Brasada Capital Management, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Brasada Capital Management, LP reported 125 stock positions worth $500.5 million. Its top holding was SS SPDR BB 1-3M T-Bill ETF (BIL) at 9.3% of the portfolio, followed by Microsoft (MSFT, 4.7%) and Waste Connections (WCN, 4.2%). Compared with Q4 2024, it opened 21 new positions, sold out of 25, added to 25 and reduced 70. The biggest buy was SS SPDR BB 1-3M T-Bill ETF (BIL, shares +40%) and the biggest sale Danaher (DHR, shares −38%).
- Most Recent 13F
- Q2 2026
- Location
- HOUSTON, TX
- CIK
- 0001643833
- Portfolio Value
- $500.5M (Q1 2025)
- SEC Filing
- 0001420506-25-001235 ↗ filed May 15, 2025
Holdings Value
Holdings 125 stocks · $500.5M
| BIL SS SPDR BB 1-3M T-Bill ETF | 9.28% | 507,612 | $46.5M | Add +40.2% |
| MSFT Microsoft Corp. | 4.72% | 66,562 | $23.6M | Reduce -6.5% |
| WCN Waste Connections Inc. | 4.23% | 115,402 | $21.1M | Reduce -1.7% |
| COST Costco Wholesale Corp. | 3.51% | 19,317 | $17.6M | Reduce -0.6% |
| CPRT Copart Inc. | 2.71% | 248,099 | $13.5M | Reduce -7.8% |
| AMZN Amazon.com Inc. | 2.65% | 77,037 | $13.3M | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 2.54% | 87,553 | $12.7M | Reduce -5.4% |
| CRH CRH PLC | 2.44% | 152,040 | $12.2M | Reduce -3.1% |
| IDXX Idexx Laboratories Inc. | 2.37% | 32,837 | $11.9M | Add +11.2% |
| CP Canadian Pacific Kansas City | 2.37% | 176,452 | $11.8M | Reduce -6.4% |
| WMB Williams Cos Inc. | 2.26% | 207,183 | $11.3M | Reduce -4.7% |
| ANSS Ansys Inc. | 2.20% | 38,677 | $11.0M | Reduce -8.8% |
| HEI.A Heico Corp. Class A | 2.10% | 55,106 | $10.5M | Reduce -1.4% |
| MA Mastercard Inc. Class A | 2.05% | 21,416 | $10.3M | Reduce -2.0% |
| MCO Moody's Corp. | 2.04% | 25,686 | $10.2M | Reduce -3.9% |
| TDG Transdigm Group Inc. | 1.95% | 7,918 | $9.8M | Add +30.8% |
| CMS CMS Energy Corp. | 1.87% | 133,166 | $9.3M | Reduce -2.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.67% | 16,988 | $8.4M | Reduce -1.6% |
| BSX Boston Scientific Corp. | 1.64% | 89,865 | $8.2M | Reduce -5.7% |
| SPGI S&P Global Inc. | 1.55% | 17,322 | $7.8M | Reduce -5.5% |
| DHR Danaher Corp. | 1.42% | 40,808 | $7.1M | Reduce -38.1% |
| CPT Camden Property Trust | 1.28% | 59,963 | $6.4M | Reduce -4.4% |
| SGOV iShares 0-3 Month Treasury B | 1.26% | 62,938 | $6.3M | Add +107.3% |
| SYK Stryker Corp. | 1.17% | 17,419 | $5.9M | Add +1.3% |
| UBER Uber Technologies Inc. | 1.16% | 88,241 | $5.8M | Add +28.5% |
| MSI Motorola Solutions Inc. | 1.15% | 14,551 | $5.7M | Reduce -1.4% |
| NOW ServiceNow Inc. | 1.06% | 7,290 | $5.3M | Add +76.1% |
| VMC Vulcan Materials Co. | 1.03% | 22,858 | $5.2M | Add +7.4% |
| WELL Welltower Inc. | 1.03% | 37,927 | $5.2M | Add +1.1% |
| AMT American Tower Corp. | 0.98% | 23,897 | $4.9M | Reduce -33.0% |
| BR Broadridge Financial Solutio | 0.94% | 21,595 | $4.7M | Reduce -6.7% |
| UNP Union Pacific Corp. | 0.91% | 21,979 | $4.6M | Reduce -54.0% |
| SOLV Solventum Corp. | 0.91% | 70,153 | $4.5M | Reduce -0.1% |
| ECL Ecolab Inc. | 0.89% | 19,734 | $4.5M | New |
| HWM Howmet Aerospace Inc. | 0.87% | 38,035 | $4.4M | Reduce -0.8% |
| TYL Tyler Technologies Inc. | 0.86% | 8,248 | $4.3M | Reduce -1.9% |
| ATR Aptargroup Inc. | 0.85% | 32,019 | $4.3M | Reduce -2.6% |
| GFL GFL Environmental Inc.-Sub VT | 0.82% | 94,813 | $4.1M | Reduce -2.4% |
| NVDA Nvidia Corp. | 0.81% | 41,852 | $4.0M | Reduce -24.7% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.77% | 12,436 | $3.9M | Add +1.3% |
| RTX RTX Corp. | 0.76% | 31,568 | $3.8M | Reduce -0.1% |
| TMO Thermo Fisher Scientific Inc. | 0.76% | 9,053 | $3.8M | New |
| ETN Eaton Corp. PLC | 0.76% | 14,906 | $3.8M | Reduce -9.1% |
| LNG Cheniere Energy Inc. | 0.75% | 18,276 | $3.7M | Reduce -0.4% |
| V Visa Inc. Class A | 0.75% | 12,126 | $3.7M | Reduce -0.7% |
| LYV Live Nation Entertainment Inc. | 0.74% | 31,053 | $3.7M | Reduce -2.9% |
| SH Proshares Short S&P500 | 0.73% | 72,800 | $3.6M | New |
| TOST Toast Inc. Class A | 0.70% | 116,903 | $3.5M | Add +799.3% |
| CLBT Cellebrite Di Ltd. | 0.70% | 197,713 | $3.5M | New |
| UNH Unitedhealth Group Inc. | 0.70% | 6,335 | $3.5M | Add +2.3% |
| MS Morgan Stanley | 0.65% | 32,434 | $3.3M | Reduce -0.5% |
| HLT Hilton Worldwide Holdings Inc. | 0.65% | 16,141 | $3.2M | Reduce -0.9% |
| RMD Resmed Inc. | 0.64% | 15,711 | $3.2M | New |
| JPM JPMorgan Chase & Co. | 0.62% | 14,342 | $3.1M | Add +9.0% |
| INTU Intuit Inc. | 0.60% | 5,564 | $3.0M | Add +1.0% |
| BLDR Builders Firstsource Inc. | 0.55% | 24,053 | $2.7M | Add +2.0% |
| CARR Carrier Global Corp. | 0.54% | 48,363 | $2.7M | Reduce -22.4% |
| MCHP Microchip Technology Inc. | 0.49% | 64,829 | $2.4M | Add +15.5% |
| AAPL Apple Inc. | 0.48% | 13,945 | $2.4M | Reduce -2.7% |
| KMX Carmax Inc. | 0.47% | 32,288 | $2.4M | Reduce -3.6% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.41% | 19,713 | $2.1M | Add +52.3% |
| FTAI Ftai Aviation Ltd. | 0.39% | 21,950 | $2.0M | No change |
| PPL PPL Corp. | 0.38% | 56,156 | $1.9M | Add +8.8% |
| EFX Equifax Inc. | 0.35% | 8,512 | $1.7M | Reduce -1.5% |
| CCC CCC Intelligent Solutions Ho | 0.33% | 197,765 | $1.6M | Reduce -68.8% |
| BKNG Booking Holdings Inc. | 0.31% | 378 | $1.6M | Reduce -4.1% |
| UHAL.B U-Haul Holding Co.-Non Voting | 0.31% | 29,625 | $1.5M | Reduce -3.5% |
| ADP Automatic Data Processing | 0.27% | 4,830 | $1.3M | Reduce -0.4% |
| LAMR Lamar Advertising Co. Class A | 0.24% | 11,872 | $1.2M | Reduce -7.2% |
| GTLS Chart Industries Inc. | 0.23% | 10,000 | $1.2M | Reduce -16.7% |
| BOND PIMCO Active Bond Exchange-T | 0.22% | 12,393 | $1.1M | Add +7.8% |
| GOOG Alphabet Inc. Class C | 0.22% | 7,401 | $1.1M | Reduce -13.9% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.21% | 9,360 | $1.1M | No change |
| AGG iShares Core U.S. Aggregate | 0.21% | 10,605 | $1.0M | Add +6.5% |
| GOVT iShares US Treasury Bond ETF | 0.21% | 45,216 | $1.0M | Add +6.5% |
| TRGP Targa Resources Corp. | 0.20% | 6,300 | $1.0M | Reduce -0.6% |
| MAIN Main Street Capital Corp. | 0.20% | 20,500 | $1.0M | No change |
| VTR Ventas Inc. | 0.20% | 15,498 | $982K | Reduce -21.7% |
| NSC Norfolk Southern Corp. | 0.19% | 4,043 | $958K | Reduce -44.9% |
| DTM DT Midstream Inc. | 0.19% | 10,520 | $933K | Reduce -33.0% |
| HD Home Depot Inc. | 0.18% | 2,500 | $916K | New |
| BLK BlackRock Inc. | 0.18% | 1,108 | $904K | Reduce -1.9% |
| KMI Kinder Morgan Inc. | 0.17% | 30,000 | $856K | Reduce -7.7% |
| PH Parker Hannifin Corp. | 0.17% | 1,400 | $851K | Reduce -6.7% |
| ZTS Zoetis Inc. | 0.17% | 5,800 | $838K | Reduce -3.9% |
| IWR iShares Russell Mid-Cap ETF | 0.17% | 11,148 | $835K | Reduce -2.1% |
| IVW iShares S&P 500 Growth ETF | 0.17% | 9,979 | $828K | Reduce -11.4% |
| CAT Caterpillar Inc. | 0.16% | 2,450 | $808K | New |
| NEE Nextera Energy Inc. | 0.16% | 12,500 | $801K | No change |
| MCD McDonald's Corp. | 0.15% | 2,547 | $764K | Reduce -2.0% |
| BKR Baker Hughes Co. | 0.15% | 17,000 | $747K | New |
| DGRO iShares Core Dividend Growth | 0.15% | 13,341 | $737K | Reduce -3.0% |
| JEPI JPMorgan Equity Premium Inco | 0.15% | 14,388 | $736K | Reduce -12.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.15% | 17,500 | $730K | Reduce -18.6% |
| MUB iShares National Muni Bond E | 0.15% | 7,120 | $729K | Add +17.6% |
| C Citigroup Inc. | 0.14% | 10,000 | $710K | New |
| CET Central Securities Corp. | 0.14% | 17,336 | $706K | New |
| FLS Flowserve Corp. | 0.14% | 14,000 | $684K | Reduce -15.2% |
| WDAY Workday Inc. Class A | 0.14% | 2,918 | $681K | New |
| SCHD Schwab US DVD Equity ETF | 0.13% | 27,552 | $670K | Reduce -3.6% |
Options reported separately and not counted above: NIKE INC calls ($1.3M), SENSATA TECHNOLOGIES HLDG PL calls ($303K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $428K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | 8,500 | $428K | New |
Total filed on the 13F, all lines: $501.0M.
Portfolio Sells Q4 2024 → Q1 2025
| DHR Danaher Corp. | Reduce -38.1% | 1.42% | −1.38 |
| UNP Union Pacific Corp. | Reduce -54.0% | 0.91% | −1.01 |
| DPZ Domino's Pizza Inc. | Sold out | 0.00% | −0.94 |
| CCC CCC Intelligent Solutions Ho | Reduce -68.8% | 0.33% | −0.91 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.76 |
| TTEK Tetra Tech Inc. | Sold out | 0.00% | −0.73 |
| MGRC McGrath Rentcorp | Sold out | 0.00% | −0.64 |
| GOOGL Alphabet Inc. Class A | Reduce -5.4% | 2.54% | −0.60 |
| COP Conocophillips | Sold out | 0.00% | −0.57 |
| MSFT Microsoft Corp. | Reduce -6.5% | 4.72% | −0.56 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −0.55 |
| NVDA Nvidia Corp. | Reduce -24.7% | 0.81% | −0.51 |
| TXN Texas Instruments Inc. | Sold out | 0.00% | −0.42 |
| AMZN Amazon.com Inc. | Reduce -0.2% | 2.65% | −0.35 |
| ANSS Ansys Inc. | Reduce -8.8% | 2.20% | −0.34 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −0.30 |
| WSC Willscot Holdings Corp. | Sold out | 0.00% | −0.29 |
| ETN Eaton Corp. PLC | Reduce -9.1% | 0.76% | −0.23 |
| CARR Carrier Global Corp. | Reduce -22.4% | 0.54% | −0.21 |
| GTLS Chart Industries Inc. | Reduce -16.7% | 0.23% | −0.19 |
| EXR Extra Space Storage Inc. | Sold out | 0.00% | −0.17 |
| USB US Bancorp | Sold out | 0.00% | −0.17 |
| GLW Corning Inc. | Sold out | 0.00% | −0.16 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.16 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.15 |
| AMT American Tower Corp. | Reduce -33.0% | 0.98% | −0.14 |
| MCO Moody's Corp. | Reduce -3.9% | 2.04% | −0.14 |
| GNRC Generac Holdings Inc. | Sold out | 0.00% | −0.12 |
| AAPL Apple Inc. | Reduce -2.7% | 0.48% | −0.12 |
| NSC Norfolk Southern Corp. | Reduce -44.9% | 0.19% | −0.12 |
| CRH CRH PLC | Reduce -3.1% | 2.44% | −0.11 |
| DTM DT Midstream Inc. | Reduce -33.0% | 0.19% | −0.11 |
| AGS Playags Inc. | Sold out | 0.00% | −0.11 |
| CP Canadian Pacific Kansas City | Reduce -6.4% | 2.37% | −0.10 |
| KNTK Kinetik Holdings Inc. | Sold out | 0.00% | −0.10 |
| AMAT Applied Materials Inc. | Sold out | 0.00% | −0.10 |
| MDU Mdu Resources Group Inc. | Reduce -54.6% | 0.08% | −0.10 |
| ECG Everus Construction Group | Sold out | 0.00% | −0.09 |
| PAR Par Technology Corp. | Sold out | 0.00% | −0.09 |
| OII Oceaneering Intl Inc. | Sold out | 0.00% | −0.09 |
| ITRI Itron Inc. | Sold out | 0.00% | −0.08 |
| GOOG Alphabet Inc. Class C | Reduce -13.9% | 0.22% | −0.08 |
| TSEM Tower Semiconductor Ltd. | Sold out | 0.00% | −0.07 |
| WAB Wabtec Corp. | Sold out | 0.00% | −0.07 |
| MS Morgan Stanley | Reduce -0.5% | 0.65% | −0.07 |
| INFA Informatica Inc. Class A | Sold out | 0.00% | −0.06 |
| EPAM Epam Systems Inc. | Reduce -38.8% | 0.04% | −0.06 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -0.9% | 0.65% | −0.05 |
| MSI Motorola Solutions Inc. | Reduce -1.4% | 1.15% | −0.05 |
| ATR Aptargroup Inc. | Reduce -2.6% | 0.85% | −0.04 |
Portfolio Buys Q4 2024 → Q1 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +40.2% | 9.28% | +3.39 |
| ECL Ecolab Inc. | New | 0.89% | +0.89 |
| TMO Thermo Fisher Scientific Inc. | New | 0.76% | +0.76 |
| SH Proshares Short S&P500 | New | 0.73% | +0.73 |
| SGOV iShares 0-3 Month Treasury B | Add +107.3% | 1.26% | +0.72 |
| CLBT Cellebrite Di Ltd. | New | 0.70% | +0.70 |
| RMD Resmed Inc. | New | 0.64% | +0.64 |
| TOST Toast Inc. Class A | Add +799.3% | 0.70% | +0.62 |
| TDG Transdigm Group Inc. | Add +30.8% | 1.95% | +0.57 |
| UBER Uber Technologies Inc. | Add +28.5% | 1.16% | +0.36 |
| NOW ServiceNow Inc. | Add +76.1% | 1.06% | +0.31 |
| WELL Welltower Inc. | Add +1.1% | 1.03% | +0.20 |
| HD Home Depot Inc. | New | 0.18% | +0.18 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +52.3% | 0.41% | +0.17 |
| CAT Caterpillar Inc. | New | 0.16% | +0.16 |
| IDXX Idexx Laboratories Inc. | Add +11.2% | 2.37% | +0.15 |
| AJG Arthur J Gallagher & Co. | Add +1.3% | 0.77% | +0.15 |
| BKR Baker Hughes Co. | New | 0.15% | +0.15 |
| C Citigroup Inc. | New | 0.14% | +0.14 |
| CET Central Securities Corp. | New | 0.14% | +0.14 |
| WDAY Workday Inc. Class A | New | 0.14% | +0.14 |
| RF Regions Financial Corp. | New | 0.12% | +0.12 |
| DE Deere & Co. | New | 0.12% | +0.12 |
| FERG Ferguson Enterprises Inc. | New | 0.12% | +0.12 |
| CTRA Coterra Energy Inc. | New | 0.11% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +2.3% | 0.70% | +0.10 |
| AM Antero Midstream Corp. | New | 0.10% | +0.10 |
| KGS Kodiak Gas Services Inc. | New | 0.09% | +0.09 |
| PPL PPL Corp. | Add +8.8% | 0.38% | +0.09 |
| AXP American Express Co. | New | 0.08% | +0.08 |
| SYK Stryker Corp. | Add +1.3% | 1.17% | +0.07 |
| PAGP Plains GP Holdings LP | New | 0.07% | +0.07 |
| VMC Vulcan Materials Co. | Add +7.4% | 1.03% | +0.07 |
| SARK Tradr 1X Short Innov DLY-Usd | New | 0.07% | +0.07 |
| FCX Freeport-McMoran Inc. | New | 0.06% | +0.06 |
| JPM JPMorgan Chase & Co. | Add +9.0% | 0.62% | +0.05 |
| BOND PIMCO Active Bond Exchange-T | Add +7.8% | 0.22% | +0.04 |
| GOVT iShares US Treasury Bond ETF | Add +6.5% | 0.21% | +0.04 |
| AGG iShares Core U.S. Aggregate | Add +6.5% | 0.21% | +0.04 |
| MUB iShares National Muni Bond E | Add +17.6% | 0.15% | +0.03 |
| JPIB JPMorgan Intl BND ETF | Add +5.9% | 0.09% | +0.02 |
| VUSB Vanguard Ultra Short Bond Et | Add +6.0% | 0.09% | +0.01 |
| INTU Intuit Inc. | Add +1.0% | 0.60% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.4% | 0.09% | −0.01 |
| BLDR Builders Firstsource Inc. | Add +2.0% | 0.55% | −0.07 |
| MCHP Microchip Technology Inc. | Add +15.5% | 0.49% | −0.07 |
Options Activity Q4 2024 → Q1 2025
| STATE STR SPDR S&P 500 ETF T | put | Sold out | 7,500 | $4.4Mbefore exit |
| INVESCO QQQ TR | put | Sold out | 5,000 | $2.6Mbefore exit |
| ISHARES TR | call | Sold out | 10,000 | $2.2Mbefore exit |
| NIKE INC | call | New | 20,000 | $1.3M |
| SENSATA TECHNOLOGIES HLDG PL | call | New | 12,500 | $303K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) | DEP SHS REPSTG | New | 8,500 | $428K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 150 | $553.2M | BIL, GOOGL, CRH, AMZN, WCN |
| Q1 2026 | 141 | $543.3M | BIL, GOOGL, CRH, WCN, IDXX |
| Q4 2025 | 137 | $581.4M | GOOGL, MSFT, BIL, CRH, IDXX |
| Q3 2025 | 141 | $588.1M | MSFT, BIL, GOOGL, WCN, IDXX |
| Q2 2025 | 134 | $582.9M | BIL, MSFT, WCN, COST, IDXX |
| Q1 2025 | 125 | $500.5M | BIL, MSFT, WCN, COST, CPRT |
| Q4 2024 | 129 | $563.1M | BIL, MSFT, WCN, COST, GOOGL |
| Q3 2024 | 137 | $572.7M | MSFT, WCN, DHR, BIL, COST |
| Q2 2024 | 133 | $564.8M | MSFT, BIL, WCN, DHR, GOOGL |
| Q1 2024 | 143 | $556.1M | MSFT, BIL, WCN, CPRT, DHR |