SEC 13F Intelligence

Managers / Q3 2025 · view latest →

Brown Financial Advisory

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

Reported Value
$191M
Q3 2025
Positions
55
Filings on Record
22
2019–present window
Filed
Oct 27, 2025
original filing

Summary

Brown Financial Advisory reported $191M in U.S.-listed holdings across 55 positions for Q3 2025.

The portfolio is heavily concentrated: Spdr Series alone accounts for 42.1% of reported value.

Compared with Q2 2025, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+1.6%
vs prior filed quarter
Top-10 Concentration
+86.2%
share of reported value
Largest Position
+42.1%
Spdr Series
New / Exited
1 / 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: 94.5%Common Stock: 5.5%
  • ETP · 94.5% · $181M
  • Common Stock · 5.5% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CATCATERPILLAR INCNEW+456456+$217,526$217,526
INVESCO EXCHANGE TRADED FD TSOLD OUT−5.0K0−$211,037$0
SPDR SERIES TRUSTTRIMMED−71.4K15.8K−$2M$407,267
ISHARES TRTRIMMED−2.6K4.3K−$136,701$250,735
SOSOUTHERN COTRIMMED−1.0K3.0K−$82,882$288,419
VANGUARD WORLD FDTRIMMED−5041.6K−$55,681$218,661
HDHOME DEPOT INCADDED+1831.2K+$114,761$501,010
NVDANVIDIA CORPORATIONTRIMMED−5503.3K+$7,398$615,352

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

Holdings — Q3 2025

27 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR SERIES TRUSTPORTFOLIO S&P500 · PORTFLI HIGH YLD · PORTFOLIO S&P600 · PORTFOLIO AGRGTE · MSCI USA STRTGIC43.29%$83M1.10M
2VANGUARD INDEX FDSSMALL CP ETF · TOTAL STK MKT · REAL ESTATE ETF · EXTEND MKT ETF · MCAP VL IDXVIP16.84%$32M129.8K
3DFARDIMENSIONAL ETF TRUSTEMERGING MRKTETS · US REAL ESTATE E12.48%$24M505.5K
4ISHARES TRRUS 1000 ETF · RUS 1000 GRW ETF · CORE S&P500 ETF · RUS 1000 VAL ETF · MSCI USA MIN VOL · RUSSELL 2000 ETF · MSCI INTL QUALTY · CRE U S REIT ETF9.12%$17M64.2K
5SPDR INDEX SHS FDSPORTFOLIO DEVLPD · PORTFOLIO EMG MK5.86%$11M257.9K
6VGSHVANGUARD SCOTTSDALE FDSVNG RUS1000IDX · SHORT TERM TREAS · VNG RUS2000IDX2.21%$4M20.8K
7AMERICAN CENTY ETF TRINTL EQT ETF · AVANTIS EMGMKT1.28%$2M31.2K
8BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.14%$2M4.3K
9MSFTMICROSOFT CORPCOM0.89%$2M3.3K
10AAPLAPPLE INCCOM0.74%$1M5.6K
11INVESCO EXCH TRD SLF IDX FDBULETSHS 2029 · INVSCO BLSH 28 · BULSHS 2027 CB0.67%$1M65.0K
12VANGUARD WHITEHALL FDSHIGH DIV YLD0.61%$1M8.3K
13SCHWAB STRATEGIC TRFUNDAMENTAL US L · US LCAP GR ETF0.46%$884,86131.9K
14ABBVABBVIE INCCOM0.45%$859,6563.7K
15FIDELITY MERRIMACK STR TRTOTAL BD ETF0.35%$660,55814.3K
16SSFSENSIENT TECHNOLOGIES CORPCOM0.32%$617,4406.6K
17NVDANVIDIA CORPORATIONCOM0.32%$615,3523.3K
18VANGUARD WORLD FDMEGA CAP INDEX0.30%$569,7902.3K
19AMZNAMAZON COM INCCOM0.29%$557,9282.5K
20WMTWALMART INCCOM0.28%$538,6305.2K
21SPDR S&P 500 ETF TRTR UNIT0.27%$511,519768
22HDHOME DEPOT INCCOM0.26%$501,0101.2K
23VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT0.25%$473,5417.9K
24INVESCO EXCHANGE TRADED FD TS&P MDCP QUALITY0.21%$404,5843.9K
25JPMJPMORGAN CHASE & CO.COM0.20%$384,4451.2K
26LLOEWS CORPCOM0.18%$339,0183.4K
27SOSOUTHERN COCOM0.15%$288,4193.0K

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 ↗.