# Brown Financial Advisory

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1843853. Source: https://holderbook.com/funds/1843853-brown-financial-advisory/

- Reported value: $239.4M
- Positions: 49
- Weight of the ten largest: 91.2%
- Filed: 2026-07-28

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 |
|---|---|---|---|---|---|
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $101.2M | 1,151,975 | 42.3% | 23 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $44.8M | 147,831 | 18.7% | 23 |
| DIMENSIONAL ETF TRUST | [DEXC](https://holderbook.com/stocks/DEXC/) | $35.5M | 429,629 | 14.8% | 6 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $11.1M | 27,165 | 4.6% | 23 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $10.4M | 206,062 | 4.3% | 23 |
| VANGUARD SCOTTSDALE FDS | [VONE](https://holderbook.com/stocks/VONE/) | $7.2M | 21,172 | 3.0% | 23 |
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $2.3M | 25,603 | 1.0% | 11 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $2.1M | 4,135 | 0.9% | 23 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $2.1M | 16,563 | 0.9% | 23 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.7M | 2,236 | 0.7% | 23 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $1.5M | 28,757 | 0.6% | 23 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.2M | 4,253 | 0.5% | 13 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.1M | 3,014 | 0.5% | 7 |
| SPDR SERIES TRUST | [SPHY](https://holderbook.com/stocks/SPHY/) | $1.1M | 45,996 | 0.5% | 11 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $1.1M | 15,092 | 0.4% | 23 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $957.2K | 3,949 | 0.4% | 23 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $831.3K | 3,303 | 0.3% | 16 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $801.9K | 5,074 | 0.3% | 6 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $777.8K | 2,102 | 0.3% | 23 |
| SPDR SERIES TRUST | [SPSM](https://holderbook.com/stocks/SPSM/) | $653.5K | 11,331 | 0.3% | 23 |
| SENSIENT TECHNOLOGIES CORP | [SXT](https://holderbook.com/stocks/SXT/) | $561.1K | 4,551 | 0.2% | 14 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $555.5K | 744 | 0.2% | 23 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $552.5K | 2,318 | 0.2% | 6 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $520.4K | 1,732 | 0.2% | 23 |
| COCA COLA CONS INC | [COKE](https://holderbook.com/stocks/COKE/) | $492.6K | 2,580 | 0.2% | 1 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $487.5K | 5,054 | 0.2% | 6 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $487.5K | 2,436 | 0.2% | 6 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $476.9K | 7,990 | 0.2% | 2 |
| SCHWAB STRATEGIC TR | [FNDX](https://holderbook.com/stocks/FNDX/) | $458.2K | 14,733 | 0.2% | 6 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $436.7K | 410 | 0.2% | 4 |
| INVESCO EXCH TRD SLF IDX FD | [BSCR](https://holderbook.com/stocks/BSCR/) | $422.7K | 21,549 | 0.2% | 6 |
| INVESCO EXCH TRD SLF IDX FD | [BSCS](https://holderbook.com/stocks/BSCS/) | $422.2K | 20,734 | 0.2% | 6 |
| INVESCO EXCH TRD SLF IDX FD | [BSCT](https://holderbook.com/stocks/BSCT/) | $422.2K | 22,730 | 0.2% | 6 |
| SPDR SERIES TRUST | [SPAB](https://holderbook.com/stocks/SPAB/) | $402.1K | 15,755 | 0.2% | 11 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $386.8K | 3,415 | 0.2% | 6 |
| LOEWS CORP | [L](https://holderbook.com/stocks/L/) | $382.3K | 3,377 | 0.2% | 13 |
| VANGUARD INDEX FDS | [VXF](https://holderbook.com/stocks/VXF/) | $366.2K | 1,487 | 0.2% | 6 |
| VANGUARD SCOTTSDALE FDS | [VTWO](https://holderbook.com/stocks/VTWO/) | $357.8K | 2,947 | 0.1% | 23 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $357.6K | 3,706 | 0.1% | 15 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $347.7K | 986 | 0.1% | 6 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $281.8K | 2,945 | 0.1% | 8 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $281.1K | 859 | 0.1% | 6 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $271.0K | 767 | 0.1% | 3 |
| VANGUARD INDEX FDS | [VOE](https://holderbook.com/stocks/VOE/) | $252.4K | 1,277 | 0.1% | 5 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $235.0K | 657 | 0.1% | 1 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $229.8K | 335 | 0.1% | 1 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $222.1K | 1,624 | 0.1% | 2 |
| SPDR SERIES TRUST | [QUS](https://holderbook.com/stocks/QUS/) | $215.9K | 1,155 | 0.1% | 6 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $210.4K | 2,513 | 0.1% | 1 |

## 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 | +15.8% | +14.8% | +1.0% | 100% |
| Q1 2026 | -1.5% | -4.6% | +3.1% | 100% |
| Q4 2025 | +2.4% | +2.4% | +0.1% | 100% |
| Q3 2025 | +6.8% | +7.8% | -1.0% | 100% |
| Q2 2025 | +9.0% | +10.5% | -1.4% | 99% |
| Q1 2025 | -2.8% | -4.6% | +1.8% | 100% |
| Q4 2024 | -1.0% | +2.1% | -3.1% | 100% |
| Q3 2024 | +7.6% | +5.4% | +2.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $239.4M | 49 |
| Q1 2026 | $201.6M | 49 |
| Q4 2025 | $197.9M | 56 |
| Q3 2025 | $191.0M | 55 |
| Q2 2025 | $181.2M | 55 |
| Q1 2025 | $160.1M | 51 |
| Q4 2024 | $140.8M | 34 |
| Q3 2024 | $141.3M | 36 |
| Q2 2024 | $130.1M | 32 |
| Q1 2024 | $128.7M | 32 |
| Q4 2023 | $122.8M | 32 |
| Q3 2023 | $112.8M | 29 |