# Elm Ridge Management, LLC

> Institutional holdings reported to the SEC as of Q1 2024 on Form 13F. CIK 1483276. Source: https://holderbook.com/funds/1483276-elm-ridge-management-llc/

- Reported value: $88.8M
- Positions: 27
- Weight of the ten largest: 54.6%
- Filed: 2024-05-15

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AERCAP HOLDINGS NV | [AER](https://holderbook.com/stocks/AER/) | $6.3M | 71,954 | 7.0% | 22 |
| SYLVAMO CORP | [SLVM](https://holderbook.com/stocks/SLVM/) | $5.8M | 94,562 | 6.6% | 10 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $5.8M | 91,925 | 6.5% | 22 |
| ONEMAIN HLDGS INC | [OMF](https://holderbook.com/stocks/OMF/) | $5.6M | 109,776 | 6.3% | 6 |
| LYONDELLBASELL INDUSTRIES NV | [LYB](https://holderbook.com/stocks/LYB/) | $5.3M | 52,300 | 6.0% | 21 |
| ARCELORMITTAL SA LUXEMBOURG | [MT](https://holderbook.com/stocks/MT/) | $4.3M | 156,189 | 4.9% | 15 |
| MAGNOLIA OIL & GAS CORP | [MGY](https://holderbook.com/stocks/MGY/) | $4.0M | 152,503 | 4.5% | 12 |
| ALCOA CORP | [AA](https://holderbook.com/stocks/AA/) | $3.9M | 115,022 | 4.4% | 22 |
| ARCBEST CORP | [ARCB](https://holderbook.com/stocks/ARCB/) | $3.8M | 26,403 | 4.2% | 3 |
| ANTERO RESOURCES CORP | [AR](https://holderbook.com/stocks/AR/) | $3.7M | 127,517 | 4.2% | 10 |
| SYNCHRONY FINANCIAL | [SYF](https://holderbook.com/stocks/SYF/) | $3.5M | 80,398 | 3.9% | 3 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $3.3M | 90,188 | 3.8% | 16 |
| VALARIS LTD | [VAL](https://holderbook.com/stocks/VAL/) | $3.3M | 43,464 | 3.7% | 9 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $3.3M | 65,065 | 3.7% | 12 |
| APA CORPORATION | [APA](https://holderbook.com/stocks/APA/) | $3.2M | 92,104 | 3.6% | 7 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $3.2M | 41,326 | 3.6% | 20 |
| NOV INC | [NOV](https://holderbook.com/stocks/NOV/) | $3.1M | 160,402 | 3.5% | 13 |
| LEAR CORP | [LEA](https://holderbook.com/stocks/LEA/) | $3.0M | 20,713 | 3.4% | 22 |
| ADIENT PLC | [ADNT](https://holderbook.com/stocks/ADNT/) | $2.8M | 83,969 | 3.1% | 22 |
| CHEMOURS CO | [CC](https://holderbook.com/stocks/CC/) | $2.7M | 102,641 | 3.0% | 20 |
| NABORS INDUSTRIES LTD | [NBR](https://holderbook.com/stocks/NBR/) | $2.6M | 30,374 | 2.9% | 16 |
| RANGE RES CORP | [RRC](https://holderbook.com/stocks/RRC/) | $2.5M | 73,283 | 2.8% | 22 |
| DANA INC | [DAN](https://holderbook.com/stocks/DAN/) | $2.4M | 192,099 | 2.7% | 15 |
| NEWELL BRANDS INC | [NWL](https://holderbook.com/stocks/NWL/) | $1.1M | 142,897 | 1.3% | 3 |
| NETGEAR INC | [NTGR](https://holderbook.com/stocks/NTGR/) | $259.9K | 16,480 | 0.3% | 1 |
| HAMILTON LANE INC | [HLNE](https://holderbook.com/stocks/HLNE/) | $58.0K | 0 | 0.1% | 1 |
| ISHARES TR | [SOXX](https://holderbook.com/stocks/SOXX/) | $18.9K | 0 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2024 | +7.7% | +10.0% | -2.4% | 100% |
| Q4 2023 | +3.5% | +11.2% | -7.7% | 100% |
| Q3 2023 | +3.3% | -3.6% | +6.9% | 100% |
| Q2 2023 | -0.4% | +8.3% | -8.7% | 100% |
| Q1 2023 | -4.2% | +7.0% | -11.3% | 100% |
| Q4 2022 | +17.8% | +7.1% | +10.7% | 100% |
| Q3 2022 | -2.6% | -5.3% | +2.7% | 100% |
| Q2 2022 | -16.5% | -16.5% | -0.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2024 | $88.8M | 27 |
| Q4 2023 | $90.2M | 25 |
| Q3 2023 | $82.8M | 25 |
| Q2 2023 | $82.0M | 23 |
| Q1 2023 | $96.0M | 24 |
| Q4 2022 | $105.2M | 27 |
| Q3 2022 | $83.3M | 26 |
| Q2 2022 | $91.2M | 29 |
| Q1 2022 | $96.0M | 28 |
| Q4 2021 | $78.6M | 28 |
| Q3 2021 | $72.7M | 27 |
| Q2 2021 | $69.7M | 31 |