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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
MTDR icon
176
Matador Resources
MTDR
$6.2B
– –
-56,578
Closed -$3.18M
NBIX icon
177
Neurocrine Biosciences
NBIX
$16.8B
– –
-24,000
Closed -$3.28M
OCSL icon
178
Oaktree Specialty Lending
OCSL
$1.02B
– –
-180,413
Closed -$2.76M
OMF icon
179
OneMain Financial
OMF
$7.23B
– –
-552,320
Closed -$28.8M
ORCL icon
180
Oracle
ORCL
$374B
– –
-19,133
Closed -$3.19M
PYPL icon
181
PayPal
PYPL
$48.9B
– –
-2,665
Closed -$227K
SPSM icon
182
State Street SPDR Portfolio S&P 600 Small Cap ETF
SPSM
$17.1B
– –
-349,954
Closed -$15.7M
SRLN icon
183
State Street Blackstone Senior Loan ETF
SRLN
$5.3B
– –
-71,523
Closed -$2.98M
STRL icon
184
Sterling Infrastructure
STRL
$18.3B
– –
-144,965
Closed -$24.4M
TBT icon
185
ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT
$304M
– –
-135,916
Closed -$4.98M
TCPC icon
186
BlackRock TCP Capital
TCPC
$273M
– –
-148,400
Closed -$1.29M
TMUS icon
187
T-Mobile US
TMUS
$185B
– –
-47,003
Closed -$10.4M
TSM icon
188
TSMC
TSM
$2.1T
– –
-220,931
Closed -$43.6M
V icon
189
CALL
Visa
V
$684B
– –
-595
Closed -$2.71M
WAL icon
190
Western Alliance Bancorporation
WAL
$8.79B
– –
-212,027
Closed -$17.7M
WLK icon
191
Westlake Corp
WLK
$9.03B
– –
-1,978
Closed -$227K
XTN icon
192
State Street SPDR S&P Transportation ETF
XTN
$387M
– –
-85,434
Closed -$7.41M
ZETA icon
193
Zeta Global
ZETA
$5.38B
– –
-860,202
Closed -$15.5M
4 5 6 7
8

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NDSIB
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ABI
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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.