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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
+1.07%
1 Year Est. Return
+8.82%
3 Year Est. Return
+40.54%
5 Year Est. Return
+42.79%
10 Year Est. Return
–
AUM
$4.66B
AUM Growth
-$200M
Cap. Flow
-$226M
Cap. Flow %
-4.84%
Top 10 Hldgs %
58.06%
Holding
29
New
–
Increased
2
Reduced
8
Closed
1

Top Buys

Rank Stock Value
1
CCI icon
Crown Castle
CCI
+$36.7M
2
KMR
KINDER MORGAN MANAGEMENT LLC
KMR
+$11.7K

Top Sells

Rank Stock Value
1
APA icon
APA Corp
APA
+$78.6M
2
DVN icon
Devon Energy
DVN
+$60.5M
3
CHK
Chesapeake Energy Corporation
CHK
+$45.4M
4
JPM icon
JPMorgan Chase
JPM
+$37.6M
5
L icon
Loews
L
+$15M

Sector Composition

Rank Sector Weight
1 Financials 52.03%
2 Energy 42.28%
3 Communication Services 3.06%
4 Real Estate 2.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EPD icon
1
Enterprise Products Partners
EPD
$83.8B
$326M 7%
9,400,000
– –
BNY
2
Bank of New York Mellon
BNY
$108B
$319M 6.86%
9,050,000
– –
SLB icon
3
SLB Ltd
SLB
$77.8B
$312M 6.7%
3,200,000
– –
CVX icon
4
Chevron
CVX
$388B
$297M 6.38%
2,500,000
– –
KMR
5
DELISTED
KINDER MORGAN MANAGEMENT LLC
KMR
$286M 6.13%
4,188,891
+169
+0% +$11.7K
WFC icon
6
Wells Fargo
WFC
$261B
$274M 5.87%
5,500,000
– –
BRK.B icon
7
Berkshire Hathaway Class B
BRK.B
$1.07T
$250M 5.37%
2,000,000
– –
CME icon
8
CME Group
CME
$92.2B
$222M 4.77%
3,000,000
– –
STT icon
9
State Street
STT
$50.9B
$216M 4.64%
3,104,206
– –
AIG icon
10
American International
AIG
$41.9B
$203M 4.35%
4,052,602
-247,398
-6% -$12.3M
L icon
11
Loews
L
$24.3B
$192M 4.13%
4,365,408
-334,592
-7% -$15M
SU icon
12
Suncor Energy
SU
$77.7B
$177M 3.81%
5,070,000
– –
USB icon
13
US Bancorp
USB
$99.6B
$171M 3.68%
4,000,000
– –
AON icon
14
Aon
AON
$77.3B
$164M 3.53%
1,950,000
-50,000
-3% -$4.16M
ZION icon
15
Zions Bancorporation
ZION
$10.1B
$155M 3.33%
5,000,000
– –
JPM icon
16
JPMorgan Chase
JPM
$939B
$146M 3.13%
2,400,000
-650,000
-21% -$37.6M
VZ icon
17
Verizon
VZ
$194B
$143M 3.06%
3,000,000
– –
DVN icon
18
Devon Energy
DVN
$51.9B
$129M 2.77%
1,925,000
-975,000
-34% -$60.5M
PSX icon
19
Phillips 66
PSX
$82.9B
$113M 2.42%
1,464,724
– –
SWN
20
DELISTED
Southwestern Energy Company
SWN
$110M 2.37%
2,400,000
– –
CCI icon
21
Crown Castle
CCI
$32.7B
$73.8M 1.58%
1,000,000
+500,000
+100% +$36.7M
COP icon
22
ConocoPhillips
COP
$147B
$63.3M 1.36%
900,000
– –
AMG icon
23
Affiliated Managers Group
AMG
$9.46B
$60M 1.29%
300,000
– –
APA icon
24
APA Corp
APA
$12.8B
$60M 1.29%
723,081
-958,050
-57% -$78.6M
RIG icon
25
Transocean
RIG
$5.92B
$56.8M 1.22%
1,373,552
-26,448
-2% -$1.15M
1
2

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CC
CQS Cayman Camana Bay, Grand Cayman, Cayman Islands $2.26B AUM 1.31% 1-Year Est. Return
STMM
South Texas Money Management San Antonio, Texas $2.37B AUM 5.24% 1-Year Est. Return
BA
Boston Advisors Boston, Massachusetts $1.91B AUM 6.26% 1-Year Est. Return
GVI
Green Valley Investors Wilmington, Delaware $1.76B AUM 5.64% 1-Year Est. Return
RCM
Riverhead Capital Management Wilmington, Delaware $2.71B AUM 2.34% 1-Year Est. Return
GMI
Greystone Managed Investments Regina, Saskatchewan, Canada $1.65B AUM 7.9% 1-Year Est. Return
AWM
Ashmore Wealth Management Wilmington, Delaware $1.58B AUM 9.28% 1-Year Est. Return
TAM
Tiverton Asset Management Wilimington, Delaware $2.88B AUM 5.6% 1-Year Est. Return

Cortland Advisers's Q1 2014 Portfolio in Review

As of Q1 2014, Cortland Advisers held 29 positions worth $4.66B, down 4.1% from $4.86B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Cortland Advisers withdrew a net $226M in Q1 2014, closing 1 position and reducing 8 holdings. Its most notable exit was Chesapeake Energy Corporation, an estimated $45.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 52% of assets, up from 51% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Cortland Advisers added an estimated $36.7M to Crown Castle.

  • Cortland Advisers added most to Crown Castle in Q1 2014, an estimated $36.7M increase.
  • Cortland Advisers's biggest Q1 2014 reduction was APA Corp, cutting an estimated $78.6M.
  • Cortland Advisers fully exited Chesapeake Energy Corporation in Q1 2014, selling an estimated $45.4M.
  • Cortland Advisers's ten largest holdings make up 58% of its $4.66B portfolio in Q1 2014.
  • Cortland Advisers opened 0 new positions and closed 1 in Q1 2014.
  • Cortland Advisers's portfolio value fell 4.1% quarter-over-quarter to $4.66B.

Based on Cortland Advisers's 13F filing for Q1 2014, filed 7 May 2014.