Institutional Manager · CIK 0001559130
Varde Management, L.P.
New York, NY · File #028-16215
Latest AUM
$37.4M
Positions
3
Top-10 Concentration
100.0%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | Nabors Industries Ltd | NBRWF | -1,454,210 | -$79.0M | +$33.5M |
| ADD | EchoStar Corp | SATS | +66,200 | +$7.2M | +$4.5M |
| EXITED | Service Pptys Tr | 81761L102 | -1,363,572 | -$3.7M | $0 |
| REDUCE | Ashford Hospitality Tr Inc | AHT-PD | 0 | $0 | -$368,575 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 20253 pos · $37.4M
- 13F HOLDINGS REPORTQ/E Sep 20254 pos · $53.1M
- 13F HOLDINGS REPORTQ/E Jun 20254 pos · $75.5M
- 13F HOLDINGS REPORTQ/E Mar 20254 pos · $142.7M
- 13F HOLDINGS REPORTQ/E Dec 20246 pos · $121.7M
- 13F HOLDINGS REPORTQ/E Sep 20243 pos · $117.5M
- 13F HOLDINGS REPORTQ/E Jun 20242 pos · $30.4M
- 13F HOLDINGS REPORTQ/E Mar 20242 pos · $43.0M
- 13F HOLDINGS REPORTQ/E Dec 20235 pos · $166.3M
Top 3 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | EchoStar Corp | SATS | 205,400 | $22.3M | 59.66% |
| 2 | Nabors Industries Ltd | NBRWF | 264,220 | $14.3M | 38.34% |
| 3 | Ashford Hospitality Tr Inc | AHT-PD | 175,512 | $747,681 | 2.00% |