Andersen Group Inc. ownership disclosure: this Schedule 13G/A (Amendment No. 3) reports that subsidiaries of Brown Advisory Inc. beneficially own 2,516,555 shares of Class A common stock, representing 19.89% of the class as reported. The filing lists sole voting power of 2,154,479 shares for Brown Advisory Inc. and breaks out related subsidiary holdings and voting/dispositive powers. The filing is signed by the Chief Compliance Officer on 05/15/2026.
Positive
None.
Negative
None.
Insights
Brown Advisory group reports a near-20% beneficial stake in ANDG.
The filing lists a total beneficial ownership of 2,516,555 shares representing 19.89% of Class A common stock as of the reported schedule. The ownership is held across parent and subsidiaries with detailed voting and dispositive power splits.
Cash-flow treatment or sale intentions are not described in the excerpt; subsequent filings would disclose any sales or Form 4s. Ownership is reported under parent/subsidiary classifications, which is typical for investment-adviser-managed accounts.
Filing clarifies voting and dispositive power across related entities.
The schedule itemizes sole voting power (e.g., 2,154,479 shares for Brown Advisory Inc.) and shared dispositive power totals for subsidiaries. It also states the reporting is made by a parent holding company on behalf of subsidiaries.
Because this is a 13G/A disclosure, it documents passive/managed holdings rather than an acquisition announcement; governance implications depend on whether holdings are used for voting or remain in managed accounts.
Key Figures
Beneficial ownership:2,516,555 sharesPercent of class:19.89%Sole voting power (Brown Advisory Inc.):2,154,479 shares+2 more
Percent of class19.89%Percent of Class A common stock reported (Item 4(b))
Sole voting power (Brown Advisory Inc.)2,154,479 sharesSole power to vote as reported in Item 4(c)(i)
Shared dispositive power (total)2,516,555 sharesShared power to dispose reported across entities (Item 4(c)(iv))
Signature date05/15/2026Form signed by Chief Compliance Officer
Key Terms
beneficially own, sole voting power, shared dispositive power, parent holding company filing
4 terms
beneficially ownregulatory
"The total securities being reported are beneficially owned by investment companies"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
sole voting powerregulatory
"Sole power to vote or to direct the vote: BROWN ADVISORY INC - 2,154,479"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
shared dispositive powerregulatory
"Shared power to dispose or to direct the disposition of: BROWN ADVISORY LLC - 2,494,652"
parent holding company filingregulatory
"BROWN ADVISORY INC is a parent holding company filing this schedule"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Andersen Group Inc.
(Name of Issuer)
Class A common stock, par value $0.0001 per share
(Title of Class of Securities)
033853102
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
033853102
1
Names of Reporting Persons
BROWN ADVISORY INC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MARYLAND
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,154,479.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,516,555.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,516,555.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
19.89 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
033853102
1
Names of Reporting Persons
BROWN INVESTMENT ADVISORY & TRUST CO
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MARYLAND
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
13,139.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,139.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,139.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.1 %
12
Type of Reporting Person (See Instructions)
BK
SCHEDULE 13G
CUSIP Number(s):
033853102
1
Names of Reporting Persons
BROWN ADVISORY LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MARYLAND
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,132,576.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,494,652.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,494,652.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
19.72 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
033853102
1
Names of Reporting Persons
SIGNATURE FINANCIAL MANAGEMENT, INC.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
VIRGINIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,185.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,185.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,185.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.01 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
033853102
1
Names of Reporting Persons
BROWN ADVISORY LTD
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
7,579.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,579.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,579.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.06 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Andersen Group Inc.
(b)
Address of issuer's principal executive offices:
333 BUSH ST STE 1700, SAN FRANCISCO, CALIFORNIA
94104
Item 2.
(a)
Name of person filing:
BROWN ADVISORY INC
BROWN INVESTMENT ADVISORY & TRUST CO
BROWN ADVISORY LLC
SIGNATURE FINANCIAL MANAGEMENT, INC.
BROWN ADVISORY LTD
(b)
Address or principal business office or, if none, residence:
901 SOUTH BOND STREET
SUITE #400
Baltimore, Maryland
21231
(c)
Citizenship:
BROWN ADVISORY INC - MARYLAND
BROWN INVESTMENT ADVISORY & TRUST CO - MARYLAND
BROWN ADVISORY LLC - MARYLAND
SIGNATURE FINANCIAL MANAGEMENT, INC. - VIRGINIA
BROWN ADVISORY LTD - UNITED KINGDOM
(d)
Title of class of securities:
Class A common stock, par value $0.0001 per share
(e)
CUSIP No.:
033853102
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
2516555
(b)
Percent of class:
19.89 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
BROWN ADVISORY INC - 2,154,479
BROWN INVESTMENT ADVISORY & TRUST CO - 13,139
BROWN ADVISORY LLC - 2,132,576
SIGNATURE FINANCIAL MANAGEMENT, INC. - 1,185
BROWN ADVISORY LTD - 7,579
(ii) Shared power to vote or to direct the vote:
BROWN ADVISORY INC - 0
BROWN INVESTMENT ADVISORY & TRUST CO - 0
BROWN ADVISORY LLC - 0
SIGNATURE FINANCIAL MANAGEMENT, INC. - 0
BROWN ADVISORY LTD - 0
(iii) Sole power to dispose or to direct the disposition of:
BROWN ADVISORY INC - 0
BROWN INVESTMENT ADVISORY & TRUST CO - 0
BROWN ADVISORY LLC - 0
SIGNATURE FINANCIAL MANAGEMENT, INC. - 0
BROWN ADVISORY LTD - 0
(iv) Shared power to dispose or to direct the disposition of:
BROWN ADVISORY INC - 2,516,555
BROWN INVESTMENT ADVISORY & TRUST CO - 13,139
BROWN ADVISORY LLC - 2,494,652
SIGNATURE FINANCIAL MANAGEMENT, INC. - 1,185
BROWN ADVISORY LTD - 7,579
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The total securities being reported are beneficially owned by investment companies and other managed accounts of direct/indirect subsidiaries of BROWN ADVISORY INC (listed above). These subsidiaries may be deemed to be beneficial owners of the reported securities because applicable investment advisory contracts provide voting and/or investment power over securities.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
BROWN ADVISORY INC is a parent holding company filing this schedule on behalf of the following subsidiaries pursuant to Rule 13d-1(b)(1)(ii)(G) under the Securities Exchange Act of 1934:
BROWN INVESTMENT ADVISORY & TRUST CO - BK (Bank)
BROWN ADVISORY LLC - IA (Investment Adviser)
SIGNATURE FINANCIAL MANAGEMENT, INC. - IA (Investment Adviser)
BROWN ADVISORY LTD - IA (Investment Adviser)
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Brown Advisory report in Andersen Group (ANDG)?
Brown Advisory reports beneficial ownership of 2,516,555 shares, equal to 19.89% of Class A common stock as stated in the schedule.
How much sole voting power does Brown Advisory have in ANDG?
The filing lists 2,154,479 shares as sole voting power held by Brown Advisory Inc., shown in the ownership breakdown of the schedule.
Are the holdings held by one entity or multiple subsidiaries?
The schedule reports holdings across a parent and subsidiaries: Brown Advisory Inc. and subsidiaries including Brown Advisory LLC and others, with allocation of voting and dispositive powers.
Who signed the Schedule 13G/A for Brown Advisory?
The filing is signed by Victor Fernandez, Chief Compliance Officer, with signature dates shown as 05/15/2026 on the amendment.
Does this Schedule 13G/A indicate a change in control or sale plans?
This schedule documents beneficial ownership and power allocations; it does not state any sale plans or change-of-control actions in the provided excerpt.
