NPORT-EX 2 global-leaders.htm NPORT-EX

Brown Advisory Global Leaders Fund
  
Schedule of Investments
  
September 30, 2023 (Unaudited)
  
   
COMMON STOCKS - 99.0%
  
Shares
    
Value
  
Brazil - 1.8%
  
B3 S.A. - Brasil Bolsa Balcao
    
10,335,993
    
$
25,230,553
  
Total Brazil
            
25,230,553
  
                 
China - 2.8%
  
AIA Group, Ltd.
    
4,963,644
      
40,141,719
  
Total China
            
40,141,719
  
                 
Denmark - 2.4%
  
Coloplast A/S - Class A
    
322,212
      
34,095,512
  
Total Denmark
            
34,095,512
  
                 
France - 3.4%
  
Safran S.A.
    
311,691
      
48,844,860
  
Total France
            
48,844,860
  
                 
Germany - 6.0%
  
CTS Eventim AG & Co. KGaA
    
514,626
      
29,212,015
  
Deutsche Boerse AG
    
335,725
      
57,978,631
  
Total Germany
            
87,190,646
  
                 
India - 3.1%
  
HDFC Bank, Ltd.
    
2,449,332
      
44,920,541
  
Total India
            
44,920,541
  
                 
Indonesia - 2.4%
  
Bank Rakyat Indonesia Persero Tbk PT
    
100,586,264
      
33,971,292
  
Total Indonesia
            
33,971,292
  
                 
Netherlands - 4.7%
  
ASML Holding NV
    
54,742
      
32,224,426
  
Wolters Kluwer NV
    
296,720
      
35,925,531
  
Total Netherlands
            
68,149,957
  
                 
Sweden - 1.8%
  
Atlas Copco AB
    
2,170,465
      
25,383,701
  
Total Sweden
            
25,383,701
  
                 
Switzerland - 3.0%
  
Roche Holding AG
    
158,706
      
43,326,915
  
Total Switzerland
            
43,326,915
  
                 
Taiwan - 3.1%
  
Taiwan Semiconductor Manufacturing Co., Ltd. - ADR
    
498,442
      
43,314,610
  
Total Taiwan
            
43,314,610
  
                 
United Kingdom - 7.7%
  
London Stock Exchange Group PLC
    
513,189
      
51,435,156
  
Unilever PLC
    
1,187,064
      
58,720,614
  
Total United Kingdom
            
110,155,770
  
                 
United States - 56.8%
  
Communication Services - 4.8%
                
Alphabet, Inc. - Class C(a)
    
517,200
      
68,192,820
  
           
$
–
  
Consumer Discretionary - 4.8%
                
Booking Holdings, Inc.(a)
    
10,389
      
32,039,157
  
TJX Cos., Inc.
    
407,551
      
36,223,132
  
             
68,262,289
  
Consumer Staples - 2.2%
                
Estee Lauder Cos., Inc.
    
216,343
      
31,272,381
  
           
$
–
  
Financials - 13.7%
                
Charles Schwab Corp.
    
610,732
      
33,529,187
  
Mastercard, Inc. - Class A
    
150,350
      
59,525,069
  
Moody's Corp.
    
125,446
      
39,662,262
  
Visa, Inc. - Class A
    
276,473
      
63,591,554
  
             
196,308,072
  
Health Care - 2.2%
                
Edwards Lifesciences Corp.(a)
    
452,755
      
31,366,866
  
           
$
–
  
Industrials - 8.0%
                
Allegion PLC
    
291,980
      
30,424,316
  
Ferguson PLC
    
198,292
      
32,613,085
  
General Electric Co.
    
460,106
      
50,864,718
  
             
113,902,119
  
Information Technology - 18.8%
                
Adobe, Inc.(a)
    
70,197
      
35,793,450
  
Autodesk, Inc.(a)
    
146,526
      
30,317,695
  
Intuit, Inc.
    
91,366
      
46,682,544
  
Marvell Technology, Inc.
    
699,925
      
37,886,940
  
Microsoft Corp.
    
377,252
      
119,117,320
  
             
269,797,949
  
Materials - 2.3%
                
Sherwin-Williams Co.
    
131,748
      
33,602,327
  
Total United States
            
812,704,823
  
TOTAL COMMON STOCKS (Cost $1,115,941,902)
            
1,417,430,899
  
                 
SHORT-TERM INVESTMENTS - 1.4%
                
Money Market Funds - 1.4%
                
First American Government Obligations Fund - Class Z, 5.22%(b)
    
20,603,855
      
20,603,855
  
Total Money Market Funds
            
20,603,855
  
TOTAL SHORT-TERM INVESTMENTS (Cost $20,603,855)
            
20,603,855
  
                 
TOTAL INVESTMENTS - 100.4% (Cost $1,136,545,757)
            
1,438,034,754
  
Liabilities in Excess of Other Assets - (0.4)%
            
(5,343,955
)
TOTAL NET ASSETS - 100.0%
          
$
1,432,690,799
  
   
Percentages are stated as a percent of net assets.
  

ADR - American Depositary Receipt
PLC - Public Limited Company

(a)
Non-income producing security.
(b)
The rate shown represents the 7-day effective yield as of September 30, 2023.


Various inputs may be used to determine the value of the Fund's investments.  These inputs are summarized in three broad levels.  The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
 
Level 1 - Quoted prices in active markets for identical securities.
 
Level 2 - Evaluated price based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment spreads, credit risk, etc.).
 
Level 3 - Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

   
Level 1
    
Level 2
    
Level 3
Equities:
                
Common Stocks
  
$
913,474,412
    
$
503,956,487
    
$
–
Total Equities
    
913,474,412
      
503,956,487
      
–
                       
Short-Term Investments:
    
–
      
–
      
–
Money Market Funds
    
20,603,855
      
–
      
–
Total Short-Term Investments
    
20,603,855
      
–
      
–
                       
Total Investments in Securities
  
$
934,078,267
    
$
503,956,487
    
$
–
                       
 
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.