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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
MSFT icon
1
Microsoft
MSFT
$2.93T
$295M 11.15%
542,736
-94,667
-15% -$47.4M
XPO icon
2
XPO
XPO
$25.2B
$264M 10.01%
1,945,996
– –
UNP icon
3
Union Pacific
UNP
$179B
$261M 9.86%
1,126,608
+24,495
+2% +$5.59M
QXO
4
QXO Inc
QXO
$14.9B
$209M 7.9%
10,815,832
+230,516
+2% +$4.42M
LLY icon
5
Eli Lilly
LLY
$1.05T
$153M 5.79%
142,454
-6,933
-5% -$6.63M
NVDA icon
6
NVIDIA
NVDA
$4.91T
$117M 4.42%
626,158
+113,079
+22% +$21M
RSP icon
7
Invesco S&P 500 Equal Weight ETF
RSP
$96.4B
$102M 3.87%
534,478
-89,603
-14% -$17M
META icon
8
Meta Platforms (Facebook)
META
$1.64T
$99.7M 3.77%
151,007
+18,718
+14% +$12.5M
AMZN icon
9
Amazon
AMZN
$2.66T
$58.1M 2.2%
251,539
– –
IAU icon
10
iShares Gold Trust
IAU
$62.4B
$40.4M 1.53%
497,522
+437,653
+731% +$34.2M
SCHW
11
Charles Schwab
SCHW
$177B
$39M 1.48%
390,217
– –
SPY icon
12
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$38M 1.44%
55,788
+3,601
+7% +$2.43M
CEG icon
13
Constellation Energy
CEG
$90.1B
$35.7M 1.35%
100,915
– –
PANW icon
14
Palo Alto Networks
PANW
$292B
$35.2M 1.33%
190,830
+94,740
+99% +$19.1M
HYMB icon
15
State Street SPDR Nuveen ICE High Yield Municipal Bond ETF
HYMB
$3.08B
$34.6M 1.31%
1,387,825
– –
SPEM icon
16
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$16.9B
$30.1M 1.14%
642,100
+609,825
+1,889% +$28.7M
UNH icon
17
UnitedHealth
UNH
$387B
$30M 1.14%
90,927
+14,312
+19% +$4.85M
QQQ icon
18
Invesco QQQ Trust
QQQ
$466B
$29.9M 1.13%
48,739
-8,212
-14% -$5.04M
TIC
19
TIC Solutions Inc
TIC
$1.51B
$29.3M 1.11%
2,902,230
– –
MCO icon
20
Moody's
MCO
$89.2B
$29.3M 1.11%
57,368
– –
GOOGL icon
21
Alphabet (Google) Class A
GOOGL
$4.23T
$28.1M 1.06%
89,837
+1,301
+1% +$372K
SPGI icon
22
S&P Global
SPGI
$133B
$27.2M 1.03%
52,035
– –
V icon
23
Visa
V
$682B
$27M 1.02%
77,039
– –
BKSY icon
24
BlackSky Technology
BKSY
$823M
$23.3M 0.88%
1,243,976
– –
COF icon
25
Capital One
COF
$128B
$22.9M 0.87%
94,570
+32,789
+53% +$7.3M
1
2 3 4 5

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NDSIB
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ABI
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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.