Vault-13

ADVISORS INNER CIRCLE FD III BASG

BROWN ADVISORY · ETP · CUSIP 00775Y272

15 institutional holders +2 vs Q4 2025
18,304,87618.3m shares reported held*
$415.9mreported value*
5 new 5 added 3 reduced 3 sold out net sold ≈ $83.0m (-3.7m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $22.72.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

051015Q2 25: 2Q3 25: 4Q4 25: 13Q1 26: 1515Q2 25Q3 25Q4 25Q1 26
Numbers
QuarterHolders
Q2 20252
Q3 20254
Q4 202513
Q1 202615

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
10010Q3 25: 4 bought or addedQ3 25: 0 cut or sold outQ3 25Q4 25: 10 bought or addedQ4 25: 4 cut or sold outQ4 25Q1 26: 10 bought or addedQ1 26: 6 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q3 202540
Q4 2025104
Q1 2026106

Biggest buyers

BALDWIN WEALTH PARTNERS LLC/MA New +198,958+199.0k
COMMONWEALTH EQUITY SERVICES, LLC Added +94,383+94.4k
North Berkeley Wealth Management, LLC Added +86,479+86.5k
Allegheny Financial Group Added +66,704+66.7k
Mutual Advisors, LLC New +41,935+41.9k
Quantinno Capital Management LP Added +41,932+41.9k
Modern Wealth Management, LLC Added +37,397+37.4k
ENVESTNET ASSET MANAGEMENT INC New +15,895+15.9k
JPMORGAN CHASE & CO New +6,500+6.5k
MORGAN STANLEY New +4,708+4.7k

Biggest sellers

BROWN ADVISORY INC Reduced -1,683,316-1.7m
MJP ASSOCIATES INC /ADV Sold out -1,265,863-1.3m
Advisor OS, LLC Sold out -1,265,863-1.3m
KEYBANK NATIONAL ASSOCIATION/OH Sold out -23,946-23.9k
Frontier Asset Management, LLC Reduced -5,107-5.1k
TRED AVON FAMILY WEALTH, LLC Reduced -4,915-4.9k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
BROWN ADVISORY INC 13G · institution -8.1 pts · filed 2025-09-09 91.9% -8.1 pts 19.0m≈ $507.1m 2025-09-09

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BROWN ADVISORY INC 0.64% of their portfolio BALTIMORE, MD 17,045,45817.0m $387.3m $387.3m 0.64% Reduced -1.7m -1,683,316
2 Quantinno Capital Management LP 0.01% of their portfolio NEW YORK, NY 315,920315.9k $7.2m $7.2m 0.01% Added +41.9k +41,932
3 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 254,753254.8k $5.8m $5.8m 0.01% Added +94.4k +94,383
4 BALDWIN WEALTH PARTNERS LLC/MA 0.33% of their portfolio Marion, MA 198,958199.0k $4.5m $4.5m 0.33% New
5 North Berkeley Wealth Management, LLC 1.95% of their portfolio Berkeley, CA 162,505162.5k $3.7m $3.7m 1.95% Added +86.5k +86,479
6 Allegheny Financial Group 0.39% of their portfolio Pittsburgh, PA 127,318127.3k $2.9m $2.9m 0.39% Added +66.7k +66,704
7 TRED AVON FAMILY WEALTH, LLC 0.46% of their portfolio EASTON, MD 60,83360.8k $1.4m $1.4m 0.46% Reduced -4.9k -4,915
8 Modern Wealth Management, LLC 0.02% of their portfolio KANSAS CITY, MO 46,68446.7k $1.1m $1.1m 0.02% Added +37.4k +37,397
9 Mutual Advisors, LLC 0.02% of their portfolio OMAHA, NE 41,93541.9k $952.8k $952.8k 0.02% New
10 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 15,89515.9k $361.1k $361.1k 0.00% New
11 Frontier Asset Management, LLC 0.06% of their portfolio SHERIDAN, WY 11,99012.0k $272.4k $272.4k 0.06% Reduced -5.1k -5,107
12 ROMAN BUTLER FULLERTON & CO 0.07% of their portfolio ST LOUIS, MO 10,12610.1k $237.5k $237.5k 0.07% Unchanged
13 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 6,5006.5k $142.9k $142.9k 0.00% New
14 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 4,7084.7k $107.0k $107.0k 0.00% New
15 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,2931.3k $29.0k $29.0k 0.00% Unchanged