Brown Advisory
Brown Advisory U.S. Flexible Equity Fund
Jun 2026 → Jun 2026
Our archive holds 1 letter from this strategy, behind 1 investment thesis and positions in 14 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.
What it bought and sold
Strong price appreciation from Taiwan Semiconductor Manufacturing Co (TSM), KLA Corp (KLAC), and Marvell Technology Inc (MRVL) increased the weighting.
we added to Danaher Inc (DHR).
We added to SAP SE (SAP) during the period and trimmed Marvell Technology, KLA Corp, and Analog Devices Inc (ADI).
We also exited First Citizens BancShares (FCNCA) following a period of strong execution and meaningful value creation.
We exited Canadian National Railway (CNI) to redeploy capital into Watsco, where we see a more favorable risk-reward opportunity.
Given our limited allocation and the stock’s strong post-offering performance, we chose to exit the position.
We initiated positions in Capital One Financial Corp (COF) and Spotify Technology SA (SPOT)
We initiated positions in Capital One Financial Corp (COF) and Spotify Technology SA (SPOT)