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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
IBKR icon
51
Interactive Brokers
IBKR
$39.2B
$14.4M 0.42%
348,772
– –
ROST icon
52
Ross Stores
ROST
$80.5B
$14.1M 0.42%
110,593
– –
SLV icon
53
iShares Silver Trust
SLV
$28B
$12M 0.35%
388,503
-356,820
-48% -$10.4M
VTV icon
54
Vanguard Morningstar Value ETF
VTV
$188B
$11.9M 0.35%
69,120
– –
TKO icon
55
TKO Group
TKO
$13.6B
$11.5M 0.34%
75,095
– –
JAZZ icon
56
Jazz Pharmaceuticals
JAZZ
$15.9B
$11M 0.32%
88,389
-23,981
-21% -$3.13M
SPYD icon
57
State Street SPDR Portfolio S&P 500 High Dividend ETF
SPYD
$7.62B
$9.64M 0.28%
217,913
– –
BKSY icon
58
BlackSky Technology
BKSY
$943M
$9.62M 0.28%
1,243,976
– –
DNLI icon
59
Denali Therapeutics
DNLI
$3.65B
$8.5M 0.25%
625,000
– –
RELY icon
60
Remitly
RELY
$4.79B
$7.91M 0.23%
380,087
– –
LION icon
61
Lionsgate Studios
LION
$3.95B
$7.35M 0.22%
983,767
– –
IWM icon
62
iShares Russell 2000 ETF
IWM
$79.8B
$6.24M 0.18%
31,284
– –
NAUT icon
63
Nautilus Biotechnolgy
NAUT
$124M
$6.18M 0.18%
7,172,985
– –
ALNY icon
64
Alnylam Pharmaceuticals
ALNY
$27.5B
$5.61M 0.16%
+20,772
New +$5.34M
IBIT icon
65
iShares Bitcoin Trust
IBIT
$46.7B
$5.48M 0.16%
117,140
– –
MCK icon
66
McKesson
MCK
$100B
$4.52M 0.13%
6,717
-17,045
-72% -$10.5M
EPD icon
67
Enterprise Products Partners
EPD
$82.3B
$4.1M 0.12%
120,021
– –
VOO icon
68
Vanguard S&P 500 ETF
VOO
$979B
$4.05M 0.12%
7,883
– –
ET icon
69
Energy Transfer Partners
ET
$70.1B
$3.89M 0.11%
209,295
– –
IAU icon
70
iShares Gold Trust
IAU
$62.9B
$3.53M 0.1%
59,869
– –
TRTX
71
TPG RE Finance Trust
TRTX
$612M
$3.27M 0.1%
401,607
– –
INSW icon
72
International Seaways
INSW
$4.76B
$3.21M 0.09%
96,624
-22,461
-19% -$822K
MUNI icon
73
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
MUNI
$3.06B
$2.96M 0.09%
57,483
– –
IYK icon
74
iShares US Consumer Staples ETF
IYK
$1.4B
$2.55M 0.08%
+35,665
New +$2.42M
SAND
75
DELISTED
Sandstorm Gold
SAND
$2.39M 0.07%
317,098
-178,932
-36% -$1.12M
1 2
3
4 5

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MFAM
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NSAM
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LFM
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BAM
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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.