# EDGAR Filing Document

**Accession Number:** 0001548609
**File Stem:** 0001145549-23-010499
**Filing Date:** 2023-2
**Character Count:** 13193
**Document Hash:** 690de7749f15d843f762e5210aa623c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-010499.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-010499

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brown Advisory Funds
- **CENTRAL INDEX KEY:** 0001548609
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22708
- **FILM NUMBER:** 23671991

**BUSINESS ADDRESS:**
- **STREET 1:** 901 SOUTH BOND STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231
- **BUSINESS PHONE:** 410-537-5400

**MAIL ADDRESS:**
- **STREET 1:** 901 SOUTH BOND STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231

## Series and Classes Contracts Data

### Brown Advisory Sustainable International Leaders Fund (Series ID: S000075346)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000234308 | Institutional Shares | BAILX           |
| C000234309 | Investor Shares      | BISLX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Brown Advisory Funds

- **b. Investment Company Act file number:** 811-22708

- **c. CIK number of Registrant:** 0001548609

- **d. LEI of Registrant:** 254900ZS9LW6H6GM4251

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 901 South Bond Street, Suite 400

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

  - **Telephone number:** 4105375400

**Item A.2. Information about the Series.**

- **a. Name of Series:** Brown Advisory Sustainable International Leaders Fund

- **b. EDGAR series identifier (if any):** S000075346

- **c. LEI of Series:** 254900KBBP96543DCJ91

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $16231112.16

**Total Liabilities:** $35691.10

**Net Assets:** $16195421.06

**Cash Not Reported:** $868.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234308 | 6.57%                | 11.97%               | -3.68%               |
| Class ID C000234309 | 6.57%                | 11.86%               | -3.69%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-188138.40              | $1000762.89                                |
| Month 2  | $-113372.48              | $1825176.16                                |
| Month 3  | $-393.57                 | $-604670.74                                |

### Schedule of Portfolio Investments

| Name                           | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Experian PLC                   | Experian PLC                               | CUSIP: G32655105<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | IE        |     18243 | NS      | $617863.08    | 3.82%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd                  | AIA Group Ltd                              | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |     65400 | NS      | $722237.81    | 4.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Coloplast A/S                  | Coloplast A/S                              | CUSIP: N/A<br>LEI: 529900NN7SOJ5QG82X67       | Long             | EC               | CORP              | DK        |      5294 | NS      | $620206.49    | 3.83%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                            | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       704 | NS      | $383856.07    | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Group PLC              | Compass Group PLC                          | CUSIP: G23296208<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |     24072 | NS      | $555874.15    | 3.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Sika AG                        | Sika AG                                    | CUSIP: N/A<br>LEI: 549300R3N69ECGYPU434       | Long             | EC               | CORP              | CH        |      2395 | NS      | $575765.71    | 3.56%             |  |  |  | No            |                  2 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao    | B3 SA - Brasil Bolsa Balcao                | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               | CORP              | BR        |    189578 | NS      | $473683.99    | 2.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Copco AB                 | Atlas Copco AB                             | CUSIP: W1R924229<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |     62115 | NS      | $662745.32    | 4.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Shopify Inc                    | Shopify Inc                                | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      7371 | NS      | $255916.33    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc          | Waste Connections Inc                      | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | US        |      5009 | NS      | $663969.96    | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Adyen NV                       | Adyen NV                                   | CUSIP: N/A<br>LEI: 724500973ODKK3IFQ447       | Long             | EC               | CORP              | NL        |       318 | NS      | $441461.83    | 2.73%             |  |  |  | No            |                  2 | On Loan: No      |
| NXP Semiconductors NV          | NXP Semiconductors NV                      | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |      2328 | NS      | $367893.84    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Howden Joinery Group PLC       | Howden Joinery Group PLC                   | CUSIP: N/A<br>LEI: 213800KC1LJOJTY3JP45       | Long             | EC               | CORP              | GB        |     45430 | NS      | $306762.13    | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings Inc                       | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       235 | NS      | $473590.80    | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V567<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    271873 | NS      | $271873.06    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                  | HDFC Bank Ltd                              | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     10604 | NS      | $725419.64    | 4.48%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitt | LVMH Moet Hennessy Louis Vuitton SE        | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |       972 | NS      | $707315.26    | 4.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Wolters Kluwer NV              | Wolters Kluwer NV                          | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |      5763 | NS      | $603011.09    | 3.72%             |  |  |  | No            |                  2 | On Loan: No      |
| CTS Eventim AG & Co KGaA       | CTS Eventim AG & Co KGaA                   | CUSIP: N/A<br>LEI: 529900FDHSN08UBJII80       | Long             | EC               | CORP              | DE        |      5160 | NS      | $327550.31    | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                   | Keyence Corp                               | CUSIP: N/A<br>LEI: 529900M7PQBS7A89DZ11       | Long             | EC               | CORP              | JP        |      1188 | NS      | $461234.80    | 2.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero  | Bank Rakyat Indonesia Persero Tbk PT       | CUSIP: N/A<br>LEI: 254900HB6S4B12GBNP64       | Long             | EC               | CORP              | ID        |   1634283 | NS      | $518149.86    | 3.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Shiseido Co Ltd                | Shiseido Co Ltd                            | CUSIP: N/A<br>LEI: 5299008QCD0YDT5OF506       | Long             | EC               | CORP              | JP        |      7800 | NS      | $382307.08    | 2.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Boerse AG             | Deutsche Boerse AG                         | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               | CORP              | DE        |      5243 | NS      | $902789.84    | 5.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG               | Roche Holding AG                           | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |      1759 | NS      | $552743.86    | 3.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Safran SA                      | Safran SA                                  | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |      7957 | NS      | $996642.39    | 6.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Rentokil Initial PLC           | Rentokil Initial PLC                       | CUSIP: G7494G105<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |    125185 | NS      | $769111.36    | 4.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Kone Oyj                       | Kone Oyj                                   | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |     10637 | NS      | $550694.17    | 3.40%             |  |  |  | No            |                  2 | On Loan: No      |
| London Stock Exchange Group PL | London Stock Exchange Group PLC            | CUSIP: G5689U103<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |      7170 | NS      | $616058.02    | 3.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                   | Unilever PLC                               | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |     13267 | NS      | $669825.48    | 4.14%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-27

**Name of Applicant:** Brown Advisory Funds

**Signature:** /s/ Jason T. Meix

**Name of Signer:** Jason T. Meix

**Title:** Principal Financial Officer