Q2 2025 · 13F-HR
Cercano Management LLCholdings as filed
Filed 2025-08-08 · accession 0001062993-25-013989
$3.50B
Reported value
154
Positions
2025-06-30
Period end
The Brief · Cercano Management LLC · Q2 2025
AI · grounded in 13F
Cercano Management LLC established a new position in MSFT valued at $402.3M. The fund also initiated new stakes in XPO for $264.6M and UNP for $246.1M. Other new additions include QXO at $245.7M and RSP at $142.6M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | MICROSOFT CORP | $402.3M | 11.5% | 808,865 | Common | SOLE |
| 983793100 | XPO | XPO INC | $264.6M | 7.55% | 2,094,841 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $246.1M | 7.02% | 1,069,783 | Common | SOLE |
| 82846H405 | QXO | QXO INC | $245.7M | 7.01% | 11,405,248 | Common | SOLE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD T | $142.6M | 4.07% | 784,408 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $139.1M | 3.97% | 188,471 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $138.8M | 3.96% | 632,662 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $135.5M | 3.87% | 173,783 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $120.5M | 3.44% | 762,910 | Common | SOLE |
| 62945V109 | NVEEUSD | NV5 GLOBAL INC | $90.6M | 2.59% | 3,925,599 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $67.5M | 1.93% | 740,267 | Common | SOLE |
| 62482R107 | 07WA | MR COOPER GROUP INC | $53.7M | 1.53% | 359,803 | Common | SOLE |
| 615369105 | MCO | MOODYS CORP | $52.8M | 1.51% | 105,287 | Common | SOLE |
| 92826C839 | V | VISA INC | $50.8M | 1.45% | 143,181 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $50.3M | 1.43% | 95,348 | Common | SOLE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $48.3M | 1.38% | 358,568 | Common | SOLE |
| 21037T109 | CEG | CONSTELLATION ENERGY CORP | $46.5M | 1.33% | 144,005 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $46.0M | 1.31% | 147,508 | Common | SOLE |
| 90353T100 | UBER | UBER TECHNOLOGIES INC | $43.2M | 1.23% | 463,425 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $41.7M | 1.19% | 203,207 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $41.4M | 1.18% | 75,066 | Common | SOLE |
| 74762E102 | QURE | QUANTA SVCS INC | $41.1M | 1.17% | 108,650 | Common | SOLE |
| 03769M106 | APO | APOLLO GLOBAL MGMT INC | $38.6M | 1.10% | 272,049 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $36.8M | 1.05% | 59,481 | Common | SOLE |
| 697435105 | PANW | PALO ALTO NETWORKS INC | $35.6M | 1.02% | 174,028 | Common | SOLE |
| 78464A284 | HYMB | SPDR SERIES TRUST | $34.4M | 0.98% | 1,387,825 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC | $32.2M | 0.92% | 60,920 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $30.6M | 0.87% | 100,346 | Common | SOLE |
| 009158106 | APD | AIR PRODS & CHEMS INC | $29.8M | 0.85% | 105,548 | Common | SOLE |
| G0403H108 | AON | AON PLC | $29.7M | 0.85% | 83,237 | Common | SOLE |
| 855244109 | SBUX | STARBUCKS CORP | $28.4M | 0.81% | 309,466 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $27.3M | 0.78% | 94,073 | Common | SOLE |
| 573284106 | MLM | MARTIN MARIETTA MATLS INC | $26.4M | 0.75% | 48,015 | Common | SOLE |
| 233051432 | HYLB | DBX ETF TR | $26.1M | 0.74% | 706,147 | Common | SOLE |
| 09263B207 | BKSY | BLACKSKY TECHNOLOGY INC | $25.6M | 0.73% | 1,243,976 | Common | SOLE |
| 67103H107 | ORLY | OREILLY AUTOMOTIVE INC | $24.8M | 0.71% | 275,507 | Common | SOLE |
| M6191J100 | FROG | JFROG LTD | $22.9M | 0.65% | 521,809 | Common | SOLE |
| 81369Y308 | XLP | SELECT SECTOR SPDR TR | $22.8M | 0.65% | 281,233 | Common | SOLE |
| 00790R104 | WMS | ADVANCED DRAIN SYS INC DEL | $22.6M | 0.64% | 196,785 | Common | SOLE |
| 69355M107 | PDO | PIMCO DYNAMIC INCOME OPRNTS | $22.5M | 0.64% | 1,666,651 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $21.9M | 0.63% | 124,387 | Common | SOLE |
| 81369Y886 | XLU | SELECT SECTOR SPDR TR | $20.0M | 0.57% | 244,801 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $19.4M | 0.55% | 91,145 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $18.7M | 0.53% | 105,230 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $18.6M | 0.53% | 393,877 | Common | SOLE |
| 02043Q107 | ALNY | ALNYLAM PHARMACEUTICALS INC | $18.6M | 0.53% | 56,953 | Common | SOLE |
| 957638109 | WAL | WESTERN ALLIANCE BANCORP | $17.4M | 0.50% | 223,329 | Common | SOLE |
| 24703L202 | DELL | DELL TECHNOLOGIES INC | $16.8M | 0.48% | 137,152 | Common | SOLE |
| 247361702 | DAL | DELTA AIR LINES INC DEL | $16.6M | 0.47% | 338,267 | Common | SOLE |
| 666807102 | NOC | NORTHROP GRUMMAN CORP | $16.6M | 0.47% | 33,120 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $15.2M | 0.43% | 5,822 | Common | SOLE |
| 464287226 | AGG | ISHARES TR | $15.0M | 0.43% | 151,570 | Common | SOLE |
| 78468R739 | SHM | SPDR SERIES TRUST | $15.0M | 0.43% | 314,202 | Common | SOLE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $14.6M | 0.42% | 26,834 | Common | SOLE |
| 464286822 | EWW | ISHARES INC | $14.5M | 0.41% | 239,617 | Common | SOLE |
| 778296103 | ROST | ROSS STORES INC | $13.8M | 0.39% | 107,845 | Common | SOLE |
| 45841N107 | IBKR | INTERACTIVE BROKERS GROUP IN | $13.8M | 0.39% | 248,179 | Common | SOLE |
| G4124C109 | GRAB | GRAB HOLDINGS LIMITED | $13.3M | 0.38% | 2,643,417 | Common | SOLE |
| 09581B103 | OWL | BLUE OWL CAPITAL INC | $12.5M | 0.36% | 648,965 | Common | SOLE |
| 922908744 | VTV | VANGUARD INDEX FDS | $12.2M | 0.35% | 69,120 | Common | SOLE |
| 81369Y803 | XLK | SELECT SECTOR SPDR TR | $10.5M | 0.30% | 41,312 | Common | SOLE |
| 87256C101 | TKO | TKO GROUP HOLDINGS INC | $9.8M | 0.28% | 53,678 | Common | SOLE |
| 78468R788 | SPYD | SPDR SERIES TRUST | $9.2M | 0.26% | 217,913 | Common | SOLE |
| 46428Q109 | SLV | ISHARES SILVER TR | $8.9M | 0.25% | 270,859 | Common | SOLE |
| 24823R105 | DNLI | DENALI THERAPEUTICS INC | $8.7M | 0.25% | 625,000 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $7.2M | 0.20% | 117,140 | Common | SOLE |
| 81369Y506 | XLE | SELECT SECTOR SPDR TR | $6.3M | 0.18% | 74,336 | Common | SOLE |
| 53626N102 | LION | LIONSGATE STUDIOS CORP | $5.7M | 0.16% | 973,567 | Common | SOLE |
| 63909J108 | NAUT | NAUTILUS BIOTECHNOLOGY INC | $5.2M | 0.15% | 7,172,985 | Common | SOLE |
| 58155Q103 | MCK | MCKESSON CORP | $4.9M | 0.14% | 6,717 | Common | SOLE |
| 72201R866 | MUNI | PIMCO ETF TR | $4.0M | 0.11% | 77,034 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $3.9M | 0.11% | 18,137 | Common | SOLE |
| 29273V100 | ET | ENERGY TRANSFER L P | $3.8M | 0.11% | 209,295 | Common | SOLE |
| 464285204 | IAU | ISHARES GOLD TR | $3.7M | 0.11% | 59,869 | Common | SOLE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $3.7M | 0.11% | 120,021 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $3.5M | 0.10% | 12,877 | Common | SOLE |
| Y41053102 | INSW | INTERNATIONAL SEAWAYS INC | $3.3M | 0.09% | 90,265 | Common | SOLE |
| 464286772 | EWY | ISHARES INC | $3.1M | 0.09% | 43,201 | Common | SOLE |
| 87266M107 | TRTX | TPG RE FIN TR INC | $3.1M | 0.09% | 401,607 | Common | SOLE |
| 46429B598 | INDA | ISHARES TR | $2.6M | 0.07% | 46,470 | Common | SOLE |
| 80013R206 | AYS1 | SANDSTORM GOLD LTD | $2.5M | 0.07% | 266,435 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $2.2M | 0.06% | 3,941 | Common | SOLE |
| 464287812 | IYK | ISHARES TR | $2.1M | 0.06% | 29,967 | Common | SOLE |
| 402635502 | GPOR | GULFPORT ENERGY CORP | $1.9M | 0.05% | 9,571 | Common | SOLE |
| 85571B105 | STWD | STARWOOD PPTY TR INC | $1.6M | 0.05% | 79,029 | Common | SOLE |
| 726503105 | PAA | PLAINS ALL AMERN PIPELINE L | $1.6M | 0.04% | 85,192 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $1.4M | 0.04% | 2,574 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $1.4M | 0.04% | 1,033 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $1.3M | 0.04% | 13,635 | Common | SOLE |
| Y2990R101 | HAFN | HAFNIA LTD | $1.3M | 0.04% | 264,379 | Common | SOLE |
| 959802109 | WU | WESTERN UN CO | $1.3M | 0.04% | 149,869 | Common | SOLE |
| 78464A672 | SPTI | SPDR SERIES TRUST | $1.0M | 0.03% | 35,199 | Common | SOLE |
| 88160R101 | TSLA | TESLA INC | $968,228 | 0.03% | 3,048 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $910,324 | 0.03% | 2,550 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $890,935 | 0.03% | 2,430 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR INC | $846,298 | 0.02% | 2,180 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH CORP | $833,230 | 0.02% | 8,560 | Common | SOLE |
| 882508104 | TXN | TEXAS INSTRS INC | $739,750 | 0.02% | 3,563 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $704,837 | 0.02% | 712 | Common | SOLE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $680,615 | 0.02% | 4,272 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $665,019 | 0.02% | 1,369 | Common | SOLE |
| G8994E103 | TT | TRANE TECHNOLOGIES PLC | $663,551 | 0.02% | 1,517 | Common | SOLE |
| 101137107 | BSX | BOSTON SCIENTIFIC CORP | $592,581 | 0.02% | 5,517 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $566,469 | 0.02% | 7,156 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $546,275 | 0.02% | 1,412 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATLS INC | $530,171 | 0.02% | 2,896 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $497,605 | 0.01% | 4,616 | Common | SOLE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $489,968 | 0.01% | 3,566 | Common | SOLE |
| 461202103 | INTU | INTUIT | $487,543 | 0.01% | 619 | Common | SOLE |
| 48251W104 | KKR | KKR & CO INC | $473,587 | 0.01% | 3,560 | Common | SOLE |
| 464287234 | EEM | ISHARES TR | $458,280 | 0.01% | 9,500 | Common | SOLE |
| 438516106 | HON | HONEYWELL INTL INC | $442,472 | 0.01% | 1,900 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $441,483 | 0.01% | 2,424 | Common | SOLE |
| 452308109 | ITW | ILLINOIS TOOL WKS INC | $412,908 | 0.01% | 1,670 | Common | SOLE |
| 617446448 | MS | MORGAN STANLEY | $396,098 | 0.01% | 2,812 | Common | SOLE |
| 26884L109 | EQT | EQT CORP | $380,130 | 0.01% | 6,518 | Common | SOLE |
| 40412C101 | HCA | HCA HEALTHCARE INC | $371,607 | 0.01% | 970 | Common | SOLE |
| 629377508 | NRG | NRG ENERGY INC | $368,531 | 0.01% | 2,295 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $354,578 | 0.01% | 2,607 | Common | SOLE |
| 92532F100 | VRTX | VERTEX PHARMACEUTICALS INC | $347,256 | 0.01% | 780 | Common | SOLE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $346,525 | 0.01% | 2,542 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY INC | $334,882 | 0.01% | 4,824 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $332,074 | 0.01% | 1,789 | Common | SOLE |
| 75960P104 | RELY | REMITLY GLOBAL INC | $314,735 | 0.01% | 16,768 | Common | SOLE |
| 651639106 | NEM | NEWMONT CORP | $298,175 | 0.01% | 5,118 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $294,044 | 0.01% | 1,925 | Common | SOLE |
| 92276F100 | VTR | VENTAS INC | $291,122 | 0.01% | 4,610 | Common | SOLE |
| 00206R102 | T | AT&T INC | $290,326 | 0.01% | 10,032 | Common | SOLE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $273,632 | 0.01% | 1,069 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $270,842 | 0.01% | 927 | Common | SOLE |
| 95040Q104 | WELL | WELLTOWER INC | $266,875 | 0.01% | 1,736 | Common | SOLE |
| 16119P108 | CHTR | CHARTER COMMUNICATIONS INC N | $260,003 | 0.01% | 636 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $259,836 | 0.01% | 6,005 | Common | SOLE |
| 889478103 | TOL | TOLL BROTHERS INC | $240,472 | 0.01% | 2,107 | Common | SOLE |
| 863667101 | SYK | STRYKER CORPORATION | $236,587 | 0.01% | 598 | Common | SOLE |
| 744320102 | PRU | PRUDENTIAL FINL INC | $235,938 | 0.01% | 2,196 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP | $233,290 | 0.01% | 3,382 | Common | SOLE |
| 82846H955 | QXO | QXO INC | $226,200 | 0.01% | 116,000 | PUT | SOLE |
| 539830109 | LMT | LOCKHEED MARTIN CORP | $225,086 | 0.01% | 486 | Common | SOLE |
| 020002101 | ALL | ALLSTATE CORP | $225,065 | 0.01% | 1,118 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $215,299 | 0.01% | 531 | Common | SOLE |
| 50212V100 | LPLA | LPL FINL HLDGS INC | $213,733 | 0.01% | 570 | Common | SOLE |
| 191216100 | KO | COCA COLA CO | $206,024 | 0.01% | 2,912 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $204,993 | 0.01% | 1,660 | Common | SOLE |
| 42250P103 | DOC | HEALTHPEAK PROPERTIES INC | $203,606 | 0.01% | 11,628 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYS INC | $202,312 | 0.01% | 2,916 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $201,902 | 0.01% | 910 | Common | SOLE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $201,040 | 0.01% | 682 | Common | SOLE |
| 126408903 | CSX | CSX CORP | $94,875 | 0.00% | 165,000 | CALL | SOLE |
| 46333X108 | IRWD | IRONWOOD PHARMACEUTICALS INC | $72,708 | 0.00% | 101,378 | Common | SOLE |
| 02079K955 | GOOGL | ALPHABET INC | $31,928 | 0.00% | 193,500 | PUT | SOLE |
| 67103H957 | — | OREILLY AUTOMOTIVE INC | $21,000 | 0.00% | 120,000 | PUT | SOLE |
| 79466L952 | CRM | SALESFORCE INC | $9,020 | 0.00% | 41,000 | PUT | SOLE |
| 62482R957 | — | MR COOPER GROUP INC | $1,400 | 0.00% | 28,000 | PUT | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.