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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
-1.33%
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
$960M
AUM Growth
-$85.8M
(-8.2%)
Cap. Flow
-$85.3M
Cap. Flow
% of AUM
-8.89%
Top 10 Holdings %
Top 10 Hldgs %
61.99%
Holding
37
New
2
Increased
8
Reduced
21
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
QEP
QEP RESOURCES, INC.
QEP
|
+$13.6M |
| 2 |
FITB
Fifth Third Bancorp
FITB
|
+$6.6M |
| 3 |
DNR
Denbury Resources, Inc.
DNR
|
+$5.87M |
| 4 |
Terex
TEX
|
+$4.73M |
| 5 |
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
|
+$4.06M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boston Scientific
BSX
|
+$21.2M |
| 2 |
NFX
Newfield Exploration
NFX
|
+$20.3M |
| 3 |
UFS
DOMTAR CORPORATION (New)
UFS
|
+$19.4M |
| 4 |
IPG
Interpublic Group of Companies
IPG
|
+$18.7M |
| 5 |
MBIA
MBI
|
+$9.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.32% |
| 2 | Energy | 11.54% |
| 3 | Technology | 6.1% |
| 4 | Healthcare | 5.18% |
| 5 | Consumer Discretionary | 5.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $222M | 23.17% |
1,788,900
+777,100
| +77% | +$93.7M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $107M | 11.11% |
516,800
-376,200
| -42% | -$77.6M |
|
|
DNY
3
DELISTED
DONNELLEY R R & SONS CO
DNY
| $44.2M | 4.61% |
2,304,325
-175,585
| -7% | -$3.37M |
|
4
Assured Guaranty
AGO
$3.78B
| $40.8M | 4.25% |
1,545,376
-100,227
| -6% | -$2.59M |
|
|
5
MBIA
MBI
$288M
| $39.6M | 4.13% |
4,260,631
-1,089,038
| -20% | -$9.7M |
|
6
APA Corp
APA
$12.8B
| $30.6M | 3.19% |
507,205
+8,802
| +2% | +$554K |
|
|
RDS.A
7
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $29.1M | 3.03% |
487,684
+64,025
| +15% | +$4.06M |
|
|
DNR
8
DELISTED
Denbury Resources, Inc.
DNR
| $27.9M | 2.9% |
3,823,717
+757,643
| +25% | +$5.87M |
|
9
Carnival Corporation Ltd
CCL
$36.1B
| $27.3M | 2.84% |
570,635
-35,310
| -6% | -$1.59M |
|
10
American International
AIG
$41.9B
| $26.6M | 2.77% |
484,606
-131,590
| -21% | -$7.06M |
|
11
Eli Lilly
LLY
$1.07T
| $26M | 2.7% |
357,478
-22,001
| -6% | -$1.57M |
|
|
ASNA
12
DELISTED
Ascena Retail Group, Inc.
ASNA
| $24.8M | 2.58% |
85,288
-5,311
| -6% | -$1.35M |
|
13
Merck
MRK
$324B
| $23.8M | 2.48% |
433,500
-26,878
| -6% | -$1.52M |
|
14
Murphy Oil
MUR
$5.58B
| $23.3M | 2.42% |
499,232
+8,665
| +2% | +$419K |
|
15
Upbound Group
UPBD
$1.19B
| $23.1M | 2.4% |
840,957
+66,273
| +9% | +$2.02M |
|
|
DF
16
DELISTED
Dean Foods Company
DF
| $22.7M | 2.36% |
1,371,386
-85,445
| -6% | -$1.47M |
|
17
Goldman Sachs
GS
$313B
| $22.3M | 2.33% |
118,806
-7,434
| -6% | -$1.38M |
|
18
Jabil
JBL
$32.8B
| $21.4M | 2.23% |
915,877
-57,325
| -6% | -$1.25M |
|
19
Citigroup
C
$222B
| $20.8M | 2.17% |
404,182
-25,292
| -6% | -$1.29M |
|
20
Alcoa
AA
$11.7B
| $19.9M | 2.07% |
639,919
-69,344
| -10% | -$2.49M |
|
|
21
Terex
TEX
$7.98B
| $19M | 1.98% |
715,640
+187,366
| +35% | +$4.73M |
|
22
Quad
QUAD
$430M
| $16.1M | 1.67% |
699,440
-98,154
| -12% | -$2.17M |
|
|
UPL
23
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $14.5M | 1.51% |
928,280
-58,316
| -6% | -$847K |
|
24
Popular Inc
BPOP
$11B
| $14.3M | 1.49% |
416,419
-26,080
| -6% | -$863K |
|
25
Teradyne
TER
$54.8B
| $14.1M | 1.46% |
745,843
-46,692
| -6% | -$895K |
|
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Elm Ridge Management's Q1 2015 Portfolio in Review
As of Q1 2015, Elm Ridge Management held 37 positions worth $960M, down 8.2% from $1.05B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Elm Ridge Management withdrew a net $85.3M in Q1 2015, closing 6 positions and reducing 21 holdings. Its most notable exit was Boston Scientific, an estimated $21.2M position sold in full.
By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 20% a quarter earlier, followed by Energy and Technology.
Against the trend, Elm Ridge Management opened a new position in QEP RESOURCES, INC. worth $13.6M.
- Elm Ridge Management's largest Q1 2015 buy was QEP RESOURCES, INC.: 651,679 shares worth $13.6M.
- Elm Ridge Management added most to Denbury Resources, Inc. in Q1 2015, an estimated $5.87M increase.
- Elm Ridge Management's biggest Q1 2015 reduction was MBIA, cutting an estimated $9.7M.
- Elm Ridge Management fully exited Boston Scientific in Q1 2015, selling an estimated $21.2M.
- Elm Ridge Management's ten largest holdings make up 62% of its $960M portfolio in Q1 2015.
- Elm Ridge Management opened 2 new positions and closed 6 in Q1 2015.
- Elm Ridge Management's portfolio value fell 8.2% quarter-over-quarter to $960M.
Based on Elm Ridge Management's 13F filing for Q1 2015, filed 15 May 2015.