# EDGAR Filing Document

**Accession Number:** 0001548609
**File Stem:** 0000894189-25-017243
**Filing Date:** 2025-12
**Character Count:** 17901
**Document Hash:** 0e5041fb4a24f91973759810389addb5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-017243.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0000894189-25-017243

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**EFFECTIVENESS DATE**: 20251219

**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:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-181202
- **FILM NUMBER:** 251585359

**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           |

------

#### <br>

#### BROWN ADVISORY FUNDS

#### Brown Advisory Growth Equity Fund

#### Brown Advisory Flexible Equity Fund

#### Brown Advisory Sustainable Growth Fund

#### Brown Advisory Mid-Cap Growth Fund

#### Brown Advisory Small-Cap Growth Fund

#### Brown Advisory Small-Cap Fundamental Value Fund

#### Brown Advisory Sustainable Small-Cap Core Fund

#### Brown Advisory Sustainable Value Fund

#### Brown Advisory Global Leaders Fund

#### Brown Advisory Sustainable International Leaders Fund

#### Brown Advisory Intermediate Income Fund

#### Brown Advisory Sustainable Bond Fund

#### Brown Advisory Maryland Bond Fund

#### Brown Advisory Tax-Exempt Bond Fund

#### Brown Advisory Tax-Exempt Sustainable Bond Fund

#### Brown Advisory Mortgage Securities Fund

#### Brown Advisory - WMC Strategic European Equity Fund

#### Brown Advisory Emerging Markets Select Fund

#### Brown Advisory – Beutel Goodman Large-Cap Value Fund

#### Brown Advisory - WMC Japan Equity Fund

#### _____________________________________________________________________________________

#### Supplement dated December 19, 2025

#### to the Statement of Additional Information ("SAI") dated October 31, 2025

#### _____________________________________________________________________________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Effective December 31, 2025, Henry H. Hopkins, a member of the Board of Trustees of the Brown Advisory Funds (the "Trust") has retired from his role as an Independent Trustee of the Trust. Accordingly, all references to Mr. Hopkins serving as an Independent Trustee of the Trust throughout the SAI are removed in their entirety.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The table entitled "Other Accounts under Management" in the section entitled "Management - Investment Sub-Adviser – Brown Advisory Emerging Markets Select Fund – Information Regarding Portfolio Managers" is deleted and restated with the following:

**Other Accounts Under Management**. The table below identifies, for the portfolio manager of the Brown Advisory Emerging Markets Select Fund, the number of accounts managed (excluding the Fund) and the total assets in such accounts, within each of the following categories: registered investment companies, other pooled investment vehicles, and other accounts. Information in the table is shown as of June 30, 2025. Asset amounts are approximate and have been rounded.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Number of Other Accounts Managed**<br> **and Assets by Account Type** | **Number of Other Accounts Managed**<br> **and Assets by Account Type** | **Number of Other Accounts Managed**<br> **and Assets by Account Type** | **Number of Accounts and Assets for which** <br> **Advisory Fee is Performance Based** | **Number of Accounts and Assets for which** <br> **Advisory Fee is Performance Based** | **Number of Accounts and Assets for which** <br> **Advisory Fee is Performance Based** |
| **Fund and**<br> **Portfolio Manager** | Registered <br> Investment <br> Companies | Other Pooled <br> Investment <br> Vehicles | Other<br> Accounts | Registered <br> Investment <br> Companies | Other Pooled <br> Investment <br> Vehicles | Other<br> Accounts |
| **Brown Advisory Emerging Markets Select Fund** | **Brown Advisory Emerging Markets Select Fund** | **Brown Advisory Emerging Markets Select Fund** | **Brown Advisory Emerging Markets Select Fund** | **Brown Advisory Emerging Markets Select Fund** |  |  |
| Rakesh Bordia | 17 | 36 | 41 | 1 | 1 | 0 |
| Rakesh Bordia | $11.0 billion | $5.0 billion | 10.1 billion | $303 million | $400 million | $0 |
| Caroline Cai | 18 | 65 | 59 | 2 | 4 | 0 |
| Caroline Cai | $12.9 billion | $29.1 billion | $15.5 billion | $2.2 billion | $806 million | $0 |
| Allison Fisch | 17 | 36 | 40 | 1 | 1 | 0 |
| Allison Fisch | $11.0 billion | $5.0 billion | 10.1 billion | $303 million | $400 million | $0 |
| Akhil Subramanian | 5 | 18 | 18 | 1 | 1 | 0 |
|  | $3.1 billion | $2.1 billion | $6.1 billion | $303 million | $400 million | $0 |

---

If you have any questions, please call Brown Advisory Funds at 800-540-6807 (toll free) or 414-203-9064.

#### Investors should retain this supplement for future reference.

#### <br>

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<br>