{
  "crd_number": 315897,
  "slug": "cercano-management-llc-bellevue-wa-315897",
  "primary_business_name": "CERCANO MANAGEMENT LLC",
  "legal_name": "CERCANO MANAGEMENT LLC",
  "dbas": [],
  "city": "Bellevue",
  "state": "WA",
  "country": "United States",
  "cbsa_code": "42660",
  "metro": {
    "cbsa_code": "42660",
    "common_name": "Seattle",
    "msa_name": "Seattle-Tacoma-Bellevue, WA",
    "path": "/advisors/wa/seattle"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2021-12-30",
  "years_registered": 4,
  "period": "2026-10-01",
  "filing_date": "2026-09-08",
  "carried_forward": false,
  "raum_total": 7281283635.0,
  "raum_discretionary": 7043063903.0,
  "raum_non_discretionary": 238219732.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 62,
  "advisory_employees": 25,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 216432.0,
      "count": 0,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 0.0,
      "count": 0
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 589856019.0,
      "count": 6
    },
    "pooled_investment_vehicles": {
      "raum": 6288023211.0,
      "count": 27
    },
    "corporations_other_businesses": {
      "raum": 403187973.0,
      "count": 0,
      "fewer_than_5": true
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "TX",
    "WA"
  ],
  "websites": [
    "https://cercanolp.com",
    "https://linkedin.com/company/cercano-management"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/315897",
  "city_as_filed": "BELLEVUE",
  "url": "https://advisorcensus.com/firm/cercano-management-llc-bellevue-wa-315897",
  "display_name": "Cercano Management LLC",
  "summary": "Cercano Management LLC is an SEC-registered investment advisory firm in Bellevue, WA, registered since 2021, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 8, 2026.",
  "citation": "AdvisorCensus. Cercano Management LLC (CRD 315897): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Cercano Management LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Cercano Management LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); performance-based fees."
    },
    {
      "q": "Where is Cercano Management LLC located?",
      "a": "Cercano Management LLC's principal office is in Bellevue, WA, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Cercano Management LLC registered with the SEC or a state?",
      "a": "Cercano Management LLC is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 315897."
    },
    {
      "q": "How much does Cercano Management LLC manage?",
      "a": "Cercano Management LLC reports $7,281,283,635 in regulatory assets under management in its Form ADV filing dated September 8, 2026 (97% discretionary)."
    },
    {
      "q": "How have Cercano Management LLC's assets and staff changed since 2022?",
      "a": "In the Form ADV data for Cercano Management LLC: Regulatory assets under management: $8,035,585,163 in the October 2022 data and $7,281,283,635 in the October 2026 data, down 9%. Total employees: 45 in October 2022 and 62 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Cercano Management LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (27); high net worth individuals (6)."
    },
    {
      "q": "Which custodians does Cercano Management LLC use?",
      "a": "Cercano Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Goldman Sachs & Co. LLC, JPM and National Financial Services LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Cercano Management LLC report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/315897"
    },
    {
      "q": "What changed in Cercano Management LLC's recent Form ADV filings?",
      "a": "In the October 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 8035585163.0,
      "total_employees": 45,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 8000289154.0,
      "total_employees": 45,
      "filing_date": "2023-08-25"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 10483204374.0,
      "total_employees": 70,
      "filing_date": "2024-09-05"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 10518414764.0,
      "total_employees": 73,
      "filing_date": "2025-07-22"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 7281283635.0,
      "total_employees": 62,
      "filing_date": "2026-09-08"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-08-01",
      "period_label": "August 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-07-01",
      "period_label": "July 2026",
      "notes": [
        "Employees performing advisory functions went from 28 to 25.",
        "Regulatory assets under management went from $10,625,144,063 to $7,281,283,635 (-31%).",
        "No longer lists an office in Atlanta, GA."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Registered or notice-filed in CA, TX."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "Goldman Sachs & Co. LLC",
      "name_as_filed": "GOLDMAN SACHS & CO. LLC",
      "affiliated": false
    },
    {
      "name": "JPM",
      "name_as_filed": "JPM",
      "affiliated": false
    },
    {
      "name": "National Financial Services LLC",
      "name_as_filed": "NATIONAL FINANCIAL SERVICES LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/cercano-management-llc-bellevue-wa-315897.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 6,
      "fewer_than_5": false,
      "raum": 589856019.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 27,
      "fewer_than_5": false,
      "raum": 6288023211.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": true,
      "raum": 216432.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": true,
      "raum": 403187973.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/315897",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}