Varde Management, L.P.
CIK 1559130 · View on SEC EDGAR ↗
- Portfolio value
- $68.4M
- Positions
- 5
- As of
- June 30, 2026
Portfolio value QoQ: +38.8% 13F does not disclose cash
- Top 10 holdings weight
- 100.00%
- Top 25 holdings weight
- 100.00%
- Positions above 1%
- 5
- Effective number of positions
- 2.9
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 Q4 2024–Q2 2026 · 35.7% still held
- New positions
- 1
- Increased
- 4
- Decreased
- 0
- Closed
- 2
Put-notional exposure: 1.9% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +145.6% · 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.
Priceable coverage: 100.0% · Options excluded: 0.0%
Sector breakdown
Full portfolio 5 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| ZD Ziff Davis, Inc. - Common Stock | $32,680,346 | 47.76% | 624,028 | $10,272,531 | Up ×1 | ||
| SGRY Surgery Partners, Inc. - Common Stock | $16,857,910 | 24.64% | 1,003,447 | $7,853,089 | Up ×1 | ||
| SATS EchoStar Corporation - Common stock | $16,179,100 | 23.65% | 159,400 | $-1,077,018 | Up ×1 | ||
| ZIP ZipRecruiter, Inc. Class A Common Stock | $1,392,960 | 2.04% | 371,456 | $753,510 | Up ×1 | ||
| DJT Trump Media & Technology Group Corp. - Common Stock | $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.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| OMF | March 31, 2025 | 299,792 | $15,628,157 | 33.6% |
| NBR | March 31, 2026 | 264,220 | $14,347,146 | 9.4% |
| LTM | Sept. 30, 2025 | 303,036 | $13,148,732 | 13.8% |
| SVC | Dec. 31, 2025 | 1,363,572 | $3,695,280 | 332.1% |
| VAL | March 31, 2025 | 59,220 | $2,619,893 | 121.9% |
| AHTXXXX | March 31, 2025 | 2,092,981 | $1,504,838 | No longer tracked |
| TDW | Sept. 30, 2025 | 28,390 | $1,419,784 | 76.8% |
| AHT | March 31, 2026 | 175,512 | $747,681 | 19.5% |