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) 750

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

Sector Weighting

Basic Materials 6.25%
Capital Goods 1.95%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical 3.17%
Energy 21.07%
Financial 24.88%
Healthcare 10.6%
Services 27.12%
Technology 4.96%
Transportation
Utilities

12 INCREASED Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
APACHE CORP COM 33,807 15,047 80.21 498,403
ROYAL DUTCH SHELL PLC SPONS ADR A 27,945 27,945 New 423,659
DENBURY RES INC COM NEW 27,411 27,411 New 3,066,074
NEWFIELD EXPL CO COM 26,972 10,858 67.38 749,216
CARNIVAL CORP PAIRED CTF 26,595 8,318 45.51 605,945
MERCK & CO INC NEW COM 25,694 2,509 10.82 439,292
MURPHY OIL CORP COM 25,338 25,338 New 490,567
DEAN FOODS CO NEW COM NEW 23,761 2,673 12.68 1,456,831
RENT A CTR INC NEW COM 21,629 1,080 5.25 774,684
ULTRA PETROLEUM CORP COM 16,525 8,316 101.31 986,596
TEREX CORP NEW COM 14,660 14,660 New 528,274
ABERCROMBIE & FITCH CO CL A 11,690 11,690 New 470,253