Cercano Management LLC — 13F Holdings & Portfolio
CIK 1936416 · latest 13F-HR filed 2026-08-14
Cercano Management LLC manages $749.9M in 13F-reported U.S. long-equity assets across 155 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are UNP (37.21%), RSP (6.27%), META (5.95%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 22 new positions and exited 30; 31 existing positions rose in reported value and 63 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$749.9M
Long-equity book
Holdings
155
Distinct positions
Period
2026-06-30
Filed 2026-08-14
Q/Q Activity
+22 / −30 / ↑31 / ↓63
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26UNP37.3% · -2%RSP6.3% · -70%META6.0% · -47%BKSY3.5% · -25%NVDA2.3% · -86%XLK2.2% · -46%DNLI2.1% · 0%VTV2.0% · 0%NAUT1.8% · 0%AMZN1.8% · -81%PDO1.4% · newAAPL1.2% · -51%JHX1.2% · +78%EWY1.2% · -68%SPYD1.1% · -20%QXO1.1% · -90%XLE1.1% · 0%MU1.0% · newSPY1.0% · -83%MSFT1.0% · -97%GOOGL0.9% · -79%LRCX0.9% · -79%LLY0.9% · -96%COF0.8% · -82%GRAB0.8% · 0%XPO0.8% · -96%VMC0.7% · newINSW0.7% · 0%IWM0.7% · 0%EWW0.6% · -73%AVGO0.6% · 0%GOOG0.6% · -85%XLV0.6% · -80%DASH0.6% · newEPD0.6% · 0%EWZ0.6% · -72%JAZZ0.6% · newIBIT0.5% · 0%TRTX0.4% · 0%MUNI0.4% · 0%BAC0.4% · -68%PWR0.4% · -89%JPM0.3% · -72%MDY0.3% · newCOST0.3% · -77%CAT0.3% · 0%INDA0.3% · 0%WMT0.3% · -66%AMAT0.3% · 0%HD0.3% · -75%LIN0.3% · -90%MS0.3% · -79%URI0.3% · -77%RDDT0.2% · newHAFN0.2% · 0%CEG0.2% · -93%WMB0.2% · 0%PSX0.2% · 0%ASML0.2% · newXBI0.2% · new
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 65.3%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Sep 8, 2026.
Assets Under Management
$7.28B
Discretionary
$7.04B
Employees
62
Accounts
48
Address
1110 112TH AVENUE NE
SUITE 202
BELLEVUE, WA 98004
SUITE 202
BELLEVUE, WA 98004
Phone
(425) 371-7500
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| CERCANO MANAGEMENT HOLDINGS L.P. Control | MEMBER since Jan 2022 | 75% or more | Domestic Entity |
| CHOI, YONGBAI Control | EXEC VP AND MANAGEMENT COMMITTEE MEMBER since Jan 2022 | Less than 5% | Individual |
| HALPER, PATRICIA, ANN Control | CO-CHIEF INVESTMENT OFFICER since Aug 2025 | Less than 5% | Individual |
| HWANG, ALBERT, FIRMAN Control | EXEC VP AND MANAGEMENT COMMITTEE MEMBER since Jan 2022 | Less than 5% | Individual |
| ORNDORFF, CHRISTOPHER, NEIL Control | PRESIDENT, MANAGEMENT COMMITTEE MEMBER since Jul 2021 | Less than 5% | Individual |
| SHOOP, JOEL, WILLIAM Control | CHIEF FINANCIAL OFFICER since Jan 2022 | Less than 5% | Individual |
| KHAUV, MALINDA, MEI-YIN | CHIEF COMPLIANCE OFFICER since Aug 2023 | Less than 5% | Individual |
| CERCANO MANAGEMENT GP LLC Control Indirect owner via CERCANO MANAGEMENT HOLDINGS L.P. | GENERAL PARTNER since Jan 2022 | General partner, trustee or manager | Domestic Entity |
| ORNDORFF, CHRISTOPHER, NEIL Control Indirect owner via CERCANO MANAGEMENT HOLDINGS L.P. | LIMITED PARTNER since Jan 2022 | 75% or more | Individual |
Ownership & leadership changes · 9 filings with changes since Nov 17, 2021
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Sep 8, 2026 filing
- No longer listedGLEMANN, GABRIELLE · GENERAL COUNSEL · Less than 5% · control person · listed since Jun 2023
Jul 1, 2026 filing
- AddedHALPER, PATRICIA, ANN · CO-CHIEF INVESTMENT OFFICER · Less than 5% · control person
Jan 7, 2026 filing
- No longer listedTHE ESTATE OF PAUL G. ALLEN · LIMITED PARTNER · 25–50% · indirect via CERCANO MANAGEMENT HOLDINGS L.P. · control person · listed since Jan 2022
- ChangedORNDORFF, CHRISTOPHER, NEIL · indirect via CERCANO MANAGEMENT HOLDINGS L.P.: ownership 50–75% → 75% or more
Aug 1, 2023 filing
- No longer listedHINIKER, KEVIN, JAMES · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Mar 2023
- AddedKHAUV, MALINDA, MEI-YIN · CHIEF COMPLIANCE OFFICER · Less than 5%
Jun 12, 2023 filing
- AddedGLEMANN, GABRIELLE · GENERAL COUNSEL · Less than 5% · control person
Mar 31, 2023 filing
- No longer listedCHOI, SANDY, SUH MOON · GENERAL COUNSEL, CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Mar 2022
- AddedHINIKER, KEVIN, JAMES · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Oct 6, 2022 filing
- No longer listedCERCANO MANAGEMENT HOLDINGS LP · MEMBER · 75% or more · control person · listed since Jan 2022
- No longer listedTHE ESTATE OF PAUL G. ALLEN · MEMBER · 25–50% · control person · listed since Jan 2022
- AddedCERCANO MANAGEMENT GP LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via CERCANO MANAGEMENT HOLDINGS L.P. · control person
- AddedCERCANO MANAGEMENT HOLDINGS L.P. · MEMBER · 75% or more · control person
- AddedCHOI, YONGBAI · EXEC VP AND MANAGEMENT COMMITTEE MEMBER · Less than 5% · control person
- AddedHWANG, ALBERT, FIRMAN · EXEC VP AND MANAGEMENT COMMITTEE MEMBER · Less than 5% · control person
- AddedORNDORFF, CHRISTOPHER, NEIL · LIMITED PARTNER · 50–75% · indirect via CERCANO MANAGEMENT HOLDINGS L.P. · control person
- AddedSHOOP, JOEL, WILLIAM · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- AddedTHE ESTATE OF PAUL G. ALLEN · LIMITED PARTNER · 25–50% · indirect via CERCANO MANAGEMENT HOLDINGS L.P. · control person
- ChangedORNDORFF, CHRISTOPHER, NEIL · title MANAGING MEMBER, CHIEF EXECUTIVE OFFICER → PRESIDENT, MANAGEMENT COMMITTEE MEMBER
- ChangedORNDORFF, CHRISTOPHER, NEIL · ownership 75% or more → Less than 5%
Mar 31, 2022 filing
- No longer listedVASQUEZ, OMAR, EMMANUEL · CHIEF COMPLIANCE OFFICER, ASSOCIATE GENERAL COUNSEL · Less than 5% · control person · listed since Nov 2021
- AddedCHOI, SANDY, SUH MOON · GENERAL COUNSEL, CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Feb 7, 2022 filing
- AddedCERCANO MANAGEMENT HOLDINGS LP · MEMBER · 75% or more · control person
- AddedTHE ESTATE OF PAUL G. ALLEN · MEMBER · 25–50% · control person
Nov 17, 2021 filing (earliest on record)
- ListedORNDORFF, CHRISTOPHER, NEIL · MANAGING MEMBER, CHIEF EXECUTIVE OFFICER · 75% or more · control person
- ListedVASQUEZ, OMAR, EMMANUEL · CHIEF COMPLIANCE OFFICER, ASSOCIATE GENERAL COUNSEL · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- UNION PAC CORP$24.8M +9.7%
- JAMES HARDIE INDS PLC$5.3M +145.5%
- DENALI THERAPEUTICS INC$4.1M +34.0%
- VANGUARD INDEX FDS$1.5M +11.1%
- APPLIED MATLS INC$1.1M +111.5%
Top Trims
- MICROSOFT CORP-$218.0M -96.8%
- XPO INC-$141.2M -95.9%
- ELI LILLY & CO-$119.9M -94.9%
- INVESCO EXCHANGE TRADED FD T-$95.3M -66.9%
- NVIDIA CORPORATION-$91.2M -83.8%
New Positions
- PIMCO DYNAMIC INCOME OPRNTS$10.4M
- MICRON TECHNOLOGY INC$7.7M
- VULCAN MATLS CO$5.6M
- DOORDASH INC$4.4M
- JAZZ PHARMACEUTICALS PLC$4.2M
Exited Positions
- SCHWAB CHARLES CORP$36.7M
- SPDR SERIES TRUST$34.4M
- BUILDERS FIRSTSOURCE INC$31.8M
- GE VERNOVA INC$29.0M
- INVESCO QQQ TR$28.1M
Cercano Management LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | UNION PAC CORP | UNP | 907818108 | $279.0M | 37.21% | 1,025,903 | SH |
| 2 | INVESCO EXCHANGE TRADED FD T | RSP | 46137V357 | $47.0M | 6.27% | 221,055 | SH |
| 3 | META PLATFORMS INC | META | 30303M102 | $44.6M | 5.95% | 79,237 | SH |
| 4 | BLACKSKY TECHNOLOGY INC | BKSY | 09263B207 | $26.0M | 3.47% | 932,982 | SH |
| 5 | SELECT SECTOR SPDR TR | XLK | 81369Y803 | $16.6M | 2.21% | 86,935 | SH |
| 6 | DENALI THERAPEUTICS INC | DNLI | 24823R105 | $16.1M | 2.14% | 625,000 | SH |
| 7 | VANGUARD INDEX FDS | VTV | 922908744 | $15.1M | 2.01% | 69,120 | SH |
| 8 | NAUTILUS BIOTECHNOLOGY INC | NAUT | 63909J108 | $13.4M | 1.79% | 7,172,985 | SH |
| 9 | NVIDIA CORPORATION | NVDA | 67066G104 | $10.8M | 1.45% | 54,224 | SH |
| 10 | PIMCO DYNAMIC INCOME OPRNTS | PDO | 69355M107 | $10.4M | 1.38% | 783,312 | SH |
| 11 | AMAZON COM INC | AMZN | 023135106 | $9.7M | 1.29% | 40,502 | SH |
| 12 | JAMES HARDIE INDS PLC | JHX | G4253H101 | $8.9M | 1.18% | 338,568 | SH |
| 13 | ISHARES INC | EWY | 464286772 | $8.7M | 1.16% | 43,201 | SH |
| 14 | SPDR SERIES TRUST | SPYD | 78468R788 | $8.3M | 1.11% | 174,939 | SH |
| 15 | QXO INC | QXO | 82846H405 | $8.3M | 1.11% | 482,875 | SH |
| 16 | SELECT SECTOR SPDR TR | XLE | 81369Y506 | $7.9M | 1.05% | 148,672 | SH |
| 17 | STATE STR SPDR S&P 500 ETF T | SPY | 78462F103 | $7.2M | 0.96% | 9,660 | SH |
| 18 | MICRON TECHNOLOGY INC | MU | 595112103 | $6.8M | 0.91% | 5,895 | SH |
| 19 | APPLE INC | AAPL | 037833100 | $6.8M | 0.91% | 23,508 | SH |
| 20 | NVIDIA CORPORATION | NVDA | 67066G104 | $6.7M | 0.90% | 33,589 | SH |
| 21 | GRAB HOLDINGS LIMITED | GRAB | G4124C109 | $6.0M | 0.80% | 1,600,000 | SH |
| 22 | XPO INC | XPO | 983793100 | $6.0M | 0.80% | 29,081 | SH |
| 23 | CAPITAL ONE FINL CORP | COF | 14040H105 | $5.8M | 0.77% | 28,692 | SH |
| 24 | INTERNATIONAL SEAWAYS INC | INSW | Y41053102 | $5.6M | 0.75% | 73,147 | SH |
| 25 | VULCAN MATLS CO | VMC | 929160109 | $5.5M | 0.73% | 18,658 | SH |
| 26 | ISHARES TR | IWM | 464287655 | $5.4M | 0.73% | 18,137 | SH |
| 27 | ELI LILLY & CO | LLY | 532457108 | $5.1M | 0.68% | 4,248 | SH |
| 28 | ISHARES INC | EWW | 464286822 | $4.8M | 0.64% | 63,900 | SH |
| 29 | BROADCOM INC | AVGO | 11135F101 | $4.7M | 0.62% | 12,325 | SH |
| 30 | ALPHABET INC | GOOG | 02079K107 | $4.6M | 0.62% | 13,160 | SH |
| 31 | SELECT SECTOR SPDR TR | XLV | 81369Y209 | $4.5M | 0.60% | 28,280 | SH |
| 32 | MICROSOFT CORP | MSFT | 594918104 | $4.4M | 0.59% | 11,901 | SH |
| 33 | ENTERPRISE PRODS PARTNERS L | EPD | 293792107 | $4.4M | 0.59% | 120,021 | SH |
| 34 | DOORDASH INC | DASH | 25809K105 | $4.4M | 0.58% | 23,640 | SH |
| 35 | ISHARES INC | EWZ | 464286400 | $4.2M | 0.56% | 121,776 | SH |
| 36 | JAZZ PHARMACEUTICALS PLC | JAZZ | G50871105 | $4.2M | 0.56% | 17,331 | SH |
| 37 | ALPHABET INC | GOOGL | 02079K305 | $4.2M | 0.55% | 11,620 | SH |
| 38 | ISHARES BITCOIN TRUST ETF | IBIT | 46438F101 | $3.9M | 0.52% | 117,140 | SH |
| 39 | LAM RESEARCH CORP | LRCX | 512807306 | $3.7M | 0.49% | 8,560 | SH |
| 40 | AMAZON COM INC | AMZN | 023135106 | $3.6M | 0.48% | 15,120 | SH |
| 41 | TPG RE FIN TR INC | TRTX | 87266M107 | $3.4M | 0.45% | 401,607 | SH |
| 42 | PIMCO ETF TR | MUNI | 72201R866 | $3.0M | 0.41% | 57,919 | SH |
| 43 | LAM RESEARCH CORP | LRCX | 512807306 | $2.8M | 0.38% | 6,550 | SH |
| 44 | MICROSOFT CORP | MSFT | 594918104 | $2.7M | 0.36% | 7,262 | SH |
| 45 | ALPHABET INC | GOOGL | 02079K305 | $2.6M | 0.35% | 7,373 | SH |
| 46 | STATE STR SPDR S&P MIDCAP 40 | MDY | 78467Y107 | $2.6M | 0.34% | 3,636 | SH |
| 47 | CATERPILLAR INC | CAT | 149123101 | $2.3M | 0.31% | 2,180 | SH |
| 48 | ISHARES TR | INDA | 46429B598 | $2.3M | 0.31% | 46,470 | SH |
| 49 | QUANTA SVCS INC | PWR | 74762E102 | $2.3M | 0.30% | 3,130 | SH |
| 50 | APPLE INC | AAPL | 037833100 | $2.2M | 0.29% | 7,604 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-13 | $1.04B | 159 | 0001062993-26-004240 |
| 2026-06-30 | 2026-08-14 | $749.9M | 155 | 0001062993-26-004352 |
| 2026-03-31 | 2026-05-13 | $2.32B | 167 | 0001062993-26-002563 |
| 2025-12-31 | 2026-02-10 | $2.64B | 171 | 0001062993-26-000745 |
| 2025-09-30 | 2025-11-07 | $2.61B | 173 | 0001062993-25-016553 |
Filer Information
Address
1110 112TH AVENUE NESUITE 202
BELLEVUE, WA 98004
Phone
(425) 371-7500
Filing Manager
Cercano Management LLC
BELLEVUE, WA
Signatory
Malinda Khauv
Chief Compliance Officer