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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
(-18%)
Cap. Flow
-$104M
Cap. Flow
% of AUM
-13.29%
Top 10 Holdings %
Top 10 Hldgs %
68.62%
Holding
64
New
2
Increased
4
Reduced
31
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
First Citizens BancShares
FCNCA
|
+$49.8M |
| 2 |
Global Payments
GPN
|
+$13.5M |
| 3 |
PayPal
PYPL
|
+$10.9M |
| 4 |
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 |
Alphabet (Google) Class A
GOOGL
|
+$35.4M |
| 3 |
Centene
CNC
|
+$20.5M |
| 4 |
Meta Platforms (Facebook)
META
|
+$13.7M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1
Visa
V
$690B
| $77.8M | 9.91% |
350,766
-17,549
| -5% | -$3.8M |
|
|
2
Global Payments
GPN
$24.1B
| $69.2M | 8.82% |
505,697
+96,411
| +24% | +$13.5M |
|
3
Cigna
CI
$72.4B
| $65.4M | 8.33% |
272,746
-10,956
| -4% | -$2.56M |
|
4
Willis Towers Watson
WTW
$31.5B
| $61.4M | 7.82% |
259,810
-9,727
| -4% | -$2.23M |
|
5
Danaher
DHR
$137B
| $55M | 7.01% |
211,623
-11,122
| -5% | -$2.78M |
|
|
6
Meta Platforms (Facebook)
META
$1.5T
| $48.1M | 6.13% |
216,178
-54,706
| -20% | -$13.7M |
|
|
FISV
7
Fiserv Inc
FISV
$29.7B
| $46.8M | 5.97% |
461,660
-122,690
| -21% | -$12.4M |
|
|
8
First Citizens BancShares
FCNCA
$25.6B
| $42.6M | 5.42% |
+63,932
| New | +$49.8M |
|
|
9
Alphabet (Google) Class C
GOOG
$4.59T
| $37.2M | 4.74% |
266,160
-24,560
| -8% | -$3.34M |
|
|
10
PayPal
PYPL
$50.1B
| $35.2M | 4.48% |
304,206
+81,534
| +37% | +$10.9M |
|
|
11
Alphabet (Google) Class A
GOOGL
$4.62T
| $31.9M | 4.06% |
229,200
-260,680
| -53% | -$35.4M |
|
|
12
Franco-Nevada
FNV
$42.2B
| $28.4M | 3.62% |
177,966
+55,276
| +45% | +$7.96M |
|
13
Texas Pacific Land
TPL
$27.3B
| $23.9M | 3.04% |
158,868
-7,263
| -4% | -$957K |
|
|
14
Centene
CNC
$31.7B
| $21.6M | 2.76% |
257,092
-249,869
| -49% | -$20.5M |
|
15
Amazon
AMZN
$2.99T
| $21.5M | 2.74% |
131,900
-7,940
| -6% | -$1.23M |
|
16
Intercontinental Exchange
ICE
$83.8B
| $19.3M | 2.46% |
145,946
-8,460
| -5% | -$1.09M |
|
17
Salesforce
CRM
$156B
| $16.1M | 2.05% |
75,706
-3,751
| -5% | -$807K |
|
18
JD.com
JD
$44.5B
| $13.9M | 1.77% |
240,123
-32,841
| -12% | -$2.23M |
|
19
Alibaba
BABA
$309B
| $9.08M | 1.16% |
83,435
-12,373
| -13% | -$1.43M |
|
20
Airbnb
ABNB
$89B
| $7.04M | 0.9% |
40,964
-2,123
| -5% | -$338K |
|
21
Apple
AAPL
$4.52T
| $5.54M | 0.71% |
31,708
-1,842
| -5% | -$310K |
|
22
Idexx Laboratories
IDXX
$46.4B
| $4.09M | 0.52% |
7,486
-16,471
| -69% | -$8.66M |
|
23
Berkshire Hathaway Class B
BRK.B
$1.12T
| $2.83M | 0.36% |
8,031
| – | – |
|
24
Microsoft
MSFT
$3.66T
| $2M | 0.26% |
6,489
-57
| -0.9% | -$17.1K |
|
25
Philip Morris
PM
$291B
| $1.76M | 0.22% |
18,695
| – | – |
|
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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.