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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
+0.87%
1 Year Est. Return
+8.82%
3 Year Est. Return
+40.54%
5 Year Est. Return
+42.79%
10 Year Est. Return
–
AUM
$4.57B
AUM Growth
-$211M
(-4.4%)
Cap. Flow
-$197M
Cap. Flow
% of AUM
-4.31%
Top 10 Holdings %
Top 10 Hldgs %
65.43%
Holding
28
New
1
Increased
–
Reduced
1
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Southern Company
SO
|
+$43.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Loews
L
|
+$107M |
| 2 |
Aon
AON
|
+$83M |
| 3 |
Extra Space Storage
EXR
|
+$41.3M |
| 4 |
Willis Towers Watson
WTW
|
+$9.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 50.37% |
| 2 | Energy | 42.53% |
| 3 | Communication Services | 4.38% |
| 4 | Real Estate | 1.76% |
| 5 | Utilities | 0.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
KMR
1
DELISTED
KINDER MORGAN MANAGEMENT LLC
KMR
| $389M | 8.51% |
4,191,771
| – | – |
|
2
Enterprise Products Partners
EPD
$83.8B
| $379M | 8.29% |
9,400,000
| – | – |
|
|
BNY
3
Bank of New York Mellon
BNY
$108B
| $351M | 7.67% |
9,050,000
| – | – |
|
4
SLB Ltd
SLB
$77.8B
| $325M | 7.12% |
3,200,000
| – | – |
|
5
Chevron
CVX
$388B
| $298M | 6.53% |
2,500,000
| – | – |
|
6
Wells Fargo
WFC
$261B
| $285M | 6.24% |
5,500,000
| – | – |
|
7
Berkshire Hathaway Class B
BRK.B
$1.07T
| $276M | 6.04% |
2,000,000
| – | – |
|
8
CME Group
CME
$92.2B
| $240M | 5.25% |
3,000,000
| – | – |
|
9
State Street
STT
$50.9B
| $229M | 5% |
3,104,206
| – | – |
|
10
American International
AIG
$41.9B
| $219M | 4.79% |
4,052,602
| – | – |
|
11
Verizon
VZ
$194B
| $200M | 4.38% |
4,000,000
| – | – |
|
12
Suncor Energy
SU
$77.7B
| $183M | 4.01% |
5,070,000
| – | – |
|
13
US Bancorp
USB
$99.6B
| $167M | 3.66% |
4,000,000
| – | – |
|
14
Zions Bancorporation
ZION
$10.1B
| $145M | 3.18% |
5,000,000
| – | – |
|
15
JPMorgan Chase
JPM
$939B
| $145M | 3.16% |
2,400,000
| – | – |
|
16
Phillips 66
PSX
$82.9B
| $119M | 2.61% |
1,464,724
| – | – |
|
|
17
Aon
AON
$77.3B
| $87.7M | 1.92% |
1,000,000
-950,000
| -49% | -$83M |
|
|
SWN
18
DELISTED
Southwestern Energy Company
SWN
| $83.9M | 1.84% |
2,400,000
| – | – |
|
19
Crown Castle
CCI
$32.7B
| $80.5M | 1.76% |
1,000,000
| – | – |
|
20
Affiliated Managers Group
AMG
$9.46B
| $80.1M | 1.75% |
400,000
| – | – |
|
21
Intercontinental Exchange
ICE
$82.4B
| $78M | 1.71% |
2,000,000
| – | – |
|
22
ConocoPhillips
COP
$147B
| $68.9M | 1.51% |
900,000
| – | – |
|
23
Transocean
RIG
$5.92B
| $59.9M | 1.31% |
1,873,552
| – | – |
|
|
24
Southern Company
SO
$110B
| $43.7M | 0.96% |
+1,000,000
| New | +$43.9M |
|
25
ExxonMobil
XOM
$651B
| $37.6M | 0.82% |
400,000
| – | – |
|
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Cortland Advisers's Q3 2014 Portfolio in Review
As of Q3 2014, Cortland Advisers held 28 positions worth $4.57B, down 4.4% from $4.78B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Cortland Advisers withdrew a net $197M in Q3 2014, closing 3 positions and reducing 1 holding. Its most notable exit was Loews, an estimated $107M position sold in full.
By sector, the portfolio is most concentrated in Financials at 50% of assets, down from 51% a quarter earlier, followed by Energy and Communication Services.
Against the trend, Cortland Advisers opened a new position in Southern Company worth $43.7M.
- Cortland Advisers's largest Q3 2014 buy was Southern Company: 1,000,000 shares worth $43.7M.
- Cortland Advisers's biggest Q3 2014 reduction was Aon, cutting an estimated $83M.
- Cortland Advisers fully exited Loews in Q3 2014, selling an estimated $107M.
- Cortland Advisers's ten largest holdings make up 65% of its $4.57B portfolio in Q3 2014.
- Cortland Advisers opened 1 new position and closed 3 in Q3 2014.
- Cortland Advisers's portfolio value fell 4.4% quarter-over-quarter to $4.57B.
Based on Cortland Advisers's 13F filing for Q3 2014, filed 13 Nov 2014.