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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
+7.77%
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
$817M
AUM Growth
-$103M
Cap. Flow
-$169M
Cap. Flow %
-20.72%
Top 10 Hldgs %
37.84%
Holding
71
New
4
Increased
11
Reduced
25
Closed
14

Top Buys

Rank Stock Value
1
IPG
Interpublic Group of Companies
IPG
+$13M
2
ANF icon
Abercrombie & Fitch
ANF
+$9.91M
3
ARO
Aeropostale Inc
ARO
+$9.51M
4
SVU
SUPERVALU Inc.
SVU
+$8.66M
5
JBL icon
Jabil
JBL
+$6.46M

Top Sells

Rank Stock Value
1
LEA icon
Lear
LEA
+$19.4M
2
AET
Aetna Inc
AET
+$17.6M
3
DNY
DONNELLEY R R & SONS CO
DNY
+$16.7M
4
NAV
Navistar International
NAV
+$15.2M
5
FAF icon
First American
FAF
+$13.7M

Sector Composition

Rank Sector Weight
1 Financials 21.44%
2 Technology 11.81%
3 Healthcare 11.77%
4 Industrials 10.95%
5 Materials 10.52%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADT
51
DELISTED
ADT Corp
ADT
$3.21M 0.39%
79,245
– –
AVB icon
52
AvalonBay Communities
AVB
$27.1B
$3.05M 0.37%
25,800
– –
HDS
53
DELISTED
HD Supply Holdings, Inc.
HDS
$2.9M 0.35%
120,600
– –
RTI
54
DELISTED
RTI INTL METALS INC(HLDG CO)
RTI
$1.8M 0.22%
52,670
– –
REG icon
55
Regency Centers
REG
$15B
$1.57M 0.19%
34,000
– –
EQIX icon
56
Equinix
EQIX
$107B
$1.21M 0.15%
6,842
– –
VMC icon
57
Vulcan Materials
VMC
$36.3B
$692K 0.08%
11,651
– –
AWI icon
58
Armstrong World Industries
AWI
$6.86B
– –
-80,510
Closed -$4.42M
CMG icon
59
Chipotle Mexican Grill
CMG
$40.8B
– –
-853,600
Closed -$7.32M
DAL icon
60
Delta Air Lines
DAL
$55.9B
– –
-359,488
Closed -$8.48M
FAF icon
61
First American
FAF
$7.67B
– –
-561,468
Closed -$13.7M
HXL icon
62
Hexcel
HXL
$8.32B
– –
-165,606
Closed -$6.43M
ICUI icon
63
ICU Medical
ICUI
$3.93B
– –
-170,400
Closed -$11.6M
IPI icon
64
Intrepid Potash
IPI
$460M
– –
-10,820
Closed -$1.7M
LEA icon
65
Lear
LEA
$7.19B
– –
-271,254
Closed -$19.4M
ORCL icon
66
Oracle
ORCL
$331B
– –
-394,200
Closed -$13.1M
UAL icon
67
United Airlines
UAL
$38.4B
– –
-273,642
Closed -$8.4M
NAV
68
DELISTED
Navistar International
NAV
– –
-416,369
Closed -$15.2M
TCO
69
DELISTED
Taubman Centers Inc.
TCO
– –
-23,800
Closed -$1.6M
AET
70
DELISTED
Aetna Inc
AET
– –
-275,087
Closed -$17.6M
SBY
71
DELISTED
Silver Bay Realty Trust Corp.
SBY
– –
-391,223
Closed -$6.13M
1 2
3

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Elm Ridge Management's Q4 2013 Portfolio in Review

As of Q4 2013, Elm Ridge Management held 71 positions worth $817M, down 11% from $920M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Elm Ridge Management withdrew a net $169M in Q4 2013, closing 14 positions and reducing 25 holdings. Its most notable exit was Lear, an estimated $19.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 21% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Elm Ridge Management opened a new position in Interpublic Group of Companies worth $13.7M.

  • Elm Ridge Management's largest Q4 2013 buy was Interpublic Group of Companies: 773,500 shares worth $13.7M.
  • Elm Ridge Management added most to SUPERVALU Inc. in Q4 2013, an estimated $8.66M increase.
  • Elm Ridge Management's biggest Q4 2013 reduction was DONNELLEY R R & SONS CO, cutting an estimated $16.7M.
  • Elm Ridge Management fully exited Lear in Q4 2013, selling an estimated $19.4M.
  • Elm Ridge Management's ten largest holdings make up 38% of its $817M portfolio in Q4 2013.
  • Elm Ridge Management opened 4 new positions and closed 14 in Q4 2013.
  • Elm Ridge Management's portfolio value fell 11% quarter-over-quarter to $817M.

Based on Elm Ridge Management's 13F filing for Q4 2013, filed 14 Feb 2014.