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) 727

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

Sector Weighting

Basic Materials 6.04%
Capital Goods 1.89%
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical 3.21%
Energy 19.45%
Financial 24.91%
Healthcare 11.25%
Services 28.13%
Technology 5.11%
Transportation
Utilities

35 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) Change in Value ($1,000s) Change (%) ▲ Shares Held
ANTHEM INC COM -40,831 Sold Out 0
CORNING INC COM -17,269 Sold Out 0
LOCKHEED MARTIN CORP COM -41,962 Sold Out 0
ON SEMICONDUCTOR CORP COM -25,087 Sold Out 0
RESTORATION HARDWARE HLDGS INC COM -7,572 Sold Out 0
LILLY ELI & CO COM 27,922 -15,263 (35.34) 379,479
INTERPUBLIC GROUP COS INC COM 19,844 -10,059 (33.64) 899,547
BOSTON SCIENTIFIC CORP COM 28,547 -13,457 (32.04) 1,601,054
ALCOA INC COM 21,645 -7,948 (26.86) 1,704,360
ASSURED GUARANTY LTD COM 41,420 -13,116 (24.05) 1,645,603
AMERICAN INTL GROUP INC COM NEW 33,293 -3,444 (9.37) 616,196
CITIGROUP INC COM NEW 21,903 -2,266 (9.37) 429,474
DOMTAR CORP COM NEW 22,289 -2,305 (9.37) 481,915
GOLDMAN SACHS GROUP INC COM 23,741 -2,456 (9.37) 126,240
JABIL CIRCUIT INC COM 22,286 -2,305 (9.37) 973,202
POPULAR INC COM NEW 14,841 -1,535 (9.37) 442,499
SUPERVALU INC COM 23,555 -2,436 (9.37) 2,071,719
TERADYNE INC COM 14,860 -1,537 (9.37) 792,535
QUAD / GRAPHICS INC COM CL A 18,129 -1,617 (8.19) 797,594
AEROPOSTALE COM 11,229 -976 (8) 3,402,763