CORTLAND ASSOCIATES INC/MO
Long book
$696.8M
Q1 2026
Positions
62
Top-10 weight
61%
concentration
Last quarter
+9.3%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsCORTLAND ASSOCIATES INC/MO is a concentrated fundamental stock-picker, running a $696.8M US long book across 62 positions.
The portfolio is concentrated: the top 10 names carry 61% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: WILLIS TOWERS WATSON PLC, BOOKING HOLDINGS INC, VISA INC-CLASS A SHARES, AMAZON.COM INC, ALPHABET INC-CL C.
Over the last 9 quarters its long book ran on average 2.8pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.2%
Q2 2024
+7.8%
Q3 2024
+9.8%
Q4 2024
-3.1%
Q1 2025
+6.2%
Q2 2025
-2.0%
Q3 2025
-0.2%
Q4 2025
-13.7%
Q1 2026
+9.3%
Sector allocation
Financials 39%
Technology 25%
Services media 9%
Industrials 8%
Consumer discretionary 8%
Consumer staples 5%
Healthcare 5%
Materials 1%
Long book by quarter
What does CORTLAND ASSOCIATES own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WTW WILLIS TOWERS WATSON PLC | Financials | 180.3K | $52.4M | 7.5% | -3.5% |
| BKNG BOOKING HOLDINGS INC | Industrials | 11.9K | $49.9M | 7.2% | +17.6% |
| V VISA INC-CLASS A SHARES | Services media | 164.1K | $49.6M | 7.1% | -2.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 225.3K | $46.9M | 6.7% | -2.7% |
| GOOG ALPHABET INC-CL C | Technology | 150.4K | $43.1M | 6.2% | -3.5% |
| KD KYNDRYL HOLDINGS INC | Technology | 3.3M | $43.1M | 6.2% | +57.9% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 197.8K | $32.7M | 4.7% | -2.0% |
| FCNCA FIRST CITIZENS BCSHS -CL A | Financials | 17.3K | $32.6M | 4.7% | -36.9% |
| CI THE CIGNA GROUP | Financials | 120.5K | $32.1M | 4.6% | -3.2% |
| DHR DANAHER CORP | Technology | 166.0K | $31.5M | 4.5% | -2.3% |
| LB LANDBRIDGE CO LLC-A | Financials | 398.7K | $27.5M | 4.0% | -2.3% |
| KKR KKR & CO INC | Financials | 285.6K | $26.4M | 3.8% | +24.9% |
| BRO BROWN & BROWN INC | Financials | 392.5K | $25.6M | 3.7% | +35.6% |
| BDX BECTON DICKINSON AND CO | Healthcare | 154.0K | $24.2M | 3.5% | New |
| GOOGL ALPHABET INC-CL A | Technology | 80.7K | $23.2M | 3.3% | -2.1% |
| TPL TEXAS PACIFIC LAND CORP | Financials | 28.9K | $13.7M | 2.0% | -33.0% |
| OWL BLUE OWL CAPITAL INC | Financials | 1.3M | $12.1M | 1.7% | -3.1% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 65.7K | $12.0M | 1.7% | -2.0% |
| FA FIRST ADVANTAGE CORP | Technology | 905.3K | $10.6M | 1.5% | -3.2% |
| ICE INTERCONTINENTAL EXCHANGE IN | Financials | 52.0K | $8.2M | 1.2% | -3.1% |
| CSGP COSTAR GROUP INC | Services media | 181.0K | $7.3M | 1.0% | -1.2% |
| AAPL APPLE INC | Technology | 24.1K | $6.1M | 0.9% | -8.6% |
| WAT WATERS CORP | Healthcare | 17.0K | $5.1M | 0.7% | New |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 6 | $4.3M | 0.6% | -53.8% |
| IDXX IDEXX LABORATORIES INC | Materials | 5.3K | $3.0M | 0.4% | -4.0% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 5.0K | $2.4M | 0.3% | -10.4% |
| MSFT MICROSOFT CORP | Technology | 6.1K | $2.3M | 0.3% | -1.8% |
| CAT CATERPILLAR INC | Industrials | 2.1K | $1.5M | 0.2% | -4.5% |
| SHW SHERWIN-WILLIAMS CO/THE | Consumer discretionary | 3.9K | $1.3M | 0.2% | Held |
| FNV FRANCO-NEVADA CORP | Materials | 3.9K | $975K | 0.1% | Held |
| MO ALTRIA GROUP INC | Consumer staples | 10.8K | $714K | 0.1% | +1.5% |
| PG PROCTER & GAMBLE CO/THE | Other | 4.3K | $621K | 0.1% | -1.9% |
| CTT CTT-CORREIOS DE PORTUGAL | — | 84.9K | $592K | 0.1% | Held |
| PBA PEMBINA PIPELINE CORP | Energy | 11.9K | $534K | 0.1% | Held |
| CSCO CISCO SYSTEMS INC | Technology | 6.8K | $526K | 0.1% | Held |
| MRK MERCK & CO. INC. | Healthcare | 3.7K | $445K | 0.1% | -19.3% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.5K | $364K | 0.1% | -19.0% |
| BN BROOKFIELD CORP | Real estate | 8.9K | $358K | 0.1% | Held |
| MDLZ MONDELEZ INTERNATIONAL INC-A | Consumer staples | 6.0K | $345K | 0.0% | +0.7% |
| DE DEERE & CO | Industrials | 606 | $341K | 0.0% | Held |
| DOO BRP INC/CA- SUB VOTING | Industrials | 4.7K | $334K | 0.0% | Held |
| PGR PROGRESSIVE CORP | Financials | 1.4K | $286K | 0.0% | -3.3% |
| CMI CUMMINS INC | Industrials | 525 | $282K | 0.0% | +0.4% |
| UNP UNION PACIFIC CORP | Industrials | 1.1K | $268K | 0.0% | Held |
| WMT WALMART INC | Consumer discretionary | 2.1K | $257K | 0.0% | -4.6% |
| PEP PEPSICO INC | Consumer staples | 1.6K | $255K | 0.0% | Held |
| HD HOME DEPOT INC | Consumer discretionary | 710 | $234K | 0.0% | +0.1% |
| ADT ADT INC | Services media | 32.6K | $215K | 0.0% | Held |
| AMGN AMGEN INC | Healthcare | 600 | $211K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 30, 2026 | 62 | $696.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 28, 2026 | 64 | $792.1M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 23, 2025 | 64 | $846.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 23, 2025 | 59 | $856.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 1, 2025 | 56 | $832.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 23, 2025 | 59 | $879.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 29, 2024 | 57 | $823.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 29, 2024 | 56 | $790.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 22, 2024 | 52 | $772.9M | canonical | SEC ↗ |
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