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Cortland Associates Portfolio holdings

AUM $692M
1-Year Est. Return 5%
This Fund
S&P 500
This Quarter Est. Return
+0.15%
1 Year Est. Return
-5%
3 Year Est. Return
+57.07%
5 Year Est. Return
+61.48%
10 Year Est. Return
+413.35%
AUM
$562M
AUM Growth
-$43.3M
Cap. Flow
-$36.1M
Cap. Flow %
-6.43%
Top 10 Hldgs %
66.64%
Holding
59
New
2
Increased
7
Reduced
29
Closed
4

Top Buys

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$9.93M
2
HD icon
Home Depot
HD
+$215K
3
CMI icon
Cummins
CMI
+$213K
4
PEP icon
PepsiCo
PEP
+$13.4K
5
MRK icon
Merck
MRK
+$9.02K

Top Sells

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$24.4M
2
CI icon
Cigna
CI
+$14.4M
3
ABNB icon
Airbnb
ABNB
+$3.2M
4
JD icon
JD.com
JD
+$539K
5
V icon
Visa
V
+$461K

Sector Composition

Rank Sector Weight
1 Financials 31.42%
2 Healthcare 20.67%
3 Communication Services 10.43%
4 Technology 9.51%
5 Consumer Discretionary 8.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
V icon
1
Visa
V
$690B
$54.9M 9.77%
308,885
-2,266
-0.7% -$461K
CI icon
2
Cigna
CI
$72.4B
$52.8M 9.4%
190,348
-51,308
-21% -$14.4M
WTW icon
3
Willis Towers Watson
WTW
$31.5B
$45.1M 8.03%
224,502
-1,475
-0.7% -$304K
FCNCA icon
4
First Citizens BancShares
FCNCA
$25.6B
$44.6M 7.94%
55,929
-244
-0.4% -$191K
DHR icon
5
Danaher
DHR
$137B
$42.4M 7.55%
185,152
-1,289
-0.7% -$316K
FISV
6
Fiserv Inc
FISV
$29.7B
$37.7M 6.71%
402,984
-1,317
-0.3% -$134K
TPL icon
7
Texas Pacific Land
TPL
$27.3B
$27.5M 4.89%
139,104
-738
-0.5% -$142K
GPN icon
8
Global Payments
GPN
$24.1B
$27.2M 4.85%
252,183
-197,482
-44% -$24.4M
GOOG icon
9
Alphabet (Google) Class C
GOOG
$4.59T
$21.8M 3.89%
227,121
-2,079
-0.9% -$232K
GOOGL icon
10
Alphabet (Google) Class A
GOOGL
$4.62T
$20.2M 3.6%
211,627
-213
-0.1% -$23.6K
FNV icon
11
Franco-Nevada
FNV
$42.2B
$18.8M 3.35%
157,661
-818
-0.5% -$103K
BKNG icon
12
Booking.com
BKNG
$151B
$18.4M 3.27%
279,175
+132,100
+90% +$9.93M
PYPL icon
13
PayPal
PYPL
$50.1B
$17.8M 3.17%
207,120
-633
-0.3% -$56.1K
CNC icon
14
Centene
CNC
$31.7B
$17.5M 3.12%
224,986
-1,696
-0.7% -$152K
META icon
15
Meta Platforms (Facebook)
META
$1.5T
$16.5M 2.94%
121,714
-1,059
-0.9% -$172K
AMZN icon
16
Amazon
AMZN
$2.99T
$13M 2.32%
115,433
-611
-0.5% -$77.2K
ICE icon
17
Intercontinental Exchange
ICE
$83.8B
$11.5M 2.05%
127,254
-1,344
-1% -$135K
GLD icon
18
SPDR Gold Trust
GLD
$132B
$11.2M 1.99%
72,227
-198
-0.3% -$31.8K
JD icon
19
JD.com
JD
$44.5B
$9.94M 1.77%
197,646
-9,095
-4% -$539K
CRM icon
20
Salesforce
CRM
$156B
$9.42M 1.68%
65,515
-624
-0.9% -$106K
BABA icon
21
Alibaba
BABA
$309B
$5.55M 0.99%
69,362
-2,520
-4% -$240K
AAPL icon
22
Apple
AAPL
$4.52T
$4.39M 0.78%
31,778
-89
-0.3% -$14K
IDXX icon
23
Idexx Laboratories
IDXX
$46.4B
$2.11M 0.38%
6,486
-47
-0.7% -$17.3K
BRK.B icon
24
Berkshire Hathaway Class B
BRK.B
$1.12T
$2.02M 0.36%
7,557
+2
+0% +$569
PM icon
25
Philip Morris
PM
$291B
$1.55M 0.28%
18,695
– –
1
2 3

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Cortland Associates's Q3 2022 Portfolio in Review

As of Q3 2022, Cortland Associates held 59 positions worth $562M, down 7.2% from $605M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Cortland Associates withdrew a net $36.1M in Q3 2022, closing 4 positions and reducing 29 holdings. Its most notable exit was Airbnb, an estimated $3.2M 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 Home Depot worth $201K.

  • Cortland Associates's largest Q3 2022 buy was Home Depot: 728 shares worth $201K.
  • Cortland Associates added most to Booking.com in Q3 2022, an estimated $9.93M increase.
  • Cortland Associates's biggest Q3 2022 reduction was Global Payments, cutting an estimated $24.4M.
  • Cortland Associates fully exited Airbnb in Q3 2022, selling an estimated $3.2M.
  • Cortland Associates's ten largest holdings make up 67% of its $562M portfolio in Q3 2022.
  • Cortland Associates opened 2 new positions and closed 4 in Q3 2022.
  • Cortland Associates's portfolio value fell 7.2% quarter-over-quarter to $562M.

Based on Cortland Associates's 13F filing for Q3 2022, filed 1 Nov 2022.