Cercano Management LLC
CIK 1936416 · Holdings on Sep 30, 2025 · First reported Nov 7, 2025
Top ten holdings
Q3 2025- MSFT12.69%
- UNP10.01%
- XPO9.67%
- QXO7.75%
- RSP4.55%
- LLY4.38%
- META3.73%
- NVDA3.68%
- 62482R1072.31%
- AMZN2.12%
Share classes counted separately60.89%
Portfolio value by quarter
What changed this quarter?
Within preview · weight change- UNPWeight increased · +2.99 pp7.02% → 10.01%Shares +32.33K (+3.02%)
- XPOWeight increased · +2.12 pp7.55% → 9.67%Shares -148.84K (-7.11%)
- AMZNWeight decreased · -1.84 pp3.96% → 2.12%Shares -381.12K (-60.24%)
Weight = security value ÷ total reported holdings value. Changes are in percentage points; price moves also affect weights, so they are not trade sizes.
Top 10 holdings 27
USD · B = billion · M = million; expand a row for exact values| # | Security | Value | Weight | Quantity | Weight / quantity change | Activity | |
|---|---|---|---|---|---|---|---|
| 01 | MSFTMICROSOFT CORP View history and evidence | $330.14M | 12.69% | 637.40K shares | 11.48% → 12.69%+1.21 pp -171.46K (-21.20%) | Reduced | ↗▾ |
| 02 | UNPUNION PACIFIC CORP View history and evidence | $260.51M | 10.01% | 1.10M shares | 7.02% → 10.01%+2.99 pp +32.33K (+3.02%) | Added | ↗▾ |
| 03 | XPOXPO INC View history and evidence | $251.56M | 9.67% | 1.95M shares | 7.55% → 9.67%+2.12 pp -148.84K (-7.11%) | Reduced | ↗▾ |
| 04 | QXOQXO INCCOM NEW View history and evidence | $201.76M | 7.75% | 10.59M shares | 7.01% → 7.75%+0.74 pp -819.93K (-7.19%) | Reduced | ↗▾ |
| 05 | RSPINVESCO S&P 500 EQUAL WEIGHTS&P500 EQL WGT View history and evidence | $118.39M | 4.55% | 624.08K shares | 4.07% → 4.55%+0.48 pp -160.33K (-20.44%) | Reduced | ↗▾ |
| 06 | LLYELI LILLY & CO View history and evidence | $113.98M | 4.38% | 149.39K shares | 3.87% → 4.38%+0.51 pp -24.40K (-14.04%) | Reduced | ↗▾ |
| 07 | METAMETA PLATFORMS INC-CLASS ACL A View history and evidence | $97.15M | 3.73% | 132.29K shares | 3.97% → 3.73%-0.24 pp -56.18K (-29.81%) | Reduced | ↗▾ |
| 08 | NVDANVIDIA CORP View history and evidence | $95.73M | 3.68% | 513.08K shares | 3.44% → 3.68%+0.24 pp -249.83K (-32.75%) | Reduced | ↗▾ |
| 09 | 62482R107MR COOPER GROUP INC View history and evidence | $60.14M | 2.31% | 285.33K shares | 1.53% → 2.31%+0.78 pp -74.47K (-20.70%) | Reduced | ↗▾ |
| 10 | AMZNAMAZON.COM INC View history and evidence | $55.23M | 2.12% | 251.54K shares | 3.96% → 2.12%-1.84 pp -381.12K (-60.24%) | Reduced | ↗▾ |
Options overlay 3
$8.07M notionalPut and Call positions are separate. Notional is based on underlying securities, not option premium, market value or net exposure. Quantities are underlying shares.
| Security | Put / Call | Underlying shares | Notional | Quantity change | |
|---|---|---|---|---|---|
QXOQXO INCPUT View history and evidence | Put | 24.85K | $4.65M | -91.15K (-78.58%) | ▾ |
XPOXPO INCPUT View history and evidence | Put | 2.84K | $3.15M | +2.84K | ▾ |
JNJJOHNSON & JOHNSONCALL View history and evidence | Call | 777 | $264.18K | +777 | ▾ |
3 / 3 options · preview only
Exited positions 29
| Security | Type | Shares out | Value out | Previous filing | This filing |
|---|---|---|---|---|---|
| NVEE NV5 GLOBAL INC | Non-derivative | -3,925,599 | -$90.64M | SEC filing ↗ | SEC filing ↗ |
| APD AIR PRODUCTS & CHEMICALS INC | Non-derivative | -105,548 | -$29.77M | SEC filing ↗ | SEC filing ↗ |
| AON AON PLC-CLASS A | Non-derivative | -83,237 | -$29.70M | SEC filing ↗ | SEC filing ↗ |
3 / 29 preview exits. Up to 30 exit records are previewed. Exit means absent from the current filing; execution date, price and proceeds are unknown.
Every number has a source.
CIK 1936416 · Period 2025-09-30
Data loaded 2026-09-23 · First reported 2025-11-07
Amendments and versions
{
"amendments_merged": null,
"prior_versions": null,
"cover_table_value": 2609919991
}Research all 151 reported holdings.
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