# EDGAR Filing Document

**Accession Number:** 0001548609
**File Stem:** 0000894189-26-005992
**Filing Date:** 2026-2
**Character Count:** 27813
**Document Hash:** a828c3b6c7dd21166bbfa008ad0d653e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-005992.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000894189-26-005992

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260630

**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:** 26684977

**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 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           |

## 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 Small-Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000038483

- **c. LEI of Series:** 2549007IMRF3K66JYA31

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $628809042.24

**Total Liabilities:** $10190001.77

**Net Assets:** $618619040.47

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000118724 | 1.83%                | 0.04%                | 0.05%                |
| Class ID C000118725 | 1.88%                | 0.07%                | 0.05%                |
| Class ID C000118726 | 1.85%                | 0.00%                | 0.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2000719.75             | $17597270.81                               |
| Month 2  | $2060361.76              | $-2061337.67                               |
| Month 3  | $36960190.57             | $-35634020.53                              |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bruker Corp                             | Bruker Corp                                | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |    344755 | NS      | $16241408.05  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings           | Clearwater Analytics Holdings Inc          | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    391208 | NS      | $9435936.96   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                 | DigitalBridge Group Inc                    | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |    400987 | NS      | $6151140.58   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Phreesia Inc                            | Phreesia Inc                               | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |     19504 | NS      | $330007.68    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                     | Curtiss-Wright Corp                        | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     20113 | NS      | $11087693.51  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                            | Entegris Inc                               | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |    135230 | NS      | $11393127.50  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| HB Fuller Co                            | HB Fuller Co                               | CUSIP: 359694106<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | EC               | CORP              | US        |    109820 | NS      | $6529897.20   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadant Inc                              | Kadant Inc                                 | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               | CORP              | US        |     30129 | NS      | $8587367.58   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Onestream Inc                           | Onestream Inc                              | CUSIP: 68278B107<br>LEI: 254900CRBCHIYDC37W82 | Long             | EC               | CORP              | US        |    500103 | NS      | $9191893.14   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| StandardAero Inc                        | StandardAero Inc                           | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    546429 | NS      | $15671583.72  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| STEPSTONE VC GLOBAL PARTNERS IV-B, L.P. | STEPSTONE VC GLOBAL PARTNERS IV-B, L.P.    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     19200 | NS      | $475020.00    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| STEPSTONE VC GLOBAL PARTNERS V-B, L.P.  | STEPSTONE VC GLOBAL PARTNERS V-B, L.P.     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     91769 | NS      | $92521.96     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Establishment Labs Holdings In          | Establishment Labs Holdings Inc            | CUSIP: N/A<br>LEI: 549300BCBQ714JNJ7V58       | Long             | EC               | CORP              | CR        |    363630 | NS      | $26501354.40  | 4.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie          | Applied Industrial Technologies Inc        | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     35200 | NS      | $9038304.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                         | Bio-Techne Corp                            | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |    249091 | NS      | $14649041.71  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                           | Dynatrace Inc                              | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |    449727 | NS      | $19491168.18  | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                | EastGroup Properties Inc                   | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     40881 | NS      | $7282541.34   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Enerpac Tool Group Corp                 | Enerpac Tool Group Corp                    | CUSIP: 292765104<br>LEI: IZW37BPZKUJE1QXGB081 | Long             | EC               | CORP              | US        |    114115 | NS      | $4363757.60   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Inc                              | Vertex Inc                                 | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |    454309 | NS      | $9072550.73   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp                       | FirstService Corp                          | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |     52956 | NS      | $8236246.68   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc                    | Generac Holdings Inc                       | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     16803 | NS      | $2291425.11   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                        | HealthEquity Inc                           | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |    221629 | NS      | $20303432.69  | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                               | IDEX Corp                                  | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     26575 | NS      | $4728755.50   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc                  | Power Integrations Inc                     | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |    111383 | NS      | $3958551.82   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                                 | SLB Ltd                                    | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     20531 | NS      | $787979.78    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc            | Simpson Manufacturing Co Inc               | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |     53624 | NS      | $8658667.28   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc                            | Woodward Inc                               | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |     18661 | NS      | $5641593.52   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc                          | MSA Safety Inc                             | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     59279 | NS      | $9492939.06   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc              | Mueller Water Products Inc                 | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |    136638 | NS      | $3254717.16   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc               | Prosperity Bancshares Inc                  | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    303153 | NS      | $20950903.83  | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC             | James Hardie Industries PLC                | CUSIP: N/A<br>LEI: 635400NSGXKTVOO7JU45       | Long             | EC               | CORP              | IE        |    148331 | NS      | $3077868.25   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SailPoint Inc                           | SailPoint Inc                              | CUSIP: 78781J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    109002 | NS      | $2205110.46   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                             | SI-BONE Inc                                | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |    390982 | NS      | $7710165.04   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                           | TopBuild Corp                              | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      6504 | NS      | $2713403.76   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Cor          | Zurn Elkay Water Solutions Corp            | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |    191304 | NS      | $8893722.96   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                             | Vaxcyte Inc                                | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |     82849 | NS      | $3822652.86   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Andersen Group Inc                      | Andersen Group Inc                         | CUSIP: 033853102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    182645 | NS      | $4735984.85   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc                    | BWX Technologies Inc                       | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     25501 | NS      | $4407592.84   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                              | Cactus Inc                                 | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     91537 | NS      | $4181410.16   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                   | Encompass Health Corp                      | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |    124642 | NS      | $13229501.88  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                               | Enpro Inc                                  | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |     45700 | NS      | $9785741.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc                      | Houlihan Lokey Inc                         | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |     22755 | NS      | $3963693.45   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc              | Neurocrine Biosciences Inc                 | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     21655 | NS      | $3071328.65   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Oceaneering International Inc           | Oceaneering International Inc              | CUSIP: 675232102<br>LEI: 549300L6PH74701W0R30 | Long             | EC               | CORP              | US        |    987524 | NS      | $23730201.72  | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corp                            | Parsons Corp                               | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |    128302 | NS      | $7929063.60   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp                  | Universal Display Corp                     | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96754 | NS      | $11298932.12  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                             | Novanta Inc                                | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83704 | NS      | $9959938.96   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutio          | Bright Horizons Family Solutions Inc       | CUSIP: 109194100<br>LEI: 2549009BKSVTM7UEYT38 | Long             | EC               | CORP              | US        |    134307 | NS      | $13618729.80  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpring Health Services I          | BrightSpring Health Services Inc           | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115805 | NS      | $4336897.25   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Hold          | CCC Intelligent Solutions Holdings Inc     | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3163460 | NS      | $25149507.00  | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc              | Casey's General Stores Inc                 | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     20479 | NS      | $11318948.09  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Confluent Inc                           | Confluent Inc                              | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Long             | EC               | CORP              | US        |    277192 | NS      | $8382286.08   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Rentokil Initial PLC                    | Rentokil Initial PLC                       | CUSIP: 760125104<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |      8624 | NS      | $254063.04    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc                    | SPX Technologies Inc                       | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |     35156 | NS      | $7033309.36   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc            | SiteOne Landscape Supply Inc               | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     51673 | NS      | $6436388.88   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                             | SiTime Corp                                | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29330 | NS      | $10359062.70  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software           | Take-Two Interactive Software Inc          | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      4150 | NS      | $1062524.50   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc                  | Valmont Industries Inc                     | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |     26388 | NS      | $10616420.16  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc                   | Waste Connections Inc                      | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |    127352 | NS      | $22332446.72  | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                               | Sanofi SA                                  | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |     14431 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Cytokinetics Inc                        | Cytokinetics Inc                           | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     86687 | NS      | $5508091.98   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                  | Guidewire Software Inc                     | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |     35542 | NS      | $7144297.42   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc                 | Mirion Technologies Inc                    | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |    256483 | NS      | $6006831.86   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Mister Car Wash Inc                     | Mister Car Wash Inc                        | CUSIP: 60646V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2190258 | NS      | $12177834.48  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON Inc                                | AAON Inc                                   | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    117530 | NS      | $8961662.50   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc               | Casella Waste Systems Inc                  | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |    102208 | NS      | $10010251.52  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc                     | Eagle Materials Inc                        | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     44007 | NS      | $9095366.76   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli          | First American Government Obligations Fund | CUSIP: 31846V567<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  12228817 | NS      | $12228817.41  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| OPENLANE Inc                            | OPENLANE Inc                               | CUSIP: 48238T109<br>LEI: 5493004HKD20LBSG7D03 | Long             | EC               | CORP              | US        |    413444 | NS      | $12312362.32  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp              | Lattice Semiconductor Corp                 | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |    167557 | NS      | $12328844.06  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| OrthoPediatrics Corp                    | OrthoPediatrics Corp                       | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Long             | EC               | CORP              | US        |    351132 | NS      | $6236104.32   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kestra Medical Technologies Lt          | Kestra Medical Technologies Ltd            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    258048 | NS      | $6843432.96   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

**Name of Applicant:** Brown Advisory Funds

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

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

**Title:** Principal Financial Officer