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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
-10.25%
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
$405M
AUM Growth
-$60.8M
(-13%)
Cap. Flow
-$17.1M
Cap. Flow
% of AUM
-4.22%
Top 10 Holdings %
Top 10 Hldgs %
55.82%
Holding
38
New
6
Increased
12
Reduced
16
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ConocoPhillips
COP
|
+$5.86M |
| 2 |
REN
Resolute Energy Corporaton
REN
|
+$5.5M |
| 3 |
RRD
RR Donnelley & Sons Co.
RRD
|
+$4.9M |
| 4 |
DNR
Denbury Resources, Inc.
DNR
|
+$3.58M |
| 5 |
Upbound Group
UPBD
|
+$1.79M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Assured Guaranty
AGO
|
+$6.09M |
| 2 |
Navient
NAVI
|
+$5.58M |
| 3 |
Donnelley Financial Solutions
DFIN
|
+$5.37M |
| 4 |
Patterson-UTI
PTEN
|
+$4.1M |
| 5 |
Murphy Oil
MUR
|
+$3.94M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 31.65% |
| 2 | Financials | 23.48% |
| 3 | Industrials | 7.55% |
| 4 | Technology | 4.37% |
| 5 | Materials | 3.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
PUT
Intuit
INTU
$81.1B
| $5.8M | 1.43% |
+50,000
| New | +$5.99M |
|
27
Helmerich & Payne
HP
$3.53B
| $5.77M | 1.42% |
86,712
+19,886
| +30% | +$1.42M |
|
|
HTZ
28
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $5.61M | 1.38% |
368,267
-19,511
| -5% | -$354K |
|
|
REN
29
DELISTED
Resolute Energy Corporaton
REN
| $5.16M | 1.27% |
+127,734
| New | +$5.5M |
|
30
CALL
MBIA
MBI
$288M
| $4.24M | 1.04% |
+500,000
| New | +$5.03M |
|
31
CALL
Devon Energy
DVN
$51.9B
| $4.17M | 1.03% |
+100,000
| New | +$4.4M |
|
|
DNR
32
CALL
DELISTED
Denbury Resources, Inc.
DNR
| $2.32M | 0.57% |
900,000
-394,000
| -30% | -$1.22M |
|
33
PUT
Snap-on
SNA
$20.9B
| $2.25M | 0.56% |
+10,000
| New | +$1.72M |
|
|
SRCL
34
PUT
DELISTED
Stericycle Inc
SRCL
| $1.49M | 0.37% |
+18,000
| New | +$1.45M |
|
|
35
Donnelley Financial Solutions
DFIN
$1.21B
| – | – |
-233,512
| Closed | -$5.37M |
|
|
36
Navient
NAVI
$774M
| – | – |
-339,910
| Closed | -$5.58M |
|
|
X
37
PUT
DELISTED
US Steel
X
| – | – |
-100,000
| Closed | -$3.03M |
|
|
NMBL
38
DELISTED
Nimble Storage, Inc.
NMBL
| – | – |
-414,203
| Closed | -$3.28M |
|
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Elm Ridge Management's Q1 2017 Portfolio in Review
As of Q1 2017, Elm Ridge Management held 38 positions worth $405M, down 13% from $466M the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Elm Ridge Management withdrew a net $17.1M in Q1 2017, closing 4 positions and reducing 16 holdings. Its most notable exit was Navient, an estimated $5.58M position sold in full.
By sector, the portfolio is most concentrated in Energy at 32% of assets, up from 31% a quarter earlier, followed by Financials and Industrials.
Against the trend, Elm Ridge Management opened a new position in Resolute Energy Corporaton worth $5.16M.
- Elm Ridge Management's largest Q1 2017 buy was Resolute Energy Corporaton: 127,734 shares worth $5.16M.
- Elm Ridge Management added most to ConocoPhillips in Q1 2017, an estimated $5.86M increase.
- Elm Ridge Management's biggest Q1 2017 reduction was Assured Guaranty, cutting an estimated $6.09M.
- Elm Ridge Management fully exited Navient in Q1 2017, selling an estimated $5.58M.
- Elm Ridge Management's ten largest holdings make up 56% of its $405M portfolio in Q1 2017.
- Elm Ridge Management opened 6 new positions and closed 4 in Q1 2017.
- Elm Ridge Management's portfolio value fell 13% quarter-over-quarter to $405M.
Based on Elm Ridge Management's 13F filing for Q1 2017, filed 15 May 2017.