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Cercano Management LLC

Institutional InvestorSimilar funds →SEC EDGAR: CIK 1936416
Institutional-grade research for retail investors

Sector Allocation

  • Financials34.8%$361.5M
  • Industrials29.8%$309.3M
  • Technology14.0%$145.7M
  • Other7.8%$81.5M
  • Healthcare4.7%$48.3M
  • Materials2.6%$26.9M
  • Consumer Discretionary2.2%$23.1M
  • Real Estate1.4%$15.1M
  • Energy1.1%$11.1M
  • Consumer Staples0.6%$5.8M

AUM History

13fpro.ai/research/fund/cercano-management-llc-1936416

Largest positions — Q2 2026

Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.

13fpro.ai/research/fund/cercano-management-llc-1936416

Cercano Management LLC 13F holdings — Q2 2026

$1.0B portfolio (-55.2% QoQ) · 136 holdings · Q2 2026 13F · top 10 are 73% of the stock portfolio

Includes $139K of put/call options ($70K puts, $68K calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $1.0B. Weights use the stock portfolio.

All holdings — Cercano Management LLC (Q2 2026)

136 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.

Company
AMZN$AMZNAMAZON COM INC$13.3M-81%
PDO$PDOPIMCO Dynamic Income Opportunities Fund$10.4MNew
AAPL$AAPLApple Inc.$9.0M-51%
JHX$JHXJames Hardie Industries plc$8.9M+78%
— ISHARES INC - MSCI STH KOR ETFetf/fund$8.7M-67%
MDY$MDYSPDR S&P MIDCAP 400 ETF TRUSTetf/fund$8.3MNew
SHW$SHWSHERWIN WILLIAMS CO$8.3M+882%
— SELECT SECTOR SPDR TR - ST STR CARE ETFetf/fund$7.9M+6%
MU$MUMICRON TECHNOLOGY INC$7.7MNew
MSFT$MSFTMICROSOFT CORP$7.7M-99%
SPY$SPYSPDR S&P 500 ETF TRUSTetf/fund$7.2M-83%
GOOGL$GOOGLAlphabet Inc.$6.8M-79%
LRCX$LRCXLAM RESEARCH CORP$6.5M-79%
LLY$LLYELI LILLY & Co$6.4M-96%
COF$COFCAPITAL ONE FINANCIAL CORP$6.3M-82%

What changed in Q2 2026

Against the previous quarter's 13F: 35 new, 8 added to, 43 trimmed, 41 sold out. Share-count changes; largest moves by dollar size first.

New positions (35)

  • USB$USBUS BANCORP \DE\$279.7M

    first bought this quarter

  • PDO$PDOPIMCO Dynamic Income Opportunities Fund$10.4M

    first bought this quarter

  • MDY$MDYSPDR S&P MIDCAP 400 ETF TRUST$8.3M

    first bought this quarter

  • MU$MUMICRON TECHNOLOGY INC$7.7M

    first bought this quarter

  • VMC$VMCVulcan Materials CO$5.6M

    first bought this quarter

  • DASH$DASHDoorDash, Inc.$4.4M

    first bought this quarter

+29 more in the Excel export

Added to (8)

  • VTR$VTRVentas, Inc.+1399%

    now $15.1M · held 8 qtrs

  • SHW$SHWSHERWIN WILLIAMS CO+882%

    now $8.3M · held 4 qtrs

  • JHX$JHXJames Hardie Industries plc+78%

    now $8.9M · held 2 qtrs, 2 adds in a row

  • WLK$WLKWESTLAKE CORP+987%

    now $1.6M · held 2 qtrs, 2 adds in a row

  • SBUX$SBUXSTARBUCKS CORP+2552%

    now $1.3M · held 8 qtrs

  • ISRG$ISRGINTUITIVE SURGICAL INC+201%

    now $744K · held 8 qtrs

+2 more in the Excel export

Trimmed (43)

  • MSFT$MSFTMICROSOFT CORP-99%

    now $7.7M · held 10+ qtrs

  • LLY$LLYELI LILLY & Co-96%

    now $6.4M · held 8 qtrs, 4 trims in a row

  • XPO$XPOXPO, Inc.-96%

    now $6.0M · held 10+ qtrs, 2 trims in a row

  • IVZ$IVZInvesco Ltd.-70%

    now $47.0M · held 10+ qtrs

  • NVDA$NVDANVIDIA CORP-86%

    now $17.6M · held 10+ qtrs

  • SCHW$SCHWSCHWAB CHARLES CORP-93%

    now $4.5M · held 10+ qtrs

+37 more in the Excel export

Sold out (41)

  • QXO$QXOQXO, Inc.was $93.5M

    held 7 qtrs

  • SPDR SERIES TRUSTwas $34.4M
  • BLDR$BLDRBuilders FirstSource, Inc.was $31.8M

    held 3 qtrs

  • GEV$GEVGE Vernova Inc.was $29.0M

    held 4 qtrs

  • QQQ$QQQINVESCO QQQ TRUST, SERIES 1was $28.1M

    held 4 qtrs

  • SPDR INDEX SHS FDSwas $25.7M

+35 more in the Excel export

Firm AUM (Form ADV): $7.3B as of 2025-12-31 · SEC IAPD

Share

Holdings by quarter

Every 13F Cercano Management LLC has filed, 14 earlier quarters. Pick one to see what it held then.

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Is it too late to follow Cercano Management?

Q2 2026 13F filed with the SEC on Aug 13, 2026. Prices are closing prices as of Oct 26, 2026.

Average quality of Cercano Management's top 20 holdings: 68/100 (our AI quality score, weighted by position size; 13 of the 20 are scored)

Top 10 since filing

-2.8%

Value-weighted move of the 10 largest stock positions

Turnover

22%

Last quarter; 49% over the last 4

Top 10 weight

73%

Share of the stock portfolio in its 10 largest positions

Held 4+ quarters

62%

Share of portfolio value in positions held a year or more

Highest-quality names it owns(among its 100 largest positions)

The 8 highest-scoring companies in this portfolio are a Pro feature.

How these are measured
  • Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
  • Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
  • Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
  • Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
  • Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.

Portfolio Overview

Cercano Management LLC disclosed 136 positions worth $1.0B in its Form 13F-HR for Q2 2026 — $1.0B in common stock plus $138,672 of put/call option positions (reported at underlying notional value, not premium at risk), led by $USB (US BANCORP \DE\) at 27.0% of the equity portfolio, followed by $UNP and $IVZ. During the quarter the fund opened 35 new positions and exited 41 — including a new stake in $USB and a full exit from $QXO. The portfolio is most concentrated in Financials (34.8% of disclosed assets). All figures are sourced directly from Cercano Management LLC’s Form 13F-HR filing with the SEC under CIK 1936416.

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AI-Powered Hedge Fund Analysis: Cercano Management LLC

13F Pro is an AI hedge fund tracker and stock research platform. For Cercano Management LLC (SEC CIK: 1936416), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.

Every holding in Cercano Management LLC's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.