Elm Ridge Management, LLC

BRIARCLIFF MANOR, NY · CIK 1483276 · 13F filing filed 2024-05-15

SEC-registered investment adviser since 2023 · limited liability company

Assets managed$155.1m
Staff2 · 2 in investment roles
Main clients (by assets)Private funds 100%
Private funds1 (1 hedge) · $155.1m gross assets
Websiteelmridgemanagement.com
Form ADV · 2026-03-20SEC adviser record

Legal entityELM RIDGE MANAGEMENT, LLC (US)

Kindhedge funds, futures
Others nearbyBriarcliff Manor, NY

As an employer

Offices in1 country
Private fundshedge 1

$88.7m reported value -1.7% vs Q4 2023

25positions

54.6%in top 10

1 new 5 added 10 reduced 1 sold out vs Q4 2023

Options: 0 call positions (— notional), 2 put positions ($76.9k notional) – listed below, not included above.

Holdings, Q1 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	AERCAP HOLDINGS NV SHS AER	AER	71,954	$6.3m7.05%	7.05%	Reduced -15.0k	-14,954 -17.2%
2	SYLVAMO CORP COMMON STOCK SLVM	SLVM	94,562	$5.8m6.58%	6.58%	Reduced -3.9k	-3,925 -4.0%
3	CITIGROUP INC COM NEW C	C	91,925	$5.8m6.55%	6.55%	Unchanged
4	ONEMAIN HLDGS INC COM OMF	OMF	109,776	$5.6m6.32%	6.32%	Added +11	+11 0.0%
5	LYONDELLBASELL INDUSTRIES N SHS - A - LYB	LYB	52,300	$5.3m6.03%	6.03%	Unchanged
6	ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH MT	MT	156,189	$4.3m4.86%	4.86%	Unchanged
7	MAGNOLIA OIL & GAS CORP CL A MGY	MGY	152,503	$4.0m4.46%	4.46%	Added +23.3k	+23,256 18.0%
8	ALCOA CORP COM AA	AA	115,022	$3.9m4.38%	4.38%	Reduced -14.5k	-14,481 -11.2%
9	ARCBEST CORP COM ARCB	ARCB	26,403	$3.8m4.24%	4.24%	Reduced -7.7k	-7,703 -22.6%
10	ANTERO RESOURCES CORP COM AR	AR	127,517	$3.7m4.17%	4.17%	Reduced -18.4k	-18,367 -12.6%
11	SYNCHRONY FINANCIAL COM SYF	SYF	80,398	$3.5m3.91%	3.91%	Unchanged
12	EQT CORP COM EQT	EQT	90,188	$3.3m3.77%	3.77%	Added +13.2k	+13,173 17.1%
13	VALARIS LTD CL A VAL	VAL	43,464	$3.3m3.69%	3.69%	Reduced -13.5k	-13,509 -23.7%
14	DEVON ENERGY CORP NEW COM DVN	DVN	65,065	$3.3m3.68%	3.68%	Reduced -16.5k	-16,471 -20.2%
15	APA CORPORATION COM APA	APA	92,104	$3.2m3.57%	3.57%	Reduced -14.5k	-14,509 -13.6%
16	CANADIAN NAT RES LTD COM CNQ	CNQ	41,326	$3.2m3.56%	3.56%	Unchanged
17	NOV INC COM NOV	NOV	160,402	$3.1m3.53%	3.53%	Reduced -23.2k	-23,231 -12.7%
18	LEAR CORP COM NEW LEA	LEA	20,713	$3.0m3.38%	3.38%	Unchanged
19	ADIENT PLC ORD SHS ADNT	ADNT	83,969	$2.8m3.12%	3.12%	Reduced -13.1k	-13,140 -13.5%
20	CHEMOURS CO COM CC	CC	102,641	$2.7m3.04%	3.04%	Unchanged
21	NABORS INDUSTRIES LTD SHS NBR	NBR	30,374	$2.6m2.95%	2.95%	Unchanged
22	RANGE RES CORP COM RRC	RRC	73,283	$2.5m2.84%	2.84%	Unchanged
23	DANA INC COM DAN	DAN	192,099	$2.4m2.75%	2.75%	Added +42.6k	+42,636 28.5%
24	NEWELL BRANDS INC COM NWL	NWL	142,897	$1.1m1.29%	1.29%	Added +31.2k	+31,180 27.9%
25	NETGEAR INC COM NTGR	NTGR	16,480	$259.9k0.29%	0.29%	New

Sold out since Q4 2023

Security	Ticker	Shares held before	Value then
CONOCOPHILLIPS COP	COP	29,233	$3.4m29.2k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
HAMILTON LANE INC HLNE · Put	HLNE	Put	10,000	$58.0k10.0k shares	New
ISHARES TR SOXX · Put	SOXX	Put	12,000	$18.9k12.0k shares	New