Brown Advisory Global Leaders Fund | |||||||
Schedule of Investments | |||||||
September 30, 2022 (Unaudited) | |||||||
Shares | Security Description | Value $ | |||||
Common Stocks - 96.8% | |||||||
Brazil - 2.4% | |||||||
10,442,024 | B3 S.A. - Brasil Bolsa Balcao | 25,454,896 | |||||
China - 5.2% | |||||||
3,618,944 | AIA Group, Ltd. | 30,130,992 | |||||
754,180 | Tencent Holdings, Ltd. | 25,473,424 | |||||
55,604,416 | |||||||
Denmark - 1.6% | |||||||
166,615 | Coloplast A/S | 16,932,139 | |||||
France - 3.3% | |||||||
388,819 | Safran S.A. | 35,378,411 | |||||
Germany - 6.3% | |||||||
513,701 | CTS Eventim AG & Co. KGaA* | 21,134,552 | |||||
282,430 | Deutsche Boerse AG | 46,297,657 | |||||
67,432,209 | |||||||
India - 3.6% | |||||||
2,191,003 | HDFC Bank, Ltd. | 37,960,217 | |||||
Indonesia - 3.2% | |||||||
117,968,364 | Bank Rakyat Indonesia Persero | 34,526,115 | |||||
Netherlands - 5.6% | |||||||
55,517 | ASML Holding NV ADR | 23,058,986 | |||||
374,961 | Wolters Kluwer NV | 36,511,168 | |||||
59,570,154 | |||||||
Sweden - 2.0% | |||||||
2,498,373 | Atlas Copco AB | 20,709,045 | |||||
Switzerland - 3.7% | |||||||
121,553 | Roche Holding AG | 39,569,485 | |||||
Taiwan - 2.6% | |||||||
397,130 | Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 27,227,232 | |||||
United Kingdom - 4.5% | |||||||
1,100,778 | Unilever PLC | 48,367,806 | |||||
United States - 52.8% | |||||||
Communication Services - 4.8% | |||||||
529,071 | Alphabet, Inc. - Class C* | 50,870,177 | |||||
Consumer Discretionary - 4.5% | |||||||
9,442 | Booking Holdings, Inc.* | 15,515,189 | |||||
512,530 | TJX Companies, Inc. | 31,838,363 | |||||
47,353,552 | |||||||
Consumer Staples - 2.3% | |||||||
111,130 | Estee Lauder Companies, Inc. | 23,992,967 | |||||
Financials - 6.4% | |||||||
564,142 | Charles Schwab Corp. | 40,544,886 | |||||
114,163 | Moody's Corp. | 27,754,167 | |||||
68,299,053 | |||||||
Health Care - 2.5% | |||||||
322,960 | Edwards Lifesciences Corp.* | 26,686,185 | |||||
Industrials - 3.6% | |||||||
228,178 | Allegion PLC | 20,463,003 | |||||
285,809 | Otis Worldwide Corp. | 18,234,614 | |||||
38,697,617 | |||||||
Information Technology - 26.4% | |||||||
58,160 | Adobe, Inc.* | 16,005,632 | |||||
133,364 | Autodesk, Inc.* | 24,912,395 | |||||
83,138 | Intuit, Inc. | 32,201,010 | |||||
561,603 | Marvell Technology, Inc. | 24,098,385 | |||||
131,795 | MasterCard, Inc. | 37,474,590 | |||||
372,064 | Microsoft Corp. | 86,653,707 | |||||
334,325 | Visa, Inc. | 59,392,836 | |||||
280,738,555 | |||||||
Materials - 2.3% | |||||||
119,898 | Sherwin-Williams Co. | 24,549,116 | |||||
Total United States | 561,187,222 | ||||||
Total Common Stocks (Cost $958,284,790) | 1,029,919,347 | ||||||
Short-Term Investments - 3.3% | |||||||
Money Market Funds - 3.3% | |||||||
34,919,497 | First American Government Obligations Fund - Class Z, 2.74%# | 34,919,497 | |||||
Total Short-Term Investments (Cost $34,919,497) | 34,919,497 | ||||||
Total Investments - 100.1% (Cost $993,204,287) | 1,064,838,844 | ||||||
Liabilities in Excess of Other Assets - (0.1)% | (1,440,493 | ) | |||||
NET ASSETS - 100.0% | $ | 1,063,398,351 | |||||
* Non-Income Producing | |||||||
ADR - American Depositary Receipt | |||||||
# 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, the Fund's investments were categorized as follows: |
Level 1 | Level 2 | Level 3 | ||||||||||
Common Stocks | $ | 636,928,336 | $ | 392,991,011 | $ | - | ||||||
Short-Term Investments | 34,919,497 | - | - | |||||||||
Total Investments | $ | 671,847,833 | $ | 392,991,011 | $ | - |
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. | ||||||||||||