Cercano Management LLC

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Institutional

CIK 0001936416

$2.32B

Reported AUM

141

Positions

Q1 2026

Period

2026-05-13

Filed

The Brief · Cercano Management LLC · Q1 2026

AI · grounded in 13F

Cercano Management LLC closed its position in PANW, reducing its exposure by $35.15M. The fund established a new position in VNQ worth $9.42M. Other notable activity includes increasing shares of NFLX by 5,886.7% and BLDR by 655.5%.

Portfolio · Q1 2026

Top holdings

#	Stock	Issuer	Price	Day %	1Y Gr.	5Y Gr.	Value	% of book	Δ shares (QoQ)	Status
1	UNP	UNION PAC CORP	$292.19	-0.77%	36.18%	50.11%	$255.0M	11.01%	—	HELD
2	MSFT	MICROSOFT CORP	$390.54	-0.71%	-24.89%	34.54%	$225.2M	9.72%	—	HELD
3	XPO	XPO INC	$199.38	-2.61%	67.35%	284.95%	$147.2M	6.35%	—	HELD
4	RSP	INVESCO EXCHANGE TRADED FD T	$215.73	-0.90%	21.73%	51.17%	$142.3M	6.14%	—	HELD
5	LLY	ELI LILLY & CO	$1210.02	-0.87%	61.25%	393.83%	$126.4M	5.46%	—	HELD
6	NVDA	NVIDIA CORPORATION	$190.01	-3.55%	9.52%	751.61%	$108.8M	4.70%	—	HELD
7	QXO	QXO INC	$13.40	-5.96%	-28.56%	-69.62%	$93.5M	4.04%	—	HELD
8	META	META PLATFORMS INC	$585.61	-1.31%	-21.66%	55.72%	$86.1M	3.72%	—	HELD
9	AMZN	AMAZON COM INC	$226.65	-1.82%	5.54%	30.60%	$60.0M	2.59%	—	HELD
10	NFLX	NETFLIX INC.	$73.63	1.71%	-36.45%	29.36%	$59.5M	2.57%	—	HELD
11	SCHW	SCHWAB CHARLES CORP	$104.47	-1.42%	12.19%	54.86%	$36.7M	1.58%	—	HELD
12	SPY	STATE STR SPDR S&P 500 ETF T	$729.46	-1.54%	20.48%	75.54%	$36.3M	1.57%	—	HELD
13	HYMB	SPDR SERIES TRUST	$24.97	-0.20%	6.85%	0.46%	$34.4M	1.49%	—	HELD
14	BLDR	BUILDERS FIRSTSOURCE INC	$67.76	-8.03%	-47.95%	27.15%	$31.8M	1.37%	—	HELD
15	COF	CAPITAL ONE FINL CORP	$208.71	-1.74%	2.08%	36.84%	$31.7M	1.37%	—	HELD
16	BKSY	BLACKSKY TECHNOLOGY INC	$20.61	-6.10%	9.28%	-74.31%	$31.3M	1.35%	—	HELD
17	GEV	GE VERNOVA INC	$900.28	-4.57%	44.02%	516.33%	$29.0M	1.25%	—	HELD
18	QQQ	INVESCO QQQ TR	$661.73	-2.04%	22.54%	83.19%	$28.1M	1.21%	—	HELD
19	NAUT	NAUTILUS BIOTECHNOLOGY INC	$1.04	-13.33%	36.13%	-86.82%	$27.8M	1.20%	—	HELD
20	CEG	CONSTELLATION ENERGY CORP	$257.95	-0.72%	-23.91%	479.99%	$26.0M	1.12%	—	HELD
21	SPEM	SPDR INDEX SHS FDS	$49.40	-1.36%	20.10%	32.78%	$25.7M	1.11%	—	HELD
22	GOOGL	ALPHABET INC	$336.71	0.90%	76.51%	132.04%	$25.6M	1.10%	—	HELD
23	GOOG	ALPHABET INC	$335.76	0.95%	75.60%	130.67%	$25.2M	1.09%	—	HELD
24	MCO	MOODYS CORP	$483.24	-0.20%	-2.79%	32.16%	$25.0M	1.08%	—	HELD
25	UNH	UNITEDHEALTH GROUP INC	$420.57	-1.92%	83.63%	11.52%	$24.6M	1.06%	—	HELD
26	V	VISA INC	$368.73	0.58%	9.62%	67.02%	$23.4M	1.01%	—	HELD
27	IAU	ISHARES GOLD TR	$76.04	0.45%	19.61%	119.23%	$22.4M	0.97%	—	HELD
28	SPGI	S&P GLOBAL INC	$419.64	-1.11%	-18.03%	4.03%	$22.1M	0.96%	—	HELD
29	XLK	SELECT SECTOR SPDR TR	$166.57	-2.64%	33.81%	123.64%	$21.5M	0.93%	—	HELD
30	BA	BOEING CO	$214.01	-3.41%	-4.86%	-3.82%	$21.5M	0.93%	—	HELD
31	XLV	SELECT SECTOR SPDR TR	$166.24	-0.61%	—	—	$20.7M	0.89%	—	HELD
32	TIC	TIC SOLUTIONS INC	$7.19	-0.69%	—	—	$19.1M	0.82%	—	HELD
33	LIN	LINDE PLC	$511.17	0.00%	—	—	$18.1M	0.78%	—	HELD
34	EWW	ISHARES INC	$75.57	-1.58%	—	—	$18.0M	0.78%	—	HELD
35	QURE	QUANTA SVCS INC	$40.07	9.30%	—	—	$17.9M	0.77%	—	HELD
36	EWZ	ISHARES INC	$35.47	-1.61%	—	—	$16.7M	0.72%	—	HELD
37	APO	APOLLO GLOBAL MGMT INC	$119.77	-3.95%	—	—	$16.4M	0.71%	—	HELD
38	EWY	ISHARES INC	$144.21	-4.78%	—	—	$16.3M	0.71%	—	HELD
39	AAPL	APPLE INC	$338.19	-0.56%	—	—	$16.2M	0.70%	—	HELD
40	SHW	SHERWIN WILLIAMS CO	$343.88	-2.93%	—	—	$15.8M	0.68%	—	HELD
41	LRCX	LAM RESEARCH CORP	$252.35	-6.40%	—	—	$15.3M	0.66%	—	HELD
42	VTV	VANGUARD INDEX FDS	$219.80	-1.43%	—	—	$13.6M	0.59%	—	HELD
43	DNLI	DENALI THERAPEUTICS INC	$23.85	-0.83%	—	—	$12.0M	0.52%	—	HELD
44	COST	COSTCO WHOLESALE CORPORATION	$974.03	0.77%	—	—	$10.6M	0.46%	—	HELD
45	FLKR	FRANKLIN TEMPLETON ETF TR	$47.35	-4.98%	—	—	$10.5M	0.45%	—	HELD
46	SPYD	SPDR SERIES TRUST	$50.41	-0.26%	—	—	$9.9M	0.43%	—	HELD
47	SHM	SPDR SERIES TRUST	$47.65	0.06%	—	—	$9.9M	0.43%	—	HELD
48	AGG	ISHARES TR	$97.55	-0.38%	—	—	$9.8M	0.42%	—	HELD
49	VNQ	VANGUARD INDEX FDS	$100.66	-0.29%	—	—	$9.4M	0.41%	—	HELD
50	XLE	SELECT SECTOR SPDR TR	$58.65	1.88%	—	—	$9.3M	0.40%	—	HELD
51	JPM	JPMORGAN CHASE & CO	$344.71	-3.53%	—	—	$8.3M	0.36%	—	HELD
52	LPX	LOUISIANA PAC CORP	$73.61	-3.84%	—	—	$8.3M	0.36%	—	HELD
53	COPX	GLOBAL X FDS	$76.14	-0.50%	—	—	$8.0M	0.35%	—	HELD
54	HD	HOME DEPOT INC	$338.27	-1.80%	—	—	$7.7M	0.33%	—	HELD
55	WMT	WALMART INC	$114.22	0.99%	—	—	$7.4M	0.32%	—	HELD
56	BAC	BANK AMERICA CORP	$61.07	-2.48%	—	—	$7.3M	0.31%	—	HELD
57	MS	MORGAN STANLEY	$203.13	-3.99%	—	—	$7.2M	0.31%	—	HELD
58	WMS	ADVANCED DRAIN SYS INC DEL	$138.31	-4.65%	—	—	$6.9M	0.30%	—	HELD
59	DHR	DANAHER CORP DEL	$196.49	-1.29%	—	—	$6.4M	0.28%	—	HELD
60	GRAB	GRAB HOLDINGS LIMITED	$3.35	-2.90%	—	—	$5.9M	0.25%	—	HELD
61	INSW	INTERNATIONAL SEAWAYS INC	$94.55	1.01%	—	—	$5.3M	0.23%	—	HELD
62	FLJP	FRANKLIN TEMPLETON ETF TR	$38.25	-0.52%	—	—	$5.3M	0.23%	—	HELD
63	URI	UNITED RENTALS INC	$1055.11	-3.31%	—	—	$5.3M	0.23%	—	HELD
64	MLM	MARTIN MARIETTA MATLS INC	$569.66	-2.40%	—	—	$4.9M	0.21%	—	HELD
65	MCD	MCDONALDS CORP	$271.52	-0.55%	—	—	$4.6M	0.20%	—	HELD
66	EPD	ENTERPRISE PRODS PARTNERS L	$38.67	0.10%	—	—	$4.5M	0.20%	—	HELD
67	IBIT	ISHARES BITCOIN TRUST ETF	$36.00	-0.39%	—	—	$4.5M	0.19%	—	HELD
68	IWM	ISHARES TR	$288.57	-1.64%	—	—	$4.5M	0.19%	—	HELD
69	CINF	CINCINNATI FINL CORP	$181.33	-0.71%	—	—	$4.2M	0.18%	—	HELD
70	DELL	DELL TECHNOLOGIES INC	$369.64	-5.73%	—	—	$4.1M	0.18%	—	HELD
71	AVGO	BROADCOM INC	$370.32	-2.78%	—	—	$3.8M	0.16%	—	HELD
72	JHX	JAMES HARDIE INDS PLC	$26.19	-2.60%	—	—	$3.6M	0.16%	—	HELD
73	SPYM	SPDR SERIES TRUST	$85.93	-1.45%	—	—	$3.5M	0.15%	—	HELD
74	TRTX	TPG RE FIN TR INC	$8.21	-3.86%	—	—	$3.1M	0.14%	—	HELD
75	MUNI	PIMCO ETF TR	$51.84	-0.10%	—	—	$3.0M	0.13%	—	HELD
76	VOO	VANGUARD INDEX FDS	$670.63	-1.52%	—	—	$2.4M	0.10%	—	HELD
77	INDA	ISHARES TR	$49.17	-0.43%	—	—	$2.2M	0.09%	—	HELD
78	HAFN	HAFNIA LTD	$7.58	0.53%	—	—	$2.0M	0.09%	—	HELD
79	PSX	PHILLIPS 66	$206.81	0.47%	—	—	$1.7M	0.07%	—	HELD
80	WMB	WILLIAMS COS INC	$70.13	-0.04%	—	—	$1.6M	0.07%	—	HELD
81	CAT	CATERPILLAR INC	$782.71	-6.91%	—	—	$1.5M	0.07%	—	HELD
82	STWD	STARWOOD PPTY TR INC	$16.52	-0.84%	—	—	$1.4M	0.06%	—	HELD
83	MA	MASTERCARD INCORPORATED	$563.32	0.10%	—	—	$1.3M	0.06%	—	HELD
84	TSLA	TESLA INC	$298.32	-2.97%	—	—	$1.1M	0.05%	—	HELD
85	CGIC	CAPITAL GROUP INTERNATIONAL	$35.07	-0.82%	—	—	$1.1M	0.05%	—	HELD
86	BRK/B	BERKSHIRE HATHAWAY INC DEL	—	—	—	—	$1.1M	0.05%	—	HELD
87	SPTI	SPDR SERIES TRUST	$28.13	-0.18%	—	—	$1.0M	0.04%	—	HELD
88	AMAT	APPLIED MATLS INC	$436.45	-8.40%	—	—	$990K	0.04%	—	HELD
89	ETN	EATON CORP PLC	$361.88	-6.31%	—	—	$912K	0.04%	—	HELD
90	MRK	MERCK & CO INC	$130.36	-1.11%	—	—	$861K	0.04%	—	HELD
91	XOM	EXXON MOBIL CORP	$156.75	2.42%	—	—	$811K	0.04%	—	HELD
92	FANG	DIAMONDBACK ENERGY INC	$199.13	4.63%	—	—	$705K	0.03%	—	HELD
93	TXN	TEXAS INSTRS INC	$271.30	-2.08%	—	—	$692K	0.03%	—	HELD
94	TT	TRANE TECHNOLOGIES PLC	$446.80	-4.94%	—	—	$632K	0.03%	—	HELD
95	PG	PROCTER & GAMBLE CO	$146.10	-1.87%	—	—	$617K	0.03%	—	HELD
96	NEM	NEWMONT CORP	$91.34	-0.20%	—	—	$554K	0.02%	—	HELD
97	XLC	SELECT SECTOR SPDR TR	$109.51	-0.15%	—	—	$473K	0.02%	—	HELD
98	JNJ	JOHNSON & JOHNSON	$265.53	-0.45%	—	—	$471K	0.02%	—	HELD
99	HCA	HCA HEALTHCARE INC	$408.18	-2.39%	—	—	$459K	0.02%	—	HELD
100	NEE	NEXTERA ENERGY INC	$88.46	-0.92%	—	—	$448K	0.02%	—	HELD
101	ITW	ILLINOIS TOOL WKS INC	—	—	—	—	$435K	0.02%	—	HELD
102	HON	HONEYWELL INTL INC	—	—	—	—	$429K	0.02%	—	HELD
103	—	VULCAN MATLS CO	—	—	—	—	$429K	0.02%	—	HELD
104	EQT	EQT CORP	—	—	—	—	$415K	0.02%	—	HELD
105	ABBV	ABBVIE INC	—	—	—	—	$389K	0.02%	—	HELD
106	VTR	VENTAS INC	—	—	—	—	$377K	0.02%	—	HELD
107	PLTR	PALANTIR TECHNOLOGIES INC	—	—	—	—	$372K	0.02%	—	HELD
108	IRWD	IRONWOOD PHARMACEUTICALS INC	—	—	—	—	$356K	0.02%	—	HELD
109	VRTX	VERTEX PHARMACEUTICALS INC	—	—	—	—	$348K	0.02%	—	HELD
110	BSX	BOSTON SCIENTIFIC CORP	—	—	—	—	$346K	0.01%	—	HELD
111	ADBE	ADOBE INC	—	—	—	—	$343K	0.01%	—	HELD
112	WELL	WELLTOWER INC	—	—	—	—	$343K	0.01%	—	HELD
113	NRG	NRG ENERGY INC	—	—	—	—	$335K	0.01%	—	HELD
114	KKR	KKR & CO INC	—	—	—	—	$329K	0.01%	—	HELD
115	HAL	HALLIBURTON CO	—	—	—	—	$314K	0.01%	—	HELD
116	CVX	CHEVRON CORPORATION	—	—	—	—	$314K	0.01%	—	HELD
117	NSC	NORFOLK SOUTHN CORP	—	—	—	—	$307K	0.01%	—	HELD
118	PM	PHILIP MORRIS INTL INC	—	—	—	—	$305K	0.01%	—	HELD
119	NOC	NORTHROP GRUMMAN CORP	—	—	—	—	$298K	0.01%	—	HELD
120	ORLY	OREILLY AUTOMOTIVE INC	—	—	—	—	$295K	0.01%	—	HELD
121	DIS	DISNEY WALT CO	—	—	—	—	$294K	0.01%	—	HELD
122	LMT	LOCKHEED MARTIN CORP	—	—	—	—	$294K	0.01%	—	HELD
123	T	AT&T INC	—	—	—	—	$291K	0.01%	—	HELD
124	TOL	TOLL BROTHERS INC	—	—	—	—	$288K	0.01%	—	HELD
125	ISRG	INTUITIVE SURGICAL INC	—	—	—	—	$286K	0.01%	—	HELD
126	ABT	ABBOTT LABORATORIES	—	—	—	—	$268K	0.01%	—	HELD
127	INTU	INTUIT	—	—	—	—	$268K	0.01%	—	HELD
128	OKE	ONEOK INC NEW	—	—	—	—	$267K	0.01%	—	HELD
129	SBUX	STARBUCKS CORP	—	—	—	—	$267K	0.01%	—	HELD
130	TJX	TJX COS INC NEW	—	—	—	—	$265K	0.01%	—	HELD
131	TMO	THERMO FISHER SCIENTIFIC INC	—	—	—	—	$261K	0.01%	—	HELD
132	ALL	ALLSTATE CORP	—	—	—	—	$232K	0.01%	—	HELD
133	WLK	WESTLAKE CORPORATION	—	—	—	—	$231K	0.01%	—	HELD
134	GE	GE AEROSPACE	—	—	—	—	$218K	0.01%	—	HELD
135	AMGN	AMGEN INC	—	—	—	—	$218K	0.01%	—	HELD
136	AMZN	AMAZON COM INC	$226.65	-1.82%	5.54%	30.60%	$216K	0.01%	—	HELD
137	LOW	LOWES COS INC	—	—	—	—	$215K	0.01%	—	HELD
138	PRU	PRUDENTIAL FINL INC	—	—	—	—	$215K	0.01%	—	HELD
139	CMI	CUMMINS INC	—	—	—	—	$206K	0.01%	—	HELD
140	INTC	INTEL CORP	—	—	—	—	$205K	0.01%	—	HELD
141	CME	CME GROUP INC	—	—	—	—	$202K	0.01%	—	HELD

Source: SEC EDGAR · accession 0001062993-26-002563. 13F discloses long positions only — shorts, foreign equities, and options are excluded.