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Cortland Associates Portfolio holdings

AUM $692M
1-Year Est. Return 5%
This Fund
S&P 500
This Quarter Est. Return
+6.64%
1 Year Est. Return
-5%
3 Year Est. Return
+57.07%
5 Year Est. Return
+61.48%
10 Year Est. Return
+413.35%
AUM
$628M
AUM Growth
+$24.5M
Cap. Flow
+$3.47M
Cap. Flow %
0.55%
Top 10 Hldgs %
69.07%
Holding
58
New
2
Increased
12
Reduced
26
Closed
7

Top Buys

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$21.4M
2
BKNG icon
Booking.com
BKNG
+$11.9M
3
EFA icon
iShares MSCI EAFE ETF
EFA
+$236K
4
PM icon
Philip Morris
PM
+$181K
5
AAPL icon
Apple
AAPL
+$90.9K

Top Sells

Rank Stock Value
1
CI icon
Cigna
CI
+$11.5M
2
CRM icon
Salesforce
CRM
+$8.59M
3
V icon
Visa
V
+$1.53M
4
WTW icon
Willis Towers Watson
WTW
+$1.01M
5
DHR icon
Danaher
DHR
+$862K

Sector Composition

Rank Sector Weight
1 Financials 35.73%
2 Healthcare 15.36%
3 Consumer Discretionary 13.35%
4 Technology 12.02%
5 Communication Services 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
V icon
1
Visa
V
$691B
$67.5M 10.75%
299,550
-6,894
-2% -$1.53M
FCNCA icon
2
First Citizens BancShares
FCNCA
$23.8B
$53.4M 8.5%
54,858
-722
-1% -$536K
WTW icon
3
Willis Towers Watson
WTW
$28.8B
$50.9M 8.1%
218,851
-4,163
-2% -$1.01M
FISV
4
Fiserv Inc
FISV
$25.1B
$44.6M 7.11%
394,942
-6,294
-2% -$692K
BKNG icon
5
Booking.com
BKNG
$126B
$42.6M 6.78%
401,550
+122,150
+44% +$11.9M
DHR icon
6
Danaher
DHR
$149B
$40M 6.38%
179,243
-3,791
-2% -$862K
CI icon
7
Cigna
CI
$72.7B
$38.1M 6.07%
149,120
-39,542
-21% -$11.5M
PYPL icon
8
PayPal
PYPL
$44.8B
$37.1M 5.9%
488,182
-6,445
-1% -$496K
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.27T
$33.6M 5.36%
324,309
-714
-0.2% -$68.5K
AMZN icon
10
Amazon
AMZN
$2.74T
$25.9M 4.13%
251,198
-4,587
-2% -$443K
TPL icon
11
Texas Pacific Land
TPL
$24.3B
$25.5M 4.06%
134,838
-3,375
-2% -$703K
ATVI
12
DELISTED
Activision Blizzard
ATVI
$23.6M 3.76%
+276,041
New +$21.4M
GOOG icon
13
Alphabet (Google) Class C
GOOG
$4.21T
$22.8M 3.63%
219,212
-4,881
-2% -$471K
FNV icon
14
Franco-Nevada
FNV
$51.3B
$22.5M 3.57%
153,985
-2,705
-2% -$377K
CNC icon
15
Centene
CNC
$32.2B
$13.8M 2.21%
219,117
-4,339
-2% -$308K
ICE icon
16
Intercontinental Exchange
ICE
$87.3B
$12.9M 2.06%
123,911
-2,352
-2% -$245K
GLD icon
17
SPDR Gold Trust
GLD
$148B
$12.9M 2.05%
70,384
-1,414
-2% -$249K
JD icon
18
JD.com
JD
$36.4B
$8.28M 1.32%
188,683
-6,799
-3% -$351K
BABA icon
19
Alibaba
BABA
$281B
$6.78M 1.08%
66,363
-2,189
-3% -$219K
AAPL icon
20
Apple
AAPL
$4.91T
$4.96M 0.79%
30,103
+616
+2% +$90.9K
IDXX icon
21
Idexx Laboratories
IDXX
$40.3B
$3.15M 0.5%
6,305
-123
-2% -$58.9K
BRK.B icon
22
Berkshire Hathaway Class B
BRK.B
$1.09T
$2.33M 0.37%
7,542
– –
PM icon
23
Philip Morris
PM
$294B
$2M 0.32%
20,512
+1,817
+10% +$181K
MSFT icon
24
Microsoft
MSFT
$3.67T
$1.81M 0.29%
6,292
-79
-1% -$20.2K
PG icon
25
Procter & Gamble
PG
$340B
$1.16M 0.18%
7,801
+631
+9% +$90.2K
1
2 3

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SIA
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BSG
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TTSTC
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WAAG
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ICM
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CT
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Cortland Associates's Q1 2023 Portfolio in Review

As of Q1 2023, Cortland Associates held 58 positions worth $628M, up 4.1% from $604M the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Cortland Associates's Q1 2023 filing shows 2 new, 12 increased, 26 reduced and 7 closed positions. Its largest new stake was Activision Blizzard: 276,041 shares worth $23.6M. The largest sale was Cigna, an estimated $11.5M.

By sector, the portfolio is most concentrated in Financials at 36% of assets, up from 35% a quarter earlier, followed by Healthcare and Consumer Discretionary.

  • Cortland Associates's largest Q1 2023 buy was Activision Blizzard: 276,041 shares worth $23.6M.
  • Cortland Associates added most to Booking.com in Q1 2023, an estimated $11.9M increase.
  • Cortland Associates's biggest Q1 2023 reduction was Cigna, cutting an estimated $11.5M.
  • Cortland Associates fully exited Salesforce in Q1 2023, selling an estimated $8.59M.
  • Cortland Associates's ten largest holdings make up 69% of its $628M portfolio in Q1 2023.
  • Cortland Associates opened 2 new positions and closed 7 in Q1 2023.
  • Cortland Associates's portfolio value rose 4.1% quarter-over-quarter to $628M.

Based on Cortland Associates's 13F filing for Q1 2023, filed 20 Apr 2023.