| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 155 SHS/UNITS COSTCO WHOLESALE CORP | 142,022 | 142,022 |
| 221 SHS/UNITS ADOBE INC | 98,274 | 98,274 |
| 1662 SHS/UNITS ALPHABET INC CAP STK CL C | 316,511 | 316,511 |
| 1721 SHS/UNITS ALCON INC COM STK | 146,096 | 146,096 |
| 201 SHS/UNITS HEICO CORP CL A | 37,402 | 37,402 |
| 364223.35 SHS/UNITS BRAEMONT PARTNERS SUB-TRUST BBH | 364,223 | 364,223 |
| 420 SHS/UNITS ARISTA NETWORKS INC COM STK | 46,423 | 46,423 |
| 323 SHS/UNITS APTARGROUP INC COM | 50,743 | 50,743 |
| 3137 SHS/UNITS MISTER CAR WASH INC COM | 22,869 | 22,869 |
| 2002579.41 SHS/UNITS BBH INCOME FUND-1 | 2,002,579 | 2,002,579 |
| 210 SHS/UNITS BRIGHT HORIZONS FAMILY SOLUT COM STK | 23,279 | 23,279 |
| 1029 SHS/UNITS GXO LOGISTICS INCORPORATED COM STK | 44,762 | 44,762 |
| 256 SHS/UNITS TAKE-TWO INTERACTIVE SOFTWARE COM STOCK | 47,124 | 47,124 |
| 1347 SHS/UNITS NIKE INC CL B | 101,927 | 101,927 |
| 1262 SHS/UNITS ORACLE CORP COM | 210,300 | 210,300 |
| 213 SHS/UNITS ICON PLC COM STK | 44,668 | 44,668 |
| 782 SHS/UNITS WILLSCOT MOBILE MINI HOLDINGS CO COM CL A | 26,158 | 26,158 |
| 97 SHS/UNITS WEST PHARMACEUTICAL SVCS INC | 31,773 | 31,773 |
| 124 SHS/UNITS WATSCO INC COM STK | 58,762 | 58,762 |
| 468 SHS/UNITS CBRE GROUP INC CL A | 61,444 | 61,444 |
| 106 SHS/UNITS CADENCE DESIGN SYS INC | 31,849 | 31,849 |
| 243 SHS/UNITS AUTOMATIC DATA PROCESSING INC | 71,133 | 71,133 |
| 337 SHS/UNITS TORO CO COM STK | 26,994 | 26,994 |
| 305 SHS/UNITS APPLIED MATERIALS INC | 49,602 | 49,602 |
| 164 SHS/UNITS LPL FINANCIAL HOLDINGS INC COM STK | 53,548 | 53,548 |
| 271 SHS/UNITS GLOBANT SA COM STK | 58,107 | 58,107 |
| 117 SHS/UNITS UNITEDHEALTH GROUP INC | 59,186 | 59,186 |
| 160 SHS/UNITS VULCAN MATERIALS CO | 41,157 | 41,157 |
| 1182 SHS/UNITS ABBOTT LABORATORIES | 133,696 | 133,696 |
| 452 SHS/UNITS OTIS WORLDWIDE CORPORATION COM | 41,860 | 41,860 |
| 356 SHS/UNITS ADVANCED DRAINAGE SYSTEM INC COM STK | 41,154 | 41,154 |
| 246 SHS/UNITS KLA-TENCOR CORP | 155,010 | 155,010 |
| 326 SHS/UNITS S&P GLOBAL INC COM STK | 162,358 | 162,358 |
| 561 SHS/UNITS LINDE PLC COM STK | 234,874 | 234,874 |
| 277 SHS/UNITS THERMO FISHER SCIENTIFIC INC | 144,104 | 144,104 |
| 609 SHS/UNITS ARTHUR J GALLAGHER & CO | 172,865 | 172,865 |
| 626 SHS/UNITS MICROSOFT CORP | 263,859 | 263,859 |
| 356 SHS/UNITS BERKSHIRE HATHAWAY INC DEL CL B NEW | 161,368 | 161,368 |
| 559 SHS/UNITS BROWN & BROWN INC | 57,029 | 57,029 |
| 769 SHS/UNITS AMAZON.COM INC | 168,710 | 168,710 |
| 860 SHS/UNITS ZOETIS INC COM | 140,120 | 140,120 |
| 394 SHS/UNITS PROGRESSIVE CORP OHIO | 94,406 | 94,406 |
| 140 SHS/UNITS ZEBRA TECHNOLOGIES CORP COM | 54,071 | 54,071 |
| 77 SHS/UNITS ASPEN TECHNOLOGY, INC. COM STK | 19,222 | 19,222 |
| 846 SHS/UNITS WASTE MANAGEMENT INC | 170,714 | 170,714 |
| 1354 SHS/UNITS GFL ENVIRONMENTAL COM STK | 60,307 | 60,307 |
| 981801.19 SHS/UNITS BBH US GOV MONEY MARKET FUND | 981,801 | 981,801 |
| 1182 SHS/UNITS DARLING INGREDIENTS INC COM | 39,822 | 39,822 |
| 540 SHS/UNITS WYNDHAM HOTELS & RESORTS INC COM STK | 54,427 | 54,427 |
| 911006.04 SHS/UNITS BBH LIMITED DURATION FUND CLASS I | 911,006 | 911,006 |
| 21 SHS/UNITS BOOKING HOLDINGS INC COM STK | 104,337 | 104,337 |
| 2 SHS/UNITS NVR INC COM STK | 16,358 | 16,358 |
| 596 SHS/UNITS SHIFT4PAYMENTS INC CL A | 61,853 | 61,853 |
| 326 SHS/UNITS CROWN HOLDINGS INC COM | 26,957 | 26,957 |
| 826 SHS/UNITS BRUKER CORP COM STK | 48,420 | 48,420 |
| 514 SHS/UNITS ENTEGRIS INC COM STK | 50,917 | 50,917 |
| 376 SHS/UNITS GUIDEWIRE SOFTWARE INC COM STK | 63,386 | 63,386 |
| 455 SHS/UNITS MASTERCARD INCORPORATED | 239,589 | 239,589 |
| 512 SHS/UNITS TEXAS INSTRUMENTS | 96,005 | 96,005 |
| 204287.739 SHS/UNITS BBH PARTNER FUND - INTERNATIONAL EQUITY | 3,383,005 | 3,383,005 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| 1246545.58 SHS/UNITS GQG PART EMERG MKTS EQ-INST | FMV | 1,246,546 | 1,246,546 |
| 1936734.54 SHS/UNITS ALTAROCK PARTNERS SERIES | FMV | 1,936,735 | 1,936,735 |
| 692992.35 SHS/UNITS MARTELLO RE SERIES - BBH | FMV | 692,992 | 692,992 |
| 942279.86 SHS/UNITS MAKAIRA BBH WS | FMV | 942,280 | 942,280 |
| 153455.07 SHS/UNITS BBH REAL ESTATE ENHANCED VALUE FUND I, LP | FMV | 153,455 | 153,455 |
| 2209356.24 SHS/UNITS VALLEY FORGE LARGE CAP EQUITY | FMV | 2,209,356 | 2,209,356 |
| 535837.29 SHS/UNITS SELECT EQUITY BBH WS | FMV | 535,836 | 535,836 |
| 1651502.44 SHS/UNITS BOWIE GLOBAL EQUITY SERIES - BBH WS | FMV | 1,651,502 | 1,651,502 |
| 1150950.36 SHS/UNITS TRINITY STREET INTERNATIONAL PARTNERS SERIES - BBH WS | FMV | 1,150,950 | 1,150,950 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| BBH INVESTMENT ACCRUED INCOME/LOSS | 4,533 | 2,213 | 2,213 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OTHER EXPENSE | 0 | 0 | 0 | |
| UNREALIZED GAIN/LOSS | 0 | 0 | 0 | |
| BBH WEALTH STRATEGIES LLC - GQG K-1 | 953 | 953 | 0 | |
| BBH WEALTH STRATEGIES LLC - TRINITY STREET INTERNATIONAL K-1 | 868 | 868 | 0 | |
| BBH WEALTH STRATEGIES LLC - BOWIE K-1 | 776 | 776 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| BBH WEALTH STRATEGIES LLC - MAKAIRA PARTNERS SERIES K-1 | 15 | 15 | 15 |
| BBH WEALTH STRATEGIES LLC - SELECT EQUITY SERIES K-1 | 104 | 104 | 104 |
| Description | Amount |
|---|---|
| UNREALIZED GAIN/(LOSS) ADJUSTMENT | 1,114,627 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BBH INVESTMENTS FEES | 57,694 | 57,694 | 0 | |
| BBH WEALTH STRATEGIES LLC - ALTAROCK PARTNERS SERIES K-1 | 17,042 | 17,042 | 0 | |
| BBH WEALTH STRATEGIES LLC - BARES MID-LARGE CAP SERIES K-1 | 2,633 | 2,633 | 0 | |
| BBH WEALTH STRATEGIES LLC - GQG RE SERIES K-1 | 10,762 | 10,762 | 0 | |
| BBH WEALTH STRATEGIES LLC - MAKAIRA PARTNERS SERIES K-1 | 5,443 | 5,443 | 0 | |
| BBH WEALTH STRATEGIES LLC - MARTELLO RE SERIES K-1 | 2,136 | 2,136 | 0 | |
| BBH WEALTH STRATEGEIE LLC - REAL ESTATE ENHANCED VALUE FUND I, L.P. K-1 | 243 | 243 | 0 | |
| BBH WEALTH STRATEGIES LLC - TRINITY STREET INTERNATIONAL K-1 | 9,207 | 9,207 | 0 | |
| BBH WEALTH STRATEGIES LLC - VALLEY FORGE LARGE CAP EQUITY SERIES K-1 | 18,814 | 18,814 | 0 | |
| BBH WEALTH STRATEGIES LLC - BOWIE GLOBAL EQUITY SERIES K-1 | 9,438 | 9,438 | 0 | |
| BBH WEALTH STRATEGIES LLC - SELECT EQUITY SERIES K-1 | 4,378 | 4,378 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BBH INVESTMENTS FOREIGN TAX | 6,750 | 6,750 | 0 | |
| BBH WEALTH STRATEGIES LLC - ALTAROCK PARTNERS SERIES K-1 | 13 | 13 | 0 | |
| BBH WEALTH STRATEGIES LLC - BOWIE GLOBAL EQUITY SERIES K-1 | 359 | 359 | 0 | |
| BBH WEALTH STRATEGIES LLC - GQG PARTNERS SERIES K-1 | 11,002 | 11,002 | 0 | |
| BBH WEALTH STRATEGIES LLC - MAKAIRA PARTNERS SERIES K-1 | 21 | 21 | 0 | |
| BBH WEALTH STRATEGIES LLC - SELECT EQUITY SERIES K-1 | 1,431 | 1,431 | 0 | |
| BBH WEALTH STRATEGIES LLC - TRINITY STREET INTERNATIONAL PARTNERS SERIES K-1 | 5,049 | 5,049 | 0 | |
| BBH WEALTH STRATEGIES LLC - VALLEY FORGE PARTNERS SERIES K-1 | 37 | 37 | 0 |