<div id="readability-page-1">Brown Advisory, an investment management company, released its “Brown Advisory Mid-Cap Growth Strategy” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The strategy underperformed its benchmark, the Russell Midcap® Growth Index, in the third quarter of 2025, which increased approximately 3%. In addition, please check the fund’s top five holdings […]</div>

ALNY

<p>Brown Advisory's Mid-Cap Growth Strategy underperformed the Russell Midcap® Growth Index in Q3 2025, which rose by 3%. Alnylam Pharmaceuticals (ALNY) surged during this period, as highlighted in the investor letter. The letter provides insights into the fund's top holdings and performance.</p>

Here’s why Alnylam Pharmaceuticals (ALNY) surged in Q3