Cercano Management LLC

All Holdings — 2025 Q4

Portfolio Concentration Analytics: 7.6
Risk-based ENB:
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:
1-25 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
4.5 -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
4.0 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
6.0 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
5.2 230,516 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
2.3 -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
3.8 113,079 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
1.6 -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
3.6 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
0.9 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
2.9 437,653 731.0%
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
0.6 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
0.5 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
2.8 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
0.5 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
2.8 609,825 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
0.5 -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
0.4 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
0.4 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
2.4 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
0.4 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
0.4 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
0.4 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
2.5 32,789 53.1%
P
S
94,570 $22,919,985 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
COOP
MR COOPER GROUP...
Unknown 0.00% 2.30%
Sold All 😨
(Was: #9)
0.3 -285,331 -100.0%
CLOSED
$— 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GLD
SPDR GOLD TR
ETF 0.00% 1.31%
Sold All 😨
(Was: #15)
0.3 -96,309 -100.0%
CLOSED
$— 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
PDO
PIMCO DYNAMIC I...
Financial Services 0.00% 0.90%
Sold All 😨
(Was: #23)
0.3 -1,666,651 -100.0%
CLOSED
$— 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
STX
SEAGATE TECHNOL...
Technology 0.00% 0.58%
Sold All 😨
(Was: #36)
0.3 -63,842 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
UBER
UBER TECHNOLOGI...
Technology 0.00% 0.50%
Sold All 😨
(Was: #41)
0.3 -133,997 -100.0%
CLOSED
$— 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SLV
ISHARES SILVER ...
ETF 0.00% 0.44%
Sold All 😨
(Was: #44)
0.3 -270,859 -100.0%
CLOSED
$— 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ANET
ARISTA NETWORKS...
Technology 0.00% 0.43%
Sold All 😨
(Was: #46)
0.3 -77,364 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
WAL
WESTERN ALLIANC...
Financial Services 0.00% 0.30%
Sold All 😨
(Was: #55)
0.3 -90,774 -100.0%
CLOSED
$— 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DAL
DELTA AIR LINES...
Industrials 0.00% 0.28%
Sold All 😨
(Was: #58)
0.3 -129,666 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
DASH
DOORDASH INC
Consumer Cyclical 0.00% 0.27%
Sold All 😨
(Was: #61)
0.3 -25,807 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
LION
LIONSGATE STUDI...
Unknown 0.00% 0.26%
Sold All 😨
(Was: #62)
0.3 -973,567 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
IBKR
INTERACTIVE BRO...
Financial Services 0.00% 0.20%
Sold All 😨
(Was: #66)
0.3 -77,749 -100.0%
CLOSED
$— 2023 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
XLP
SELECT SECTOR S...
Unknown 0.00% 0.20%
Sold All 😨
(Was: #67)
0.3 -65,127 -100.0%
CLOSED
$— 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
XLU
SELECT SECTOR S...
Bond/Debt 0.00% 0.19%
Sold All 😨
(Was: #68)
0.3 -56,688 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
QXO INC
PUT
PUT Option 0.00% 0.18%
Sold All 😨
(Was: #69)
0.3 -24,850 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
JAMES HARDIE IN...
Unknown 0.00% 0.17%
Sold All 😨
(Was: #70)
0.3 -237,647 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
XPO INC
PUT
PUT Option 0.00% 0.12%
Sold All 😨
(Was: #78)
0.3 -2,840 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
SAND
SANDSTORM GOLD ...
Unknown 0.00% 0.11%
Sold All 😨
(Was: #80)
0.3 -226,238 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
IYK
ISHARES TR
ETF 0.00% 0.07%
Sold All 😨
(Was: #84)
0.3 -25,446 -100.0%
CLOSED
$— 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SLM
SLM CORP
Financial Services 0.00% 0.02%
Sold All 😨
(Was: #103)
0.3 -20,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
N/A
JOHNSON & JOHNS...
CALL
CALL Option 0.00% 0.01%
Sold All 😨
(Was: #131)
0.3 -777 -100.0%
CLOSED
$— 13F Filing 2025-12-31 2026-02-14 (Est.)
ORCL
ORACLE CORP
Technology 0.00% 0.01%
Sold All 😨
(Was: #132)
0.3 -926 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
VZ
VERIZON COMMUNI...
Communication Services 0.00% 0.01%
Sold All 😨
(Was: #142)
0.3 -5,193 -100.0%
CLOSED
$— 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
DOC
HEALTHPEAK PROP...
Real Estate 0.00% 0.01%
Sold All 😨
(Was: #150)
0.3 -10,451 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 170 holdings

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