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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
-10.25%
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
$405M
AUM Growth
-$60.8M
(-13%)
Cap. Flow
-$17.1M
Cap. Flow
% of AUM
-4.22%
Top 10 Holdings %
Top 10 Hldgs %
55.82%
Holding
38
New
6
Increased
12
Reduced
16
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ConocoPhillips
COP
|
+$5.86M |
| 2 |
REN
Resolute Energy Corporaton
REN
|
+$5.5M |
| 3 |
RRD
RR Donnelley & Sons Co.
RRD
|
+$4.9M |
| 4 |
DNR
Denbury Resources, Inc.
DNR
|
+$3.58M |
| 5 |
Upbound Group
UPBD
|
+$1.79M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Assured Guaranty
AGO
|
+$6.09M |
| 2 |
Navient
NAVI
|
+$5.58M |
| 3 |
Donnelley Financial Solutions
DFIN
|
+$5.37M |
| 4 |
Patterson-UTI
PTEN
|
+$4.1M |
| 5 |
Murphy Oil
MUR
|
+$3.94M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 31.65% |
| 2 | Financials | 23.48% |
| 3 | Industrials | 7.55% |
| 4 | Technology | 4.37% |
| 5 | Materials | 3.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $78.4M | 19.33% |
570,000
-165,000
| -22% | -$22.5M |
|
2
MBIA
MBI
$288M
| $27.2M | 6.72% |
3,216,738
-105,233
| -3% | -$1.06M |
|
|
3
Assured Guaranty
AGO
$3.78B
| $21M | 5.17% |
564,990
-153,501
| -21% | -$6.09M |
|
4
APA Corp
APA
$12.8B
| $18.1M | 4.47% |
352,385
+10,270
| +3% | +$577K |
|
|
5
CALL
APA Corp
APA
$12.8B
| $14.6M | 3.59% |
283,200
+50,000
| +21% | +$2.81M |
|
|
CRC
6
DELISTED
California Resources Corporation
CRC
| $14.4M | 3.56% |
959,358
-7,483
| -0.8% | -$137K |
|
7
Devon Energy
DVN
$51.9B
| $13.5M | 3.33% |
323,275
+21,119
| +7% | +$929K |
|
8
American International
AIG
$41.9B
| $13.4M | 3.31% |
214,608
+16,256
| +8% | +$1.04M |
|
|
9
ConocoPhillips
COP
$147B
| $13.1M | 3.22% |
262,115
+121,315
| +86% | +$5.86M |
|
|
10
Murphy Oil
MUR
$5.58B
| $12.7M | 3.12% |
442,866
-136,702
| -24% | -$3.94M |
|
11
Citigroup
C
$222B
| $12.5M | 3.09% |
209,455
-11,096
| -5% | -$656K |
|
12
Alcoa
AA
$11.7B
| $12.4M | 3.06% |
360,447
+25,970
| +8% | +$909K |
|
13
Bank of America
BAC
$435B
| $11.8M | 2.92% |
502,228
-95,007
| -16% | -$2.25M |
|
|
14
Patterson-UTI
PTEN
$3.87B
| $11.8M | 2.91% |
485,349
-152,173
| -24% | -$4.1M |
|
|
RRD
15
DELISTED
RR Donnelley & Sons Co.
RRD
| $11.7M | 2.88% |
962,913
+306,877
| +47% | +$4.9M |
|
16
Micron Technology
MU
$1.04T
| $9.55M | 2.36% |
330,483
-17,510
| -5% | -$428K |
|
17
Nabors Industries
NBR
$1.23B
| $9.49M | 2.34% |
14,524
+1,350
| +10% | +$1.03M |
|
18
Popular Inc
BPOP
$11B
| $9.2M | 2.27% |
225,886
-11,967
| -5% | -$516K |
|
|
DNR
19
DELISTED
Denbury Resources, Inc.
DNR
| $9.2M | 2.27% |
3,564,786
+1,157,395
| +48% | +$3.58M |
|
20
Range Resources
RRC
$9.11B
| $8.41M | 2.07% |
288,989
-15,311
| -5% | -$473K |
|
|
21
Upbound Group
UPBD
$1.19B
| $8.16M | 2.01% |
919,561
+196,789
| +27% | +$1.79M |
|
|
QEP
22
DELISTED
QEP RESOURCES, INC.
QEP
| $8M | 1.97% |
629,722
+66,414
| +12% | +$1.05M |
|
|
LKSD
23
DELISTED
LSC Communications, Inc.
LKSD
| $7.3M | 1.8% |
290,019
-145,281
| -33% | -$3.8M |
|
|
SWN
24
DELISTED
Southwestern Energy Company
SWN
| $6.72M | 1.66% |
822,808
-43,592
| -5% | -$377K |
|
25
Quad
QUAD
$430M
| $6.03M | 1.49% |
238,921
-73,179
| -23% | -$1.88M |
|
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Elm Ridge Management's Q1 2017 Portfolio in Review
As of Q1 2017, Elm Ridge Management held 38 positions worth $405M, down 13% from $466M the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Elm Ridge Management withdrew a net $17.1M in Q1 2017, closing 4 positions and reducing 16 holdings. Its most notable exit was Navient, an estimated $5.58M position sold in full.
By sector, the portfolio is most concentrated in Energy at 32% of assets, up from 31% a quarter earlier, followed by Financials and Industrials.
Against the trend, Elm Ridge Management opened a new position in Resolute Energy Corporaton worth $5.16M.
- Elm Ridge Management's largest Q1 2017 buy was Resolute Energy Corporaton: 127,734 shares worth $5.16M.
- Elm Ridge Management added most to ConocoPhillips in Q1 2017, an estimated $5.86M increase.
- Elm Ridge Management's biggest Q1 2017 reduction was Assured Guaranty, cutting an estimated $6.09M.
- Elm Ridge Management fully exited Navient in Q1 2017, selling an estimated $5.58M.
- Elm Ridge Management's ten largest holdings make up 56% of its $405M portfolio in Q1 2017.
- Elm Ridge Management opened 6 new positions and closed 4 in Q1 2017.
- Elm Ridge Management's portfolio value fell 13% quarter-over-quarter to $405M.
Based on Elm Ridge Management's 13F filing for Q1 2017, filed 15 May 2017.