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Cortland Associates Portfolio holdings

AUM $692M
1-Year Est. Return 5%
This Fund
S&P 500
This Quarter Est. Return
+3.99%
1 Year Est. Return
-5%
3 Year Est. Return
+57.07%
5 Year Est. Return
+61.48%
10 Year Est. Return
+413.35%
AUM
$792M
AUM Growth
-$54.5M
Cap. Flow
-$71.6M
Cap. Flow %
-9.03%
Top 10 Hldgs %
64.86%
Holding
65
New
1
Increased
5
Reduced
37
Closed
3

Top Buys

Rank Stock Value
1
BRO icon
Brown & Brown
BRO
+$24.2M
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$458K
3
WMT icon
Walmart Inc
WMT
+$10.7K
4
MSFT icon
Microsoft
MSFT
+$2K
5
HD icon
Home Depot
HD
+$733

Top Sells

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$39.6M
2
EFX icon
Equifax
EFX
+$12.1M
3
JD icon
JD.com
JD
+$11.7M
4
OWL icon
Blue Owl Capital
OWL
+$10.1M
5
FA icon
First Advantage
FA
+$5.63M

Sector Composition

Rank Sector Weight
1 Financials 36.6%
2 Consumer Discretionary 14.2%
3 Healthcare 9.81%
4 Communication Services 9.43%
5 Technology 8.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WTW icon
1
Willis Towers Watson
WTW
$31.5B
$61.4M 7.75%
186,861
-3,238
-2% -$1.06M
FCNCA icon
2
First Citizens BancShares
FCNCA
$25.6B
$58.9M 7.43%
27,439
-464
-2% -$875K
V icon
3
Visa
V
$690B
$58.7M 7.41%
167,418
-2,921
-2% -$995K
KD icon
4
Kyndryl
KD
$3.24B
$55.3M 6.98%
2,081,328
-23,754
-1% -$644K
BKNG icon
5
Booking.com
BKNG
$151B
$54M 6.82%
252,175
-3,500
-1% -$720K
AMZN icon
6
Amazon
AMZN
$2.99T
$53.5M 6.75%
231,650
-3,984
-2% -$911K
RYAAY icon
7
Ryanair
RYAAY
$31.2B
$50M 6.32%
692,972
-12,966
-2% -$843K
GOOG icon
8
Alphabet (Google) Class C
GOOG
$4.59T
$48.9M 6.17%
155,766
-3,785
-2% -$1.08M
DHR icon
9
Danaher
DHR
$137B
$38.9M 4.91%
169,868
-2,759
-2% -$607K
CI icon
10
Cigna
CI
$72.4B
$34.2M 4.32%
124,428
-2,063
-2% -$578K
PM icon
11
Philip Morris
PM
$291B
$32.4M 4.09%
201,894
-11,636
-5% -$1.8M
KKR icon
12
KKR & Co
KKR
$97.2B
$29.2M 3.68%
228,691
-4,200
-2% -$522K
GOOGL icon
13
Alphabet (Google) Class A
GOOGL
$4.62T
$25.8M 3.26%
82,469
-1,393
-2% -$398K
BRO icon
14
Brown & Brown
BRO
$23.8B
$23.1M 2.91%
+289,445
New +$24.2M
OWL icon
15
Blue Owl Capital
OWL
$7.82B
$20.4M 2.57%
1,364,393
-645,218
-32% -$10.1M
LB
16
LandBridge Co
LB
$2.05B
$20M 2.53%
408,280
-4,163
-1% -$242K
COF icon
17
Capital One
COF
$136B
$16.3M 2.05%
67,050
-648
-1% -$144K
FA icon
18
First Advantage
FA
$3.54B
$13.6M 1.72%
935,704
-399,384
-30% -$5.63M
TPL icon
19
Texas Pacific Land
TPL
$27.3B
$12.4M 1.56%
43,157
-1,252
-3% -$382K
CSGP icon
20
CoStar Group
CSGP
$12.1B
$12.3M 1.55%
183,144
-8,448
-4% -$598K
BRK.A icon
21
Berkshire Hathaway Class A
BRK.A
$1.11T
$9.81M 1.24%
13
-1
-7% -$746K
ICE icon
22
Intercontinental Exchange
ICE
$83.8B
$8.69M 1.1%
53,641
-1,081
-2% -$169K
AAPL icon
23
Apple
AAPL
$4.52T
$7.16M 0.9%
26,324
-173
-0.7% -$46.4K
JD icon
24
JD.com
JD
$44.5B
$4.45M 0.56%
155,104
-373,236
-71% -$11.7M
IDXX icon
25
Idexx Laboratories
IDXX
$46.4B
$3.73M 0.47%
5,510
-174
-3% -$118K
1
2 3

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Cortland Associates's Q4 2025 Portfolio in Review

As of Q4 2025, Cortland Associates held 65 positions worth $792M, down 6.4% from $847M the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Cortland Associates withdrew a net $71.6M in Q4 2025, closing 3 positions and reducing 37 holdings. Its most notable exit was Fiserv Inc, an estimated $39.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 37% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Cortland Associates opened a new position in Brown & Brown worth $23.1M.

  • Cortland Associates's largest Q4 2025 buy was Brown & Brown: 289,445 shares worth $23.1M.
  • Cortland Associates added most to iShares Core S&P 500 ETF in Q4 2025, an estimated $458K increase.
  • Cortland Associates's biggest Q4 2025 reduction was JD.com, cutting an estimated $11.7M.
  • Cortland Associates fully exited Fiserv Inc in Q4 2025, selling an estimated $39.6M.
  • Cortland Associates's ten largest holdings make up 65% of its $792M portfolio in Q4 2025.
  • Cortland Associates opened 1 new position and closed 3 in Q4 2025.
  • Cortland Associates's portfolio value fell 6.4% quarter-over-quarter to $792M.

Based on Cortland Associates's 13F filing for Q4 2025, filed 28 Jan 2026.