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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
Page 1 of 8  ·  146 positions
# 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 XPO XPO INC Industrials 1,945,996.0 $264.5M 10.01% $135.91 +46.1%
3 UNP UNION PAC CORP Industrials 1,126,608.0 $260.6M 9.86% +24K +2.2% $231.32 +17.5%
4 QXO QXO INC Industrials 10,815,832.0 $208.6M 7.89% +231K +2.2% $19.29 -18.5%
5 LLY ELI LILLY & CO Healthcare 142,454.0 $153.1M 5.79% -7K -4.6% $1074.68 -7.7%
6 NVDA NVIDIA CORPORATION Technology 626,158.0 $116.8M 4.42% +113K +22.0% $186.50 +18.5%
7 RSP INVESCO EXCHANGE TRADED FD T 534,478.0 $102.4M 3.87% -90K -14.4% $191.56 +5.0%
8 META META PLATFORMS INC Communication Services 151,007.0 $99.7M 3.77% +19K +14.2% $660.09 -7.8%
9 AMZN AMAZON COM INC Consumer Cyclical 251,539.0 $58.1M 2.20% $230.82 +12.9%
10 IAU ISHARES GOLD TR Financial Services 497,522.0 $40.4M 1.53% +438K +731.0% $81.17 +3.6%
11 SCHW SCHWAB CHARLES CORP Financial Services 390,217.0 $39.0M 1.48% $99.91 -7.9%
12 SPY SPDR S&P 500 ETF TR Financial Services 55,788.0 $38.0M 1.44% +4K +6.9% $681.92 +7.7%
13 CEG CONSTELLATION ENERGY CORP Utilities 100,915.0 $35.7M 1.35% $353.27 -26.7%
14 PANW PALO ALTO NETWORKS INC Technology 190,830.0 $35.2M 1.33% +95K +98.6% $184.20 +32.2%
15 HYMB SPDR SERIES TRUST 1,387,825.0 $34.6M 1.31% $24.94 -0.8%
16 SPEM SPDR INDEX SHS FDS 642,100.0 $30.1M 1.14% +610K +1889.5% $46.81 +7.7%
17 UNH UNITEDHEALTH GROUP INC Healthcare 90,927.0 $30.0M 1.14% +14K +18.7% $330.11 +17.9%
18 QQQ INVESCO QQQ TR Financial Services 48,739.0 $29.9M 1.13% -8K -14.4% $614.31 +14.3%
19 TIC TIC SOLUTIONS INC Industrials 2,902,230.0 $29.3M 1.11% $10.11 -7.0%
20 MCO MOODYS CORP Financial Services 57,368.0 $29.3M 1.11% $510.85 -13.8%
Page 1 of 8  ·  146 positions

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%