Brown Capital Management
BALTIMORE, MDfiles as BROWN CAPITAL MANAGEMENT LLC
$500m in 54 US stocks at the end of 30 June 2026. The top 10 are 45.7% of the money. It changed about 30.1% of the portfolio this quarter.
Value
$500m
Stocks
54
Top 10 share
45.7%
Turnover
30.1%
What changed this quarter
New
Bought for the first time this quarter.
- Warby ParkerWRBY0.8% of the fund
- Park AerospacePKE0.8% of the fund
- Karman HoldingsKRMN0.6% of the fund
- American SuperconductorAMSC0.6% of the fund
- Figure Technology SolutionsFIGR0.6% of the fund
- HeartflowHTFL0.5% of the fund
- Amazon.comAMZN<0.1% of the fund
Added
Bought more of a stock they already held.
- Guidewire SoftwareGWRE3.3% of the fund+2%
- Loar HoldingsLOAR1.4% of the fund+14%
- Krystal BiotechKRYS0.8% of the fund+19%
- XpelXPEL0.8% of the fund+53%
- SitimeSITM0.7% of the fund+3%
Cut
Sold some of their stake.
- CamtekCAMT5.8% of the fund-71%
- CognexCGNX5.1% of the fund-15%
- DatadogDDOG5.1% of the fund-45%
- XometryXMTR5.0% of the fund-38%
- Global-E OnlineGLBE4.8% of the fund-51%
- GlaukosGKOS4.7% of the fund-27%
- VericelVCEL4.5% of the fund-15%
- RepligenRGEN3.8% of the fund-17%
- Veeva SystemsVEEV3.5% of the fund-13%
- Cellebrite DICLBT3.3% of the fund-58%
- Manhattan AssociatesMANH3.2% of the fund-13%
- AppfolioAPPF3.2% of the fund-8%
- Bio-TechneTECH2.8% of the fund-36%
- AgilysysAGYS2.8% of the fund-14%
- UFP TechnologiesUFPT2.7% of the fund-14%
- Tyler TechnologiesTYL2.2% of the fund-28%
- CryoportCYRX2.1% of the fund-14%
- Q2 HoldingsQTWO2.1% of the fund-14%
- AxogenAXGN2.1% of the fund-13%
- Badger MeterBMI1.8% of the fund-14%
- Red VioletRDVT1.5% of the fund-14%
- Corcept TherapeuticsCORT1.5% of the fund-10%
- PDF SolutionsPDFS1.4% of the fund-2%
- Paycom SoftwarePAYC1.4% of the fund-48%
- WorkivaWK1.2% of the fund-14%
Sold out
Sold their entire stake.
- MercadoLibreMELI-100%
- ShopifySHOP-100%
- IconICLR-100%
- Clearwater Analytics Hldgs I-100%
- Flutter EntertainmentFLUT-100%
- AtlassianTEAM-100%
- Cytek BiosciencesCTKB-100%
- DoubleVerify HoldingsDV-100%
- Check Point Software TechnologiesCHKP-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| CamtekCAMT | 5.8% | $29m | 178,944 | -71% |
| CognexCGNX | 5.1% | $25m | 351,942 | -15% |
| DatadogDDOG | 5.1% | $25m | 97,832 | -45% |
| XometryXMTR | 5.0% | $25m | 259,008 | -38% |
| Global-E OnlineGLBE | 4.8% | $24m | 685,480 | -51% |
| GlaukosGKOS | 4.7% | $23m | 167,920 | -27% |
| VericelVCEL | 4.5% | $22m | 504,049 | -15% |
| RepligenRGEN | 3.8% | $19m | 140,899 | -17% |
| Veeva SystemsVEEV | 3.5% | $18m | 99,469 | -13% |
| Cellebrite DICLBT | 3.3% | $17m | 1,140,261 | -58% |
| Guidewire SoftwareGWRE | 3.3% | $16m | 133,623 | +2% |
| Manhattan AssociatesMANH | 3.2% | $16m | 116,118 | -13% |
| AppfolioAPPF | 3.2% | $16m | 99,549 | -8% |
| Bio-TechneTECH | 2.8% | $14m | 197,665 | -36% |
| AgilysysAGYS | 2.8% | $14m | 132,299 | -14% |
| UFP TechnologiesUFPT | 2.7% | $13m | 50,689 | -14% |
| Tyler TechnologiesTYL | 2.2% | $11m | 38,028 | -28% |
| CryoportCYRX | 2.1% | $11m | 670,057 | -14% |
| Q2 HoldingsQTWO | 2.1% | $11m | 218,489 | -14% |
| AxogenAXGN | 2.1% | $10m | 225,207 | -13% |
| Badger MeterBMI | 1.8% | $9m | 62,218 | -14% |
| Red VioletRDVT | 1.5% | $7m | 116,602 | -14% |
| Corcept TherapeuticsCORT | 1.5% | $7m | 84,041 | -10% |
| PDF SolutionsPDFS | 1.4% | $7m | 102,231 | -2% |
| Loar HoldingsLOAR | 1.4% | $7m | 84,816 | +14% |
| Paycom SoftwarePAYC | 1.4% | $7m | 53,823 | -48% |
| WorkivaWK | 1.2% | $6m | 128,497 | -14% |
| nCinoNCNO | 1.2% | $6m | 370,368 | -30% |
| TransMedics GroupTMDX | 1.2% | $6m | 89,828 | -8% |
| Mama's CreationsMAMA | 1.2% | $6m | 328,395 | -9% |
| VeracyteVCYT | 1.1% | $6m | 96,023 | -11% |
| Alarm.com HoldingsALRM | 1.1% | $6m | 120,604 | -66% |
| VertexVERX | 0.9% | $4m | 373,824 | -14% |
| Credo Technology Group HoldingCRDO | 0.9% | $4m | 15,703 | Held |
| Warby ParkerWRBY | 0.8% | $4m | 139,589 | New |
| Park AerospacePKE | 0.8% | $4m | 108,882 | New |
| Krystal BiotechKRYS | 0.8% | $4m | 10,968 | +19% |
| XpelXPEL | 0.8% | $4m | 79,064 | +53% |
| DuolingoDUOL | 0.7% | $3m | 30,304 | -14% |
| SitimeSITM | 0.7% | $3m | 4,614 | +3% |
| Karman HoldingsKRMN | 0.6% | $3m | 62,678 | New |
| OrthopediatricsKIDS | 0.6% | $3m | 153,314 | -51% |
| American SuperconductorAMSC | 0.6% | $3m | 68,156 | New |
| Figure Technology SolutionsFIGR | 0.6% | $3m | 91,344 | New |
| Energy RecoveryERII | 0.5% | $3m | 282,866 | -47% |
| IntappINTA | 0.5% | $2m | 98,603 | -13% |
| HeartflowHTFL | 0.5% | $2m | 82,091 | New |
| AvePointAVPT | 0.5% | $2m | 206,292 | -13% |
| SPS CommerceSPSC | 0.4% | $2m | 38,208 | -47% |
| Inspire Medical SystemsINSP | 0.4% | $2m | 43,951 | -48% |
| RxSightRXST | 0.2% | $1m | 216,300 | -13% |
| AppleAAPL | <0.1% | $275,471 | 952 | Held |
| AlphabetGOOGL | <0.1% | $265,883 | 744 | Held |
| Amazon.comAMZN | <0.1% | $215,221 | 903 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 85.5% since 30 June 2025.
Where the money is
Technology52.4%
Health care33.3%
Industrials11.8%
Everyday goods1.2%
Retail & consumer0.7%
Financial services0.6%
Media & telecom0.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.