Cortland Advisers’s Verizon VZ Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-460,280	Closed	-$23.9M	–	31
2016 Q3	$23.9M	Sell	460,280 -590,084	-56%	-$30.7M	1.23%	26
2016 Q2	$58.7M	Sell	1,050,364 -1,323,854	-56%	-$73.9M	2.07%	18
2016 Q1	$128M	Sell	2,374,218 -825,782	-26%	-$44.7M	3.81%	12
2015 Q4	$148M	Hold	3,200,000	–	–	3.87%	11
2015 Q3	$139M	Sell	3,200,000 -800,000	-20%	-$34.8M	3.47%	13
2015 Q2	$186M	Hold	4,000,000	–	–	3.88%	11
2015 Q1	$195M	Hold	4,000,000	–	–	4.24%	11
2014 Q4	$187M	Hold	4,000,000	–	–	4.23%	11
2014 Q3	$200M	Hold	4,000,000	–	–	4.38%	11
2014 Q2	$196M	Buy	4,000,000 +1,000,000	+33%	+$48.9M	4.09%	12
2014 Q1	$143M	Hold	3,000,000	–	–	3.06%	17
2013 Q4	$147M	Hold	3,000,000	–	–	3.04%	18
2013 Q3	$140M	Buy	+3,000,000	New	+$140M	3.04%	18