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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
-1.18%
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
$519M
AUM Growth
-$168M
(-24%)
Cap. Flow
-$157M
Cap. Flow
% of AUM
-30.19%
Top 10 Holdings %
Top 10 Hldgs %
59.66%
Holding
34
New
–
Increased
10
Reduced
20
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MBIA
MBI
|
+$4.74M |
| 2 |
MRO
Marathon Oil Corporation
MRO
|
+$3.73M |
| 3 |
SWN
Southwestern Energy Company
SWN
|
+$3.17M |
| 4 |
ASNA
Ascena Retail Group, Inc.
ASNA
|
+$2.88M |
| 5 |
Herc Holdings
HRI
|
+$2.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Jabil
JBL
|
+$20.7M |
| 2 |
Assured Guaranty
AGO
|
+$9.84M |
| 3 |
Abercrombie & Fitch
ANF
|
+$8.42M |
| 4 |
Applied Materials
AMAT
|
+$6.13M |
| 5 |
Terex
TEX
|
+$4.09M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 30.08% |
| 2 | Energy | 22.81% |
| 3 | Industrials | 10.87% |
| 4 | Technology | 5.35% |
| 5 | Materials | 3.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $75.5M | 14.54% |
670,000
-527,500
| -44% | -$60.8M |
|
|
2
MBIA
MBI
$288M
| $38.2M | 7.36% |
5,892,521
+698,982
| +13% | +$4.74M |
|
|
DNY
3
DELISTED
DONNELLEY R R & SONS CO
DNY
| $34.8M | 6.7% |
2,360,806
-53,779
| -2% | -$792K |
|
|
4
Assured Guaranty
AGO
$3.78B
| $31.1M | 6% |
1,177,926
-366,774
| -24% | -$9.84M |
|
5
APA Corp
APA
$12.8B
| $29M | 5.59% |
651,817
-23,271
| -3% | -$1.08M |
|
6
Patterson-UTI
PTEN
$3.87B
| $25.3M | 4.87% |
1,676,360
-58,831
| -3% | -$905K |
|
7
Citigroup
C
$222B
| $22.2M | 4.28% |
429,206
-15,067
| -3% | -$799K |
|
8
Bank of America
BAC
$435B
| $20.4M | 3.93% |
1,212,194
-42,865
| -3% | -$725K |
|
|
QEP
9
DELISTED
QEP RESOURCES, INC.
QEP
| $16.9M | 3.26% |
1,261,956
-69,623
| -5% | -$1.01M |
|
|
FITB
10
Fifth Third Bancorp
FITB
$52B
| $16.2M | 3.12% |
806,222
-28,399
| -3% | -$563K |
|
11
Alcoa
AA
$11.7B
| $16M | 3.08% |
674,433
-145,059
| -18% | -$3.24M |
|
|
CBI
12
DELISTED
Chicago Bridge & Iron Nv
CBI
| $15.7M | 3.03% |
402,675
-14,140
| -3% | -$587K |
|
|
13
Herc Holdings
HRI
$5.43B
| $15.5M | 2.98% |
362,367
+55,786
| +18% | +$2.8M |
|
14
Helmerich & Payne
HP
$3.53B
| $15.3M | 2.95% |
285,528
-10,102
| -3% | -$559K |
|
15
Murphy Oil
MUR
$5.58B
| $14.6M | 2.82% |
652,178
-22,990
| -3% | -$620K |
|
|
16
Terex
TEX
$7.98B
| $14.5M | 2.8% |
787,120
-207,136
| -21% | -$4.09M |
|
17
Popular Inc
BPOP
$11B
| $13.5M | 2.59% |
474,992
-16,901
| -3% | -$500K |
|
|
DNR
18
DELISTED
Denbury Resources, Inc.
DNR
| $12.6M | 2.44% |
6,260,538
-214,205
| -3% | -$690K |
|
19
Upbound Group
UPBD
$1.19B
| $11.4M | 2.19% |
759,769
-26,342
| -3% | -$503K |
|
20
Quad
QUAD
$430M
| $10.7M | 2.06% |
1,146,572
+98,856
| +9% | +$1.06M |
|
|
ASNA
21
DELISTED
Ascena Retail Group, Inc.
ASNA
| $10.5M | 2.03% |
53,513
+12,222
| +30% | +$2.88M |
|
22
Navient
NAVI
$774M
| $9.96M | 1.92% |
869,806
+19,110
| +2% | +$234K |
|
23
Progress Software
PRGS
$1.55B
| $9.91M | 1.91% |
412,849
+40,530
| +11% | +$968K |
|
|
SWN
24
DELISTED
Southwestern Energy Company
SWN
| $8.58M | 1.65% |
1,207,191
+323,728
| +37% | +$3.17M |
|
|
CRC
25
DELISTED
California Resources Corporation
CRC
| $8.01M | 1.54% |
343,573
-7,835
| -2% | -$282K |
|
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Elm Ridge Management's Q4 2015 Portfolio in Review
As of Q4 2015, Elm Ridge Management held 34 positions worth $519M, down 24% from $687M the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Elm Ridge Management withdrew a net $157M in Q4 2015, closing 3 positions and reducing 20 holdings. Its most notable exit was Jabil, an estimated $20.7M position sold in full.
By sector, the portfolio is most concentrated in Financials at 30% of assets, up from 24% a quarter earlier, followed by Energy and Industrials.
Against the trend, Elm Ridge Management added an estimated $4.74M to MBIA.
- Elm Ridge Management added most to MBIA in Q4 2015, an estimated $4.74M increase.
- Elm Ridge Management's biggest Q4 2015 reduction was Assured Guaranty, cutting an estimated $9.84M.
- Elm Ridge Management fully exited Jabil in Q4 2015, selling an estimated $20.7M.
- Elm Ridge Management's ten largest holdings make up 60% of its $519M portfolio in Q4 2015.
- Elm Ridge Management opened 0 new positions and closed 3 in Q4 2015.
- Elm Ridge Management's portfolio value fell 24% quarter-over-quarter to $519M.
Based on Elm Ridge Management's 13F filing for Q4 2015, filed 16 Feb 2016.