1y return+17.6%S&P 500 +20.9%
3y return+55.7%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2022: $179 against $195 in the S&P 500.2
Cercano Management LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| UNPUnion Pac Corp | $279.7M | 37.3% | −2.1% |
| RSPInvesco Exchange Traded Fd T | $47.0M | 6.3% | −70.2% |
| METAMeta Platforms Inc | $44.6M | 6.0% | −47.3% |
| BKSYBlacksky Technology Inc | $26.0M | 3.5% | −25.0% |
| NVDANvidia Corporation | $17.6M | 2.3% | −85.9% |
| XLKSelect Sector Spdr Tr | $16.6M | 2.2% | −46.4% |
| DNLIDenali Therapeutics Inc | $16.1M | 2.1% | |
| VTVVanguard Index Fds | $15.1M | 2.0% | |
| NAUTNautilus Biotechnology Inc | $13.4M | 1.8% | |
| AMZNAmazon Com Inc | $13.3M | 1.8% | −80.7% |
| PDOPimco Dynamic Income Oprnts | $10.4M | 1.4% | New |
| AAPLApple Inc | $9.0M | 1.2% | −51.3% |
| James Hardie Inds PLCCUSIP G4253H101 | $8.9M | 1.2% | +77.6% |
| EWYIshares Inc | $8.7M | 1.2% | −67.5% |
| SPYDSpdr Series Trust | $8.3M | 1.1% | −19.7% |
| QXOQxo Inc | $8.3M | 1.1% | −90.0% |
| XLESelect Sector Spdr Tr | $7.9M | 1.1% | |
| MUMicron Technology Inc | $7.7M | 1.0% | New |
| SPYState Str Spdr S&p 500 Etf T | $7.2M | 1.0% | −82.7% |
| MSFTMicrosoft Corp | $7.1M | 1.0% | −96.8% |
| GOOGLAlphabet Inc | $6.8M | 0.9% | −78.6% |
| LRCXLam Research Corp | $6.5M | 0.9% | −78.9% |
| LLYEli Lilly & Co | $6.4M | 0.9% | −96.1% |
| COFCapital One Finl Corp | $6.3M | 0.8% | −81.9% |
| Grab Holdings LimitedCUSIP G4124C109 | $6.0M | 0.8% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| XPOXpo Inc | December 31, 2022 | +516.7% | $6.0M |
| LRCXLam Research Corp | December 31, 2024 | +499.9% | $6.5M |
| BKSYBlacksky Technology Inc | September 30, 2024 | +489.0% | $26.0M |
| NVDANvidia Corporation | June 30, 2023 | +373.0% | $17.6M |
| GOOGLAlphabet Inc | December 31, 2022 | +305.0% | $6.8M |
| GOOGAlphabet Inc | December 31, 2022 | +298.2% | $4.6M |
| AMZNAmazon Com Inc | December 31, 2022 | +183.7% | $13.3M |
| EWYIshares Inc | June 30, 2025 | +181.3% | $8.7M |
| AAPLApple Inc | December 31, 2022 | +122.7% | $9.0M |
| AVGOBroadcom Inc | September 30, 2024 | +119.0% | $4.7M |
Sold off last quarter
- SCHWSchwab Charles Corp was $36.7M
- HYMBSpdr Series Trust was $34.4M
- BLDRBuilders Firstsource Inc was $31.8M
- GEVGe Vernova Inc was $29.0M
- QQQInvesco Qqq Tr was $28.1M
- SPEMSpdr Index Shs Fds was $25.7M
- IAUIshares Gold Tr was $22.4M
- BABoeing Co was $21.5M
- TICTic Solutions Inc was $19.1M
- SHWSherwin Williams Co was $15.8M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +9.6% | +14.8% |
| March 31, 2026 | +0.0% | −4.6% |
| December 31, 2025 | +2.8% | +2.4% |
| September 30, 2025 | +4.3% | +7.8% |
| June 30, 2025 | +12.9% | +10.5% |
| March 31, 2025 | −4.6% | −4.6% |
| December 31, 2024 | −0.0% | +2.1% |
| September 30, 2024 | +2.0% | +5.4% |
| June 30, 2024 | −1.2% | +4.0% |
| March 31, 2024 | +9.5% | +10.0% |
| December 31, 2023 | +14.0% | +11.2% |
| September 30, 2023 | −2.2% | −3.6% |
| June 30, 2023 | +11.4% | +8.3% |
| March 31, 2023 | +3.5% | +7.0% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Cercano Management LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1936416&type=13F-HR&dateb=&owner=include&count=40CIK 1936416
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1936416/000106299326004352/Filed August 14, 2026 · accession 0001062993-26-004352