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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
MSFT icon
1
Microsoft
MSFT
$3.45T
$358M 10.53%
954,335
-142,881
-13% -$58.3M
UNP icon
2
Union Pacific
UNP
$174B
$253M 7.43%
1,069,783
– –
XPO icon
3
XPO
XPO
$23.6B
$232M 6.83%
2,159,973
-141,514
-6% -$18M
RSP icon
4
Invesco S&P 500 Equal Weight ETF
RSP
$97B
$139M 4.08%
800,864
-666,040
-45% -$118M
META icon
5
Meta Platforms (Facebook)
META
$1.42T
$132M 3.88%
229,413
+627
+0.3% +$405K
XLV icon
6
State Street Health Care Select Sector SPDR ETF
XLV
$41.9B
$130M 3.83%
892,458
+307,702
+53% +$44.7M
COOP
7
DELISTED
Mr. Cooper
COOP
$102M 3.01%
855,308
+64,555
+8% +$6.74M
NVDA icon
8
NVIDIA
NVDA
$4.86T
$97.4M 2.86%
899,052
+231,657
+35% +$29.4M
V icon
9
Visa
V
$684B
$91M 2.67%
259,580
– –
AMZN icon
10
Amazon
AMZN
$2.92T
$90.7M 2.66%
476,494
-228,635
-32% -$49.6M
SCHW
11
Charles Schwab
SCHW
$183B
$88.9M 2.61%
1,135,480
– –
QXO
12
QXO Inc
QXO
$13.8B
$88.9M 2.61%
6,564,550
– –
MCO icon
13
Moody's
MCO
$82.8B
$79.2M 2.33%
170,169
-26,577
-14% -$12.8M
SPY icon
14
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$78.9M 2.32%
141,074
-7,627
-5% -$4.48M
UNH icon
15
UnitedHealth
UNH
$376B
$78.1M 2.29%
149,044
+9,207
+7% +$4.71M
NVEE
16
DELISTED
NV5 Global
NVEE
$75.6M 2.22%
3,925,599
– –
SPGI icon
17
S&P Global
SPGI
$121B
$64.7M 1.9%
127,294
– –
UBER icon
18
Uber
UBER
$143B
$62.6M 1.84%
859,813
+2,105
+0.2% +$152K
AAPL icon
19
Apple
AAPL
$4.54T
$61.3M 1.8%
275,799
+78,404
+40% +$18.2M
GOOG icon
20
Alphabet (Google) Class C
GOOG
$4.36T
$54.7M 1.61%
350,272
-55,286
-14% -$10.1M
APD icon
21
Air Products & Chemicals
APD
$65.7B
$54.6M 1.61%
+185,296
New +$57.1M
GOOGL icon
22
Alphabet (Google) Class A
GOOGL
$4.36T
$45.8M 1.35%
296,063
+32,178
+12% +$5.84M
SBUX icon
23
Starbucks
SBUX
$120B
$41.8M 1.23%
425,653
+128,445
+43% +$13.3M
APO icon
24
Apollo Global Management
APO
$72.4B
$40.8M 1.2%
297,985
– –
TDG icon
25
TransDigm Group
TDG
$70.2B
$40.7M 1.2%
29,419
-1,370
-4% -$1.83M
1
2 3 4 5

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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.