UNITED STATES

                   SECURITIES AND EXCHANGE COMMISSION

                                  WASHINGTON, D.C. 20549

                                   FORM N-Q

                   CERTIFIED SHAREHOLDER REPORT OF REGISTERED

                         MANAGEMENT INVESTMENT COMPANIES

                  Investment Company Act file number: 811-21829

                                    BBH TRUST

    BBH U.S. Treasury Money Fund

    BBH Money Market Fund

    BBH Tax Exempt Money Fund

               (Exact name of Registrant as specified in charter)

                140 Broadway,

                New York, NY  10005

               (Address of principal executive offices)

               Corporation Services Company,

               2711 Centerville Road, Suite 400, Wilmington,

               DE, 19808

               (Name and address of agent for service)

Registrant's telephone number, including area code: (212) 593-7237

Date of fiscal year end: JUNE 30

Date of reporting period: SEPTEMBER 30, 2008

ITEM 1. SCHEDULES OF INVESTMENTS.

BBH U.S. TREASURY MONEY FUND
PORTFOLIO OF INVESTMENTS
September 30, 2008 (unaudited)
	Principal
	Amount							Value
		U.S. TREASURY BILLS (a) (54.1%)
$	18,545,000	due 10/09/08, 0.077%						$	18,544,683
	7,410,000	due 10/16/08, 0.350%							7,408,919
	7,000,000	due 10/23/08, 0.500%							6,997,861
	5,000,000	due 10/30/08, 0.600%							4,997,583
	10,000,000	due 11/06/08, 1.593%							9,984,100
	13,140,000	due 11/20/08, 1.823%							13,107,024
	11,685,000	due 12/11/08, 1.750%							11,644,946
	8,410,000	due 01/02/09, 0.300%							8,403,482
	6,425,000	due 01/15/09, 1.727%							6,392,546
		Total U.S. Treasury Bills							87,481,144
		REPURCHASE AGREEMENTS (46.3%)
	25,000,000	Greenwich Capital Holdings, Inc. 0.100%, 10/01/08 (Agreement
		dated 09/30/08 collateralized by U.S. Treasury Note 3.125%,
		due 09/30/13, value $25,462,821)							25,000,000
	50,000,000	JPMorgan Chase & Co. 0.100%, 10/01/08 (Agreement dated
		9/30/2008 collateralized by U.S.Treasury Note 3.375%,
		due 10/15/09, value $50,966,474)							50,000,000
		Total Repurchase Agreements							75,000,000
TOTAL INVESTMENTS , AT AMORTIZED COST						100.4%		$	162,481,144
LIABILITIES IN EXCESS OF OTHER ASSETS						(0.4)			(664,326)
NET ASSETS						100.0%		$	161,816,818
(a)	Rates shown are yields to maturity at time of purchase.
Fair Value Measurements
The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value
Measurements ("FAS 157"), effective July 1, 2008. For net asset valuation determination purposes, various inputs are
used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below.
-	Level 1 - quoted prices in active markets for identical investments.
-	Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment
	speeds, credit risk, etc.)
-	Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
The following is a summary of the inputs used as of September 30, 2008 in valuing the Fund's investment carried at value:
					Investments in
	Valuation Inputs				Securities
	Level 1 - Quoted prices				$	0
	Level 2 - Other Significant Observable Inputs					162,481,144
	Level 3 - Significant Unobservable Inputs					0
	Total				$	162,481,144
Portfolio holdings are shown as of the date indicated.  Since market conditions fluctuate can suddenly and
frequently, the portfolio holdings may change and this list is not indicative of future portfolio composition.
These portfolio holdings are not intended to be and do not constitute recommendations that others buy,
sell, or hold any of the securities listed.
An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance
Corporation or any other government agency. Although money market funds seek to preserve the value of
your investment at $1.00 per share, it is possible to lose money by investing in these funds.
For more complete information on the fund, call 1-800-625-5759 for a prospectus or visit www.bbhfunds.com.
You should consider the fund's investment objectives, risks, charges, and expenses carefully before you invest.
Information about these and other important subjects is in the Fund's prospectus, which you should read
carefully before investing.
The BBH Funds are managed by a separately identifiable department within Brown Brothers Harriman & Co.
The Distributor is Edgewood Services, Inc. Date of first use: 11/08.
BBH MONEY MARKET FUND
PORTFOLIO OF INVESTMENTS
September 30, 2008 (unaudited)
	Principal			Maturity		Interest
	Amount			Date		Rate		Value
		CERTIFICATES OF DEPOSIT (4.8%)
$	17,500,000	Australia & New Zealand Banking Group		10/09/08		2.800	%	$	17,500,192
	21,500,000	Banco Bilbao Vizcaya Argentaria		12/16/08		2.745			21,500,225
	12,800,000	Bank of Montreal1		10/31/08		2.889			12,800,054
	10,000,000	Calyon, New York		10/10/08		2.790			10,000,172
	12,000,000	Calyon, New York1		01/16/09		2.771			11,990,808
	8,600,000	Royal Bank of Canada		02/02/09		5.290			8,672,103
	20,000,000	Wilmington Trust Co.		11/14/08		2.900			20,000,243
		Total Certificates of Deposit							102,463,797
		COMMERCIAL PAPER (38.4%)
	19,456,000	Ascension Health		10/08/08		2.207			19,447,677
	15,000,000	AT&T, Inc.		10/30/08		2.227			14,973,215
	15,000,000	Bank of America Corp.		11/12/08		2.678			14,953,450
	15,500,000	Barclays US Funding LLC		11/13/08		2.780			15,448,902
	22,800,000	Brown University		10/07/08		2.197			22,791,678
	8,000,000	Brown-Forman Beverages, Europe, Ltd.		10/06/08		2.364			7,997,389
	20,000,000	Brown-Forman Beverages, Europe, Ltd.		12/04/08		2.262			19,920,000
	18,100,000	Catholic Health Initiative		11/18/08		2.680			18,100,000
	15,000,000	CBA (Delaware) Finance		11/12/08		2.612			14,954,500
	19,917,000	City of Chicago, IIIinois		02/02/09		2.999			19,718,051
	40,000,000	Columbia University		10/07/08		2.467			39,983,665
	20,000,000	ConocoPhillips Co.		10/10/08		2.157			19,989,250
	20,000,000	ConocoPhillips Co.		10/29/08		2.232			19,965,467
	15,000,000	Cornell University		10/09/08		2.204			14,992,667
	10,000,000	Danske Corp.		10/14/08		2.561			9,990,792
	10,000,000	Danske Corp.		11/13/08		2.697			9,967,989
	12,925,000	De Kalb County, Georgia Development Authority Revenue		12/03/08		2.600			12,925,000
	25,000,000	FPL Group Capital, Inc.		10/15/08		3.460			24,966,458
	20,000,000	General Electric Capital Corp.		11/21/08		2.464			19,930,583
	15,000,000	Hartford Financial Services Group, Inc.		12/10/08		2.364			14,931,458
	22,000,000	Hewlett-Packard Co.		10/02/08		2.186			21,998,668
	20,000,000	HSBC USA, Inc.		11/03/08		2.699			19,950,867
	11,253,000	ING (US) Funding LLC		10/07/08		2.560			11,248,218
	15,000,000	ING (US) Funding LLC		11/10/08		2.718			14,955,000
	16,000,000	John Deere Capital Corp		10/02/08		2.168			15,999,040
	40,075,000	Los Angeles Department of Airports		10/01/08		2.606			40,075,000
	12,800,000	Michigan State		10/28/08		4.900			12,800,000
	15,000,000	National Australia Funding (Delaware), Inc.		10/01/08		2.685			15,000,000
	30,021,000	Nebraska Public Power District		10/08/08		2.667			30,005,706
	33,000,000	Rabobank USA Financial Corp.		10/01/08		0.200			33,000,000
	20,000,000	Rabobank USA Financial Corp.		11/26/08		2.678			19,917,244
	13,500,000	Rutgers, State University of New Jersey		10/15/08		2.800			13,500,000
	20,000,000	Societe Generale		11/26/08		2.789			19,913,822
	20,000,000	Stanford University		10/09/08		2.206			19,990,222
	15,000,000	Stanley Works		10/07/08		2.342			14,994,175
	25,000,000	State of North Carolina		11/05/08		2.900			25,000,000
	40,000,000	Trinity Health Corp.		10/03/08		2.445			39,994,578
	30,000,000	UBS Finance Delaware LLC		10/01/08		3.000			30,000,000
	20,000,000	UBS Finance Delaware LLC		10/08/08		2.661			19,989,694
	5,375,000	University of Michigan		11/13/08		2.650			5,375,000
	40,000,000	Yale University		10/07/08		2.467			39,983,665
		Total Commercial Paper							819,639,090
		CORPORATE BONDS (12.0%)
	10,700,000	Associates Corp. of North America		11/01/08		6.250			10,711,970
	8,620,000	Associates Corp. of North America		11/15/08		6.875			8,656,592
	8,000,000	Bank of America Corp.		02/15/09		5.875			8,071,441
	5,000,000	BellSouth Corp.		09/15/09		4.200			5,038,481
	10,000,000	Caterpillar Financial Services Corp.1		05/18/09		2.867			9,997,476
	5,100,000	Citicorp		11/15/08		6.375			5,115,778
	3,445,000	ConocoPhillips Co.		03/30/09		6.375			3,502,802
	4,300,000	Credit Suisse USA, Inc.		01/15/09		3.875			4,311,337
BBH MONEY MARKET FUND
PORTFOLIO OF INVESTMENTS (continued)
September 30, 2008 (unaudited)
	Principal			Maturity		Interest
	Amount			Date		Rate		Value
		CORPORATE BONDS (continued)
$	3,341,000	Credit Suisse USA, Inc.		06/01/09		4.700	%	$	3,371,325
	3,900,000	Fleet National Bank		01/15/09		5.750			3,929,525
	1,447,000	General Electric Capital Corp.		10/15/08		3.600			1,446,433
	3,250,000	General Electric Capital Corp.1		10/24/08		2.795			3,249,951
	3,400,000	Goldman Sachs Group, Inc.1		12/22/08		3.294			3,397,486
	2,600,000	Goldman Sachs Group, Inc.1		12/23/08		3.250			2,597,899
	6,247,000	Goldman Sachs Group, Inc.1		03/24/09		3.278			6,238,869
	12,000,000	Hartford Financial Services Group, Inc.		11/01/08		6.375			12,029,272
	15,000,000	Hewlett-Packard Co.1		06/15/09		2.829			14,993,395
	4,300,000	HSBC Finance Corp.		12/15/08		4.125			4,298,944
	5,000,000	HSBC Finance Corp.		05/15/09		4.750			5,042,074
	10,000,000	IBM International Group Capital LLC1		07/29/09		3.133			10,029,771
	4,300,000	JP Morgan Chase & Co.		10/15/08		5.750			4,301,680
	17,100,000	JP Morgan Chase & Co.1		12/22/08		3.254			17,092,645
	4,760,000	JP Morgan Chase & Co.		01/15/09		6.000			4,799,409
	8,600,000	National Rural Utilities Cooperative Finance Corp.		12/01/08		5.750			8,625,235
	19,600,000	Pioneer Hi-Bred International, Inc.		01/15/09		5.750			19,755,880
	6,000,000	PNC Bank NA1		12/29/08		3.669			5,995,322
	8,600,000	PNC Funding Corp.		02/15/09		6.125			8,683,862
	2,100,000	US Bancorp		04/28/09		5.300			2,129,414
	15,000,000	US Bank NA1		09/10/09		2.914			15,000,000
	21,400,000	Wachovia Bank NA1		10/03/08		2.070			21,399,498
	8,600,000	Wachovia Bank NA		12/01/08		5.800			8,634,433
	4,300,000	Wells Fargo & Co.1		10/31/08		2.546			4,299,497
	5,000,000	Wells Fargo & Co.1		08/03/09		7.130			4,973,633
	4,450,000	Westpac Banking Corp.1		08/14/09		3.089			4,448,742
		Total Corporate Bonds							256,170,071
		MUNICIPAL BONDS (0.5%)
	10,400,000	Savannah College of Art & Design1		10/02/08		6.000			10,400,000
		U.S. GOVERNMENT AGENCY
		OBLIGATIONS (6.2%)
	4,300,000	Federal Farm Credit Bank		06/15/09		3.950			4,344,981
	8,000,000	Federal Farm Credit Bank		08/03/09		5.250			8,164,544
	62,000,000	Federal Home Loan Bank		10/01/08		0.100			62,000,000
	4,300,000	Federal Home Loan Bank		11/21/08		4.625			4,312,849
	7,940,000	Federal Home Loan Bank		04/21/09		2.350			7,932,310
	8,600,000	Federal Home Loan Bank		05/07/09		2.750			8,600,000
	8,600,000	Federal Home Loan Bank		05/13/09		2.375			8,590,448
	15,000,000	Federal National Mortgage Assoc.		11/12/08		2.445			14,957,475
	12,800,000	FHLMC		05/18/09		2.500			12,800,000
		Total U.S. Government Agency Obligations							131,702,607
		TIME DEPOSITS (16.5%)
	50,000,000	Bank of Montreal		10/01/08		1.000			50,000,000
	50,000,000	Branch Banking & Trust Co.		10/01/08		1.000			50,000,000
	50,000,000	Canadian Imperial Bank of Commerce		10/01/08		1.500			50,000,000
	50,000,000	Dresdner Bank AG		10/01/08		5.000			50,000,000
	42,200,000	HSBC Bank		10/01/08		0.125			42,200,000
	60,000,000	Toronto Dominion Bank		10/01/08		0.500			60,000,000
	50,000,000	Wells Fargo & Co.		10/01/08		1.680			50,000,000
		Total Time Deposits							352,200,000
		REPURCHASE AGREEMENTS (23.4%)
	100,000,000	BNP Paribas (Agreement dated 09/30/08
		collateralized by FNMA 6.000%, due 03/01/37,
		value $102,000,001)		10/01/08		1.150			100,000,000
	100,000,000	Deutsche Bank (Agreement dated 09/30/08
		collateralized by FMAC 4.000%-7.000%,
		due 09/01/32-07/01/38, value $19,892,441)
		and FNMA 4.000%-8.500%, due 01/01/23-03/01/48
		value $82,107,559)		10/01/08		2.500			100,000,000
BBH MONEY MARKET FUND
PORTFOLIO OF INVESTMENTS (continued)
September 30, 2008 (unaudited)
	Principal			Maturity		Interest
	Amount			Date		Rate		Value
		REPURCHASE AGREEEMENTS (continued)
$	75,000,000	Greenwich Capital Holdings, Inc. (Agreement dated
		09/30/08 collateralized by U.S. Treasury Notes
		3.500%-4.088%, due 08/15/09, value $76,524,399)		10/01/08		0.100	%	$	75,000,000
	75,000,000	Merrill Lynch & Co., Inc. (Agreement dated 09/30/08
		collateralized by U.S.Treasury Note 1.955%,
		due 09/24/09, value $76,475,655)		10/01/08		0.050			75,000,000
	75,000,000	Royal Bank of Canada (Agreement dated
		09/30/08 collateralized by FMAC 5.000%-6.000%,
		due 01/01/19-09/01/38, value $20,442,092;
		FNMA 5.000%-6.000%, due 11/01/18-08/01/38
		value $35,957,641; and GNMA 4.500%-5.000%,
		due 08/20/38-09/20/38, value $20,100,267)		10/01/08		2.250			75,000,000
	75,000,000	Societe Generale (Agreement dated 09/30/08
		collateralized by FNMA 5.500%, due 07/01/38,
		value $76,500,001)		10/01/08		1.750			75,000,000
		Total Repurchase Agreements							500,000,000
TOTAL INVESTMENTS AT AMORTIZED COST						101.8%		$	2,172,575,565
LIABILITIES IN EXCESS OF CASH AND OTHER ASSETS						(1.8)			(38,432,787)
NET ASSETS						100.0%		$	2,134,142,778
1	Variable rate instrument. Interest rates change on specific dates (such as coupon or interest payment date). The yield shown
	represents the September 30, 2008 coupon or interest rate.
	Abbreviations:
	FHLMC - Federal Home Loan Mortgage Corporation
	FMAC    - Financial Markets Association of Canada
	FNMA    - Federal National Mortgage Association
	GNMA   - Government National Mortgage Association
Fair Value Measurements
The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value
Measurements ("FAS 157"), effective July 1, 2008. For net asset valuation determination purposes, various inputs are
used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below.
-	Level 1 - quoted prices in active markets for identical investments.
-	Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment
	speeds, credit risk, etc.)
-	Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
The following is a summary of the inputs used as of September 30, 2008 in valuing the Fund's investment carried at value:
			Investments in
	Valuation Inputs		Securities
	Level 1 - Quoted prices		$	0
	Level 2 - Other Significant Observable Inputs			2,172,575,565
	Level 3 - Significant Unobservable Inputs			0
	Total		$	2,172,575,565
	Portfolio holdings are shown as of the date indicated.  Since market conditions can fluctuate suddenly and
	frequently, the portfolio holdings may change and this list is not indicative of future portfolio composition.
	These portfolio holdings are not intended to be and do not constitute recommendations that others buy,
	sell, or hold any of the securities listed.
	An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance
	Corporation or any other government agency. Although money market funds seek to preserve the value of
	your investment at $1.00 per share, it is possible to lose money by investing in these funds.
	For more complete information on the fund, call 1-800-625-5759 for a prospectus or visit www.bbhfunds.com.
	You should consider the fund's investment objectives, risks, charges, and expenses carefully before you invest.
	Information about these and other important subjects is in the Fund's prospectus, which you should read
	carefully before investing.
	The BBH Funds are managed by a separately identifiable department within Brown Brothers Harriman & Co.
	The Distributor is Edgewood Services, Inc. Date of first use: 11/08.
BBH TAX EXEMPT MONEY FUND
PORTFOLIO OF INVESTMENTS
September 30, 2008 (unaudited)
	Principal			Maturity		Interest
	Amount			Date		Rate		Value
		MUNICIPAL BONDS (84.6%)
		CERTIFICATES OF PARTICIPATION (3.2%)
$	4,000,000	Mecklenburg County, North Carolina1		10/02/08		7.250	%	$	4,000,000
	4,500,000	Mecklenburg County, North Carolina1		10/02/08		7.480			4,500,000
	2,065,000	North Carolina Infrastructure Finance Corp.		05/01/09		5.000			2,104,940
	2,000,000	Raleigh, North Carolina1		10/01/08		7.980			2,000,000
	4,000,000	Winston-Salem, North Carolina1		08/01/09		7.470			4,000,000
		Total Certificates of Participation							16,604,940
		EDUCATION (16.3%)
	2,010,000	Arizona State Board of Regents		06/01/09		4.000			2,042,731
	7,000,000	Colorado Springs, Colorado1		10/01/08		6.250			7,000,000
	900,000	Connecticut State Health & Educational Facilities Authority1		10/01/08		3.750			900,000
	5,000,000	Delaware State Economic Development Authority1		10/02/08		7.250			5,000,000
	3,000,000	Massachusetts State Health & Educational Facilities Authority1		10/02/08		7.840			3,000,000
	4,400,000	Missouri State Health & Educational Facilities Authority1		10/01/08		4.250			4,400,000
	4,000,000	Missouri State Health & Educational Facilities Authority1		10/01/08		7.000			4,000,000
	8,000,000	Missouri State Health & Educational Facilities Authority1		10/01/08		7.000			8,000,000
	9,000,000	New Hampshire Health & Education Facilities Authority1		10/01/08		4.750			9,000,000
	5,000,000	North Carolina Educational Facilities Finance Agency1		10/02/08		7.950			5,000,000
	500,000	Northampton County, Pennsylvania, General Purpose Authority1		10/02/08		7.850			500,000
	4,000,000	Pennsylvania State Higher Educational Facilities Authority1		10/01/08		8.000			4,000,000
	3,320,000	University of Delaware1		10/01/08		5.000			3,320,000
	2,800,000	University of Missouri1		10/01/08		4.250			2,800,000
	3,000,000	University of Pittsburgh1		10/01/08		9.000			3,000,000
	6,100,000	University of Pittsburgh1		10/02/08		8.500			6,100,000
	2,500,000	University of Texas1		10/02/08		7.500			2,500,000
	1,000,000	University of Texas		08/15/09		5.000			1,029,634
	8,000,000	Virginia College Building Authority, Educational Facilities Revenue1		10/01/08		7.000			8,000,000
	5,000,000	Virginia Commonwealth University1		10/02/08		4.000			5,000,000
		Total Education							84,592,365
		GENERAL OBLIGATIONS (29.2%)
	5,000,000	Allen, Texas, Independent School District1		10/02/08		5.250			5,000,000
	1,145,000	Anne Arundel County, Maryland		04/01/09		4.000			1,157,097
	2,310,000	Anne Arundel County, Maryland		04/01/09		4.000			2,334,406
	1,755,000	Clark County, Nevada, School District1		10/01/08		4.350			1,755,000
	1,280,000	Clyde Consolidated Independent School District		02/15/09		3.500			1,289,070
	3,900,000	Cuyahoga County, Ohio1		10/01/08		4.250			3,900,000
	6,300,000	Cuyahoga County, Ohio1		10/01/08		4.250			6,300,000
	4,000,000	Denton, Texas, Independent School District1		10/02/08		7.980			4,000,000
	500,000	Durham, North Carolina		02/01/09		5.000			505,462
	1,000,000	Fairfax County, Virginia		04/01/09		5.250			1,015,697
	2,500,000	Forsyth County, North Carolina1		10/02/08		7.940			2,500,000
	1,000,000	Greensboro, North Carolina1		10/02/08		7.250			1,000,000
	2,520,000	Greensboro, North Carolina		03/01/09		5.250			2,554,614
	4,000,000	Guilford County, North Carolina1		10/02/08		7.250			4,000,000
	3,100,000	Howard County, Maryland		02/15/09		4.000			3,125,121
	3,025,000	Howard County, Maryland		02/15/09		4.250			3,051,120
	1,300,000	Keller, Texas, Independent School District1		10/01/08		4.500			1,300,000
	1,235,000	Kent County, Michigan		11/01/08		5.000			1,238,401
	2,000,000	King County, Washington, School District No. 412		12/01/08		5.000			2,011,016
	2,610,000	Klein, Texas, Independent School District		08/01/09		3.500			2,647,935
	2,000,000	Mecklenburg County, North Carolina1		10/01/08		7.940			2,000,000
	3,500,000	Mecklenburg County, North Carolina1		10/01/08		7.940			3,500,000
	5,000,000	Mecklenburg County, North Carolina1		10/02/08		7.200			5,000,000
	1,000,000	Mecklenburg County, North Carolina1		10/02/08		7.480			1,000,000
	1,415,000	Mecklenburg County, North Carolina		02/01/09		5.000			1,430,940
	1,205,000	Minneapolis, Minnesota		12/01/08		3.000			1,207,272
	2,450,000	Minneapolis, Minnesota, Special School District No. 1		02/01/09		4.000			2,468,646
	1,900,000	Montgomery County, Maryland1		10/01/08		7.000			1,900,000
	2,710,000	New Castle County, Delaware		07/15/09		4.000			2,760,844
BBH TAX EXEMPT MONEY FUND
PORTFOLIO OF INVESTMENTS (continued)
September 30, 2008 (unaudited)
	Principal			Maturity		Interest
	Amount			Date		Rate		Value
		MUNICIPAL BONDS (continued)
		GENERAL OBLIGATIONS (continued)
$	2,000,000	New York, New York1		10/01/08		5.200	%	$	2,000,000
	3,000,000	Port Tacoma, Washington1		10/01/08		6.250			3,000,000
	3,000,000	Shaler Area, Pennsylvania, School District1		10/02/08		7.630			3,000,000
	5,000,000	State of Connecticut		02/01/09		3.000			5,024,841
	3,915,000	State of Delaware		01/01/09		5.000			3,948,888
	500,000	State of Delaware		03/01/09		4.250			505,325
	2,500,000	State of Georgia		12/01/08		5.000			2,513,488
	3,250,000	State of Georgia		12/01/08		5.000			3,264,686
	4,620,000	State of Georgia		07/01/09		5.750			4,762,835
	1,700,000	State of Illinois1		10/01/08		7.750			1,700,000
	5,000,000	State of Maryland		02/01/09		5.000			5,057,620
	1,000,000	State of Maryland		03/01/09		5.250			1,013,235
	1,550,000	State of Massachusetts1		10/01/08		4.500			1,550,000
	2,500,000	State of Massachusetts1		10/01/08		7.900			2,500,000
	1,575,000	State of Minnesota		10/01/08		5.000			1,575,000
	4,000,000	State of North Carolina1		10/01/08		7.910			4,000,000
	7,000,000	State of North Carolina		03/01/09		5.000			7,096,357
	800,000	State of North Carolina		03/01/09		5.250			810,712
	1,750,000	State of Ohio		05/01/09		5.500			1,786,947
	1,810,000	State of Oregon1		10/01/08		7.000			1,810,000
	2,000,000	State of Oregon1		10/01/08		7.000			2,000,000
	7,000,000	State of Texas		08/28/09		3.000			7,088,681
	3,000,000	Union County, North Carolina1		10/02/08		7.250			3,000,000
	1,355,000	Virginia Beach, Virginia		10/01/08		5.000			1,355,000
	1,500,000	Virginia Beach, Virginia		03/01/09		5.250			1,522,561
	2,225,000	Virginia State Public School Authority		07/15/09		4.000			2,264,722
	1,000,000	Wake County, North Carolina1		10/02/08		7.470			1,000,000
	3,000,000	Wake County, North Carolina1		10/02/08		7.470			3,000,000
	2,000,000	Wake County, North Carolina1		10/02/08		7.900			2,000,000
		Total General Obligations							152,103,539
		GOVERNMENT COLLATERAL (7.4%)
	1,175,000	Frederick County, Maryland		07/01/09		5.250			1,216,771
	1,660,000	Gainesville & Hall County, Georgia, Hospital Authority		05/15/09		5.200			1,712,194
	1,855,000	Houston, Texas, Independent School District		02/15/09		4.750			1,877,057
	2,525,000	Houston, Texas, Independent School District		02/15/09		5.250			2,559,675
	3,000,000	Houston, Texas, Independent School District		02/15/09		5.250			3,037,573
	4,070,000	Nashville & Davidson County, Tennessee		05/15/09		5.125			4,198,908
	2,530,000	New York State Tollway Authority Highway & Bridge Trust Fund		04/01/09		5.250			2,570,508
	1,000,000	New York, New York, City Transitional Finance Authority		11/01/08		5.000			1,001,585
	1,000,000	New York, New York, City Transitional Finance Authority		11/01/08		5.000			1,001,669
	1,500,000	North Carolina Medical Care Commission		12/01/08		5.000			1,522,613
	1,135,000	North Texas Tollway Authority		01/01/09		5.000			1,143,136
	1,000,000	Oklahoma Turnpike Authority		01/01/09		5.250			1,008,060
	3,000,000	Roswell, Georgia		02/01/09		5.500			3,069,005
	5,000,000	Salem-Keizer, Oregon, School District No. 24		06/01/09		5.000			5,110,650
	1,000,000	State of Michigan		11/01/08		5.000			1,002,621
	2,520,000	State of Minnesota		11/01/08		5.000			2,526,606
	2,940,000	State of Minnesota		11/01/08		5.000			2,947,753
	1,140,000	Texas State Public Finance Authority Revenue		12/15/08		5.000			1,147,759
		Total Government Collateral							38,654,143
		HEALTH CARE1 (9.6%)
	5,000,000	Colorado Health Facilities Authority Revenue		10/01/08		7.980			5,000,000
	3,500,000	Greenville, South Carolina, Hospital Facilities Revenue		10/02/08		7.250			3,500,000
	5,000,000	Harris County, Texas, Health Facilities Revenue		10/01/08		4.250			5,000,000
	3,000,000	Harris County, Texas, Health Facilities Revenue		10/01/08		4.600			3,000,000
	2,000,000	North Carolina Medical Care Commission		10/01/08		7.910			2,000,000
	3,000,000	North Carolina Medical Care Commission		10/01/08		9.000			3,000,000
	7,900,000	Philadelphia, Pennsylvania, Hospitals & Higher Education
		Facilities Authority		10/01/08		7.000			7,900,000
BBH TAX EXEMPT MONEY FUND
PORTFOLIO OF INVESTMENTS (continued)
September 30, 2008 (unaudited)
	Principal			Maturity		Interest
	Amount			Date		Rate		Value
		MUNICIPAL BONDS (continued)
		HEALTH CARE1 (continued)
$	5,700,000	Royal Oak, Michigan, Hospital Finance Authority		10/01/08		4.850	%	$	5,700,000
	6,850,000	Royal Oak, Michigan, Hospital Finance Authority		10/01/08		9.000			6,850,000
	6,000,000	University of North Carolina Hospital Chapel Hill Revenue		10/01/08		4.500			6,000,000
	2,000,000	Washington Health Care Facilities Authority Revenue		10/01/08		8.350			2,000,000
		Total Health Care							49,950,000
		INDUSTRIAL (0.3%)
	1,750,000	Delaware County, Pennsylvania, Industrial Development Authority1		10/01/08		6.250			1,750,000
		Total Industrial							1,750,000
		MISCELLANEOUS (7.4%)
	7,000,000	Connecticut State Housing Finance Authority1		10/02/08		7.950			7,000,000
	1,000,000	Maine Municipal Bond Bank		11/01/08		5.000			1,002,337
	6,100,000	Massachusetts State Development Finance Agency Revenue1		10/01/08		3.750			6,100,000
	6,000,000	Missouri State Development Finance Board1		10/01/08		4.250			6,000,000
	2,605,000	Monmouth County, New Jersey, Improvement Authority Revenue		10/01/08		4.500			2,605,000
	1,500,000	New York, New York, City Transitional Finance Authority1		10/01/08		4.150			1,500,000
	3,040,000	Palm Beach County, Florida, Public Improvement Revenue		11/01/08		4.000			3,041,900
	5,000,000	South Dakota Housing Development Authority1		10/02/08		8.000			5,000,000
	1,000,000	South Dakota State Building Authority		06/01/09		4.000			1,014,881
	5,000,000	Virginia State Public Building Authority		08/01/09		5.000			5,137,402
		Total Miscellaneous							38,401,520
		TRANSPORTATION (4.8%)
	4,900,000	Illinois State Toll Highway Authority Revenue1		10/02/08		7.250			4,900,000
	7,000,000	Kansas State Department of Transportation & Highway Revenue1		10/02/08		8.000			7,000,000
	3,000,000	Maryland State Department of Transportation		03/01/09		5.000			3,038,059
	3,000,000	Mississippi State Highway Revenue		06/01/09		5.250			3,070,264
	4,000,000	South Carolina Transportation Infrastructure Bank Revenue1		10/01/08		4.400			4,000,000
	3,000,000	Triborough Bridge & Tunnel Authority, New York, Revenue1		10/01/08		7.830			3,000,000
		Total Transportation							25,008,323
		UTILITIES1 (2.8%)
	3,000,000	Colorado Springs, Colorado, Utilities Revenue		10/02/08		8.150			3,000,000
	4,000,000	Snohomish County, Washington, Public Utility District No. 1		10/01/08		8.050			4,000,000
	7,800,000	Upper Merion, Pennsylvania, Municipal Utility Authority		10/02/08		8.040			7,800,000
		Total Utilities							14,800,000
		WATER/SEWER (3.6%)
	4,000,000	Charleston, South Carolina, Waterworks & Sewer Revenue1		10/02/08		7.250			4,000,000
	7,000,000	Gwinnett County, Georgia, Water & Sewer Authority1		10/01/08		7.500			7,000,000
	1,055,000	Iowa State Finance Authority Revenue		02/01/09		5.000			1,065,448
	400,000	Las Vegas Valley, Nevada, Water District1		10/01/08		6.250			400,000
	1,000,000	Michigan Municipal Bond Authority Revenue		10/01/08		5.000			1,000,000
	5,000,000	Texas Water Development Board Revenue1		10/01/08		5.000			5,000,000
		Total Water/Sewer							18,465,448
		Total Municipal Bonds							440,330,278
		COMMERCIAL PAPER (13.6%)
	2,315,000	Board of Regents of the Texas A&M University		10/16/08		1.500			2,315,000
	4,000,000	Board of Regents of the Texas A&M University		11/06/08		1.600			4,000,000
	5,000,000	City of Houston, Texas		10/21/08		1.700			5,000,000
	5,000,000	Connecticut State Health Authority		10/20/08		1.670			5,000,000
	2,850,000	Harris County, Texas		12/03/08		1.690			2,850,000
	1,500,000	King County, Washington		11/03/08		1.600			1,500,000
	6,300,000	King County, Washington		12/09/08		1.680			6,300,000
	3,000,000	Maryland State Health & Higher Educational Facilities Authority		10/17/08		1.420			3,000,000
	3,000,000	Memphis, Tennessee		11/13/08		1.600			3,000,000
	2,000,000	Montgomery County, Pennsylvania		10/02/08		1.560			2,000,000
	2,370,000	Municipal Electric Authority of Georgia		10/15/08		1.580			2,370,000
	2,300,000	Municipal Electric Authority of Georgia		12/11/08		1.620			2,300,000
BBH TAX EXEMPT MONEY FUND
PORTFOLIO OF INVESTMENTS (continued)
September 30, 2008 (unaudited)
	Principal			Maturity		Interest
	Amount			Date		Rate		Value
		COMMERCIAL PAPER (continued)
$	4,000,000	Nebraska Public Power District		10/14/08		1.650	%	$	4,000,000
	5,500,000	North Texas Tollway Authority		10/09/08		1.600			5,500,000
	2,000,000	South Carolina Public Service Authority		11/05/08		1.650			2,000,000
	3,380,000	South Carolina Public Service Authority		12/01/08		1.650			3,380,000
	5,000,000	Tennessee State School Bond		11/03/08		1.600			5,000,000
	2,500,000	Tennessee State School Bond		11/04/08		1.600			2,500,000
	4,000,000	Tennessee State School Bond		12/01/08		1.500			4,000,000
	1,000,000	Texas Public Finance Authority		10/07/08		1.580			1,000,000
	2,500,000	Texas Public Finance Authority		12/04/08		1.600			2,500,000
	1,550,000	Texas Public Finance Authority		01/08/09		1.750			1,550,000
		Total Commercial Paper							71,065,000
TOTAL INVESTMENTS, AT AMORTIZED COST						98.2%		$	511,395,278
OTHER ASSETS IN EXCESS OF LIABILITIES						1.8			9,186,642
NET ASSETS						100.0%		$	520,581,920
1	Variable rate instrument. Interest rates change on specific dates (such as coupon or interest payment date). The yield
	shown represents the September 30, 2008 coupon or interest rate.
Fair Value Measurements
The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value
Measurements ("FAS 157"), effective July 1, 2008. For net asset valuation determination purposes, various inputs are
used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below.
-	Level 1 - quoted prices in active markets for identical investments.
-	Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment
	speeds, credit risk, etc.)
-	Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
The following is a summary of the inputs used as of September 30, 2008 in valuing the Fund's investment carried at value:
			Investments in
	Valuation Inputs		Securities
	Level 1 - Quoted prices		$	0
	Level 2 - Other Significant Observable Inputs			511,395,278
	Level 3 - Significant Unobservable Inputs			0
	Total		$	511,395,278
	Portfolio holdings are shown as of the date indicated.  Since market conditions can fluctuate suddenly and
	frequently, the portfolio holdings may change and this list is not indicative of future portfolio composition.
	These portfolio holdings are not intended to be and do not constitute recommendations that others buy,
	sell, or hold any of the securities listed.
	An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance
	Corporation or any other government agency. Although money market funds seek to preserve the value of
	your investment at $1.00 per share, it is possible to lose money by investing in these funds.
	For more complete information on the fund, call 1-800-625-5759 for a prospectus or visit www.bbhfunds.com.
	You should consider the fund's investment objectives, risks, charges, and expenses carefully before you invest.
	Information about these and other important subjects is in the Fund's prospectus, which you should read
	carefully before investing.
	The BBH Funds are managed by a separately identifiable department within Brown Brothers Harriman & Co.
	The Distributor is Edgewood Services, Inc. Date of first use: 11/08.

ITEM 2. CONTROLS AND PROCEDURES.

(a)  Based upon their evaluation of the Registrant's disclosure controls

     and procedures as conducted within 90 days of the filing date of this

     Form N-Q, the Registrant's principal financial officer and principal

     executive officer have concluded that those disclosure controls and

     procedures provide reasonable assurance that the material information

     required to be disclosed by the Registrant on this report is recorded,

     processed, summarized and reported within the time periods specified

     in the Securities and Exchange Commission's rules and forms.

(b) There were no significant changes in the Registrant's internal

    controls over financial reporting or in other factors that occurred

    during the Registrant’s last fiscal quarter that has materially

    affected, or is reasonably likely to materially affect, the

    Registrant’s internal control over financial reporting.

ITEM 3. EXHIBITS.

(a) The certifications required by Rule 30a-2(a)under the Act are

    attached as exhibit 3(b).

EXHIBIT 3 (b)

SECTION 302 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER.

I, John A. Gehret, certify that:

1. I have reviewed this report on Form N-Q of BBH Trust on behalf of:

   BBH U.S. Treasury Money Fund, BBH Money Market Fund, and BBH Tax

   Exempt Money Fund ("Registrant");

2. Based on my knowledge, this report does not contain any untrue

   statement of a material fact or omit to state a material fact

   necessary to make the statements made, in light of the circumstances

   under which such statements were made, not misleading with respect

   to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in

   this report, fairly present in all material respects the investments

   of the Registrant as of the end of the fiscal quarter for which

   the report is filed;

4. The Registrant's other certifying officer and I are responsible

   for establishing and maintaining disclosure controls and procedures

   (as defined in Rule 30a-3(c) under the Investment Company Act of

   1940) and internal control over financial reporting (as defined in

   Rule 30a-3(d) under the Investment Company Act of 1940) for the

   Registrant and have:

    a.) designed such disclosure controls and procedures, or caused

          such disclosure controls and procedures to be designed under

          our supervision, to ensure that material information relating

          to the Registrant, including its consolidated subsidiaries,

          is made known to us by others within those entities,

          particularly during the period in which this report is being 

          prepared;

    b.) designed such internal control over financial reporting, or

          caused such  internal control over financial reporting to be

          designed under our supervision, to provide reasonable

          assurance regarding the reliability of financial reporting

          and the preparation of financial statements for external

          purposes in accordance with generally accepted accounting

          principles;

   c.)  evaluated the effectiveness of the Registrant's disclosure

         controls and procedures and presented in this report our

         conclusions about the effectiveness of the disclosure controls

         and procedures, as of a date within 90 days prior to the filing

         date of this report based on such evaluation; and

   d.)  disclosed in this report any change in the Registrant's

          internal control over financial reporting that occurred during

          the Registrant's most recent fiscal quarter that has materially

         affected, or is reasonably likely to materially affect, the

         Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer and I have disclosed

   to the Registrant's auditors and the audit committee of the

   Registrant's board of directors (or persons performing the

   equivalent functions):

   a.  all significant deficiencies and material weaknesses in the

        design or operation of internal control over financial

        reporting which are reasonably likely to adversely affect

        the Registrant's ability to record, process, summarize,

        and report financial information; and

   b. any fraud, whether or not material, that involves management

       or other employees who have a significant role in the

       Registrant's internal control over financial reporting.

Date: 11/26/08

                                   /s/ John A. Gehret

                         =======================

                                    John A. Gehret

                  President - Principal Executive Officer

EXHIBIT 3(b) (2)

SECTION 302 CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER.

I, Charles H. Schreiber, certify that:

1. I have reviewed this report on Form N-Q of BBH Trust on behalf

   of: BBH U.S. Treasury Money Fund, BBH Money Market Fund, and

   BBH Tax Exempt Money Fund ("Registrant");

2. Based on my knowledge, this report does not contain any untrue

    statement of a material fact or omit to state a material fact

    necessary to make the statements made, in light of the

    circumstances under which such statements were made, not

    misleading with respect to  the period covered by this report;

3. Based on my knowledge, the schedules of investments included in

    this report, fairly present in all material respects the investments

    of the Registrant as of the end of the fiscal quarter for which

    the report is filed;

4.  The Registrant's other certifying officer and I are responsible for

    establishing and maintaining disclosure controls and procedures

    (as defined in Rule 30a-3(c) under the Investment Company Act of

    1940) and internal control over financial reporting (as defined

    in Rule 30a-3(d)under the Investment Company Act of 1940) for the

    Registrant and have:

   a.)  designed such disclosure controls and procedures, or caused

         such disclosure controls and procedures to be designed under

         our supervision, to ensure that material information relating

         to the Registrant, including its consolidated subsidiaries,

         is made known to us by others within those entities,

         particularly during the period in which this report is being

         prepared;

   b.) designed such internal control over financial reporting, or 

         caused such internal control over financial reporting to be

         designed under our supervision, to provide reasonable assurance

         regarding the reliability of financial reporting and the

         preparation of financial statements for external purposes in

         accordance with generally accepted accounting principles;

   c.)  evaluated the effectiveness of the Registrant's disclosure

         controls and procedures and presented in this report our

         conclusions about the effectiveness of the disclosure

         controls and procedures, as of a date within 90 days prior

         to the filing date of this report based on such evaluation; and

   d.)  disclosed in this report any change in the Registrant's

          internal control over financial reporting that occurred

          during the Registrant's most recent fiscal quarter that

          has materially affected, or is reasonably likely to

          materially affect, the Registrant's internal control over

          financial reporting; and

5.  The Registrant's other certifying officer and I have disclosed

     to the Registrant's auditors and the audit committee of the

     Registrant's board of directors (or persons performing the

     equivalent functions):

   a.   all significant deficiencies and material weaknesses in the

         design or operation of internal control over financial

         reporting which are reasonably likely to adversely affect

         the Registrant's ability to record, process, summarize, and

         report financial information; and

   b.  any fraud, whether or not material, that involves management

        or other employees who have a significant role in the

        Registrant's internal control over financial reporting.

Date: 11/26/08

                                     /s/ Charles H. Schreiber

                        ==========================

                                     Charles H. Schreiber

                       Treasurer - Principal Financial Officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934

and the Investment Company Act of 1940, the Registrant has duly

caused this report to be signed on its behalf by the undersigned,

thereunto duly authorized.

(Registrant)                                            BBH TRUST

                                                         -----------------------------

By (Signature and Title)*             /s/ John A. Gehret

                                                         ---------------------------

                                                              John A. Gehret

                                                                 President

                                                   (Principal Executive Officer)

Date: 11/26/08

Pursuant to the requirements of the Securities Exchange Act of 1934

and the Investment Company Act of 1940, this report has been signed

below by the following persons on behalf of the Registrant and in

the capacities and on the dates indicated.

By (Signature and Title)*             /s/ John A. Gehret

                                                         ---------------------------

                                                             John A. Gehret

                                                                 President

                                                    (Principal Executive Officer)

By (Signature and Title)*         /s/ Charles H. Schreiber

                                                         -------------------------

                                                Charles H. Schreiber, Treasurer

                                                   (Principal Financial Officer)

Date: 11/26/08

* Print name and title of each signing officer under his or her

  signature.