BROWN CAPITAL MANAGEMENT LLC

Registered adviser

CIK

885062

Location

BALTIMORE, MD

Portfolio Value

Small $526,887,503

Diversification

Diversified

Filing Date

Global Rank

#3,835 / 8,819 ▼ 945 · as of Jun 2026

Top Industry

Software - Application 32.7%

Period ended 29 days ago

Filed Oct 27, 2026 · 2d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 105633

Roster of Oct 1, 2026

Regulatory AUM

$4,536,497,889

Main clients

Registered funds and BDCs (55% of AUM)

Registered funds advised

3 series (0 index, 0 ETFs)

$2,781,350,856 net assets· N-CEN Mar 31, 2026

LEI

8945006AHP2K2VXJ0144

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$4,536,497,889	Registered funds and BDCs (55%)
Apr 2025 to Mar 2026	$8,098,760,315	Diversified
Apr 2024 to Mar 2025	$10,743,201,352	Registered funds and BDCs (55%)
May 2023 to Mar 2024	$10,614,900,878	Registered funds and BDCs (54%)
Apr 2023	$10,614,900,878	Registered funds and BDCs (54%)
Apr 2022 to Mar 2023	$17,575,999,316	Registered funds and BDCs (58%)

3 earlier changes not shown.

Stated strategy

Fundamental active, Value, Growth, Fixed income / rates Form ADV Part 2A, Jul 13, 2026 · original

In the firm's words

Fundamental active: BCM's approach is primarily one of fundamental analysis in evaluating securities.
Value: Valuation analysis is utilized for securities to make a judgment whether the security is a superior investment value
Growth: Primary among these aspects are our evaluation of a company’s durability of revenue growth, defensibility of market presence, deliverability of growth plan, and potential profitability to fuel and sustain earnings growth.
Fixed income / rates: The investment strategies discussed herein utilize both long-term and short-term holdings in equities, warrants, corporate debt, commercial paper, municipal securities and U.S. government securities.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 45.7%, 31.7 effective positions, active share 96.4% against the S&P SmallCap 600 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

13.6% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 16.1 quarters (12+), a floor since 38.4% of the book was already held when coverage starts

Closest benchmark: the S&P SmallCap 600 as of 2026-06-30, active share 96.4%; sector active share 45.2% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

55 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

6.3%

+0.4 pts

Top 5

26.5%

+0.8 pts

Top 10

46.3%

+0.6 pts

HHI

316

Diversified−0

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Technology	49.8%	$262,286,540	26
Healthcare	30.2%	$158,859,842	16
Industrials	11.4%	$60,142,424	7
Consumer Cyclical	6.9%	$36,373,387	3
Financial Services	0.9%	$4,736,304	1
Consumer Defensive	0.8%	$4,233,011	1
Communication Services	0.0%	$255,995	1

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

14 positions

Ticker	Company	Δ Shares	Shares	Value
AMSC	American Superconductor Corp	+171,365	239,521	$6,972,456
PKE	Park Aerospace Corp	+112,631	221,513	$6,576,720
FIGR	Figure Technology Solutions, Inc.	+72,826	164,170	$4,736,304
GLBE	Global-E Online Ltd.	+70,019	755,499	$30,015,975
WRBY	Warby Parker Inc.	+69,920	209,509	$5,820,160
XPEL	XPEL, Inc.	+59,773	138,837	$6,132,430
PDFS	Pdf Solutions Inc	+51,980	154,211	$7,872,471
CAMT	Camtek Ltd	+33,684	212,628	$33,010,497
KRMN	Karman Holdings Inc.	+31,498	94,176	$3,053,185
CRDO	Credo Technology Group Holding Ltd	+24,789	40,492	$7,887,436
LOAR	Loar Holdings Inc.	+20,610	105,426	$6,485,807
HTFL	Heartflow, Inc.	+19,099	101,190	$5,034,202
SITM	SITIME Corp	+6,423	11,037	$7,196,455
KRYS	Krystal Biotech, Inc.	+5,111	16,079	$5,347,232
No positions match the current search.

Trimmed

Positions the filer reduced

22 positions

Ticker	Company	Δ Shares	Shares	Value
VERX	Vertex, Inc.	−249,802	124,022	$1,460,979
VCEL	Vericel Corp	−162,936	341,113	$13,692,275
CYRX	Cryoport, Inc.	−68,138	601,919	$10,473,390
KIDS	Orthopediatrics Corp	−64,111	89,203	$1,986,550
NCNO	nCino, Inc.	−60,328	310,040	$5,621,025
RGEN	Repligen Corp	−56,345	84,554	$16,253,815
CLBT	Cellebrite DI Ltd.	−42,101	1,098,160	$12,365,281
CGNX	Cognex Corp	−33,398	318,544	$19,319,693
BMI	Badger Meter Inc	−31,033	31,185	$3,852,594
AXGN	Axogen, Inc.	−28,868	196,339	$8,230,530
QTWO	Q2 Holdings, Inc.	−22,980	195,509	$10,839,018
INSP	Inspire Medical Systems, Inc.	−18,857	25,094	$1,740,519
DUOL	Duolingo, Inc.	−18,701	11,603	$1,652,267
GKOS	GLAUKOS Corp	−16,215	151,705	$24,908,443
SPSC	Sps Commerce Inc	−15,425	22,783	$1,878,230
XMTR	Xometry, Inc.	−11,921	247,087	$25,412,897
MANH	Manhattan Associates Inc	−11,129	104,989	$20,861,314
VEEV	Veeva Systems Inc	−9,910	89,559	$25,564,616
AGYS	Agilysys Inc	−9,548	122,751	$11,916,667
UFPT	Ufp Technologies Inc	−6,315	44,374	$13,171,090
DDOG	Datadog, Inc.	−3,457	94,375	$25,844,593
RDVT	Red Violet, Inc.	−530	116,072	$9,170,848
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
LASR	Nlight, Inc.	80,180	$3,122,610
AORT	Artivion, Inc.	51,908	$1,184,540
AMPX	Amprius Technologies, Inc.	120,658	$1,167,969
MSFT	Microsoft Corp	438	$224,650
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
ALRM	Alarm.com Holdings, Inc.	120,604	$5,634,618
ERII	Energy Recovery, Inc.	282,866	$2,551,451
RXST	RxSight, Inc.	216,300	$1,042,566
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

55 tracked positions · $526,887,503 total · filing declares 55 positions · $526,887,535 · as of Sep 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Showing 1–50 of 55 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CAMT	Camtek Ltd Technology	Added	212,628	+33,684	$33,010,497	+13.1%	6.27%
GLBE	Global-E Online Ltd. Consumer Cyclical	Added	755,499	+70,019	$30,015,975	+26.1%	5.70%
DDOG	Datadog, Inc. Technology	Reduced	94,375	-3,457	$25,844,593	+1.5%	4.91%
VEEV	Veeva Systems Inc Healthcare	Reduced	89,559	-9,910	$25,564,616	+44.8%	4.85%
XMTR	Xometry, Inc. Industrials	Reduced	247,087	-11,921	$25,412,897	+1.7%	4.82%
GKOS	GLAUKOS Corp Healthcare	Reduced	151,705	-16,215	$24,908,443	+6.1%	4.73%
MANH	Manhattan Associates Inc Technology	Reduced	104,989	-11,129	$20,861,314	+29.0%	3.96%
APPF	Appfolio Inc Technology	Held	99,549	0	$19,961,565	+25.1%	3.79%
CGNX	Cognex Corp Technology	Reduced	318,544	-33,398	$19,319,693	−24.2%	3.67%
GWRE	Guidewire Software, Inc. Technology	Held	133,623	0	$19,051,967	+15.9%	3.62%
RGEN	Repligen Corp Healthcare	Reduced	84,554	-56,345	$16,253,815	−15.5%	3.08%
TECH	BIO-TECHNE Corp Healthcare	Held	197,665	0	$14,324,782	+2.6%	2.72%
VCEL	Vericel Corp Healthcare	Reduced	341,113	-162,936	$13,692,275	−38.9%	2.60%
UFPT	Ufp Technologies Inc Healthcare	Reduced	44,374	-6,315	$13,171,090	−2.0%	2.50%
CLBT	Cellebrite DI Ltd. Technology	Reduced	1,098,160	-42,101	$12,365,281	−25.7%	2.35%
TYL	Tyler Technologies Inc Technology	Held	38,028	0	$12,115,720	+8.9%	2.30%
AGYS	Agilysys Inc Technology	Reduced	122,751	-9,548	$11,916,667	−13.8%	2.26%
PAYC	Paycom Software, Inc. Technology	Held	53,823	0	$11,714,575	+73.2%	2.22%
QTWO	Q2 Holdings, Inc. Technology	Reduced	195,509	-22,980	$10,839,018	+3.1%	2.06%
CYRX	Cryoport, Inc. Industrials	Reduced	601,919	-68,138	$10,473,390	−0.4%	1.99%
CORT	Corcept Therapeutics Inc Healthcare	Held	84,041	0	$9,684,044	+32.5%	1.84%
RDVT	Red Violet, Inc. Technology	Reduced	116,072	-530	$9,170,848	+23.4%	1.74%
WK	Workiva Inc Technology	Held	128,497	0	$8,554,045	+37.2%	1.62%
AXGN	Axogen, Inc. Healthcare	Reduced	196,339	-28,868	$8,230,530	−20.9%	1.56%
CRDO	Credo Technology Group Holding Ltd Technology	Added	40,492	+24,789	$7,887,436	+84.7%	1.50%
PDFS	Pdf Solutions Inc Technology	Added	154,211	+51,980	$7,872,471	+8.8%	1.49%
TMDX	TransMedics Group, Inc. Healthcare	Held	89,828	0	$7,496,146	+25.6%	1.42%
SITM	SITIME Corp Technology	Added	11,037	+6,423	$7,196,455	+109.2%	1.37%
AMSC	American Superconductor Corp Industrials	Added	239,521	+171,365	$6,972,456	+146.5%	1.32%
PKE	Park Aerospace Corp Industrials	Added	221,513	+112,631	$6,576,720	+58.3%	1.25%
LOAR	Loar Holdings Inc. Industrials	Added	105,426	+20,610	$6,485,807	−5.1%	1.23%
XPEL	XPEL, Inc. Consumer Cyclical	Added	138,837	+59,773	$6,132,430	+56.4%	1.16%
WRBY	Warby Parker Inc. Healthcare	Added	209,509	+69,920	$5,820,160	+37.4%	1.10%
NCNO	nCino, Inc. Technology	Reduced	310,040	-60,328	$5,621,025	−7.2%	1.07%
KRYS	Krystal Biotech, Inc. Healthcare	Added	16,079	+5,111	$5,347,232	+31.2%	1.01%
HTFL	Heartflow, Inc. Healthcare	Added	101,190	+19,099	$5,034,202	+109.0%	0.96%
FIGR	Figure Technology Solutions, Inc. Financial Services	Added	164,170	+72,826	$4,736,304	+68.8%	0.90%
VCYT	Veracyte, Inc. Healthcare	Held	96,023	0	$4,420,898	−21.6%	0.84%
MAMA	Mama's Creations, Inc. Consumer Defensive	Held	328,395	0	$4,233,011	−27.8%	0.80%
BMI	Badger Meter Inc Technology	Reduced	31,185	-31,033	$3,852,594	−58.3%	0.73%
INTA	Intapp, Inc. Technology	Held	98,603	0	$3,570,414	+43.6%	0.68%
LASR	Nlight, Inc. Technology	NEW	80,180	NEW	$3,122,610	NEW	0.59%
KRMN	Karman Holdings Inc. Industrials	Added	94,176	+31,498	$3,053,185	−2.4%	0.58%
AVPT	AvePoint, Inc. Technology	Held	206,292	0	$2,904,591	+25.6%	0.55%
KIDS	Orthopediatrics Corp Healthcare	Reduced	89,203	-64,111	$1,986,550	−32.3%	0.38%
SPSC	Sps Commerce Inc Technology	Reduced	22,783	-15,425	$1,878,230	−14.0%	0.36%
INSP	Inspire Medical Systems, Inc. Healthcare	Reduced	25,094	-18,857	$1,740,519	−11.2%	0.33%
DUOL	Duolingo, Inc. Technology	Reduced	11,603	-18,701	$1,652,267	−52.6%	0.31%
VERX	Vertex, Inc. Technology	Reduced	124,022	-249,802	$1,460,979	−66.0%	0.28%
AORT	Artivion, Inc. Healthcare	NEW	51,908	NEW	$1,184,540	NEW	0.22%

Showing the top 50 of 55 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.