Brown Advisory Small-Cap Growth Fund | |||||||
Schedule of Investments | |||||||
September 30, 2022 (Unaudited) | |||||||
Shares | Security Description | Value $ | |||||
Common Stocks - 88.7% | |||||||
Communication Services - 3.2% | |||||||
3,657,262 | Angi, Inc.* | 10,788,923 | |||||
378,179 | Cogent Communications Holdings, Inc. | 19,725,817 | |||||
329,770 | Pinterest, Inc.* | 7,683,641 | |||||
130,826 | Take-Two Interactive Software, Inc.* | 14,260,034 | |||||
882,684 | Vizio Holding Corp.* | 7,714,658 | |||||
60,173,073 | |||||||
Consumer Discretionary - 11.8% | |||||||
520,795 | Bright Horizons Family Solutions, Inc.* | 30,023,832 | |||||
218,685 | Choice Hotels International, Inc. | 23,950,381 | |||||
175,795 | Churchill Downs, Inc. | 32,372,649 | |||||
1,529,261 | Clarus Corp. | 20,599,146 | |||||
348,293 | First Watch Restaurant Group, Inc.* | 5,043,283 | |||||
904,556 | Leslie's, Inc.* | 13,306,019 | |||||
1,031,002 | MakeMyTrip, Ltd.* | 31,651,761 | |||||
2,104,477 | Mister Car Wash, Inc.* | 18,056,413 | |||||
979,487 | Terminix Global Holdings, Inc.* | 37,504,557 | |||||
80,502 | TopBuild Corp.* | 13,265,119 | |||||
225,773,160 | |||||||
Consumer Staples - 3.4% | |||||||
234,990 | Casey's General Stores, Inc. | 47,590,175 | |||||
544,601 | Simply Good Foods Co.* | 17,421,786 | |||||
65,011,961 | |||||||
Energy - 3.3% | |||||||
564,131 | Cactus, Inc. | 21,679,554 | |||||
1,223,754 | ChampionX Corp. | 23,948,866 | |||||
201,253 | Denbury, Inc.* | 17,360,084 | |||||
62,988,504 | |||||||
Financials - 2.8% | |||||||
790,909 | Prosperity Bancshares, Inc. | 52,737,812 | |||||
Health Care - 22.5% | |||||||
1,327,988 | Abcam PLC ADR* | 19,906,540 | |||||
1,123,462 | agilon health, Inc.* | 26,311,480 | |||||
1,171,633 | Alignment Healthcare, Inc.* | 13,872,135 | |||||
117,739 | Arvinas, Inc.* | 5,238,208 | |||||
182,017 | Ascendis Pharma A/S ADR* | 18,795,075 | |||||
223,589 | Biohaven Pharmaceutical Holding Co., Ltd.* | 33,799,949 | |||||
298,040 | Blueprint Medicines Corp.* | 19,637,856 | |||||
495,771 | Bruker Corp. | 26,305,609 | |||||
42,402 | Charles River Laboratories International, Inc.* | 8,344,714 | |||||
476,000 | Encompass Health Corp. | 21,529,480 | |||||
526,645 | Establishment Labs Holdings, Inc.* | 28,760,083 | |||||
151,457 | Fate Therapeutics, Inc.* | 3,394,151 | |||||
594,453 | HealthEquity, Inc.* | 39,929,408 | |||||
322,118 | Inari Medical, Inc.* | 23,398,652 | |||||
71,634 | Karuna Therapeutics, Inc.* | 16,112,636 | |||||
1,910,047 | NeoGenomics, Inc.* | 16,445,505 | |||||
323,797 | Neurocrine Biosciences, Inc.* | 34,390,479 | |||||
189,244 | Nevro Corp.* | 8,818,770 | |||||
461,448 | OrthoPediatrics Corp.* | 21,291,211 | |||||
1,130,811 | SI-BONE, Inc.* | 19,743,960 | |||||
115,795 | Teleflex, Inc. | 23,328,061 | |||||
429,353,962 | |||||||
Industrials - 13.5% | |||||||
568,553 | AZEK Co., Inc.* | 9,449,351 | |||||
115,138 | Casella Waste Systems, Inc.* | 8,795,392 | |||||
185,888 | FTI Consulting, Inc.* | 30,803,501 | |||||
1,364,277 | IAA, Inc.* | 43,452,222 | |||||
30,786 | IDEX Corp. | 6,152,582 | |||||
210,954 | John Bean Technologies Corp. | 18,142,044 | |||||
200,234 | Knight-Swift Transportation Holdings, Inc. | 9,797,450 | |||||
227,222 | MSA Safety, Inc. | 24,830,820 | |||||
62,394 | SiteOne Landscape Supply, Inc.* | 6,497,711 | |||||
85,533 | Valmont Industries, Inc. | 22,975,874 | |||||
271,932 | Waste Connections, Inc. | 36,746,171 | |||||
194,486 | Woodward, Inc. | 15,609,446 | |||||
971,520 | Zurn Elkay Water Solutions Corp. | 23,802,240 | |||||
257,054,804 | |||||||
Information Technology - 25.1% | |||||||
1,852,733 | Accolade, Inc.* | 21,158,211 | |||||
559,819 | Azenta, Inc. | 23,993,842 | |||||
432,277 | Bentley Systems, Inc. | 13,223,353 | |||||
463,470 | BlackLine, Inc.* | 27,761,853 | |||||
816,037 | Dynatrace, Inc.* | 28,406,248 | |||||
366,775 | Entegris, Inc. | 30,449,660 | |||||
417,654 | Envestnet, Inc.* | 18,543,838 | |||||
1,813,870 | EVO Payments, Inc.* | 60,401,871 | |||||
1,675,506 | Genpact, Ltd. | 73,336,898 | |||||
3,572,533 | Infinera Corp.* | 17,291,060 | |||||
207,133 | Lattice Semiconductor Corp.* | 10,193,015 | |||||
91,879 | Littelfuse, Inc. | 18,255,438 | |||||
906,204 | Phreesia, Inc.* | 23,090,078 | |||||
332,090 | Power Integrations, Inc. | 21,360,029 | |||||
673,845 | PROS Holdings, Inc.* | 16,643,971 | |||||
935,788 | Sumo Logic, Inc.* | 7,018,410 | |||||
153,696 | WEX, Inc.* | 19,510,170 | |||||
488,757 | Workiva, Inc.* | 38,025,295 | |||||
1,441,391 | Zuora, Inc.* | 10,637,466 | |||||
479,300,706 | |||||||
Materials - 3.1% | |||||||
538,848 | HB Fuller Co. | 32,384,765 | |||||
185,042 | Quaker Houghton | 26,716,364 | |||||
59,101,129 | |||||||
Total Common Stocks (Cost $1,675,000,253) | 1,691,495,111 | ||||||
Private Placements - 0.1% | |||||||
19,200 | StepStone VC Global Partners IV-B, L.P.*^† | 1,420,899 | |||||
91,769 | StepStone VC Global Partners V-B, L.P.*~† | 128,652 | |||||
Total Private Placements (Cost $–) | 1,549,551 | ||||||
Real Estate Investment Trusts - 1.8% | |||||||
541,211 | DigitalBridge Group, Inc. | 6,770,550 | |||||
193,394 | EastGroup Properties, Inc. | 27,914,490 | |||||
Total Real Estate Investment Trusts (Cost $35,245,206) | 34,685,040 | ||||||
Exchange Traded Funds - 1.2% | |||||||
295,772 | SPDR S&P Biotech Exchange Traded Fund* | 23,460,635 | |||||
Total Exchange Traded Funds (Cost $23,941,090) | 23,460,635 | ||||||
Short-Term Investments - 8.4% | |||||||
Money Market Funds - 8.4% | |||||||
160,954,406 | First American Government Obligations Fund - Class Z, 2.74%# | 160,954,406 | |||||
Total Short-Term Investments (Cost $160,954,406) | 160,954,406 | ||||||
Total Investments - 100.2% (Cost $1,895,140,955) | 1,912,144,743 | ||||||
Liabilities in Excess of Other Assets - (0.2)% | (4,586,318 | ) | |||||
NET ASSETS - 100.0% | $ | 1,907,558,425 | |||||
* Non-Income Producing | |||||||
ADR - American Depositary Receipt | |||||||
^ Security is exempt from registration under Regulation D of the Securities Act of 1933. Security was acquired from February 2008 to April 2018 as part of a $2,000,000 capital commitment. As of the date of this report, $1,920,000 of the capital commitment has been fulfilled by the Fund. | |||||||
~ Security is exempt from registration under Regulation D of the Securities Act of 1933. Security was acquired from October 2012 to August 2018 as part of a $100,000 capital commitment. As of the date of this report, $91,000 of the capital commitment has been fulfilled by the Fund. | |||||||
† These securities are being fair valued, using significant unobservable inputs (Level 3), under the supervision of the Board of Trustees. Further, they may not be sold by the Fund. Total unfunded capital commitments related to these holdings are immaterial and total $89,000, or 0.0% of the Fund’s net assets as of the date of this report. | |||||||
# Annualized seven-day yield as of the date of this report. | |||||||
Various inputs may be used to determine the value of the Fund's investments. These inputs are summarized in three broad levels. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. | |||||||
Level 1 - Quoted prices in active markets for identical securities. | |||||||
Level 2 - Evaluated price based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment spreads, credit risk, etc.). | |||||||
Level 3 - Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). | |||||||
As of the date of this report, all of the Fund's investments, except for the Private Placements, were categorized as Level 1 securities. The Private Placements are being fair valued using significant unobservable inputs and were categorized as Level 3 securities. Refer to the Fund's annual report for additional information regarding the valuation of the Private Placements. | |||||||
The Global Industry Classification Standard (GICS®) was developed by and is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC ('S&P'). (GICS®) is a service mark of MSCI, Inc. and S&P and has been licensed for use by the Fund's Administrator, U.S. Bancorp Fund Services, LLC. | |||||||
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NPORT-P Filing
Brown Advisory Funds NPORT-PBrown Advisory Small-Cap Growth Fund (Sep 2022 report)
Filed: 28 Nov 22, 4:41pm