# BROWN ADVISORY INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1345929. Source: https://holderbook.com/funds/1345929-brown-advisory-inc/

- Reported value: $64.6B
- Positions: 1,447
- Weight of the ten largest: 32.3%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.2B | 8,508,949 | 4.9% | 31 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $2.9B | 5,976,344 | 4.4% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.8B | 7,878,773 | 4.3% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $2.4B | 7,101,455 | 3.8% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.1B | 10,292,967 | 3.2% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.8B | 3,442,644 | 2.7% | 31 |
| ADVISORS INNER CIRCLE FD III | [BAFE](https://holderbook.com/stocks/BAFE/) | $1.6B | 55,553,093 | 2.5% | 7 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.5B | 2,013,013 | 2.3% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.5B | 6,176,448 | 2.3% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.2B | 4,033,311 | 1.8% | 31 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $892.9M | 2,389,115 | 1.4% | 20 |
| TEMA ETF TRUST | [DSPY](https://holderbook.com/stocks/DSPY/) | $865.4M | 13,147,422 | 1.3% | 4 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $859.9M | 9,318,993 | 1.3% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $800.8M | 1,072,377 | 1.2% | 31 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $798.5M | 2,157,852 | 1.2% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $711.1M | 1,989,774 | 1.1% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $684.5M | 1,812,009 | 1.1% | 31 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $666.3M | 7,365,987 | 1.0% | 31 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $621.7M | 312,480 | 1.0% | 25 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $552.4M | 1,854,207 | 0.9% | 21 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $522.1M | 2,929,221 | 0.8% | 31 |
| EQUIFAX INC | [EFX](https://holderbook.com/stocks/EFX/) | $521.9M | 3,287,984 | 0.8% | 31 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $500.7M | 2,628,487 | 0.8% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $493.9M | 987,024 | 0.8% | 31 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $483.7M | 2,214,156 | 0.7% | 31 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $463.2M | 5,046,956 | 0.7% | 31 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $452.7M | 1,907,561 | 0.7% | 8 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $448.8M | 977,422 | 0.7% | 10 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $436.2M | 136,481 | 0.7% | 23 |
| ADVISORS INNER CIRCLE FD III | [BASG](https://holderbook.com/stocks/BASG/) | $435.4M | 16,344,432 | 0.7% | 5 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $432.4M | 767,623 | 0.7% | 31 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $423.4M | 1,064,661 | 0.7% | 31 |
| 2023 ETF SERIES TRUST | [EAGL](https://holderbook.com/stocks/EAGL/) | $414.5M | 12,883,772 | 0.6% | 8 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $410.8M | 5,600,304 | 0.6% | 25 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $401.7M | 1,227,148 | 0.6% | 31 |
| ADVISORS INNER CIRCLE FD III | [BASV](https://holderbook.com/stocks/BASV/) | $389.5M | 12,642,157 | 0.6% | 5 |
| WEST PHARMACEUTICAL SVSC INC | [WST](https://holderbook.com/stocks/WST/) | $386.0M | 1,075,309 | 0.6% | 31 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $381.7M | 224,874 | 0.6% | 25 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $361.3M | 1,059,527 | 0.6% | 31 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $347.7M | 4,819,072 | 0.5% | 27 |
| SNOWFLAKE INC | [SNOW](https://holderbook.com/stocks/SNOW/) | $334.9M | 1,315,875 | 0.5% | 22 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $333.9M | 486,164 | 0.5% | 31 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $312.5M | 1,839,602 | 0.5% | 7 |
| DATADOG INC | [DDOG](https://holderbook.com/stocks/DDOG/) | $312.2M | 1,199,183 | 0.5% | 28 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $305.2M | 1,794,142 | 0.5% | 31 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $291.8M | 11,296,194 | 0.5% | 31 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $290.3M | 256,288 | 0.4% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $288.2M | 693,381 | 0.4% | 31 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $283.1M | 754,241 | 0.4% | 23 |
| GALLAGHER ARTHUR J & CO | [AJG](https://holderbook.com/stocks/AJG/) | $282.4M | 1,229,898 | 0.4% | 31 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $275.7M | 1,926,259 | 0.4% | 21 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $263.8M | 1,778,922 | 0.4% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $261.1M | 1,028,187 | 0.4% | 31 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $258.4M | 860,024 | 0.4% | 31 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $254.0M | 1,523,777 | 0.4% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $253.5M | 3,026,677 | 0.4% | 31 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $251.9M | 834,870 | 0.4% | 25 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $249.8M | 1,826,916 | 0.4% | 31 |
| MONOLITHIC PWR SYS INC | [MPWR](https://holderbook.com/stocks/MPWR/) | $249.5M | 180,434 | 0.4% | 31 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $248.3M | 891,145 | 0.4% | 31 |
| ALLEGION PLC | [ALLE](https://holderbook.com/stocks/ALLE/) | $247.7M | 1,763,372 | 0.4% | 18 |
| TIMKEN CO | [TKR](https://holderbook.com/stocks/TKR/) | $247.5M | 1,703,339 | 0.4% | 31 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $239.0M | 1,925,013 | 0.4% | 31 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $232.7M | 983,479 | 0.4% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $232.3M | 248,300 | 0.4% | 31 |
| SAMSARA INC | [IOT](https://holderbook.com/stocks/IOT/) | $230.6M | 7,109,824 | 0.4% | 4 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $220.1M | 1,927,406 | 0.3% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $219.1M | 870,702 | 0.3% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $209.2M | 3,670,790 | 0.3% | 31 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $208.5M | 798,805 | 0.3% | 31 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $206.1M | 532,916 | 0.3% | 31 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $202.9M | 510,835 | 0.3% | 31 |
| OCEANEERING INTL INC | [OII](https://holderbook.com/stocks/OII/) | $201.3M | 4,967,307 | 0.3% | 17 |
| ISHARES TR | [IJT](https://holderbook.com/stocks/IJT/) | $200.0M | 1,119,852 | 0.3% | 24 |
| ARES MANAGEMENT CORPORATION | [ARES](https://holderbook.com/stocks/ARES/) | $180.9M | 1,625,481 | 0.3% | 31 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $177.1M | 730,583 | 0.3% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $175.5M | 1,365,877 | 0.3% | 31 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $173.6M | 815,684 | 0.3% | 31 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $160.2M | 1,057,151 | 0.2% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $156.0M | 994,218 | 0.2% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $154.0M | 1,049,952 | 0.2% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $146.8M | 196 | 0.2% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $145.3M | 121,140 | 0.2% | 31 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $145.0M | 2,701,554 | 0.2% | 31 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $144.0M | 1,738,020 | 0.2% | 31 |
| ISHARES TR | [GOVT](https://holderbook.com/stocks/GOVT/) | $137.1M | 6,018,417 | 0.2% | 15 |
| BRIGHTSPRING HEALTH SVCS INC | [BTSG](https://holderbook.com/stocks/BTSG/) | $136.6M | 1,958,436 | 0.2% | 4 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $134.6M | 1,144,014 | 0.2% | 28 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $131.9M | 598,190 | 0.2% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $131.7M | 1,121,178 | 0.2% | 31 |
| MONDELEZ INTL INC | [MDLZ](https://holderbook.com/stocks/MDLZ/) | $128.0M | 2,213,612 | 0.2% | 31 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $124.2M | 791,591 | 0.2% | 31 |
| HEALTHEQUITY INC | [HQY](https://holderbook.com/stocks/HQY/) | $124.0M | 1,372,624 | 0.2% | 31 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $120.4M | 1,689,996 | 0.2% | 31 |
| BROOKFIELD INFRASTRUCTURE CO | [BIPC](https://holderbook.com/stocks/BIPC/) | $120.0M | 3,112,566 | 0.2% | 6 |
| AMER SPORTS INC | [AS](https://holderbook.com/stocks/AS/) | $115.2M | 3,404,839 | 0.2% | 10 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $113.5M | 154,089 | 0.2% | 31 |
| ESTABLISHMENT LABS HLDGS INC | [ESTA](https://holderbook.com/stocks/ESTA/) | $112.7M | 1,313,148 | 0.2% | 27 |
| ARCH CAP GROUP LTD | [ACGL](https://holderbook.com/stocks/ACGL/) | $111.9M | 1,153,081 | 0.2% | 31 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $111.7M | 934,244 | 0.2% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +14.3% | +14.8% | -0.5% | 100% |
| Q1 2026 | -8.1% | -4.6% | -3.5% | 99% |
| Q4 2025 | -0.0% | +2.4% | -2.4% | 99% |
| Q3 2025 | +3.3% | +7.8% | -4.5% | 99% |
| Q2 2025 | +12.3% | +10.5% | +1.8% | 100% |
| Q1 2025 | -6.6% | -4.6% | -2.0% | 100% |
| Q4 2024 | +1.5% | +2.1% | -0.6% | 100% |
| Q3 2024 | +4.3% | +5.4% | -1.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $64.6B | 1,447 |
| Q1 2026 | $60.9B | 1,393 |
| Q4 2025 | $71.7B | 1,381 |
| Q3 2025 | $76.8B | 1,379 |
| Q2 2025 | $76.0B | 1,357 |
| Q1 2025 | $70.0B | 1,322 |
| Q4 2024 | $78.8B | 1,331 |
| Q3 2024 | $79.6B | 1,258 |
| Q2 2024 | $76.5B | 1,224 |
| Q1 2024 | $74.8B | 1,243 |
| Q4 2023 | $71.1B | 1,216 |
| Q3 2023 | $60.9B | 1,188 |