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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
+3.61%
1 Year Est. Return
+30.12%
3 Year Est. Return
+102.51%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.64B
AUM Growth
+$32.7M
Cap. Flow
-$52.4M
Cap. Flow %
-1.98%
Top 10 Hldgs %
60.5%
Holding
170
New
19
Increased
19
Reduced
16
Closed
24

Top Buys

Rank Stock Value
1
IAU icon
iShares Gold Trust
IAU
+$34.2M
2
SPEM icon
State Street SPDR Portfolio Emerging Markets ETF
SPEM
+$28.7M
3
NVDA icon
NVIDIA
NVDA
+$21M
4
PANW icon
Palo Alto Networks
PANW
+$19.1M
5
LIN icon
Linde
LIN
+$15.8M

Top Sells

Rank Stock Value
1
COOP
Mr. Cooper
COOP
+$60.1M
2
MSFT icon
Microsoft
MSFT
+$47.4M
3
GLD icon
SPDR Gold Trust
GLD
+$34.2M
4
PDO
PIMCO Dynamic Income Opportunities Fund
PDO
+$23.5M
5
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$17M

Sector Composition

Rank Sector Weight
1 Industrials 33.41%
2 Technology 18.89%
3 Healthcare 9.06%
4 Financials 7.92%
5 Communication Services 5.64%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DOC icon
151
Healthpeak Properties
DOC
$15.5B
– –
-10,451
Closed -$200K
GLD icon
152
SPDR Gold Trust
GLD
$130B
– –
-96,309
Closed -$34.2M
IBKR icon
153
Interactive Brokers
IBKR
$40.3B
– –
-77,749
Closed -$5.35M
IYK icon
154
iShares US Consumer Staples ETF
IYK
$1.39B
– –
-25,446
Closed -$1.74M
JHX icon
155
James Hardie Industries
JHX
$15B
– –
-237,647
Closed -$4.57M
JNJ icon
156
CALL
Johnson & Johnson
JNJ
$609B
– –
-777
Closed -$264K
ORCL icon
157
Oracle
ORCL
$364B
– –
-926
Closed -$260K
PDO
158
PIMCO Dynamic Income Opportunities Fund
PDO
$1.88B
– –
-1,666,651
Closed -$23.5M
SAND
159
DELISTED
Sandstorm Gold
SAND
– –
-226,238
Closed -$2.83M
SLM icon
160
SLM Corp
SLM
$4.78B
– –
-20,000
Closed -$554K
SLV icon
161
iShares Silver Trust
SLV
$27.1B
– –
-270,859
Closed -$11.5M
STX icon
162
Seagate
STX
$178B
– –
-63,842
Closed -$15.1M
UBER icon
163
Uber
UBER
$147B
– –
-133,997
Closed -$13.1M
VZ icon
164
Verizon
VZ
$182B
– –
-5,193
Closed -$228K
WAL icon
165
Western Alliance Bancorporation
WAL
$8.99B
– –
-90,774
Closed -$7.87M
XLP icon
166
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.6B
– –
-65,127
Closed -$5.1M
XLU icon
167
State Street Utilities Select Sector SPDR ETF
XLU
$23.5B
– –
-113,376
Closed -$4.94M
XPO icon
168
PUT
XPO
XPO
$25.2B
– –
-2,840
Closed -$3.15M
LION icon
169
Lionsgate Studios
LION
$4.03B
– –
-973,567
Closed -$6.72M
QXO
170
PUT
QXO Inc
QXO
$14.9B
– –
-24,850
Closed -$4.65M
3 4 5 6
7

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Cercano Management's Q4 2025 Portfolio in Review

As of Q4 2025, Cercano Management held 170 positions worth $2.64B, up 1.3% from $2.61B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Cercano Management's Q4 2025 filing shows 19 new, 19 increased, 16 reduced and 24 closed positions. Its largest new stake was Linde: 36,908 shares worth $15.7M. The largest sale was Mr. Cooper, an estimated $60.1M.

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

  • Cercano Management's largest Q4 2025 buy was Linde: 36,908 shares worth $15.7M.
  • Cercano Management added most to iShares Gold Trust in Q4 2025, an estimated $34.2M increase.
  • Cercano Management's biggest Q4 2025 reduction was Microsoft, cutting an estimated $47.4M.
  • Cercano Management fully exited Mr. Cooper in Q4 2025, selling an estimated $60.1M.
  • Cercano Management's ten largest holdings make up 60% of its $2.64B portfolio in Q4 2025.
  • Cercano Management opened 19 new positions and closed 24 in Q4 2025.
  • Cercano Management's portfolio value rose 1.3% quarter-over-quarter to $2.64B.

Based on Cercano Management's 13F filing for Q4 2025, filed 10 Feb 2026.