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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Repligen Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>First American Treasury Obligations Fund</name>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Xometry, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Workiva, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ENERGY RECOVERY INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Agilysys, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Inspire Medical Systems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UFP Technologies Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Rxsight</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Vertex Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Duolingo Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Badger Meter, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Transmedics Group Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Mama's Creations Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Intapp Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Loar Holdings Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>PDF SOLUTIONS INC</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Xpel Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ALLION HEALTHCAR</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Credo Technology Group Holding</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Sitime Corp</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>American Superconductor Corp</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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        <title>Warby Parker Inc-Class A</title>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Default</name>
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          <isin value="US3493811034"/>
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        <fairValLevel>1</fairValLevel>
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    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-21</ncom:dateSigned>
      <ncom:nameOfApplicant>Brown Capital Management Mutual Funds</ncom:nameOfApplicant>
      <ncom:signature>Michael Forster</ncom:signature>
      <ncom:signerName>Michael Forster</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
