BROWN ADVISORY INC

BALTIMORE, MD · CIK 1345929 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityBROWN ADVISORY INCORPORATED (US)

$64.6bn reported value +6.1% vs Q1 2026

1,447positions

32.3%in top 10

143 new 507 added 622 reduced 89 sold out vs Q1 2026

This report includes the holdings of 6 other managers that share the investment decisions:

New York Life Investment Management LLC – files its own report too; $35.8m of shares are in both
BROWN INVESTMENT ADVISORY & TRUST CO – reports through this filing
Brown Advisory Investment Solutions Group LLC – reports through this filing
Brown Advisory LLC – reports through this filing
Brown Advisory Ltd – reports through this filing
Signature Financial Management, Inc. – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	8,508,949	$3.2bn4.92%	4.92%	Reduced -1.2m	-1,208,876 -12.4%
2	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	5,976,344	$2.9bn4.42%	4.42%	Reduced -164.5k	-164,451 -2.7%
3	ALPHABET INC CAP STK CL C GOOG	GOOG	7,878,773	$2.8bn4.31%	4.31%	Added +1.1m	+1,114,433 16.5%
4	VISA INC COM CL A V	V	7,101,455	$2.4bn3.77%	3.77%	Reduced -493.9k	-493,935 -6.5%
5	NVIDIA CORPORATION COM NVDA	NVDA	10,292,967	$2.1bn3.19%	3.19%	Added +552.3k	+552,305 5.7%
6	MASTERCARD INCORPORATED CL A MA	MA	3,442,644	$1.8bn2.74%	2.74%	Reduced -47.5k	-47,458 -1.4%
7	ADVISORS INNER CIRCLE FD III BROWN ADV FLEXIB BAFE	BAFE	55,553,093	$1.6bn2.51%	2.51%	Reduced -647.1k	-647,105 -1.1%
8	ISHARES TR CORE S&P500 ETF IVV	IVV	2,013,013	$1.5bn2.33%	2.33%	Added +291.8k	+291,767 16.9%
9	AMAZON COM INC COM AMZN	AMZN	6,176,448	$1.5bn2.28%	2.28%	Reduced -1.5m	-1,468,016 -19.2%
10	APPLE INC COM AAPL	AAPL	4,033,311	$1.2bn1.81%	1.81%	Added +19.1k	+19,054 0.5%
11	GE AEROSPACE COM NEW GE	GE	2,389,115	$892.9m1.38%	1.38%	Reduced -234.9k	-234,886 -8.9%
12	TEMA ETF TRUST S&P 500 HI WE ET DSPY	DSPY	13,147,422	$865.4m1.34%	1.34%	Added +2.0k	+1,990 0.0%
13	SCHWAB CHARLES CORP COM SCHW	SCHW	9,318,993	$859.9m1.33%	1.33%	Added +176.9k	+176,928 1.9%
14	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,072,377	$800.8m1.24%	1.24%	Added +103.6k	+103,609 10.7%
15	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	2,157,852	$798.5m1.24%	1.24%	Reduced -51.2k	-51,232 -2.3%
16	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,989,774	$711.1m1.10%	1.10%	Reduced -78.6k	-78,645 -3.8%
17	BROADCOM INC COM AVGO	AVGO	1,812,009	$684.5m1.06%	1.06%	Reduced -613.3k	-613,308 -25.3%
18	EDWARDS LIFESCIENCES CORP COM EW	EW	7,365,987	$666.3m1.03%	1.03%	Added +336.5k	+336,475 4.8%
19	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	312,480	$621.7m0.96%	0.96%	Reduced -18.1k	-18,085 -5.5%
20	MARVELL TECHNOLOGY INC COM MRVL	MRVL	1,854,207	$552.4m0.86%	0.86%	Reduced -3.1m	-3,119,820 -62.7%
21	BOOKING HOLDINGS INC COM BKNG	BKNG	2,929,221	$522.1m0.81%	0.81%	Reduced -80.1k	-80,079 -2.7%
22	EQUIFAX INC COM EFX	EFX	3,287,984	$521.9m0.81%	0.81%	Reduced -360.8k	-360,835 -9.9%
23	DANAHER CORPORATION COM DHR	DHR	2,628,487	$500.7m0.78%	0.78%	Reduced -298.1k	-298,149 -10.2%
24	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	987,024	$493.9m0.76%	0.76%	Reduced -25.5k	-25,488 -2.5%
25	PROGRESSIVE CORP COM PGR	PGR	2,214,156	$483.7m0.75%	0.75%	Added +664.5k	+664,472 42.9%
26	KKR & CO INC COM KKR	KKR	5,046,956	$463.2m0.72%	0.72%	Reduced -986.0k	-986,008 -16.3%
27	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	1,907,561	$452.7m0.70%	0.70%	Reduced -275.8k	-275,846 -12.6%
28	SPOTIFY TECHNOLOGY S A SHS SPOT	SPOT	977,422	$448.8m0.70%	0.70%	Added +45.3k	+45,271 4.9%
29	AUTOZONE INC COM AZO	AZO	136,481	$436.2m0.68%	0.68%	Added +12.3k	+12,280 9.9%
30	ADVISORS INNER CIRCLE FD III BROWN ADVISORY BASG	BASG	16,344,432	$435.4m0.67%	0.67%	Reduced -701.0k	-701,026 -4.1%
31	META PLATFORMS INC CL A META	META	767,623	$432.4m0.67%	0.67%	Reduced -99.1k	-99,096 -11.4%
32	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	1,064,661	$423.4m0.66%	0.66%	Reduced -204.3k	-204,305 -16.1%
33	2023 ETF SERIES TRUST EAGLE CAPITAL SE EAGL	EAGL	12,883,772	$414.5m0.64%	0.64%	Added +1.3m	+1,276,713 11.0%
34	CARRIER GLOBAL CORPORATION COM CARR	CARR	5,600,304	$410.8m0.64%	0.64%	Reduced -2.5m	-2,493,401 -30.8%
35	JPMORGAN CHASE & CO COM JPM	JPM	1,227,148	$401.7m0.62%	0.62%	Added +7.1k	+7,143 0.6%
36	ADVISORS INNER CIRCLE FD III BROWN ADVISORY BASV	BASV	12,642,157	$389.5m0.60%	0.60%	Added +822.0k	+821,984 7.0%
37	WEST PHARMACEUTICAL SVSC INC COM WST	WST	1,075,309	$386.0m0.60%	0.60%	Reduced -265.6k	-265,568 -19.8%
38	MERCADOLIBRE INC COM MELI	MELI	224,874	$381.7m0.59%	0.59%	Reduced -15.1k	-15,145 -6.3%
39	PALO ALTO NETWORKS INC COM PANW	PANW	1,059,527	$361.3m0.56%	0.56%	Reduced -688.3k	-688,330 -39.4%
40	UBER TECHNOLOGIES INC COM UBER	UBER	4,819,072	$347.7m0.54%	0.54%	Reduced -1.5m	-1,516,105 -23.9%
41	SNOWFLAKE INC CL A SNOW	SNOW	1,315,875	$334.9m0.52%	0.52%	Reduced -319.1k	-319,063 -19.5%
42	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	486,164	$333.9m0.52%	0.52%	Added +34.0k	+34,043 7.5%
43	ARISTA NETWORKS INC COM SHS ANET	ANET	1,839,602	$312.5m0.48%	0.48%	Added +1.8m	+1,816,305 7796.3%
44	DATADOG INC CL A COM DDOG	DDOG	1,199,183	$312.2m0.48%	0.48%	Reduced -1.6m	-1,608,250 -57.3%
45	CINTAS CORP COM CTAS	CTAS	1,794,142	$305.2m0.47%	0.47%	Reduced -100.6k	-100,645 -5.3%
46	HDFC BANK LTD SPONSORED ADS HDB	HDB	11,296,194	$291.8m0.45%	0.45%	Added +1.7m	+1,731,704 18.1%
47	UNITED RENTALS INC COM URI	URI	256,288	$290.3m0.45%	0.45%	Reduced -10.5k	-10,515 -3.9%
48	UNITEDHEALTH GROUP INC COM UNH	UNH	693,381	$288.2m0.45%	0.45%	Reduced -28.2k	-28,172 -3.9%
49	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	754,241	$283.1m0.44%	0.44%	Reduced -442.9k	-442,942 -37.0%
50	GALLAGHER ARTHUR J & CO COM AJG	AJG	1,229,898	$282.4m0.44%	0.44%	Reduced -350.4k	-350,409 -22.2%
51	AIRBNB INC COM CL A ABNB	ABNB	1,926,259	$275.7m0.43%	0.43%	Reduced -374.5k	-374,484 -16.3%
52	ISHARES TR CORE S&P SCP ETF IJR	IJR	1,778,922	$263.8m0.41%	0.41%	Added +468.0k	+468,045 35.7%
53	JOHNSON & JOHNSON COM JNJ	JNJ	1,028,187	$261.1m0.40%	0.40%	Added +28.5k	+28,548 2.9%
54	ISHARES TR RUSSELL 2000 ETF IWM	IWM	860,024	$258.4m0.40%	0.40%	Reduced -121.7k	-121,655 -12.4%
55	WASTE CONNECTIONS INC COM WCN	WCN	1,523,777	$254.0m0.39%	0.39%	Reduced -176.6k	-176,600 -10.4%
56	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	3,026,677	$253.5m0.39%	0.39%	Added +156.7k	+156,711 5.5%
57	KLA CORP COM NEW KLAC	KLAC	834,870	$251.9m0.39%	0.39%	Reduced -122.5k	-122,540 -12.8%
58	EXXON MOBIL CORP COM XOM	XOM	1,826,916	$249.8m0.39%	0.39%	Reduced -19.1k	-19,086 -1.0%
59	MONOLITHIC PWR SYS INC COM MPWR	MPWR	180,434	$249.5m0.39%	0.39%	Reduced -199.5k	-199,463 -52.5%
60	ECOLAB INC COM ECL	ECL	891,145	$248.3m0.38%	0.38%	Reduced -193.5k	-193,470 -17.8%
61	ALLEGION PLC ORD SHS ALLE	ALLE	1,763,372	$247.7m0.38%	0.38%	Reduced -179.2k	-179,229 -9.2%
62	TIMKEN CO COM TKR	TKR	1,703,339	$247.5m0.38%	0.38%	Reduced -9.5k	-9,477 -0.6%
63	ISHARES TR RUS 1000 GRW ETF IWF	IWF	1,925,013	$239.0m0.37%	0.37%	Reduced -83.3k	-83,295 -4.2%
64	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	983,479	$232.7m0.36%	0.36%	Reduced -2.9k	-2,851 -0.3%
65	COSTCO WHSL CORP NEW COM COST	COST	248,300	$232.3m0.36%	0.36%	Reduced -69.5k	-69,465 -21.9%
66	SAMSARA INC COM CL A IOT	IOT	7,109,824	$230.6m0.36%	0.36%	Reduced -3.0m	-2,989,069 -29.6%
67	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	1,927,406	$220.1m0.34%	0.34%	Added +436.9k	+436,874 29.3%
68	ABBVIE INC COM ABBV	ABBV	870,702	$219.1m0.34%	0.34%	Reduced -4.0k	-4,029 -0.5%
69	BANK AMERICA CORP COM BAC	BAC	3,670,790	$209.2m0.32%	0.32%	Reduced -87.5k	-87,528 -2.3%
70	INTUIT COM INTU	INTU	798,805	$208.5m0.32%	0.32%	Reduced -326.1k	-326,058 -29.0%
71	ELEVANCE HEALTH INC COM ELV	ELV	532,916	$206.1m0.32%	0.32%	Reduced -7.7k	-7,684 -1.4%
72	ANALOG DEVICES INC COM ADI	ADI	510,835	$202.9m0.31%	0.31%	Reduced -44.4k	-44,357 -8.0%
73	OCEANEERING INTL INC COM OII	OII	4,967,307	$201.3m0.31%	0.31%	Reduced -821.3k	-821,294 -14.2%
74	ISHARES TR S&P SML 600 GWT IJT	IJT	1,119,852	$200.0m0.31%	0.31%	Added +74.4k	+74,385 7.1%
75	ARES MANAGEMENT CORPORATION CL A COM STK ARES	ARES	1,625,481	$180.9m0.28%	0.28%	Reduced -325.8k	-325,783 -16.7%
76	ISHARES TR RUS 1000 VAL ETF IWD	IWD	730,583	$177.1m0.27%	0.27%	Reduced -8.3k	-8,257 -1.1%
77	MERCK & CO INC COM MRK	MRK	1,365,877	$175.5m0.27%	0.27%	Added +24.6k	+24,584 1.8%
78	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	815,684	$173.6m0.27%	0.27%	Reduced -133.2k	-133,175 -14.0%
79	TJX COS INC NEW COM TJX	TJX	1,057,151	$160.2m0.25%	0.25%	Reduced -36.0k	-35,975 -3.3%
80	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	994,218	$156.0m0.24%	0.24%	Reduced -31.2k	-31,155 -3.0%
81	PROCTER AND GAMBLE CO COM PG	PG	1,049,952	$154.0m0.24%	0.24%	Added +139.0k	+138,982 15.3%
82	BERKSHIRE HATHAWAY INC DEL CL A BRK.A	BRK.A	196	$146.8m0.23%	0.23%	Reduced -1	-1 -0.5%
83	ELI LILLY & CO COM LLY	LLY	121,140	$145.3m0.23%	0.23%	Added +1.7k	+1,749 1.5%
84	SUNCOR ENERGY INC NEW COM SU	SU	2,701,554	$145.0m0.22%	0.22%	Reduced -98.3k	-98,252 -3.5%
85	ISHARES INC CORE MSCI EMKT IEMG	IEMG	1,738,020	$144.0m0.22%	0.22%	Added +345.6k	+345,618 24.8%
86	ISHARES TR US TREAS BD ETF GOVT	GOVT	6,018,417	$137.1m0.21%	0.21%	Reduced -82.0k	-82,006 -1.3%
87	BRIGHTSPRING HEALTH SVCS INC COM BTSG	BTSG	1,958,436	$136.6m0.21%	0.21%	Reduced -208.3k	-208,289 -9.6%
88	BLACKSTONE INC COM BX	BX	1,144,014	$134.6m0.21%	0.21%	Reduced -33.9k	-33,944 -2.9%
89	LOWES COS INC COM LOW	LOW	598,190	$131.9m0.20%	0.20%	Reduced -15.4k	-15,387 -2.5%
90	CISCO SYS INC COM CSCO	CSCO	1,121,178	$131.7m0.20%	0.20%	Added +31.1k	+31,150 2.9%
91	MONDELEZ INTL INC CL A MDLZ	MDLZ	2,213,612	$128.0m0.20%	0.20%	Added +4.4k	+4,358 0.2%
92	ISHARES TR MSCI ACWI ETF ACWI	ACWI	791,591	$124.2m0.19%	0.19%	Added +99.0k	+99,013 14.3%
93	HEALTHEQUITY INC COM HQY	HQY	1,372,624	$124.0m0.19%	0.19%	Reduced -40.2k	-40,160 -2.8%
94	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	1,689,996	$120.4m0.19%	0.19%	Added +100.5k	+100,526 6.3%
95	BROOKFIELD INFRASTRUCTURE CO COM SUB VTG A BIPC	BIPC	3,112,566	$120.0m0.19%	0.19%	Added +17.0k	+17,026 0.6%
96	AMER SPORTS INC COM SHS AS	AS	3,404,839	$115.2m0.18%	0.18%	Reduced -161.1k	-161,095 -4.5%
97	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	154,089	$113.5m0.18%	0.18%	Added +9.8k	+9,783 6.8%
98	ESTABLISHMENT LABS HLDGS INC COM ESTA	ESTA	1,313,148	$112.7m0.17%	0.17%	Reduced -213.7k	-213,724 -14.0%
99	ARCH CAP GROUP LTD ORD ACGL	ACGL	1,153,081	$111.9m0.17%	0.17%	Reduced -9.4k	-9,397 -0.8%
100	VANGUARD WORLD FD INF TECH ETF VGT	VGT	934,244	$111.7m0.17%	0.17%	Added +5.8k	+5,756 0.6%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
MISTER CAR WASH INC		7,486,309	$52.2m7.5m shares
DRAFTKINGS INC NEW DKNG	DKNG	1,877,165	$40.6m1.9m shares
AVANOS MED INC AVNS	AVNS	2,231,198	$31.3m2.2m shares
HONEYWELL INTL INC		59,992	$27.1m60.0k shares
MIRION TECHNOLOGIES INC MIR	MIR	1,300,073	$24.2m1.3m shares
PC CONNECTION INC CNXN	CNXN	340,709	$19.9m340.7k shares
CABLE ONE INC CABO	CABO	170,181	$15.5m170.2k shares
DUPONT DE NEMOURS INC DWDP	DWDP	112,096	$15.4m112.1k shares
HOLOGIC INC HOLX	HOLX	62,884	$4.8m62.9k shares
MASIMO CORP MASI	MASI	14,734	$2.6m14.7k shares
HUBSPOT INC HUBS	HUBS	5,786	$1.4m5.8k shares
TERNIUM SA TX	TX	24,872	$998.6k24.9k shares
LINKBANCORP INC LNKB	LNKB	88,939	$741.8k88.9k shares
SOMNIGROUP INTERNATIONAL INC SGI	SGI	9,681	$715.6k9.7k shares
ORMAT TECHNOLOGIES INC ORA	ORA	5,925	$663.1k5.9k shares
AMICUS THERAPEUTICS INC FOLD	FOLD	45,525	$658.3k45.5k shares
TASEKO MINES LTD		98,361	$634.4k98.4k shares
PACER FDS TR CALF	CALF	13,392	$600.9k13.4k shares
MYR GROUP INC DEL MYRG	MYRG	2,029	$572.7k2.0k shares
AMERICAN CENTY ETF TR QGRO	QGRO	5,393	$566.4k5.4k shares
THOR FINL TECHNOLOGIES TR THIR	THIR	18,018	$558.8k18.0k shares
AECOM ACM	ACM	5,901	$500.5k5.9k shares
TECHTARGET INC TTGT	TTGT	127,626	$495.2k127.6k shares
NEXTRACKER INC NXT	NXT	3,931	$473.9k3.9k shares
CHARTER COMMUNICATIONS INC N CHTR	CHTR	2,183	$471.3k2.2k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
ADVISORS INNER CIRCLE FD III BAIV · 13G · filed 2026-03-06	BAIV	98.7%	new	13G	2026-03-06
ADVISORS INNER CIRCLE FD III BASV · 13G · filed 2026-05-08	BASV	98.0%	-2.0 pts	13G	2026-05-08
ADVISORS INNER CIRCLE FD III BAFE · 13G · filed 2026-05-08	BAFE	97.8%≈ $1.7bn		13G	2026-05-08
ADVISORS INNER CIRCLE FD III BASG · 13G · filed 2025-09-09	BASG	91.9%≈ $507.1m	-8.1 pts	13G	2025-09-09
TEMA ETF TRUST DSPY · 13G · filed 2026-06-05	DSPY	87.9%≈ $865.0m		13G	2026-06-05
ANDERSEN GROUP INC ANDG · 13G · filed 2026-10-07	ANDG	10.7%	-5.9 pts	13G	2026-10-07
2023 ETF SERIES TRUST EAGL · 13G · filed 2026-05-15	EAGL	9.1%≈ $372.2m	+3.3 pts	13G	2026-05-15
LUMEXA IMAGING HOLDINGS INC LMRI · 13G · filed 2026-08-14	LMRI	6.1%≈ $65.9m	new	13G	2026-08-14
SI-BONE INC SIBN · 13G · filed 2026-02-13	SIBN	5.8%≈ $41.0m	-1.8 pts	13G	2026-02-13
ESTABLISHMENT LABS HLDGS INC ESTA · 13G · filed 2026-05-15	ESTA	5.4%≈ $135.4m	-1.6 pts	13G	2026-05-15
OCEANEERING INTL INC OII · 13G · filed 2026-08-14	OII	5.1%≈ $205.8m	-1.5 pts	13G	2026-08-14