Varde Management, L.P.
Portfolio value QoQ: +38.8% 13F does not disclose cash
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 0.0% Est. buys $11,496,585 · sells $0
Median holding: 2.0 quarters Tracked Q1 2025–Q2 2026 · 50.0% still held
Put-notional exposure: 1.9% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
Performance vs S&P 500
Annualized: +152.3% · S&P 500: +21.7%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Sector breakdown
Full portfolio 5 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| ZD | $32,680,346 | 47.76% | 624,028 | $10,272,531 | Up ×1 | ||
| SGRY | $16,857,910 | 24.64% | 1,003,447 | $7,853,089 | Up ×1 | ||
| SATS | $16,179,100 | 23.65% | 159,400 | $-1,077,018 | Up ×1 | ||
| ZIP | $1,392,960 | 2.04% | 371,456 | $753,510 | Up ×1 | ||
| DJT | $1,309,000 | 1.91% | 8,500 | Put option | Up ×1 | ||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| DJT | $1,309,000 | 8,500 | 1.91% |
Top movers (QoQ)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.