SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Brown Financial Advisory

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

Reported Value
$198M
Q4 2025
Positions
56
Filings on Record
22
2019–present window
Filed
Jan 29, 2026
original filing

Summary

Brown Financial Advisory reported $198M in U.S.-listed holdings across 56 positions for Q4 2025.

The portfolio is heavily concentrated: Spdr Series alone accounts for 42.8% of reported value.

Compared with Q3 2025, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+1.1%
vs prior filed quarter
Top-10 Concentration
+86.7%
share of reported value
Largest Position
+42.8%
Spdr Series
New / Exited
2 / 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% · $187M
  • Common Stock · 5.5% · $11M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GOOGALPHABET INCNEW+800800+$251,019$251,019
GOOGLALPHABET INCNEW+641641+$200,777$200,777
PIMCO ETF TRSOLD OUT−2.2K0−$206,454$0
ISHARES TRTRIMMED−1.1K4.0K−$199,670$834,948
DFARDIMENSIONAL ETF TRUSTTRIMMED−25.7K119.8K−$726,444$3M
VANGUARD INDEX FDSTRIMMED−3102.0K−$87,469$673,558
ISHARES TRTRIMMED−4634.4K−$195,222$2M
SPDR INDEX SHS FDSTRIMMED−14.0K206.2K−$263,491$9M

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

Holdings — Q4 2025

28 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR SERIES TRUSTSTATE STREET SPD43.99%$87M1.13M
2VANGUARD INDEX FDSSMALL CP ETF · TOTAL STK MKT · REAL ESTATE ETF · EXTEND MKT ETF · MCAP VL IDXVIP17.03%$34M134.1K
3DFARDIMENSIONAL ETF TRUSTEMERGING MRKTETS · US REAL ESTATE E12.70%$25M489.6K
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 QUALTY8.38%$17M57.1K
5SPDR INDEX SHS FDSPORTFOLIO DEVLPD · PORTFOLIO EMG MK5.52%$11M244.0K
6VGSHVANGUARD SCOTTSDALE FDSVNG RUS1000IDX · SHORT TERM TREAS · VNG RUS2000IDX2.17%$4M20.8K
7AMERICAN CENTY ETF TRINTL EQT ETF · AVANTIS EMGMKT1.28%$3M31.2K
8BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.10%$2M4.3K
9MSFTMICROSOFT CORPCOM0.81%$2M3.3K
10AAPLAPPLE INCCOM0.77%$2M5.6K
11INVESCO EXCH TRD SLF IDX FDBULETSHS 2029 · INVSCO BLSH 28 · BULSHS 2027 CB0.65%$1M65.0K
12VANGUARD WHITEHALL FDSHIGH DIV YLD0.60%$1M8.3K
13SCHWAB STRATEGIC TRFUNDAMENTAL US L · US LCAP GR ETF0.46%$912,23131.9K
14ABBVABBVIE INCCOM0.43%$848,3323.7K
15FIDELITY MERRIMACK STR TRTOTAL BD ETF0.33%$657,70114.3K
16SSFSENSIENT TECHNOLOGIES CORPCOM0.31%$618,0986.6K
17NVDANVIDIA CORPORATIONCOM0.31%$615,0903.3K
18AMZNAMAZON COM INCCOM0.30%$586,5142.5K
19VANGUARD WORLD FDMEGA CAP INDEX0.30%$586,3172.3K
20WMTWALMART INCCOM0.29%$582,2705.2K
21SPDR S&P 500 ETF TRTR UNIT0.26%$521,559765
22VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT0.25%$493,6937.9K
23HDHOME DEPOT INCCOM0.23%$451,2811.3K
24JPMJPMORGAN CHASE & CO.COM0.20%$392,7201.2K
25INVESCO EXCHANGE TRADED FD TS&P MDCP QUALITY0.20%$388,9553.8K
26LLOEWS CORPCOM0.18%$355,6323.4K
27SOSOUTHERN COCOM0.13%$265,3813.0K
28CATCATERPILLAR INCCOM0.13%$261,163456

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 ↗.