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Cercano Management LLC

Q4 2025 · Filed 2026-02-10
Market Value
$2.6B
+2.0%
Holdings
164
-6
New Purchases
18
Added To
22
Closed
19
Reduced
14
Top 10 Concentration
60.5%
Turnover
22.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LLY 5.79% 4.40% +1.39% $153M
IAU 1.53% 0.17% +1.36% $40M
SPEM 1.14% 0.06% +1.08% $30M
NVDA 4.42% 3.70% +0.72% $117M
LIN 0.60% 0.00% +0.60% $16M
EWZ 0.59% 0.00% +0.59% $16M
PANW 1.33% 0.76% +0.58% $35M
BSX 0.56% 0.02% +0.53% $15M
COST 0.56% 0.03% +0.53% $15M
DHR 0.49% 0.00% +0.49% $13M
LRCX 0.47% 0.04% +0.42% $12M
AON 0.41% 0.00% +0.41% $11M
COF 0.87% 0.51% +0.36% $23M
BA 0.75% 0.43% +0.31% $20M
GRAB 0.30% 0.00% +0.30% $8M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
COOP 0.00% 2.32% -2.32% $0
MSFT 11.15% 12.74% -1.59% $295M
GLD 0.00% 1.32% -1.32% $0
PDO 0.00% 0.91% -0.91% $0
RSP 3.88% 4.57% -0.69% $102M
STX 0.00% 0.58% -0.58% $0
UBER 0.00% 0.51% -0.51% $0
MELI 0.02% 0.47% -0.46% $401K
SLV 0.00% 0.44% -0.44% $0
ANET 0.00% 0.44% -0.44% $0
TIC 1.11% 1.49% -0.38% $29M
WAL 0.00% 0.30% -0.30% $0
DAL 0.00% 0.28% -0.28% $0
DASH 0.00% 0.27% -0.27% $0
XLK 0.54% 0.80% -0.26% $14M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 43 $1.1B 39.9%
Large Cap 93 $1.4B 51.4%
Mid Cap 19 $151M 5.7%
Small Cap 9 $80M 3.0%

Portfolio Analytics

Avg Market Cap
$336.0B
Median Market Cap
$91.9B
Avg P/E
39.1
Median P/E
27.4
Avg Dividend Yield
0.01%
Avg Beta
1.00
# Stocks
130
# ETFs / Funds
34

Top Holdings (164 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 11.15% 542,736 $295M $542.88 -$36M -94,667 -14.8%
2 XPO 10.01% 1,945,996 $264M $135.91 $13M
3 UNP 9.86% 1,126,608 $261M $231.32 $101K +24,495 +2.2%
4 QXO 7.90% 10,815,832 $209M $19.29 $7M +230,516 +2.2%
5 LLY 5.79% 142,454 $153M $1,074.68 $39M -6,933 -4.6%
6 NVDA 4.42% 626,158 $117M $186.50 $21M +113,079 +22.0%
7 RSP 3.88% 534,478 $102M $191.56 -$16M -89,603 -14.4%
8 META 3.77% 151,007 $100M $660.09 $3M +18,718 +14.2%
9 AMZN 2.20% 251,539 $58M $230.82 $3M
10 IAU 1.53% 497,522 $40M $81.17 $36M +437,653 +731.0%
11 SCHW 1.48% 390,217 $39M $99.91 $2M
12 SPY 1.44% 55,788 $38M $681.92 $3M +3,601 +6.9%
13 CEG 1.35% 100,915 $36M $353.27 $2M
14 PANW 1.33% 190,830 $35M $184.20 $16M +94,740 +98.6%
15 HYMB 1.31% 1,387,825 $35M $24.94 $14K
16 SPEM 1.14% 642,100 $30M $46.81 $29M +609,825 +1889.5%
17 UNH 1.14% 90,927 $30M $330.11 $4M +14,312 +18.7%
18 QQQ 1.13% 48,739 $30M $614.31 -$4M -8,212 -14.4%
19 TIC 1.11% 2,902,230 $29M $10.11 -$9M
20 MCO 1.11% 57,368 $29M $510.85 $2M
21 GOOGL 1.06% 89,837 $28M $313.00 $7M +1,301 +1.5%
22 SPGI 1.03% 52,035 $27M $522.59 $2M
23 V 1.02% 77,039 $27M $350.71 $719K
24 BKSY 0.88% 1,243,976 $23M $18.75 -$2M
25 COF 0.87% 94,570 $23M $242.36 $10M +32,789 +53.1%
26 GEV 0.82% 33,199 $22M $653.57 $1M
27 APO 0.81% 147,599 $21M $144.76 $2M
28 SHW 0.81% 65,792 $21M $324.03 $1M +8,087 +14.0%
29 BA 0.75% 91,002 $20M $217.12 $9M +39,012 +75.0%
30 GOOG 0.75% 62,738 $20M $313.80 $4M
31 AAPL 0.67% 64,847 $18M $271.86 -$3M -16,596 -20.4%
32 EWW 0.63% 239,617 $17M $69.33 $268K
33 JPM 0.60% 49,354 $16M $322.22 $335K
34 LIN 0.60% 36,908 $16M $426.39 +36,908 NEW
35 EWZ 0.59% 490,980 $16M $31.77 +490,980 NEW
36 AGG 0.57% 151,570 $15M $99.88 -$56K
37 SHM 0.57% 314,202 $15M $47.99 -$72K
38 COST 0.56% 17,139 $15M $862.34 $14M +16,427 +2307.2%
39 BSX 0.56% 153,931 $15M $95.35 $14M +148,414 +2690.1%
40 WMS 0.55% 100,224 $15M $144.83 $614K
41 XLK 0.54% 98,448 $14M $143.97 -$6M +25,197 +34.4%
42 NAUT 0.53% 7,172,985 $14M $1.95 $8M
43 PWR 0.53% 33,062 $14M $422.06 $253K
44 FLJP 0.52% 399,037 $14M $34.45 -$44K
45 VTV 0.50% 69,120 $13M $190.99 $311K
46 EWY 0.49% 132,765 $13M $97.22 $2M
47 DHR 0.49% 56,232 $13M $228.92 +56,232 NEW
48 LRCX 0.47% 72,360 $12M $171.18 $11M +63,800 +745.3%
49 BAC 0.46% 221,184 $12M $55.00 $754K
50 AON 0.41% 30,352 $11M $352.88 +30,352 NEW
51 MLM 0.40% 17,164 $11M $622.66 -$131K
52 DNLI 0.39% 625,000 $10M $16.51 $1M
53 SPYD 0.36% 217,913 $9M $43.25 -$163K
54 LPX 0.35% 115,410 $9M $80.76 -$933K
55 ORLY 0.33% 95,435 $9M $91.21 -$2M
56 FLKR 0.32% 263,694 $8M $32.05 $1M
57 HD 0.31% 23,874 $8M $344.10 $7M +21,444 +882.5%
58 GRAB 0.30% 1,600,000 $8M $4.99 +1,600,000 NEW
59 XLV 0.30% 51,519 $8M $154.80 -$214K -7,321 -12.4%
60 WMT 0.29% 69,379 $8M $111.41 $6M +55,744 +408.8%
61 COPX 0.29% 107,493 $8M $71.79 +107,493 NEW
62 DELL 0.26% 54,087 $7M $125.88 -$859K
63 XLE 0.25% 148,672 $7M $44.71 $6K +74,336 +100.0%
64 URI 0.23% 7,458 $6M $809.32 $6M +7,248 +3451.4%
65 IBIT 0.22% 117,140 $6M $49.65 -$2M
66 BLDR 0.20% 51,128 $5M $102.89 -$2M -9,172 -15.2%
67 IWM 0.17% 18,137 $4M $246.16 $76K
68 AVGO 0.17% 12,877 $4M $346.10 $208K
69 INSW 0.16% 85,219 $4M $48.55 +85,219 NEW
70 EPD 0.15% 120,021 $4M $32.06 $95K
71 SPLG 0.14% 45,151 $4M $80.22 $85K
72 TRTX 0.13% 401,607 $3M $8.61 $20K
73 MUNI 0.11% 57,919 $3M $52.41 $8K
74 INDA 0.10% 46,470 $3M $54.05 $92K
75 VOO 0.09% 3,941 $2M $627.13 $58K
76 MA 0.06% 2,574 $1M $570.88 $5K
77 WMB 0.05% 23,863 $1M $60.11 +23,863 NEW
78 HAFN 0.05% 264,379 $1M $5.39 +264,379 NEW
79 STWD 0.05% 79,029 $1M $18.01 -$107K
80 TSLA 0.05% 3,048 $1M $449.72 $15K
81 PSX 0.05% 10,522 $1M $129.04 +10,522 NEW
82 CAT 0.05% 2,180 $1M $572.87 $209K
83 CGIC 0.04% 32,733 $1M $32.50 $55K
84 SPTI 0.04% 35,199 $1M $28.84 -$2K
85 NFLX 0.04% 10,330 $969K $93.76 -$270K +9,297 +900.0%
86 ETN 0.03% 2,550 $812K $318.51 -$142K
87 MRK 0.03% 7,156 $753K $105.26 $153K
88 AMAT 0.03% 2,896 $744K $256.99 $151K
89 BRK-B 0.03% 1,369 $688K $502.65 -$123
90 TXN 0.02% 3,563 $618K $173.49 -$36K
91 PG 0.02% 4,272 $612K $143.31 -$44K
92 TT 0.02% 1,517 $590K $389.20 +1,517 NEW
93 GPOR 0.02% 2,819 $586K $207.99 -$1M -8,127 -74.2%
94 FANG 0.02% 3,566 $536K $150.33 $26K
95 NEM 0.02% 5,118 $511K $99.85 $80K
96 XLC 0.02% 4,267 $502K $117.72 -$3K
97 MS 0.02% 2,812 $499K $177.53 $52K
98 ADBE 0.02% 1,412 $494K $349.99 -$4K
99 KKR 0.02% 3,560 $454K $127.48 -$9K
100 HCA 0.02% 970 $453K $466.86 $39K

New Positions

SymbolValue% Port
LIN $16M 0.60%
EWZ $16M 0.59%
DHR $13M 0.49%
AON $11M 0.41%
GRAB $8M 0.30%
COPX $8M 0.29%
INSW $4M 0.16%
WMB $1M 0.05%
HAFN $1M 0.05%
PSX $1M 0.05%
TT $590K 0.02%
FI $293K 0.01%
CSGP $245K 0.01%
HAL $228K 0.01%
JLL $212K 0.01%

Sold Out Positions

SymbolValue% Port
SLM —%
ANET —%
PDO —%
VZ —%
WAL —%
DOC —%
DAL —%
IBKR —%
DASH —%
UBER —%
IYK —%
GLD —%
STX —%
SLV —%
XLU —%
View SEC EDGAR Filings for Cercano Management LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms