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Name

As of 06/02/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Brown Advisory Flexible Equity Fund

BAFAX | Fund

$44.51

$993 M

0.08%

$0.03

0.92%

Vitals

YTD Return

5.3%

1 yr return

13.5%

3 Yr Avg Return

18.3%

5 Yr Avg Return

10.3%

Net Assets

$993 M

Holdings in Top 10

45.8%

52 WEEK LOW AND HIGH

$44.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.92%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 13.00%

Redemption Fee 1.00%

Min Investment

Standard (Taxable)

$100

IRA

$100

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/02/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Brown Advisory Flexible Equity Fund

BAFAX | Fund

$44.51

$993 M

0.08%

$0.03

0.92%

BAFAX - Profile

Distributions

  • YTD Total Return 5.3%
  • 3 Yr Annualized Total Return 18.3%
  • 5 Yr Annualized Total Return 10.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.15%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Brown Advisory Flexible Equity Fund
  • Fund Family Name
    Brown Advisory Funds
  • Inception Date
    Oct 19, 2012
  • Shares Outstanding
    171409
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Maneesh Bajaj

Fund Description

Under normal conditions, Brown Advisory LLC (the “Adviser”) seeks to achieve the Fund’s investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in equity securities. The Fund invests primarily in a portfolio of equity securities issued by large, middle and small capitalization companies that the Adviser believes have strong, or improving, long-term business characteristics and share prices that do not reflect certain favorable fundamental attributes. Such attributes include what the Adviser believes are favorable business economics supported by enduring competitive advantages, capable and trustworthy management, positive industry dynamics and sensible capital allocation.
The Adviser does not limit its investments to securities of a particular market cap range but the focus is generally on companies with market capitalizations greater than $2 billion at time of purchase. Equity securities include domestic and foreign common and preferred stock, convertible debt securities, American Depositary Receipts (“ADRs”), real estate investment trusts (“REITs”), exchange traded funds (“ETFs”), and business development companies (“BDCs”). The Fund may also invest in private placements in these types of securities. The Fund may invest in ETFs and BDCs that have an investment objective similar to the Fund’s or that otherwise are permitted investments with the Fund’s investment policies described herein. ADRs are equity securities traded on U.S. securities exchanges, which are generally issued by banks or trust companies to evidence ownership of foreign equity securities. The Fund may invest up to 15% of its net assets in foreign securities, including emerging markets.
The Adviser follows an investment philosophy referred to as “flexible equity.” Flexibility allows the Adviser to implement both growth and value styles and look across market cap ranges, expanding the bargain hunting concepts of value investing to a broader range of opportunities. The Adviser emphasizes individual security selection based on identifying long-term attractive businesses, i.e., those with significant desirable traits and few or no undesirable traits, when they are available at what the Adviser considers to be bargain prices. Desirable traits include favorable business economics supported by enduring competitive advantages, capable and trustworthy management, positive industry dynamics and sensible capital allocation. The Adviser believes that bargain prices most often arise in the stock market due to short-term investor perceptions or temporary business challenges creating undue price declines and price recovery potential, or unrecognized favorable prospects within a business or changes for the better in company management or industry conditions.
With respect to 20% of its assets, the Fund may invest in investment grade securities or unrated securities determined by the Adviser to be of comparable quality.
The sale of a company’s equity securities may arise if the securities’ market price exceeds the Adviser’s estimate of intrinsic value, if the ratio of risk and rewards of continuing to own the company’s equity is no longer attractive (i.e., the Adviser believes the downside return potential exceeds the upside return potential when considering the range of estimated future security prices), or if the Adviser needs to raise cash to purchase a more attractive investment opportunity, satisfy net redemptions, or other purposes.
In order to respond to adverse market, economic, political, or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and principal investment strategy and invest without limit in cash and prime quality cash equivalents such as prime commercial paper and other money market instruments. A defensive position, taken at the wrong time, may have an adverse impact on the Fund’s performance. The Fund may be unable to achieve its investment objective during the employment of a temporary defensive measure.
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BAFAX - Performance

Return Ranking - Trailing

Period BAFAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% -10.0% 61.7% 78.53%
1 Yr 13.5% -13.2% 127.7% 83.73%
3 Yr 18.3%* 2.8% 66.8% 81.53%
5 Yr 10.3%* -8.2% 36.6% 71.56%
10 Yr 14.6%* 6.8% 24.6% 72.52%

* Annualized

Return Ranking - Calendar

Period BAFAX Return Category Return Low Category Return High Rank in Category (%)
2025 3.5% -74.1% 41.2% 57.49%
2024 18.1% -59.2% 52.3% 54.26%
2023 30.8% -15.0% 72.4% 53.98%
2022 -23.8% -85.9% 27.3% 11.27%
2021 20.1% -52.4% 38.7% 15.69%

Total Return Ranking - Trailing

Period BAFAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% -10.0% 61.7% 78.53%
1 Yr 13.5% -13.2% 127.7% 83.73%
3 Yr 18.3%* 2.8% 66.8% 81.53%
5 Yr 10.3%* -8.2% 36.6% 71.56%
10 Yr 14.6%* 6.8% 24.6% 72.52%

* Annualized

Total Return Ranking - Calendar

Period BAFAX Return Category Return Low Category Return High Rank in Category (%)
2025 9.5% -4.9% 49.3% 87.07%
2024 23.4% -31.9% 52.3% 74.73%
2023 34.2% -4.6% 72.4% 62.73%
2022 -21.3% -61.7% 35.0% 15.15%
2021 24.6% -39.8% 40.0% 30.58%

NAV & Total Return History

BAFAX - Holdings

Concentration Analysis

BAFAX Category Low Category High BAFAX % Rank
Net Assets 993 M 1.46 M 440 B 64.29%
Number of Holdings 45 2 2946 71.40%
Net Assets in Top 10 411 M 1.51 M 203 B 65.62%
Weighting of Top 10 45.77% 10.7% 205.0% 78.68%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 6.50%
  2. Microsoft Corp 5.72%
  3. Meta Platforms Inc 5.08%
  4. Amazon.com Inc 4.68%
  5. Visa Inc 4.20%
  6. Mastercard Inc 4.17%
  7. Alphabet Inc 4.15%
  8. Alphabet Inc 3.94%
  9. Berkshire Hathaway Inc 3.76%
  10. KKR Co Inc 3.57%

Asset Allocation

Weighting Return Low Return High BAFAX % Rank
Stocks 		99.40% 0.00% 116.50% 36.14%
Cash 		0.66% 0.00% 173.52% 55.34%
Preferred Stocks 		0.00% 0.00% 24.75% 64.25%
Other 		0.00% -24.61% 25.67% 63.47%
Convertible Bonds 		0.00% 0.00% 1.94% 58.29%
Bonds 		0.00% 0.00% 99.61% 60.04%

Stock Sector Breakdown

Weighting Return Low Return High BAFAX % Rank
Financial Services 		29.19% 0.00% 43.06% 0.79%
Technology 		18.08% 0.00% 65.70% 96.07%
Consumer Cyclical 		13.17% 0.00% 62.57% 66.83%
Healthcare 		12.81% 0.00% 39.76% 49.07%
Communication Services 		11.79% 0.00% 66.40% 36.80%
Industrials 		6.43% 0.00% 30.65% 48.87%
Energy 		3.85% 0.00% 41.09% 15.41%
Consumer Defense 		1.77% 0.00% 25.50% 75.86%
Real Estate 		1.64% 0.00% 8.88% 38.86%
Basic Materials 		1.27% 0.00% 18.91% 47.69%
Utilities 		0.00% 0.00% 16.07% 71.34%

Stock Geographic Breakdown

Weighting Return Low Return High BAFAX % Rank
US 		99.40% 0.00% 116.50% 28.21%
Non US 		0.00% 0.00% 39.07% 68.66%

BAFAX - Expenses

Operational Fees

BAFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.92% 0.01% 13.08% 49.16%
Management Fee 0.42% 0.00% 1.50% 16.78%
12b-1 Fee 0.25% 0.00% 1.00% 44.68%
Administrative Fee N/A 0.01% 1.02% N/A

Sales Fees

BAFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BAFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 80.95%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BAFAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.00% 0.00% 316.74% 15.56%

BAFAX - Distributions

Dividend Yield Analysis

BAFAX Category Low Category High BAFAX % Rank
Dividend Yield 0.08% 0.00% 27.58% 41.72%

Dividend Distribution Analysis

BAFAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

BAFAX Category Low Category High BAFAX % Rank
Net Income Ratio -0.15% -6.13% 3.48% 36.27%

Capital Gain Distribution Analysis

BAFAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

BAFAX - Fund Manager Analysis

Managers

Maneesh Bajaj

Start Date

Tenure

Tenure Rank

Oct 31, 2017

4.58

4.6%

Maneesh is the portfolio manager for the Flexible Equity strategy. Prior to joining the firm in 2005, he was a strategy consultant at McKinsey & Co., New York. He also worked in Corporate Value Consulting at Standard & Poor’s and in design and development of telecommunication networks at Primus Telecommunications.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 54.45 8.24 2.92

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