Artisan Mid Cap Value Fund initiated a new position in Brown & Brown during the first quarter of 2026, making it one of the three largest new buys alongside Veralto and IQVIA Holdings. The fund cited the insurance broker's attractive business economics, sound financial condition, and compressed valuation as key reasons for the purchase. Brown & Brown shares have fallen 35.94% over the past 52 weeks, closing at $69.27 on July 7, 2026, with a market capitalization of $23.48 billion. The fund believes the risk/reward is favorable as the stock trades near the lower end of its historical valuation range, despite near-term growth moderation and increased competition. The portfolio underperformed the Russell Midcap Value Index in the quarter, with its Investor Class returning -4.93% versus the index's 3.68% gain.
Brown & Brown IncFund initiated new position citing attractive business economics, sound financial condition, and compressed valuation.
IQVIA Holdings Inc
Veralto Corporation