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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
-46.09%
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
$28.3M
AUM Growth
-$83M
(-75%)
Cap. Flow
-$43.9M
Cap. Flow
% of AUM
-155.42%
Top 10 Holdings %
Top 10 Hldgs %
74.96%
Holding
30
New
3
Increased
2
Reduced
18
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AerCap
AER
|
+$2.55M |
| 2 |
FedEx
FDX
|
+$2.34M |
| 3 |
Dell
DELL
|
+$1.01M |
| 4 |
Viatris
VTRS
|
+$603K |
| 5 |
Nabors Industries
NBR
|
+$136K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HTZ
Hertz Global Holdings, Inc.
HTZ
|
+$4.74M |
| 2 |
Patterson-UTI
PTEN
|
+$4.65M |
| 3 |
Devon Energy
DVN
|
+$4.14M |
| 4 |
CRC
California Resources Corporation
CRC
|
+$3.6M |
| 5 |
Assured Guaranty
AGO
|
+$3.56M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 29.91% |
| 2 | Financials | 23.26% |
| 3 | Energy | 22.62% |
| 4 | Materials | 9.63% |
| 5 | Consumer Discretionary | 8.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
United Rentals
URI
$71.1B
| $3.02M | 10.68% |
29,334
-17,017
| -37% | -$2.26M |
|
|
2
AerCap
AER
$23.9B
| $2.88M | 10.19% |
126,411
+51,722
| +69% | +$2.55M |
|
3
Canadian Natural Resources
CNQ
$96.9B
| $2.81M | 9.93% |
422,974
-171,401
| -29% | -$2.04M |
|
4
MBIA
MBI
$288M
| $2.08M | 7.34% |
290,680
-380,003
| -57% | -$3.21M |
|
5
ConocoPhillips
COP
$147B
| $2.06M | 7.29% |
66,938
-38,032
| -36% | -$1.93M |
|
|
6
FedEx
FDX
$74.5B
| $2.02M | 7.15% |
+16,656
| New | +$2.34M |
|
7
Popular Inc
BPOP
$11B
| $1.69M | 5.99% |
48,352
-34,073
| -41% | -$1.69M |
|
|
8
Assured Guaranty
AGO
$3.78B
| $1.62M | 5.74% |
62,882
-86,042
| -58% | -$3.56M |
|
9
LyondellBasell Industries
LYB
$19.5B
| $1.57M | 5.55% |
31,609
-19,542
| -38% | -$1.44M |
|
10
Lear
LEA
$7.19B
| $1.44M | 5.11% |
17,772
-7,165
| -29% | -$825K |
|
11
Citigroup
C
$222B
| $1.19M | 4.2% |
28,158
-18,481
| -40% | -$1.24M |
|
|
12
Dell
DELL
$283B
| $876K | 3.1% |
+43,700
| New | +$1.01M |
|
13
Magna International
MGA
$17.9B
| $685K | 2.42% |
21,470
-10,629
| -33% | -$490K |
|
14
Alcoa
AA
$11.7B
| $634K | 2.24% |
102,844
-94,184
| -48% | -$1.29M |
|
|
YELL
15
DELISTED
Yellow Corporation Common Stock
YELL
| $536K | 1.9% |
318,837
-121,329
| -28% | -$265K |
|
16
Chemours
CC
$2.59B
| $519K | 1.84% |
58,498
-53,572
| -48% | -$772K |
|
17
Kosmos Energy
KOS
$1.56B
| $508K | 1.8% |
567,263
-311,462
| -35% | -$1.24M |
|
|
18
Viatris
VTRS
$20.1B
| $470K | 1.66% |
+31,495
| New | +$603K |
|
|
19
Nabors Industries
NBR
$1.23B
| $408K | 1.44% |
20,932
+1,485
| +8% | +$136K |
|
20
Adient
ADNT
$1.6B
| $403K | 1.43% |
44,445
-44,959
| -50% | -$906K |
|
21
Range Resources
RRC
$9.11B
| $330K | 1.17% |
144,858
-132,661
| -48% | -$423K |
|
|
CRC
22
DELISTED
California Resources Corporation
CRC
| $280K | 0.99% |
280,284
-581,976
| -67% | -$3.6M |
|
|
HMHC
23
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $243K | 0.86% |
129,092
-118,222
| -48% | -$602K |
|
24
APA Corp
APA
$12.8B
| – | – |
-105,881
| Closed | -$2.71M |
|
25
Brighthouse Financial
BHF
$3.63B
| – | – |
-81,799
| Closed | -$3.21M |
|
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Elm Ridge Management's Q1 2020 Portfolio in Review
As of Q1 2020, Elm Ridge Management held 30 positions worth $28.3M, down 75% from $111M the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Elm Ridge Management withdrew a net $43.9M in Q1 2020, closing 7 positions and reducing 18 holdings. Its most notable exit was Hertz Global Holdings, Inc., an estimated $4.74M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 30% of assets, up from 17% a quarter earlier, followed by Financials and Energy.
Against the trend, Elm Ridge Management opened a new position in FedEx worth $2.02M.
- Elm Ridge Management's largest Q1 2020 buy was FedEx: 16,656 shares worth $2.02M.
- Elm Ridge Management added most to AerCap in Q1 2020, an estimated $2.55M increase.
- Elm Ridge Management's biggest Q1 2020 reduction was California Resources Corporation, cutting an estimated $3.6M.
- Elm Ridge Management fully exited Hertz Global Holdings, Inc. in Q1 2020, selling an estimated $4.74M.
- Elm Ridge Management's ten largest holdings make up 75% of its $28.3M portfolio in Q1 2020.
- Elm Ridge Management opened 3 new positions and closed 7 in Q1 2020.
- Elm Ridge Management's portfolio value fell 75% quarter-over-quarter to $28.3M.
Based on Elm Ridge Management's 13F filing for Q1 2020, filed 15 May 2020.