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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
-17.87%
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
$687M
AUM Growth
-$113M
(-14%)
Cap. Flow
+$37M
Cap. Flow
% of AUM
5.39%
Top 10 Holdings %
Top 10 Hldgs %
58.89%
Holding
39
New
6
Increased
17
Reduced
8
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$21.1M |
| 2 |
Helmerich & Payne
HP
|
+$16.7M |
| 3 |
SWN
Southwestern Energy Company
SWN
|
+$15.3M |
| 4 |
Navient
NAVI
|
+$12.4M |
| 5 |
Applied Materials
AMAT
|
+$11.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
American International
AIG
|
+$30.3M |
| 2 |
DF
Dean Foods Company
DF
|
+$22.4M |
| 3 |
Goldman Sachs
GS
|
+$19.9M |
| 4 |
Teradyne
TER
|
+$8.23M |
| 5 |
ASNA
Ascena Retail Group, Inc.
ASNA
|
+$6.75M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.61% |
| 2 | Energy | 17.21% |
| 3 | Industrials | 9.09% |
| 4 | Technology | 8.68% |
| 5 | Materials | 2.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$79.8B
| $131M | 19.03% |
1,197,500
+302,500
| +34% | +$35.9M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
| $57M | 8.3% |
297,500
-157,500
| -35% | -$31.9M |
|
3
Assured Guaranty
AGO
$3.78B
| $38.6M | 5.62% |
1,544,700
| – | – |
|
|
DNY
4
DELISTED
DONNELLEY R R & SONS CO
DNY
| $35.2M | 5.12% |
2,414,585
+276,619
| +13% | +$4.03M |
|
5
MBIA
MBI
$288M
| $31.6M | 4.6% |
5,193,539
+93,750
| +2% | +$602K |
|
6
APA Corp
APA
$12.8B
| $26.4M | 3.85% |
675,088
+86,778
| +15% | +$3.95M |
|
7
Patterson-UTI
PTEN
$3.87B
| $22.8M | 3.32% |
1,735,191
+394,682
| +29% | +$6.25M |
|
8
Citigroup
C
$222B
| $22M | 3.21% |
444,273
+33,709
| +8% | +$1.84M |
|
9
Jabil
JBL
$32.8B
| $20.7M | 3.01% |
924,090
-18,331
| -2% | -$364K |
|
|
10
Bank of America
BAC
$435B
| $19.6M | 2.85% |
+1,255,059
| New | +$21.1M |
|
11
Upbound Group
UPBD
$1.19B
| $19.1M | 2.77% |
786,111
+12,326
| +2% | +$331K |
|
12
Alcoa
AA
$11.7B
| $19M | 2.77% |
819,492
+22,888
| +3% | +$536K |
|
13
Terex
TEX
$7.98B
| $17.8M | 2.6% |
994,256
+173,153
| +21% | +$3.78M |
|
|
QEP
14
DELISTED
QEP RESOURCES, INC.
QEP
| $16.7M | 2.43% |
1,331,579
+259,099
| +24% | +$3.58M |
|
|
CBI
15
DELISTED
Chicago Bridge & Iron Nv
CBI
| $16.5M | 2.41% |
416,815
+61,457
| +17% | +$2.84M |
|
16
Murphy Oil
MUR
$5.58B
| $16.3M | 2.38% |
675,168
-13,105
| -2% | -$419K |
|
|
DNR
17
DELISTED
Denbury Resources, Inc.
DNR
| $15.8M | 2.3% |
6,474,743
+1,591,474
| +33% | +$6.15M |
|
|
FITB
18
Fifth Third Bancorp
FITB
$52B
| $15.8M | 2.3% |
834,621
+131,655
| +19% | +$2.67M |
|
19
Herc Holdings
HRI
$5.43B
| $15.4M | 2.24% |
306,581
-26,755
| -8% | -$1.4M |
|
20
Popular Inc
BPOP
$11B
| $14.9M | 2.16% |
491,893
| – | – |
|
|
21
Helmerich & Payne
HP
$3.53B
| $14M | 2.03% |
+295,630
| New | +$16.7M |
|
22
Quad
QUAD
$430M
| $12.7M | 1.85% |
1,047,716
+286,722
| +38% | +$4.35M |
|
|
ASNA
23
DELISTED
Ascena Retail Group, Inc.
ASNA
| $11.5M | 1.67% |
41,291
-25,838
| -38% | -$6.75M |
|
|
SWN
24
DELISTED
Southwestern Energy Company
SWN
| $11.2M | 1.63% |
+883,463
| New | +$15.3M |
|
|
25
Applied Materials
AMAT
$426B
| $10.3M | 1.49% |
+698,272
| New | +$11.7M |
|
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Elm Ridge Management's Q3 2015 Portfolio in Review
As of Q3 2015, Elm Ridge Management held 39 positions worth $687M, down 14% from $801M the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Elm Ridge Management deployed $37M of net new capital in Q3 2015, opening 6 new positions and adding to 17 existing holdings. Its largest new stake was Bank of America: 1,255,059 shares worth $19.6M.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 23% a quarter earlier, followed by Energy and Industrials.
On the sell side, the largest reduction was Ascena Retail Group, Inc., an estimated $6.75M trimmed.
- Elm Ridge Management's largest Q3 2015 buy was Bank of America: 1,255,059 shares worth $19.6M.
- Elm Ridge Management added most to Patterson-UTI in Q3 2015, an estimated $6.25M increase.
- Elm Ridge Management's biggest Q3 2015 reduction was Ascena Retail Group, Inc., cutting an estimated $6.75M.
- Elm Ridge Management fully exited American International in Q3 2015, selling an estimated $30.3M.
- Elm Ridge Management's ten largest holdings make up 59% of its $687M portfolio in Q3 2015.
- Elm Ridge Management opened 6 new positions and closed 5 in Q3 2015.
- Elm Ridge Management's portfolio value fell 14% quarter-over-quarter to $687M.
Based on Elm Ridge Management's 13F filing for Q3 2015, filed 16 Nov 2015.