13F HOLDINGS REPORT

Brown Financial Advisors

Quarter ended Q2 2025 · Filed August 15, 2025 · Accession 0002035548-25-000003

Total Value

$256.2M

Positions

138

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (138)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	SPDR SERIES TRUST	78464A854	199,417	$14.5M	5.66%
2	MICROSOFT CORP	MSFT	14,330	$7.1M	2.78%
3	NVIDIA CORPORATION	NVDA	42,879	$6.8M	2.64%
4	AMAZON COM INC	AMZN	30,543	$6.7M	2.62%
5	DOUBLELINE ETF TRUST	25861R402	127,770	$6.3M	2.45%
6	NEOS ETF TRUST	78433H303	120,855	$6.1M	2.37%
7	AMERICAN CENTY ETF TR	025072703	71,278	$5.3M	2.06%
8	META PLATFORMS INC	META	6,883	$5.1M	1.98%
9	SPDR INDEX SHS FDS	78463X889	117,828	$4.8M	1.86%
10	APPLE INC	AAPL	22,630	$4.6M	1.81%
11	ALPHABET INC	GOOG	25,740	$4.6M	1.78%
12	COLUMBIA ETF TR I	19761L706	115,356	$4.2M	1.66%
13	INNOVATOR ETFS TRUST	INHD	115,856	$4.2M	1.63%
14	JANUS DETROIT STR TR	47103U852	91,056	$4.1M	1.60%
15	SSGA ACTIVE ETF TR	78467V707	99,048	$4.0M	1.57%
16	INVESCO ACTIVELY MANAGED EXC	IVZ	79,933	$4.0M	1.56%
17	AMERICAN CENTY ETF TR	025072604	58,061	$4.0M	1.55%
18	ISHARES TR	46432F339	21,653	$4.0M	1.55%
19	BONDBLOXX ETF TRUST	09789C838	72,359	$3.6M	1.39%
20	J P MORGAN EXCHANGE TRADED F	46654Q724	56,268	$3.5M	1.37%
21	J P MORGAN EXCHANGE TRADED F	46641Q399	31,109	$3.5M	1.36%
22	JANUS DETROIT STR TR	47103U845	64,617	$3.3M	1.28%
23	BROADCOM INC	AVGO	11,334	$3.1M	1.22%
24	DOUBLELINE ETF TRUST	25861R808	58,883	$3.0M	1.17%
25	PROCTER AND GAMBLE CO	742718109	18,273	$2.9M	1.14%
26	INNOVATOR ETFS TRUST	INHD	100,743	$2.9M	1.13%
27	GOLDMAN SACHS GROUP INC	GSCE	4,015	$2.8M	1.11%
28	JPMORGAN CHASE & CO.	VYLD	9,662	$2.8M	1.09%
29	ANGEL OAK FUNDS TRUST	03463K737	321,190	$2.8M	1.08%
30	BONDBLOXX ETF TRUST	09789C754	53,394	$2.7M	1.07%
31	VANECK ETF TRUST	92189H730	73,269	$2.5M	1.00%
32	VISA INC	V	7,130	$2.5M	0.99%
33	BONDBLOXX ETF TRUST	09789C820	51,485	$2.5M	0.96%
34	MORGAN STANLEY	MS-PQ	17,062	$2.4M	0.94%
35	SPDR SERIES TRUST	78464A649	92,276	$2.4M	0.92%
36	CHEVRON CORP NEW	CVX	16,039	$2.3M	0.90%
37	WALMART INC	WMT	22,980	$2.2M	0.88%
38	BONDBLOXX ETF TRUST	09789C846	44,063	$2.2M	0.86%
39	INNOVATOR ETFS TRUST	INHD	88,140	$2.2M	0.85%
40	BERKSHIRE HATHAWAY INC DEL	BRK-A	4,437	$2.2M	0.84%
41	AIM ETF PRODUCTS TRUST	00888H505	58,052	$2.1M	0.84%
42	UNITEDHEALTH GROUP INC	UNH	6,338	$2.0M	0.77%
43	MEDTRONIC PLC	MDT	22,497	$2.0M	0.77%
44	ABBOTT LABS	ABLZF	13,936	$1.9M	0.74%
45	BONDBLOXX ETF TRUST	09789C671	37,567	$1.9M	0.74%
46	NETFLIX INC	NFLX	1,401	$1.9M	0.73%
47	WORLD GOLD TR	GLDW	28,282	$1.9M	0.72%
48	INVESCO EXCHANGE TRADED FD T	IVZ	9,940	$1.8M	0.71%
49	UNITED RENTALS INC	URI	2,386	$1.8M	0.70%
50	COCA COLA CO	KO	25,088	$1.8M	0.69%
51	LOWES COS INC	548661107	7,960	$1.8M	0.69%
52	MCDONALDS CORP	MCD	6,034	$1.8M	0.69%
53	PALO ALTO NETWORKS INC	PANW	8,446	$1.7M	0.67%
54	EXTRA SPACE STORAGE INC	EXR	11,654	$1.7M	0.67%
55	JOHNSON & JOHNSON	JNJ	10,979	$1.7M	0.65%
56	STARBUCKS CORP	SBUX	18,032	$1.7M	0.64%
57	PIMCO ETF TR	72201R619	32,158	$1.6M	0.64%
58	SPDR SERIES TRUST	78464A672	56,943	$1.6M	0.64%
59	ISHARES TR	464288646	30,007	$1.6M	0.62%
60	BANK AMERICA CORP	060505104	33,182	$1.6M	0.61%
61	EATON CORP PLC	ETN	4,371	$1.6M	0.61%
62	AMPHENOL CORP NEW	032095101	15,783	$1.6M	0.61%
63	TARGET CORP	TGT	15,710	$1.5M	0.60%
64	QUANTA SVCS INC	74762E102	3,955	$1.5M	0.58%
65	AZEK CO INC	05478C105	27,352	$1.5M	0.58%
66	NEXTERA ENERGY INC	NEE-PW	20,256	$1.4M	0.55%
67	SERVICENOW INC	NOW	1,347	$1.4M	0.54%
68	INTUIT	INTU	1,743	$1.4M	0.54%
69	BONDBLOXX ETF TRUST	09789C812	29,440	$1.4M	0.53%
70	PAYPAL HLDGS INC	PYPL	17,847	$1.3M	0.52%
71	ECOLAB INC	ECL	4,885	$1.3M	0.51%
72	DEXCOM INC	DXCM	14,893	$1.3M	0.51%
73	LAM RESEARCH CORP	LRCX	13,297	$1.3M	0.51%
74	COSTCO WHSL CORP NEW	22160K105	1,301	$1.3M	0.50%
75	WASTE CONNECTIONS INC	WCN	6,792	$1.3M	0.50%
76	SYNOPSYS INC	SNPS	2,466	$1.3M	0.49%
77	BOSTON SCIENTIFIC CORP	BSX	11,713	$1.3M	0.49%
78	CONOCOPHILLIPS	COP	13,752	$1.2M	0.48%
79	SPDR SERIES TRUST	78468R663	13,251	$1.2M	0.47%
80	EQUINIX INC	EQIX	1,465	$1.2M	0.45%
81	PFIZER INC	PFE	46,542	$1.1M	0.44%
82	ISHARES TR	464288638	21,095	$1.1M	0.44%
83	UBER TECHNOLOGIES INC	UBER	11,167	$1.0M	0.41%
84	SOUTHWEST AIRLS CO	844741108	32,036	$1.0M	0.41%
85	SCHLUMBERGER LTD	SLB	30,650	$1.0M	0.40%
86	INSULET CORP	PODD	3,295	$1.0M	0.40%
87	BAKER HUGHES COMPANY	BKR	26,883	$1.0M	0.40%
88	VERTEX PHARMACEUTICALS INC	VRTX	2,253	$1.0M	0.39%
89	ZIMMER BIOMET HOLDINGS INC	ZBH	10,858	$990,358	0.39%
90	COHEN & STEERS ETF TRUST	19249U302	36,708	$971,176	0.38%
91	FIRST TR EXCHANGE-TRADED FD	33739Q408	15,561	$931,637	0.36%
92	PROSHARES TR	74347B508	17,245	$928,678	0.36%
93	NEOS ETF TRUST	78433H501	16,965	$843,669	0.33%
94	ORACLE CORP	ORCL-PD	2,789	$609,759	0.24%
95	SPDR SERIES TRUST	78468R101	20,818	$609,759	0.24%
96	CARDINAL HEALTH INC	CAH	3,484	$585,312	0.23%
97	SPDR SERIES TRUST	78464A664	21,868	$581,251	0.23%
98	DOUBLELINE ETF TRUST	25861R303	11,149	$580,107	0.23%
99	AIM ETF PRODUCTS TRUST	00888H828	15,423	$541,360	0.21%
100	INNOVATOR ETFS TRUST	INHD	11,886	$537,102	0.21%
101	INNOVATOR ETFS TRUST	INHD	14,528	$533,759	0.21%
102	AMERICAN CENTY ETF TR	025072885	5,275	$531,826	0.21%
103	RTX CORPORATION	RTX	3,501	$511,143	0.20%
104	L3HARRIS TECHNOLOGIES INC	LHX	2,031	$509,456	0.20%
105	ARES MANAGEMENT CORPORATION	ARES-PB	2,923	$506,264	0.20%
106	NEW YORK TIMES CO	NYT	8,969	$502,085	0.20%
107	INTERCONTINENTAL EXCHANGE IN	45866F104	2,697	$494,819	0.19%
108	HONEYWELL INTL INC	438516106	2,094	$487,651	0.19%
109	SYSCO CORP	SYY	6,417	$486,024	0.19%
110	BALL CORP	BALL	8,312	$466,192	0.18%
111	AMERICAN TOWER CORP NEW	03027X100	2,096	$463,258	0.18%
112	XCEL ENERGY INC	XELLL	6,622	$450,958	0.18%
113	CHUBB LIMITED	CB	1,547	$448,197	0.17%
114	NORTHROP GRUMMAN CORP	NOC	889	$444,482	0.17%
115	THE CIGNA GROUP	125523100	1,343	$443,969	0.17%
116	EXXON MOBIL CORP	XOM	4,117	$443,759	0.17%
117	HOME DEPOT INC	HD	1,195	$438,135	0.17%
118	AT&T INC	T-PC	15,092	$436,762	0.17%
119	BLACKSTONE INC	BX	2,885	$431,538	0.17%
120	AVERY DENNISON CORP	AVY	2,436	$427,357	0.17%
121	ACCENTURE PLC IRELAND	ACN	1,429	$426,964	0.17%
122	SALESFORCE INC	CRM	1,535	$418,579	0.16%
123	ABBVIE INC	ABBV	2,246	$416,903	0.16%
124	AMGEN INC	AMGN	1,487	$415,185	0.16%
125	KENVUE INC	KVUE	19,480	$407,716	0.16%
126	ALLSTATE CORP	ALL-PJ	2,007	$404,029	0.16%
127	PEPSICO INC	PEP	3,001	$396,252	0.15%
128	INNOVATOR ETFS TRUST	INHD	7,441	$379,565	0.15%
129	ISHARES TR	464288414	3,601	$376,232	0.15%
130	CONSTELLATION BRANDS INC	STZ	2,308	$375,465	0.15%
131	WENDYS CO	95058W100	29,908	$341,549	0.13%
132	FIRST TR EXCHNG TRADED FD VI	33740F540	14,006	$325,079	0.13%
133	AIM ETF PRODUCTS TRUST	00888H307	6,679	$278,848	0.11%
134	ISHARES TR	464288570	2,300	$267,168	0.10%
135	INNOVATOR ETFS TRUST	INHD	8,520	$263,395	0.10%
136	CINTAS CORP	CTAS	1,080	$240,700	0.09%
137	ARK ETF TR	00214Q401	1,514	$223,497	0.09%
138	AMPLIFY ETF TR	032108607	3,795	$216,732	0.08%