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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
+0.4%
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
$82M
AUM Growth
-$13.9M
(-14%)
Cap. Flow
-$12.5M
Cap. Flow
% of AUM
-15.19%
Top 10 Holdings %
Top 10 Hldgs %
53.77%
Holding
24
New
–
Increased
3
Reduced
16
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nabors Industries
NBR
|
+$1.03M |
| 2 |
NOV
NOV
|
+$973K |
| 3 |
Sylvamo
SLVM
|
+$539K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NEX
NexTier Oilfield Solutions Inc.
NEX
|
+$2M |
| 2 |
Chemours
CC
|
+$1.89M |
| 3 |
Canadian Natural Resources
CNQ
|
+$1.73M |
| 4 |
Citigroup
C
|
+$1.47M |
| 5 |
AerCap
AER
|
+$1.43M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 44% |
| 2 | Materials | 25.16% |
| 3 | Consumer Discretionary | 11.54% |
| 4 | Financials | 10.78% |
| 5 | Industrials | 8.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
AerCap
AER
$23.9B
| $6.43M | 7.84% |
101,293
-24,708
| -20% | -$1.43M |
|
2
LyondellBasell Industries
LYB
$19.5B
| $4.8M | 5.85% |
52,300
-5,538
| -10% | -$506K |
|
3
ArcelorMittal
MT
$50.4B
| $4.75M | 5.79% |
173,802
-18,645
| -10% | -$512K |
|
4
OneMain Financial
OMF
$6.9B
| $4.7M | 5.73% |
107,587
-7,992
| -7% | -$312K |
|
|
5
Citigroup
C
$222B
| $4.15M | 5.05% |
90,035
-31,472
| -26% | -$1.47M |
|
6
Valaris
VAL
$5.51B
| $3.99M | 4.87% |
63,472
| – | – |
|
7
Devon Energy
DVN
$51.9B
| $3.9M | 4.76% |
80,765
-4,694
| -5% | -$236K |
|
|
8
Sylvamo
SLVM
$1.52B
| $3.9M | 4.75% |
96,418
+12,471
| +15% | +$539K |
|
|
9
Chemours
CC
$2.59B
| $3.79M | 4.62% |
102,641
-62,040
| -38% | -$1.89M |
|
10
Magnolia Oil & Gas
MGY
$5.83B
| $3.69M | 4.5% |
176,786
| – | – |
|
11
Adient
ADNT
$1.6B
| $3.57M | 4.36% |
93,284
| – | – |
|
12
APA Corp
APA
$12.8B
| $3.57M | 4.35% |
104,529
-5,673
| -5% | -$198K |
|
13
ConocoPhillips
COP
$147B
| $3.47M | 4.23% |
33,467
-4,972
| -13% | -$511K |
|
14
Lear
LEA
$7.19B
| $3.47M | 4.22% |
24,144
-3,078
| -11% | -$406K |
|
15
Alcoa
AA
$11.7B
| $3.4M | 4.14% |
100,137
-26,489
| -21% | -$962K |
|
|
16
NOV
NOV
$7.45B
| $3.39M | 4.14% |
211,529
+59,711
| +39% | +$973K |
|
17
EQT Corp
EQT
$33.2B
| $3.17M | 3.86% |
77,015
-15,848
| -17% | -$560K |
|
18
Range Resources
RRC
$9.11B
| $3.09M | 3.76% |
104,954
-20,276
| -16% | -$552K |
|
19
Antero Resources
AR
$10.9B
| $2.92M | 3.55% |
126,622
| – | – |
|
|
20
Canadian Natural Resources
CNQ
$96.9B
| $2.5M | 3.05% |
88,868
-60,516
| -41% | -$1.73M |
|
21
Dana Inc
DAN
$2.91B
| $2.42M | 2.96% |
142,617
-96,421
| -40% | -$1.41M |
|
|
22
Nabors Industries
NBR
$1.23B
| $2.4M | 2.93% |
25,821
+10,140
| +65% | +$1.03M |
|
|
YELL
23
DELISTED
Yellow Corporation Common Stock
YELL
| $561K | 0.68% |
814,836
-207,900
| -20% | -$325K |
|
|
NEX
24
DELISTED
NexTier Oilfield Solutions Inc.
NEX
| – | – |
-251,087
| Closed | -$2M |
|
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Elm Ridge Management's Q2 2023 Portfolio in Review
As of Q2 2023, Elm Ridge Management held 24 positions worth $82M, down 14% from $96M the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Elm Ridge Management withdrew a net $12.5M in Q2 2023, closing 1 position and reducing 16 holdings. Its most notable exit was NexTier Oilfield Solutions Inc., an estimated $2M position sold in full.
By sector, the portfolio is most concentrated in Energy at 44% of assets, up from 42% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Elm Ridge Management added an estimated $1.03M to Nabors Industries.
- Elm Ridge Management added most to Nabors Industries in Q2 2023, an estimated $1.03M increase.
- Elm Ridge Management's biggest Q2 2023 reduction was Chemours, cutting an estimated $1.89M.
- Elm Ridge Management fully exited NexTier Oilfield Solutions Inc. in Q2 2023, selling an estimated $2M.
- Elm Ridge Management's ten largest holdings make up 54% of its $82M portfolio in Q2 2023.
- Elm Ridge Management opened 0 new positions and closed 1 in Q2 2023.
- Elm Ridge Management's portfolio value fell 14% quarter-over-quarter to $82M.
Based on Elm Ridge Management's 13F filing for Q2 2023, filed 14 Aug 2023.