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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
+9.43%
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
$424M
AUM Growth
+$8.77M
(+2.1%)
Cap. Flow
-$23.5M
Cap. Flow
% of AUM
-5.54%
Top 10 Holdings %
Top 10 Hldgs %
60.2%
Holding
34
New
2
Increased
7
Reduced
21
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HTZ
Hertz Global Holdings, Inc.
HTZ
|
+$10.6M |
| 2 |
CRC
California Resources Corporation
CRC
|
+$1.5M |
| 3 |
Micron Technology
MU
|
+$1.44M |
| 4 |
Range Resources
RRC
|
+$1.05M |
| 5 |
Murphy Oil
MUR
|
+$775K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DNY
DONNELLEY R R & SONS CO
DNY
|
+$10.3M |
| 2 |
Herc Holdings
HRI
|
+$10.1M |
| 3 |
CBI
Chicago Bridge & Iron Nv
CBI
|
+$8.21M |
| 4 |
Quad
QUAD
|
+$7.81M |
| 5 |
APA Corp
APA
|
+$2.27M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 30.15% |
| 2 | Financials | 23.96% |
| 3 | Industrials | 5.27% |
| 4 | Technology | 4.43% |
| 5 | Materials | 1.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $96.2M | 22.68% |
774,200
+23,600
| +3% | +$2.87M |
|
2
MBIA
MBI
$288M
| $25.9M | 6.1% |
3,321,971
-172,755
| -5% | -$1.36M |
|
|
3
APA Corp
APA
$12.8B
| $21.9M | 5.15% |
342,115
-41,601
| -11% | -$2.27M |
|
4
Assured Guaranty
AGO
$3.78B
| $19.9M | 4.7% |
718,491
-61,787
| -8% | -$1.67M |
|
5
Patterson-UTI
PTEN
$3.87B
| $19M | 4.47% |
847,322
+35,356
| +4% | +$710K |
|
|
6
Murphy Oil
MUR
$5.58B
| $17.6M | 4.15% |
579,568
+27,195
| +5% | +$775K |
|
|
7
CALL
APA Corp
APA
$12.8B
| $14.9M | 3.51% |
+233,200
| New | +$12.7M |
|
|
8
Quad
QUAD
$430M
| $13.5M | 3.19% |
506,062
-294,366
| -37% | -$7.81M |
|
9
Devon Energy
DVN
$51.9B
| $13.3M | 3.14% |
302,156
-15,653
| -5% | -$635K |
|
10
Citigroup
C
$222B
| $13.1M | 3.1% |
278,251
-14,286
| -5% | -$650K |
|
|
DNY
11
DELISTED
DONNELLEY R R & SONS CO
DNY
| $13.1M | 3.09% |
834,816
-655,990
| -44% | -$10.3M |
|
12
Popular Inc
BPOP
$11B
| $12M | 2.83% |
314,053
-16,127
| -5% | -$574K |
|
13
Bank of America
BAC
$435B
| $11.8M | 2.79% |
756,135
-38,821
| -5% | -$578K |
|
14
American International
AIG
$41.9B
| $11.8M | 2.78% |
198,352
-10,183
| -5% | -$582K |
|
|
SWN
15
DELISTED
Southwestern Energy Company
SWN
| $10.8M | 2.55% |
781,417
-40,126
| -5% | -$556K |
|
|
DNR
16
DELISTED
Denbury Resources, Inc.
DNR
| $10.3M | 2.44% |
3,199,391
-164,291
| -5% | -$503K |
|
|
17
Range Resources
RRC
$9.11B
| $10.1M | 2.38% |
260,793
+26,018
| +11% | +$1.05M |
|
|
CRC
18
DELISTED
California Resources Corporation
CRC
| $9.36M | 2.21% |
749,041
+131,440
| +21% | +$1.5M |
|
|
QEP
19
DELISTED
QEP RESOURCES, INC.
QEP
| $9.35M | 2.2% |
478,808
-24,585
| -5% | -$453K |
|
20
Upbound Group
UPBD
$1.19B
| $8.93M | 2.11% |
706,406
+21,587
| +3% | +$270K |
|
|
HTZ
21
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $8.83M | 2.08% |
+253,180
| New | +$10.6M |
|
22
Nabors Industries
NBR
$1.23B
| $8.01M | 1.89% |
13,174
-677
| -5% | -$334K |
|
23
Helmerich & Payne
HP
$3.53B
| $7.5M | 1.77% |
111,426
-5,727
| -5% | -$359K |
|
24
Alcoa
AA
$11.7B
| $7.27M | 1.71% |
298,459
-15,328
| -5% | -$374K |
|
25
Navient
NAVI
$774M
| $7.04M | 1.66% |
486,710
-24,993
| -5% | -$348K |
|
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Elm Ridge Management's Q3 2016 Portfolio in Review
As of Q3 2016, Elm Ridge Management held 34 positions worth $424M, up 2.1% from $415M the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Elm Ridge Management withdrew a net $23.5M in Q3 2016, closing 4 positions and reducing 21 holdings. Its most notable exit was Herc Holdings, an estimated $10.1M position sold in full.
By sector, the portfolio is most concentrated in Energy at 30% of assets, up from 30% a quarter earlier, followed by Financials and Industrials.
Against the trend, Elm Ridge Management opened a new position in Hertz Global Holdings, Inc. worth $8.83M.
- Elm Ridge Management's largest Q3 2016 buy was Hertz Global Holdings, Inc.: 253,180 shares worth $8.83M.
- Elm Ridge Management added most to California Resources Corporation in Q3 2016, an estimated $1.5M increase.
- Elm Ridge Management's biggest Q3 2016 reduction was DONNELLEY R R & SONS CO, cutting an estimated $10.3M.
- Elm Ridge Management fully exited Herc Holdings in Q3 2016, selling an estimated $10.1M.
- Elm Ridge Management's ten largest holdings make up 60% of its $424M portfolio in Q3 2016.
- Elm Ridge Management opened 2 new positions and closed 4 in Q3 2016.
- Elm Ridge Management's portfolio value rose 2.1% quarter-over-quarter to $424M.
Based on Elm Ridge Management's 13F filing for Q3 2016, filed 14 Nov 2016.