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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
-2.68%
1 Year Est. Return
+30.12%
3 Year Est. Return
+102.51%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$3.4B
AUM Growth
-$527M
Cap. Flow
-$383M
Cap. Flow %
-11.27%
Top 10 Hldgs %
47.77%
Holding
193
New
16
Increased
19
Reduced
30
Closed
45

Top Buys

Rank Stock Value
1
APD icon
Air Products & Chemicals
APD
+$57.1M
2
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$44.7M
3
PWR icon
Quanta Services
PWR
+$40.5M
4
NOC icon
Northrop Grumman
NOC
+$36.7M
5
PANW icon
Palo Alto Networks
PANW
+$35.9M

Top Sells

Rank Stock Value
1
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$118M
2
MSFT icon
Microsoft
MSFT
+$58.3M
3
LEN icon
Lennar Class A
LEN
+$53.9M
4
AMZN icon
Amazon
AMZN
+$49.6M
5
TSM icon
TSMC
TSM
+$43.6M

Sector Composition

Rank Sector Weight
1 Industrials 24.29%
2 Technology 20.37%
3 Financials 16.22%
4 Communication Services 7.47%
5 Consumer Discretionary 5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NOC icon
26
Northrop Grumman
NOC
$77.1B
$39.6M 1.16%
77,395
+76,958
+17,611% +$36.7M
PANW icon
27
Palo Alto Networks
PANW
$270B
$36.4M 1.07%
213,579
+194,375
+1,012% +$35.9M
PWR icon
28
Quanta Services
PWR
$100B
$35.6M 1.05%
+140,119
New +$40.5M
HYMB icon
29
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF
HYMB
$3.09B
$35M 1.03%
1,387,825
+973,525
+235% +$25M
XLP icon
30
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.2B
$32.1M 0.94%
+393,388
New +$31.4M
MLM icon
31
Martin Marietta Materials
MLM
$31.5B
$30.4M 0.89%
63,669
– –
GLD icon
32
SPDR Gold Trust
GLD
$131B
$29.4M 0.86%
102,005
-26,862
-21% -$7.1M
XLU icon
33
State Street Utilities Select Sector SPDR ETF
XLU
$22.8B
$27M 0.79%
684,814
– –
WMS icon
34
Advanced Drainage Systems
WMS
$10.6B
$27M 0.79%
248,372
-9,758
-4% -$1.14M
HYLB icon
35
Xtrackers USD High Yield Corporate Bond ETF
HYLB
$3.52B
$25.5M 0.75%
706,147
-831,025
-54% -$30.2M
MRSH
36
Marsh
MRSH
$90.5B
$24.2M 0.71%
+99,304
New +$22.5M
GRAB icon
37
Grab
GRAB
$14.3B
$23.9M 0.7%
5,286,833
– –
PGR icon
38
Progressive
PGR
$123B
$21.6M 0.63%
76,175
-58,218
-43% -$15.2M
FROG icon
39
JFrog
FROG
$9.66B
$21.4M 0.63%
669,682
-139,433
-17% -$4.85M
KR icon
40
Kroger
KR
$35.4B
$20.8M 0.61%
+307,616
New +$19.5M
NKE icon
41
Nike
NKE
$61.9B
$20.8M 0.61%
+327,194
New +$24.1M
FCN icon
42
FTI Consulting
FCN
$4.4B
$19.6M 0.58%
+119,739
New +$21.5M
PDO
43
PIMCO Dynamic Income Opportunities Fund
PDO
$1.86B
$19M 0.56%
1,370,793
+883,339
+181% +$12.2M
DDOG icon
44
Datadog
DDOG
$95.4B
$18.7M 0.55%
188,470
+3,881
+2% +$490K
OWL icon
45
Blue Owl Capital
OWL
$6.96B
$17.7M 0.52%
+883,285
New +$19.9M
ISRG icon
46
Intuitive Surgical
ISRG
$127B
$15.6M 0.46%
31,463
+30,842
+4,967% +$17.1M
AGG icon
47
iShares Core US Aggregate Bond ETF
AGG
$137B
$15M 0.44%
151,570
– –
SHM icon
48
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.46B
$15M 0.44%
+314,202
New +$15M
XLE icon
49
State Street Energy Select Sector SPDR ETF
XLE
$39.6B
$14.9M 0.44%
319,620
– –
ARQT icon
50
Arcutis Biotherapeutics
ARQT
$3.36B
$14.5M 0.43%
928,701
-326,664
-26% -$4.6M
1
2
3 4 5

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Cercano Management's Q1 2025 Portfolio in Review

As of Q1 2025, Cercano Management held 193 positions worth $3.4B, down 13% from $3.93B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Cercano Management withdrew a net $383M in Q1 2025, closing 45 positions and reducing 30 holdings. Its most notable exit was Lennar Class A, an estimated $53.9M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 24% of assets, up from 21% a quarter earlier, followed by Technology and Financials.

Against the trend, Cercano Management opened a new position in Air Products & Chemicals worth $54.6M.

  • Cercano Management's largest Q1 2025 buy was Air Products & Chemicals: 185,296 shares worth $54.6M.
  • Cercano Management added most to State Street Health Care Select Sector SPDR ETF in Q1 2025, an estimated $44.7M increase.
  • Cercano Management's biggest Q1 2025 reduction was Invesco S&P 500 Equal Weight ETF, cutting an estimated $118M.
  • Cercano Management fully exited Lennar Class A in Q1 2025, selling an estimated $53.9M.
  • Cercano Management's ten largest holdings make up 48% of its $3.4B portfolio in Q1 2025.
  • Cercano Management opened 16 new positions and closed 45 in Q1 2025.
  • Cercano Management's portfolio value fell 13% quarter-over-quarter to $3.4B.

Based on Cercano Management's 13F filing for Q1 2025, filed 13 May 2025.