ELM RIDGE MANAGEMENT, LLC Information

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

Report Date: 12/31/2014

Position Statistics

Total Positions 35
New Positions 5
Increased Positions 12
Decreased Positions 23
Positions with Activity 35
Sold Out Positions 5
Total Mkt Value (in $ millions) 745

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

Sector Weighting

Basic Materials 6.31%
Capital Goods 1.94%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical 3.15%
Energy 20.41%
Financial 25.19%
Healthcare 10.66%
Services 27.41%
Technology 4.93%
Transportation
Utilities

35 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
MBIA INC COM 48,147 -287 (0.59) 5,349,669
DONNELLEY R R & SONS CO COM 47,292 -3,616 (7.1) 2,479,910
ASSURED GUARANTY LTD COM 43,641 -13,820 (24.05) 1,645,603
AMERICAN INTL GROUP INC COM NEW 34,094 -3,527 (9.37) 616,196
APACHE CORP COM 32,815 14,606 80.21 498,403
ROYAL DUTCH SHELL PLC SPONS ADR A 27,695 27,695 New 423,659
BOSTON SCIENTIFIC CORP COM 27,058 -12,755 (32.04) 1,601,054
CARNIVAL CORP PAIRED CTF 26,656 8,337 45.51 605,945
LILLY ELI & CO COM 26,628 -14,556 (35.34) 379,479
DENBURY RES INC COM NEW 25,755 25,755 New 3,066,074
MERCK & CO INC NEW COM 25,716 2,511 10.82 439,292
ALCOA INC COM 25,207 -9,256 (26.86) 1,704,360
MURPHY OIL CORP COM 24,965 24,965 New 490,567
NEWFIELD EXPL CO COM 24,747 9,962 67.38 749,216
ASCENA RETAIL GROUP INC COM 24,281 -1,727 (6.64) 1,811,983
GOLDMAN SACHS GROUP INC COM 23,959 -2,478 (9.37) 126,240
DEAN FOODS CO NEW COM NEW 23,484 2,642 12.68 1,456,831
CITIGROUP INC COM NEW 22,513 -2,329 (9.37) 429,474
DOMTAR CORP COM NEW 21,783 -2,253 (9.37) 481,915
RENT A CTR INC NEW COM 21,381 1,067 5.25 774,684