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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
+18.93%
1 Year Est. Return
+30.12%
3 Year Est. Return
+102.51%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$3.5B
AUM Growth
+$101M
Cap. Flow
-$272M
Cap. Flow %
-7.77%
Top 10 Hldgs %
54.95%
Holding
175
New
27
Increased
10
Reduced
52
Closed
21

Top Buys

Rank Stock Value
1
LLY icon
Eli Lilly
LLY
+$134M
2
QXO
QXO Inc
QXO
+$79.5M
3
CEG icon
Constellation Energy
CEG
+$38.1M
4
QQQ icon
Invesco QQQ Trust
QQQ
+$37.3M
5
AMZN icon
Amazon
AMZN
+$30.9M

Top Sells

Rank Stock Value
1
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$72.1M
2
COOP
Mr. Cooper
COOP
+$63.5M
3
MSFT icon
Microsoft
MSFT
+$63.2M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$46.6M
5
TDG icon
TransDigm Group
TDG
+$40.7M

Sector Composition

Rank Sector Weight
1 Industrials 28.73%
2 Technology 20.09%
3 Financials 13.05%
4 Healthcare 6.77%
5 Consumer Discretionary 6.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MELI icon
51
Mercado Libre
MELI
$92B
$15.2M 0.43%
+5,822
New +$13.6M
AGG icon
52
iShares Core US Aggregate Bond ETF
AGG
$139B
$15M 0.43%
151,570
– –
SHM icon
53
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.48B
$15M 0.43%
314,202
– –
ISRG icon
54
Intuitive Surgical
ISRG
$122B
$14.6M 0.42%
26,834
-4,629
-15% -$2.42M
EWW icon
55
iShares MSCI Mexico ETF
EWW
$1.87B
$14.5M 0.41%
+239,617
New +$13.8M
ROST icon
56
Ross Stores
ROST
$74.9B
$13.8M 0.39%
107,845
-2,748
-2% -$381K
IBKR icon
57
Interactive Brokers
IBKR
$40.3B
$13.8M 0.39%
248,179
-100,593
-29% -$4.77M
GRAB icon
58
Grab
GRAB
$14.6B
$13.3M 0.38%
2,643,417
-2,643,416
-50% -$12.3M
OWL icon
59
Blue Owl Capital
OWL
$6.43B
$12.5M 0.36%
648,965
-234,320
-27% -$4.33M
VTV icon
60
Vanguard Value ETF
VTV
$186B
$12.2M 0.35%
69,120
– –
XLK icon
61
State Street Technology Select Sector SPDR ETF
XLK
$114B
$10.5M 0.3%
+82,624
New +$9.17M
TKO icon
62
TKO Group
TKO
$13.9B
$9.77M 0.28%
53,678
-21,417
-29% -$3.44M
SPYD icon
63
State Street SPDR Portfolio S&P 500 High Dividend ETF
SPYD
$7.62B
$9.25M 0.26%
217,913
– –
SLV icon
64
iShares Silver Trust
SLV
$27.1B
$8.89M 0.25%
270,859
-117,644
-30% -$3.6M
DNLI icon
65
Denali Therapeutics
DNLI
$3.7B
$8.74M 0.25%
625,000
– –
IBIT icon
66
iShares Bitcoin Trust
IBIT
$47B
$7.17M 0.2%
117,140
– –
XLE icon
67
State Street Energy Select Sector SPDR ETF
XLE
$38.2B
$6.3M 0.18%
148,672
-170,948
-53% -$7.12M
LION icon
68
Lionsgate Studios
LION
$4.03B
$5.66M 0.16%
973,567
-10,200
-1% -$68.2K
NAUT icon
69
Nautilus Biotechnolgy
NAUT
$221M
$5.2M 0.15%
7,172,985
– –
MCK icon
70
McKesson
MCK
$98.5B
$4.92M 0.14%
6,717
– –
MUNI icon
71
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
MUNI
$3.07B
$3.96M 0.11%
77,034
+19,551
+34% +$998K
IWM icon
72
iShares Russell 2000 ETF
IWM
$82.2B
$3.91M 0.11%
18,137
-13,147
-42% -$2.65M
ET icon
73
Energy Transfer Partners
ET
$69.9B
$3.79M 0.11%
209,295
– –
IAU icon
74
iShares Gold Trust
IAU
$62.4B
$3.73M 0.11%
59,869
– –
EPD icon
75
Enterprise Products Partners
EPD
$82.6B
$3.72M 0.11%
120,021
– –
1 2
3
4 5

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Cercano Management's Q2 2025 Portfolio in Review

As of Q2 2025, Cercano Management held 175 positions worth $3.5B, up 3% from $3.4B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Cercano Management withdrew a net $272M in Q2 2025, closing 21 positions and reducing 52 holdings. Its most notable exit was TransDigm Group, an estimated $40.7M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 29% of assets, up from 24% a quarter earlier, followed by Technology and Financials.

Against the trend, Cercano Management opened a new position in Constellation Energy worth $46.5M.

  • Cercano Management's largest Q2 2025 buy was Constellation Energy: 144,005 shares worth $46.5M.
  • Cercano Management added most to Eli Lilly in Q2 2025, an estimated $134M increase.
  • Cercano Management's biggest Q2 2025 reduction was State Street Health Care Select Sector SPDR ETF, cutting an estimated $72.1M.
  • Cercano Management fully exited TransDigm Group in Q2 2025, selling an estimated $40.7M.
  • Cercano Management's ten largest holdings make up 55% of its $3.5B portfolio in Q2 2025.
  • Cercano Management opened 27 new positions and closed 21 in Q2 2025.
  • Cercano Management's portfolio value rose 3% quarter-over-quarter to $3.5B.

Based on Cercano Management's 13F filing for Q2 2025, filed 8 Aug 2025.