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Cortland Advisers Portfolio holdings

AUM $2.18B
1-Year Est. Return 8.82%
This Fund
S&P 500
This Quarter Est. Return
-9.04%
1 Year Est. Return
+8.82%
3 Year Est. Return
+40.54%
5 Year Est. Return
+42.79%
10 Year Est. Return
–
AUM
$4.02B
AUM Growth
-$785M
Cap. Flow
-$338M
Cap. Flow %
-8.43%
Top 10 Hldgs %
55.31%
Holding
36
New
–
Increased
3
Reduced
6
Closed
3

Top Buys

Rank Stock Value
1
NEE icon
NextEra Energy
NEE
+$102M
2
RY icon
Royal Bank of Canada
RY
+$28.5M
3
STR
QUESTAR CORP
STR
+$20.4M

Top Sells

Rank Stock Value
1
EPD icon
Enterprise Products Partners
EPD
+$281M
2
PSX icon
Phillips 66
PSX
+$54.8M
3
SWN
Southwestern Energy Company
SWN
+$54.6M
4
VZ icon
Verizon
VZ
+$36.9M
5
STT icon
State Street
STT
+$20.8M

Sector Composition

Rank Sector Weight
1 Financials 54.95%
2 Energy 25.51%
3 Utilities 9.72%
4 Real Estate 6.35%
5 Communication Services 3.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AEP icon
26
American Electric Power
AEP
$70.4B
$45.5M 1.13%
800,000
– –
BNS icon
27
Scotiabank
BNS
$105B
$44.1M 1.1%
1,034,917
-11,061
-1% -$498K
COP icon
28
ConocoPhillips
COP
$144B
$43.2M 1.07%
900,000
– –
STR
29
DELISTED
QUESTAR CORP
STR
$38.8M 0.97%
2,000,000
+1,000,000
+100% +$20.4M
AES icon
30
AES
AES
$10.6B
$34.3M 0.85%
3,500,000
– –
XOM icon
31
ExxonMobil
XOM
$650B
$29.7M 0.74%
400,000
– –
NWE icon
32
NorthWestern Energy
NWE
$4.34B
$26.9M 0.67%
500,000
– –
D icon
33
Dominion Energy
D
$62B
$21.1M 0.53%
300,000
– –
EPD icon
34
Enterprise Products Partners
EPD
$83.7B
– –
-9,400,000
Closed -$281M
SWN
35
DELISTED
Southwestern Energy Company
SWN
– –
-2,400,000
Closed -$54.6M
TLN
36
DELISTED
Talen Energy Corporation
TLN
– –
-187,359
Closed -$3.21M
1
2

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Cortland Advisers's Q3 2015 Portfolio in Review

As of Q3 2015, Cortland Advisers held 36 positions worth $4.02B, down 16% from $4.8B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Cortland Advisers withdrew a net $338M in Q3 2015, closing 3 positions and reducing 6 holdings. Its most notable exit was Enterprise Products Partners, an estimated $281M position sold in full.

By sector, the portfolio is most concentrated in Financials at 55% of assets, up from 50% a quarter earlier, followed by Energy and Utilities.

Against the trend, Cortland Advisers added an estimated $102M to NextEra Energy.

  • Cortland Advisers added most to NextEra Energy in Q3 2015, an estimated $102M increase.
  • Cortland Advisers's biggest Q3 2015 reduction was Phillips 66, cutting an estimated $54.8M.
  • Cortland Advisers fully exited Enterprise Products Partners in Q3 2015, selling an estimated $281M.
  • Cortland Advisers's ten largest holdings make up 55% of its $4.02B portfolio in Q3 2015.
  • Cortland Advisers opened 0 new positions and closed 3 in Q3 2015.
  • Cortland Advisers's portfolio value fell 16% quarter-over-quarter to $4.02B.

Based on Cortland Advisers's 13F filing for Q3 2015, filed 12 Nov 2015.