Brown Advisory Inc and its affiliated entities have filed a Schedule 13G reporting passive ownership of Andersen Group Inc. Class A common stock.
The group reports beneficial ownership of 3,876,680 shares, representing 15.3% of Andersen Group’s Class A common stock. Voting and investment power is held through subsidiaries, including Brown Advisory LLC, Brown Investment Advisory & Trust Co, and Signature Financial Management, Inc., on behalf of investment companies and other managed accounts, and is certified as held in the ordinary course of business without intent to influence control.
Positive
None.
Negative
None.
Insights
Brown Advisory discloses a 15.3% passive stake in Andersen Group.
Brown Advisory Inc and affiliates report beneficial ownership of 3,876,680 Andersen Group Class A shares, equal to 15.3% of the class. The stake is spread across entities like Brown Advisory LLC and Brown Investment Advisory & Trust Co.
The filing states the securities are held in the ordinary course of business and not to change or influence control, consistent with a passive institutional position under Schedule 13G. Shares are held for investment companies and other managed accounts of Brown Advisory subsidiaries.
Voting power is largely sole at the subsidiary level, with shared dispositive power over most shares. Future ownership updates, if any, would typically appear in amended beneficial ownership statements for periods ending on or after 02/04/2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Andersen Group Inc.
(Name of Issuer)
Class A common stock, par value $0.0001 per share
(Title of Class of Securities)
033853102
(CUSIP Number)
02/04/2026
(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)
SCHEDULE 13G
CUSIP No.
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
1,471,985.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,938,340.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,938,340.00
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)
15.3 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP No.
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
8,563.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
8,563.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
8,563.00
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 No.
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
1,462,693.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,929,048.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,929,048.00
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)
15.2 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
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
729.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
729.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
729.00
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
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.
(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
(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:
3,876,680
(b)
Percent of class:
15.3 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
BROWN ADVISORY INC - 1,471,985
BROWN INVESTMENT ADVISORY & TRUST CO - 8,563
BROWN ADVISORY LLC - 1,462,693
SIGNATURE FINANCIAL MANAGEMENT, INC. - 729
(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
(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
(iv) Shared power to dispose or to direct the disposition of:
BROWN ADVISORY INC - 1,938,340
BROWN INVESTMENT ADVISORY & TRUST CO - 8,563
BROWN ADVISORY LLC - 1,929,048
SIGNATURE FINANCIAL MANAGEMENT, INC. - 729
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)
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 does the Schedule 13G filing reveal about Brown Advisory’s stake in ANDG?
The filing shows Brown Advisory Inc and affiliates beneficially own 3,876,680 Andersen Group Class A shares, representing 15.3% of the class. The position is reported as passive and held through investment companies and other managed accounts of Brown Advisory subsidiaries.
How many Andersen Group (ANDG) shares does each Brown Advisory entity report?
Brown Advisory Inc reports sole voting power over 1,471,985 shares and shared dispositive power over 1,938,340. Brown Advisory LLC reports sole voting power over 1,462,693 and shared dispositive power over 1,929,048, while related trust and Signature Financial units each hold smaller blocks.
What percentage of Andersen Group’s Class A stock is owned by Brown Advisory?
The combined Brown Advisory entities report beneficial ownership of 3,876,680 Andersen Group Class A shares, equal to 15.3% of the outstanding class. This level of ownership triggers Schedule 13G reporting as a significant but passive institutional holder.
Is Brown Advisory seeking to influence control of Andersen Group (ANDG)?
The certification states the securities were acquired and are held in the ordinary course of business, not to change or influence control of Andersen Group. The filing characterizes Brown Advisory’s position as passive rather than part of any control-seeking transaction.
On whose behalf are Brown Advisory’s Andersen Group shares held?
The shares are beneficially owned by investment companies and other managed accounts of direct and indirect subsidiaries of Brown Advisory Inc. These subsidiaries may be deemed beneficial owners because advisory contracts grant them voting and/or investment power over the securities.
Which entities are included in Brown Advisory’s Andersen Group ownership filing?
The filing lists Brown Advisory Inc as parent, and subsidiaries Brown Investment Advisory & Trust Co, Brown Advisory LLC, and Signature Financial Management, Inc. The trust company is classified as a bank, while Brown Advisory LLC and Signature Financial are classified as investment advisers.
