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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
+5.44%
1 Year Est. Return
+30.12%
3 Year Est. Return
+102.51%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.61B
AUM Growth
-$895M
Cap. Flow
-$1.03B
Cap. Flow %
-39.57%
Top 10 Hldgs %
60.71%
Holding
180
New
26
Increased
4
Reduced
50
Closed
29

Top Buys

Rank Stock Value
1
TIC
TIC Solutions Inc
TIC
+$33.1M
2
SHW icon
Sherwin-Williams
SHW
+$20.3M
3
FLJP icon
Franklin FTSE Japan ETF
FLJP
+$13.3M
4
BA icon
Boeing
BA
+$11.7M
5
STX icon
Seagate
STX
+$10.9M

Top Sells

Rank Stock Value
1
NVEE
NV5 Global
NVEE
+$90.6M
2
MSFT icon
Microsoft
MSFT
+$87.5M
3
AMZN icon
Amazon
AMZN
+$86.3M
4
NVDA icon
NVIDIA
NVDA
+$43.5M
5
META icon
Meta Platforms (Facebook)
META
+$41.8M

Sector Composition

Rank Sector Weight
1 Industrials 33.41%
2 Technology 19.99%
3 Financials 9.71%
4 Healthcare 6.27%
5 Communication Services 5.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XLK icon
26
State Street Technology Select Sector SPDR ETF
XLK
$114B
$20.6M 0.79%
146,502
+63,878
+77% +$8.46M
GEV icon
27
GE Vernova
GEV
$284B
$20.4M 0.78%
33,199
-27,721
-46% -$16.8M
SHW icon
28
Sherwin-Williams
SHW
$81.7B
$20M 0.77%
+57,705
New +$20.3M
APO icon
29
Apollo Global Management
APO
$69.5B
$19.7M 0.75%
147,599
-124,450
-46% -$17.6M
PANW icon
30
Palo Alto Networks
PANW
$292B
$19.6M 0.75%
96,090
-77,938
-45% -$14.9M
EWW icon
31
iShares MSCI Mexico ETF
EWW
$1.87B
$16.3M 0.63%
239,617
– –
JPM icon
32
JPMorgan Chase
JPM
$907B
$15.6M 0.6%
49,354
-44,719
-48% -$13.3M
GOOG icon
33
Alphabet (Google) Class C
GOOG
$4.22T
$15.3M 0.59%
62,738
-42,492
-40% -$8.93M
AGG icon
34
iShares Core US Aggregate Bond ETF
AGG
$139B
$15.2M 0.58%
151,570
– –
SHM icon
35
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.48B
$15.2M 0.58%
314,202
– –
STX icon
36
Seagate
STX
$178B
$15.1M 0.58%
+63,842
New +$10.9M
WMS icon
37
Advanced Drainage Systems
WMS
$11.3B
$13.9M 0.53%
100,224
-96,561
-49% -$12.7M
FLJP icon
38
Franklin FTSE Japan ETF
FLJP
$3.66B
$13.8M 0.53%
+399,037
New +$13.3M
PWR icon
39
Quanta Services
PWR
$94.3B
$13.7M 0.53%
33,062
-75,588
-70% -$29.4M
COF icon
40
Capital One
COF
$128B
$13.1M 0.5%
61,781
-29,364
-32% -$6.43M
UBER icon
41
Uber
UBER
$147B
$13.1M 0.5%
133,997
-329,428
-71% -$30.8M
VTV icon
42
Vanguard Value ETF
VTV
$186B
$12.9M 0.49%
69,120
– –
MELI icon
43
Mercado Libre
MELI
$92B
$12.3M 0.47%
5,262
-560
-10% -$1.34M
SLV icon
44
iShares Silver Trust
SLV
$27.1B
$11.5M 0.44%
270,859
– –
BAC icon
45
Bank of America
BAC
$430B
$11.4M 0.44%
221,184
-172,693
-44% -$8.42M
ANET icon
46
Arista Networks
ANET
$212B
$11.3M 0.43%
+77,364
New +$9.96M
BA icon
47
Boeing
BA
$169B
$11.2M 0.43%
+51,990
New +$11.7M
MLM icon
48
Martin Marietta Materials
MLM
$33.8B
$10.8M 0.41%
17,164
-30,851
-64% -$18.4M
EWY icon
49
iShares MSCI South Korea ETF
EWY
$19.3B
$10.6M 0.41%
132,765
+89,564
+207% +$6.67M
ORLY icon
50
O'Reilly Automotive
ORLY
$71.3B
$10.3M 0.39%
95,435
-180,072
-65% -$18.1M
1
2
3 4 5

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FBIL
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NDSIB
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ABI
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Cercano Management's Q3 2025 Portfolio in Review

As of Q3 2025, Cercano Management held 180 positions worth $2.61B, down 26% from $3.5B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Cercano Management withdrew a net $1.03B in Q3 2025, closing 29 positions and reducing 50 holdings. Its most notable exit was NV5 Global, an estimated $90.6M position sold in full.

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

Against the trend, Cercano Management opened a new position in TIC Solutions Inc worth $38.6M.

  • Cercano Management's largest Q3 2025 buy was TIC Solutions Inc: 2,902,230 shares worth $38.6M.
  • Cercano Management added most to State Street Technology Select Sector SPDR ETF in Q3 2025, an estimated $8.46M increase.
  • Cercano Management's biggest Q3 2025 reduction was Microsoft, cutting an estimated $87.5M.
  • Cercano Management fully exited NV5 Global in Q3 2025, selling an estimated $90.6M.
  • Cercano Management's ten largest holdings make up 61% of its $2.61B portfolio in Q3 2025.
  • Cercano Management opened 26 new positions and closed 29 in Q3 2025.
  • Cercano Management's portfolio value fell 26% quarter-over-quarter to $2.61B.

Based on Cercano Management's 13F filing for Q3 2025, filed 7 Nov 2025.