Brown Advisory Sustainable Value Fund | |||||||
Schedule of Investments | |||||||
March 31, 2023 (Unaudited) | |||||||
Shares | Security Description | Value $ | |||||
Common Stocks - 85.1% | |||||||
Communication Services - 10.9% | |||||||
8,203 | Alphabet, Inc. - Class C* | 853,112 | |||||
29,583 | Comcast Corp. | 1,121,492 | |||||
2,780 | Nexstar Media Group, Inc. | 479,995 | |||||
7,080 | T-Mobile US, Inc.* | 1,025,467 | |||||
3,480,066 | |||||||
Consumer Discretionary - 5.8% | |||||||
6,103 | Best Buy Co., Inc. | 477,682 | |||||
4,964 | Expedia Group, Inc.* | 481,657 | |||||
13,397 | Wyndham Hotels & Resorts, Inc. | 908,986 | |||||
1,868,325 | |||||||
Consumer Staples - 5.4% | |||||||
1,724 | Target Corp. | 285,546 | |||||
28,005 | Unilever PLC ADR | 1,454,300 | |||||
1,739,846 | |||||||
Energy - 5.7% | |||||||
27,451 | ChampionX Corp. | 744,746 | |||||
21,709 | Schlumberger NV | 1,065,912 | |||||
1,810,658 | |||||||
Financials - 15.7% | |||||||
1,565 | Ameriprise Financial, Inc. | 479,673 | |||||
5,086 | Assurant, Inc. | 610,676 | |||||
37,012 | Bank of America Corp. | 1,058,543 | |||||
6,180 | Charles Schwab Corp. | 323,708 | |||||
19,436 | Fidelity National Information Services, Inc. | 1,055,958 | |||||
10,575 | KKR & Co., Inc. | 555,399 | |||||
5,801 | Morgan Stanley | 509,328 | |||||
12,044 | Truist Financial Corp. | 410,700 | |||||
5,003,985 | |||||||
Health Care - 16.0% | |||||||
4,186 | AbbVie, Inc. | 667,123 | |||||
1,221 | Bio-Rad Laboratories, Inc.* | 584,883 | |||||
5,965 | Centene Corp.* | 377,048 | |||||
7,554 | CVS Health Corp. | 561,337 | |||||
1,014 | Elevance Health, Inc. | 466,247 | |||||
6,296 | Gilead Sciences, Inc. | 522,379 | |||||
11,038 | Medtronic PLC | 889,884 | |||||
9,932 | Merck & Co., Inc. | 1,056,665 | |||||
5,125,566 | |||||||
Industrials - 11.7% | |||||||
8,780 | Ferguson PLC | 1,174,325 | |||||
3,601 | Lincoln Electric Holdings, Inc. | 608,929 | |||||
7,840 | Masco Corp. | 389,805 | |||||
5,171 | Trane Technologies PLC | 951,360 | |||||
4,498 | Waste Connections, Inc. | 625,537 | |||||
3,749,956 | |||||||
Information Technology - 9.2% | |||||||
3,000 | Applied Materials, Inc. | 368,490 | |||||
19,580 | Cisco Systems, Inc. | 1,023,545 | |||||
7,940 | Cognizant Technology Solutions Corp. | 483,784 | |||||
7,940 | Micron Technology, Inc. | 479,100 | |||||
3,069 | NXP Semiconductors NV | 572,291 | |||||
2,927,210 | |||||||
Real Estate - 1.7% | |||||||
7,255 | CBRE Group, Inc.* | 528,237 | |||||
Utilities - 3.0% | |||||||
12,137 | Constellation Energy Corp. | 952,755 | |||||
Total Common Stocks (Cost $27,582,767) | 27,186,604 | ||||||
Short-Term Investments - 16.2% | |||||||
Money Market Funds - 16.2% | |||||||
5,171,304 | First American Government Obligations Fund - Class Z, 4.61%# | 5,171,304 | |||||
Total Short-Term Investments (Cost $5,171,304) | 5,171,304 | ||||||
Total Investments - 101.3% (Cost $32,754,071) | 32,357,908 | ||||||
Liabilities in Excess of Other Assets - (1.3)% | (418,909 | ) | |||||
NET ASSETS - 100.0% | $ | 31,938,999 |
* 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, all of the Fund's investments were categorized as Level 1 securities. | ||||
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. | ||||