SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Brown Financial Advisory

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

Reported Value
$123M
Q4 2023
Positions
32
Filings on Record
22
2019–present window
Filed
Jan 26, 2024
original filing

Summary

Brown Financial Advisory reported $123M in U.S.-listed holdings across 32 positions for Q4 2023.

The portfolio is heavily concentrated: Spdr alone accounts for 38.0% of reported value.

Compared with Q3 2023, the fund opened 4 new positions and exited 1.

Portfolio Metrics

Turnover
+5.7%
vs prior filed quarter
Top-10 Concentration
+90.1%
share of reported value
Largest Position
+38.0%
Spdr
New / Exited
4 / 1
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: 97.3%Common Stock: 2.7%
  • ETP · 97.3% · $120M
  • Common Stock · 2.7% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMERICAN CENTY ETF TRNEW+28.1K28.1K+$2M$2M
SPDR SER TRNEW+46.5K46.5K+$1M$1M
SPDR SER TRNEW+18.1K18.1K+$463,751$463,751
ABTABBOTT LABSNEW+1.9K1.9K+$209,574$209,574
AMERICAN CENTY ETF TRADDED+36.8K51.1K+$2M$3M
ISHARES TRSOLD OUT−26.5K0−$1M$0
ISHARES TRTRIMMED−69.5K10.6K−$3M$527,183
VANGUARD INDEX FDSTRIMMED−7451.1K−$132,096$250,030

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

Holdings — Q4 2023

18 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR SER TRPORTFOLIO S&P500 · PORTFLI HIGH YLD · PORTFOLIO S&P600 · PORTFOLIO AGRGTE39.83%$49M916.2K
2VANGUARD INDEX FDSSMALL CP ETF · REAL ESTATE ETF · TOTAL STK MKT13.19%$16M78.9K
3ISHARES TRRUS 1000 ETF · CRE U S REIT ETF · CORE S&P500 ETF · RUS 1000 GRW ETF · RUS 1000 VAL ETF · CORE INTL AGGR · RUSSELL 2000 ETF13.03%$16M90.5K
4DFARDIMENSIONAL ETF TRUSThistory →US REAL ESTATE E12.50%$15M675.0K
5SPDR INDEX SHS FDSPORTFOLIO DEVLPD · PORTFOLIO EMG MK11.48%$14M407.2K
6AMERICAN CENTY ETF TRAVANTIS EMGMKT · INTL EQT ETF3.73%$5M79.2K
7VANGUARD SCOTTSDALE FDSVNG RUS1000IDX · VNG RUS2000IDX2.54%$3M16.5K
8BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.16%$1M4.0K
9SSFSENSIENT TECHNOLOGIES CORPCOM0.55%$670,89010.2K
10VANGUARD CHARLOTTE FDSTOTAL INT BD ETF0.34%$423,2568.6K
11VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT0.26%$313,4106.5K
12ABBVABBVIE INCCOM0.23%$279,5661.8K
13SPDR S&P 500 ETF TRTR UNIT0.22%$267,125562
14VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.21%$257,5746.3K
15AAPLAPPLE INCCOM0.19%$238,2331.2K
16LLOEWS CORPCOM0.19%$235,0063.4K
17MCXMCCORMICK & CO INCCOM NON VTG0.19%$231,2603.4K
18ABTABBOTT LABSCOM0.17%$209,5741.9K

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 ↗.