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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
+14.35%
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
$415M
AUM Growth
-$153M
(-27%)
Cap. Flow
-$190M
Cap. Flow
% of AUM
-45.85%
Top 10 Holdings %
Top 10 Hldgs %
61.28%
Holding
37
New
3
Increased
2
Reduced
27
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Devon Energy
DVN
|
+$10.8M |
| 2 |
Micron Technology
MU
|
+$2.88M |
| 3 |
CRC
California Resources Corporation
CRC
|
+$27K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Patterson-UTI
PTEN
|
+$13.7M |
| 2 |
FITB
Fifth Third Bancorp
FITB
|
+$12.4M |
| 3 |
APA Corp
APA
|
+$11.8M |
| 4 |
Applied Materials
AMAT
|
+$10.7M |
| 5 |
Murphy Oil
MUR
|
+$9.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 29.53% |
| 2 | Financials | 22.5% |
| 3 | Industrials | 8.89% |
| 4 | Technology | 3.7% |
| 5 | Materials | 1.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $86.3M | 20.78% |
750,600
-449,400
| -37% | -$50.7M |
|
|
DNY
2
DELISTED
DONNELLEY R R & SONS CO
DNY
| $25.2M | 6.07% |
1,490,806
-276,338
| -16% | -$4.68M |
|
3
MBIA
MBI
$288M
| $23.9M | 5.75% |
3,494,726
-1,136,556
| -25% | -$8.45M |
|
|
4
APA Corp
APA
$12.8B
| $21.4M | 5.14% |
383,716
-216,303
| -36% | -$11.8M |
|
5
Assured Guaranty
AGO
$3.78B
| $19.8M | 4.77% |
780,278
-229,406
| -23% | -$5.91M |
|
6
Quad
QUAD
$430M
| $18.6M | 4.49% |
800,428
-253,593
| -24% | -$4.3M |
|
|
7
Murphy Oil
MUR
$5.58B
| $17.5M | 4.22% |
552,373
-310,858
| -36% | -$9.4M |
|
|
8
Patterson-UTI
PTEN
$3.87B
| $17.3M | 4.17% |
811,966
-729,704
| -47% | -$13.7M |
|
9
Citigroup
C
$222B
| $12.4M | 2.99% |
292,537
-44,779
| -13% | -$1.98M |
|
|
DNR
10
DELISTED
Denbury Resources, Inc.
DNR
| $12.1M | 2.91% |
3,363,682
-1,888,990
| -36% | -$7.1M |
|
|
11
Devon Energy
DVN
$51.9B
| $11.5M | 2.77% |
+317,809
| New | +$10.8M |
|
12
American International
AIG
$41.9B
| $11M | 2.66% |
208,535
-15,740
| -7% | -$869K |
|
13
Bank of America
BAC
$435B
| $10.5M | 2.54% |
794,956
-261,255
| -25% | -$3.67M |
|
|
SWN
14
DELISTED
Southwestern Energy Company
SWN
| $10.3M | 2.49% |
821,543
-389,689
| -32% | -$4.72M |
|
15
Range Resources
RRC
$9.11B
| $10.1M | 2.44% |
234,775
-132,213
| -36% | -$5.41M |
|
16
Herc Holdings
HRI
$5.43B
| $10.1M | 2.43% |
303,612
-171,123
| -36% | -$4.91M |
|
17
Popular Inc
BPOP
$11B
| $9.67M | 2.33% |
330,180
-102,926
| -24% | -$3.03M |
|
|
QEP
18
DELISTED
QEP RESOURCES, INC.
QEP
| $8.88M | 2.14% |
503,393
-63,544
| -11% | -$1.1M |
|
19
Upbound Group
UPBD
$1.19B
| $8.41M | 2.02% |
684,819
-131,789
| -16% | -$1.77M |
|
|
CBI
20
DELISTED
Chicago Bridge & Iron Nv
CBI
| $8.21M | 1.98% |
236,961
-133,575
| -36% | -$4.93M |
|
21
Helmerich & Payne
HP
$3.53B
| $7.86M | 1.89% |
117,153
-145,446
| -55% | -$8.99M |
|
|
CRC
22
DELISTED
California Resources Corporation
CRC
| $7.53M | 1.81% |
617,601
+1,696
| +0.3% | +$27K |
|
23
Alcoa
AA
$11.7B
| $6.99M | 1.68% |
313,787
-305,916
| -49% | -$7.16M |
|
24
Nabors Industries
NBR
$1.23B
| $6.96M | 1.68% |
13,851
-214
| -2% | -$101K |
|
25
Navient
NAVI
$774M
| $6.11M | 1.47% |
511,703
-287,287
| -36% | -$3.65M |
|
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Elm Ridge Management's Q2 2016 Portfolio in Review
As of Q2 2016, Elm Ridge Management held 37 positions worth $415M, down 27% from $569M the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Elm Ridge Management withdrew a net $190M in Q2 2016, closing 5 positions and reducing 27 holdings. Its most notable exit was Fifth Third Bancorp, an estimated $12.4M position sold in full.
By sector, the portfolio is most concentrated in Energy at 30% of assets, up from 25% a quarter earlier, followed by Financials and Industrials.
Against the trend, Elm Ridge Management opened a new position in Devon Energy worth $11.5M.
- Elm Ridge Management's largest Q2 2016 buy was Devon Energy: 317,809 shares worth $11.5M.
- Elm Ridge Management added most to California Resources Corporation in Q2 2016, an estimated $27K increase.
- Elm Ridge Management's biggest Q2 2016 reduction was Patterson-UTI, cutting an estimated $13.7M.
- Elm Ridge Management fully exited Fifth Third Bancorp in Q2 2016, selling an estimated $12.4M.
- Elm Ridge Management's ten largest holdings make up 61% of its $415M portfolio in Q2 2016.
- Elm Ridge Management opened 3 new positions and closed 5 in Q2 2016.
- Elm Ridge Management's portfolio value fell 27% quarter-over-quarter to $415M.
Based on Elm Ridge Management's 13F filing for Q2 2016, filed 15 Aug 2016.