WMC Japan Equity Fund

Overview

The Brown Advisory WMC Japan Equity Fund seeks to achieve total return by investing principally in equity securities of companies which are domiciled in or exercise the predominant part of their economic activity in Japan. The Fund is managed by Wellington Management who oversees the investment decision making process. 

The manager believes in leveraging the structural investment opportunities presented by Japanese companies with strong balance sheets, attractive valuation, and value realization potential through proactive engagement with portfolio company management teams and boards. By employing a valuation- focused investment process the Fund is designed to offer an attractive balance between upside potential and downside risk. The Fund is unconstrained and non-benchmark-oriented, with a bias towards mid to small-cap companies and high active share and an emphasis on diversified alpha sources with downside mitigation.

Portfolio Diversification

(As of Dec 31, 2025)

Sector Fund Benchmark
Communication Services 4.8 7.1
Consumer Discretionary 16.1 16.6
Consumer Staples 2.7 5.5
Industrials 17.1 26.5
Financials 16.7 16.0
Materials 16.9 5.1
Information Technology 9.5 12.9
Health Care 12.3 5.9
Real Estate 3.9 2.1
Pooled Vehicle — —
Energy — 1.0
Utilities — 1.4
Source: Wellington Management. Portfolio diversification excludes cash and equivalents. Sectors are based on the Global Industry Classification Standard (GICS®) classification system. Numbers may not total due to rounding.

Characteristics

(As of Dec 31, 2025)

Portfolio Attribute Fund Benchmark
Fund Assets ($MM) $497M --
Number of Holdings 78 1,664
Weighted Avg Market Cap 35.7 63.1
Forward P/E: 13.1 15.0
Return on Equity 13.7 12.0
Price/Book(x) 1.7 1.6
Source: Wellington Management. Portfolio statistics were calculated using WMC’s internal systems, which use the BARRA factor model for certain data. For projected risk statistics, certain assumptions were made within the BARRA factor model with respect to model type, benchmark, security classification and risk assignment, and timing to calculate results. Differing assumptions can cause projected risk statistics to vary and may cause the figures to deviate significantly from those obtained with another risk model. Characteristics exclude cash and equivalents and are calculated gross of fees unless noted otherwise.

Mutual fund investing involves risk. Principal loss is possible. Past performance is no guarantee of future results.

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing.Click here for a current prospectus and click here for a current SAI. Please read and consider it carefully before investing. You may obtain a hardcopy of the prospectus by calling 1-800-540-6807.

Click here for index and financial term definitions.

Diversification does not assure a profit, nor does it protect against a loss in a declining market.

The WMC Japan Equity Fund launched on 09/30/2024 . Inception date for Institutional and Investor share classes. A fund’s performance for very short time periods may not be indicative of future results. Fund holdings and/or sector allocations are subject to change at any time. The information provided is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. Performance figures and charts include the reinvestment of dividend and capital gain distributions. Returns would have been lower during the specified periods if the payment of certain fees by the Fund had not been waived or expenses reimbursed. 

Investments focused in a single geographic region may be exposed to greater risk than investments diversified among various geographies. Investments in currencies, currency futures contracts, forward currency exchange contracts or similar instruments, as well as securities that are denominated in foreign currency, are subject to the risk that the value of a particular currency will change in relation to one or more other currencies. In addition, the Fund may engage in currency hedging transactions. Currency hedging transactions are subject to the risk that a result opposite expectations occurs (an expected decline turns into a rise and conversely) resulting in a loss to the Fund. Investments in foreign securities entail certain risks not associated with investments in domestic securities, such as volatility of currency exchange rates, and in some cases, political and economic instability and relatively illiquid markets. These risks are greater in emerging markets. Investments in smaller and medium capitalization companies generally carry greater risk than is customarily associated with larger companies for various reasons such as narrower markets, limited financial resources and less liquid stock. Because a significant portion of the assets of the Fund are invested in Japanese securities, the Fund’s performance is expected to be closely tied to the political, social and economic conditions within Japan. The Japanese economy has at times in the past been negatively affected by government intervention and protectionism, a deflationary macroeconomic environment, a heavy reliance on international trade and natural disasters. These factors, as well as an aging population, increases in government debt and changes to fiscal, monetary, or trade policies, may affect Japanese markets and the Fund’s performance. As such, the Fund’s performance may be more volatile than the performance of funds that are more geographically diverse. The Fund may invest in ETFs, which may trade at a discount to the aggregate value of the underlying securities and although expense ratios for ETFs are generally low, frequent trading of ETFs by the Fund can generate brokerage expenses. ETFs may trade at a discount to the aggregate value of the underlying securities and although expense ratios for ETFs are generally low, frequent trading of ETFs by the Fund can generate brokerage expenses. Shareholders of the Fund will indirectly be subject to the fees and expenses of the individual ETFs in which the Fund invests. The value of investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. Investors will indirectly bear the principal risks and its share of the fees and expenses of the Fund’s investment in other Investment Companies.

1 Fund net assets provided by U.S. Bank and are as of the last day of the quarter and include all share classes.

GICS® is a registered trademark of MSCI and Standard & Poor’s Financial Services LLC.​

The Brown Advisory Funds are distributed by ALPS Distributors, Inc. 1290 Broadway, Suite 1100, Denver, CO 80203. which is not affiliated with Brown Advisory LLC.
Share Class Three Months One Year Three Year Five Year Ten Year Since Inception

No Results Found.

Top 10 Portfolio Holdings

(As of Dec 31, 2025)

Name Percentage
Shin-Etsu Chemical Co Ltd 3.3
KDDI Corp 3.1
Sony Group Corp 2.9
Otsuka Holdings Co Ltd 2.8
Dai-ichi Life Holdings Inc 2.7
Shionogi & Co Ltd 2.6
Daiichi Sankyo Co Ltd 2.5
Sumitomo Mitsui Trust Group Inc 2.5
Isuzu Motors Ltd 2.5
Mitsubishi UFJ Financial Group Inc 2.3
Total 27.1
Source: Wellington Management. Portfolio holdings include cash and equivalents, which was 0.6% as of 12/31/2025, and are subject to change at any time. The information provided in this material is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. Numbers may not total due to rounding.

Mutual fund investing involves risk. Principal loss is possible. Past performance is no guarantee of future results.

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing.Click here for a current prospectus and click here for a current SAI. Please read and consider it carefully before investing. You may obtain a hardcopy of the prospectus by calling 1-800-540-6807.

Click here for index and financial term definitions.

Diversification does not assure a profit, nor does it protect against a loss in a declining market.

The WMC Japan Equity Fund launched on 09/30/2024 . Inception date for Institutional and Investor share classes. A fund’s performance for very short time periods may not be indicative of future results. Fund holdings and/or sector allocations are subject to change at any time. The information provided is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. Performance figures and charts include the reinvestment of dividend and capital gain distributions. Returns would have been lower during the specified periods if the payment of certain fees by the Fund had not been waived or expenses reimbursed. 

Investments focused in a single geographic region may be exposed to greater risk than investments diversified among various geographies. Investments in currencies, currency futures contracts, forward currency exchange contracts or similar instruments, as well as securities that are denominated in foreign currency, are subject to the risk that the value of a particular currency will change in relation to one or more other currencies. In addition, the Fund may engage in currency hedging transactions. Currency hedging transactions are subject to the risk that a result opposite expectations occurs (an expected decline turns into a rise and conversely) resulting in a loss to the Fund. Investments in foreign securities entail certain risks not associated with investments in domestic securities, such as volatility of currency exchange rates, and in some cases, political and economic instability and relatively illiquid markets. These risks are greater in emerging markets. Investments in smaller and medium capitalization companies generally carry greater risk than is customarily associated with larger companies for various reasons such as narrower markets, limited financial resources and less liquid stock. Because a significant portion of the assets of the Fund are invested in Japanese securities, the Fund’s performance is expected to be closely tied to the political, social and economic conditions within Japan. The Japanese economy has at times in the past been negatively affected by government intervention and protectionism, a deflationary macroeconomic environment, a heavy reliance on international trade and natural disasters. These factors, as well as an aging population, increases in government debt and changes to fiscal, monetary, or trade policies, may affect Japanese markets and the Fund’s performance. As such, the Fund’s performance may be more volatile than the performance of funds that are more geographically diverse. The Fund may invest in ETFs, which may trade at a discount to the aggregate value of the underlying securities and although expense ratios for ETFs are generally low, frequent trading of ETFs by the Fund can generate brokerage expenses. ETFs may trade at a discount to the aggregate value of the underlying securities and although expense ratios for ETFs are generally low, frequent trading of ETFs by the Fund can generate brokerage expenses. Shareholders of the Fund will indirectly be subject to the fees and expenses of the individual ETFs in which the Fund invests. The value of investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. Investors will indirectly bear the principal risks and its share of the fees and expenses of the Fund’s investment in other Investment Companies.

1 Fund net assets provided by U.S. Bank and are as of the last day of the quarter and include all share classes.

GICS® is a registered trademark of MSCI and Standard & Poor’s Financial Services LLC.​

The Brown Advisory Funds are distributed by ALPS Distributors, Inc. 1290 Broadway, Suite 1100, Denver, CO 80203. which is not affiliated with Brown Advisory LLC.