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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
+22.28%
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
$134M
AUM Growth
-$34.5M
(-20%)
Cap. Flow
-$64.5M
Cap. Flow
% of AUM
-47.94%
Top 10 Holdings %
Top 10 Hldgs %
59.19%
Holding
35
New
3
Increased
4
Reduced
23
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
BRY
Berry Corp
BRY
|
+$3.23M |
| 2 |
LyondellBasell Industries
LYB
|
+$2.91M |
| 3 |
GameStop
GME
|
+$1.61M |
| 4 |
Lear
LEA
|
+$771K |
| 5 |
Century Aluminum
CENX
|
+$457K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CRC
California Resources Corporation
CRC
|
+$11.4M |
| 2 |
ConocoPhillips
COP
|
+$7.72M |
| 3 |
Assured Guaranty
AGO
|
+$5.96M |
| 4 |
MBIA
MBI
|
+$4.83M |
| 5 |
Flex
FLEX
|
+$4.33M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 43.04% |
| 2 | Financials | 22.17% |
| 3 | Industrials | 13.82% |
| 4 | Materials | 7.46% |
| 5 | Consumer Discretionary | 6.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CRC
1
DELISTED
California Resources Corporation
CRC
| $12.8M | 9.52% |
498,023
-525,798
| -51% | -$11.4M |
|
|
2
Assured Guaranty
AGO
$3.78B
| $9.41M | 7% |
211,877
-143,111
| -40% | -$5.96M |
|
3
Devon Energy
DVN
$51.9B
| $8.98M | 6.68% |
284,479
-91,837
| -24% | -$2.57M |
|
4
United Rentals
URI
$71.1B
| $8.94M | 6.64% |
78,209
-12,168
| -13% | -$1.5M |
|
|
APC
5
DELISTED
Anadarko Petroleum
APC
| $8.4M | 6.25% |
184,784
+6,534
| +4% | +$296K |
|
6
APA Corp
APA
$12.8B
| $7.88M | 5.86% |
227,274
-73,370
| -24% | -$2.39M |
|
7
Patterson-UTI
PTEN
$3.87B
| $6.39M | 4.75% |
455,675
-142,411
| -24% | -$1.87M |
|
|
DNR
8
DELISTED
Denbury Resources, Inc.
DNR
| $5.68M | 4.22% |
2,769,809
-1,971,714
| -42% | -$3.93M |
|
9
Magnolia Oil & Gas
MGY
$5.83B
| $5.56M | 4.13% |
463,255
-94,852
| -17% | -$1.16M |
|
|
10
MBIA
MBI
$288M
| $5.56M | 4.13% |
583,702
-491,836
| -46% | -$4.83M |
|
11
Alcoa
AA
$11.7B
| $5.51M | 4.1% |
195,617
-37,678
| -16% | -$1.08M |
|
12
Brighthouse Financial
BHF
$3.63B
| $4.93M | 3.66% |
135,780
-43,833
| -24% | -$1.64M |
|
13
Citigroup
C
$222B
| $4.29M | 3.19% |
69,008
-22,278
| -24% | -$1.38M |
|
14
Popular Inc
BPOP
$11B
| $4.07M | 3.03% |
78,159
-33,104
| -30% | -$1.76M |
|
|
HTZ
15
DELISTED
Hertz Global Holdings, Inc.
HTZ
| $3.62M | 2.69% |
239,545
-189,823
| -44% | -$2.76M |
|
16
AerCap
AER
$23.9B
| $3.55M | 2.64% |
76,219
-52,981
| -41% | -$2.39M |
|
|
BRY
17
DELISTED
Berry Corp
BRY
| $3.28M | 2.44% |
+284,346
| New | +$3.23M |
|
18
Range Resources
RRC
$9.11B
| $3.18M | 2.37% |
283,200
+15,720
| +6% | +$171K |
|
19
Magna International
MGA
$17.9B
| $3.15M | 2.34% |
64,761
-20,907
| -24% | -$1.05M |
|
|
20
LyondellBasell Industries
LYB
$19.5B
| $2.84M | 2.11% |
+33,724
| New | +$2.91M |
|
|
21
Lear
LEA
$7.19B
| $2.67M | 1.98% |
19,666
+5,262
| +37% | +$771K |
|
22
Nabors Industries
NBR
$1.23B
| $2.57M | 1.91% |
14,925
-4,818
| -24% | -$750K |
|
|
23
Century Aluminum
CENX
$4.57B
| $1.68M | 1.25% |
189,428
+52,818
| +39% | +$457K |
|
24
Adient
ADNT
$1.6B
| $1.57M | 1.17% |
121,223
-39,134
| -24% | -$685K |
|
|
FTSI
25
DELISTED
FTS International, Inc. Common Stock
FTSI
| $1.56M | 1.16% |
7,820
-8,548
| -52% | -$1.53M |
|
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Elm Ridge Management's Q1 2019 Portfolio in Review
As of Q1 2019, Elm Ridge Management held 35 positions worth $134M, down 20% from $169M the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Elm Ridge Management withdrew a net $64.5M in Q1 2019, closing 5 positions and reducing 23 holdings. Its most notable exit was ConocoPhillips, an estimated $7.72M position sold in full.
By sector, the portfolio is most concentrated in Energy at 43% of assets, up from 42% a quarter earlier, followed by Financials and Industrials.
Against the trend, Elm Ridge Management opened a new position in Berry Corp worth $3.28M.
- Elm Ridge Management's largest Q1 2019 buy was Berry Corp: 284,346 shares worth $3.28M.
- Elm Ridge Management added most to Lear in Q1 2019, an estimated $771K increase.
- Elm Ridge Management's biggest Q1 2019 reduction was California Resources Corporation, cutting an estimated $11.4M.
- Elm Ridge Management fully exited ConocoPhillips in Q1 2019, selling an estimated $7.72M.
- Elm Ridge Management's ten largest holdings make up 59% of its $134M portfolio in Q1 2019.
- Elm Ridge Management opened 3 new positions and closed 5 in Q1 2019.
- Elm Ridge Management's portfolio value fell 20% quarter-over-quarter to $134M.
Based on Elm Ridge Management's 13F filing for Q1 2019, filed 15 May 2019.