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Cercano Management Portfolio holdings

AUM $2.32B
1-Year Est. Return 30.12%
This Fund
S&P 500
This Quarter Est. Return
+0.15%
1 Year Est. Return
+30.12%
3 Year Est. Return
+102.51%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.32B
AUM Growth
-$326M
Cap. Flow
-$296M
Cap. Flow %
-12.78%
Top 10 Hldgs %
56.29%
Holding
158
New
12
Increased
15
Reduced
37
Closed
16

Top Buys

1
NFLX icon
Netflix
NFLX
+$53.6M
2
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$41M
3
BLDR icon
Builders FirstSource
BLDR
+$35.8M
4
MSFT icon
Microsoft
MSFT
+$27.4M
5
COF icon
Capital One
COF
+$16.5M

Top Sells

1
XPO icon
XPO
XPO
+$213M
2
QXO
QXO Inc
QXO
+$137M
3
PANW icon
Palo Alto Networks
PANW
+$35.2M
4
IAU icon
iShares Gold Trust
IAU
+$22.3M
5
UNP icon
Union Pacific
UNP
+$18.6M

Sector Composition

1 Industrials 29.1%
2 Technology 16.49%
3 Healthcare 8.7%
4 Communication Services 8.5%
5 Financials 8.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UNP icon
1
Union Pacific
UNP
$179B
$255M 11.01%
1,050,823
-75,785
-7% -$18.6M
MSFT icon
2
Microsoft
MSFT
$2.93T
$225M 9.72%
608,325
+65,589
+12% +$27.4M
XPO icon
3
XPO
XPO
$25.2B
$147M 6.35%
756,536
-1,189,460
-61% -$213M
RSP icon
4
Invesco S&P 500 Equal Weight ETF
RSP
$96.4B
$142M 6.14%
741,425
+206,947
+39% +$41M
LLY icon
5
Eli Lilly
LLY
$1.05T
$126M 5.46%
137,377
-5,077
-4% -$5.15M
NVDA icon
6
NVIDIA
NVDA
$4.91T
$109M 4.7%
623,668
-2,490
-0.4% -$457K
QXO
7
QXO Inc
QXO
$14.9B
$93.5M 4.04%
4,813,158
-6,002,674
-55% -$137M
META icon
8
Meta Platforms (Facebook)
META
$1.64T
$86.1M 3.72%
150,454
-553
-0.4% -$354K
AMZN icon
9
Amazon
AMZN
$2.66T
$60M 2.59%
288,193
+36,654
+15% +$8.07M
NFLX icon
10
Netflix
NFLX
$290B
$59.5M 2.57%
618,427
+608,097
+5,887% +$53.6M
SCHW
11
Charles Schwab
SCHW
$177B
$36.7M 1.58%
390,217
– –
SPY icon
12
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$36.3M 1.57%
55,788
– –
HYMB icon
13
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF
HYMB
$3.08B
$34.4M 1.49%
1,387,825
– –
BLDR icon
14
Builders FirstSource
BLDR
$7.99B
$31.8M 1.37%
386,254
+335,126
+655% +$35.8M
COF icon
15
Capital One
COF
$128B
$31.7M 1.37%
173,628
+79,058
+84% +$16.5M
BKSY icon
16
BlackSky Technology
BKSY
$823M
$31.3M 1.35%
1,243,976
– –
GEV icon
17
GE Vernova
GEV
$284B
$29M 1.25%
33,199
– –
QQQ icon
18
Invesco QQQ Trust
QQQ
$466B
$28.1M 1.21%
48,739
– –
NAUT icon
19
Nautilus Biotechnolgy
NAUT
$221M
$27.8M 1.2%
7,172,985
– –
CEG icon
20
Constellation Energy
CEG
$90.1B
$26M 1.12%
93,085
-7,830
-8% -$2.38M
SPEM icon
21
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$16.9B
$25.7M 1.11%
548,897
-93,203
-15% -$4.54M
GOOGL icon
22
Alphabet (Google) Class A
GOOGL
$4.23T
$25.6M 1.1%
88,904
-933
-1% -$293K
GOOG icon
23
Alphabet (Google) Class C
GOOG
$4.22T
$25.2M 1.09%
87,753
+25,015
+40% +$7.86M
MCO icon
24
Moody's
MCO
$89.2B
$25M 1.08%
57,368
– –
UNH icon
25
UnitedHealth
UNH
$387B
$24.6M 1.06%
90,927
– –
1
2 3 4 5

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DIA
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FBIL
First Beijing Investment Ltd Hong Kong $2.32B AUM 8.06% 1-Year Est. Return
NDSIB
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ABI
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EPM
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MFAM
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Cercano Management's Q1 2026 Portfolio in Review

As of Q1 2026, Cercano Management held 158 positions worth $2.32B, down 12% from $2.64B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Cercano Management withdrew a net $296M in Q1 2026, closing 16 positions and reducing 37 holdings. Its most notable exit was Palo Alto Networks, an estimated $35.2M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 29% of assets, down from 33% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Cercano Management opened a new position in Vanguard Real Estate ETF worth $9.42M.

  • Cercano Management's largest Q1 2026 buy was Vanguard Real Estate ETF: 106,191 shares worth $9.42M.
  • Cercano Management added most to Netflix in Q1 2026, an estimated $53.6M increase.
  • Cercano Management's biggest Q1 2026 reduction was XPO, cutting an estimated $213M.
  • Cercano Management fully exited Palo Alto Networks in Q1 2026, selling an estimated $35.2M.
  • Cercano Management's ten largest holdings make up 56% of its $2.32B portfolio in Q1 2026.
  • Cercano Management opened 12 new positions and closed 16 in Q1 2026.
  • Cercano Management's portfolio value fell 12% quarter-over-quarter to $2.32B.

Based on Cercano Management's 13F filing for Q1 2026, filed 13 May 2026.