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Cercano Management Portfolio holdings

AUM $750M
1-Year Est. Return 25.77%
This Fund
S&P 500
This Quarter Est. Return
+14.95%
1 Year Est. Return
+25.77%
3 Year Est. Return
+100.68%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$750M
AUM Growth
-$1.57B
Cap. Flow
-$1.76B
Cap. Flow %
-234.31%
Top 10 Hldgs %
65.26%
Holding
164
New
22
Increased
2
Reduced
45
Closed
32

Top Buys

Rank Stock Value
1
PDO
PIMCO Dynamic Income Opportunities Fund
PDO
+$10.3M
2
VMC icon
Vulcan Materials
VMC
+$5.45M
3
MU icon
Micron Technology
MU
+$5.03M
4
DASH icon
DoorDash
DASH
+$3.95M
5
JAZZ icon
Jazz Pharmaceuticals
JAZZ
+$3.8M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$238M
2
XPO icon
XPO
XPO
+$154M
3
LLY icon
Eli Lilly
LLY
+$135M
4
NVDA icon
NVIDIA
NVDA
+$110M
5
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$106M

Sector Composition

Rank Sector Weight
1 Industrials 44.41%
2 Miscellaneous 20.61%
3 Technology 8.89%
4 Communication Services 7.84%
5 Healthcare 6.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UNP icon
1
Union Pacific
UNP
$173B
$280M 37.3%
1,028,382
-22,441
-2% -$5.89M
RSP icon
2
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
$47M 6.27%
221,055
-520,370
-70% -$106M
META icon
3
Meta Platforms (Facebook)
META
$1.56T
$44.6M 5.95%
79,237
-71,217
-47% -$43.5M
BKSY icon
4
BlackSky Technology
BKSY
$846M
$26M 3.47%
932,982
-310,994
-25% -$11.2M
NVDA icon
5
NVIDIA
NVDA
$5.64T
$17.6M 2.34%
87,813
-535,855
-86% -$110M
XLK icon
6
State Street Technology Select Sector SPDR ETF
XLK
$122B
$16.6M 2.21%
86,935
-75,120
-46% -$12.8M
DNLI icon
7
Denali Therapeutics
DNLI
$3.57B
$16.1M 2.14%
625,000
– –
VTV icon
8
Vanguard Morningstar Value ETF
VTV
$193B
$15.1M 2.01%
69,120
– –
NAUT icon
9
Nautilus Biotechnolgy
NAUT
$115M
$13.4M 1.79%
7,172,985
– –
AMZN icon
10
Amazon
AMZN
$2.78T
$13.3M 1.77%
55,622
-232,571
-81% -$58.4M
PDO
11
PIMCO Dynamic Income Opportunities Fund
PDO
$1.8B
$10.4M 1.38%
+783,312
New +$10.3M
AAPL icon
12
Apple
AAPL
$4.7T
$9M 1.2%
31,112
-32,773
-51% -$9.37M
JHX icon
13
James Hardie Industries
JHX
$17.3B
$8.86M 1.18%
338,568
+147,907
+78% +$3.25M
EWY icon
14
iShares MSCI South Korea ETF
EWY
$28.2B
$8.72M 1.16%
43,201
-89,564
-67% -$15.8M
SPYD icon
15
State Street SPDR Portfolio S&P 500 High Dividend ETF
SPYD
$7.65B
$8.35M 1.11%
174,939
-42,974
-20% -$2.02M
QXO
16
QXO Inc
QXO
$13.9B
$8.34M 1.11%
482,875
-4,330,283
-90% -$80.6M
XLE icon
17
State Street Energy Select Sector SPDR ETF
XLE
$41.5B
$7.9M 1.05%
148,672
– –
MU icon
18
Micron Technology
MU
$1.12T
$7.74M 1.03%
+6,704
New +$5.03M
SPY icon
19
State Street SPDR S&P 500 ETF Trust
SPY
$816B
$7.21M 0.96%
9,660
-46,128
-83% -$33.4M
MSFT icon
20
Microsoft
MSFT
$3.74T
$7.15M 0.95%
19,163
-589,162
-97% -$238M
GOOGL icon
21
Alphabet (Google) Class A
GOOGL
$4.17T
$6.79M 0.91%
18,993
-69,911
-79% -$25.2M
LRCX icon
22
Lam Research
LRCX
$387B
$6.55M 0.87%
15,110
-56,421
-79% -$17.1M
LLY icon
23
Eli Lilly
LLY
$1.02T
$6.42M 0.86%
5,353
-132,024
-96% -$135M
COF icon
24
Capital One
COF
$134B
$6.3M 0.84%
31,409
-142,219
-82% -$27.2M
GRAB icon
25
Grab
GRAB
$13.9B
$6.03M 0.8%
1,600,000
– –
1
2 3 4 5

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QI
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FIS
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VCM
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TWM
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PFA
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JA
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NFA
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Cercano Management's Q2 2026 Portfolio in Review

As of Q2 2026, Cercano Management held 164 positions worth $750M, down 68% from $2.32B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Cercano Management withdrew a net $1.76B in Q2 2026, closing 32 positions and reducing 45 holdings. Its most notable exit was Charles Schwab, an estimated $36.7M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 44% of assets, up from 29% a quarter earlier, followed by Miscellaneous and Technology.

Against the trend, Cercano Management opened a new position in PIMCO Dynamic Income Opportunities Fund worth $10.4M.

  • Cercano Management's largest Q2 2026 buy was PIMCO Dynamic Income Opportunities Fund: 783,312 shares worth $10.4M.
  • Cercano Management added most to James Hardie Industries in Q2 2026, an estimated $3.25M increase.
  • Cercano Management's biggest Q2 2026 reduction was Microsoft, cutting an estimated $238M.
  • Cercano Management fully exited Charles Schwab in Q2 2026, selling an estimated $36.7M.
  • Cercano Management's ten largest holdings make up 65% of its $750M portfolio in Q2 2026.
  • Cercano Management opened 22 new positions and closed 32 in Q2 2026.
  • Cercano Management's portfolio value fell 68% quarter-over-quarter to $750M.

Based on Cercano Management's 13F filing for Q2 2026, filed 13 Aug 2026.