# EDGAR Filing Document

**Accession Number:** 0001548609
**File Stem:** 0000894189-25-006395
**Filing Date:** 2025-8
**Character Count:** 25998
**Document Hash:** 5b057ac85403e148b5936f22257baf5a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-006395.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0000894189-25-006395

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20250630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brown Advisory Funds
- **CENTRAL INDEX KEY:** 0001548609

**ORGANIZATION NAME:**
- **EIN:** 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:** 251277280

**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 - WMC Strategic European Equity Fund (Series ID: S000042683)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000131937 | Institutional Shares | BAFHX           |
| C000131938 | Investor Shares      | BIAHX           |
| C000131939 | Advisor Shares       | BAHAX           |

## 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 - WMC Strategic European Equity Fund

- **b. EDGAR series identifier (if any):** S000042683

- **c. LEI of Series:** 549300UMYQLY5V8U0785

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

- **a. Date of fiscal year-end:** 2025-06-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $683149871.49

**Total Liabilities:** $2362782.81

**Net Assets:** $680787088.68

**Cash Not Reported:** $2081188.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000131937 | 4.55%                | 9.47%                | 3.98%                |
| Class ID C000131938 | 4.57%                | 9.43%                | 3.99%                |
| Class ID C000131939 | 4.50%                | 9.38%                | 4.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5723998.27              | $14602987.62                               |
| Month 2  | $2596946.33              | $42709100.63                               |
| Month 3  | $6284613.78              | $18133433.82                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Government Obli | First American Government Obligations Fund           | CUSIP: 31846V567<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  25374574 | NS      | $25374573.59  | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Beiersdorf AG                  | Beiersdorf AG                                        | CUSIP: N/A<br>LEI: L47NHHI0Z9X22DV46U41       | Long             | EC               | CORP              | DE        |     18496 | NS      | $2324916.33   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings PLC           | Ryanair Holdings PLC                                 | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |    117986 | NS      | $6804252.62   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Savills PLC                    | Savills PLC                                          | CUSIP: N/A<br>LEI: 213800WXICGMBWHTA933       | Long             | EC               | CORP              | GB        |    191027 | NS      | $2610045.75   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Jeronimo Martins SGPS SA       | Jeronimo Martins SGPS SA                             | CUSIP: N/A<br>LEI: 259400A8SZP10GB5IB19       | Long             | EC               | CORP              | PT        |    524356 | NS      | $13275623.13  | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Azelis Group NV                | Azelis Group NV                                      | CUSIP: N/A<br>LEI: 699400M9RRMTV264FM70       | Long             | EC               | CORP              | BE        |    187160 | NS      | $2991988.49   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon PLC                     | Haleon PLC                                           | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |   3996311 | NS      | $20539503.69  | 3.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Amrize Ltd                     | Amrize Ltd                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    143582 | NS      | $7162361.28   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Rotork PLC                     | Rotork PLC                                           | CUSIP: N/A<br>LEI: 213800AH5RZIHGWRJ718       | Long             | EC               | CORP              | GB        |   1187564 | NS      | $5239334.73   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Elis SA                        | Elis SA                                              | CUSIP: N/A<br>LEI: 969500UX71LCE8MAY492       | Long             | EC               | CORP              | FR        |    595780 | NS      | $17093867.42  | 2.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Hexpol AB                      | Hexpol AB                                            | CUSIP: N/A<br>LEI: 549300MN30TBRLYN3465       | Long             | EC               | CORP              | SE        |    372845 | NS      | $3606692.77   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Assa Abloy AB                  | Assa Abloy AB                                        | CUSIP: N/A<br>LEI: 549300YECS8HKCIMMB67       | Long             | EC               | CORP              | SE        |    250156 | NS      | $7820788.48   | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Beazley PLC                    | Beazley PLC                                          | CUSIP: N/A<br>LEI: 213800VTOMUWD41GIT12       | Long             | EC               | CORP              | GB        |    790225 | NS      | $10146472.95  | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| AlzChem Group AG               | AlzChem Group AG                                     | CUSIP: N/A<br>LEI: 8945004EL7WZK3ERG181       | Long             | EC               | CORP              | DE        |     12245 | NS      | $2004803.33   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| British American Tobacco PLC   | British American Tobacco PLC                         | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |    681075 | NS      | $32382546.28  | 4.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Hikma Pharmaceuticals PLC      | Hikma Pharmaceuticals PLC                            | CUSIP: N/A<br>LEI: 549300BNS685UXH4JI75       | Long             | EC               | CORP              | GB        |    130174 | NS      | $3552311.27   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Danone SA                      | Danone SA                                            | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |    123525 | NS      | $10107256.88  | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| RENK Group AG                  | RENK Group AG                                        | CUSIP: N/A<br>LEI: 894500H8CNSZ53EI6K63       | Long             | EC               | CORP              | DE        |     63772 | NS      | $5101177.59   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Hannover Rueck SE              | Hannover Rueck SE                                    | CUSIP: N/A<br>LEI: 529900KIN5BE45V5KB18       | Long             | EC               | CORP              | DE        |     11605 | NS      | $3656901.40   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| UCB SA                         | UCB SA                                               | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |     68707 | NS      | $13518679.43  | 1.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Holcim AG                      | Holcim AG                                            | CUSIP: N/A<br>LEI: 529900EHPFPYHV6IQO98       | Long             | EC               | CORP              | CH        |    119459 | NS      | $8870922.66   | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Baloise Holding AG             | Baloise Holding AG                                   | CUSIP: N/A<br>LEI: 529900G5XKBZN48T6283       | Long             | EC               | CORP              | CH        |     35728 | NS      | $8426522.53   | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Bunzl PLC                      | Bunzl PLC                                            | CUSIP: N/A<br>LEI: 213800Q1Q9DV4L78UM09       | Long             | EC               | CORP              | GB        |    594273 | NS      | $18937337.27  | 2.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Pandora A/S                    | Pandora A/S                                          | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |     96662 | NS      | $17031398.20  | 2.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Dassault Aviation SA           | Dassault Aviation SA                                 | CUSIP: N/A<br>LEI: 969500CVFTUT88V8QN95       | Long             | EC               | CORP              | FR        |     18115 | NS      | $6404977.37   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Hensoldt AG                    | Hensoldt AG                                          | CUSIP: N/A<br>LEI: 894500686FYLLZD3M624       | Long             | EC               | CORP              | DE        |     29928 | NS      | $3437802.53   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Technip Energies NV            | Technip Energies NV                                  | CUSIP: N/A<br>LEI: 724500FLODI49NSCIP70       | Long             | EC               | CORP              | FR        |    445625 | NS      | $18748636.85  | 2.75%             |  |  |  | No            |                  2 | On Loan: No      |
| FUCHS SE                       | FUCHS SE                                             | CUSIP: N/A<br>LEI: 529900SNF9E1P5ZO4P98       | Long             | EP               | CORP              | DE        |    124987 | NS      | $6907744.97   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| QIAGEN NV                      | QIAGEN NV                                            | CUSIP: N/A<br>LEI: 54930036WK3GMCN17Z57       | Long             | EC               | CORP              | NL        |    348732 | NS      | $16801824.21  | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Galderma Group AG              | Galderma Group AG                                    | CUSIP: N/A<br>LEI: 89450001OK6O8ELQ4584       | Long             | EC               | CORP              | CH        |    102597 | NS      | $14913058.34  | 2.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Thales SA                      | Thales SA                                            | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |     25581 | NS      | $7553441.29   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Storebrand ASA                 | Storebrand ASA                                       | CUSIP: N/A<br>LEI: 5967007LIEEXZX7NA051       | Long             | EC               | CORP              | NO        |    519918 | NS      | $7363536.98   | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Unilever PLC                   | Unilever PLC                                         | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |    337944 | NS      | $20623396.74  | 3.03%             |  |  |  | No            |                  2 | On Loan: No      |
| SPIE SA                        | SPIE SA                                              | CUSIP: N/A<br>LEI: 969500TJNS5GSFWJ8X85       | Long             | EC               | CORP              | FR        |    171872 | NS      | $9664479.80   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| WH Smith PLC                   | WH Smith PLC                                         | CUSIP: N/A<br>LEI: 2138001KJNGUJ34G7X91       | Long             | EC               | CORP              | GB        |    277900 | NS      | $4162426.80   | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| RS GROUP PLC                   | RS GROUP PLC                                         | CUSIP: N/A<br>LEI: 549300KVXDURRKVW7R37       | Long             | EC               | CORP              | GB        |   1252016 | NS      | $9883342.33   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Sulzer AG                      | Sulzer AG                                            | CUSIP: N/A<br>LEI: 529900NZ6MAST5IJF669       | Long             | EC               | CORP              | CH        |     28825 | NS      | $5209070.03   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Heidelberg Materials AG        | Heidelberg Materials AG                              | CUSIP: N/A<br>LEI: LZ2C6E0W5W7LQMX5ZI37       | Long             | EC               | CORP              | DE        |     51510 | NS      | $12130475.58  | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Erste Group Bank AG            | Erste Group Bank AG                                  | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               | CORP              | AT        |    214902 | NS      | $18293651.66  | 2.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Bankinter SA                   | Bankinter SA                                         | CUSIP: N/A<br>LEI: VWMYAEQSTOPNV0SUGU82       | Long             | EC               | CORP              | ES        |   1265347 | NS      | $16518489.28  | 2.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Buzzi SpA                      | Buzzi SpA                                            | CUSIP: N/A<br>LEI: 5299003DX5YLKSVJ6K59       | Long             | EC               | CORP              | IT        |     33548 | NS      | $1860580.43   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| ABB Ltd                        | ABB Ltd                                              | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               | CORP              | CH        |    108620 | NS      | $6509470.59   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Vienna Insurance               | Vienna Insurance Group AG Wiener Versicherung Gruppe | CUSIP: N/A<br>LEI: 549300JCRU23I1THU176       | Long             | EC               | CORP              | AT        |    119078 | NS      | $6132086.38   | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| DiaSorin SpA                   | DiaSorin SpA                                         | CUSIP: N/A<br>LEI: 8156002878BDF0EE4348       | Long             | EC               | CORP              | IT        |     36595 | NS      | $3916775.92   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Brenntag SE                    | Brenntag SE                                          | CUSIP: N/A<br>LEI: NNROIXVWJ7CPSR27SV97       | Long             | EC               | CORP              | DE        |    247120 | NS      | $16371740.32  | 2.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of Ireland Group PLC      | Bank of Ireland Group PLC                            | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | EC               | CORP              | IE        |   1009870 | NS      | $14390815.83  | 2.11%             |  |  |  | No            |                  2 | On Loan: No      |
| AIB Group PLC                  | AIB Group PLC                                        | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               | CORP              | IE        |   2852451 | NS      | $23540924.32  | 3.46%             |  |  |  | No            |                  2 | On Loan: No      |
| IONOS Group SE                 | IONOS Group SE                                       | CUSIP: N/A<br>LEI: 54930038KPLOYRDHV375       | Long             | EC               | CORP              | DE        |    197413 | NS      | $9287470.19   | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Serco Group PLC                | Serco Group PLC                                      | CUSIP: N/A<br>LEI: 549300PT2CIHYN5GWJ21       | Long             | EC               | CORP              | GB        |   3083451 | NS      | $8554773.49   | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| United Internet AG             | United Internet AG                                   | CUSIP: N/A<br>LEI: 3VEKWPJHTD4NKMBVG947       | Long             | EC               | CORP              | DE        |    461274 | NS      | $12864314.22  | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Hill & Smith PLC               | Hill & Smith PLC                                     | CUSIP: N/A<br>LEI: 2138003A3ISGQZBOWI83       | Long             | EC               | CORP              | GB        |     85260 | NS      | $2101374.96   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Next PLC                       | Next PLC                                             | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |     44735 | NS      | $7640445.96   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Group NV                   | KBC Group NV                                         | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |    162656 | NS      | $16787713.63  | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Wartsila OYJ Abp               | Wartsila OYJ Abp                                     | CUSIP: N/A<br>LEI: 743700G7A9J1PHM3X223       | Long             | EC               | CORP              | FI        |    150554 | NS      | $3558258.21   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Rheinmetall AG                 | Rheinmetall AG                                       | CUSIP: N/A<br>LEI: 5299001OU9CSE29O6S05       | Long             | EC               | CORP              | DE        |      6255 | NS      | $13246243.50  | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| Jenoptik AG                    | Jenoptik AG                                          | CUSIP: N/A<br>LEI: 529900P34GDHGXK6VB37       | Long             | EC               | CORP              | DE        |     92878 | NS      | $2143951.43   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Sampo Oyj                      | Sampo Oyj                                            | CUSIP: N/A<br>LEI: 743700UF3RL386WIDA22       | Long             | EC               | CORP              | FI        |    839888 | NS      | $9039324.16   | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Royal Unibrew A/S              | Royal Unibrew A/S                                    | CUSIP: N/A<br>LEI: 529900D69KFL8IAP8Q63       | Long             | EC               | CORP              | DK        |    149510 | NS      | $12213055.77  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Publicis Groupe SA             | Publicis Groupe SA                                   | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |    160611 | NS      | $18140224.37  | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Komercni Banka AS              | Komercni Banka AS                                    | CUSIP: N/A<br>LEI: IYKCAVNFR8QGF00HV840       | Long             | EC               | CORP              | CZ        |     94046 | NS      | $4551173.05   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Legrand SA                     | Legrand SA                                           | CUSIP: N/A<br>LEI: 969500XXRPGD7HCAFA90       | Long             | EC               | CORP              | FR        |     20365 | NS      | $2729499.03   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Fluidra SA                     | Fluidra SA                                           | CUSIP: N/A<br>LEI: 95980020140005026620       | Long             | EC               | CORP              | ES        |    402782 | NS      | $10098045.02  | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| IMI PLC                        | IMI PLC                                              | CUSIP: N/A<br>LEI: 2138002W9Q21PF751R30       | Long             | EC               | CORP              | GB        |    193371 | NS      | $5564262.47   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Spectris PLC                   | Spectris PLC                                         | CUSIP: N/A<br>LEI: 213800Z4CO2CZO3M3T10       | Long             | EC               | CORP              | GB        |    187683 | NS      | $9890458.72   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Trelleborg AB                  | Trelleborg AB                                        | CUSIP: N/A<br>LEI: 213800XY16PAWG2PAD14       | Long             | EC               | CORP              | SE        |    172657 | NS      | $6431663.81   | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Smiths Group PLC               | Smiths Group PLC                                     | CUSIP: N/A<br>LEI: 213800MJL6IPZS3ASA11       | Long             | EC               | CORP              | GB        |    740760 | NS      | $22848193.74  | 3.36%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** Brown Advisory Funds

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

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

**Title:** Principal Financial Officer