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Cortland Associates Portfolio holdings

AUM $692M
1-Year Est. Return 5%
This Fund
S&P 500
This Quarter Est. Return
+5.99%
1 Year Est. Return
-5%
3 Year Est. Return
+57.07%
5 Year Est. Return
+61.48%
10 Year Est. Return
+413.35%
AUM
$620M
AUM Growth
-$7.64M
Cap. Flow
-$38.1M
Cap. Flow %
-6.13%
Top 10 Hldgs %
69.85%
Holding
53
New
2
Increased
5
Reduced
31
Closed
–

Top Buys

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$8.5M
2
OWL icon
Blue Owl Capital
OWL
+$2.87M
3
BN icon
Brookfield
BN
+$190K
4
MSFT icon
Microsoft
MSFT
+$2.51K
5
HD icon
Home Depot
HD
+$591

Top Sells

Rank Stock Value
1
FCNCA icon
First Citizens BancShares
FCNCA
+$29.9M
2
V icon
Visa
V
+$4.34M
3
WTW icon
Willis Towers Watson
WTW
+$2.21M
4
CI icon
Cigna
CI
+$1.61M
5
DHR icon
Danaher
DHR
+$1.09M

Sector Composition

Rank Sector Weight
1 Financials 32.97%
2 Healthcare 15.44%
3 Technology 14.41%
4 Consumer Discretionary 13.85%
5 Communication Services 10.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
V icon
1
Visa
V
$683B
$66.6M 10.74%
280,597
-18,953
-6% -$4.34M
FISV
2
Fiserv Inc
FISV
$29B
$58.9M 9.5%
467,140
+72,198
+18% +$8.5M
WTW icon
3
Willis Towers Watson
WTW
$31.7B
$49.3M 7.94%
209,258
-9,593
-4% -$2.21M
BKNG icon
4
Booking.com
BKNG
$151B
$42.3M 6.81%
391,350
-10,200
-3% -$1.08M
CI icon
5
Cigna
CI
$74.5B
$40.1M 6.46%
142,931
-6,189
-4% -$1.61M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.62T
$38.2M 6.16%
319,471
-4,838
-1% -$557K
FCNCA icon
7
First Citizens BancShares
FCNCA
$25.3B
$37.3M 6.01%
29,046
-25,812
-47% -$29.9M
DHR icon
8
Danaher
DHR
$137B
$37M 5.97%
174,074
-5,169
-3% -$1.09M
AMZN icon
9
Amazon
AMZN
$2.99T
$32.1M 5.17%
246,002
-5,196
-2% -$593K
PYPL icon
10
PayPal
PYPL
$49.5B
$31.5M 5.08%
472,790
-15,392
-3% -$1.05M
GOOG icon
11
Alphabet (Google) Class C
GOOG
$4.59T
$25.4M 4.09%
210,001
-9,211
-4% -$1.07M
ATVI
12
DELISTED
Activision Blizzard
ATVI
$22.4M 3.6%
265,316
-10,725
-4% -$868K
FNV icon
13
Franco-Nevada
FNV
$41.4B
$21.3M 3.44%
149,655
-4,330
-3% -$650K
TPL icon
14
Texas Pacific Land
TPL
$28B
$19.2M 3.09%
130,950
-3,888
-3% -$623K
CNC icon
15
Centene
CNC
$31.7B
$14.3M 2.31%
212,193
-6,924
-3% -$462K
ICE icon
16
Intercontinental Exchange
ICE
$85.2B
$13.6M 2.2%
120,554
-3,357
-3% -$364K
GLD icon
17
SPDR Gold Trust
GLD
$132B
$12.2M 1.97%
68,415
-1,969
-3% -$362K
JD icon
18
JD.com
JD
$44.6B
$6.12M 0.99%
179,262
-9,421
-5% -$343K
AAPL icon
19
Apple
AAPL
$4.52T
$5.53M 0.89%
28,504
-1,599
-5% -$279K
BABA icon
20
Alibaba
BABA
$309B
$5.24M 0.84%
62,866
-3,497
-5% -$306K
OWL icon
21
Blue Owl Capital
OWL
$7.54B
$3.11M 0.5%
+266,856
New +$2.87M
IDXX icon
22
Idexx Laboratories
IDXX
$44.8B
$3.1M 0.5%
6,176
-129
-2% -$61.8K
BRK.B icon
23
Berkshire Hathaway Class B
BRK.B
$1.11T
$2.57M 0.41%
7,543
+1
+0% +$326
MSFT icon
24
Microsoft
MSFT
$3.66T
$2.15M 0.35%
6,300
+8
+0.1% +$2.51K
PM icon
25
Philip Morris
PM
$292B
$1.64M 0.26%
16,804
-3,708
-18% -$354K
1
2

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Cortland Associates's Q2 2023 Portfolio in Review

As of Q2 2023, Cortland Associates held 53 positions worth $620M, down 1.2% from $628M the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Cortland Associates withdrew a net $38.1M in Q2 2023, reducing 31 holdings. Its largest reduction was First Citizens BancShares, cutting an estimated $29.9M.

By sector, the portfolio is most concentrated in Financials at 33% of assets, down from 36% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Cortland Associates opened a new position in Blue Owl Capital worth $3.11M.

  • Cortland Associates's largest Q2 2023 buy was Blue Owl Capital: 266,856 shares worth $3.11M.
  • Cortland Associates added most to Fiserv Inc in Q2 2023, an estimated $8.5M increase.
  • Cortland Associates's biggest Q2 2023 reduction was First Citizens BancShares, cutting an estimated $29.9M.
  • Cortland Associates's ten largest holdings make up 70% of its $620M portfolio in Q2 2023.
  • Cortland Associates opened 2 new positions and closed 0 in Q2 2023.
  • Cortland Associates's portfolio value fell 1.2% quarter-over-quarter to $620M.

Based on Cortland Associates's 13F filing for Q2 2023, filed 3 Aug 2023.