Cercano Management 13F annual report

Cercano Management is an investment fund managing more than $3.75 trillion ran by Malinda Khauv. There are currently 94 companies in Mrs. Khauv’s portfolio. The largest investments include Microsoft and XPO Inc, together worth $926 billion.

Limited to 30 biggest holdings

$3.75 trillion Assets Under Management (AUM)

As of 6th August 2024, Cercano Management’s top holding is 1,325,031 shares of Microsoft currently worth over $592 billion and making up 15.8% of the portfolio value. Relative to the number of outstanding shares of Microsoft, Cercano Management owns more than approximately 0.1% of the company. In addition, the fund holds 3,142,027 shares of XPO Inc worth $334 billion, whose value fell 3.1% in the past six months. The third-largest holding is Union Pac Corp worth $241 billion and the next is Amazon.com worth $129 billion, with 665,357 shares owned.

Currently, Cercano Management's portfolio is worth at least $3.75 trillion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Cercano Management

The Cercano Management office and employees reside in Bellevue, Washington. According to the last 13-F report filed with the SEC, Malinda Khauv serves as the Chief Compliance Officer at Cercano Management.

Recent trades

In the most recent 13F filing, Cercano Management revealed that it had opened a new position in Hilton Worldwide Inc and bought 174,953 shares worth $38.2 billion. This means they effectively own approximately 0.1% of the company. Hilton Worldwide Inc makes up 13.0% of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year.

The investment fund also strengthened its position in XPO Inc by buying 2,820 additional shares. This makes their stake in XPO Inc total 3,142,027 shares worth $334 billion. XPO Inc dropped approximately 0.1% in the past year.

On the other hand, there are companies that Cercano Management is getting rid of from its portfolio. Cercano Management closed its position in Willscot Mobil Mini Hldng Co on 13th August 2024. It sold the previously owned 1,169,703 shares for $54.4 billion. Malinda Khauv also disclosed a decreased stake in Microsoft by approximately 0.1%. This leaves the value of the investment at $592 billion and 1,325,031 shares.

One of the largest hedge funds

The two most similar investment funds to Cercano Management are Jericho Capital Asset Management L.P. and Marathon Asset Management Ltd. They manage $3.75 trillion and $3.75 trillion respectively.


Malinda Khauv investment strategy

Cercano Management’s portfolio is diversified across 11 sectors. Currently, their heaviest sector is Technology — making up 27.7% of the total portfolio value. The fund focuses on investments in the United States as 48.9% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 30% of the total holdings value. On the other hand, small-cap stocks make up only 2.1% of the portfolio. The average market cap of the portfolio companies is close to $162 billion.

The complete list of Cercano Management trades based on 13F SEC filings

These positions were updated on August 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Microsoft Corporation
3.35%
1,325,031
$592,222,606,000 15.80%
XPO Inc
0.09%
3,142,027
$333,526,166,000 8.90%
Union Pac Corp
1.86%
1,067,304
$241,488,203,000 6.44%
Amazon.com Inc.
14.86%
665,357
$128,580,241,000 3.43%
NV5 Global Inc
2.53%
1,271,194
$118,182,906,000 3.15%
Spdr S&p 500 Etf Tr
762.63%
181,566
$99,111,352,000 2.64%
Alphabet Inc
3.15%
652,739
$119,516,868,000 3.19%
Apple Inc
84.58%
414,808
$87,366,861,000 2.33%
Schwab Charles Corp
4.88%
1,134,760
$83,620,464,000 2.23%
NVIDIA Corp
906.05%
668,900
$82,635,906,000 2.20%
Moodys Corp
No change
196,076
$82,534,271,000 2.20%
Unitedhealth Group Inc
13.61%
137,626
$70,087,417,000 1.87%
Visa Inc
No change
258,188
$67,766,604,000 1.81%
Invesco Exchange Traded Fd T
No change
390,945
$64,224,445,000 1.71%
Uber Technologies Inc
No change
857,708
$62,338,217,000 1.66%
JFrog Ltd
10.31%
1,603,749
$60,220,775,000 1.61%
S&P Global Inc
No change
126,414
$56,380,644,000 1.50%
Danaher Corp.
No change
219,699
$54,891,795,000 1.46%
Dbx Etf Tr
No change
1,537,172
$54,508,119,000 1.45%
KLA Corp.
65.92%
66,059
$54,466,306,000 1.45%
Willscot Mobil Mini Hldng Co
Closed
1,169,703
$54,391,190,000
Western Alliance Bancorp
26.87%
798,987
$50,192,363,000 1.34%
Cadence Design System Inc
0.54%
146,636
$45,127,229,000 1.20%
Spdr S&p Midcap 400 Etf Tr
691.98%
83,934
$44,954,429,000 1.20%
Regeneron Pharmaceuticals, Inc.
8.06%
41,489
$43,606,184,000 1.16%
Mr. Cooper Group Inc
5.91%
532,314
$43,239,866,000 1.15%
Mckesson Corporation
27.29%
72,335
$42,246,533,000 1.13%
Lennar Corp.
88.18%
266,345
$39,917,125,000 1.06%
e.l.f. Beauty Inc
9.55%
187,346
$39,477,549,000 1.05%
Martin Marietta Matls Inc
44.13%
72,202
$39,119,044,000 1.04%
Marvell Technology Inc
0.54%
552,708
$38,634,289,000 1.03%
Hilton Worldwide Holdings Inc
Opened
174,953
$38,174,745,000 1.02%
Select Sector Spdr Tr
Opened
163,086
$36,894,946,000 0.98%
Advanced Drain Sys Inc Del
93.32%
228,680
$36,677,985,000 0.98%
West Pharmaceutical Svsc Inc
Closed
92,398
$36,562,813,000
Vertex Pharmaceuticals, Inc.
0.60%
70,959
$33,259,902,000 0.89%
American Intl Group Inc
0.60%
411,122
$30,521,697,000 0.81%
Arch Cap Group Ltd
2.91%
298,380
$30,103,558,000 0.80%
Pimco Etf Tr
49.69%
576,296
$30,001,970,000 0.80%
Interactive Brokers Group In
0.61%
219,925
$26,962,805,000 0.72%
Meta Platforms Inc
Closed
55,201
$26,804,502,000
Monolithic Pwr Sys Inc
Opened
31,379
$25,783,497,000 0.69%
Dexcom Inc
4.05%
227,250
$25,765,605,000 0.69%
Ssga Active Etf Tr
14.68%
558,699
$23,353,618,000 0.62%
Progyny Inc
0.56%
791,375
$22,641,239,000 0.60%
East West Bancorp, Inc.
45.89%
294,814
$21,589,229,000 0.58%
Vaxcyte, Inc.
0.54%
273,608
$20,660,140,000 0.55%
Grab Holdings Limited
No change
5,286,833
$18,768,257,000 0.50%
Veeva Sys Inc
5.40%
99,167
$18,148,553,000 0.48%
Workday Inc
25.79%
80,996
$18,107,466,000 0.48%
Sherwin-Williams Co.
42.05%
56,570
$16,882,185,000 0.45%
Nautilus Biotechnology Inc
No change
7,172,985
$16,784,785,000 0.45%
Atlanta Braves Holdings Inc
No change
395,678
$15,605,540,000 0.42%
Mastercard Incorporated
No change
35,163
$15,512,509,000 0.41%
Palo Alto Networks Inc
Closed
54,546
$15,498,155,000
Builders Firstsource Inc
Opened
106,921
$14,798,936,000 0.39%
Denali Therapeutics Inc
No change
625,000
$14,512,500,000 0.39%
Lamb Weston Holdings Inc
Closed
135,054
$14,387,303,000
Hillman Solutions Corp
0.63%
1,620,893
$14,344,903,000 0.38%
Datadog Inc
774.33%
109,789
$14,238,535,000 0.38%
Canadian Pacific Kansas City
31.39%
161,892
$12,745,757,000 0.34%
Welltower Inc.
No change
115,822
$12,074,444,000 0.32%
Ishares Tr
25.44%
127,255
$12,263,711,000 0.33%
Oaktree Specialty Lending Co
36.96%
603,189
$11,345,985,000 0.30%
Vanguard World Fd
Closed
45,394
$11,082,945,000
Triumph Financial Inc
Opened
134,176
$10,968,888,000 0.29%
Lowes Cos Inc
1.81%
49,186
$10,843,546,000 0.29%
Blacksky Technology Inc
No change
9,951,809
$10,648,436,000 0.28%
Spdr Gold Tr
Closed
50,460
$10,380,631,000
Alexandria Real Estate Eq In
Closed
77,157
$9,946,309,000
Prologis Inc
Closed
75,438
$9,823,536,000
Remitly Global Inc
No change
760,175
$9,213,321,000 0.25%
Invitation Homes Inc
No change
256,214
$9,195,520,000 0.25%
Laureate Education Inc
Closed
606,068
$8,830,411,000
Lionsgate Studios Corp
Opened
983,767
$7,929,162,000 0.21%
OneMain Holdings Inc
18.72%
158,187
$7,670,488,000 0.20%
Energy Transfer L P
No change
438,495
$7,112,389,000 0.19%
International Seaways Inc
91.25%
119,085
$7,041,496,000 0.19%
Samsara Inc.
Opened
206,885
$6,972,025,000 0.19%
Dynatrace Inc
76.61%
144,783
$6,477,591,000 0.17%
P10 Inc
Closed
742,412
$6,251,109,000
Vanguard Index Fds
No change
10,935
$5,488,424,000 0.15%
Blue Owl Capital Corporation
0.32%
352,975
$5,421,696,000 0.14%
Spdr Ser Tr
No change
310,000
$10,278,900,000 0.27%
Recursion Pharmaceuticals In
No change
685,018
$5,137,635,000 0.14%
Ishares Inc
No change
138,000
$5,112,900,000 0.14%
Payoneer Global Inc
No change
800,000
$4,432,000,000 0.12%
Kinross Gold Corp.
No change
529,101
$4,402,120,000 0.12%
Perficient Inc.
Closed
75,426
$4,245,730,000
Spdr Ser Tr
Opened
90,000
$4,175,100,000 0.11%
Eaton Corp Plc
No change
12,446
$3,902,443,000 0.10%
AT&T Inc.
No change
203,430
$3,887,547,000 0.10%
Transdigm Group Incorporated
Opened
3,035
$3,877,546,000 0.10%
Wheaton Precious Metals Corp
No change
69,124
$3,623,480,000 0.10%
Pimco Dynamic Income Oprnts
Opened
262,566
$3,489,502,000 0.09%
Enterprise Prods Partners L
No change
120,021
$3,478,209,000 0.09%
Tpg Re Fin Tr Inc
Opened
401,607
$3,469,884,000 0.09%
Altria Group Inc.
No change
76,086
$3,465,717,000 0.09%
Energy Fuels Inc
No change
445,104
$2,697,330,000 0.07%
Atlassian Corporation
No change
13,239
$2,341,714,000 0.06%
Outfront Media Inc
Opened
134,499
$1,923,336,000 0.05%
Western Un Co
Opened
149,869
$1,831,399,000 0.05%
BlackRock TCP Capital Corp
583.12%
148,400
$1,602,720,000 0.04%
Glacier Bancorp, Inc.
Closed
37,424
$1,507,439,000
Starwood Ppty Tr Inc
589.67%
79,029
$1,496,809,000 0.04%
Chevron Corp.
Closed
4,407
$695,160,000
British Amern Tob Plc
Closed
7,400
$225,700,000
Vodafone Group plc
Closed
11,000
$97,900,000
Unity Biotechnology Inc
No change
41,238
$55,671,000 0.00%
Banzai International Inc
No change
105,412
$17,920,000 0.00%
No transactions found
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