CYNOSURE MANAGEMENT, LLC

Fund of Funds

CYNOSURE MANAGEMENT, LLC is a Fund of Funds based in Salt Lake City, UT led by Randal Keith Quarles, reporting $6.6B in AUM as of Q3 2025 with 68% ETF concentration and 52% concentrated in top 10 holdings.

ChairmanRandal Keith Quarles

Portfolio Value: $920.7M
Positions: 371
Top Holding: SGOV at 13.79%
Last Reported: Q3 2025

Address111 South Main Street, Suite 2350, Salt Lake City, UT, 84111-1929, United States

Top Holdings

Largest long holdings in CYNOSURE MANAGEMENT, LLC's portfolio (52.3% of total portfolio)

See all holdings

GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares 0-3 Month Treasury Bond SGOV	ETF ETF	$127.0M	13.79%	+$7.6M Bought	— 1.3M shares	Q2 2023 Held for 2y 5m
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$65.7M	7.13%	+$354.4K Bought	— 98.6K shares	Q2 2023 Held for 2y 5m
3 iShares Short Treasury Bond SHV	ETF ETF	$61.8M	6.71%	-$106.1K Sold	— 558.9K shares	Q2 2023 Held for 2y 5m
4 iShares Russell 1000 Growth IWF	ETF ETF	$59.7M	6.48%	-$1.3M Sold	— 127.4K shares	Q2 2023 Held for 2y 5m
5 Vanguard S&P 500 ETF VOO	ETF ETF	$39.9M	4.33%	+$4.7M Bought	— 65.1K shares	Q2 2023 Held for 2y 5m
6 Vanguard Russell 1000 Growth VONG	ETF ETF	$30.8M	3.34%	+$130.4K Bought	— 255.3K shares	Q1 2025 Held for 8 months
7 Invesco QQQ Trust QQQ	ETF ETF	$27.3M	2.96%	+$2.2M Bought	— 45.4K shares	Q2 2023 Held for 2y 5m
8 iShares Core S&P 500 ETF IVV	ETF ETF	$26.5M	2.88%	-$3.5M Sold	— 39.6K shares	Q4 2018 Held for 6y 11m
9 BlackRock Ultra Short-Term Bond ICSH	ETF ETF	$22.3M	2.42%	-$427.5K Sold	— 438.8K shares	Q2 2023 Held for 2y 5m
10 SPYV SPDR Portfolio S&P 500 Value ETF SPYV	ETF ETF	$20.8M	2.26%	+$278.4K Bought	— 375.5K shares	Q2 2023 Held for 2y 5m

See all holdings

GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in CYNOSURE MANAGEMENT, LLC's latest filing

See all changes

GthenC

Market Value

$920.7M

Prior: $882.4M

Q/Q Change

+4.34%

+$38.3M

Net Flows % of MV

-0.458%

Turnover Ratio

6.03%

New Purchases

11 stocks

$16.4M

Added To

35 stocks

+$35.5M

Sold Out Of

24 stocks

$15.4M

Reduced Holdings

71 stocks

-$40.7M

Increased Positions

Position	Shares Δ	Change
1 BRCB Black Rock Coffee Bar, Inc. Class A Common Stock BRCB	New	0 → 316.0K +$7.5M
2 Spotify Technology SPOT	New	0 → 4.1K +$2.9M
3 Vanguard Total Bond Market BND	New	0 → 19.3K +$1.4M
4 Vanguard Intermediate-Term Corporate Bond VCIT	New	0 → 14.9K +$1.3M
5 Vanguard Intermediate-Term Treasury VGIT	New	0 → 11.2K +$669.5K

Decreased Positions

Position	Shares Δ	Change
1 First Trust Dow Jones Internet Index Fund FDN	Sold	6.6K → 0 −$1.8M
2 Hess HES	Sold	9.2K → 0 −$1.3M
3 Vistra VST	Sold	5.0K → 0 −$968.7K
4 Comfort Systems USA FIX	Sold	1.8K → 0 −$953.4K
5 Limbach Holdings, Inc. LMB	Sold	6.5K → 0 −$911.8K