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Portfolio (Quarterly) Guide ↗

Cercano Management LLC

· CIK 0001936416
13F Portfolio $2.6B AUM 171 positions Filed Feb 10, 2026 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 19 New 22 Added 14 Reduced 24 Exited
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 MSFT MICROSOFT CORP Technology 542,736.0 $294.6M 11.15% -95K -14.8% $542.88 -21.6%
2 LLY ELI LILLY & CO Healthcare 142,454.0 $153.1M 5.79% -7K -4.6% $1074.68 -7.7%
3 RSP INVESCO EXCHANGE TRADED FD T 534,478.0 $102.4M 3.87% -90K -14.4% $191.56 +5.0%
4 QQQ INVESCO QQQ TR Financial Services 48,739.0 $29.9M 1.13% -8K -14.4% $614.31 +14.3%
5 AAPL APPLE INC Technology 64,847.0 $17.6M 0.67% -17K -20.4% $271.86 +10.1%
6 XLV SELECT SECTOR SPDR TR 51,519.0 $8.0M 0.30% -7K -12.4% $154.80 -6.2%
7 BLDR BUILDERS FIRSTSOURCE INC Industrials 51,128.0 $5.3M 0.20% -9K -15.2% $102.89 -34.7%
8 GPOR GULFPORT ENERGY CORP Energy 2,819.0 $586K 0.02% -8K -74.2% $207.99 -10.5%
9 MELI MERCADOLIBRE INC Consumer Cyclical 199.0 $401K 0.01% -5K -96.2% $2014.26 -21.6%
10 ISRG INTUITIVE SURGICAL INC Healthcare 621.0 $352K 0.01% -9K -93.3% $566.36 -21.9%
11 EXPE EXPEDIA GROUP INC Consumer Cyclical 1,154.0 $327K 0.01% -114.0 -9.0% $283.31 -24.4%
12 PM PHILIP MORRIS INTL INC Consumer Defensive 1,847.0 $296K 0.01% -577.0 -23.8% $160.40 +18.1%
13 NOC NORTHROP GRUMMAN CORP Industrials 437.0 $249K 0.01% -10K -95.9% $570.21 -3.1%
14 CVS CVS HEALTH CORP Healthcare 3,119.0 $248K 0.01% -263.0 -7.8% $79.36 +19.2%

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Industrials 36.0%
Technology 22.7%
Financial Services 14.0%
Healthcare 10.4%
Communication Services 6.5%
Consumer Cyclical 3.4%
Utilities 2.5%
Basic Materials 2.5%
Consumer Defensive 1.0%
Energy 0.6%