AI Portfolio Summary
In 2025 Q4, Cercano Management LLC maintained a portfolio of 170 distinct positions. The most significant new addition to the portfolio was LINDE PLC, which now represents 0.60% of the total fund value. They heavily accumulated shares in UNION PAC CORP, increasing their position by 2.2%. The fund also reduced its exposure to APPLE INC by 20.4%.
Total Positions
170
Quarter
2025 Q4
Top Holding
MSFT (11.1%)
Top 10 Concentration
60.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 170
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
MSFT
MICROSOFT CORP
|
Technology | 11.15% | 12.65% |
#1
Prev: #1
|
6.5 | -94,667 | -14.9% |
P
S
|
542,736 | $294,642,583 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
XPO
XPO INC
|
Industrials | 10.01% | 9.64% |
#2
1
Prev: #3
|
6.5 | no change | no change |
P
S
|
1,945,996 | $264,480,316 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
UNP
UNION PAC CORP
|
Industrials | 9.86% | 9.98% |
#3
1
Prev: #2
|
5.4 | 24,495 | 2.2% |
P
S
|
1,126,608 | $260,606,962 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
QXO
QXO INC
|
Industrials | 7.90% | 7.73% |
#4
Prev: #4
|
4.2 | 230,516 | 2.2% |
P
S
|
10,815,832 | $208,637,399 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LLY
ELI LILLY & CO
|
Healthcare | 5.79% | 4.37% |
#5
1
Prev: #6
|
3.3 | -6,933 | -4.6% |
P
S
|
142,454 | $153,092,464 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NVDA
NVIDIA CORPORAT...
|
Technology | 4.42% | 3.67% |
#6
2
Prev: #8
|
4.3 | 113,079 | 22.0% |
P
S
|
626,158 | $116,778,467 | 2023 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RSP
INVESCO EXCHANG...
|
Unknown | 3.87% | 4.54% |
#7
2
Prev: #5
|
2.0 | -89,603 | -14.4% |
P
S
|
534,478 | $102,384,606 | 2024 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
META
META PLATFORMS ...
|
Communication Services | 3.77% | 3.72% |
#8
1
Prev: #7
|
3.5 | 18,718 | 14.1% |
P
S
|
151,007 | $99,678,211 | 2023 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 2.20% | 2.12% |
#9
1
Prev: #10
|
1.9 | no change | no change |
P
S
|
251,539 | $58,060,232 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IAU
ISHARES GOLD TR
|
ETF | 1.53% | 0.17% |
#10
62
Prev: #72
|
3.6 | 437,653 | 731.0% |
P
S
|
497,522 | $40,383,861 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SCHW
SCHWAB CHARLES ...
|
Financial Services | 1.48% | 1.43% |
#11
1
Prev: #12
|
1.6 | no change | no change |
P
S
|
390,217 | $38,986,580 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SPY
SPDR S&P 500 ET...
|
ETF | 1.44% | 1.33% |
#12
1
Prev: #13
|
2.6 | 3,601 | 6.9% |
P
S
|
55,788 | $38,042,953 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CEG
CONSTELLATION E...
|
Utilities | 1.35% | 1.27% |
#13
4
Prev: #17
|
1.5 | no change | no change |
P
S
|
100,915 | $35,650,242 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PANW
PALO ALTO NETWO...
|
Technology | 1.33% | 0.75% |
#14
16
Prev: #30
|
3.5 | 94,740 | 98.6% |
P
S
|
190,830 | $35,150,886 | 2024 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
HYMB
SPDR SERIES TRU...
|
ETF | 1.31% | 1.33% |
#15
1
Prev: #14
|
1.5 | no change | no change |
P
S
|
1,387,825 | $34,612,356 | 2024 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SPEM
SPDR INDEX SHS ...
|
ETF | 1.14% | 0.06% |
#16
70
Prev: #86
|
3.5 | 609,825 | 1889.5% |
P
S
|
642,100 | $30,056,701 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
UNH
UNITEDHEALTH GR...
|
Healthcare | 1.14% | 1.01% |
#17
2
Prev: #19
|
2.5 | 14,312 | 18.7% |
P
S
|
90,927 | $30,015,912 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
QQQ
INVESCO QQQ TR
|
ETF | 1.13% | 1.31% |
#18
2
Prev: #16
|
1.0 | -8,212 | -14.4% |
P
S
|
48,739 | $29,940,855 | 2023 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TIC
TIC SOLUTIONS I...
|
Industrials | 1.11% | 1.48% |
#19
8
Prev: #11
|
1.4 | no change | no change |
P
S
|
2,902,230 | $29,341,545 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MCO
MOODYS CORP
|
Financial Services | 1.11% | 1.05% |
#20
2
Prev: #18
|
1.4 | no change | no change |
P
S
|
57,368 | $29,306,443 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 1.06% | 0.82% |
#21
3
Prev: #24
|
0.9 | 1,301 | 1.5% |
P
S
|
89,837 | $28,118,981 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SPGI
S&P GLOBAL INC
|
Financial Services | 1.03% | 0.97% |
#22
1
Prev: #21
|
1.4 | no change | no change |
P
S
|
52,035 | $27,192,971 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
V
VISA INC
|
Financial Services | 1.02% | 1.01% |
#23
3
Prev: #20
|
1.4 | no change | no change |
P
S
|
77,039 | $27,018,348 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BKSY
BLACKSKY TECHNO...
|
Industrials | 0.88% | 0.96% |
#24
2
Prev: #22
|
1.4 | no change | no change |
P
S
|
1,243,976 | $23,324,550 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
COF
CAPITAL ONE FIN...
|
Financial Services | 0.87% | 0.50% |
#25
15
Prev: #40
|
3.3 | 32,789 | 53.1% |
P
S
|
94,570 | $22,919,985 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GEV
GE VERNOVA INC
|
Industrials | 0.82% | 0.78% |
#26
1
Prev: #27
|
1.3 | no change | no change |
P
S
|
33,199 | $21,697,870 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
APO
APOLLO GLOBAL M...
|
Financial Services | 0.81% | 0.75% |
#27
2
Prev: #29
|
1.3 | no change | no change |
P
S
|
147,599 | $21,366,431 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SHW
SHERWIN WILLIAM...
|
Basic Materials | 0.81% | 0.77% |
#28
Prev: #28
|
2.3 | 8,087 | 14.0% |
P
S
|
65,792 | $21,318,582 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BA
BOEING CO
|
Industrials | 0.75% | 0.43% |
#29
18
Prev: #47
|
3.3 | 39,012 | 75.0% |
P
S
|
91,002 | $19,758,354 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GOOG
ALPHABET INC
|
Communication Services | 0.75% | 0.59% |
#30
3
Prev: #33
|
1.3 | no change | no change |
P
S
|
62,738 | $19,687,184 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AAPL
APPLE INC
|
Technology | 0.67% | 0.79% |
#31
6
Prev: #25
|
0.3 | -16,596 | -20.4% |
P
S
|
64,847 | $17,629,306 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
EWW
ISHARES INC
|
ETF | 0.63% | 0.63% |
#32
1
Prev: #31
|
1.3 | no change | no change |
P
S
|
239,617 | $16,612,647 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 0.60% | 0.60% |
#33
1
Prev: #32
|
1.2 | no change | no change |
P
S
|
49,354 | $15,902,846 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LIN
LINDE PLC
|
Basic Materials | 0.60% | — |
#34
Prev: #—
|
3.7 | 36,908 | no change |
NEW
|
36,908 | $15,737,202 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
EWZ
ISHARES INC
|
ETF | 0.59% | — |
#35
Prev: #—
|
3.7 | 490,980 | no change |
NEW
|
490,980 | $15,598,435 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AGG
ISHARES TR
|
ETF | 0.57% | 0.58% |
#36
2
Prev: #34
|
1.2 | no change | no change |
P
S
|
151,570 | $15,138,812 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SHM
SPDR SERIES TRU...
|
ETF | 0.57% | 0.58% |
#37
2
Prev: #35
|
1.2 | no change | no change |
P
S
|
314,202 | $15,078,554 | 2024 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
COST
COSTCO WHSL COR...
|
Consumer Defensive | 0.56% | 0.03% |
#38
60
Prev: #98
|
3.2 | 16,427 | 2307.2% |
P
S
|
17,139 | $14,779,645 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BSX
BOSTON SCIENTIF...
|
Healthcare | 0.56% | 0.02% |
#39
65
Prev: #104
|
3.2 | 148,414 | 2690.1% |
P
S
|
153,931 | $14,677,321 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WMS
ADVANCED DRAIN ...
|
Industrials | 0.55% | 0.53% |
#40
3
Prev: #37
|
1.2 | no change | no change |
P
S
|
100,224 | $14,515,442 | 2024 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
XLK
SELECT SECTOR S...
|
Unknown | 0.54% | 0.79% |
#41
15
Prev: #26
|
2.7 | 25,197 | 34.4% |
P
S
|
98,448 | $14,173,559 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NAUT
NAUTILUS BIOTEC...
|
Healthcare | 0.53% | 0.23% |
#42
23
Prev: #65
|
1.2 | no change | no change |
P
S
|
7,172,985 | $13,987,321 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PWR
QUANTA SVCS INC
|
Industrials | 0.53% | 0.52% |
#43
4
Prev: #39
|
1.2 | no change | no change |
P
S
|
33,062 | $13,954,148 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FLJP
FRANKLIN TEMPLE...
|
ETF | 0.52% | 0.53% |
#44
6
Prev: #38
|
1.2 | no change | no change |
P
S
|
399,037 | $13,746,825 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VTV
VANGUARD INDEX ...
|
ETF | 0.50% | 0.49% |
#45
3
Prev: #42
|
1.2 | no change | no change |
P
S
|
69,120 | $13,201,229 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
EWY
ISHARES INC
|
ETF | 0.49% | 0.41% |
#46
3
Prev: #49
|
1.2 | no change | no change |
P
S
|
132,765 | $12,907,413 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
DHR
DANAHER CORPORA...
|
Healthcare | 0.49% | — |
#47
Prev: #—
|
3.7 | 56,232 | no change |
NEW
|
56,232 | $12,872,629 | 2023 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LRCX
LAM RESEARCH CO...
|
Technology | 0.47% | 0.04% |
#48
43
Prev: #91
|
3.2 | 63,800 | 745.3% |
P
S
|
72,360 | $12,386,585 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BAC
BANK AMERICA CO...
|
Financial Services | 0.46% | 0.44% |
#49
4
Prev: #45
|
1.2 | no change | no change |
P
S
|
221,184 | $12,165,120 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AON
AON PLC
|
Financial Services | 0.41% | — |
#50
Prev: #—
|
3.7 | 30,352 | no change |
NEW
|
30,352 | $10,710,614 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-50 of 170 holdings