ELM RIDGE MANAGEMENT, LLC Information

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

Report Date: 03/31/2015

Position Statistics

Total Positions 32
New Positions 2
Increased Positions 8
Decreased Positions 24
Positions with Activity 32
Sold Out Positions 4
Total Mkt Value (in $ millions) 639

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

Sector Weighting

Basic Materials 3.12%
Capital Goods 3.22%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical 4.03%
Energy 21.64%
Financial 28.16%
Healthcare 8%
Services 25.88%
Technology 5.94%
Transportation
Utilities

24 DECREASED Positions as of 03/31/2015

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
ASSURED GUARANTY LTD COM 44,337 -2,876 (6.09) 1,545,376
DONNELLEY R R & SONS CO COM 43,990 -3,352 (7.08) 2,304,325
MBIA INC COM 38,644 -9,878 (20.36) 4,260,631
AMERICAN INTL GROUP INC COM NEW 29,018 -7,880 (21.36) 484,606
CARNIVAL CORP PAIRED CTF 27,020 -1,672 (5.83) 570,635
LILLY ELI & CO COM 26,561 -1,635 (5.8) 357,478
DEAN FOODS CO NEW COM NEW 25,768 -1,606 (5.87) 1,371,386
ASCENA RETAIL GROUP INC COM 25,723 -1,602 (5.86) 1,705,766
GOLDMAN SACHS GROUP INC COM 24,688 -1,545 (5.89) 118,806
MERCK & CO INC NEW COM 24,562 -1,523 (5.84) 413,645
JABIL CIRCUIT INC COM 22,503 -1,408 (5.89) 915,877
CITIGROUP INC COM NEW 22,218 -1,390 (5.89) 404,182
ALCOA INC COM 19,898 -2,156 (9.78) 1,537,725
TERADYNE INC COM 15,446 -967 (5.89) 745,843
QUAD / GRAPHICS INC COM CL A 14,716 -2,065 (12.31) 699,440
POPULAR INC COM NEW 13,779 -863 (5.89) 416,419
ULTRA PETROLEUM CORP COM 13,581 -853 (5.91) 928,280
SUPERVALU INC COM 10,764 -7,695 (41.69) 1,208,120
ABERCROMBIE & FITCH CO CL A 9,219 -572 (5.84) 442,790
AEROPOSTALE COM 7,013 -439 (5.89) 3,202,283