Cercano Management LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Cercano Management LLC reported 155 stock positions worth $4.2 billion. Its top holding was Microsoft (MSFT) at 11.8% of the portfolio, followed by Xpo (XPO, 8.1%) and Invesco S&P 500 Equal Weight (RSP, 6.8%). Compared with Q2 2024, it opened 80 new positions, sold out of 23, added to 25 and reduced 21. The biggest buy was Invesco S&P 500 Equal Weight (RSP, shares +305%) and the biggest sale Microsoft (MSFT, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- BELLEVUE, WA
- CIK
- 0001936416
- Portfolio Value
- $4.2B (Q3 2024)
- SEC Filing
- 0001936416-24-000017 ↗ filed Nov 14, 2024
Holdings Value
Holdings 155 stocks · $4.2B
| MSFT Microsoft Corp. | 11.79% | 1,145,354 | $492.8M | Reduce -13.6% |
| XPO Xpo Inc. | 8.08% | 3,142,027 | $337.8M | No change |
| RSP Invesco S&P 500 Equal Weight | 6.79% | 1,583,970 | $283.8M | Add +305.2% |
| UNP Union Pacific Corp. | 6.31% | 1,069,783 | $263.7M | Add +0.2% |
| LEN Lennar Corp. Class A | 3.21% | 716,093 | $134.3M | Add +168.9% |
| AMZN Amazon.com Inc. | 2.99% | 671,611 | $125.1M | Add +0.9% |
| NVEE NV5 Global Inc. | 2.84% | 1,271,194 | $118.8M | No change |
| META Meta Platforms Inc. Class A | 2.55% | 186,018 | $106.5M | New |
| QXO Qxo Inc. | 2.48% | 6,564,550 | $103.5M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.30% | 167,534 | $96.1M | Reduce -7.7% |
| MCO Moody's Corp. | 2.23% | 196,746 | $93.4M | Add +0.3% |
| NVDA Nvidia Corp. | 2.04% | 701,230 | $85.2M | Add +4.8% |
| UNH Unitedhealth Group Inc. | 1.96% | 139,837 | $81.8M | Add +1.6% |
| SCHW Schwab (charles) Corp. | 1.76% | 1,135,480 | $73.6M | Add +0.1% |
| GOOG Alphabet Inc. Class C | 1.74% | 435,519 | $72.8M | Reduce -10.8% |
| V Visa Inc. Class A | 1.71% | 259,580 | $71.4M | Add +0.5% |
| SPSM SS SPDR P S&P 600 Small Cap | 1.58% | 1,450,925 | $66.0M | New |
| SPGI S&P Global Inc. | 1.57% | 127,294 | $65.8M | Add +0.7% |
| UBER Uber Technologies Inc. | 1.54% | 857,708 | $64.5M | No change |
| DHR Danaher Corp. | 1.46% | 219,699 | $61.1M | No change |
| HYLB Xtrackers Usd High Yield Cor | 1.36% | 1,537,172 | $56.8M | No change |
| DXCM Dexcom Inc. | 1.23% | 765,416 | $51.3M | Add +236.8% |
| MCK McKesson Corp. | 1.20% | 101,790 | $50.3M | Add +40.7% |
| FROG Jfrog Ltd. | 1.17% | 1,688,029 | $49.0M | Add +5.3% |
| OMF Onemain Holdings Inc. | 1.10% | 974,344 | $45.9M | Add +515.9% |
| TDG Transdigm Group Inc. | 1.05% | 30,789 | $43.9M | Add +914.5% |
| COOP Mr Cooper Group Inc. | 1.05% | 474,952 | $43.8M | Reduce -10.8% |
| AAPL Apple Inc. | 0.98% | 176,043 | $41.0M | Reduce -57.6% |
| MLM Martin Marietta Materials | 0.93% | 72,202 | $38.9M | No change |
| BLDR Builders Firstsource Inc. | 0.93% | 200,111 | $38.8M | Add +87.2% |
| GLD SPDR Gold Shares | 0.92% | 157,989 | $38.4M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.92% | 220,931 | $38.4M | New |
| PCVX Vaxcyte Inc. | 0.90% | 327,742 | $37.5M | Add +19.8% |
| HLT Hilton Worldwide Holdings Inc. | 0.85% | 154,002 | $35.5M | Reduce -12.0% |
| ACGL Arch Capital Group Ltd. | 0.82% | 307,844 | $34.4M | Add +3.2% |
| REGN Regeneron Pharmaceuticals | 0.82% | 32,434 | $34.1M | Reduce -21.8% |
| ASML ASML Holding NV-NY Reg SHS | 0.78% | 39,242 | $32.7M | New |
| VRTX Vertex Pharmaceuticals Inc. | 0.70% | 63,357 | $29.5M | Reduce -10.7% |
| KLAC KLA Corp. | 0.70% | 37,998 | $29.4M | Reduce -42.5% |
| AIG American International Group | 0.64% | 362,555 | $26.5M | Reduce -11.8% |
| GOOGL Alphabet Inc. Class A | 0.63% | 158,662 | $26.3M | Reduce -3.4% |
| BSX Boston Scientific Corp. | 0.60% | 298,085 | $25.0M | New |
| MUNI PIMCO Intermediate Municipal | 0.56% | 443,816 | $23.5M | Reduce -23.0% |
| DDOG Datadog Inc. Class A | 0.51% | 184,589 | $21.2M | Add +68.1% |
| STRL Sterling Infrastructure Inc. | 0.50% | 144,965 | $21.0M | New |
| EWA iShares MSCI Australia ETF | 0.49% | 757,744 | $20.5M | New |
| NAUT Nautilus Biotechnology Inc. | 0.49% | 7,172,985 | $20.4M | No change |
| ELF Elf Beauty Inc. | 0.49% | 187,346 | $20.4M | No change |
| GRAB Grab Holdings Ltd. Class A | 0.48% | 5,286,833 | $20.1M | No change |
| EWC iShares MSCI Canada ETF | 0.46% | 467,030 | $19.4M | New |
| SHW The Sherwin-Williams Co. | 0.45% | 49,577 | $18.9M | Reduce -12.4% |
| MA Mastercard Inc. Class A | 0.45% | 37,737 | $18.6M | Add +7.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.44% | 65,922 | $18.5M | New |
| WAL Western Alliance Bancorp | 0.44% | 212,027 | $18.3M | Reduce -73.5% |
| DNLI Denali Therapeutics Inc. | 0.44% | 625,000 | $18.2M | No change |
| HLMN Hillman Solutions Corp. | 0.41% | 1,620,893 | $17.1M | No change |
| EMHY iShares J.P. Morgan Em High | 0.39% | 421,404 | $16.4M | Add +205.4% |
| BATRK Atlanta Braves Holdings in-C | 0.38% | 395,678 | $15.7M | No change |
| SLV iShares Silver Trust | 0.37% | 547,834 | $15.6M | New |
| XLE SS Energy Select Sector | 0.34% | 159,810 | $14.0M | New |
| LOW Lowe's Cos Inc. | 0.32% | 50,096 | $13.6M | Add +1.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.29% | 69,120 | $12.1M | New |
| HYMB SS SPDR N Ice HY Muni ETF | 0.26% | 414,300 | $10.9M | Add +107.2% |
| TFIN Triumph Financial Inc. | 0.25% | 131,092 | $10.4M | Reduce -2.3% |
| RELY Remitly Global Inc. | 0.24% | 760,175 | $10.2M | No change |
| ET Energy Transfer LP | 0.17% | 438,495 | $7.0M | No change |
| LION Lionsgate Studios Corp. | 0.17% | 983,767 | $7.0M | No change |
| IWM iShares Russell 2000 ETF | 0.17% | 31,284 | $6.9M | New |
| PDO PIMCO Dynamic Income Opport | 0.16% | 487,454 | $6.9M | Add +85.7% |
| INSW International Seaways Inc. | 0.15% | 119,085 | $6.1M | No change |
| BKSY Blacksky Technology Inc. | 0.14% | 1,243,976 | $5.9M | No change |
| VOO Vanguard S&P 500 ETF | 0.14% | 10,935 | $5.8M | No change |
| SGOV iShares 0-3 Month Treasury B | 0.12% | 50,229 | $5.1M | Reduce -57.3% |
| KGC Kinross Gold Corp. | 0.12% | 529,101 | $5.0M | No change |
| HAFN Hafnia Ltd. | 0.11% | 660,948 | $4.7M | New |
| T AT&T Inc. | 0.11% | 213,462 | $4.7M | Add +4.9% |
| RXRX Recursion Pharmaceuticals-A | 0.11% | 685,018 | $4.5M | No change |
| MRVL Marvell Technology Inc. | 0.10% | 60,869 | $4.4M | Reduce -89.0% |
| EWG iShares MSCI Germany ETF | 0.10% | 122,699 | $4.2M | New |
| DT Dynatrace Inc. | 0.09% | 74,101 | $4.0M | Reduce -48.8% |
| LABU DRXN DLY S&P BT BL 3X ETF-Ui | 0.09% | 28,765 | $3.7M | New |
| EPD Enterprise Products Partners | 0.08% | 120,021 | $3.5M | No change |
| TRTX TPG Re Finance Trust Inc. | 0.08% | 401,607 | $3.4M | No change |
| SRLN SS Blackstone Sr Loan ETF | 0.07% | 71,523 | $3.0M | Reduce -87.2% |
| SOXL Direx Dail Semi Bu 3X Et-Usd | 0.07% | 80,689 | $3.0M | New |
| OCSL Oaktree Specialty Lending Co. | 0.07% | 180,413 | $2.9M | Reduce -70.1% |
| OUT Outfront Media Inc. | 0.06% | 134,499 | $2.5M | No change |
| AVGO Broadcom Inc. | 0.06% | 13,440 | $2.3M | New |
| WU Western Union Co. | 0.04% | 149,869 | $1.8M | No change |
| STWD Starwood Property Trust Inc. | 0.04% | 79,029 | $1.6M | No change |
| PAA Plains All Amer Pipeline LP | 0.04% | 85,192 | $1.5M | No change |
| TCPC BlackRock TCP Capital Corp. | 0.03% | 148,400 | $1.2M | No change |
| WMT Walmart Inc. | 0.03% | 13,635 | $1.1M | New |
| HD Home Depot Inc. | 0.02% | 2,430 | $985K | New |
| LLY Eli Lilly & Co. | 0.02% | 1,105 | $979K | New |
| NFLX Netflix Inc. | 0.02% | 1,332 | $945K | New |
| TSLA Tesla Inc. | 0.02% | 3,456 | $904K | New |
| MRK Merck & Co. Inc. | 0.02% | 7,730 | $878K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.02% | 21,750 | $863K | New |
| CAT Caterpillar Inc. | 0.02% | 2,180 | $853K | New |
Options reported separately and not counted above: ALPHABET INC calls ($1.2M).
Portfolio Sells Q2 2024 → Q3 2024
| MSFT Microsoft Corp. | Reduce -13.6% | 11.79% | −4.01 |
| AAPL Apple Inc. | Reduce -57.6% | 0.98% | −1.35 |
| CDNS Cadence Design SYS Inc. | Sold out | 0.00% | −1.20 |
| MDY State Street SPDR S&P Midcap | Sold out | 0.00% | −1.20 |
| XLK SS Technology Select Sector | Sold out | 0.00% | −0.98 |
| WMS Advanced Drainage Systems Inc. | Sold out | 0.00% | −0.98 |
| MRVL Marvell Technology Inc. | Reduce -89.0% | 0.10% | −0.93 |
| WAL Western Alliance Bancorp | Reduce -73.5% | 0.44% | −0.90 |
| KLAC KLA Corp. | Reduce -42.5% | 0.70% | −0.75 |
| IBKR Interactive Brokers Gro Class A | Sold out | 0.00% | −0.72 |
| MPWR Monolithic Power Systems Inc. | Sold out | 0.00% | −0.69 |
| GOOG Alphabet Inc. Class C | Reduce -10.8% | 1.74% | −0.65 |
| PGNY Progyny Inc. | Sold out | 0.00% | −0.60 |
| EWBC East West Bancorp Inc. | Sold out | 0.00% | −0.58 |
| SRLN SS Blackstone Sr Loan ETF | Reduce -87.2% | 0.07% | −0.55 |
| VEEV Veeva Systems Inc. Class A | Sold out | 0.00% | −0.48 |
| WDAY Workday Inc. Class A | Sold out | 0.00% | −0.48 |
| REGN Regeneron Pharmaceuticals | Reduce -21.8% | 0.82% | −0.35 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -7.7% | 2.30% | −0.34 |
| CP Canadian Pacific Kansas City | Sold out | 0.00% | −0.34 |
| WELL Welltower Inc. | Sold out | 0.00% | −0.32 |
| INVH Invitation Homes Inc. | Sold out | 0.00% | −0.25 |
| MUNI PIMCO Intermediate Municipal | Reduce -23.0% | 0.56% | −0.24 |
| OCSL Oaktree Specialty Lending Co. | Reduce -70.1% | 0.07% | −0.23 |
| SGOV iShares 0-3 Month Treasury B | Reduce -57.3% | 0.12% | −0.20 |
| IOT Samsara Inc. Class A | Sold out | 0.00% | −0.19 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -10.7% | 0.70% | −0.18 |
| AIG American International Group | Reduce -11.8% | 0.64% | −0.18 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -12.0% | 0.85% | −0.17 |
| GOOGL Alphabet Inc. Class A | Reduce -3.4% | 0.63% | −0.17 |
| OBDC Blue Owl Capital Corp. | Sold out | 0.00% | −0.14 |
| SHM SS SPDR N Ice St Muni ETF | Sold out | 0.00% | −0.14 |
| PAYO Payoneer Global Inc. | Sold out | 0.00% | −0.12 |
| KBE SS SPDR S&P Bank ETF | Sold out | 0.00% | −0.11 |
| COOP Mr Cooper Group Inc. | Reduce -10.8% | 1.05% | −0.11 |
| WPM Wheaton Precious Metals Corp. | Sold out | 0.00% | −0.10 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.09 |
| ETN Eaton Corp. PLC | Reduce -79.5% | 0.02% | −0.08 |
| DT Dynatrace Inc. | Reduce -48.8% | 0.09% | −0.08 |
| UUUU Energy Fuels Inc. | Sold out | 0.00% | −0.07 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.06 |
| TFIN Triumph Financial Inc. | Reduce -2.3% | 0.25% | −0.04 |
| BANZAI INTERNATIONAL INC | Sold out | 0.00% | −0.00 |
| SHW The Sherwin-Williams Co. | Reduce -12.4% | 0.45% | +0.00 |
Portfolio Buys Q2 2024 → Q3 2024
| RSP Invesco S&P 500 Equal Weight | Add +305.2% | 6.79% | +5.07 |
| META Meta Platforms Inc. Class A | New | 2.55% | +2.55 |
| QXO Qxo Inc. | New | 2.48% | +2.48 |
| LEN Lennar Corp. Class A | Add +168.9% | 3.21% | +2.15 |
| SPSM SS SPDR P S&P 600 Small Cap | New | 1.58% | +1.58 |
| TDG Transdigm Group Inc. | Add +914.5% | 1.05% | +0.95 |
| GLD SPDR Gold Shares | New | 0.92% | +0.92 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.92% | +0.92 |
| OMF Onemain Holdings Inc. | Add +515.9% | 1.10% | +0.89 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.78% | +0.78 |
| BSX Boston Scientific Corp. | New | 0.60% | +0.60 |
| DXCM Dexcom Inc. | Add +236.8% | 1.23% | +0.54 |
| BLDR Builders Firstsource Inc. | Add +87.2% | 0.93% | +0.53 |
| STRL Sterling Infrastructure Inc. | New | 0.50% | +0.50 |
| EWA iShares MSCI Australia ETF | New | 0.49% | +0.49 |
| EWC iShares MSCI Canada ETF | New | 0.46% | +0.46 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.44% | +0.44 |
| SLV iShares Silver Trust | New | 0.37% | +0.37 |
| PCVX Vaxcyte Inc. | Add +19.8% | 0.90% | +0.34 |
| XLE SS Energy Select Sector | New | 0.34% | +0.34 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.29% | +0.29 |
| EMHY iShares J.P. Morgan Em High | Add +205.4% | 0.39% | +0.26 |
| IWM iShares Russell 2000 ETF | New | 0.17% | +0.17 |
| DDOG Datadog Inc. Class A | Add +68.1% | 0.51% | +0.13 |
| HYMB SS SPDR N Ice HY Muni ETF | Add +107.2% | 0.26% | +0.12 |
| HAFN Hafnia Ltd. | New | 0.11% | +0.11 |
| EWG iShares MSCI Germany ETF | New | 0.10% | +0.10 |
| LABU DRXN DLY S&P BT BL 3X ETF-Ui | New | 0.09% | +0.09 |
| UNH Unitedhealth Group Inc. | Add +1.6% | 1.96% | +0.09 |
| MCK McKesson Corp. | Add +40.7% | 1.20% | +0.08 |
| PDO PIMCO Dynamic Income Opport | Add +85.7% | 0.16% | +0.07 |
| SOXL Direx Dail Semi Bu 3X Et-Usd | New | 0.07% | +0.07 |
| SPGI S&P Global Inc. | Add +0.7% | 1.57% | +0.07 |
| AVGO Broadcom Inc. | New | 0.06% | +0.06 |
| LOW Lowe's Cos Inc. | Add +1.9% | 0.32% | +0.04 |
| MCO Moody's Corp. | Add +0.3% | 2.23% | +0.03 |
| MA Mastercard Inc. Class A | Add +7.3% | 0.45% | +0.03 |
| WMT Walmart Inc. | New | 0.03% | +0.03 |
| HD Home Depot Inc. | New | 0.02% | +0.02 |
| LLY Eli Lilly & Co. | New | 0.02% | +0.02 |
| NFLX Netflix Inc. | New | 0.02% | +0.02 |
| TSLA Tesla Inc. | New | 0.02% | +0.02 |
| MRK Merck & Co. Inc. | New | 0.02% | +0.02 |
| ACGL Arch Capital Group Ltd. | Add +3.2% | 0.82% | +0.02 |
| BAC Bank of America Corp. | New | 0.02% | +0.02 |
| CAT Caterpillar Inc. | New | 0.02% | +0.02 |
| PG The Procter & Gamble Co. | New | 0.02% | +0.02 |
| TXN Texas Instruments Inc. | New | 0.02% | +0.02 |
| ADBE Adobe Inc. | New | 0.02% | +0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.02% | +0.02 |
Options Activity Q2 2024 → Q3 2024
| APPLE INC | call | Sold out | 550 | $5.7Mbefore exit |
| ALPHABET INC | call | New | 2,886 | $1.2M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 131 | $749.9M | UNP, RSP, META, BKSY, NVDA |
| Q1 2026 | 139 | $2.3B | UNP, MSFT, XPO, RSP, LLY |
| Q4 2025 | 145 | $2.6B | MSFT, XPO, UNP, QXO, LLY |
| Q3 2025 | 148 | $2.6B | MSFT, UNP, XPO, QXO, RSP |
| Q2 2025 | 148 | $3.5B | MSFT, XPO, UNP, QXO, RSP |
| Q1 2025 | 148 | $3.4B | MSFT, UNP, XPO, RSP, META |
| Q4 2024 | 174 | $3.9B | MSFT, XPO, RSP, UNP, AMZN |
| Q3 2024 | 155 | $4.2B | MSFT, XPO, RSP, UNP, LEN |
| Q2 2024 | 98 | $3.7B | MSFT, XPO, UNP, AMZN, NVEE |
| Q1 2024 | 101 | $3.6B | MSFT, XPO, UNP, NVEE, AMZN |