NPORT-EX 2 sustainable-intleaders.htm NPORT-EX

Brown Advisory Sustainable International Leaders Fund
  
Schedule of Investments
  
September 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 99.0%
  
Shares
    
Value
  
Brazil - 2.6%
        
B3 S.A. - Brasil Bolsa Balcao
    
494,878
    
$
975,639
  
                 
Canada - 6.2%
          
Canadian National Railway Co.
    
5,649
      
661,490
  
Waste Connections, Inc.
    
9,530
      
1,703,485
  
             
2,364,975
  
                 
China - 3.2%
          
AIA Group, Ltd.
    
139,072
      
1,214,496
  
                 
Finland - 3.6%
          
Kone Oyj - Class B
    
23,004
      
1,376,137
  
                 
France - 11.4%
          
Airbus SE
    
6,540
      
957,172
  
LVMH Moet Hennessy Louis Vuitton SE
    
2,141
      
1,641,885
  
Safran S.A.
    
7,331
      
1,725,156
  
             
4,324,213
  
                 
Germany - 9.7%
          
CTS Eventim AG & Co. KGaA
    
14,222
      
1,480,878
  
Deutsche Boerse AG
    
9,311
      
2,185,935
  
             
3,666,813
  
                 
India - 6.9%
          
HDFC Bank, Ltd. - ADR
    
25,854
      
1,617,426
  
Tata Consultancy Services, Ltd.
    
19,526
      
994,235
  
             
2,611,661
  
                 
Indonesia - 3.6%
          
Bank Rakyat Indonesia Persero Tbk PT
    
4,170,156
      
1,363,901
  
                 
Japan - 4.6%
          
Keyence Corp.
    
1,788
      
856,921
  
Shimano, Inc.
    
4,716
      
897,774
  
             
1,754,695
  
                 
Netherlands - 6.1%
          
ASML Holding NV
    
910
      
756,994
  
Wolters Kluwer NV
    
9,102
      
1,535,253
  
             
2,292,247
  
                 
Sweden - 2.4%
          
Atlas Copco AB - Class B
    
52,825
      
906,364
  
                 
Switzerland - 5.3%
          
Cie Financiere Richemont S.A.
    
4,806
      
763,213
  
Roche Holding AG
    
3,856
      
1,233,987
  
             
1,997,200
  
                 
United Kingdom - 26.5%
          
Compass Group PLC
    
42,931
      
1,376,356
  
ConvaTec Group PLC
    
219,508
      
666,692
  
Diageo PLC
    
32,844
      
1,147,239
  
Experian PLC
    
34,451
      
1,814,525
  
Howden Joinery Group PLC
    
124,597
      
1,514,142
  
London Stock Exchange Group PLC
    
14,721
      
2,015,471
  
Rentokil Initial PLC
    
301,063
      
1,472,161
  
             
10,006,586
  
                 
United States - 6.9%
          
Booking Holdings, Inc.
    
329
      
1,385,787
  
NXP Semiconductors NV
    
5,076
      
1,218,291
  
             
2,604,078
  
TOTAL COMMON STOCKS (Cost $29,794,615)
      
37,459,005
  
                 
SHORT-TERM INVESTMENTS - 1.8%
                
Money Market Funds - 1.8%
                
First American Government Obligations Fund - Class Z, 4.78% (a)
    
662,976
      
662,976
  
TOTAL SHORT-TERM INVESTMENTS (Cost $662,976)
      
662,976
  
                 
TOTAL INVESTMENTS - 100.8% (Cost $30,457,591)
      
38,121,981
  
Liabilities in Excess of Other Assets - (0.8)%
      
(314,558
)
TOTAL NET ASSETS - 100.0%
          
$
37,807,423
  
                 
Percentages are stated as a percent of net assets.
          

ADR - American Depositary Receipt
AG - Aktiengesellschaft
AB - Aktiebolag
NV - Naamloze Vennootschap
PLC - Public Limited Company

(a)
The rate shown represents the 7-day annualized effective yield as of September 30, 2024.


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).

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of September 30, 2024:

   
Level 1
    
Level 2
    
Level 3
  
                   
 Common Stocks
  
$
7,562,118
    
$
29,896,887
    
$
–
  
 Money Market Funds
    
662,976
      
–
      
–
  
 Total Investments
  
$
8,225,094
    
$
29,896,887
    
$
–