Brown Advisory Portfolio holdings

AUM $76B

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This Quarter Return

+14.97%

1 Year Return

+20.26%

3 Year Return

+97.64%

5 Year Return

+145.01%

10 Year Return

+460.18%

AUM

$76B

AUM Growth

+$76B (+8.6%)

Cap. Flow

-$2.59B

Cap. Flow % of AUM

-3.41%

Top 10 Holdings % Top 10 Hldgs %

31.37%

Holding

1,413

New

Increased

511

Reduced

595

Closed

Top Buys

1	Charles Schwab SCHW	$521M
2	BASG Brown Advisory Sustainable Growth ETF BASG	$490M
3	TSMC TSM	$455M
4	Spotify SPOT	$251M
5	Shopify SHOP	$234M

Top Sells

1	Alphabet (Google) Class A GOOGL	$804M
2	MSCI MSCI	$362M
3	Alphabet (Google) Class C GOOG	$354M
4	Thermo Fisher Scientific TMO	$346M
5	Intuit INTU	$320M

Sector Composition

1	Technology	33.63%
2	Financials	17.88%
3	Industrials	10.25%
4	Consumer Discretionary	9.1%
5	Healthcare	8.39%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
151	151 Cogent Communications CCOI $1.88B	$70.1M	0.09%	1,454,101 -217,369	-13%	-$10.5M
152	152 Illumina ILMN $15.8B	$69.3M	0.09%	725,987 -2,183,241	-75%	-$208M
153	153 Vanguard FTSE Emerging Markets ETF VWO $96.4B	$68.7M	0.09%	1,388,750 +6,714	+0.5%	+$332K
154	154 SPDR S&P MidCap 400 ETF Trust MDY $23.7B	$67.3M	0.09%	118,721 +543	+0.5%	+$308K
155	155 Lattice Semiconductor LSCC $9.09B	$67M	0.09%	1,366,703 +762,536	+126%	+$37.4M
156	156 Old Dominion Freight Line ODFL $31.7B	$66.7M	0.09%	410,896 +142,380	+53%	+$23.1M
157	157 NCR Atleos NATL $2.92B	$66.7M	0.09%	2,336,304 -144,696	-6%	-$4.13M
158	158 Align Technology ALGN $10.3B	$66.2M	0.09%	349,899 -43,067	-11%	-$8.15M
159	159 Timken Company TKR $5.38B	$65.4M	0.09%	901,988 +31,495	+4%	+$2.28M
160	160 Schwab US Broad Market ETF SCHB $36.2B	$65.3M	0.09%	2,738,170 -81,940	-3%	-$1.95M
161	161 Openlane KAR $3.07B	$65.1M	0.09%	2,662,789 +124,312	+5%	+$3.04M
162	162 iShares MSCI EAFE ETF EFA $66B	$64.8M	0.09%	725,468 +55,051	+8%	+$4.92M
163	163 Zurn Elkay Water Solutions ZWS $7.6B	$64.8M	0.09%	1,771,907 -165,882	-9%	-$6.07M
164	164 Broadcom AVGO $1.4T	$64M	0.08%	231,997 +6,389	+3%	+$1.76M
165	165 iShares MSCI ACWI ETF ACWI $22B	$63.3M	0.08%	492,387 +25,107	+5%	+$3.23M
166	166 Signet Jewelers SIG $3.62B	$63.3M	0.08%	795,565 -51,362	-6%	-$4.09M
167	167 iShares Russell 1000 ETF IWB $43.2B	$63M	0.08%	185,502 +32,265	+21%	+$11M
168	168 iShares S&P Small-Cap 600 Growth ETF IJT $6.27B	$62.7M	0.08%	471,121 +174,750	+59%	+$23.2M
169	169 Mine Safety MSA $6.68B	$62.6M	0.08%	373,830 -59,522	-14%	-$9.97M
170	170 Guidewire Software GWRE $18.3B	$61M	0.08%	259,289 -140,401	-35%	-$33.1M
171	171 Unilever UL $155B	$60.6M	0.08%	990,636 -49,555	-5%	-$3.03M
172	172 Littelfuse LFUS $6.44B	$60.5M	0.08%	266,841 -83,902	-24%	-$19M
173	173 SiteOne Landscape Supply SITE $6.39B	$60.4M	0.08%	499,817 -17,004	-3%	-$2.06M
174	174 Eastern Bankshares EBC $3.4B	$60.2M	0.08%	3,942,192 -238,185	-6%	-$3.64M
175	175 Rentokil RTO $12.4B	$59.9M	0.08%	2,495,842 -1,005,077	-29%	-$24.1M