FORM 13F COVER PAGE
Report for the Quarter Ended: September 30, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
Name: Brown Capital Management, Inc.
Address: 809 Cathedral Street
Baltimore, MD 21201
13F File Number:
The institutional investment manager filing this
report and the person by whom it is signed hereby
represent that the person signing the report is
authorized to submit it, that all information
contained herein is true, correct and complete,
and that it is understood that all required items,
statements, schedules, lists, and tables, are
considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Eddie C. Brown
Title: President
Phone: 410-837-3234
Signature, Place, and Date of Signing:
Eddie C. Brown Baltimore, MD
Report Type (Check only one):
[X ] 13F HOLDINGS REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: NA
Form 13F information Table Entry Total: 167
Form 13F Information Table Value Total: $4231511
List of Other Included Managers: NA
No. 13F File Number Name
<TABLE>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING
AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN
MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
<C>
ADC Telecommunications com 000886101 69509 1657450.00SH SOLE
685900.00 971550.00
AFLAC, Inc. com 001055102 95547 2281709.00SH SOLE
930423.00112800.001238486.00
Ace Limited com 2008853 796 47000.00 SH SOLE 47000.00
47000.00
Acxiom Corporation com 005125109 14178 721300.00SH SOLE
641800.00 79500.00
Acxiom Corporation com 005125109 60708 3088491.00SH SOLE
1240586.00155500.001692405.00
Advent Software com 007974108 33382 536250.00SH SOLE 499200.00
37050.00
Advent Software Inc. com 007974108 7847 126050.00SH SOLE
126050.00
Affymetrix Inc. com 00826T108 20475 208000.00SH SOLE 187300.00
20700.00
Albany Molecular Research com 012423109 6874 273600.00SH SOLE
256400.00 17200.00
Altera Corporation com 021441100 37388 861975.00SH SOLE 284550.00
577425.00
Alza com 022615108 16778 391900.00SH SOLE 352100.00
39800.00
Alza com 022615108 9481 221464.00SH SOLE 115784.00
105680.00
American Software A com 029683109 6839 2378700.00SH SOLE
2110200.00 268500.00
American Tel & Tel com 001957109 58370 1341841.00SH SOLE 616293.00
725548.00
Ameritech com 030954101 861 12900.00 SH SOLE
12900.00
Applied Analytical Inds. Inc. com 037939105 14715 1308000.00SH SOLE
1243500.00 64500.00
Applied Digital Access, Inc. com 038181103 3414 658100.00SH SOLE
638800.00 19300.00
Autozone Inc. com 053332102 1514 53950.00 SH SOLE 53100.00
850.00
BMC Software com 055921100 26778 374184.00SH SOLE 349304.00
24880.00
BMC Software com 055921100 122186 1707399.00SH SOLE 668600.00
79400.00959399.00
BP Amoco com 055622104 1404 12669.00 SH SOLE
12669.00
Bank of America Corp com 060505104 56140 1008132.00SH SOLE
431550.00 70800.00505782.00
Best Software Inc. com 086579109 21551 1091200.00SH SOLE 1013300.00
77900.00
Bioreliance Corp. com 090951104 6691 1070600.00SH SOLE 993900.00
76700.00
Bisys com 055472104 19126 407760.00SH SOLE 372760.00
35000.00
Boston Scientific Corp com 101137107 5725 231300.00SH SOLE 1000.00
87600.00142700.00
Cardinal Health Inc. com 14149Y108 118962 2182788.75SH SOLE
848944.75110700.001223144.00
Carnival Corp CL A com 143658102 96447 2217175.00SH SOLE 990400.00
1226775.00
Catalina Marketing com 148867104 6929 81700.00 SH SOLE 79100.00
2600.00
Catalina Marketing com 148867104 11205 132110.00SH SOLE 44010.00
88100.00
Cerner com 156782104 8909 584205.00SH SOLE 545605.00
38600.00
Chase Manhattan Bank com 16161A108 65875 873970.00SH SOLE
360624.00 71000.00442346.00
Cheesecake Factory com 163072101 20092 724049.00SH SOLE 642399.00
81650.00
Cheesecake Factory com 163072101 409 14730.00 SH SOLE
14730.00
Chirex, Inc. com 170038103 14907 577500.00SH SOLE 527200.00
50300.00
Cintas Corp. com 172908105 9632 166600.00SH SOLE 39700.00
126900.00
Cisco Systems com 17275R102 2426 35388.00 SH SOLE 2500.00
32888.00
Citigroup, Inc. com 172967101 57601 1309121.00SH SOLE 605225.00
703896.00
Coca-Cola com 191216100 302 6255.00 SH SOLE
6255.00
Cognex Corp com 192422103 15275 506004.00SH SOLE 474004.00
32000.00
Compaq com 204493100 15794 690450.00SH SOLE 333800.00
356650.00
Compuware Corp. com 205638109 15101 579400.00SH SOLE
81100.00120400.00377900.00
Concentrex Inc. com 12525N100 6814 696600.00SH SOLE 645800.00
50800.00
Concord Communications Inc. com 206186108 10013 251900.00SH SOLE
237900.00 14000.00
Covance Inc com 222816100 2798 288800.00SH SOLE 179700.00
109100.00
Dairy Farm Intl com 6252087 12 11000.00 SH SOLE 11000.00
Danaher com 235851102 26585 504580.00SH SOLE 229720.00
274860.00
Datastream Systems, Inc com 238124101 23755 1809900.00SH SOLE
1671100.00 138800.00
Dendrite Intl Inc. com 248239105 31232 661000.00SH SOLE 628700.00
32300.00
Diagnostic Products com 252450101 25386 946800.00SH SOLE 876700.00
70100.00
Dial Corp. com 25247d101 32129 1259975.00SH SOLE 468300.00
791675.00
Disney, Walt com 254687106 293 11263.00 SH SOLE 120.00
11143.00
Dollar General Corp. com 256669102 113834 3686936.53SH SOLE
1460269.91189362.002037304.62
Dollar Tree Stores com 256747106 6861 171800.00SH SOLE
171800.00
EMC Corporation com 268648102 99117 1388678.00SH SOLE 558268.00
74740.00755670.00
Equifax Inc. com 294429105 76372 2715456.00SH SOLE 1133460.00
1581996.00
Exxon com 302290101 660 8680.00 SH SOLE 56.00
8624.00
Fair Issac & Co com 303250104 21145 753500.00SH SOLE 701900.00
51600.00
Fastenal com 311900104 7710 163600.00SH SOLE 147600.00
16000.00
Fastenal com 311900104 71777 1523125.00SH SOLE 617700.00
92000.00813425.00
FiServ com 337738108 58269 1792900.00SH SOLE 688349.00
77600.001026951.00
Flow International Corp com 343468104 15343 1478800.00SH SOLE
1369100.00 109700.00
Franklin Resources Inc. com 354613101 17447 570851.00SH SOLE 103000.00
467851.00
G & K Services CL A com 361268105 8051 198800.00SH SOLE 56000.00
142800.00
GTE Corp. com 362320103 887 11539.00 SH SOLE
11539.00
General Electric com 369604103 97431 821770.00SH SOLE 352000.00
469770.00
General Growth Properties Inc. com 370021107 705 22375.00 SH SOLE
22375.00
Gillette Co com 375766102 37425 1102775.00SH SOLE 483500.00
63100.00556175.00
Guidant Corp. com 401698105 86014 1604000.00SH SOLE 655200.00
89900.00858900.00
Harbinger Corp. com 41145c103 22317 1322500.00SH SOLE 1235500.00
87000.00
Harley-Davidson com 412822108 66642 1331175.00SH SOLE 515200.00
64700.00751275.00
Health Care Properties com 421915109 308 11725.00 SH SOLE
11725.00
Health Management Associates com 421933102 36822 4751211.00SH SOLE
2016175.00 2735036.00
Healthworld Corp. com 42222e103 9748 696300.00SH SOLE 653400.00
42900.00
Home Depot, Inc. com 437076102 62709 913794.00SH SOLE 371100.00
58900.00483794.00
Human Genome Sciences com 444903108 5280 71600.00 SH SOLE
66900.00 4700.00
Hyperion Solutions Corp. com 44914m104 9384 426558.00SH SOLE
395723.00 30835.00
Illinois Tool Works com 452308109 61747 828120.00SH SOLE 322050.00
74300.00431770.00
Incyte Pharm Inc. com 45337C102 5027 217400.00SH SOLE 200700.00
16700.00
Infousa Inc. Cl A com 456818202 5368 795300.00SH SOLE 735100.00
60200.00
Infousa Inc. Cl B com 456818103 6268 911700.00SH SOLE 850300.00
61400.00
Intel Corp. com 458140100 5321 71600.00 SH SOLE 5400.00
49100.00 17100.00
Interim Services Inc. com 45868p100 2107 128700.00SH SOLE 26800.00
101900.00
International Business Machine com 459200101 138659 1145944.00SH SOLE
473550.00 65400.00606994.00
Johnson & Johnson com 478160104 63719 693541.00SH SOLE 291700.00
44400.00357441.00
Keane Inc. com 486665102 5069 222200.00SH SOLE
222200.00
Kendle International Inc. com 48880l107 7925 998400.00SH SOLE 942200.00
56200.00
Kimberly Clark Corp. com 494368103 11120 210809.24SH SOLE 195895.86
14913.38
Kohl's Corp. com 500255104 1389 21000.00 SH SOLE
21000.00
Legg Mason Inc. com 524901105 11770 307200.00SH SOLE 43000.00
264200.00
Lucent Technologies Inc com 549463107 80922 1247358.00SH SOLE
534600.00 70400.00642358.00
MBNA Corp. com 55262L100 988 43331.00 SH SOLE
43331.00
MCI Worldcom Inc com 55268B106 85266 1186310.00SH SOLE
515350.00 70700.00600260.00
Manor Care Inc. com 564055101 42649 2481411.00SH SOLE 1027319.00
1454092.00
Manugistics Group Inc. com 565011103 9458 900800.00SH SOLE 832700.00
68100.00
Mapics, Inc. com 564910107 4581 527300.00SH SOLE 498000.00
29300.00
Medialink Worldwide com 58445p105 9956 948200.00SH SOLE 881579.00
66621.00
Mellon Bank com 585509102 82787 2462065.00SH SOLE
1059700.00136600.001265765.00
Merck & Company com 589331107 87772 1354243.00SH SOLE
599688.00 39500.00715055.00
Microsoft com 594918104 115783 1278484.00SH SOLE 501100.00
87200.00690184.00
Network Associates Inc. com 640938106 3830 200269.00SH SOLE 180208.00
20061.00
Network Associates Inc. com 640938106 71170 3721321.00SH SOLE
1455289.00 2266032.00
Newell Rubbermaid Inc. com 651229106 69192 2422467.00SH SOLE
1066622.00 1355845.00
Nortel Networks com 656569100 4372 85730.00 SH SOLE
85730.00
Omnicare Inc. com 681904108 1011 105077.00SH SOLE 5177.00
99900.00
PE Corp Celera Genomics Grp com 69332s201 741 18400.00 SH SOLE
15200.00 3200.00
PE Corp-PE Biosystems Group com 69332s102 70770 979510.00SH SOLE
405100.00 574410.00
Pall Corp com 696429307 1695 73100.00 SH SOLE
73100.00
Panera Bread Company com 69840w108 11882 1793450.00SH SOLE
1591450.00 202000.00
Parametric Technology Corp com 699173100 7961 589700.00SH SOLE
72200.00 517500.00
Paychex, Inc com 704326107 24342 713317.00SH SOLE
183392.00185850.00344075.00
Paychex, Inc. com 704326107 6917 202702.00SH SOLE 180795.00
21907.00
Pharmacopeia Inc. com 71713B104 10727 986400.00SH SOLE 918900.00
67500.00
Philip Morris Companies Inc. com 718154107 398 11648.00 SH SOLE 161.00
11487.00
Post Properties Inc com 737464107 289 7350.00 SH SOLE
7350.00
Post Properties, Inc. com 737464107 11709 297832.00SH SOLE 294032.00
3800.00
Price, T. Rowe com 741477103 7584 276400.00SH SOLE 266000.00
10400.00
Price, T. Rowe com 741477103 89066 3246153.00SH SOLE
1368528.00163800.001713825.00
Professional Detailing com 74312n107 6331 244100.00SH SOLE 227100.00
17000.00
QRS Corp. com 74726x105 18029 281150.00SH SOLE 249900.00
31250.00
Quintiles Transnational com 748767100 2697 141700.00SH SOLE 129600.00
12100.00
Quintiles Transnational CP com 748767100 2047 107550.00SH SOLE
55450.00 52100.00
Radisys Corp. com 750459109 19527 497500.00SH SOLE 460200.00
37300.00
Robert Half Intl Inc. com 770323103 33335 1403570.00SH SOLE 533250.00
870320.00
Rouse Company com 779273101 672 29215.00 SH SOLE
29215.00
Royal Dutch com 780257705 295 5000.00 SH SOLE
5000.00
SBC Communications com 78387G103 861 16864.00 SH SOLE
16864.00
SLM Holdings com 78442a109 115773 2692385.00SH SOLE
1065700.00140400.001486285.00
SPSS Inc. com 78462K102 16184 832600.00SH SOLE 763600.00
69000.00
Sanmina Corp com 800907107 19692 254500.00SH SOLE 242900.00
11600.00
Sanmina Corp com 800907107 10031 129636.00SH SOLE 51136.00
78500.00
Schlumberger, Ltd. com 806857108 66981 1074925.00SH SOLE 496500.00
578425.00
Smith International, Inc com 832110100 3584 88500.00 SH SOLE 21100.00
67400.00
Solectron Corp. (Del) com 834182107 30657 426907.00SH SOLE 172032.00
48300.00206575.00
St. Jude Medical com 790849103 1625 51600.00 SH SOLE
51600.00
Staples Inc. com 855030102 79463 3642986.00SH SOLE 1604175.00
2038811.00
State Street Corp com 857477103 3567 55200.00 SH SOLE
55200.00
Sterling Commerce com 859205106 32319 1741098.01SH SOLE
781623.00 959475.01
Sterling Software com 859547101 61421 3071050.00SH SOLE
1152950.00180400.001737700.00
Structural Dynamics com 863555108 18674 1242331.00SH SOLE
1148331.00 94000.00
Sylvan Learning Center com 871399101 16029 827300.00SH SOLE
378100.00 449200.00
Synbiotics Corp. com 871566105 875 341500.00SH SOLE 314600.00
26900.00
Synthetech Inc. com 87162E100 5332 1236500.00SH SOLE 1138200.00
98300.00
Techne Corp com 878377100 30898 984800.00SH SOLE 905400.00
79400.00
Tellabs com 879664100 75694 1329425.00SH SOLE 554100.00
87100.00688225.00
The Bisys Group Inc. com 055472104 2922 62300.00 SH SOLE
62300.00
Time Warner com 887315109 416 6840.00 SH SOLE
6840.00
Transaction Systems Architects com 893416107 2748 102000.00SH SOLE
50000.00 52000.00
Tripos Inc. com 896928108 3553 557400.00SH SOLE 493200.00
64200.00
Warner Lambert Co. com 934488107 2164 32600.00 SH SOLE 32600.00
csusaan com 4 87700.00 SH SOLE 87700.00 87700.00
csuspap com 398 67800.00 SH SOLE 67800.00 67800.00
ABB Participation AG - Bearer com 5273001 1152 700.00 SH SOLE 700.00
700.00
Allied Zurich com 0287579 2291 195100.00SH SOLE 195100.00
193500.00
British Airways com 0129057 1137 201800.00SH SOLE 201800.00
200400.00
Esprit Holdings Limited com 6321642 13 14000.00 SH SOLE 14000.00
National Mutual AsiaLtd (AXA C com 6626723 13 19200.00 SH SOLE 19200.00
Cemex SA com 2182939 1492 899400.00SH SOLE 899400.00
891000.00
Goodman Fielder com 6336549 15 16100.00 SH SOLE 16100.00
Stock Performance Index Future if 861991982 20590 130538.3590SH SOLE
130538.3590
BCM International Fund 120 12183.758SH SOLE
12183.758
Nottingham Invest. Tr.-II BCM 66976M409 2757 120033.064SH SOLE
26532.071 93500.993
Addidas-Salomon AG com 4031976 1352 15900.00 SH SOLE 15900.00
15700.00
Akzo Nobel NV com 5458314 1971 46500.00 SH SOLE 46500.00
46000.00
Alcatel com 4216825 1723 12500.00 SH SOLE 12500.00
12400.00
Alstom com 5474978 1788 53500.00 SH SOLE 53500.00
53200.00
BASF AG com 5086577 1572 36900.00 SH SOLE 36900.00
36900.00
</TABLE>
