Cercano Management LLC 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Cercano Management LLC disclosed 148 US equity positions worth $3.5bn in its Q2 2025 13F filing. The largest position was MSFT at 11.5% of the reported book, followed by XPO and UNP. Against the Q1 2025 filing, it opened 9 new positions, added to 7 and reduced 29 among the top 50 holdings.
What did Cercano Management LLC own in Q2 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | MSFT MICROSOFT CORP | Technology | 11.5% | $402.3m | 808,865 | -15% | reduced |
| 2 | XPO XPO INC | Industrials | 7.5% | $264.6m | 2,094,841 | -3% | reduced |
| 3 | UNP UNION PAC CORP | Industrials | 7.0% | $246.1m | 1,069,783 | 0% | held |
| 4 | QXO QXO INC | Industrials | 7.0% | $245.7m | 11,405,248 | 74% | added |
| 5 | RSP INVESCO EXCHANGE TRADED FD T | 4.1% | $142.6m | 784,408 | -2% | reduced | |
| 6 | META META PLATFORMS INC | Communication Services | 4.0% | $139.1m | 188,471 | -18% | reduced |
| 7 | AMZN AMAZON COM INC | Consumer Cyclical | 4.0% | $138.8m | 632,662 | 33% | added |
| 8 | LLY ELI LILLY & CO | Healthcare | 3.9% | $135.5m | 173,783 | 15627% | added |
| 9 | NVDA NVIDIA CORPORATION | Technology | 3.4% | $120.5m | 762,910 | -15% | reduced |
| 10 | NVEEUSD NV5 GLOBAL INC | 2.6% | $90.6m | 3,925,599 | 0% | held | |
| 11 | SCHW SCHWAB CHARLES CORP | Financial Services | 1.9% | $67.5m | 740,267 | -35% | reduced |
| 12 | 07WA MR COOPER GROUP INC | 1.5% | $53.7m | 359,803 | -58% | reduced | |
| 13 | MCO MOODYS CORP | Financial Services | 1.5% | $52.8m | 105,287 | -38% | reduced |
| 14 | V VISA INC | Financial Services | 1.5% | $50.8m | 143,181 | -45% | reduced |
| 15 | SPGI S&P GLOBAL INC | Financial Services | 1.4% | $50.3m | 95,348 | -25% | reduced |
| 16 | XLV SELECT SECTOR SPDR TR | 1.4% | $48.3m | 358,568 | -60% | reduced | |
| 17 | CEG CONSTELLATION ENERGY CORP | Utilities | 1.3% | $46.5m | 144,005 | – | new |
| 18 | UNH UNITEDHEALTH GROUP INC | Healthcare | 1.3% | $46.0m | 147,508 | -1% | reduced |
| 19 | UBER UBER TECHNOLOGIES INC | Technology | 1.2% | $43.2m | 463,425 | -46% | reduced |
| 20 | AAPL APPLE INC | Technology | 1.2% | $41.7m | 203,207 | -26% | reduced |
| 21 | QQQ INVESCO QQQ TR | 1.2% | $41.4m | 75,066 | – | new | |
| 22 | PWR QUANTA SVCS INC | Industrials | 1.2% | $41.1m | 108,650 | -22% | reduced |
| 23 | APO APOLLO GLOBAL MGMT INC | Financial Services | 1.1% | $38.6m | 272,049 | -9% | reduced |
| 24 | SPY SPDR S&P 500 ETF TR | 1.0% | $36.8m | 59,481 | -58% | reduced | |
| 25 | PANW PALO ALTO NETWORKS INC | Technology | 1.0% | $35.6m | 174,028 | -19% | reduced |
| 26 | HYMB SPDR SERIES TRUST | 1.0% | $34.4m | 1,387,825 | 0% | held | |
| 27 | GEV GE VERNOVA INC | Industrials | 0.9% | $32.2m | 60,920 | – | new |
| 28 | GLD SPDR GOLD TR | 0.9% | $30.6m | 100,346 | -2% | reduced | |
| 29 | APD AIR PRODS & CHEMS INC | Basic Materials | 0.8% | $29.8m | 105,548 | -43% | reduced |
| 30 | AON AON PLC | Financial Services | 0.8% | $29.7m | 83,237 | – | new |
| 31 | SBUX STARBUCKS CORP | Consumer Cyclical | 0.8% | $28.4m | 309,466 | -27% | reduced |
| 32 | JPM JPMORGAN CHASE & CO. | Financial Services | 0.8% | $27.3m | 94,073 | – | new |
| 33 | MLM MARTIN MARIETTA MATLS INC | Basic Materials | 0.8% | $26.4m | 48,015 | -25% | reduced |
| 34 | HYLB DBX ETF TR | 0.7% | $26.1m | 706,147 | 0% | held | |
| 35 | BKSY BLACKSKY TECHNOLOGY INC | 0.7% | $25.6m | 1,243,976 | 0% | held | |
| 36 | ORLY OREILLY AUTOMOTIVE INC | Consumer Cyclical | 0.7% | $24.8m | 275,507 | 129246% | added |
| 37 | FROG JFROG LTD | Technology | 0.7% | $22.9m | 521,809 | -22% | reduced |
| 38 | XLP SELECT SECTOR SPDR TR | 0.6% | $22.8m | 281,233 | -29% | reduced | |
| 39 | WMS ADVANCED DRAIN SYS INC DEL | Industrials | 0.6% | $22.6m | 196,785 | -21% | reduced |
| 40 | PIMCO DYNAMIC INCOME OPRNTS | 0.6% | $22.5m | 1,666,651 | 22% | added | |
| 41 | GOOGL ALPHABET INC | Communication Services | 0.6% | $21.9m | 124,387 | -58% | reduced |
| 42 | XLU SELECT SECTOR SPDR TR | 0.6% | $20.0m | 244,801 | -29% | reduced | |
| 43 | COF CAPITAL ONE FINL CORP | Financial Services | 0.6% | $19.4m | 91,145 | – | new |
| 44 | GOOG ALPHABET INC | Communication Services | 0.5% | $18.7m | 105,230 | -70% | reduced |
| 45 | BAC BANK AMERICA CORP | Financial Services | 0.5% | $18.6m | 393,877 | 1711% | added |
| 46 | ALNY ALNYLAM PHARMACEUTICALS INC | Healthcare | 0.5% | $18.6m | 56,953 | 174% | added |
| 47 | WAL WESTERN ALLIANCE BANCORP | Financial Services | 0.5% | $17.4m | 223,329 | – | new |
| 48 | DELL DELL TECHNOLOGIES INC | Technology | 0.5% | $16.8m | 137,152 | – | new |
| 49 | DAL DELTA AIR LINES INC DEL | Industrials | 0.5% | $16.6m | 338,267 | – | new |
| 50 | NOC NORTHROP GRUMMAN CORP | Industrials | 0.5% | $16.6m | 33,120 | -57% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.