SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Brown Financial Advisory

CIK 0001843853 · 54 S. GREENO ROAD., FAIRHOPE, AL, 36532 · 2519289498

Reported Value
$113M
Q3 2023
Positions
29
Filings on Record
22
2019–present window
Filed
Oct 25, 2023
original filing

Summary

Brown Financial Advisory reported $113M in U.S.-listed holdings across 29 positions for Q3 2023.

The portfolio is heavily concentrated: Spdr alone accounts for 37.2% of reported value.

Compared with Q2 2023, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+1.0%
vs prior filed quarter
Top-10 Concentration
+91.2%
share of reported value
Largest Position
+37.2%
Spdr
New / Exited
1 / 2
positions this quarter

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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’20: $113MQ4 ’20Q1 ’21: $113MQ2 ’21: $120MQ3 ’21: $121MQ3 ’21Q4 ’21: $114MQ1 ’22: $123MQ2 ’22: $93MQ2 ’22Q3 ’22: $104MQ4 ’22: $97MQ1 ’23: $104MQ1 ’23Q2 ’23: $123MQ3 ’23: $113MQ4 ’23: $123MQ4 ’23Q1 ’24: $129MQ2 ’24: $130MQ3 ’24: $141MQ3 ’24Q4 ’24: $141MQ1 ’25: $160MQ2 ’25: $181MQ2 ’25Q3 ’25: $191MQ4 ’25: $198MQ1 ’26: $202MQ1 ’26filingsflow.com

Portfolio Composition

By security type
ETP: 97.4%Common Stock: 2.6%
  • ETP · 97.4% · $110M
  • Common Stock · 2.6% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VANGUARD INDEX FDSNEW+5.3K5.3K+$401,831$401,831
VANGUARD MUN BD FDSSOLD OUT−50.8K0−$3M$0
ABTABBOTT LABSSOLD OUT−1.9K0−$207,575$0
VANGUARD CHARLOTTE FDSTRIMMED−12.7K11.6K−$634,748$554,063
ISHARES TRTRIMMED−16.6K26.5K−$700,732$1M
ISHARES TRADDED+14.2K80.1K+$657,856$4M
SPDR INDEX SHS FDSTRIMMED−24.1K212.3K−$1M$7M
AAPLAPPLE INCADDED+1001.2K−$8,757$211,787

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2023

17 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR SER TRPORTFOLIO S&P500 · PORTFOLIO S&P60037.82%$43M854.1K
2ISHARES TRRUS 1000 ETF · CORE INTL AGGR · CRE U S REIT ETF · CORE S&P500 ETF · 0-5YR HI YL CP · RUS 1000 GRW ETF · RUS 1000 VAL ETF · RUSSELL 2000 ETF16.89%$19M187.6K
3SPDR INDEX SHS FDSPORTFOLIO DEVLPD · PORTFOLIO EMG MK14.22%$16M500.1K
4VANGUARD INDEX FDSSMALL CP ETF · REAL ESTATE ETF · TOTAL STK MKT12.68%$14M78.7K
5DFARDIMENSIONAL ETF TRUSThistory →US REAL ESTATE E11.29%$13M652.6K
6VANGUARD SCOTTSDALE FDSVNG RUS1000IDX · VNG RUS2000IDX2.60%$3M17.3K
7BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.22%$1M3.9K
8AMERICAN CENTY ETF TRAVANTIS EMGMKT0.67%$755,10914.3K
9SSFSENSIENT TECHNOLOGIES CORPCOM0.57%$643,63111.0K
10VANGUARD CHARLOTTE FDSTOTAL INT BD ETF0.49%$554,06311.6K
11VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT0.25%$286,0606.5K
12ABBVABBVIE INCCOM0.24%$268,9051.8K
13SPDR S&P 500 ETF TRTR UNIT0.23%$259,053606
14MCXMCCORMICK & CO INCCOM NON VTG0.23%$255,6643.4K
15VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.22%$245,7306.3K
16LLOEWS CORPCOM0.19%$213,7983.4K
17AAPLAPPLE INCCOM0.19%$211,7871.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$202M49Apr 27, 202613F-HRchanges · EDGAR ↗
Q4 2025$198M56Jan 29, 202613F-HRchanges · EDGAR ↗
Q3 2025$191M55Oct 27, 202513F-HRchanges · EDGAR ↗
Q2 2025$181M55Jul 28, 202513F-HRchanges · EDGAR ↗
Q1 2025$160M52Apr 30, 202513F-HRchanges · EDGAR ↗
Q4 2024$141M35Jan 24, 202513F-HRchanges · EDGAR ↗
Q3 2024$141M36Oct 25, 202413F-HRchanges · EDGAR ↗
Q2 2024$130M32Jul 25, 202413F-HRchanges · EDGAR ↗
Q1 2024$129M32Apr 25, 202413F-HRchanges · EDGAR ↗
Q4 2023$123M32Jan 26, 202413F-HRchanges · EDGAR ↗
Q3 2023$113M29Oct 25, 202313F-HRchanges · EDGAR ↗
Q2 2023$123M30Jul 21, 202313F-HRchanges · EDGAR ↗
Q1 2023$104M28Apr 24, 202313F-HRchanges · EDGAR ↗
Q4 2022$97M29Jan 25, 202313F-HRchanges · EDGAR ↗
Q3 2022$104M27Oct 21, 202213F-HRchanges · EDGAR ↗
Q2 2022$93M26Jul 18, 202213F-HRchanges · EDGAR ↗
Q1 2022$123M29Apr 29, 202213F-HRchanges · EDGAR ↗
Q4 2021$114M28Jan 27, 202213F-HRchanges · EDGAR ↗
Q3 2021$121M26Oct 20, 202113F-HRchanges · EDGAR ↗
Q2 2021$120M26Jul 28, 202113F-HRchanges · EDGAR ↗
Q1 2021$113M26Apr 28, 202113F-HRchanges · EDGAR ↗
Q4 2020$113M27Feb 11, 202113F-HRchanges · 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 ↗.