Brown Advisory’s COVANCE INC. CVD Stock Holding History

Brown Advisory’s Portfolio CVD Stock Details CVD Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-3,109,194	Closed	-$323M	–	978
2014 Q4	$323M	Sell	3,109,194 -2,163,808	-41%	-$203M	1.02%	28
2014 Q3	$415M	Sell	5,273,002 -347,948	-6%	-$29.6M	1.33%	24
2014 Q2	$481M	Sell	5,620,950 -144,529	-3%	-$12.9M	1.51%	25
2014 Q1	$599M	Buy	5,765,479 +68,087	+1%	+$6.75M	1.91%	19
2013 Q4	$502M	Buy	5,697,392 +17,005	+0.3%	+$1.47M	1.63%	25
2013 Q3	$491M	Buy	5,680,387 +71,685	+1%	+$5.9M	1.75%	21
2013 Q2	$427M	Buy	+5,608,702	New	+$419M	1.71%	21

Other funds holding CVD

California Public Employees Retirement System Sacramento, California $162B AUM 25.78% 1-Year Est. Return

Burney Company Reston, Virginia $3.71B AUM 37.66% 1-Year Est. Return

Brown Advisory's CVD Position: Q1 2015 in Review

Brown Advisory sold out of COVANCE INC. (CVD) in Q1 2015, closing a stake of 3,109,194 shares — an estimated $323M sold.

Brown Advisory first reported a position in CVD in Q2 2013 and held it in 7 quarters. The position peaked at $599M in Q1 2014. 2 funds tracked by Wall St. Rank hold CVD as of Q1 2015.

Brown Advisory reported no remaining COVANCE INC. position as of Q1 2015 after selling out during the quarter.
Brown Advisory sold 3,109,194 COVANCE INC. shares in Q1 2015, an estimated $323M.
Brown Advisory first reported a position in COVANCE INC. in Q2 2013 and held it in 7 quarters.
Brown Advisory's COVANCE INC. position peaked at $599M in Q1 2014.
2 funds tracked by Wall St. Rank held COVANCE INC. as of Q1 2015.

Based on Brown Advisory's 13F filing for Q1 2015, filed 14 May 2015.