Q4 2025 · 13F-HR
Cercano Management LLCholdings as filed
Filed 2026-02-10 · accession 0001062993-26-000745
$2.64B
Reported value
146
Positions
2025-12-31
Period end
The Brief · Cercano Management LLC · Q4 2025
AI · grounded in 13F
Cercano Management LLC exited its position in 07WA with a reduction of $60.1M. The fund also closed positions in GLD and PDO, totaling $34.2M and $23.5M respectively. New positions were established in LIN for $15.7M and EWZ for $15.6M. Additionally, the fund increased its holdings in NVDA by 22.0%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | MICROSOFT CORP | $294.6M | 11.1% | 542,736 | Common | SOLE |
| 983793100 | XPO | XPO INC | $264.5M | 10.0% | 1,945,996 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $260.6M | 9.86% | 1,126,608 | Common | SOLE |
| 82846H405 | QXO | QXO INC | $208.6M | 7.90% | 10,815,832 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $153.1M | 5.79% | 142,454 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $116.8M | 4.42% | 626,158 | Common | SOLE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD T | $102.4M | 3.87% | 534,478 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $99.7M | 3.77% | 151,007 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $58.1M | 2.20% | 251,539 | Common | SOLE |
| 464285204 | IAU | ISHARES GOLD TR | $40.4M | 1.53% | 497,522 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $39.0M | 1.48% | 390,217 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $38.0M | 1.44% | 55,788 | Common | SOLE |
| 21037T109 | CEG | CONSTELLATION ENERGY CORP | $35.7M | 1.35% | 100,915 | Common | SOLE |
| 697435105 | PANW | PALO ALTO NETWORKS INC | $35.2M | 1.33% | 190,830 | Common | SOLE |
| 78464A284 | HYMB | SPDR SERIES TRUST | $34.6M | 1.31% | 1,387,825 | Common | SOLE |
| 78463X509 | SPEM | SPDR INDEX SHS FDS | $30.1M | 1.14% | 642,100 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $30.0M | 1.14% | 90,927 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $29.9M | 1.13% | 48,739 | Common | SOLE |
| 00510N102 | TIC | TIC SOLUTIONS INC | $29.3M | 1.11% | 2,902,230 | Common | SOLE |
| 615369105 | MCO | MOODYS CORP | $29.3M | 1.11% | 57,368 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $28.1M | 1.06% | 89,837 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $27.2M | 1.03% | 52,035 | Common | SOLE |
| 92826C839 | V | VISA INC | $27.0M | 1.02% | 77,039 | Common | SOLE |
| 09263B207 | BKSY | BLACKSKY TECHNOLOGY INC | $23.3M | 0.88% | 1,243,976 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $22.9M | 0.87% | 94,570 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC | $21.7M | 0.82% | 33,199 | Common | SOLE |
| 03769M106 | APO | APOLLO GLOBAL MGMT INC | $21.4M | 0.81% | 147,599 | Common | SOLE |
| 824348106 | SHW | SHERWIN WILLIAMS CO | $21.3M | 0.81% | 65,792 | Common | SOLE |
| 097023105 | BA | BOEING CO | $19.8M | 0.75% | 91,002 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $19.7M | 0.75% | 62,738 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $17.6M | 0.67% | 64,847 | Common | SOLE |
| 464286822 | EWW | ISHARES INC | $16.6M | 0.63% | 239,617 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $15.9M | 0.60% | 49,354 | Common | SOLE |
| G54950103 | LIN | LINDE PLC | $15.7M | 0.60% | 36,908 | Common | SOLE |
| 464286400 | EWZ | ISHARES INC | $15.6M | 0.59% | 490,980 | Common | SOLE |
| 464287226 | AGG | ISHARES TR | $15.1M | 0.57% | 151,570 | Common | SOLE |
| 78468R739 | SHM | SPDR SERIES TRUST | $15.1M | 0.57% | 314,202 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $14.8M | 0.56% | 17,139 | Common | SOLE |
| 101137107 | BSX | BOSTON SCIENTIFIC CORP | $14.7M | 0.56% | 153,931 | Common | SOLE |
| 00790R104 | WMS | ADVANCED DRAIN SYS INC DEL | $14.5M | 0.55% | 100,224 | Common | SOLE |
| 81369Y803 | XLK | SELECT SECTOR SPDR TR | $14.2M | 0.54% | 98,448 | Common | SOLE |
| 63909J108 | NAUT | NAUTILUS BIOTECHNOLOGY INC | $14.0M | 0.53% | 7,172,985 | Common | SOLE |
| 74762E102 | QURE | QUANTA SVCS INC | $14.0M | 0.53% | 33,062 | Common | SOLE |
| 35473P744 | FLJP | FRANKLIN TEMPLETON ETF TR | $13.7M | 0.52% | 399,037 | Common | SOLE |
| 922908744 | VTV | VANGUARD INDEX FDS | $13.2M | 0.50% | 69,120 | Common | SOLE |
| 464286772 | EWY | ISHARES INC | $12.9M | 0.49% | 132,765 | Common | SOLE |
| 235851102 | DHR | DANAHER CORPORATION | $12.9M | 0.49% | 56,232 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH CORP | $12.4M | 0.47% | 72,360 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $12.2M | 0.46% | 221,184 | Common | SOLE |
| G0403H108 | AON | AON PLC | $10.7M | 0.41% | 30,352 | Common | SOLE |
| 573284106 | MLM | MARTIN MARIETTA MATLS INC | $10.7M | 0.40% | 17,164 | Common | SOLE |
| 24823R105 | DNLI | DENALI THERAPEUTICS INC | $10.3M | 0.39% | 625,000 | Common | SOLE |
| 78468R788 | SPYD | SPDR SERIES TRUST | $9.4M | 0.36% | 217,913 | Common | SOLE |
| 546347105 | LPX | LOUISIANA PAC CORP | $9.3M | 0.35% | 115,410 | Common | SOLE |
| 67103H107 | ORLY | OREILLY AUTOMOTIVE INC | $8.7M | 0.33% | 95,435 | Common | SOLE |
| 35473P710 | FLKR | FRANKLIN TEMPLETON ETF TR | $8.5M | 0.32% | 263,694 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $8.2M | 0.31% | 23,874 | Common | SOLE |
| G4124C109 | GRAB | GRAB HOLDINGS LIMITED | $8.0M | 0.30% | 1,600,000 | Common | SOLE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $8.0M | 0.30% | 51,519 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $7.7M | 0.29% | 69,379 | Common | SOLE |
| 37954Y830 | COPX | GLOBAL X FDS | $7.7M | 0.29% | 107,493 | Common | SOLE |
| 24703L202 | DELL | DELL TECHNOLOGIES INC | $6.8M | 0.26% | 54,087 | Common | SOLE |
| 81369Y506 | XLE | SELECT SECTOR SPDR TR | $6.6M | 0.25% | 148,672 | Common | SOLE |
| 911363109 | URI | UNITED RENTALS INC | $6.0M | 0.23% | 7,458 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $5.8M | 0.22% | 117,140 | Common | SOLE |
| 12008R107 | BLDR | BUILDERS FIRSTSOURCE INC | $5.3M | 0.20% | 51,128 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $4.5M | 0.17% | 18,137 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $4.5M | 0.17% | 12,877 | Common | SOLE |
| Y41053102 | INSW | INTERNATIONAL SEAWAYS INC | $4.1M | 0.16% | 85,219 | Common | SOLE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $3.8M | 0.15% | 120,021 | Common | SOLE |
| 78464A854 | SPYM | SPDR SERIES TRUST | $3.6M | 0.14% | 45,151 | Common | SOLE |
| 87266M107 | TRTX | TPG RE FIN TR INC | $3.5M | 0.13% | 401,607 | Common | SOLE |
| 72201R866 | MUNI | PIMCO ETF TR | $3.0M | 0.11% | 57,919 | Common | SOLE |
| 46429B598 | INDA | ISHARES TR | $2.5M | 0.10% | 46,470 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $2.5M | 0.09% | 3,941 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $1.5M | 0.06% | 2,574 | Common | SOLE |
| 969457100 | WMB | WILLIAMS COS INC | $1.4M | 0.05% | 23,863 | Common | SOLE |
| Y2990R101 | HAFN | HAFNIA LTD | $1.4M | 0.05% | 264,379 | Common | SOLE |
| 85571B105 | STWD | STARWOOD PPTY TR INC | $1.4M | 0.05% | 79,029 | Common | SOLE |
| 88160R101 | TSLA | TESLA INC | $1.4M | 0.05% | 3,048 | Common | SOLE |
| 718546104 | PSX | PHILLIPS 66 | $1.4M | 0.05% | 10,522 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR INC | $1.2M | 0.05% | 2,180 | Common | SOLE |
| 14021T102 | CGIC | CAPITAL GROUP INTERNATIONAL | $1.1M | 0.04% | 32,733 | Common | SOLE |
| 78464A672 | SPTI | SPDR SERIES TRUST | $1.0M | 0.04% | 35,199 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $968,541 | 0.04% | 10,330 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $812,200 | 0.03% | 2,550 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $753,241 | 0.03% | 7,156 | Common | SOLE |
| 038222105 | AMAT | APPLIED MATLS INC | $744,243 | 0.03% | 2,896 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $688,128 | 0.03% | 1,369 | Common | SOLE |
| 882508104 | TXN | TEXAS INSTRS INC | $618,145 | 0.02% | 3,563 | Common | SOLE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $612,220 | 0.02% | 4,272 | Common | SOLE |
| G8994E103 | TT | TRANE TECHNOLOGIES PLC | $590,416 | 0.02% | 1,517 | Common | SOLE |
| 402635502 | GPOR | GULFPORT ENERGY CORP | $586,324 | 0.02% | 2,819 | Common | SOLE |
| G54950903 | LIN | LINDE PLC | $586,240 | 0.02% | 256 | CALL | SOLE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $536,077 | 0.02% | 3,566 | Common | SOLE |
| 651639106 | NEM | NEWMONT CORP | $511,032 | 0.02% | 5,118 | Common | SOLE |
| 81369Y852 | XLC | SELECT SECTOR SPDR TR | $502,311 | 0.02% | 4,267 | Common | SOLE |
| 617446448 | MS | MORGAN STANLEY | $499,214 | 0.02% | 2,812 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $494,186 | 0.02% | 1,412 | Common | SOLE |
| 48251W104 | KKR | KKR & CO INC | $453,829 | 0.02% | 3,560 | Common | SOLE |
| 40412C101 | HCA | HCA HEALTHCARE INC | $452,854 | 0.02% | 970 | Common | SOLE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $451,840 | 0.02% | 2,542 | Common | SOLE |
| 452308109 | ITW | ILLINOIS TOOL WKS INC | $411,321 | 0.02% | 1,670 | Common | SOLE |
| 461202103 | INTU | INTUIT | $410,038 | 0.02% | 619 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $408,769 | 0.02% | 1,789 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $400,838 | 0.02% | 199 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $398,379 | 0.02% | 1,925 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY INC | $387,271 | 0.01% | 4,824 | Common | SOLE |
| 438516106 | HON | HONEYWELL INTL INC | $370,671 | 0.01% | 1,900 | Common | SOLE |
| 629377508 | NRG | NRG ENERGY INC | $365,456 | 0.01% | 2,295 | Common | SOLE |
| 92276F100 | VTR | VENTAS INC | $356,722 | 0.01% | 4,610 | Common | SOLE |
| 92532F100 | VRTX | VERTEX PHARMACEUTICALS INC | $353,621 | 0.01% | 780 | Common | SOLE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $351,710 | 0.01% | 621 | Common | SOLE |
| 26884L109 | EQT | EQT CORP | $349,365 | 0.01% | 6,518 | Common | SOLE |
| 46333X108 | IRWD | IRONWOOD PHARMACEUTICALS INC | $341,644 | 0.01% | 101,378 | Common | SOLE |
| 30212P303 | EXPE | EXPEDIA GROUP INC | $326,940 | 0.01% | 1,154 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $326,631 | 0.01% | 2,607 | Common | SOLE |
| 95040Q104 | WELL | WELLTOWER INC | $322,219 | 0.01% | 1,736 | Common | SOLE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $308,642 | 0.01% | 1,069 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $307,688 | 0.01% | 531 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $296,259 | 0.01% | 1,847 | Common | SOLE |
| 337738108 | FISV | FISERV INC | $293,331 | 0.01% | 4,367 | Common | SOLE |
| 889478103 | TOL | TOLL BROTHERS INC | $284,909 | 0.01% | 2,107 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $283,319 | 0.01% | 927 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $274,375 | 0.01% | 2,280 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $254,993 | 0.01% | 1,660 | Common | SOLE |
| 855244109 | SBUX | STARBUCKS CORP | $250,946 | 0.01% | 2,980 | Common | SOLE |
| 00206R102 | T | AT&T INC | $249,195 | 0.01% | 10,032 | Common | SOLE |
| 666807102 | NOC | NORTHROP GRUMMAN CORP | $249,182 | 0.01% | 437 | Common | SOLE |
| 744320102 | PRU | PRUDENTIAL FINL INC | $247,884 | 0.01% | 2,196 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP | $247,524 | 0.01% | 3,119 | Common | SOLE |
| 22160N109 | CSGP | COSTAR GROUP INC | $244,552 | 0.01% | 3,637 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE | $236,875 | 0.01% | 769 | Common | SOLE |
| 35137L105 | FOXA | FOX CORP | $235,139 | 0.01% | 3,218 | Common | SOLE |
| 539830109 | LMT | LOCKHEED MARTIN CORP | $235,064 | 0.01% | 486 | Common | SOLE |
| G1151C101 | ACN | ACCENTURE PLC IRELAND | $233,689 | 0.01% | 871 | Common | SOLE |
| 020002101 | ALL | ALLSTATE CORP | $232,712 | 0.01% | 1,118 | Common | SOLE |
| 406216101 | HAL | HALLIBURTON CO | $227,889 | 0.01% | 8,064 | Common | SOLE |
| 00846U101 | A | AGILENT TECHNOLOGIES INC | $226,693 | 0.01% | 1,666 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $219,456 | 0.01% | 910 | Common | SOLE |
| 682680103 | OKE | ONEOK INC NEW | $217,340 | 0.01% | 2,957 | Common | SOLE |
| 48020Q107 | JLL | JONES LANG LASALLE INC | $211,976 | 0.01% | 630 | Common | SOLE |
| 863667101 | SYK | STRYKER CORPORATION | $210,179 | 0.01% | 598 | Common | SOLE |
| 50212V100 | LPLA | LPL FINL HLDGS INC | $203,587 | 0.01% | 570 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $203,024 | 0.01% | 948 | Common | SOLE |
| 031162100 | AMGN | AMGEN INC | $202,932 | 0.01% | 620 | Common | 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.