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Cortland Associates Portfolio holdings

AUM $692M
1-Year Est. Return 5%
This Fund
S&P 500
This Quarter Est. Return
-5.52%
1 Year Est. Return
-5%
3 Year Est. Return
+57.07%
5 Year Est. Return
+61.48%
10 Year Est. Return
+413.35%
AUM
$785M
AUM Growth
-$177M
Cap. Flow
-$104M
Cap. Flow %
-13.29%
Top 10 Hldgs %
68.62%
Holding
64
New
2
Increased
4
Reduced
31
Closed
7

Top Buys

Rank Stock Value
1
FCNCA icon
First Citizens BancShares
FCNCA
+$49.8M
2
GPN icon
Global Payments
GPN
+$13.5M
3
PYPL icon
PayPal
PYPL
+$10.9M
4
FNV icon
Franco-Nevada
FNV
+$7.96M
5
GOEV
Canoo Inc. Class A Common Stock
GOEV
+$330K

Top Sells

Rank Stock Value
1
CIT
CIT Group Inc.
CIT
+$55.7M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$35.4M
3
CNC icon
Centene
CNC
+$20.5M
4
META icon
Meta Platforms (Facebook)
META
+$13.7M
5
WDAY icon
Workday
WDAY
+$12.7M

Sector Composition

Rank Sector Weight
1 Financials 30.53%
2 Healthcare 18.77%
3 Communication Services 14.92%
4 Technology 9.07%
5 Industrials 9.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVV icon
26
iShares Core S&P 500 ETF
IVV
$901B
$1.42M 0.18%
3,124
-264
-8% -$118K
PG icon
27
Procter & Gamble
PG
$338B
$1.1M 0.14%
7,170
-38
-0.5% -$5.95K
SHW icon
28
Sherwin-Williams
SHW
$89.5B
$974K 0.12%
3,900
– –
MO icon
29
Altria Group
MO
$114B
$938K 0.12%
17,946
– –
ECOL
30
DELISTED
US Ecology, Inc.
ECOL
$881K 0.11%
18,410
– –
IWB icon
31
iShares Russell 1000 ETF
IWB
$50B
$819K 0.1%
3,275
– –
IYY icon
32
iShares Dow Jones US ETF
IYY
$3.06B
$783K 0.1%
7,028
– –
MDLZ icon
33
Mondelez International
MDLZ
$80B
$690K 0.09%
10,993
– –
CSCO icon
34
Cisco
CSCO
$478B
$550K 0.07%
9,861
-142
-1% -$8.04K
MRK icon
35
Merck
MRK
$317B
$489K 0.06%
5,954
-75
-1% -$5.91K
MDY icon
36
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27.3B
$480K 0.06%
978
-73
-7% -$35.5K
PBA icon
37
Pembina Pipeline
PBA
$27.6B
$449K 0.06%
11,939
– –
PFE icon
38
Pfizer
PFE
$151B
$404K 0.05%
7,797
-100
-1% -$5.19K
GOEV
39
DELISTED
Canoo Inc. Class A Common Stock
GOEV
$374K 0.05%
147
+120
+444% +$330K
IWM icon
40
iShares Russell 2000 ETF
IWM
$83B
$348K 0.04%
1,696
-171
-9% -$34.9K
BN icon
41
Brookfield
BN
$108B
$338K 0.04%
11,100
-3,527
-24% -$105K
K
42
DELISTED
Kellanova
K
$322K 0.04%
5,325
– –
JNJ icon
43
Johnson & Johnson
JNJ
$619B
$321K 0.04%
1,809
-34
-2% -$5.79K
CAT icon
44
Caterpillar
CAT
$389B
$309K 0.04%
1,387
– –
UNP icon
45
Union Pacific
UNP
$174B
$307K 0.04%
1,124
– –
FCX icon
46
Freeport-McMoran
FCX
$97.4B
$293K 0.04%
+5,891
New +$261K
PEP icon
47
PepsiCo
PEP
$190B
$288K 0.04%
1,719
-35
-2% -$5.88K
EFG icon
48
iShares MSCI EAFE Growth ETF
EFG
$17.2B
$287K 0.04%
2,986
– –
PGR icon
49
Progressive
PGR
$125B
$264K 0.03%
2,319
– –
HD icon
50
Home Depot
HD
$353B
$217K 0.03%
725
-29
-4% -$10.1K
1
2
3

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Cortland Associates's Q1 2022 Portfolio in Review

As of Q1 2022, Cortland Associates held 64 positions worth $785M, down 18% from $962M the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Cortland Associates withdrew a net $104M in Q1 2022, closing 7 positions and reducing 31 holdings. Its most notable exit was CIT Group Inc., an estimated $55.7M position sold in full.

By sector, the portfolio is most concentrated in Financials at 31% of assets, up from 28% a quarter earlier, followed by Healthcare and Communication Services.

Against the trend, Cortland Associates opened a new position in First Citizens BancShares worth $42.6M.

  • Cortland Associates's largest Q1 2022 buy was First Citizens BancShares: 63,932 shares worth $42.6M.
  • Cortland Associates added most to Global Payments in Q1 2022, an estimated $13.5M increase.
  • Cortland Associates's biggest Q1 2022 reduction was Alphabet (Google) Class A, cutting an estimated $35.4M.
  • Cortland Associates fully exited CIT Group Inc. in Q1 2022, selling an estimated $55.7M.
  • Cortland Associates's ten largest holdings make up 69% of its $785M portfolio in Q1 2022.
  • Cortland Associates opened 2 new positions and closed 7 in Q1 2022.
  • Cortland Associates's portfolio value fell 18% quarter-over-quarter to $785M.

Based on Cortland Associates's 13F filing for Q1 2022, filed 3 May 2022.