# EDGAR Filing Document

**Accession Number:** 0001643833
**File Stem:** 0001420506-25-002057
**Filing Date:** 2025-8
**Character Count:** 17210
**Document Hash:** 8ce1ebc1f4a3f48b4b4a62a2fab7cbf8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-25-002057.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001420506-25-002057

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BRASADA CAPITAL MANAGEMENT, LP
- **CENTRAL INDEX KEY:** 0001643833

**ORGANIZATION NAME:**
- **EIN:** 262750699
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18457
- **FILM NUMBER:** 251215405

**BUSINESS ADDRESS:**
- **STREET 1:** 3200 SOUTHWEST FREEWAY
- **STREET 2:** SUITE 2160
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027
- **BUSINESS PHONE:** 713-630-8390

**MAIL ADDRESS:**
- **STREET 1:** 3200 SOUTHWEST FREEWAY
- **STREET 2:** SUITE 2160
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77027

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** BRASADA CAPITAL MANAGEMENT LP<br>**Address:** 3200 SOUTHWEST FREEWAY<br>SUITE 2160<br>HOUSTON, TX 77027

**Form 13F File Number:** 028-18457

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:** Karen Grimaldo<br>**Title:** Chief Compliance Officer<br>**Phone:** 713-630-8390

**Signature, Place, and Date of Signing:**

Karen Grimaldo Chief Compliance Officer  HOUSTON, TX  08-06-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 136

**Form 13F Information Table Value Total:** $588278400

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 551640 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1336251 | 7401 | SH |  | SOLE |  | 6501 | 0 | 900 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 14526430 | 80978 | SH |  | SOLE |  | 54568 | 0 | 26410 |
| ALPS ETF TR | ALERIAN ENERGY | 00162Q676 |  | 760338 | 23850 | SH |  | SOLE |  | 7000 | 0 | 16850 |
| AMAZON COM INC | COM | 023135106 |  | 17127066 | 76770 | SH |  | SOLE |  | 58652 | 0 | 18118 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 3663532 | 16521 | SH |  | SOLE |  | 6064 | 0 | 10457 |
| ANSYS INC | COM | 03662Q105 |  | 10158617 | 27644 | SH |  | SOLE |  | 9124 | 0 | 18520 |
| ANTERO MIDSTREAM CORP | COM | 03676B102 |  | 543300 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| APPLE INC | COM | 037833100 |  | 1871979 | 8766 | SH |  | SOLE |  | 2156 | 0 | 6610 |
| APTARGROUP INC | COM | 038336103 |  | 4704139 | 29211 | SH |  | SOLE |  | 14442 | 0 | 14769 |
| ARCHROCK INC | COM | 03957W106 |  | 444600 | 18000 | SH |  | SOLE |  | 0 | 0 | 18000 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 1524356 | 4930 | SH |  | SOLE |  | 3632 | 0 | 1298 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 328163 | 1620 | SH |  | SOLE |  | 980 | 0 | 640 |
| BANK AMERICA CORP | COM | 060505104 |  | 875420 | 18500 | SH |  | SOLE |  | 18500 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 7686038 | 15848 | SH |  | SOLE |  | 8272 | 0 | 7576 |
| BLACKROCK INC | COM | 09290D101 |  | 1230405 | 1137 | SH |  | SOLE |  | 572 | 0 | 565 |
| BOEING CO | COM | 097023105 |  | 763709 | 3537 | SH |  | SOLE |  | 0 | 0 | 3537 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 2063765 | 361 | SH |  | SOLE |  | 361 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 9425725 | 90117 | SH |  | SOLE |  | 41960 | 0 | 48157 |
| BROADCOM INC | COM | 11135F101 |  | 1664363 | 6044 | SH |  | SOLE |  | 4284 | 0 | 1760 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 273607 | 1130 | SH |  | SOLE |  | 0 | 0 | 1130 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 6977640 | 61202 | SH |  | SOLE |  | 32127 | 0 | 29075 |
| CAMECO CORP | COM | 13321L108 |  | 2623501 | 35612 | SH |  | SOLE |  | 33501 | 0 | 2111 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 |  | 14894854 | 183819 | SH |  | SOLE |  | 108933 | 0 | 74886 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 1010610 | 4750 | SH |  | SOLE |  | 4750 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 2166527 | 30683 | SH |  | SOLE |  | 30683 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 3746112 | 49519 | SH |  | SOLE |  | 45322 | 0 | 4197 |
| CCC INTELLIGENT SOLUTIONS HL | COM | 12510Q100 |  | 1827433 | 187429 | SH |  | SOLE |  | 187429 | 0 | 0 |
| CELLEBRITE DI LTD | ORDINARY SHARES | M2197Q107 |  | 4097263 | 265195 | SH |  | SOLE |  | 148118 | 0 | 117077 |
| CENTRAL SECS CORP | COM | 155123102 |  | 1282607 | 26555 | SH |  | SOLE |  | 10160 | 0 | 16395 |
| CHART INDS INC | COM | 16115Q308 |  | 1736300 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 4441836 | 18537 | SH |  | SOLE |  | 17170 | 0 | 1367 |
| CHESAPEAKE UTILS CORP | COM | 165303108 |  | 455211 | 3700 | SH |  | SOLE |  | 700 | 0 | 3000 |
| CMS ENERGY CORP | COM | 125896100 |  | 9056452 | 128515 | SH |  | SOLE |  | 54855 | 0 | 73660 |
| COPART INC | COM | 217204106 |  | 10526713 | 213437 | SH |  | SOLE |  | 139379 | 0 | 74058 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 17689363 | 17922 | SH |  | SOLE |  | 10340 | 0 | 7582 |
| CRH PLC | ORD | G25508105 |  | 14494490 | 152670 | SH |  | SOLE |  | 95268 | 0 | 57402 |
| DANAHER CORPORATION | COM | 235851102 |  | 7947762 | 39113 | SH |  | SOLE |  | 23455 | 0 | 15658 |
| DEERE  CO | COM | 244199105 |  | 966131 | 1900 | SH |  | SOLE |  | 1900 | 0 | 0 |
| DORIAN LPG LTD | SHS USD | Y2106R110 |  | 649000 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 |  | 1145635 | 10814 | SH |  | SOLE |  | 6074 | 0 | 4740 |
| EATON CORP PLC | SHS | G29183103 |  | 5816776 | 16102 | SH |  | SOLE |  | 14877 | 0 | 1225 |
| ECOLAB INC | COM | 278865100 |  | 8258880 | 30132 | SH |  | SOLE |  | 12685 | 0 | 17447 |
| EPAM SYS INC | COM | 29414B104 |  | 274245 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| EQUIFAX INC | COM | 294429105 |  | 2123017 | 8109 | SH |  | SOLE |  | 8109 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 915612 | 4100 | SH |  | SOLE |  | 1994 | 0 | 2106 |
| FIRST TR EXCH TRD ALPHDX FD | EURO ALPHADEX | 33737J505 |  | 1305972 | 23600 | SH |  | SOLE |  | 600 | 0 | 23000 |
| FLOWSERVE CORP | COM | 34354P105 |  | 994650 | 19000 | SH |  | SOLE |  | 19000 | 0 | 0 |
| FTAI AVIATION LTD | SHS | G3730V105 |  | 2523153 | 21950 | SH |  | SOLE |  | 0 | 0 | 21950 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 4027464 | 12661 | SH |  | SOLE |  | 11680 | 0 | 981 |
| GAMBLING COM GROUP LIMITED | ORDINARY SHARES | G3R239101 |  | 683568 | 56400 | SH |  | SOLE |  | 0 | 0 | 56400 |
| GFL ENVIRONMENTAL INC | SUB VTG SHS | 36168Q104 |  | 3864023 | 79687 | SH |  | SOLE |  | 79687 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 920075 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| HEICO CORP NEW | CL A | 422806208 |  | 13893408 | 54720 | SH |  | SOLE |  | 30616 | 0 | 24104 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 4492291 | 16430 | SH |  | SOLE |  | 15102 | 0 | 1328 |
| HOME DEPOT INC | COM | 437076102 |  | 549960 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| HOWARD HUGHES HOLDINGS INC | COM | 44267T102 |  | 413460 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 6849319 | 37829 | SH |  | SOLE |  | 21710 | 0 | 16119 |
| IDEXX LABS INC | COM | 45168D104 |  | 17602235 | 32179 | SH |  | SOLE |  | 17758 | 0 | 14421 |
| INTUIT | COM | 461202103 |  | 4415251 | 5656 | SH |  | SOLE |  | 5127 | 0 | 529 |
| INVESCO EXCH TRADED FD TR II | SHORT TERM TREAS | 46138G888 |  | 4020532 | 38073 | SH |  | SOLE |  | 36872 | 0 | 1201 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 624962 | 1124 | SH |  | SOLE |  | 1124 | 0 | 0 |
| ISHARES INC | MSCI EURZONE ETF | 464286608 |  | 2455932 | 41200 | SH |  | SOLE |  | 1200 | 0 | 40000 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 760582 | 7724 | SH |  | SOLE |  | 7724 | 0 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 1980748 | 18162 | SH |  | SOLE |  | 16677 | 0 | 1485 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 1105673 | 9979 | SH |  | SOLE |  | 9979 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 985091 | 10511 | SH |  | SOLE |  | 8749 | 0 | 1762 |
| ISHARES TR | CALIF MUN BD ETF | 464288356 |  | 794937 | 14300 | SH |  | SOLE |  | 14300 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 714145 | 6849 | SH |  | SOLE |  | 6849 | 0 | 0 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 752059 | 33014 | SH |  | SOLE |  | 33014 | 0 | 0 |
| ISHARES TR | CORE DIV GRWTH | 46434V621 |  | 872709 | 13381 | SH |  | SOLE |  | 11128 | 0 | 2253 |
| ISHARES TR | US TECH BRKTHR | 46436E502 |  | 677024 | 11694 | SH |  | SOLE |  | 9637 | 0 | 2057 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 1591798 | 27971 | SH |  | SOLE |  | 20008 | 0 | 7963 |
| J P MORGAN EXCHANGE TRADED F | INTL BD OPP ETF | 46641Q852 |  | 341440 | 7040 | SH |  | SOLE |  | 7040 | 0 | 0 |
| JETBLUE AWYS CORP | COM | 477143101 |  | 62440 | 14000 | SH |  | SOLE |  | 0 | 0 | 14000 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 4302952 | 14537 | SH |  | SOLE |  | 13415 | 0 | 1122 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 1073100 | 36500 | SH |  | SOLE |  | 36500 | 0 | 0 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 |  | 331818 | 2671 | SH |  | SOLE |  | 1101 | 0 | 1570 |
| LIVE NATION ENTERTAINMENT IN | COM | 538034109 |  | 4695885 | 31459 | SH |  | SOLE |  | 28615 | 0 | 2844 |
| MAIN STR CAP CORP | COM | 56035L104 |  | 1039210 | 17000 | SH |  | SOLE |  | 17000 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 774000 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 12013810 | 21105 | SH |  | SOLE |  | 14691 | 0 | 6414 |
| MCDONALDS CORP | COM | 580135101 |  | 778724 | 2648 | SH |  | SOLE |  | 1441 | 0 | 1207 |
| MDU RES GROUP INC | COM | 552690109 |  | 420250 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| META PLATFORMS INC | CL A | 30303M102 |  | 5355765 | 7409 | SH |  | SOLE |  | 4901 | 0 | 2508 |
| MICROCHIP TECHNOLOGY INC. | DEP SHS REPSTG | 595017302 |  | 599760 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC. | DEP SHS REPSTG | 595017302 |  | 4763525 | 65642 | SH |  | SOLE |  | 60618 | 0 | 5024 |
| MICROSOFT CORP | COM | 594918104 |  | 32030018 | 64209 | SH |  | SOLE |  | 37292 | 0 | 26917 |
| MONARCH CASINO  RESORT INC | COM | 609027107 |  | 628530 | 7000 | SH |  | SOLE |  | 4500 | 0 | 2500 |
| MOODYS CORP | COM | 615369105 |  | 12439628 | 24630 | SH |  | SOLE |  | 12231 | 0 | 12399 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 4754458 | 32985 | SH |  | SOLE |  | 30220 | 0 | 2765 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 5096805 | 11997 | SH |  | SOLE |  | 6048 | 0 | 5949 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 923500 | 12500 | SH |  | SOLE |  | 8100 | 0 | 4400 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 996491 | 3893 | SH |  | SOLE |  | 3893 | 0 | 0 |
| NORWEGIAN CRUISE LINE HLDG L | SHS | G66721104 |  | 405600 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 6673000 | 41879 | SH |  | SOLE |  | 38503 | 0 | 3376 |
| ONEOK INC NEW | COM | 682680103 |  | 631985 | 7694 | SH |  | SOLE |  | 2000 | 0 | 5694 |
| ORACLE CORP | COM | 68389X105 |  | 4490148 | 19314 | SH |  | SOLE |  | 18104 | 0 | 1210 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 977858 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 832927 | 9108 | SH |  | SOLE |  | 9108 | 0 | 0 |
| PLAINS GP HLDGS L P | LTD PARTNR INT A | 72651A207 |  | 390800 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| PPL CORP | COM | 69351T106 |  | 1933729 | 57194 | SH |  | SOLE |  | 20679 | 0 | 36515 |
| PROCORE TECHNOLOGIES INC | COM | 74275K108 |  | 2975138 | 40694 | SH |  | SOLE |  | 19954 | 0 | 20740 |
| PROSHARES TR | SHORT S 500 NE | 74349Y753 |  | 2857400 | 72800 | SH |  | SOLE |  | 72800 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 993331 | 2570 | SH |  | SOLE |  | 0 | 0 | 2570 |
| RANGE RES CORP | COM | 75281A109 |  | 610050 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 4113673 | 16009 | SH |  | SOLE |  | 14665 | 0 | 1344 |
| REXFORD INDL RLTY INC | COM | 76169C100 |  | 993153 | 26748 | SH |  | SOLE |  | 13419 | 0 | 13329 |
| RTX CORPORATION | COM | 75513E101 |  | 4671871 | 32054 | SH |  | SOLE |  | 29337 | 0 | 2717 |
| S GLOBAL INC | COM | 78409V104 |  | 8996334 | 16990 | SH |  | SOLE |  | 11343 | 0 | 5647 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 753547 | 27552 | SH |  | SOLE |  | 27552 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 7797566 | 7464 | SH |  | SOLE |  | 5525 | 0 | 1939 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 4843607 | 61702 | SH |  | SOLE |  | 33643 | 0 | 28059 |
| SPDR S 500 ETF TR | PUT | 78462F953 |  | 4942800 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 40049687 | 437702 | SH |  | SOLE |  | 195296 | 0 | 242406 |
| STRYKER CORPORATION | COM | 863667101 |  | 6103914 | 15442 | SH |  | SOLE |  | 7559 | 0 | 7883 |
| SUN CMNTYS INC | COM | 866674104 |  | 563574 | 4360 | SH |  | SOLE |  | 3260 | 0 | 1100 |
| TARGA RES CORP | COM | 87612G101 |  | 1093176 | 6300 | SH |  | SOLE |  | 100 | 0 | 6200 |
| TESLA INC | COM | 88160R101 |  | 202139 | 641 | SH |  | SOLE |  | 381 | 0 | 260 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 2671397 | 72989 | SH |  | SOLE |  | 38465 | 0 | 34524 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 6646887 | 15482 | SH |  | SOLE |  | 11065 | 0 | 4417 |
| TOAST INC | CL A | 888787108 |  | 5901963 | 135135 | SH |  | SOLE |  | 75474 | 0 | 59661 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 11962246 | 7855 | SH |  | SOLE |  | 4492 | 0 | 3363 |
| TYLER TECHNOLOGIES INC | COM | 902252105 |  | 4757493 | 8063 | SH |  | SOLE |  | 5772 | 0 | 2291 |
| U HAUL HOLDING COMPANY | COM SER N | 023586506 |  | 1595751 | 28114 | SH |  | SOLE |  | 28114 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 7428213 | 79336 | SH |  | SOLE |  | 75323 | 0 | 4013 |
| UNION PAC CORP | COM | 907818108 |  | 1307810 | 5535 | SH |  | SOLE |  | 3580 | 0 | 1955 |
| VANGUARD BD INDEX FDS | VANGUARD ULTRA | 92203C303 |  | 332095 | 6684 | SH |  | SOLE |  | 6684 | 0 | 0 |
| VENTAS INC | COM | 92276F100 |  | 1033625 | 16425 | SH |  | SOLE |  | 9130 | 0 | 7295 |
| VISA INC | COM CL A | 92826C839 |  | 4424026 | 12328 | SH |  | SOLE |  | 11188 | 0 | 1140 |
| VULCAN MATLS CO | COM | 929160109 |  | 5737738 | 21551 | SH |  | SOLE |  | 9283 | 0 | 12268 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 20420683 | 112990 | SH |  | SOLE |  | 53698 | 0 | 59293 |
| WELLTOWER INC | COM | 95040Q104 |  | 6281139 | 41115 | SH |  | SOLE |  | 17641 | 0 | 23474 |
| WEST PHARMACEUTICAL SVSC INC | COM | 955306105 |  | 6074366 | 27330 | SH |  | SOLE |  | 18085 | 0 | 9245 |
| WILLIAMS COS INC | COM | 969457100 |  | 11942174 | 202479 | SH |  | SOLE |  | 96410 | 0 | 106069 |
| ZOETIS INC | CL A | 98978V103 |  | 923244 | 5800 | SH |  | SOLE |  | 0 | 0 | 5800 |

---