Brown Capital Management LLC

Name: BROWN CAPITAL MANAGEMENT LLC 13F holdings, Q2 2025
Creator: BROWN CAPITAL MANAGEMENT LLC
Published: 2025-08-13

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

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Brown Capital Management LLC reported 83 stock positions worth $3.4 billion. Its top holding was Cyberark Software Ltd./Israel (CYBR) at 7.0% of the portfolio, followed by Veeva Systems Class A (VEEV, 4.7%) and Guidewire Software (GWRE, 4.4%). Compared with Q1 2025, it opened 1 new position, sold out of 23, added to 13 and reduced 69. The biggest buy was Camtek (CAMT, shares +3%) and the biggest sale an exit from Enfusion Class A (ENFN).

Most Recent 13F: Q2 2026
Location: BALTIMORE, MD
CIK: 0000885062
Portfolio Value: $3.4B (Q2 2025)
SEC Filing: 0001398344-25-015312 ↗ filed Aug 13, 2025

Holdings Value

Holdings 83 stocks · $3.4B


CYBR Cyberark Software Ltd./Israel	7.04%	594,888	$242.0M	Reduce -0.1%
VEEV Veeva Systems Inc. Class A	4.66%	556,852	$160.4M	Reduce -14.8%
GWRE Guidewire Software Inc.	4.45%	649,111	$152.8M	Reduce -15.6%
DDOG Datadog Inc. Class A	4.43%	1,133,328	$152.2M	Reduce -6.8%
TYL Tyler Technologies Inc.	4.13%	239,390	$141.9M	Reduce -6.7%
APPF Appfolio Inc. Class A	3.88%	578,745	$133.3M	Reduce -5.4%
MANH Manhattan Associates Inc.	3.72%	648,232	$128.0M	Reduce -4.3%
RGEN Repligen Corp.	3.64%	1,005,276	$125.0M	Add +16.4%
VCEL Vericel Corp.	3.48%	2,812,009	$119.7M	Reduce -2.4%
GKOS Glaukos Corp.	3.42%	1,139,119	$117.7M	Reduce -4.5%
PAYC Paycom Software Inc.	3.19%	474,655	$109.8M	Reduce -5.9%
QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC	3.14%	1,153,648	$108.0M	Reduce -7.5%
ANSS Ansys Inc.	2.90%	284,257	$99.8M	Reduce -15.8%
XMTR Xometry Inc. Class A	2.89%	2,943,593	$99.5M	Reduce -5.5%
CAMT Camtek Ltd.	2.80%	1,140,137	$96.4M	Add +3.5%
ALRM Alarm.com Holdings Inc.	2.80%	1,703,557	$96.4M	Reduce -5.2%
TECH Bio-Techne Corp.	2.35%	1,573,603	$81.0M	Reduce -5.7%
FLUT Flutter Entertainment PLC-Di	2.31%	278,374	$79.5M	Reduce -0.3%
AGYS Agilysys Inc.	2.15%	645,183	$74.0M	Add +0.3%
GLBE Global-E Online Ltd.	2.12%	2,173,538	$72.9M	Add +1.6%
CGNX Cognex Corp.	2.09%	2,265,765	$71.9M	Reduce -5.3%
CWAN Clearwater Analytics HDS-A	2.04%	3,199,696	$70.2M	Add +54.4%
MELI MercadoLibre Inc.	1.85%	24,362	$63.7M	Reduce -9.1%
TMDX Transmedics Group Inc.	1.76%	451,371	$60.5M	Reduce -3.6%
OLO Olo Inc. Class A	1.70%	6,560,632	$58.4M	Reduce -6.4%
NCNO Ncino Inc.	1.68%	2,059,875	$57.6M	Reduce -5.5%
VERX Vertex Inc. Class A	1.47%	1,428,394	$50.5M	Add +114.8%
WK Workiva Inc.	1.40%	702,007	$48.1M	Add +0.9%
SHOP Shopify Inc. Class A	1.39%	415,776	$48.0M	Reduce -1.9%
INSP Inspire Medical Systems Inc.	1.39%	367,441	$47.7M	Add +4.3%
UFPT Ufp Technologies Inc.	1.21%	170,811	$41.7M	Add +11.4%
BMI Badger Meter Inc.	1.17%	163,678	$40.1M	Add +15.8%
SPSC SPS Commerce Inc.	1.03%	261,295	$35.6M	Reduce -2.1%
KIDS Orthopediatrics Corp.	0.97%	1,556,704	$33.4M	Reduce -6.8%
DUOL Duolingo	0.94%	79,190	$32.5M	Add +4.0%
MNDY Monday.com Ltd.	0.93%	102,016	$32.1M	Reduce -1.5%
DV Doubleverify Holdings Inc.	0.93%	2,127,337	$31.8M	Reduce -5.1%
ERII Energy Recovery Inc.	0.92%	2,479,294	$31.7M	Reduce -4.5%
CYRX Cryoport Inc.	0.82%	3,798,962	$28.3M	Reduce -6.3%
ICLR Icon PLC	0.76%	179,523	$26.1M	Reduce -1.4%
CTKB Cytek Biosciences Inc.	0.70%	7,109,995	$24.2M	Reduce -4.7%
RDVT Red Violet Inc.	0.67%	469,340	$23.1M	Add +31.3%
TEAM Atlassian Corp. Class A	0.64%	108,757	$22.1M	Reduce -1.6%
CHKP Check Point Software Tech	0.43%	66,201	$14.6M	Reduce -1.6%
RXST Rxsight Inc.	0.42%	1,119,240	$14.6M	Add +18.1%
TNDM Tandem Diabetes Care Inc.	0.30%	551,207	$10.3M	Reduce -6.7%
PRO Pros Holdings Inc.	0.24%	527,485	$8.3M	Reduce -14.9%
AAPL Apple Inc.	0.07%	11,517	$2.4M	Reduce -17.1%
MSFT Microsoft Corp.	0.06%	4,253	$2.1M	Reduce -58.6%
GOOGL Alphabet Inc. Class A	0.06%	11,360	$2.0M	Reduce -23.1%
META Meta Platforms Inc. Class A	0.05%	2,180	$1.6M	Reduce -55.4%
AMZN Amazon.com Inc.	0.04%	6,929	$1.5M	Reduce -34.0%
MA Mastercard Inc. Class A	0.03%	1,768	$994K	Reduce -20.9%
NVDA Nvidia Corp.	0.03%	6,095	$963K	Reduce -40.8%
JPM JPMorgan Chase & Co.	0.02%	2,319	$672K	Reduce -16.7%
HD Home Depot Inc.	0.01%	1,395	$511K	Reduce -71.9%
PWR Quanta Services Inc.	0.01%	1,328	$502K	Reduce -14.8%
CMG Chipotle Mexican Grill Inc.	0.01%	8,340	$468K	Reduce -34.9%
HUBS HubSpot Inc.	0.01%	794	$442K	Reduce -33.0%
FAST Fastenal Co.	0.01%	9,874	$415K	Reduce -14.4%
ORCL Oracle Corp.	0.01%	1,850	$404K	Reduce -53.8%
FISV Fiserv Inc.	0.01%	2,327	$401K	Reduce -29.2%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC	0.01%	4,064	$392K	Reduce -64.0%
ECL Ecolab Inc.	0.01%	1,424	$384K	Reduce -64.6%
PODD Insulet Corp.	0.01%	1,156	$363K	Reduce -39.1%
ADP Automatic Data Processing	0.01%	1,143	$353K	Reduce -75.0%
SBUX Starbucks Corp.	0.01%	3,404	$312K	Reduce -13.7%
ADBE Adobe Inc.	0.01%	793	$307K	Reduce -26.6%
DRI Darden Restaurants Inc.	0.01%	1,391	$303K	Reduce -7.6%
ADSK Autodesk Inc.	0.01%	926	$287K	Reduce -35.4%
WEC WEC Energy Group Inc.	0.01%	2,582	$269K	Reduce -69.2%
MTB M & T Bank Corp. filed as M & T BK CORP	0.01%	1,308	$254K	Reduce -7.9%
PAYX Paychex Inc.	0.01%	1,735	$252K	Reduce -14.5%
PEP Pepsico Inc.	0.01%	1,840	$243K	Reduce -66.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.01%	1,922	$237K	Reduce -7.2%
CRM Salesforce Inc.	0.01%	857	$234K	Reduce -31.4%
MCD McDonald's Corp.	0.01%	787	$230K	Reduce -77.1%
SYY Sysco Corp.	0.01%	3,027	$229K	Reduce -63.6%
PG The Procter & Gamble Co.	0.01%	1,370	$218K	Reduce -71.4%
HRB H&R Block Inc. filed as BLOCK H & R INC	0.01%	3,915	$215K	Reduce -6.5%
SNA Snap-on Inc.	0.01%	671	$209K	Reduce -9.6%
TXN Texas Instruments Inc.	0.01%	982	$204K	New
APD Air Products & Chemicals Inc.	0.01%	722	$204K	Reduce -10.2%

Portfolio Sells Q1 2025 → Q2 2025


ENFN Enfusion Inc. Class A	Sold out	0.00%	−1.73
HLIO Helios Technologies Inc.	Sold out	0.00%	−1.14
VICR Vicor Corp.	Sold out	0.00%	−1.04
TECH Bio-Techne Corp.	Reduce -5.7%	2.35%	−0.59
VCEL Vericel Corp.	Reduce -2.4%	3.48%	−0.40
TYL Tyler Technologies Inc.	Reduce -6.7%	4.13%	−0.37
ERII Energy Recovery Inc.	Reduce -4.5%	0.92%	−0.32
ANSS Ansys Inc.	Reduce -15.8%	2.90%	−0.32
KIDS Orthopediatrics Corp.	Reduce -6.8%	0.97%	−0.27
ALRM Alarm.com Holdings Inc.	Reduce -5.2%	2.80%	−0.21
ICLR Icon PLC	Reduce -1.4%	0.76%	−0.20
CTKB Cytek Biosciences Inc.	Reduce -4.7%	0.70%	−0.20
APPF Appfolio Inc. Class A	Reduce -5.4%	3.88%	−0.18
NCNO Ncino Inc.	Reduce -5.5%	1.68%	−0.13
PAYC Paycom Software Inc.	Reduce -5.9%	3.19%	−0.13
GKOS Glaukos Corp.	Reduce -4.5%	3.42%	−0.12
PRO Pros Holdings Inc.	Reduce -14.9%	0.24%	−0.12
TSCO Tractor Supply Company	Sold out	0.00%	−0.07
GWW WW Grainger Inc.	Sold out	0.00%	−0.07
TEAM Atlassian Corp. Class A	Reduce -1.6%	0.64%	−0.06
CGNX Cognex Corp.	Reduce -5.3%	2.09%	−0.06
MSFT Microsoft Corp.	Reduce -58.6%	0.06%	−0.05
TNDM Tandem Diabetes Care Inc.	Reduce -6.7%	0.30%	−0.04
HD Home Depot Inc.	Reduce -71.9%	0.01%	−0.04
META Meta Platforms Inc. Class A	Reduce -55.4%	0.05%	−0.04
ABBV Abbvie Inc.	Sold out	0.00%	−0.04
CHKP Check Point Software Tech	Reduce -1.6%	0.43%	−0.04
DKS Dick's Sporting Goods Inc.	Sold out	0.00%	−0.03
SPSC SPS Commerce Inc.	Reduce -2.1%	1.03%	−0.03
ADP Automatic Data Processing	Reduce -75.0%	0.01%	−0.03
MCD McDonald's Corp.	Reduce -77.1%	0.01%	−0.03
ITW Illinois Tool Works	Sold out	0.00%	−0.02
AAPL Apple Inc.	Reduce -17.1%	0.07%	−0.02
ABT Abbott Laboratories	Sold out	0.00%	−0.02
TROW T Rowe Price Group Inc.	Reduce -64.0%	0.01%	−0.02
WEC WEC Energy Group Inc.	Reduce -69.2%	0.01%	−0.02
ECL Ecolab Inc.	Reduce -64.6%	0.01%	−0.02
UPS United Parcel Service Class B	Sold out	0.00%	−0.02
PG The Procter & Gamble Co.	Reduce -71.4%	0.01%	−0.02
PEP Pepsico Inc.	Reduce -66.5%	0.01%	−0.02
AMZN Amazon.com Inc.	Reduce -34.0%	0.04%	−0.02
JNJ Johnson & Johnson	Sold out	0.00%	−0.01
SYY Sysco Corp.	Reduce -63.6%	0.01%	−0.01
YORW York Water Co.	Sold out	0.00%	−0.01
GOOGL Alphabet Inc. Class A	Reduce -23.1%	0.06%	−0.01
FICO Fair Isaac Corp.	Sold out	0.00%	−0.01
FISV Fiserv Inc.	Reduce -29.2%	0.01%	−0.01
TGT Target Corp.	Sold out	0.00%	−0.01
BR Broadridge Financial Solutio	Sold out	0.00%	−0.01
SCHW Schwab (charles) Corp.	Sold out	0.00%	−0.01

Portfolio Buys Q1 2025 → Q2 2025


CAMT Camtek Ltd.	Add +3.5%	2.80%	+0.86
VERX Vertex Inc. Class A	Add +114.8%	1.47%	+0.77
AGYS Agilysys Inc.	Add +0.3%	2.15%	+0.74
CWAN Clearwater Analytics HDS-A	Add +54.4%	2.04%	+0.37
BMI Badger Meter Inc.	Add +15.8%	1.17%	+0.36
RGEN Repligen Corp.	Add +16.4%	3.64%	+0.32
UFPT Ufp Technologies Inc.	Add +11.4%	1.21%	+0.28
RDVT Red Violet Inc.	Add +31.3%	0.67%	+0.27
DUOL Duolingo	Add +4.0%	0.94%	+0.23
TXN Texas Instruments Inc.	New	0.01%	+0.01
GLBE Global-E Online Ltd.	Add +1.6%	2.12%	−0.18
WK Workiva Inc.	Add +0.9%	1.40%	−0.19
RXST Rxsight Inc.	Add +18.1%	0.42%	−0.30
INSP Inspire Medical Systems Inc.	Add +4.3%	1.39%	−0.30

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