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ERM
Elm Ridge Management Portfolio holdings
AUM
$88.8M
1-Year Est. Return
18.88%
This Fund
S&P 500
This Quarter
Est. Return
+14.35%
1 Year Est. Return
+18.88%
3 Year Est. Return
+93.64%
5 Year Est. Return
+193.58%
10 Year Est. Return
+285.91%
AUM
$415M
AUM Growth
-$153M
(-27%)
Cap. Flow
-$190M
Cap. Flow
% of AUM
-45.85%
Top 10 Holdings %
Top 10 Hldgs %
61.28%
Holding
37
New
3
Increased
2
Reduced
27
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Devon Energy
DVN
|
+$10.8M |
| 2 |
Micron Technology
MU
|
+$2.88M |
| 3 |
CRC
California Resources Corporation
CRC
|
+$27K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Patterson-UTI
PTEN
|
+$13.7M |
| 2 |
FITB
Fifth Third Bancorp
FITB
|
+$12.4M |
| 3 |
APA Corp
APA
|
+$11.8M |
| 4 |
Applied Materials
AMAT
|
+$10.7M |
| 5 |
Murphy Oil
MUR
|
+$9.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 29.53% |
| 2 | Financials | 22.5% |
| 3 | Industrials | 8.89% |
| 4 | Technology | 3.7% |
| 5 | Materials | 1.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
CALL
MBIA
MBI
$288M
| $6.04M | 1.45% |
+884,500
| New | +$6.57M |
|
|
DNR
27
CALL
DELISTED
Denbury Resources, Inc.
DNR
| $4.88M | 1.18% |
1,360,000
-140,000
| -9% | -$526K |
|
28
PUT
TransDigm Group
TDG
$69.2B
| $4.83M | 1.16% |
18,300
-11,700
| -39% | -$2.86M |
|
|
29
Micron Technology
MU
$1.04T
| $3.49M | 0.84% |
+253,720
| New | +$2.88M |
|
|
NMBL
30
DELISTED
Nimble Storage, Inc.
NMBL
| $3.47M | 0.83% |
435,472
-139,424
| -24% | -$1.09M |
|
|
ASNA
31
DELISTED
Ascena Retail Group, Inc.
ASNA
| $2.12M | 0.51% |
15,189
-47,441
| -76% | -$7.69M |
|
32
PUT
Bausch Health
BHC
$1.65B
| $1.7M | 0.41% |
84,500
+39,500
| +88% | +$1.12M |
|
|
33
Applied Materials
AMAT
$426B
| – | – |
-507,330
| Closed | -$10.7M |
|
|
FITB
34
Fifth Third Bancorp
FITB
$52B
| – | – |
-742,141
| Closed | -$12.4M |
|
|
LNW
35
DELISTED
Light & Wonder
LNW
| – | – |
-365,050
| Closed | -$3.44M |
|
|
MRO
36
DELISTED
Marathon Oil Corporation
MRO
| – | – |
-375,767
| Closed | -$4.19M |
|
|
ARO
37
DELISTED
Aeropostale Inc
ARO
| – | – |
-2,833,671
| Closed | -$562K |
|
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Elm Ridge Management's Q2 2016 Portfolio in Review
As of Q2 2016, Elm Ridge Management held 37 positions worth $415M, down 27% from $569M the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Elm Ridge Management withdrew a net $190M in Q2 2016, closing 5 positions and reducing 27 holdings. Its most notable exit was Fifth Third Bancorp, an estimated $12.4M position sold in full.
By sector, the portfolio is most concentrated in Energy at 30% of assets, up from 25% a quarter earlier, followed by Financials and Industrials.
Against the trend, Elm Ridge Management opened a new position in Devon Energy worth $11.5M.
- Elm Ridge Management's largest Q2 2016 buy was Devon Energy: 317,809 shares worth $11.5M.
- Elm Ridge Management added most to California Resources Corporation in Q2 2016, an estimated $27K increase.
- Elm Ridge Management's biggest Q2 2016 reduction was Patterson-UTI, cutting an estimated $13.7M.
- Elm Ridge Management fully exited Fifth Third Bancorp in Q2 2016, selling an estimated $12.4M.
- Elm Ridge Management's ten largest holdings make up 61% of its $415M portfolio in Q2 2016.
- Elm Ridge Management opened 3 new positions and closed 5 in Q2 2016.
- Elm Ridge Management's portfolio value fell 27% quarter-over-quarter to $415M.
Based on Elm Ridge Management's 13F filing for Q2 2016, filed 15 Aug 2016.