# EDGAR Filing Document

**Accession Number:** 0001548609
**File Stem:** 0000894189-25-007981
**Filing Date:** 2025-9
**Character Count:** 15365
**Document Hash:** ec7d2002b67eb06817340294c2ac0923
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-007981.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0000894189-25-007981

**CONFORMED SUBMISSION TYPE**: 24F-2NT

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**EFFECTIVENESS DATE**: 20250924

**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:** 24F-2NT
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-181202
- **FILM NUMBER:** 251336413

**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 Growth Fund (Series ID: S000037789)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BAFWX         | C000116562 |
| Investor Shares      | BIAWX         | C000116563 |
| Advisor Shares       | BAWAX         | C000116564 |

---

### Brown Advisory Tax-Exempt Bond Fund (Series ID: S000037790)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BTEIX         | C000116565 |
| Investor Shares      | BIAEX         | C000116566 |
| Advisor Shares       | nan           | C000116567 |

---

### Brown Advisory Growth Equity Fund (Series ID: S000038479)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | BIAGX         | C000118712 |
| Institutional Shares | BAFGX         | C000118713 |
| Advisor Shares       | BAGAX         | C000118714 |

---

### Brown Advisory Flexible Equity Fund (Series ID: S000038482)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | BIAFX         | C000118721 |
| Institutional Shares | BAFFX         | C000118722 |
| Advisor Shares       | BAFAX         | C000118723 |

---

### Brown Advisory Small-Cap Growth Fund (Series ID: S000038483)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | BIASX         | C000118724 |
| Institutional Shares | BAFSX         | C000118725 |
| Advisor Shares       | BASAX         | C000118726 |

---

### Brown Advisory Small-Cap Fundamental Value Fund (Series ID: S000038484)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | BIAUX         | C000118727 |
| Institutional Shares | BAUUX         | C000118728 |
| Advisor Shares       | BAUAX         | C000118729 |

---

### Brown Advisory Maryland Bond Fund (Series ID: S000038486)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | BIAMX         | C000118733 |
| Institutional Shares | nan           | C000118734 |
| Advisor Shares       | nan           | C000118735 |

---

### Brown Advisory Intermediate Income Fund (Series ID: S000038487)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | BIAIX         | C000118736 |
| Institutional Shares | nan           | C000118737 |
| Advisor Shares       | BAIAX         | C000118738 |

---

### Brown Advisory Emerging Markets Select Fund (Series ID: S000039101)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BAFQX         | C000120208 |
| Investor Shares      | BIAQX         | C000120209 |
| Advisor Shares       | BAQAX         | C000120210 |

---

### Brown Advisory - WMC Strategic European Equity Fund (Series ID: S000042683)

---

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

---

### Brown Advisory Mortgage Securities Fund (Series ID: S000043634)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BAFZX         | C000135279 |
| Investor Shares      | BIAZX         | C000135280 |
| Advisor Shares       | nan           | C000135281 |

---

### Brown Advisory Global Leaders Fund (Series ID: S000049137)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BAFLX         | C000154927 |
| Investor Shares      | BIALX         | C000154928 |
| Advisor Shares       | nan           | C000154929 |

---

### Brown Advisory Sustainable Bond Fund (Series ID: S000058305)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BAISX         | C000191095 |
| Investor Shares      | BASBX         | C000191096 |
| Advisor Shares       | nan           | C000191097 |

---

### Brown Advisory Mid-Cap Growth Fund (Series ID: S000058723)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BAFMX         | C000192739 |
| Investor Shares      | BMIDX         | C000192740 |
| Advisor Shares       | nan           | C000192741 |

---

### Brown Advisory - Beutel Goodman Large-Cap Value Fund (Series ID: S000061323)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BVALX         | C000198528 |
| Investor Shares      | BIAVX         | C000198529 |
| Advisor Shares       | nan           | C000198530 |

---

### Brown Advisory Tax-Exempt Sustainable Bond Fund (Series ID: S000067228)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | BITEX         | C000216254 |
| Institutional Shares | nan           | C000216255 |
| Advisor Shares       | nan           | C000216256 |

---

### Brown Advisory Sustainable Small-Cap Core Fund (Series ID: S000072895)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BAFYX         | C000229576 |
| Investor Shares      | BIAYX         | C000229577 |
| Advisor Shares       | nan           | C000229578 |

---

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

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | BAILX         | C000234308 |
| Investor Shares      | BISLX         | C000234309 |
| Advisor Shares       | nan           | C000234310 |

---

### Brown Advisory Sustainable Value Fund (Series ID: S000079575)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Advisor Shares       | nan           | C000240650 |
| Investor Shares      | BISVX         | C000240651 |
| Institutional Shares | BASVX         | C000240652 |

---

### Brown Advisory - WMC Japan Equity Fund (Series ID: S000088082)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Advisor Shares       | nan           | C000254124 |
| Institutional Shares | BAFJX         | C000254125 |
| Investor Shares      | BIJEX         | C000254126 |

---

## Series and Classes Contracts Data

### Brown Advisory Sustainable Growth Fund (Series ID: S000037789)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000116562 | Institutional Shares | BAFWX           |
| C000116563 | Investor Shares      | BIAWX           |
| C000116564 | Advisor Shares       | BAWAX           |

### Brown Advisory Tax-Exempt Bond Fund (Series ID: S000037790)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000116565 | Institutional Shares | BTEIX           |
| C000116566 | Investor Shares      | BIAEX           |
| C000116567 | Advisor Shares       |  |

### Brown Advisory Growth Equity Fund (Series ID: S000038479)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000118712 | Investor Shares      | BIAGX           |
| C000118713 | Institutional Shares | BAFGX           |
| C000118714 | Advisor Shares       | BAGAX           |

### Brown Advisory Flexible Equity Fund (Series ID: S000038482)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000118721 | Investor Shares      | BIAFX           |
| C000118722 | Institutional Shares | BAFFX           |
| C000118723 | Advisor Shares       | BAFAX           |

### Brown Advisory Small-Cap Growth Fund (Series ID: S000038483)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000118724 | Investor Shares      | BIASX           |
| C000118725 | Institutional Shares | BAFSX           |
| C000118726 | Advisor Shares       | BASAX           |

### Brown Advisory Small-Cap Fundamental Value Fund (Series ID: S000038484)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000118727 | Investor Shares      | BIAUX           |
| C000118728 | Institutional Shares | BAUUX           |
| C000118729 | Advisor Shares       | BAUAX           |

### Brown Advisory Maryland Bond Fund (Series ID: S000038486)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000118733 | Investor Shares      | BIAMX           |
| C000118734 | Institutional Shares |  |
| C000118735 | Advisor Shares       |  |

### Brown Advisory Intermediate Income Fund (Series ID: S000038487)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000118736 | Investor Shares      | BIAIX           |
| C000118737 | Institutional Shares |  |
| C000118738 | Advisor Shares       | BAIAX           |

### Brown Advisory Emerging Markets Select Fund (Series ID: S000039101)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000120208 | Institutional Shares | BAFQX           |
| C000120209 | Investor Shares      | BIAQX           |
| C000120210 | Advisor Shares       | BAQAX           |

### 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           |

### Brown Advisory Mortgage Securities Fund (Series ID: S000043634)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000135279 | Institutional Shares | BAFZX           |
| C000135280 | Investor Shares      | BIAZX           |
| C000135281 | Advisor Shares       |  |

### Brown Advisory Global Leaders Fund (Series ID: S000049137)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000154927 | Institutional Shares | BAFLX           |
| C000154928 | Investor Shares      | BIALX           |
| C000154929 | Advisor Shares       |  |

### Brown Advisory Sustainable Bond Fund (Series ID: S000058305)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000191095 | Institutional Shares | BAISX           |
| C000191096 | Investor Shares      | BASBX           |
| C000191097 | Advisor Shares       |  |

### Brown Advisory Mid-Cap Growth Fund (Series ID: S000058723)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000192739 | Institutional Shares | BAFMX           |
| C000192740 | Investor Shares      | BMIDX           |
| C000192741 | Advisor Shares       |  |

### Brown Advisory - Beutel Goodman Large-Cap Value Fund (Series ID: S000061323)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000198528 | Institutional Shares | BVALX           |
| C000198529 | Investor Shares      | BIAVX           |
| C000198530 | Advisor Shares       |  |

### Brown Advisory Tax-Exempt Sustainable Bond Fund (Series ID: S000067228)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000216254 | Investor Shares      | BITEX           |
| C000216255 | Institutional Shares |  |
| C000216256 | Advisor Shares       |  |

### Brown Advisory Sustainable Small-Cap Core Fund (Series ID: S000072895)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000229576 | Institutional Shares | BAFYX           |
| C000229577 | Investor Shares      | BIAYX           |
| C000229578 | Advisor Shares       |  |

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

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000234308 | Institutional Shares | BAILX           |
| C000234309 | Investor Shares      | BISLX           |
| C000234310 | Advisor Shares       |  |

### Brown Advisory Sustainable Value Fund (Series ID: S000079575)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000240650 | Advisor Shares       |  |
| C000240651 | Investor Shares      | BISVX           |
| C000240652 | Institutional Shares | BASVX           |

### Brown Advisory - WMC Japan Equity Fund (Series ID: S000088082)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000254124 | Advisor Shares       |  |
| C000254125 | Institutional Shares | BAFJX           |
| C000254126 | Investor Shares      | BIJEX           |

## FORM 24F-2NT: Annual Notice of Securities Sold Pursuant to Rule 24f-2

### 24F-2NT: Filer Information

**Filer CIK:** 0001548609

**Is this a LIVE or TEST Filing?:** LIVE

**Filer Investment Company Type:** N-1A

### 24F-2NT: Annual Filing Information

**1. Name and address of issuer:**

- **Name of Issuer:** Brown Advisory Funds

- **Address:** 901 South Bond Street, Baltimore, MD 21231

**2. The Name and EDGAR Identifier of each series or class of securities for which this Form is filed:**

- [ ] Check box if the Form is being filed for all series and classes of the issuer.

**3. Investment Company Act File Number:** 811-22708

   **Securities Act File Number:** 333-181202

**4(a). Last day of fiscal year for which this Form is filed:** 06/30/2025

**4(b). Check box if this Form is being filed late:** [ ]

**4(c). Check box if this is the last time the issuer will be filing this Form:** [ ]

**5. Calculation of registration fee:**

- **(i) Aggregate sale price of securities sold during the fiscal year:** $5381048368.00

- **(ii) Aggregate price of securities redeemed or repurchased during the fiscal year:** $6893284555.00

- **(iii) Aggregate price of securities redeemed or repurchased during any prior fiscal year:** $1802725614.00

- **(iv) Total available redemption credits [add Items 5(ii) and 5(iii)]:** $8696010169.00

- **(v) Net sales:** $0.00

- **(vi) Redemption credits available for use in future years:** $-3314961801.00

- **(vii) Multiplier for determining registration fee:** 0.0001531

- **(viii) Registration fee due:** $0.00

**Signatures**

**Name and Title:** Jason T. Meix, Principal Financial Officer / Treasurer

**Date:** 09/23/2025

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