ELM RIDGE MANAGEMENT, LLC Information

3 WEST MAIN STREET, IRVINGTON, New York, 10533, (914) 250-1000

Report Date: 03/31/2013

Position Statistics:

Total Positions 45
New Positions 9
Increased Positions 15
Decreased Positions 29
Positions with Activity 44
Sold Out Positions 5
Total Mkt Value
(in $ millions)
979

Sector Weighting

Basic Materials 2.74%
Capital Goods 7.56%
Conglomerates
Consumer Cyclical 5.24%
Consumer/Non-Cyclical
Energy 8.75%
Financial 31.86%
Healthcare 11.54%
Services 16.18%
Technology 16.13%
Transportation
Utilities

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

45 Positions as of 03/31/2013

Company Class Value of Shares ($1,000s) Change in Value ($1,000s) Change (%) Shares Held
MBIA INC COM 60,509 285 .47 3,941,977
LOCKHEED MARTIN CORP COM 46,569 12,772 37.79 437,636
ASSURED GUARANTY LTD COM 46,019 -22,442 (32.78) 1,921,452
BOSTON SCIENTIFIC CORP COM 44,154 -6,731 (13.23) 4,852,041
DONNELLEY R R & SONS CO COM 40,524 -3,803 (8.58) 3,185,815
AMERICAN INTL GROUP INC COM NEW 39,836 -17,262 (30.23) 880,743
CORNING INC COM 37,969 -2,610 (6.43) 2,352,459
MERCK & CO INC NEW COM 37,171 -5,398 (12.68) 808,240
APPLIED MATLS INC COM 34,751 215 .62 2,322,907
SAFEWAY INC COM NEW 33,342 -6,461 (16.23) 1,325,728
BANK OF AMERICA CORPORATION COM 33,293 -7,591 (18.57) 2,478,990
QUAD / GRAPHICS INC COM CL A 32,649 -2,509 (7.14) 1,445,931
AETNA INC NEW COM 30,721 -8,106 (20.88) 511,674
WELLPOINT INC COM 30,120 3,034 11.20 387,094
DELL INC COM 29,937 -3,706 (11.02) 2,234,141
LILLY ELI & CO COM 28,481 -24,612 (46.36) 509,502
REGIONS FINL CORP NEW COM 27,644 -15,403 (35.78) 3,054,564
ALCOA INC COM 26,801 -4,817 (15.24) 3,112,750
FLEXTRONICS INTL LTD ORD 25,643 -2,632 (9.31) 3,474,650
KOHLS CORP COM 25,149 25,149 New 487,564