Cercano Management LLC 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Cercano Management LLC disclosed 148 US equity positions worth $2.6bn in its Q3 2025 13F filing. The largest position was MSFT at 12.7% of the reported book, followed by UNP and XPO. Against the Q2 2025 filing, it opened 6 new positions, added to 3 and reduced 33 among the top 50 holdings.
What did Cercano Management LLC own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | MSFT MICROSOFT CORP | Technology | 12.7% | $330.1m | 637,403 | -21% | reduced |
| 2 | UNP UNION PAC CORP | Industrials | 10.0% | $260.5m | 1,102,113 | 3% | added |
| 3 | XPO XPO INC | Industrials | 9.7% | $251.6m | 1,945,996 | -7% | reduced |
| 4 | QXO QXO INC | Industrials | 7.8% | $201.8m | 10,585,316 | -7% | reduced |
| 5 | RSP INVESCO EXCHANGE TRADED FD T | 4.6% | $118.4m | 624,081 | -20% | reduced | |
| 6 | LLY ELI LILLY & CO | Healthcare | 4.4% | $114.0m | 149,387 | -14% | reduced |
| 7 | META META PLATFORMS INC | Communication Services | 3.7% | $97.2m | 132,289 | -30% | reduced |
| 8 | NVDA NVIDIA CORPORATION | Technology | 3.7% | $95.7m | 513,079 | -33% | reduced |
| 9 | 07WA MR COOPER GROUP INC | 2.3% | $60.1m | 285,331 | -21% | reduced | |
| 10 | AMZN AMAZON COM INC | Consumer Cyclical | 2.1% | $55.2m | 251,539 | -60% | reduced |
| 11 | TIC ACUREN CORP | 1.5% | $38.6m | 2,902,230 | – | new | |
| 12 | SCHW SCHWAB CHARLES CORP | Financial Services | 1.4% | $37.3m | 390,217 | -47% | reduced |
| 13 | SPY SPDR S&P 500 ETF TR | 1.3% | $34.8m | 52,187 | -12% | reduced | |
| 14 | HYMB SPDR SERIES TRUST | 1.3% | $34.6m | 1,387,825 | 0% | held | |
| 15 | GLD SPDR GOLD TR | 1.3% | $34.2m | 96,309 | -4% | reduced | |
| 16 | QQQ INVESCO QQQ TR | 1.3% | $34.2m | 56,951 | -24% | reduced | |
| 17 | CEG CONSTELLATION ENERGY CORP | Utilities | 1.3% | $33.2m | 100,915 | -30% | reduced |
| 18 | MCO MOODYS CORP | Financial Services | 1.1% | $27.3m | 57,368 | -46% | reduced |
| 19 | UNH UNITEDHEALTH GROUP INC | Healthcare | 1.0% | $26.5m | 76,615 | -48% | reduced |
| 20 | V VISA INC | Financial Services | 1.0% | $26.3m | 77,039 | -46% | reduced |
| 21 | SPGI S&P GLOBAL INC | Financial Services | 1.0% | $25.3m | 52,035 | -45% | reduced |
| 22 | BKSY BLACKSKY TECHNOLOGY INC | 1.0% | $25.1m | 1,243,976 | 0% | held | |
| 23 | PIMCO DYNAMIC INCOME OPRNTS | 0.9% | $23.5m | 1,666,651 | 0% | held | |
| 24 | GOOGL ALPHABET INC | Communication Services | 0.8% | $21.5m | 88,536 | -29% | reduced |
| 25 | AAPL APPLE INC | Technology | 0.8% | $20.7m | 81,443 | -60% | reduced |
| 26 | XLK SELECT SECTOR SPDR TR | 0.8% | $20.6m | 73,251 | 77% | added | |
| 27 | GEV GE VERNOVA INC | Industrials | 0.8% | $20.4m | 33,199 | -46% | reduced |
| 28 | SHW SHERWIN WILLIAMS CO | Basic Materials | 0.8% | $20.0m | 57,705 | – | new |
| 29 | APO APOLLO GLOBAL MGMT INC | Financial Services | 0.8% | $19.7m | 147,599 | -46% | reduced |
| 30 | PANW PALO ALTO NETWORKS INC | Technology | 0.8% | $19.6m | 96,090 | -45% | reduced |
| 31 | EWW ISHARES INC | 0.6% | $16.3m | 239,617 | 0% | held | |
| 32 | JPM JPMORGAN CHASE & CO. | Financial Services | 0.6% | $15.6m | 49,354 | -48% | reduced |
| 33 | GOOG ALPHABET INC | Communication Services | 0.6% | $15.3m | 62,738 | -40% | reduced |
| 34 | AGG ISHARES TR | 0.6% | $15.2m | 151,570 | 0% | held | |
| 35 | SHM SPDR SERIES TRUST | 0.6% | $15.2m | 314,202 | 0% | held | |
| 36 | STX SEAGATE TECHNOLOGY HLDNGS PL | Technology | 0.6% | $15.1m | 63,842 | – | new |
| 37 | WMS ADVANCED DRAIN SYS INC DEL | Industrials | 0.5% | $13.9m | 100,224 | -49% | reduced |
| 38 | FLJP FRANKLIN TEMPLETON ETF TR | 0.5% | $13.8m | 399,037 | – | new | |
| 39 | PWR QUANTA SVCS INC | Industrials | 0.5% | $13.7m | 33,062 | -70% | reduced |
| 40 | COF CAPITAL ONE FINL CORP | Financial Services | 0.5% | $13.1m | 61,781 | -32% | reduced |
| 41 | UBER UBER TECHNOLOGIES INC | Technology | 0.5% | $13.1m | 133,997 | -71% | reduced |
| 42 | VTV VANGUARD INDEX FDS | 0.5% | $12.9m | 69,120 | 0% | held | |
| 43 | MELI MERCADOLIBRE INC | Consumer Cyclical | 0.5% | $12.3m | 5,262 | -10% | reduced |
| 44 | SLV ISHARES SILVER TR | 0.4% | $11.5m | 270,859 | 0% | held | |
| 45 | BAC BANK AMERICA CORP | Financial Services | 0.4% | $11.4m | 221,184 | -44% | reduced |
| 46 | ANET ARISTA NETWORKS INC | Technology | 0.4% | $11.3m | 77,364 | – | new |
| 47 | BA BOEING CO | Industrials | 0.4% | $11.2m | 51,990 | – | new |
| 48 | MLM MARTIN MARIETTA MATLS INC | Basic Materials | 0.4% | $10.8m | 17,164 | -64% | reduced |
| 49 | EWY ISHARES INC | 0.4% | $10.6m | 132,765 | 207% | added | |
| 50 | ORLY OREILLY AUTOMOTIVE INC | Consumer Cyclical | 0.4% | $10.3m | 95,435 | -65% | 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.