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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
+6.86%
1 Year Est. Return
+8.82%
3 Year Est. Return
+40.54%
5 Year Est. Return
+42.79%
10 Year Est. Return
–
AUM
$4.78B
AUM Growth
+$124M
Cap. Flow
-$157M
Cap. Flow %
-3.29%
Top 10 Hldgs %
61.15%
Holding
29
New
1
Increased
4
Reduced
3
Closed
2

Top Buys

1
ICE icon
Intercontinental Exchange
ICE
+$77.9M
2
VZ icon
Verizon
VZ
+$48.4M
3
RIG icon
Transocean
RIG
+$21.3M
4
AMG icon
Affiliated Managers Group
AMG
+$19.3M
5
KMR
KINDER MORGAN MANAGEMENT LLC
KMR
+$205K

Top Sells

1
DVN icon
Devon Energy
DVN
+$129M
2
L icon
Loews
L
+$84.4M
3
APA icon
APA Corp
APA
+$60M
4
WTW icon
Willis Towers Watson
WTW
+$39.8M
5
EXR icon
Extra Space Storage
EXR
+$11.6M

Sector Composition

1 Financials 50.89%
2 Energy 42.6%
3 Communication Services 4.09%
4 Real Estate 2.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLB icon
1
SLB Ltd
SLB
$70.3B
$377M 7.89%
3,200,000
– –
EPD icon
2
Enterprise Products Partners
EPD
$82.6B
$368M 7.7%
9,400,000
– –
BNY
3
Bank of New York Mellon
BNY
$108B
$339M 7.09%
9,050,000
– –
CVX icon
4
Chevron
CVX
$373B
$326M 6.83%
2,500,000
– –
KMR
5
DELISTED
KINDER MORGAN MANAGEMENT LLC
KMR
$320M 6.7%
4,191,771
+2,880
+0.1% +$205K
WFC icon
6
Wells Fargo
WFC
$265B
$289M 6.05%
5,500,000
– –
BRK.B icon
7
Berkshire Hathaway Class B
BRK.B
$1.06T
$253M 5.29%
2,000,000
– –
AIG icon
8
American International
AIG
$42.7B
$221M 4.63%
4,052,602
– –
SU icon
9
Suncor Energy
SU
$73.7B
$216M 4.52%
5,070,000
– –
CME icon
10
CME Group
CME
$88.5B
$213M 4.45%
3,000,000
– –
STT icon
11
State Street
STT
$50.5B
$209M 4.37%
3,104,206
– –
VZ icon
12
Verizon
VZ
$182B
$196M 4.09%
4,000,000
+1,000,000
+33% +$48.4M
AON icon
13
Aon
AON
$78.4B
$176M 3.67%
1,950,000
– –
USB icon
14
US Bancorp
USB
$98.4B
$173M 3.62%
4,000,000
– –
ZION icon
15
Zions Bancorporation
ZION
$10.6B
$147M 3.08%
5,000,000
– –
JPM icon
16
JPMorgan Chase
JPM
$907B
$138M 2.89%
2,400,000
– –
PSX icon
17
Phillips 66
PSX
$82.9B
$118M 2.46%
1,464,724
– –
SWN
18
DELISTED
Southwestern Energy Company
SWN
$109M 2.28%
2,400,000
– –
L icon
19
Loews
L
$23.6B
$107M 2.24%
2,432,501
-1,932,907
-44% -$84.4M
RIG icon
20
Transocean
RIG
$5.69B
$84.4M 1.76%
1,873,552
+500,000
+36% +$21.3M
AMG icon
21
Affiliated Managers Group
AMG
$9.77B
$82.2M 1.72%
400,000
+100,000
+33% +$19.3M
COP icon
22
ConocoPhillips
COP
$140B
$77.2M 1.61%
900,000
– –
ICE icon
23
Intercontinental Exchange
ICE
$79B
$75.6M 1.58%
+2,000,000
New +$77.9M
CCI icon
24
Crown Castle
CCI
$34.6B
$74.3M 1.55%
1,000,000
– –
EXR icon
25
Extra Space Storage
EXR
$31.3B
$41.3M 0.86%
775,400
-224,600
-22% -$11.6M
1
2

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CC
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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 Q2 2014 Portfolio in Review

As of Q2 2014, Cortland Advisers held 29 positions worth $4.78B, up 2.7% from $4.66B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Cortland Advisers withdrew a net $157M in Q2 2014, closing 2 positions and reducing 3 holdings. Its most notable exit was Devon Energy, an estimated $129M position sold in full.

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

Against the trend, Cortland Advisers opened a new position in Intercontinental Exchange worth $75.6M.

  • Cortland Advisers's largest Q2 2014 buy was Intercontinental Exchange: 2,000,000 shares worth $75.6M.
  • Cortland Advisers added most to Verizon in Q2 2014, an estimated $48.4M increase.
  • Cortland Advisers's biggest Q2 2014 reduction was Loews, cutting an estimated $84.4M.
  • Cortland Advisers fully exited Devon Energy in Q2 2014, selling an estimated $129M.
  • Cortland Advisers's ten largest holdings make up 61% of its $4.78B portfolio in Q2 2014.
  • Cortland Advisers opened 1 new position and closed 2 in Q2 2014.
  • Cortland Advisers's portfolio value rose 2.7% quarter-over-quarter to $4.78B.

Based on Cortland Advisers's 13F filing for Q2 2014, filed 6 Aug 2014.