2026 Q2 Portfolio Activity
In 2026 Q2, Cercano Management LLC maintained a portfolio of 178 distinct positions. The most significant new addition was US BANCORP, now representing 26.96% of the total fund value. They heavily accumulated shares in SELECT SECTOR SPDR TR, increasing the position by 12481.0%. The fund also reduced its exposure to MICROSOFT CORP by 98.9%.
Position History
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Total Positions
178
Quarter
2026 Q2
Top Holding
USB (27.0%)
Top 10 Concentration
72.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 178
Cercano Management LLC Full Holdings List — 2026 Q2
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
USB
US BANCORP
|
Financial Services | 26.96% | — |
#1
Prev: #—
|
9.5 |
—
|
1,028,382 | — |
NEW
|
1,028,382 | $279,719,904 |
$60.40
+7.9%
|
2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | ||
|
UNP
UNION PAC CORP
|
Industrials | 26.96% | 11.01% |
#2
1
Prev: #1
|
6.0 |
—
|
-22,441 | -2.1% |
P
S
|
1,028,382 | $279,719,904 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
RSP
INVESCO EXCHANG...
|
Unknown | 4.53% | 6.14% |
#3
1
Prev: #4
|
2.8 |
—
|
-520,370 | -70.2% |
P
S
|
221,055 | $47,033,872 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
META
META PLATFORMS ...
|
Communication Services | 4.30% | 3.72% |
#4
4
Prev: #8
|
2.2 |
—
|
-71,217 | -47.3% |
P
S
|
79,237 | $44,633,410 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BKSY
BLACKSKY TECHNO...
|
Industrials | 2.51% | 1.35% |
#5
11
Prev: #16
|
1.5 |
—
|
-310,994 | -25.0% |
P
S
|
932,982 | $26,048,857 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
NVDA
NVIDIA CORPORAT...
|
Technology | 1.69% | 4.70% |
#6
Prev: #6
|
0.7 |
—
|
-535,855 | -85.9% |
P
S
|
87,813 | $17,570,503 | 2023 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
XLE
SELECT SECTOR S...
|
ETF | 1.60% | 0.39% |
#7
43
Prev: #50
|
0.6 |
—
|
-61,737 | -41.5% |
P
S
|
86,935 | $16,562,856 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
DNLI
DENALI THERAPEU...
|
Healthcare | 1.55% | 0.52% |
#8
35
Prev: #43
|
1.6 |
—
|
no change | no change |
P
S
|
625,000 | $16,075,000 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
VTR
VENTAS INC
|
Real Estate | 1.45% | 0.02% |
#9
97
Prev: #106
|
3.6 |
—
|
64,510 | 1399.3% |
P
S
|
69,120 | $15,063,322 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
NAUT
NAUTILUS BIOTEC...
|
Healthcare | 1.29% | 1.20% |
#10
9
Prev: #19
|
1.5 |
—
|
no change | no change |
P
S
|
7,172,985 | $13,413,482 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 1.28% | 2.59% |
#11
2
Prev: #9
|
0.5 |
—
|
-232,571 | -80.7% |
P
S
|
55,622 | $13,256,948 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
PDO
PIMCO DYNAMIC I...
|
Financial Services | 1.00% | — |
#12
Prev: #—
|
3.9 |
—
|
783,312 | — |
NEW
|
783,312 | $10,355,385 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AAPL
APPLE INC
|
Technology | 0.87% | 0.70% |
#13
26
Prev: #39
|
0.3 |
—
|
-32,773 | -51.3% |
P
S
|
31,112 | $9,002,568 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
N/A
JAMES HARDIE IN...
|
|
Unknown | 0.85% | 0.16% |
#14
58
Prev: #72
|
3.3 |
—
|
147,907 | 77.6% |
P
S
|
338,568 | $8,863,710 | — | 13F Filing | 2026-06-30 | 2026-08-13 | ||
|
EWY
ISHARES INC
|
ETF | 0.84% | 0.71% |
#15
23
Prev: #38
|
0.3 |
—
|
-89,564 | -67.5% |
P
S
|
43,201 | $8,722,282 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MDY
STATE STR SPDR ...
|
Unknown | 0.80% | — |
#16
Prev: #—
|
3.8 |
—
|
174,939 | — |
NEW
|
174,939 | $8,346,340 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SHW
SHERWIN WILLIAM...
|
Basic Materials | 0.80% | 0.68% |
#17
23
Prev: #40
|
3.3 |
—
|
433,692 | 881.8% |
P
S
|
482,875 | $8,344,080 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
XLV
SELECT SECTOR S...
|
ETF | 0.76% | 0.89% |
#18
13
Prev: #31
|
2.3 |
—
|
7,796 | 5.5% |
P
S
|
148,672 | $7,895,970 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MU
MICRON TECHNOLO...
|
Technology | 0.75% | — |
#20
Prev: #—
|
3.8 |
—
|
6,704 | — |
NEW
|
6,704 | $7,738,361 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 0.75% | 9.72% |
#19
17
Prev: #2
|
0.3 |
—
|
-601,621 | -98.9% |
P
S
|
6,704 | $7,738,361 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SPY
STATE STR SPDR ...
|
ETF | 0.70% | 1.57% |
#21
9
Prev: #12
|
0.3 |
—
|
-46,128 | -82.7% |
P
S
|
9,660 | $7,213,798 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 0.65% | 1.10% |
#22
Prev: #22
|
0.3 |
—
|
-69,911 | -78.6% |
P
S
|
18,993 | $6,787,528 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
LRCX
LAM RESEARCH CO...
|
Technology | 0.63% | 0.66% |
#23
18
Prev: #41
|
0.3 |
—
|
-56,421 | -78.9% |
P
S
|
15,110 | $6,547,617 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
LLY
ELI LILLY & CO
|
Healthcare | 0.62% | 5.46% |
#24
19
Prev: #5
|
0.2 |
—
|
-132,024 | -96.1% |
P
S
|
5,353 | $6,420,549 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
COF
CAPITAL ONE FIN...
|
Financial Services | 0.61% | 1.37% |
#25
10
Prev: #15
|
0.2 |
—
|
-142,219 | -81.9% |
P
S
|
31,409 | $6,301,274 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
GRAB
GRAB HOLDINGS L...
|
Technology | 0.58% | 0.25% |
#26
34
Prev: #60
|
1.2 |
—
|
no change | no change |
P
S
|
1,600,000 | $6,032,000 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
XPO
XPO INC
|
Industrials | 0.58% | 6.35% |
#27
24
Prev: #3
|
0.2 |
—
|
-727,455 | -96.2% |
P
S
|
29,081 | $5,970,038 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
VMC
VULCAN MATLS CO
|
Basic Materials | 0.54% | — |
#29
Prev: #—
|
3.7 |
—
|
18,998 | — |
NEW
|
18,998 | $5,604,600 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
V
VISA INC
|
Financial Services | 0.54% | 1.01% |
#28
2
Prev: #26
|
0.2 |
—
|
-58,440 | -75.5% |
P
S
|
18,998 | $5,604,600 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
INSW
INTERNATIONAL S...
|
Energy | 0.54% | 0.23% |
#30
31
Prev: #61
|
1.2 |
—
|
no change | no change |
P
S
|
73,147 | $5,602,329 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
IWM
ISHARES TR
|
ETF | 0.53% | 0.19% |
#31
37
Prev: #68
|
1.2 |
—
|
no change | no change |
P
S
|
18,137 | $5,449,262 | 2023 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
EWW
ISHARES INC
|
ETF | 0.46% | 0.78% |
#32
2
Prev: #34
|
0.2 |
—
|
-175,717 | -73.3% |
P
S
|
63,900 | $4,809,753 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AVGO
BROADCOM INC
|
Technology | 0.45% | 0.16% |
#33
38
Prev: #71
|
1.2 |
—
|
no change | no change |
P
S
|
12,325 | $4,655,769 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
GOOG
ALPHABET INC
|
Communication Services | 0.45% | 1.09% |
#34
11
Prev: #23
|
0.2 |
—
|
-74,593 | -85.0% |
P
S
|
13,160 | $4,649,823 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SCHW
SCHWAB CHARLES ...
|
Financial Services | 0.43% | 1.58% |
#35
24
Prev: #11
|
0.2 |
—
|
-361,937 | -92.8% |
P
S
|
28,280 | $4,486,905 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
DASH
DOORDASH INC
|
Consumer Cyclical | 0.43% | — |
#36
Prev: #—
|
3.7 |
—
|
23,927 | — |
NEW
|
23,927 | $4,415,249 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
EPD
ENTERPRISE PROD...
|
Energy | 0.43% | 0.20% |
#37
29
Prev: #66
|
1.2 |
—
|
no change | no change |
P
S
|
120,021 | $4,411,972 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
EWZ
ISHARES INC
|
ETF | 0.40% | 0.72% |
#38
2
Prev: #36
|
0.2 |
—
|
-312,745 | -72.0% |
P
S
|
121,776 | $4,201,272 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
JAZZ
JAZZ PHARMACEUT...
|
Healthcare | 0.40% | — |
#39
Prev: #—
|
3.7 |
—
|
17,331 | — |
NEW
|
17,331 | $4,176,251 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
IBIT
ISHARES BITCOIN...
|
Bond/Debt | 0.38% | 0.19% |
#40
27
Prev: #67
|
1.2 |
—
|
no change | no change |
P
S
|
117,140 | $3,899,591 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
TMUS
T-MOBILE US INC
|
Communication Services | 0.32% | — |
#41
Prev: #—
|
3.6 |
—
|
401,607 | — |
NEW
|
401,607 | $3,361,451 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MUNI
PIMCO ETF TR
|
Bond/Debt | 0.29% | 0.13% |
#42
33
Prev: #75
|
1.1 |
—
|
no change | no change |
P
S
|
57,919 | $3,046,539 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BAC
BANK OF AMER CO...
|
Financial Services | 0.26% | 0.31% |
#43
13
Prev: #56
|
0.1 |
—
|
-102,390 | -68.5% |
P
S
|
47,170 | $2,687,747 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
PWR
QUANTA SVCS INC
|
Industrials | 0.26% | 0.77% |
#44
9
Prev: #35
|
0.1 |
—
|
-28,975 | -88.7% |
P
S
|
3,690 | $2,656,947 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 0.25% | 0.36% |
#45
6
Prev: #51
|
0.1 |
—
|
-20,363 | -71.7% |
P
S
|
8,022 | $2,625,842 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
XBI
SPDR SERIES TRU...
|
Unknown | 0.25% | — |
#46
Prev: #—
|
3.6 |
—
|
3,636 | — |
NEW
|
3,636 | $2,557,344 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
COST
COSTCO WHOLESAL...
|
Consumer Defensive | 0.22% | 0.46% |
#47
3
Prev: #44
|
0.1 |
—
|
-8,138 | -76.6% |
P
S
|
2,490 | $2,329,321 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CAT
CATERPILLAR INC
|
Industrials | 0.22% | 0.07% |
#48
33
Prev: #81
|
1.1 |
—
|
no change | no change |
P
S
|
2,180 | $2,321,482 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
INDA
ISHARES TR
|
ETF | 0.22% | 0.09% |
#49
28
Prev: #77
|
1.1 |
—
|
no change | no change |
P
S
|
46,470 | $2,295,153 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
WEC
WEC ENERGY GROU...
|
Utilities | 0.22% | — |
#50
Prev: #—
|
3.6 |
—
|
20,219 | — |
NEW
|
20,219 | $2,290,004 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 |
Showing 1-50 of 178 holdings