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Cortland Associates Portfolio holdings

AUM $692M
1-Year Est. Return 5%
This Fund
S&P 500
This Quarter Est. Return
-11.9%
1 Year Est. Return
-5%
3 Year Est. Return
+57.07%
5 Year Est. Return
+61.48%
10 Year Est. Return
+413.35%
AUM
$533M
AUM Growth
-$174M
Cap. Flow
-$92.1M
Cap. Flow %
-17.28%
Top 10 Hldgs %
75.13%
Holding
61
New
2
Increased
6
Reduced
29
Closed
13

Top Buys

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$28.1M
2
BDX icon
Becton Dickinson
BDX
+$27.1M
3
JD icon
JD.com
JD
+$18.1M
4
CI icon
Cigna
CI
+$1.58M
5
BLBD icon
Blue Bird Corp
BLBD
+$410K

Top Sells

Rank Stock Value
1
ICE icon
Intercontinental Exchange
ICE
+$34.3M
2
CVS icon
CVS Health
CVS
+$30.8M
3
V icon
Visa
V
+$20.9M
4
CTSH icon
Cognizant
CTSH
+$18.5M
5
CNC icon
Centene
CNC
+$18.1M

Sector Composition

Rank Sector Weight
1 Healthcare 32.86%
2 Financials 22.45%
3 Communication Services 21.03%
4 Consumer Discretionary 9.18%
5 Industrials 6.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
V icon
1
Visa
V
$690B
$58.2M 10.92%
361,388
-111,075
-24% -$20.9M
DHR icon
2
Danaher
DHR
$137B
$58M 10.88%
472,671
-13,747
-3% -$1.85M
CI icon
3
Cigna
CI
$72.4B
$56M 10.51%
316,226
+8,159
+3% +$1.58M
META icon
4
Meta Platforms (Facebook)
META
$1.5T
$44.3M 8.32%
265,814
-4,355
-2% -$853K
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.62T
$37.9M 7.12%
652,960
-11,140
-2% -$755K
GPN icon
6
Global Payments
GPN
$24.1B
$32.4M 6.09%
224,953
+153,533
+215% +$28.1M
CNC icon
7
Centene
CNC
$31.7B
$29.4M 5.51%
494,478
-298,542
-38% -$18.1M
BABA icon
8
Alibaba
BABA
$309B
$28.2M 5.28%
144,752
-77,332
-35% -$16.1M
PYPL icon
9
PayPal
PYPL
$50.1B
$27.6M 5.18%
288,467
-9,547
-3% -$1.05M
BDX icon
10
Becton Dickinson
BDX
$46.9B
$24.6M 4.62%
+109,936
New +$27.1M
TRU icon
11
TransUnion
TRU
$15.7B
$19.7M 3.69%
297,264
-16,588
-5% -$1.43M
GOOG icon
12
Alphabet (Google) Class C
GOOG
$4.59T
$18.9M 3.54%
324,600
-6,460
-2% -$438K
JD icon
13
JD.com
JD
$44.5B
$18.3M 3.43%
+451,779
New +$18.1M
ICE icon
14
Intercontinental Exchange
ICE
$83.8B
$12.5M 2.35%
155,278
-378,254
-71% -$34.3M
BIDU icon
15
Baidu
BIDU
$38.2B
$10.9M 2.05%
108,486
-1,920
-2% -$234K
IDXX icon
16
Idexx Laboratories
IDXX
$46.4B
$5.83M 1.09%
24,075
-814
-3% -$212K
AMZN icon
17
Amazon
AMZN
$2.99T
$2.42M 0.45%
24,820
+100
+0.4% +$9.68K
AAPL icon
18
Apple
AAPL
$4.52T
$2.39M 0.45%
37,568
-2,052
-5% -$151K
PM icon
19
Philip Morris
PM
$291B
$1.38M 0.26%
18,867
-64
-0.3% -$5.27K
BRK.B icon
20
Berkshire Hathaway Class B
BRK.B
$1.12T
$1.38M 0.26%
7,518
-2
-0% -$425
MSFT icon
21
Microsoft
MSFT
$3.66T
$1.05M 0.2%
6,654
-220
-3% -$36.2K
PG icon
22
Procter & Gamble
PG
$345B
$803K 0.15%
7,303
-191
-3% -$22.9K
MO icon
23
Altria Group
MO
$114B
$772K 0.14%
19,956
+31
+0.2% +$1.38K
SHW icon
24
Sherwin-Williams
SHW
$87.8B
$597K 0.11%
3,900
-3
-0.1% -$541
MDLZ icon
25
Mondelez International
MDLZ
$79.2B
$551K 0.1%
10,993
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1
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Cortland Associates's Q1 2020 Portfolio in Review

As of Q1 2020, Cortland Associates held 61 positions worth $533M, down 25% from $707M the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Cortland Associates withdrew a net $92.1M in Q1 2020, closing 13 positions and reducing 29 holdings. Its most notable exit was Cognizant, an estimated $18.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 33% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Cortland Associates opened a new position in Becton Dickinson worth $24.6M.

  • Cortland Associates's largest Q1 2020 buy was Becton Dickinson: 109,936 shares worth $24.6M.
  • Cortland Associates added most to Global Payments in Q1 2020, an estimated $28.1M increase.
  • Cortland Associates's biggest Q1 2020 reduction was Intercontinental Exchange, cutting an estimated $34.3M.
  • Cortland Associates fully exited Cognizant in Q1 2020, selling an estimated $18.5M.
  • Cortland Associates's ten largest holdings make up 75% of its $533M portfolio in Q1 2020.
  • Cortland Associates opened 2 new positions and closed 13 in Q1 2020.
  • Cortland Associates's portfolio value fell 25% quarter-over-quarter to $533M.

Based on Cortland Associates's 13F filing for Q1 2020, filed 30 Apr 2020.