Brown Capital Management LLC

Name: BROWN CAPITAL MANAGEMENT LLC 13F holdings, Q1 2025
Creator: BROWN CAPITAL MANAGEMENT LLC
Published: 2025-05-15

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Brown Capital Management LLC reported 105 stock positions worth $3.3 billion. Its top holding was Cyberark Software Ltd./Israel (CYBR) at 6.1% of the portfolio, followed by Veeva Systems Class A (VEEV, 4.6%) and Tyler Technologies (TYL, 4.5%). Compared with Q4 2024, it opened 4 new positions, sold out of 17, added to 12 and reduced 83. The biggest buy was a new position in Transmedics (TMDX) and the biggest sale an exit from Smartsheet Class A (SMAR).

Most Recent 13F: Q2 2026
Location: BALTIMORE, MD
CIK: 0000885062
Portfolio Value: $3.3B (Q1 2025)
SEC Filing: 0001398344-25-009553 ↗ filed May 15, 2025

Holdings Value

Holdings 105 stocks · $3.3B


CYBR Cyberark Software Ltd./Israel	6.07%	595,620	$201.3M	Reduce -5.3%
VEEV Veeva Systems Inc. Class A	4.56%	653,685	$151.4M	Reduce -11.0%
TYL Tyler Technologies Inc.	4.49%	256,486	$149.1M	Reduce -16.1%
GWRE Guidewire Software Inc.	4.34%	769,378	$144.2M	Reduce -25.6%
APPF Appfolio Inc. Class A	4.06%	611,829	$134.5M	Reduce -10.3%
VCEL Vericel Corp.	3.88%	2,882,147	$128.6M	Reduce -10.9%
DDOG Datadog Inc. Class A	3.64%	1,216,492	$120.7M	Reduce -10.3%
GKOS Glaukos Corp.	3.54%	1,192,589	$117.4M	Reduce -11.5%
MANH Manhattan Associates Inc.	3.53%	677,375	$117.2M	Reduce -0.1%
PAYC Paycom Software Inc.	3.32%	504,175	$110.2M	Reduce -15.5%
RGEN Repligen Corp.	3.31%	864,035	$109.9M	Reduce -9.5%
ANSS Ansys Inc.	3.22%	337,537	$106.9M	Reduce -12.5%
ALRM Alarm.com Holdings Inc.	3.01%	1,796,158	$100.0M	Reduce -24.9%
QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC	3.01%	1,247,471	$99.8M	Reduce -12.1%
TECH Bio-Techne Corp.	2.95%	1,668,428	$97.8M	Reduce -9.7%
XMTR Xometry Inc. Class A	2.34%	3,113,382	$77.6M	Reduce -9.7%
GLBE Global-E Online Ltd.	2.30%	2,139,077	$76.3M	Add +16.3%
CGNX Cognex Corp.	2.15%	2,392,756	$71.4M	Reduce -9.5%
CAMT Camtek Ltd.	1.95%	1,101,652	$64.6M	Add +2.8%
FLUT Flutter Entertainment PLC-Di	1.86%	279,101	$61.8M	Add +2.7%
NCNO Ncino Inc.	1.81%	2,180,399	$59.9M	Reduce -7.2%
ENFN Enfusion Inc. Class A	1.73%	5,143,042	$57.3M	Reduce -28.0%
INSP Inspire Medical Systems Inc.	1.69%	352,340	$56.1M	Add +15.6%
CWAN Clearwater Analytics HDS-A	1.67%	2,072,731	$55.5M	Reduce -6.2%
WK Workiva Inc.	1.59%	695,479	$52.8M	Reduce -9.9%
MELI MercadoLibre Inc.	1.58%	26,813	$52.3M	Add +1.7%
AGYS Agilysys Inc.	1.41%	643,329	$46.7M	Add +3.9%
OLO Olo Inc. Class A	1.28%	7,006,341	$42.3M	Reduce -12.7%
ERII Energy Recovery Inc.	1.24%	2,595,951	$41.2M	Reduce -11.1%
KIDS Orthopediatrics Corp.	1.24%	1,670,525	$41.1M	Reduce -11.3%
SHOP Shopify Inc. Class A	1.22%	423,719	$40.4M	Reduce -2.7%
HLIO Helios Technologies Inc.	1.14%	1,175,408	$37.7M	Reduce -23.2%
SPSC SPS Commerce Inc.	1.07%	266,802	$35.4M	Add +170.6%
VICR Vicor Corp.	1.04%	737,043	$34.5M	Reduce -9.6%
ICLR Icon PLC	0.96%	182,045	$31.9M	Add +1.4%
TMDX Transmedics Group Inc.	0.95%	468,123	$31.5M	New
UFPT Ufp Technologies Inc.	0.93%	153,318	$30.9M	Add +100.5%
DV Doubleverify Holdings Inc.	0.90%	2,241,746	$30.0M	Add +32.8%
CTKB Cytek Biosciences Inc.	0.90%	7,463,967	$29.9M	Reduce -9.5%
BMI Badger Meter Inc.	0.81%	141,381	$26.9M	New
MNDY Monday.com Ltd.	0.76%	103,543	$25.2M	Reduce -2.9%
CYRX Cryoport Inc.	0.74%	4,053,610	$24.6M	Reduce -9.1%
RXST Rxsight Inc.	0.72%	947,288	$23.9M	Add +12.5%
DUOL Duolingo	0.71%	76,184	$23.7M	Add +39.0%
TEAM Atlassian Corp. Class A	0.71%	110,488	$23.4M	Reduce -2.7%
VERX Vertex Inc. Class A	0.70%	664,845	$23.3M	Reduce -3.5%
CHKP Check Point Software Tech	0.46%	67,259	$15.3M	Reduce -8.6%
RDVT Red Violet Inc.	0.41%	357,432	$13.4M	New
PRO Pros Holdings Inc.	0.36%	619,675	$11.8M	Reduce -21.1%
TNDM Tandem Diabetes Care Inc.	0.34%	591,014	$11.3M	Reduce -7.9%
MSFT Microsoft Corp.	0.12%	10,274	$3.9M	Reduce -39.6%
AAPL Apple Inc.	0.09%	13,898	$3.1M	Reduce -65.7%
META Meta Platforms Inc. Class A	0.08%	4,888	$2.8M	Reduce -15.2%
TSCO Tractor Supply Company	0.07%	42,485	$2.3M	Reduce -36.2%
GWW WW Grainger Inc. filed as GRAINGER W W INC	0.07%	2,340	$2.3M	No change
GOOGL Alphabet Inc. Class A	0.07%	14,782	$2.3M	Reduce -61.6%
AMZN Amazon.com Inc.	0.06%	10,494	$2.0M	Reduce -52.6%
HD Home Depot Inc.	0.05%	4,964	$1.8M	Reduce -43.6%
ADP Automatic Data Processing	0.04%	4,568	$1.4M	Reduce -21.5%
MA Mastercard Inc. Class A	0.04%	2,234	$1.2M	Reduce -64.1%
ABBV Abbvie Inc.	0.04%	5,694	$1.2M	Reduce -9.7%
NVDA Nvidia Corp.	0.03%	10,293	$1.1M	Reduce -4.9%
DKS Dick's Sporting Goods Inc.	0.03%	5,475	$1.1M	No change
MCD McDonald's Corp.	0.03%	3,439	$1.1M	Reduce -23.2%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC	0.03%	11,292	$1.0M	Reduce -46.7%
ECL Ecolab Inc.	0.03%	4,026	$1.0M	Reduce -40.4%
WEC WEC Energy Group Inc.	0.03%	8,382	$913K	Reduce -15.6%
PEP Pepsico Inc.	0.02%	5,500	$825K	Reduce -24.5%
PG The Procter & Gamble Co.	0.02%	4,787	$816K	Reduce -12.1%
ITW Illinois Tool Works	0.02%	3,280	$813K	Reduce -2.1%
ABT Abbott Laboratories	0.02%	5,841	$775K	Reduce -24.9%
FISV Fiserv Inc.	0.02%	3,287	$726K	Reduce -47.0%
JPM JPMorgan Chase & Co.	0.02%	2,784	$683K	Reduce -34.0%
HUBS HubSpot Inc.	0.02%	1,186	$678K	Reduce -49.5%
CMG Chipotle Mexican Grill Inc.	0.02%	12,811	$643K	Reduce -34.4%
UPS United Parcel Service Class B	0.02%	5,701	$627K	Reduce -19.7%
SYY Sysco Corp.	0.02%	8,327	$625K	Reduce -19.2%
ORCL Oracle Corp.	0.02%	4,006	$560K	Reduce -32.0%
PODD Insulet Corp.	0.01%	1,899	$499K	Reduce -44.0%
FAST Fastenal Co.	0.01%	5,769	$447K	Reduce -50.9%
ADBE Adobe Inc.	0.01%	1,081	$415K	Reduce -43.4%
JNJ Johnson & Johnson	0.01%	2,437	$404K	No change
PWR Quanta Services Inc.	0.01%	1,558	$396K	Reduce -3.1%
YORW York Water Co. filed as YORK WTR CO	0.01%	11,250	$390K	No change
SBUX Starbucks Corp.	0.01%	3,942	$387K	Reduce -46.4%
ADSK Autodesk Inc.	0.01%	1,433	$375K	Reduce -40.2%
FICO Fair Isaac Corp.	0.01%	183	$337K	No change
CRM Salesforce Inc.	0.01%	1,249	$335K	Reduce -59.5%
PAYX Paychex Inc.	0.01%	2,030	$313K	Reduce -21.2%
DRI Darden Restaurants Inc.	0.01%	1,506	$313K	Reduce -34.2%
TGT Target Corp.	0.01%	2,844	$297K	No change
BR Broadridge Financial Solutio	0.01%	1,169	$283K	Reduce -68.9%
SCHW Schwab (charles) Corp.	0.01%	3,527	$276K	Reduce -9.1%
EW Edwards Lifesciences Corp.	0.01%	3,508	$254K	Reduce -53.2%
MTB M & T Bank Corp. filed as M & T BK CORP	0.01%	1,420	$254K	Reduce -18.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.01%	2,072	$252K	Reduce -10.2%
SNA Snap-on Inc.	0.01%	742	$250K	Reduce -33.7%
MS Morgan Stanley	0.01%	2,069	$241K	Reduce -35.1%
APD Air Products & Chemicals Inc.	0.01%	804	$237K	Reduce -39.8%
HRB H&R Block Inc. filed as BLOCK H & R INC	0.01%	4,189	$230K	Reduce -33.9%

Show all 105 holdings

Portfolio Sells Q4 2024 → Q1 2025


SMAR Smartsheet Inc. Class A	Sold out	0.00%	−1.26
GKOS Glaukos Corp.	Reduce -11.5%	3.54%	−1.15
XMTR Xometry Inc. Class A	Reduce -9.7%	2.34%	−1.07
DDOG Datadog Inc. Class A	Reduce -10.3%	3.64%	−0.86
MANH Manhattan Associates Inc.	Reduce -0.1%	3.53%	−0.71
TXG 10X Genomics Inc. Class A	Sold out	0.00%	−0.61
HLIO Helios Technologies Inc.	Reduce -23.2%	1.14%	−0.45
NARI Inari Medical Inc.	Sold out	0.00%	−0.41
WK Workiva Inc.	Reduce -9.9%	1.59%	−0.37
ALRM Alarm.com Holdings Inc.	Reduce -24.9%	3.01%	−0.36
CTKB Cytek Biosciences Inc.	Reduce -9.5%	0.90%	−0.34
QTWO Q2 Holdings Inc.	Reduce -12.1%	3.01%	−0.30
INGN Inogen Inc.	Sold out	0.00%	−0.29
VCEL Vericel Corp.	Reduce -10.9%	3.88%	−0.24
TNDM Tandem Diabetes Care Inc.	Reduce -7.9%	0.34%	−0.19
OLO Olo Inc. Class A	Reduce -12.7%	1.28%	−0.15
VERX Vertex Inc. Class A	Reduce -3.5%	0.70%	−0.15
AAPL Apple Inc.	Reduce -65.7%	0.09%	−0.14
TECH Bio-Techne Corp.	Reduce -9.7%	2.95%	−0.14
GOOGL Alphabet Inc. Class A	Reduce -61.6%	0.07%	−0.10
CYRX Cryoport Inc.	Reduce -9.1%	0.74%	−0.06
AMZN Amazon.com Inc.	Reduce -52.6%	0.06%	−0.05
MSFT Microsoft Corp.	Reduce -39.6%	0.12%	−0.05
CGNX Cognex Corp.	Reduce -9.5%	2.15%	−0.05
PRO Pros Holdings Inc.	Reduce -21.1%	0.36%	−0.04
MA Mastercard Inc. Class A	Reduce -64.1%	0.04%	−0.04
V Visa Inc. Class A	Sold out	0.00%	−0.03
HD Home Depot Inc.	Reduce -43.6%	0.05%	−0.02
TROW T Rowe Price Group Inc.	Reduce -46.7%	0.03%	−0.02
NCNO Ncino Inc.	Reduce -7.2%	1.81%	−0.02
HUBS HubSpot Inc.	Reduce -49.5%	0.02%	−0.02
ORLY O'reilly Automotive Inc.	Sold out	0.00%	−0.02
CRM Salesforce Inc.	Reduce -59.5%	0.01%	−0.01
TSCO Tractor Supply Company	Reduce -36.2%	0.07%	−0.01
BR Broadridge Financial Solutio	Reduce -68.9%	0.01%	−0.01
ALGN Align Technology Inc.	Sold out	0.00%	−0.01
EXPE Expedia Group Inc.	Sold out	0.00%	−0.01
TXN Texas Instruments Inc.	Sold out	0.00%	−0.01
CMG Chipotle Mexican Grill Inc.	Reduce -34.4%	0.02%	−0.01
FISV Fiserv Inc.	Reduce -47.0%	0.02%	−0.01
ADBE Adobe Inc.	Reduce -43.4%	0.01%	−0.01
LLY Eli Lilly & Co.	Sold out	0.00%	−0.01
SITE Siteone Landscape Supply Inc.	Sold out	0.00%	−0.01
GIS General Mills Inc.	Sold out	0.00%	−0.01
FAST Fastenal Co.	Reduce -50.9%	0.01%	−0.01
DHR Danaher Corp.	Sold out	0.00%	−0.01
ECL Ecolab Inc.	Reduce -40.4%	0.03%	−0.01
ORCL Oracle Corp.	Reduce -32.0%	0.02%	−0.01
MASI Masimo Corp.	Sold out	0.00%	−0.01
PODD Insulet Corp.	Reduce -44.0%	0.01%	−0.01

Portfolio Buys Q4 2024 → Q1 2025


TMDX Transmedics Group Inc.	New	0.95%	+0.95
BMI Badger Meter Inc.	New	0.81%	+0.81
SPSC SPS Commerce Inc.	Add +170.6%	1.07%	+0.65
MELI MercadoLibre Inc.	Add +1.7%	1.58%	+0.54
UFPT Ufp Technologies Inc.	Add +100.5%	0.93%	+0.50
RDVT Red Violet Inc.	New	0.41%	+0.41
INSP Inspire Medical Systems Inc.	Add +15.6%	1.69%	+0.38
DUOL Duolingo	Add +39.0%	0.71%	+0.30
FLUT Flutter Entertainment PLC-Di	Add +2.7%	1.86%	+0.24
DV Doubleverify Holdings Inc.	Add +32.8%	0.90%	+0.15
ICLR Icon PLC	Add +1.4%	0.96%	+0.09
RXST Rxsight Inc.	Add +12.5%	0.72%	+0.05
PM Philip Morris International	New	0.01%	+0.01
GLBE Global-E Online Ltd.	Add +16.3%	2.30%	−0.03
CAMT Camtek Ltd.	Add +2.8%	1.95%	−0.06
AGYS Agilysys Inc.	Add +3.9%	1.41%	−0.48

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	54	$500.2M	CAMT, CGNX, DDOG, XMTR, GLBE
Q1 2026	56	$704.0M	CAMT, GLBE, CLBT, GKOS, MELI
Q4 2025	55	$1.2B	CAMT, GLBE, CYBR, RGEN, XMTR
Q3 2025	54	$2.4B	CYBR, CAMT, VEEV, DDOG, GWRE
Q2 2025	83	$3.4B	CYBR, VEEV, GWRE, DDOG, TYL
Q1 2025	105	$3.3B	CYBR, VEEV, TYL, GWRE, APPF
Q4 2024	118	$4.3B	CYBR, GKOS, DDOG, MANH, VCEL
Q3 2024	133	$4.6B	GWRE, MANH, TYL, GKOS, CYBR
Q2 2024	130	$4.9B	GWRE, MANH, DDOG, TYL, GKOS
Q1 2024	133	$5.7B	APPF, MANH, VEEV, DDOG, VCEL