of their portfolio | 1.1m $49.4m | Added +232.7k |
| Tandem Investment Advisors, Inc. 1.97% of their portfolio | 1.1m $49.4m | Added +15.3k |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 1.1m $48.9m | Reduced -11.9k |
| APG Asset Management N.V. 0.07% of their portfolio | 952.1k $38.4m | Reduced -78.3k |
| Vest Financial, LLC 0.94% of their portfolio | 903.7k $39.0m | Added +223.2k |
| GARDNER RUSSO & QUINN LLC 0.41% of their portfolio | 891.8k $38.5m | Reduced -13.1k |
| BESSEMER GROUP INC 0.07% of their portfolio | 856.0k $37.0m | Reduced -2.8k |
| PNC Financial Services Group, Inc. 0.02% of their portfolio | 779.0k $33.6m | Reduced -238.7k |
| NOMURA ASSET MANAGEMENT CO LTD 0.11% of their portfolio | 734.8k $31.7m | Added +98.4k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 710.0k $30.7m | Added +338.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 619.5k $26.8m | Added +3.2k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.07% of their portfolio | 582.5k $25.2m | Reduced -94.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 573.1k $24.8m | Added +232.7k |
| Swiss National Bank 0.02% of their portfolio | 536.6k $23.2m | Reduced -381.2k |
| ABSHER WEALTH MANAGEMENT, LLC 3.24% of their portfolio | 533.6k $23.0m | Added +128.0k |
| BARCLAYS PLC 0.01% of their portfolio | 531.4k $23.0m | Reduced -21.8k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 523.7k $22.6m | Reduced -49.5k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.08% of their portfolio | 497.6k $21.5m | Added +398.3k |
| KBC Group NV 0.06% of their portfolio | 476.4k $20.6m | Reduced -429.0k |
| Markel Group Inc. 0.20% of their portfolio | 474.2k $20.5m | Unchanged |
| PINEBRIDGE INVESTMENTS, L.P. 0.16% of their portfolio | 473.6k $20.5m | New |
| NATIXIS ADVISORS, LLC 0.04% of their portfolio | 463.4k $20.0m | Added +330.6k |
| Retirement Systems of Alabama 0.08% of their portfolio | 453.6k $19.6m | Reduced -25.2k |
| Baird Financial Group, Inc. 0.04% of their portfolio | 445.6k $19.2m | Reduced -23.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 439.3k $19.0m | Reduced -262.7k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 438.7k $18.9m | Added +76.4k |
| GRACE & WHITE INC /NY 3.43% of their portfolio | 423.3k $18.3m | Added +55.5k |
| Amundi 0.01% of their portfolio | 420.5k $17.6m | Reduced -87.6k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 419.2k $18.1m | Reduced -40.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 399.9k $17.3m | Reduced -1.4k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 394.8k $17.1m | Reduced -51.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 382.7k $16.5m | Added +3.8k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 380.7k $16.5m | Reduced -69.8k |
| Cerity Partners LLC 0.04% of their portfolio | 376.8k $16.3m | Added +6.3k |
| CITIGROUP INC 0.01% of their portfolio | 347.9k $15.0m | Added +89.1k |
| Sather Financial Group Inc 1.02% of their portfolio | 341.8k $14.8m | Added +19.3k |
| SCOUT INVESTMENTS, INC. 0.39% of their portfolio | 337.1k $14.6m | Added +208.9k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 322.9k $14.0m | Added +51.8k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 309.3k $13.4m | Reduced -178.4k |
| UBS Group AG 0.00% of their portfolio | 296.7k $12.8m | Reduced -39.2k |
| Lindsell Train Ltd 0.29% of their portfolio | 290.3k $12.5m | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 285.1k $12.3m | Added +235.8k |
| Manitou Investment Management Ltd. 2.74% of their portfolio | 283.7k $12.3m | New |
| CANADA LIFE ASSURANCE Co 0.02% of their portfolio | 281.0k $12.2m | Reduced -22.7k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 275.1k $11.9m | Added +67.6k |
| Stephens Investment Management Group LLC 0.16% of their portfolio | 266.7k $11.5m | Added +97.8k |
| RBO & CO LLC 2.00% of their portfolio | 259.4k $11.2m | Added +52.3k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 245.2k $10.6m | Reduced -9.1k |
| Douglass Winthrop Advisors, LLC 0.20% of their portfolio | 229.5k $9.9m | Reduced -71.5k |
| BROWN ADVISORY INC 0.01% of their portfolio | 229.1k $9.9m | Reduced -12.4k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 221.5k $9.6m | Reduced -6.4k |
| Janney Montgomery Scott LLC 0.03% of their portfolio | 203.7k $8.8m | Reduced -3.2k |
| M&G PLC 0.05% of their portfolio | 202.3k $8.7m | New |
| Cresset Asset Management, LLC 0.04% of their portfolio | 201.8k $8.7m | Added +29.9k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 192.0k $8.3m | Reduced -715 |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 185.0k $8.0m | Added +100.4k |
| BEACON INVESTMENT ADVISORY SERVICES, INC. 0.34% of their portfolio | 181.8k $7.9m | Reduced -40.8k |
| Bath Savings Trust Co 0.83% of their portfolio | 180.3k $7.8m | Added +5.3k |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 176.7k $7.6m | Added +39.8k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 175.9k $7.6m | Added +117.8k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 171.7k $7.4m | Reduced -5.6k |
| AVIVA PLC 0.02% of their portfolio | 153.4k $6.6m | Reduced -98.9k |
| GABELLI FUNDS LLC 0.05% of their portfolio | 147.2k $6.4m | Unchanged |
| YOUSIF CAPITAL MANAGEMENT, LLC 0.07% of their portfolio | 144.1k $6.2m | Added +5.0k |
| Jump Financial, LLC 0.12% of their portfolio | 143.6k $6.2m | Added +134.3k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.02% of their portfolio | 139.5k $6.0m | Reduced -13.4k |
| WHITTIER TRUST CO 0.09% of their portfolio | 138.9k $6.0m | Unchanged |
| SpiderRock Advisors, LLC 0.16% of their portfolio | 138.7k $6.0m | Added +56.8k |
| USS Investment Management Ltd 0.05% of their portfolio | 136.3k $5.9m | Reduced -33.9k |
| Savoir Faire Capital Management, L.P. 2.27% of their portfolio | 135.4k $5.8m | Added +56.9k |