# EDGAR Filing Document

**Accession Number:** 0000869351
**File Stem:** 0000869351-26-000034
**Filing Date:** 2026-5
**Character Count:** 16279
**Document Hash:** dc2e9f7c394d3d7aa85c75544402bf64
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000869351-26-000034.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0000869351-26-000034

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brown Capital Management Mutual Funds
- **CENTRAL INDEX KEY:** 0000869351

**ORGANIZATION NAME:**
- **EIN:** 566376571
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06199
- **FILM NUMBER:** 261025302

**BUSINESS ADDRESS:**
- **STREET 1:** 1201 N. CALVERT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 4108373234

**MAIL ADDRESS:**
- **STREET 1:** 1201 N. CALVERT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NOTTINGHAM INVESTMENT TRUST II
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### The Brown Capital Management International Small Company Fund (Series ID: S000049041)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000154624 | Institutional Shares | BCSFX           |
| C000154625 | Investor Shares      | BCSVX           |

## 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 Capital Management Mutual Funds

- **b. Investment Company Act file number:** 811-06199

- **c. CIK number of Registrant:** 0000869351

- **d. LEI of Registrant:** 549300CCIM9MVH3XK623

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

  - **Street Address 1:** 1201 N Calvert Street

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21202

  - **Telephone number:** 877-892-4226

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

- **a. Name of Series:** Brown Capital Management International Small Company Fund

- **b. EDGAR series identifier (if any):** S000049041

- **c. LEI of Series:** 549300TLQKLHDTIF7V05

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $1274496591.35

**Total Liabilities:** $9363608.57

**Net Assets:** $1265132982.78

**Cash Not Reported:** $26821516.50

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000154624 | -5.08%               | -7.08%               | -7.37%               |
| Class ID C000154625 | -5.13%               | -7.04%               | -7.44%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-34985217.91            | $-61061298.11                              |
| Month 2  | $-20190822.93            | $-98410406.23                              |
| Month 3  | $-51626059.88            | $-54346048.94                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Towa Pharmaceutical Co., Ltd.            | Towa Pharmaceutical Co Ltd               | CUSIP: N/A<br>LEI: 35380036BH1C3PNO2426       | Long             | EC               | CORP              | JP        |   1920782 | NS      | $49411012.52  | 3.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Default                                  | NAYAX LTD                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |    448948 | NS      | $25320208.96  | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lectra                                   | Lectra                                   | CUSIP: N/A<br>LEI: 9695000KWQEBUDT6IO19       | Long             | EC               | CORP              | FR        |   1873668 | NS      | $36445701.43  | 2.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Default                                  | ATOSS Software SE                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | DE        |    340214 | NS      | $30221832.14  | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Victrex PLC                              | Victrex PLC                              | CUSIP: N/A<br>LEI: 213800UYNPHAUNHPXL67       | Long             | EC               | CORP              | GB        |   2336546 | NS      | $17697975.19  | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Default                                  | HUB24                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    584109 | NS      | $34186048.22  | 2.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Default                                  | Dr. Lal Pathlabs Limited                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IN        |   1971203 | NS      | $27455615.91  | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Rea Group Ltd                            | REA Group Ltd                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    503855 | NS      | $55201546.42  | 4.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Sectra AB                                | Sectra AB                                | CUSIP: N/A<br>LEI: 549300R9ZBT8YSFFK266       | Long             | EC               | CORP              | SE        |   2266126 | NS      | $54147740.96  | 4.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Azimut Holding Spa                       | Azimut Holding SpA                       | CUSIP: N/A<br>LEI: 81560025690EF8540635       | Long             | EC               | CORP              | IT        |   1107476 | NS      | $42080848.03  | 3.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Descartes Systems Group Inc/the          | Descartes Systems Group Inc/Th           | CUSIP: N/A<br>LEI: 875500NEPA7JI5EOMN45       | Long             | EC               | CORP              | CA        |    801599 | NS      | $57415947.36  | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SMS Co., Ltd.                            | SMS Co Ltd                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    320580 | NS      | $3391632.41   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| STRATEC SE                               | STRATEC Biomedical AG                    | CUSIP: N/A<br>LEI: 529900ZZJWANAFSPGV30       | Long             | EC               | CORP              | DE        |   1004882 | NS      | $19901917.11  | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Kingdee International Software Group Co. | Kingdee International Software           | CUSIP: N/A<br>LEI: 529900SWRZN94C5SZO63       | Long             | EC               | CORP              | KY        |  17666492 | NS      | $19612361.11  | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| CAMTEK LTD                               | Camtek Ltd/Israel                        | CUSIP: M20791105<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    302055 | NS      | $45794558.55  | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPoint PLC                             | PayPoint Plc                             | CUSIP: N/A<br>LEI: 5493004YKWI8U0GDD138       | Long             | EC               | CORP              | GB        |   1817753 | NS      | $13520749.82  | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Crisil Ltd                               | CRISIL Ltd                               | CUSIP: N/A<br>LEI: 335800XLQ1LWF1M6KM87       | Long             | EC               | CORP              | IN        |    668527 | NS      | $26743934.46  | 2.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Hiday Hidaka Corp.                       | Hiday Hidaka Corp                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |   2606374 | NS      | $48803890.18  | 3.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Aj Bell Plc                              | AJ Bell PLC                              | CUSIP: N/A<br>LEI: 213800VNKA7DPWXWJJ36       | Long             | EC               | CORP              | GB        |   8168627 | NS      | $51128315.65  | 4.04%             |  |  |  | No            |                  2 | On Loan: No      |
| GMO Payment Gateway, Inc.                | GMO Payment Gateway Inc                  | CUSIP: N/A<br>LEI: 353800Q6U21E2PM83F86       | Long             | EC               | CORP              | JP        |    619742 | NS      | $32390068.11  | 2.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Evotec SE                                | Evotec AG                                | CUSIP: N/A<br>LEI: 529900F9KI6OYITO9B12       | Long             | EC               | CORP              | DE        |   3828897 | NS      | $19459626.82  | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Default                                  | TECHNOLOGY ONE LTD                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   1584273 | NS      | $30073223.00  | 2.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Hemnet Group AB                          | Hemnet Group AB                          | CUSIP: N/A<br>LEI: 5493008VIU67J3HUAR07       | Long             | EC               | CORP              | SE        |   3213043 | NS      | $36625417.44  | 2.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Default                                  | VusionGroup                              | CUSIP: 024311198<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |    332457 | NS      | $42667635.37  | 3.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Default                                  | PLANISWARE SA                            | CUSIP: N/A<br>LEI: 969500356FAUM2X41Q59       | Long             | EC               | CORP              | FR        |   1453702 | NS      | $24365044.25  | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| WiseTech Global, Ltd.                    | WiseTech Global Ltd                      | CUSIP: N/A<br>LEI: 254900VE3AF301Q85K83       | Long             | EC               | CORP              | AU        |   1021860 | NS      | $27570370.49  | 2.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Pro Medicus, Ltd.                        | Pro Medicus Ltd                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    376576 | NS      | $31036243.02  | 2.45%             |  |  |  | No            |                  2 | On Loan: No      |
| First American Treasury Obligations Fund | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  14322556 | NS      | $14322555.55  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Default                                  | Global-e Online Ltd.                     | CUSIP: 234651102<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    939351 | NS      | $28978978.35  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Kakaku.com, Inc.                         | Kakaku.com Inc                           | CUSIP: N/A<br>LEI: 353800KA15Y0DCPWYY65       | Long             | EC               | CORP              | JP        |   1392587 | NS      | $18332130.29  | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Software Service, Inc.                   | Software Service Inc                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    470336 | NS      | $34300071.71  | 2.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinaxis, Inc.                            | Kinaxis Inc                              | CUSIP: N/A<br>LEI: 5299009VAZ14K7PFUQ15       | Long             | EC               | CORP              | CA        |    562872 | NS      | $56809164.55  | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Rightmove PLC                            | Rightmove PLC                            | CUSIP: N/A<br>LEI: 2138001JXGCFKBXYB828       | Long             | EC               | CORP              | GB        |   3038189 | NS      | $17382328.06  | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Ambu A/s                                 | Ambu A/S                                 | CUSIP: N/A<br>LEI: 5299008W2A69WX355710       | Long             | EC               | CORP              | DK        |   4009327 | NS      | $42848859.43  | 3.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Interparfums SA                          | Interparfums SA                          | CUSIP: N/A<br>LEI: 969500SARWF33OPQED48       | Long             | EC               | CORP              | FR        |   2039426 | NS      | $54234380.48  | 4.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Default                                  | CELLEBRITE DI LTD                        | CUSIP: M2197Q107<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |   2029801 | NS      | $27970657.78  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MIPS AB                                  | MIPS AB                                  | CUSIP: N/A<br>LEI: 549300LZSA4S0L54VQ25       | Long             | EC               | CORP              | SE        |   1259883 | NS      | $30914740.46  | 2.44%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-27

**Name of Applicant:** Brown Capital Management Mutual Funds

**Signature:** Michael Forster

**Name of Signer:** Michael Forster

**Title:** Treasurer and Principal Financial Officer