Managers / Q1 2023 · view latest →
Brown Financial Advisory
CIK 0001843853 · 54 S. GREENO ROAD., FAIRHOPE, AL, 36532 · 2519289498
Summary
Brown Financial Advisory reported $104M in U.S.-listed holdings across 28 positions for Q1 2023.
The portfolio is heavily concentrated: SPYM alone accounts for 38.7% of reported value.
Compared with Q4 2022, the fund opened 2 new positions and exited 3.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ETP · 97.2% · $101M
- Common Stock · 2.8% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| DFARDIMENSIONAL ETF TRUST | NEW | +73.8K | 73.8K | +$2M | $2M |
| SXTSENSIENT TECHNOLOGIES CORP | NEW | +11.0K | 11.0K | +$842,620 | $842,620 |
| VNQVANGUARD INDEX FDS | SOLD OUT | −11.4K | 0 | −$940,602 | $0 |
| SPDR SER TR | SOLD OUT | −27.1K | 0 | −$680,269 | $0 |
| ABTABBOTT LABS | SOLD OUT | −1.9K | 0 | −$209,040 | $0 |
| SPDR SER TR | TRIMMED | −4.4K | 22.7K | −$146,138 | $858,928 |
| SPYSPDR S&P 500 ETF TR | ADDED | +84 | 660 | +$49,918 | $270,198 |
| USRTISHARES TR | TRIMMED | −4.2K | 36.1K | −$174,351 | $2M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SPYMSPDR SER TR | PORTFOLIO S&P500 · PORTFOLIO S&P600 | 38.69% | $40M | 839.7K |
| 2 | IWBISHARES TR | RUS 1000 ETF · CORE INTL AGGR · 0-5YR HI YL CP · CRE U S REIT ETF · CORE S&P500 ETF · RUS 1000 GRW ETF · RUS 1000 VAL ETF · RUSSELL 2000 ETF | 18.75% | $19M | 196.1K |
| 3 | SPDWSPDR INDEX SHS FDS | PORTFOLIO DEVLPD · PORTFOLIO EMG MK | 17.61% | $18M | 554.7K |
| 4 | VBVANGUARD INDEX FDS | SMALL CP ETF · TOTAL STK MKT | 12.70% | $13M | 69.4K |
| 5 | VONEVANGUARD SCOTTSDALE FDS | VNG RUS1000IDX · VNG RUS2000IDX | 2.75% | $3M | 17.4K |
| 6 | VTEBVANGUARD MUN BD FDShistory → | TAX EXEMPT BD | 2.48% | $3M | 50.8K |
| 7 | DFARDIMENSIONAL ETF TRUSThistory → | US REAL ESTATE E | 1.53% | $2M | 73.8K |
| 8 | BRK/BBERKSHIRE HATHAWAY INC DELhistory → | CL B NEW | 1.18% | $1M | 4.0K |
| 9 | BNDXVANGUARD CHARLOTTE FDShistory → | TOTAL INT BD ETF | 1.17% | $1M | 24.8K |
| 10 | SXTSENSIENT TECHNOLOGIES CORP | COM | 0.81% | $842,620 | 11.0K |
| 11 | AVEMAMERICAN CENTY ETF TR | AVANTIS EMGMKT | 0.74% | $770,290 | 14.6K |
| 12 | VEAVANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 0.30% | $310,860 | 6.9K |
| 13 | ABBVABBVIE INC | COM | 0.28% | $287,504 | 1.8K |
| 14 | MKCMCCORMICK & CO INC | COM NON VTG | 0.27% | $281,250 | 3.4K |
| 15 | VWOVANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 0.26% | $273,589 | 6.8K |
| 16 | SPYSPDR S&P 500 ETF TR | TR UNIT | 0.26% | $270,198 | 660 |
| 17 | SOSOUTHERN CO | COM | 0.22% | $232,746 | 3.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $202M | 49 | Apr 27, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $198M | 56 | Jan 29, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $191M | 55 | Oct 27, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $181M | 55 | Jul 28, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $160M | 52 | Apr 30, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $141M | 35 | Jan 24, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $141M | 36 | Oct 25, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $130M | 32 | Jul 25, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $129M | 32 | Apr 25, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $123M | 32 | Jan 26, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $113M | 29 | Oct 25, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $123M | 30 | Jul 21, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $104M | 28 | Apr 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $97M | 29 | Jan 25, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $104M | 27 | Oct 21, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $93M | 26 | Jul 18, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $123M | 29 | Apr 29, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $114M | 28 | Jan 27, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $121M | 26 | Oct 20, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $120M | 26 | Jul 28, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $113M | 26 | Apr 28, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $113M | 27 | Feb 11, 2021 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.