Brown Advisory Equity Income Fund

Fund Holdings

Asset Allocation

% Long % Net
Cash 3.67 3.67
Stocks 79.87 79.87
Bonds 0.0 0.0
Other 0.0 0.0
Foreign Bonds 0.0 0.0
Foreign Stocks 12.95 12.95
Convertible 0.0 0.0
Preferred 3.51 3.51

Updated 03.31.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 03.31.2014

Ticker YTD Return % % Net Assets
Altria Group Inc. MO 11.46 3.82
Kinder Morgan, Inc. KMI 2.44 3.66
Microsoft Corporation MSFT 13.42 3.64
Novartis AG ADR NVS 17.18 3.16
Automatic Data Processing ADP 0.66 3.11
VF Corporation VFC 2.49 3.02
Unilever NV ADR UN 10.98 2.6
Plum Creek Timber Co Inc PCL -1.33 2.53
United Technologies Corp UTX 2.91 2.53
Johnson & Johnson JNJ 17.08 2.51