Cortland Advisers’s Bank of New York Mellon BK Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2019 Q3	–	Sell	-808,956	Closed	-$35.7M	–	33
2019 Q2	$35.7M	Sell	808,956 -875,500	-52%	-$38.7M	1.66%	25
2019 Q1	$84.9M	Hold	1,684,456	–	–	3.64%	9
2018 Q4	$79.3M	Sell	1,684,456 -165,009	-9%	-$7.77M	3.73%	8
2018 Q3	$94.3M	Sell	1,849,465 -144,249	-7%	-$7.36M	4.78%	8
2018 Q2	$108M	Sell	1,993,714 -305,491	-13%	-$16.5M	5.24%	7
2018 Q1	$118M	Sell	2,299,205 -632,500	-22%	-$32.6M	5.43%	8
2017 Q4	$158M	Sell	2,931,705 -234,655	-7%	-$12.6M	7.25%	2
2017 Q3	$168M	Sell	3,166,360 -87,836	-3%	-$4.66M	7.69%	2
2017 Q2	$166M	Sell	3,254,196 -567,905	-15%	-$29M	8%	2
2017 Q1	$181M	Buy	3,822,101 +4,680	+0.1%	+$221K	8.54%	2
2016 Q4	$181M	Sell	3,817,421 -69,104	-2%	-$3.27M	8.94%	1
2016 Q3	$155M	Sell	3,886,525 -1,748,710	-31%	-$69.7M	7.95%	2
2016 Q2	$219M	Sell	5,635,235 -1,165,911	-17%	-$45.3M	7.72%	1
2016 Q1	$250M	Sell	6,801,146 -698,854	-9%	-$25.7M	7.43%	1
2015 Q4	$309M	Hold	7,500,000	–	–	8.09%	1
2015 Q3	$294M	Hold	7,500,000	–	–	7.31%	1
2015 Q2	$315M	Sell	7,500,000 -1,550,000	-17%	-$65.1M	6.56%	2
2015 Q1	$364M	Hold	9,050,000	–	–	7.94%	2
2014 Q4	$367M	Hold	9,050,000	–	–	8.3%	2
2014 Q3	$351M	Hold	9,050,000	–	–	7.67%	3
2014 Q2	$339M	Hold	9,050,000	–	–	7.09%	3
2014 Q1	$319M	Hold	9,050,000	–	–	6.86%	2
2013 Q4	$316M	Hold	9,050,000	–	–	6.51%	1
2013 Q3	$273M	Hold	9,050,000	–	–	5.92%	5
2013 Q2	$254M	Buy	+9,050,000	New	+$254M	5.68%	4