Brown Advisory
Flexible Equity Fund
US Mega-cap
Mar 2026 → Mar 2026
Our archive holds 1 letter from this strategy, behind 1 investment thesis and positions in 24 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Brown Advisory for every strategy.
Performance
as of Mar 31, 2026 · net of fees · USD · B USD
- 1Y+3.4%
- 3Y · /yr+14.6%
- 5Y · /yr+8.3%
- 10Y · /yr+13.0%
- Inception · /yr+11.2%
Index: S&P 500 Net Index (USD)
| 1Y | 3Yper year | 5Yper year | 10Yper year | Since inceptionper year | |
|---|---|---|---|---|---|
| Flexible Equity Fund | +3.4% | +14.6% | +8.3% | +13.0% | +11.2% |
| S&P 500 Net Index (USD) | — | — | — | — | — |
Calendar years
- 2025+8.9%index +17.4%
- 2024+22.6%index +24.5%
- 2023+33.5%index +25.7%
- 2022−21.3%index −18.5%
- 2021+24.8%index +28.2%
- 2020+19.5%index +17.8%
- 2019+35.6%index +30.7%
- 2018−4.8%index −4.4%
- 2017+23.5%index +21.8%
- 2016+8.4%index +12.0%
Since inception: ITD (03/07/2014)
Disclaimer
These figures are copied from the manager’s latest letter, as of Mar 31, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
We exited Workday (WDAY) and trimmed Taiwan Semiconductor Manufacturing (TSM) and KLA Corporation (KLAC).
During the quarter, we added three new positions—NVIDIA Corporation (NVDA), SAP SE Sponsored ADR (SAP), and Watsco, Inc. (WSO)—while exiting T- Mobile (TMUS), Workday, Inc. (WDAY), and Uber Technologies (UBER)
We eliminated Uber Technologies (UBER) and trimmed Canadian National Railway (CNI), reducing the weighting in Industrials.
During the quarter, we added three new positions—NVIDIA Corporation (NVDA), SAP SE Sponsored ADR (SAP), and Watsco, Inc. (WSO)—while exiting T- Mobile (TMUS), Workday, Inc. (WDAY), and Uber Technologies (UBER)
Consumer Staples performed strongly in the period, increasing the weighting, and we added to U.S. Foods (USFD) and Mondelez International (MDLZ).
During the quarter, we added three new positions—NVIDIA Corporation (NVDA), SAP SE Sponsored ADR (SAP), and Watsco, Inc. (WSO)—while exiting T- Mobile (TMUS), Workday, Inc. (WDAY), and Uber Technologies (UBER)
During the quarter, we added three new positions—NVIDIA Corporation (NVDA), SAP SE Sponsored ADR (SAP), and Watsco, Inc. (WSO)—while exiting T- Mobile (TMUS), Workday, Inc. (WDAY), and Uber Technologies (UBER)
We trimmed American International Group (AIG), Bank of America Corp (BAC) and First Citizens BancShares, Inc. (FCNCA.
Energy was the best-performing sector in the quarter. Price appreciation increased the weighting, and we trimmed Suncor Energy (SU) following a strong move higher.
We exited Workday (WDAY) and trimmed Taiwan Semiconductor Manufacturing (TSM) and KLA Corporation (KLAC).
We trimmed American International Group (AIG), Bank of America Corp (BAC) and First Citizens BancShares, Inc. (FCNCA.
Consumer Staples performed strongly in the period, increasing the weighting, and we added to U.S. Foods (USFD) and Mondelez International (MDLZ).
We trimmed American International Group (AIG), Bank of America Corp (BAC) and First Citizens BancShares, Inc. (FCNCA.
During the quarter, we added three new positions—NVIDIA Corporation (NVDA), SAP SE Sponsored ADR (SAP), and Watsco, Inc. (WSO)—while exiting T- Mobile (TMUS), Workday, Inc. (WDAY), and Uber Technologies (UBER)
We added to KKR & Co (KKR) during the period.
During the quarter, we added three new positions—NVIDIA Corporation (NVDA), SAP SE Sponsored ADR (SAP), and Watsco, Inc. (WSO)—while exiting T- Mobile (TMUS), Workday, Inc. (WDAY), and Uber Technologies (UBER)