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BCM
Brown Capital Management Portfolio holdings
AUM
$500M
1-Year Est. Return
25.3%
This Fund
S&P 500
This Quarter
Est. Return
+3.75%
1 Year Est. Return
+25.3%
3 Year Est. Return
+79.24%
5 Year Est. Return
+57.49%
10 Year Est. Return
+614.96%
AUM
$2.43B
AUM Growth
-$1.01B
(-29%)
Cap. Flow
-$1.01B
Cap. Flow
% of AUM
-41.55%
Top 10 Holdings %
Top 10 Hldgs %
43.95%
Holding
87
New
4
Increased
4
Reduced
46
Closed
33
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Corcept Therapeutics
CORT
|
+$17.4M |
| 2 |
Axogen
AXGN
|
+$9.35M |
| 3 |
Intapp
INTA
|
+$9.24M |
| 4 |
Badger Meter
BMI
|
+$9.06M |
| 5 |
Global E Online
GLBE
|
+$7.38M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ANSS
Ansys
ANSS
|
+$99.8M |
| 2 |
CYBR
CyberArk
CYBR
|
+$80.1M |
| 3 |
AppFolio
APPF
|
+$64M |
| 4 |
OLO
Olo Inc
OLO
|
+$58.4M |
| 5 |
Datadog
DDOG
|
+$58M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 60.67% |
| 2 | Healthcare | 23.83% |
| 3 | Consumer Discretionary | 8.61% |
| 4 | Industrials | 5.66% |
| 5 | Communication Services | 0.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CYBR
1
DELISTED
CyberArk
CYBR
| $197M | 8.13% |
408,291
-186,597
| -31% | -$80.1M |
|
2
Camtek
CAMT
$6.8B
| $121M | 5% |
1,153,943
+13,806
| +1% | +$1.24M |
|
3
Veeva Systems
VEEV
$44.5B
| $108M | 4.47% |
363,997
-192,855
| -35% | -$54.3M |
|
|
4
Datadog
DDOG
$76.5B
| $101M | 4.18% |
712,277
-421,051
| -37% | -$58M |
|
5
Guidewire Software
GWRE
$13.5B
| $95.2M | 3.92% |
414,259
-234,852
| -36% | -$53.4M |
|
|
6
AppFolio
APPF
$7.59B
| $94.3M | 3.88% |
341,942
-236,803
| -41% | -$64M |
|
7
Repligen
RGEN
$9.46B
| $89.4M | 3.68% |
668,858
-336,418
| -33% | -$40.9M |
|
8
Xometry
XMTR
$5.3B
| $87.8M | 3.62% |
1,611,682
-1,331,911
| -45% | -$57.8M |
|
9
Manhattan Associates
MANH
$12.5B
| $86M | 3.54% |
419,623
-228,609
| -35% | -$48.3M |
|
|
10
Global E Online
GLBE
$6.44B
| $85.5M | 3.52% |
2,389,842
+216,304
| +10% | +$7.38M |
|
11
Tyler Technologies
TYL
$14.9B
| $84.8M | 3.49% |
162,087
-77,303
| -32% | -$43.4M |
|
12
Flutter Entertainment
FLUT
$17.4B
| $69M | 2.84% |
271,715
-6,659
| -2% | -$1.95M |
|
13
Paycom
PAYC
$10.4B
| $67.9M | 2.8% |
326,013
-148,642
| -31% | -$33.5M |
|
14
Cognex
CGNX
$10.5B
| $65.4M | 2.7% |
1,443,896
-821,869
| -36% | -$33.3M |
|
15
Glaukos
GKOS
$10.5B
| $62.2M | 2.56% |
762,760
-376,359
| -33% | -$34.6M |
|
16
Vericel Corp
VCEL
$2.06B
| $61.4M | 2.53% |
1,950,989
-861,020
| -31% | -$30.9M |
|
17
Alarm.com
ALRM
$2.77B
| $59.8M | 2.47% |
1,127,126
-576,431
| -34% | -$32.2M |
|
18
Q2 Holdings
QTWO
$3.87B
| $58.1M | 2.4% |
803,197
-350,451
| -30% | -$28.8M |
|
19
Bio-Techne
TECH
$11.4B
| $57.6M | 2.38% |
1,035,930
-537,673
| -34% | -$28.8M |
|
20
Shopify
SHOP
$187B
| $56.3M | 2.32% |
379,136
-36,640
| -9% | -$4.97M |
|
21
Mercado Libre
MELI
$100B
| $54M | 2.23% |
23,118
-1,244
| -5% | -$2.99M |
|
22
Agilysys
AGYS
$3.14B
| $50.7M | 2.09% |
481,667
-163,516
| -25% | -$18.1M |
|
23
nCino
NCNO
$2.44B
| $45.7M | 1.88% |
1,684,116
-375,759
| -18% | -$11M |
|
|
CWAN
24
DELISTED
Clearwater Analytics
CWAN
| $45.2M | 1.86% |
2,510,792
-688,904
| -22% | -$14M |
|
25
Workiva
WK
$4.17B
| $39.7M | 1.64% |
461,360
-240,647
| -34% | -$18.1M |
|
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Brown Capital Management's Q3 2025 Portfolio in Review
As of Q3 2025, Brown Capital Management held 87 positions worth $2.43B, down 29% from $3.44B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Brown Capital Management withdrew a net $1.01B in Q3 2025, closing 33 positions and reducing 46 holdings. Its most notable exit was Ansys, an estimated $99.8M position sold in full.
By sector, the portfolio is most concentrated in Technology at 61% of assets, down from 63% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Brown Capital Management opened a new position in Corcept Therapeutics worth $20M.
- Brown Capital Management's largest Q3 2025 buy was Corcept Therapeutics: 240,047 shares worth $20M.
- Brown Capital Management added most to Badger Meter in Q3 2025, an estimated $9.06M increase.
- Brown Capital Management's biggest Q3 2025 reduction was CyberArk, cutting an estimated $80.1M.
- Brown Capital Management fully exited Ansys in Q3 2025, selling an estimated $99.8M.
- Brown Capital Management's ten largest holdings make up 44% of its $2.43B portfolio in Q3 2025.
- Brown Capital Management opened 4 new positions and closed 33 in Q3 2025.
- Brown Capital Management's portfolio value fell 29% quarter-over-quarter to $2.43B.
Based on Brown Capital Management's 13F filing for Q3 2025, filed 4 Nov 2025.