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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
BNY
1
Bank of New York Mellon
BNY
$108B
$294M 7.31%
7,500,000
– –
KMI icon
2
Kinder Morgan
KMI
$73.1B
$288M 7.18%
10,416,474
– –
WFC icon
3
Wells Fargo
WFC
$261B
$282M 7.03%
5,500,000
– –
SLB icon
4
SLB Ltd
SLB
$77.8B
$221M 5.5%
3,200,000
– –
CME icon
5
CME Group
CME
$92.2B
$213M 5.31%
2,300,000
-200,000
-8% -$19M
CVX icon
6
Chevron
CVX
$388B
$197M 4.91%
2,500,000
– –
BRK.B icon
7
Berkshire Hathaway Class B
BRK.B
$1.07T
$196M 4.87%
1,500,000
– –
STT icon
8
State Street
STT
$50.9B
$190M 4.73%
2,825,297
-278,909
-9% -$20.8M
AMT icon
9
American Tower
AMT
$77.7B
$176M 4.38%
2,000,000
– –
USB icon
10
US Bancorp
USB
$99.6B
$164M 4.08%
4,000,000
– –
SU icon
11
Suncor Energy
SU
$77.7B
$147M 3.66%
5,500,000
– –
NEE icon
12
NextEra Energy
NEE
$187B
$146M 3.64%
6,000,000
+4,000,000
+200% +$102M
VZ icon
13
Verizon
VZ
$194B
$139M 3.47%
3,200,000
-800,000
-20% -$36.9M
RY icon
14
Royal Bank of Canada
RY
$291B
$138M 3.44%
2,500,000
+500,000
+25% +$28.5M
ZION icon
15
Zions Bancorporation
ZION
$10.1B
$138M 3.43%
5,000,000
– –
AIG icon
16
American International
AIG
$41.9B
$136M 3.4%
2,400,000
-300,000
-11% -$18.3M
ICE icon
17
Intercontinental Exchange
ICE
$82.4B
$94M 2.34%
2,000,000
– –
AON icon
18
Aon
AON
$77.3B
$88.6M 2.21%
1,000,000
– –
BMO icon
19
Bank of Montreal
BMO
$125B
$81.8M 2.04%
1,500,000
– –
CCI icon
20
Crown Castle
CCI
$32.7B
$78.9M 1.96%
1,000,000
– –
TD icon
21
Toronto Dominion Bank
TD
$198B
$78.8M 1.96%
2,000,000
– –
AMG icon
22
Affiliated Managers Group
AMG
$9.46B
$68.4M 1.7%
400,000
– –
SO icon
23
Southern Company
SO
$110B
$67M 1.67%
1,500,000
– –
PSX icon
24
Phillips 66
PSX
$82.9B
$59.6M 1.48%
775,794
-688,930
-47% -$54.8M
PPL
25
PPL Corp
PPL
$27.3B
$49.3M 1.23%
1,500,000
– –
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 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.