Brasada Capital Management, LP

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Brasada Capital Management, LP reported 134 stock positions worth $582.9 million. Its top holding was SS SPDR BB 1-3M T-Bill ETF (BIL) at 6.9% of the portfolio, followed by Microsoft (MSFT, 5.5%) and Waste Connections (WCN, 3.5%). Compared with Q1 2025, it opened 24 new positions, sold out of 15, added to 37 and reduced 51. The biggest buy was a new position in West Pharmaceutical Services (WST) and the biggest sale SS SPDR BB 1-3M T-Bill ETF (BIL, shares −14%).

Most Recent 13F
Q2 2026
Location
HOUSTON, TX
CIK
0001643833
Portfolio Value
$582.9M (Q2 2025)
SEC Filing
0001420506-25-002057 ↗ filed Aug 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $556.1M Q1 2024 Q2 2024: $564.8M Q2 2024 Q3 2024: $572.7M Q3 2024 Q4 2024: $563.1M Q4 2024 Q1 2025: $500.5M Q1 2025 Q2 2025: $582.9M $582.9M Q2 2025 Q3 2025: $588.1M Q3 2025 Q4 2025: $581.4M Q4 2025 Q1 2026: $543.3M Q1 2026 Q2 2026: $553.2M Q2 2026

Holdings 134 stocks · $582.9M
BIL SS SPDR BB 1-3M T-Bill ETF 6.87% 437,702 $40.0M Reduce -13.8%
MSFT Microsoft Corp. 5.49% 64,209 $32.0M Reduce -3.5%
WCN Waste Connections Inc. 3.50% 112,990 $20.4M Reduce -2.1%
COST Costco Wholesale Corp. 3.03% 17,922 $17.7M Reduce -7.2%
IDXX Idexx Laboratories Inc. 3.02% 32,179 $17.6M Reduce -2.0%
AMZN Amazon.com Inc. 2.94% 76,770 $17.1M Reduce -0.3%
CP Canadian Pacific Kansas City 2.56% 183,819 $14.9M Add +4.2%
GOOGL Alphabet Inc. Class A 2.49% 80,978 $14.5M Reduce -7.5%
CRH CRH PLC 2.49% 152,670 $14.5M Add +0.4%
HEI.A Heico Corp. Class A 2.38% 54,720 $13.9M Reduce -0.7%
MCO Moody's Corp. 2.13% 24,630 $12.4M Reduce -4.1%
MA Mastercard Inc. Class A 2.06% 21,105 $12.0M Reduce -1.4%
TDG Transdigm Group Inc. 2.05% 7,855 $12.0M Reduce -0.8%
WMB Williams Cos Inc. 2.05% 202,479 $11.9M Reduce -2.3%
CPRT Copart Inc. 1.81% 213,437 $10.5M Reduce -14.0%
ANSS Ansys Inc. 1.74% 27,644 $10.2M Reduce -28.5%
BSX Boston Scientific Corp. 1.62% 90,117 $9.4M Add +0.3%
CMS CMS Energy Corp. 1.55% 128,515 $9.1M Reduce -3.5%
SPGI S&P Global Inc. 1.54% 16,990 $9.0M Reduce -1.9%
ECL Ecolab Inc. 1.42% 30,132 $8.3M Add +52.7%
DHR Danaher Corp. 1.36% 39,113 $7.9M Reduce -4.2%
NOW ServiceNow Inc. 1.34% 7,464 $7.8M Add +2.4%
BRK.B Berkshire Hathaway Inc. Class B 1.32% 15,848 $7.7M Reduce -6.7%
UBER Uber Technologies Inc. 1.27% 79,336 $7.4M Reduce -10.1%
CPT Camden Property Trust 1.20% 61,202 $7.0M Add +2.1%
HWM Howmet Aerospace Inc. 1.18% 37,829 $6.8M Reduce -0.5%
NVDA Nvidia Corp. 1.14% 41,879 $6.7M Add +0.1%
TMO Thermo Fisher Scientific Inc. 1.14% 15,482 $6.6M Add +71.0%
WELL Welltower Inc. 1.08% 41,115 $6.3M Add +8.4%
SYK Stryker Corp. 1.05% 15,442 $6.1M Reduce -11.3%
WST West Pharmaceutical Services 1.04% 27,330 $6.1M New
TOST Toast Inc. Class A 1.01% 135,135 $5.9M Add +15.6%
ETN Eaton Corp. PLC 1.00% 16,102 $5.8M Add +8.0%
VMC Vulcan Materials Co. 0.98% 21,551 $5.7M Reduce -5.7%
META Meta Platforms Inc. Class A 0.92% 7,409 $5.4M New
MSI Motorola Solutions Inc. 0.87% 11,997 $5.1M Reduce -17.6%
STATE STR SPDR S&P 500 ETF T 0.85% 8,000 $4.9M New
SOLV Solventum Corp. 0.83% 61,702 $4.8M Reduce -12.1%
TYL Tyler Technologies Inc. 0.82% 8,063 $4.8M Reduce -2.2%
MS Morgan Stanley 0.82% 32,985 $4.8M Add +1.7%
ATR Aptargroup Inc. 0.81% 29,211 $4.7M Reduce -8.8%
LYV Live Nation Entertainment Inc. 0.81% 31,459 $4.7M Add +1.3%
RTX RTX Corp. 0.80% 32,054 $4.7M Add +1.5%
HLT Hilton Worldwide Holdings Inc. 0.77% 16,430 $4.5M Add +1.8%
ORCL Oracle Corp. 0.77% 19,314 $4.5M New
LNG Cheniere Energy Inc. 0.76% 18,537 $4.4M Add +1.4%
V Visa Inc. Class A 0.76% 12,328 $4.4M Add +1.7%
INTU Intuit Inc. 0.76% 5,656 $4.4M Add +1.6%
JPM JPMorgan Chase & Co. 0.74% 14,537 $4.3M Add +1.4%
RMD Resmed Inc. 0.71% 16,009 $4.1M Add +1.9%
CLBT Cellebrite Di Ltd. 0.70% 265,195 $4.1M Add +34.1%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.69% 12,661 $4.0M Add +1.8%
TBLL Invesco Short Term Treasury 0.69% 38,073 $4.0M New
GFL GFL Environmental Inc.-Sub VT 0.66% 79,687 $3.9M Reduce -15.9%
CARR Carrier Global Corp. 0.64% 49,519 $3.7M Add +2.4%
AMT American Tower Corp. 0.63% 16,521 $3.7M Reduce -30.9%
PCOR Procore Technologies Inc. 0.51% 40,694 $3.0M New
SH Proshares Short S&P500 0.49% 72,800 $2.9M No change
TTEK Tetra Tech Inc. 0.46% 72,989 $2.7M New
CCJ Cameco Corp. 0.45% 35,612 $2.6M New
FTAI Ftai Aviation Ltd. 0.43% 21,950 $2.5M No change
EZU iShares MSCI Eurozone ETF 0.42% 41,200 $2.5M New
KMX Carmax Inc. 0.37% 30,683 $2.2M Reduce -5.0%
EFX Equifax Inc. 0.36% 8,109 $2.1M Reduce -4.7%
BKNG Booking Holdings Inc. 0.35% 361 $2.1M Reduce -4.5%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.34% 18,162 $2.0M Reduce -7.9%
PPL PPL Corp. 0.33% 57,194 $1.9M Add +1.9%
AAPL Apple Inc. 0.32% 8,766 $1.9M Reduce -37.1%
CCC CCC Intelligent Solutions Ho 0.31% 187,429 $1.8M Reduce -5.2%
GTLS Chart Industries Inc. 0.30% 10,000 $1.7M No change
AVGO Broadcom Inc. 0.29% 6,044 $1.7M New
UHAL.B U-Haul Holding Co.-Non Voting 0.27% 28,114 $1.6M Reduce -5.1%
JEPI JPMorgan Equity Premium Inco 0.27% 27,971 $1.6M Add +94.4%
ADP Automatic Data Processing 0.26% 4,930 $1.5M Add +2.1%
GOOG Alphabet Inc. Class C 0.23% 7,401 $1.3M No change
UNP Union Pacific Corp. 0.22% 5,535 $1.3M Reduce -74.8%
FEUZ First Trust Eurozone Alphade 0.22% 23,600 $1.3M New
CET Central Securities Corp. 0.22% 26,555 $1.3M Add +53.2%
BLK BlackRock Inc. 0.21% 1,137 $1.2M Add +2.6%
DTM DT Midstream Inc. 0.20% 10,814 $1.1M Add +2.8%
IVW iShares S&P 500 Growth ETF 0.19% 9,979 $1.1M No change
TRGP Targa Resources Corp. 0.19% 6,300 $1.1M No change
KMI Kinder Morgan Inc. 0.18% 36,500 $1.1M Add +21.7%
MAIN Main Street Capital Corp. 0.18% 17,000 $1.0M Reduce -17.1%
VTR Ventas Inc. 0.18% 16,425 $1.0M Add +6.0%
COF Capital One Financial Corp. 0.17% 4,750 $1.0M New
NSC Norfolk Southern Corp. 0.17% 3,893 $996K Reduce -3.7%
FLS Flowserve Corp. 0.17% 19,000 $995K Add +35.7%
PWR Quanta Services Inc. 0.17% 2,570 $993K No change
REXR Rexford Industrial Realty Inc. 0.17% 26,748 $993K New
IWR iShares Russell Mid-Cap ETF 0.17% 10,511 $985K Reduce -5.7%
PH Parker Hannifin Corp. 0.17% 1,400 $978K No change
DE Deere & Co. 0.17% 1,900 $966K Add +52.0%
NEE Nextera Energy Inc. 0.16% 12,500 $924K No change
ZTS Zoetis Inc. 0.16% 5,800 $923K No change
GS Goldman Sachs Group Inc. 0.16% 1,300 $920K New
FERG Ferguson Enterprises Inc. 0.16% 4,100 $916K Add +4.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.15% 18,500 $875K Add +5.7%
DGRO iShares Core Dividend Growth 0.15% 13,381 $873K Add +0.3%
BOND PIMCO Active Bond Exchange-T 0.14% 9,108 $833K Reduce -26.5%

Show all 134 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $5.4M (not counted above)
SecurityClassShares / PrincipalValueChange
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) DEP SHS REPSTG 74,642$5.4MAdd +778.1%

Total filed on the 13F, all lines: $588.3M.

Portfolio Sells Q1 2025 → Q2 2025
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -13.8% 6.87% −2.41
SGOV iShares 0-3 Month Treasury B Sold out 0.00% −1.26
CPRT Copart Inc. Reduce -14.0% 1.81% −0.90
BR Broadridge Financial Solutio Reduce -94.8% 0.05% −0.89
WCN Waste Connections Inc. Reduce -2.1% 3.50% −0.72
UNH Unitedhealth Group Inc. Sold out 0.00% −0.70
UNP Union Pacific Corp. Reduce -74.8% 0.22% −0.69
BLDR Builders Firstsource Inc. Sold out 0.00% −0.55
MCHP Microchip Technology Inc. Sold out 0.00% −0.49
COST Costco Wholesale Corp. Reduce -7.2% 3.03% −0.47
ANSS Ansys Inc. Reduce -28.5% 1.74% −0.46
BRK.B Berkshire Hathaway Inc. Class B Reduce -6.7% 1.32% −0.35
AMT American Tower Corp. Reduce -30.9% 0.63% −0.35
CMS CMS Energy Corp. Reduce -3.5% 1.55% −0.31
MSI Motorola Solutions Inc. Reduce -17.6% 0.87% −0.27
WMB Williams Cos Inc. Reduce -2.3% 2.05% −0.22
LAMR Lamar Advertising Co. Class A Reduce -77.5% 0.06% −0.19
CAT Caterpillar Inc. Sold out 0.00% −0.16
AAPL Apple Inc. Reduce -37.1% 0.32% −0.16
GFL GFL Environmental Inc.-Sub VT Reduce -15.9% 0.66% −0.16
BKR Baker Hughes Co. Sold out 0.00% −0.15
C Citigroup Inc. Sold out 0.00% −0.14
WDAY Workday Inc. Class A Sold out 0.00% −0.14
JCI Johnson Controls Internation Sold out 0.00% −0.13
SYK Stryker Corp. Reduce -11.3% 1.05% −0.13
RF Regions Financial Corp. Sold out 0.00% −0.12
SUI Sun Communities Inc. Reduce -53.4% 0.10% −0.12
CTRA Coterra Energy Inc. Sold out 0.00% −0.11
KMX Carmax Inc. Reduce -5.0% 0.37% −0.10
KGS Kodiak Gas Services Inc. Sold out 0.00% −0.09
HD Home Depot Inc. Reduce -40.0% 0.09% −0.09
BOND PIMCO Active Bond Exchange-T Reduce -26.5% 0.14% −0.08
AXP American Express Co. Sold out 0.00% −0.08
GOVT iShares US Treasury Bond ETF Reduce -27.0% 0.13% −0.08
AGG iShares Core U.S. Aggregate Reduce -27.2% 0.13% −0.08
SOLV Solventum Corp. Reduce -12.1% 0.83% −0.08
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -7.9% 0.34% −0.07
SARK Tradr 1X Short Innov DLY-Usd Sold out 0.00% −0.07
FCX Freeport-McMoran Inc. Sold out 0.00% −0.06
DHR Danaher Corp. Reduce -4.2% 1.36% −0.06
GOOGL Alphabet Inc. Class A Reduce -7.5% 2.49% −0.05
VMC Vulcan Materials Co. Reduce -5.7% 0.98% −0.05
ATR Aptargroup Inc. Reduce -8.8% 0.81% −0.05
TYL Tyler Technologies Inc. Reduce -2.2% 0.82% −0.04
UHAL.B U-Haul Holding Co.-Non Voting Reduce -5.1% 0.27% −0.04
VUSB Vanguard Ultra Short Bond Et Reduce -27.5% 0.06% −0.03
JPIB JPMorgan Intl BND ETF Reduce -27.2% 0.06% −0.03
MUB iShares National Muni Bond E Reduce -3.8% 0.12% −0.02
MAIN Main Street Capital Corp. Reduce -17.1% 0.18% −0.02
NSC Norfolk Southern Corp. Reduce -3.7% 0.17% −0.02

Portfolio Buys Q1 2025 → Q2 2025
WST West Pharmaceutical Services New 1.04% +1.04
META Meta Platforms Inc. Class A New 0.92% +0.92
STATE STR SPDR S&P 500 ETF T New 0.85% +0.85
ORCL Oracle Corp. New 0.77% +0.77
TBLL Invesco Short Term Treasury New 0.69% +0.69
ECL Ecolab Inc. Add +52.7% 1.42% +0.53
PCOR Procore Technologies Inc. New 0.51% +0.51
TTEK Tetra Tech Inc. New 0.46% +0.46
CCJ Cameco Corp. New 0.45% +0.45
EZU iShares MSCI Eurozone ETF New 0.42% +0.42
TMO Thermo Fisher Scientific Inc. Add +71.0% 1.14% +0.38
NVDA Nvidia Corp. Add +0.1% 1.14% +0.34
TOST Toast Inc. Class A Add +15.6% 1.01% +0.31
AVGO Broadcom Inc. New 0.29% +0.29
NOW ServiceNow Inc. Add +2.4% 1.34% +0.28
ETN Eaton Corp. PLC Add +8.0% 1.00% +0.24
FEUZ First Trust Eurozone Alphade New 0.22% +0.22
CP Canadian Pacific Kansas City Add +4.2% 2.56% +0.19
COF Capital One Financial Corp. New 0.17% +0.17
REXR Rexford Industrial Realty Inc. New 0.17% +0.17
MS Morgan Stanley Add +1.7% 0.82% +0.17
GS Goldman Sachs Group Inc. New 0.16% +0.16
INTU Intuit Inc. Add +1.6% 0.76% +0.15
CMF iShares California Muni Bond New 0.14% +0.14
MRVL Marvell Technology Inc. New 0.13% +0.13
BA The Boeing Co. New 0.13% +0.13
ENFR Alerian Energy Infrastructur New 0.13% +0.13
JEPI JPMorgan Equity Premium Inco Add +94.4% 0.27% +0.13
HLT Hilton Worldwide Holdings Inc. Add +1.8% 0.77% +0.12
JPM JPMorgan Chase & Co. Add +1.4% 0.74% +0.12
LPG Dorian LPG Ltd. New 0.11% +0.11
CARR Carrier Global Corp. Add +2.4% 0.64% +0.11
RRC Range Resources Corp. New 0.10% +0.10
AMD Advanced Micro Devices New 0.09% +0.09
CET Central Securities Corp. Add +53.2% 0.22% +0.08
HHH Howard Hughes Holdings Inc. New 0.07% +0.07
NCLH Norwegian Cruise Line Holdin New 0.07% +0.07
LYV Live Nation Entertainment Inc. Add +1.3% 0.81% +0.07
RMD Resmed Inc. Add +1.9% 0.71% +0.06
DE Deere & Co. Add +52.0% 0.17% +0.05
CRH CRH PLC Add +0.4% 2.49% +0.05
WELL Welltower Inc. Add +8.4% 1.08% +0.04
RTX RTX Corp. Add +1.5% 0.80% +0.04
FERG Ferguson Enterprises Inc. Add +4.1% 0.16% +0.04
TSLA Tesla Inc. New 0.03% +0.03
FLS Flowserve Corp. Add +35.7% 0.17% +0.03
BLK BlackRock Inc. Add +2.6% 0.21% +0.03
KMI Kinder Morgan Inc. Add +21.7% 0.18% +0.01
LNG Cheniere Energy Inc. Add +1.4% 0.76% +0.01
V Visa Inc. Class A Add +1.7% 0.76% +0.01

Options Activity Q1 2025 → Q2 2025
NIKE INC call Sold out 20,000 $1.3Mbefore exit
SENSATA TECHNOLOGIES HLDG PL call Sold out 12,500 $303Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) DEP SHS REPSTG Add +778.1% 74,642 $5.4M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 150$553.2MBIL, GOOGL, CRH, AMZN, WCN
Q1 2026 141$543.3MBIL, GOOGL, CRH, WCN, IDXX
Q4 2025 137$581.4MGOOGL, MSFT, BIL, CRH, IDXX
Q3 2025 141$588.1MMSFT, BIL, GOOGL, WCN, IDXX
Q2 2025 134$582.9MBIL, MSFT, WCN, COST, IDXX
Q1 2025 125$500.5MBIL, MSFT, WCN, COST, CPRT
Q4 2024 129$563.1MBIL, MSFT, WCN, COST, GOOGL
Q3 2024 137$572.7MMSFT, WCN, DHR, BIL, COST
Q2 2024 133$564.8MMSFT, BIL, WCN, DHR, GOOGL
Q1 2024 143$556.1MMSFT, BIL, WCN, CPRT, DHR