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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
+0.9%
1 Year Est. Return
+8.82%
3 Year Est. Return
+40.54%
5 Year Est. Return
+42.79%
10 Year Est. Return
–
AUM
$4.43B
AUM Growth
-$145M
(-3.2%)
Cap. Flow
-$135M
Cap. Flow
% of AUM
-3.05%
Top 10 Holdings %
Top 10 Hldgs %
68.69%
Holding
26
New
1
Increased
–
Reduced
1
Closed
2
Top Buys
| 1 |
Kinder Morgan
KMI
|
+$410M |
Top Sells
| 1 |
KMR
KINDER MORGAN MANAGEMENT LLC
KMR
|
+$389M |
| 2 |
JPMorgan Chase
JPM
|
+$96.3M |
| 3 |
Transocean
RIG
|
+$59.9M |
Sector Composition
| 1 | Financials | 53% |
| 2 | Energy | 39.88% |
| 3 | Communication Services | 4.23% |
| 4 | Real Estate | 1.78% |
| 5 | Utilities | 1.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Kinder Morgan
KMI
$71.9B
| $441M | 9.96% |
+10,416,472
| New | +$410M |
|
|
BNY
2
Bank of New York Mellon
BNY
$108B
| $367M | 8.3% |
9,050,000
| – | – |
|
3
Enterprise Products Partners
EPD
$82.6B
| $340M | 7.67% |
9,400,000
| – | – |
|
4
Wells Fargo
WFC
$265B
| $302M | 6.81% |
5,500,000
| – | – |
|
5
Berkshire Hathaway Class B
BRK.B
$1.06T
| $300M | 6.79% |
2,000,000
| – | – |
|
6
Chevron
CVX
$373B
| $280M | 6.34% |
2,500,000
| – | – |
|
7
SLB Ltd
SLB
$70.3B
| $273M | 6.18% |
3,200,000
| – | – |
|
8
CME Group
CME
$88.5B
| $266M | 6.01% |
3,000,000
| – | – |
|
9
State Street
STT
$50.5B
| $244M | 5.51% |
3,104,206
| – | – |
|
10
American International
AIG
$42.7B
| $227M | 5.13% |
4,052,602
| – | – |
|
11
Verizon
VZ
$182B
| $187M | 4.23% |
4,000,000
| – | – |
|
12
US Bancorp
USB
$98.4B
| $180M | 4.06% |
4,000,000
| – | – |
|
13
Suncor Energy
SU
$73.7B
| $161M | 3.64% |
5,070,000
| – | – |
|
14
Zions Bancorporation
ZION
$10.6B
| $143M | 3.22% |
5,000,000
| – | – |
|
15
Phillips 66
PSX
$82.9B
| $105M | 2.37% |
1,464,724
| – | – |
|
16
Aon
AON
$78.4B
| $94.8M | 2.14% |
1,000,000
| – | – |
|
17
Intercontinental Exchange
ICE
$79B
| $87.7M | 1.98% |
2,000,000
| – | – |
|
18
Affiliated Managers Group
AMG
$9.77B
| $84.9M | 1.92% |
400,000
| – | – |
|
19
Crown Castle
CCI
$34.6B
| $78.7M | 1.78% |
1,000,000
| – | – |
|
|
SWN
20
DELISTED
Southwestern Energy Company
SWN
| $65.5M | 1.48% |
2,400,000
| – | – |
|
21
ConocoPhillips
COP
$140B
| $62.2M | 1.4% |
900,000
| – | – |
|
|
22
JPMorgan Chase
JPM
$907B
| $50.1M | 1.13% |
800,000
-1,600,000
| -67% | -$96.3M |
|
23
Southern Company
SO
$107B
| $49.1M | 1.11% |
1,000,000
| – | – |
|
24
ExxonMobil
XOM
$611B
| $37M | 0.84% |
400,000
| – | – |
|
|
25
Transocean
RIG
$5.69B
| – | – |
-1,873,552
| Closed | -$59.9M |
|
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Cortland Advisers's Q4 2014 Portfolio in Review
As of Q4 2014, Cortland Advisers held 26 positions worth $4.43B, down 3.2% from $4.57B the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Cortland Advisers withdrew a net $135M in Q4 2014, closing 2 positions and reducing 1 holding. Its most notable exit was KINDER MORGAN MANAGEMENT LLC, an estimated $389M position sold in full.
By sector, the portfolio is most concentrated in Financials at 53% of assets, up from 50% a quarter earlier, followed by Energy and Communication Services.
Against the trend, Cortland Advisers opened a new position in Kinder Morgan worth $441M.
- Cortland Advisers's largest Q4 2014 buy was Kinder Morgan: 10,416,472 shares worth $441M.
- Cortland Advisers's biggest Q4 2014 reduction was JPMorgan Chase, cutting an estimated $96.3M.
- Cortland Advisers fully exited KINDER MORGAN MANAGEMENT LLC in Q4 2014, selling an estimated $389M.
- Cortland Advisers's ten largest holdings make up 69% of its $4.43B portfolio in Q4 2014.
- Cortland Advisers opened 1 new position and closed 2 in Q4 2014.
- Cortland Advisers's portfolio value fell 3.2% quarter-over-quarter to $4.43B.
Based on Cortland Advisers's 13F filing for Q4 2014, filed 13 Feb 2015.