Brown Capital
Brown Capital Small Company Fund
Small-cap
Jun 2025 → Sep 2025
Our archive holds 2 letters from this strategy, behind 6 investment theses and positions in 18 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year · follow all of Brown Capital for every strategy.
What it bought and sold
We added four new companies—Axogen (AXGN), Corcept Therapeutics (CORT), Intapp (INTA) and Mama’s Creations (MAMA)—to the portfolio this quarter.
We deleted two companies from the portfolio in the third quarter of 2025—Ansys (ANSS) and Olo (OLO).
We added four new companies—Axogen (AXGN), Corcept Therapeutics (CORT), Intapp (INTA) and Mama’s Creations (MAMA)—to the portfolio this quarter.
We added four new companies—Axogen (AXGN), Corcept Therapeutics (CORT), Intapp (INTA) and Mama’s Creations (MAMA)—to the portfolio this quarter.
We deleted two companies from the portfolio in the third quarter of 2025—Ansys (ANSS) and Olo (OLO).
We added four new companies—Axogen (AXGN), Corcept Therapeutics (CORT), Intapp (INTA) and Mama’s Creations (MAMA)—to the portfolio this quarter.
Also held
Its investment theses
- AxogenSep 2025Axogen offers the only approved human nerve graft with strong clinical evidence, high growth, and upcoming BLA exclusivity driving profitability.
- Corcept TherapeuticsSep 2025Corcept Therapeutics delivers high-margin cortisol-modulating therapies with robust revenue and income growth, strong cash flow, and a large R&D pipeline.
- GlaukosSep 2025Glaukos offers innovative glaucoma devices with strong revenue growth, FDA-approved implants, and a promising product pipeline.
- IntappSep 2025Intapp provides specialized industry software with high retention, competitive moat, AI integration, and a clear path to profitability.
- Mama’s CreationsSep 2025Mama’s Creations offers fresh deli and prepared foods with strong organic growth, low market penetration, and experienced management driving expansion.
- VericelSep 2025Vericel develops high-growth cell therapies for sports medicine and burns, with strong MACI adoption, seasonal demand, and product expansion.