BROWN & BROWN INC

Ticker: BRO CUSIP: 115236101 Class: Common Stock

Arizona State Retirement System's Holding History (CIK: 0001558481)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 79,468 Value ($000) $6,334 Avg Close $83.36 Range $76.17 - $96.35

Q3 2025

Shares 87,802 Value ($000) $8,235 Avg Close $97.18 Range $89.80 - $110.60

Q2 2025

Shares 85,664 Value ($000) $9,498 Avg Close $111.89 Range $101.62 - $125.05

Q1 2025

Shares 70,291 Value ($000) $8,744 Avg Close $111.13 Range $99.54 - $124.34

Q4 2024

Shares 70,426 Value ($000) $7,185 Avg Close $106.04 Range $100.21 - $113.42

Q3 2024

Shares 69,465 Value ($000) $7,197 Avg Close $98.62 Range $87.51 - $105.19

Q2 2024

Shares 66,732 Value ($000) $5,967 Avg Close $85.97 Range $79.47 - $92.90

Q1 2024

Shares 66,536 Value ($000) $5,825 Avg Close $79.49 Range $68.39 - $87.05

Q4 2023

Shares 66,256 Value ($000) $4,711 Avg Close $70.55 Range $65.78 - $75.31

Q3 2023

Shares 65,777 Value ($000) $4,594 Avg Close $70.26 Range $65.48 - $73.51

Q2 2023

Shares 65,948 Value ($000) $4,540 Avg Close $62.56 Range $56.07 - $68.16

Q1 2023

Shares 69,990 Value ($000) $4,019 Avg Close $56.43 Range $51.89 - $61.02

Q4 2022

Shares 67,958 Value ($000) $3,872 Avg Close $57.30 Range $52.69 - $62.66

Q3 2022

Shares 65,878 Value ($000) $3,984 Avg Close $61.54 Range $56.16 - $66.97

Q2 2022

Shares 66,950 Value ($000) $3,906 Avg Close $59.93 Range $51.70 - $72.04

Q1 2022

Shares 66,823 Value ($000) $4,829 Avg Close $65.38 Range $59.61 - $72.18

Q4 2021

Shares 65,171 Value ($000) $4,580 Avg Close $62.78 Range $53.93 - $68.90

Q3 2021

Shares 67,233 Value ($000) $3,728 Avg Close $54.15 Range $50.65 - $57.81

Q2 2021

Shares 67,772 Value ($000) $3,601 Avg Close $49.88 Range $44.30 - $52.77

Q1 2021

Shares 69,616 Value ($000) $3,182 Avg Close $44.44 Range $41.30 - $47.14

Q4 2020

Shares 68,932 Value ($000) $3,268 Avg Close $44.47 Range $41.53 - $47.00

Q3 2020

Shares 73,299 Value ($000) $3,318 Avg Close $43.00 Range $38.78 - $45.74

Q2 2020

Shares 55,747 Value ($000) $2,272 Avg Close $37.12 Range $31.94 - $42.11

Q1 2020

Shares 55,112 Value ($000) $1,996 Avg Close $40.59 Range $29.50 - $46.78

Q4 2019

Shares 132,609 Value ($000) $5,235 Avg Close $35.99 Range $33.47 - $38.75

Q3 2019

Shares 145,499 Value ($000) $5,247 Avg Close $34.20 Range $31.99 - $35.60

Q2 2019

Shares 169,901 Value ($000) $5,692 Avg Close $30.24 Range $28.15 - $32.00

Q1 2019

Shares 166,699 Value ($000) $4,919 Avg Close $27.17 Range $24.91 - $28.69

Q4 2018

Shares 168,343 Value ($000) $4,640 Avg Close $26.83 Range $24.42 - $28.25

Q3 2018

Shares 164,588 Value ($000) $4,867 Avg Close $28.12 Range $26.00 - $29.87

Q2 2018

Shares 159,185 Value ($000) $4,414 Avg Close $25.69 Range $22.93 - $27.05

Q1 2018

Shares 154,760 Value ($000) $3,937 Avg Close $24.58 Range $23.27 - $25.37

Q4 2017

Shares 83,280 Value ($000) $4,286 Avg Close $23.56 Range $22.50 - $24.62

Q3 2017

Shares 65,788 Value ($000) $3,170 Avg Close $20.98 Range $19.74 - $22.93

Q2 2017

Shares 48,500 Value ($000) $2,089 Avg Close $19.99 Range $19.12 - $20.80

Q1 2017

Shares 47,700 Value ($000) $1,990 Avg Close $20.11 Range $19.39 - $21.23

Q4 2016

Shares 44,388 Value ($000) $1,991 Avg Close $18.83 Range $16.72 - $21.16

Q3 2016

Shares 48,691 Value ($000) $1,836 Avg Close $17.08 Range $16.49 - $17.61

Q2 2016

Shares 49,391 Value ($000) $1,851 Avg Close $16.34 Range $15.71 - $17.26

Q1 2016

Shares 60,091 Value ($000) $2,151 Avg Close $14.72 Range $12.98 - $16.48

Q4 2015

Shares 58,991 Value ($000) $1,894 Avg Close $14.60 Range $13.84 - $15.12

Q3 2015

Shares 53,605 Value ($000) $1,660 Avg Close $14.92 Range $13.51 - $15.75

Q4 2014

Shares 73,545 Value ($000) $2,420 Avg Close $14.46 Range $13.90 - $15.05

Q3 2014

Shares 74,945 Value ($000) $2,409 Avg Close $14.20 Range $13.44 - $15.03

Q2 2014

Shares 77,845 Value ($000) $2,390 Avg Close $13.44 Range $12.61 - $13.96

Q1 2014

Shares 76,345 Value ($000) $2,348 Avg Close $13.68 Range $12.39 - $14.62

Q4 2013

Shares 84,745 Value ($000) $2,660 Avg Close $14.08 Range $12.34 - $14.94

Q3 2013

Shares 93,245 Value ($000) $2,993 Avg Close $14.46 Range $13.54 - $15.53

Q2 2013

Shares 90,645 Value ($000) $2,922 Avg Close $13.98 Range $13.22 - $14.70

Q1 2013

Shares 91,645 Value ($000) $2,936 Avg Close $12.75 Range $11.12 - $14.14

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	79,468	$6,334	$83.36	$76.17 - $96.35
Q3 2025	87,802	$8,235	$97.18	$89.80 - $110.60
Q2 2025	85,664	$9,498	$111.89	$101.62 - $125.05
Q1 2025	70,291	$8,744	$111.13	$99.54 - $124.34
Q4 2024	70,426	$7,185	$106.04	$100.21 - $113.42
Q3 2024	69,465	$7,197	$98.62	$87.51 - $105.19
Q2 2024	66,732	$5,967	$85.97	$79.47 - $92.90
Q1 2024	66,536	$5,825	$79.49	$68.39 - $87.05
Q4 2023	66,256	$4,711	$70.55	$65.78 - $75.31
Q3 2023	65,777	$4,594	$70.26	$65.48 - $73.51
Q2 2023	65,948	$4,540	$62.56	$56.07 - $68.16
Q1 2023	69,990	$4,019	$56.43	$51.89 - $61.02
Q4 2022	67,958	$3,872	$57.30	$52.69 - $62.66
Q3 2022	65,878	$3,984	$61.54	$56.16 - $66.97
Q2 2022	66,950	$3,906	$59.93	$51.70 - $72.04
Q1 2022	66,823	$4,829	$65.38	$59.61 - $72.18
Q4 2021	65,171	$4,580	$62.78	$53.93 - $68.90
Q3 2021	67,233	$3,728	$54.15	$50.65 - $57.81
Q2 2021	67,772	$3,601	$49.88	$44.30 - $52.77
Q1 2021	69,616	$3,182	$44.44	$41.30 - $47.14
Q4 2020	68,932	$3,268	$44.47	$41.53 - $47.00
Q3 2020	73,299	$3,318	$43.00	$38.78 - $45.74
Q2 2020	55,747	$2,272	$37.12	$31.94 - $42.11
Q1 2020	55,112	$1,996	$40.59	$29.50 - $46.78
Q4 2019	132,609	$5,235	$35.99	$33.47 - $38.75
Q3 2019	145,499	$5,247	$34.20	$31.99 - $35.60
Q2 2019	169,901	$5,692	$30.24	$28.15 - $32.00
Q1 2019	166,699	$4,919	$27.17	$24.91 - $28.69
Q4 2018	168,343	$4,640	$26.83	$24.42 - $28.25
Q3 2018	164,588	$4,867	$28.12	$26.00 - $29.87
Q2 2018	159,185	$4,414	$25.69	$22.93 - $27.05
Q1 2018	154,760	$3,937	$24.58	$23.27 - $25.37
Q4 2017	83,280	$4,286	$23.56	$22.50 - $24.62
Q3 2017	65,788	$3,170	$20.98	$19.74 - $22.93
Q2 2017	48,500	$2,089	$19.99	$19.12 - $20.80
Q1 2017	47,700	$1,990	$20.11	$19.39 - $21.23
Q4 2016	44,388	$1,991	$18.83	$16.72 - $21.16
Q3 2016	48,691	$1,836	$17.08	$16.49 - $17.61
Q2 2016	49,391	$1,851	$16.34	$15.71 - $17.26
Q1 2016	60,091	$2,151	$14.72	$12.98 - $16.48
Q4 2015	58,991	$1,894	$14.60	$13.84 - $15.12
Q3 2015	53,605	$1,660	$14.92	$13.51 - $15.75
Q4 2014	73,545	$2,420	$14.46	$13.90 - $15.05
Q3 2014	74,945	$2,409	$14.20	$13.44 - $15.03
Q2 2014	77,845	$2,390	$13.44	$12.61 - $13.96
Q1 2014	76,345	$2,348	$13.68	$12.39 - $14.62
Q4 2013	84,745	$2,660	$14.08	$12.34 - $14.94
Q3 2013	93,245	$2,993	$14.46	$13.54 - $15.53
Q2 2013	90,645	$2,922	$13.98	$13.22 - $14.70
Q1 2013	91,645	$2,936	$12.75	$11.12 - $14.14