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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
-5.41%
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
$801M
AUM Growth
-$160M
(-17%)
Cap. Flow
-$102M
Cap. Flow
% of AUM
-12.73%
Top 10 Holdings %
Top 10 Hldgs %
57.39%
Holding
38
New
7
Increased
17
Reduced
8
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Patterson-UTI
PTEN
|
+$27.8M |
| 2 |
Herc Holdings
HRI
|
+$20.6M |
| 3 |
CBI
Chicago Bridge & Iron Nv
CBI
|
+$18.5M |
| 4 |
CRC
California Resources Corporation
CRC
|
+$15.8M |
| 5 |
Progress Software
PRGS
|
+$10.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
|
+$29.1M |
| 2 |
Carnival Corporation Ltd
CCL
|
+$27.3M |
| 3 |
Eli Lilly
LLY
|
+$26M |
| 4 |
Merck
MRK
|
+$23.8M |
| 5 |
SVU
SUPERVALU Inc.
SVU
|
+$14.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.64% |
| 2 | Energy | 16.32% |
| 3 | Industrials | 9.4% |
| 4 | Technology | 7.58% |
| 5 | Consumer Staples | 2.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $112M | 13.96% |
895,000
-893,900
| -50% | -$112M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $93.7M | 11.7% |
455,000
-61,800
| -12% | -$13M |
|
|
DNY
3
DELISTED
DONNELLEY R R & SONS CO
DNY
| $37.3M | 4.65% |
2,137,966
-166,359
| -7% | -$2.9M |
|
4
Assured Guaranty
AGO
$3.78B
| $37.1M | 4.63% |
1,544,700
-676
| -0% | -$18.8K |
|
5
APA Corp
APA
$12.8B
| $33.9M | 4.24% |
588,310
+81,105
| +16% | +$5.11M |
|
|
DNR
6
DELISTED
Denbury Resources, Inc.
DNR
| $31.1M | 3.88% |
4,883,269
+1,059,552
| +28% | +$8.08M |
|
7
MBIA
MBI
$288M
| $30.6M | 3.83% |
5,099,789
+839,158
| +20% | +$7.58M |
|
8
American International
AIG
$41.9B
| $30.3M | 3.78% |
489,931
+5,325
| +1% | +$315K |
|
9
Murphy Oil
MUR
$5.58B
| $28.6M | 3.57% |
688,273
+189,041
| +38% | +$8.6M |
|
|
10
Patterson-UTI
PTEN
$3.87B
| $25.2M | 3.15% |
+1,340,509
| New | +$27.8M |
|
11
Citigroup
C
$222B
| $22.7M | 2.83% |
410,564
+6,382
| +2% | +$347K |
|
|
DF
12
DELISTED
Dean Foods Company
DF
| $22.4M | 2.79% |
1,383,640
+12,254
| +0.9% | +$214K |
|
|
ASNA
13
DELISTED
Ascena Retail Group, Inc.
ASNA
| $22.4M | 2.79% |
67,129
-18,159
| -21% | -$5.56M |
|
14
Upbound Group
UPBD
$1.19B
| $21.9M | 2.74% |
773,785
-67,172
| -8% | -$2.02M |
|
15
Alcoa
AA
$11.7B
| $21.3M | 2.67% |
796,604
+156,685
| +24% | +$4.86M |
|
16
Jabil
JBL
$32.8B
| $20.1M | 2.51% |
942,421
+26,544
| +3% | +$626K |
|
17
Goldman Sachs
GS
$313B
| $19.9M | 2.49% |
95,391
-23,415
| -20% | -$4.77M |
|
|
QEP
18
DELISTED
QEP RESOURCES, INC.
QEP
| $19.9M | 2.48% |
1,072,480
+420,801
| +65% | +$8.63M |
|
19
Terex
TEX
$7.98B
| $19.1M | 2.38% |
821,103
+105,463
| +15% | +$2.78M |
|
|
20
Herc Holdings
HRI
$5.43B
| $18.1M | 2.26% |
+333,336
| New | +$20.6M |
|
|
CBI
21
DELISTED
Chicago Bridge & Iron Nv
CBI
| $17.8M | 2.22% |
+355,358
| New | +$18.5M |
|
|
FITB
22
Fifth Third Bancorp
FITB
$52B
| $14.6M | 1.83% |
702,966
+352,705
| +101% | +$7.15M |
|
23
Popular Inc
BPOP
$11B
| $14.2M | 1.77% |
491,893
+75,474
| +18% | +$2.54M |
|
24
Quad
QUAD
$430M
| $14.1M | 1.76% |
760,994
+61,554
| +9% | +$1.3M |
|
25
Abercrombie & Fitch
ANF
$4.17B
| $12.7M | 1.59% |
592,469
+149,679
| +34% | +$3.29M |
|
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Elm Ridge Management's Q2 2015 Portfolio in Review
As of Q2 2015, Elm Ridge Management held 38 positions worth $801M, down 17% from $960M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Elm Ridge Management withdrew a net $102M in Q2 2015, closing 5 positions and reducing 8 holdings. Its most notable exit was Royal Dutch Shell PLC ADS Class A, an estimated $29.1M position sold in full.
By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 19% a quarter earlier, followed by Energy and Industrials.
Against the trend, Elm Ridge Management opened a new position in Patterson-UTI worth $25.2M.
- Elm Ridge Management's largest Q2 2015 buy was Patterson-UTI: 1,340,509 shares worth $25.2M.
- Elm Ridge Management added most to QEP RESOURCES, INC. in Q2 2015, an estimated $8.63M increase.
- Elm Ridge Management's biggest Q2 2015 reduction was Teradyne, cutting an estimated $6.38M.
- Elm Ridge Management fully exited Royal Dutch Shell PLC ADS Class A in Q2 2015, selling an estimated $29.1M.
- Elm Ridge Management's ten largest holdings make up 57% of its $801M portfolio in Q2 2015.
- Elm Ridge Management opened 7 new positions and closed 5 in Q2 2015.
- Elm Ridge Management's portfolio value fell 17% quarter-over-quarter to $801M.
Based on Elm Ridge Management's 13F filing for Q2 2015, filed 14 Aug 2015.