BROWN CAPITAL MANAGEMENT, LLC

CRD 105633File 801-19287

APPROVED

Retail clients

Disclosure events

Filing as of Jul 13, 2026

Feed vintage Oct 1, 2026

Regulatory AUM

$4.54B

Top 25% of cohort (national)

Discretionary AUM

$4.54B

Clients

33 accounts

Employees

Top 25% of cohort in MD

Identity & registration

ADV Item 1

Organization form: Limited Liability Company
Firm type: Registered
SEC region: PLRO
Registration date: Jul 14, 1983
Principal office: 1201 N CALVERT ST, BALTIMORE, MD, 21202-3908
Phone: 410-837-3234
Website: HTTP://WWW.BROWNCAPITAL.COM/

Assets & accounts

ADV Item 5F

Total regulatory AUM: $4.54B
Discretionary AUM: $4.54B
Non-discretionary AUM: $0
Discretionary accounts: 33
Non-discretionary accounts: 0
Total accounts: 33
AUM per client: $137.5M

Clients by type

ADV Item 5D

Client type	Clients	AUM
Other	5	$356.1M
Insurance companies	1	$50.3M
Investment companies	3	$2.50B
Charitable organizations	10	$402.3M
High net worth individuals	1	$2.0M
Pension and profit sharing plans	2	$63.9M
State or municipal government entities	11	$1.17B

Compensation & activities

ADV Items 5E, 5G

Compensation

Performance-based fees
A percentage of assets under your management

Advisory activities

Portfolio management for businesses
Portfolio management for investment companies
Portfolio management for individuals and/or small businesses

Custody

ADV Item 9

Firm Custody Cash: No
Firm Custody Assets: No
Firm Custody Clients: No
Firm Custody Securities: No
Related Person Custody Cash: No
Related Person Custody Assets: No
Related Person Custody Clients: No
Related Person Custody Securities: No

Disclosure events

ADV Item 11

Q11G

Filed changes

Date	Field	From	To	Change
Apr 1, 2026	Employees	36	37	increased by1
Apr 1, 2026	Clients	109	33	decreased by76
Apr 1, 2026	AUM	$8,098,760,315	$4,536,497,889	decreased by$3,562,262,426
Apr 1, 2026	Accounts	109	33	decreased by76
Mar 1, 2026	Disclosures	No	Yes
May 1, 2025 vs Oct 1, 2022	Employees	38	36	decreased by2
May 1, 2025 vs Oct 1, 2022	Clients	127	109	decreased by18
May 1, 2025 vs Oct 1, 2022	AUM	$17,575,999,316	$8,098,760,315	decreased by$9,477,239,001
May 1, 2025 vs Oct 1, 2022	Accounts	127	109	decreased by18
Apr 1, 2022	Employees	36	38	increased by2
Apr 1, 2022	Clients	126	127	increased by1
Apr 1, 2022	AUM	$18,483,780,636	$17,575,999,316	decreased by$907,781,320
Apr 1, 2022	Accounts	126	127	increased by1
Apr 1, 2021	Registration	—	APPROVED

On Form 5500, an adviser usually appears as a plan service provider (Schedule C), not the plan sponsor.

See plans that list “BROWN CAPITAL” as a service provider on 5500mcp →

Matched by name only — Form ADV and Form 5500 share no identifier, and names are searched loosely (“BROWN CAPITAL” may also match similarly-named firms). Confirm identity against each filing.

Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.