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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
(+3%)
Cap. Flow
-$272M
Cap. Flow
% of AUM
-7.77%
Top 10 Holdings %
Top 10 Hldgs %
54.95%
Holding
175
New
27
Increased
10
Reduced
52
Closed
21
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eli Lilly
LLY
|
+$134M |
| 2 |
QXO
QXO Inc
QXO
|
+$79.5M |
| 3 |
Constellation Energy
CEG
|
+$38.1M |
| 4 |
Invesco QQQ Trust
QQQ
|
+$37.3M |
| 5 |
Amazon
AMZN
|
+$30.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Health Care Select Sector SPDR ETF
XLV
|
+$72.1M |
| 2 |
COOP
Mr. Cooper
COOP
|
+$63.5M |
| 3 |
Microsoft
MSFT
|
+$63.2M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$46.6M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
1
Microsoft
MSFT
$2.93T
| $402M | 11.48% |
808,865
-145,470
| -15% | -$63.2M |
|
2
XPO
XPO
$25.2B
| $265M | 7.55% |
2,094,841
-65,132
| -3% | -$7.31M |
|
3
Union Pacific
UNP
$179B
| $246M | 7.02% |
1,069,783
| – | – |
|
|
QXO
4
QXO Inc
QXO
$14.9B
| $246M | 7.01% |
11,405,248
+4,840,698
| +74% | +$79.5M |
|
5
Invesco S&P 500 Equal Weight ETF
RSP
$96.4B
| $143M | 4.07% |
784,408
-16,456
| -2% | -$2.84M |
|
6
Meta Platforms (Facebook)
META
$1.64T
| $139M | 3.97% |
188,471
-40,942
| -18% | -$25.3M |
|
|
7
Amazon
AMZN
$2.66T
| $139M | 3.96% |
632,662
+156,168
| +33% | +$30.9M |
|
|
8
Eli Lilly
LLY
$1.05T
| $135M | 3.87% |
173,783
+172,678
| +15,627% | +$134M |
|
9
NVIDIA
NVDA
$4.91T
| $121M | 3.44% |
762,910
-136,142
| -15% | -$17.1M |
|
|
NVEE
10
DELISTED
NV5 Global
NVEE
| $90.6M | 2.59% |
3,925,599
| – | – |
|
|
SCHW
11
Charles Schwab
SCHW
$177B
| $67.5M | 1.93% |
740,267
-395,213
| -35% | -$33.1M |
|
|
COOP
12
DELISTED
Mr. Cooper
COOP
| $53.7M | 1.53% |
359,803
-495,505
| -58% | -$63.5M |
|
13
Moody's
MCO
$89.2B
| $52.8M | 1.51% |
105,287
-64,882
| -38% | -$30.1M |
|
14
Visa
V
$682B
| $50.8M | 1.45% |
143,181
-116,399
| -45% | -$40.6M |
|
15
S&P Global
SPGI
$133B
| $50.3M | 1.43% |
95,348
-31,946
| -25% | -$15.9M |
|
|
16
State Street Health Care Select Sector SPDR ETF
XLV
$41.4B
| $48.3M | 1.38% |
358,568
-533,890
| -60% | -$72.1M |
|
|
17
Constellation Energy
CEG
$90.1B
| $46.5M | 1.33% |
+144,005
| New | +$38.1M |
|
18
UnitedHealth
UNH
$387B
| $46M | 1.31% |
147,508
-1,536
| -1% | -$587K |
|
19
Uber
UBER
$147B
| $43.2M | 1.23% |
463,425
-396,388
| -46% | -$32.6M |
|
20
Apple
AAPL
$4.9T
| $41.7M | 1.19% |
203,207
-72,592
| -26% | -$14.7M |
|
|
21
Invesco QQQ Trust
QQQ
$466B
| $41.4M | 1.18% |
+75,066
| New | +$37.3M |
|
22
Quanta Services
PWR
$94.3B
| $41.1M | 1.17% |
108,650
-31,469
| -22% | -$10.1M |
|
23
Apollo Global Management
APO
$69.5B
| $38.6M | 1.1% |
272,049
-25,936
| -9% | -$3.44M |
|
|
24
State Street SPDR S&P 500 ETF Trust
SPY
$774B
| $36.8M | 1.05% |
59,481
-81,593
| -58% | -$46.6M |
|
25
Palo Alto Networks
PANW
$292B
| $35.6M | 1.02% |
174,028
-39,551
| -19% | -$7.34M |
|
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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.