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Varde Management Portfolio holdings
AUM
$68.4M
Turnover
20%
1-Year Est. Return
187.6%
This Fund
S&P 500
This Quarter Est. Return
-4.62%
1 Year Est. Return
+187.6%
3 Year Est. Return
+148.6%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$106M
AUM Growth
+$990K
(+0.95%)
Cap. Flow
+$6.17M
Cap. Flow % of AUM
Cap. Flow %
5.84%
Top 10 Holdings %
Top 10 Hldgs %
99.95%
Holding
15
New
2
Increased
1
Reduced
2
Closed
4
Avg Time Held
Equity + Options
0.2
years
Top 10 Avg Time Held
Equity + Options
0.2
years
Top 20 Avg Time Held
Equity + Options
0.2
years
Avg Time Held Equity only
0.2
years
Top 10 Avg Time Held Equity only
0.2
years
Top 20 Avg Time Held Equity only
0.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ally Financial
ALLY
|
+$23.7M |
| 2 |
RBS.PRL.CL
Royal Bank Of Scotland Group Plc
RBS.PRL.CL
|
+$18.4M |
| 3 |
American Airlines Group
AAL
|
+$62.7K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RBS.PRN
ROYAL BK SCOTLAND GROUP PLC ADR RPTNG PFD SHRS SER N (UK)
RBS.PRN
|
+$12.8M |
| 2 |
Oaktree Specialty Lending
OCSL
|
+$10.2M |
| 3 |
MidCap Financial Investment
MFIC
|
+$10.1M |
| 4 |
SLR Investment Corp
SLRC
|
+$1.38M |
| 5 |
RBS.PRP
Royal Bank of Scotland Group Plc (The) ADR representing Pref
RBS.PRP
|
+$782K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 67.45% |
| 2 | Miscellaneous | 32.49% |
| 3 | Industrials | 0.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
RBS.PRL.CL
1
DELISTED
Royal Bank Of Scotland Group Plc
RBS.PRL.CL
| $30.6M | 28.99% |
1,320,919
+794,755
| +151% | +$18.4M |
2014 Q2
1 quarter
|
|
|
2
Ally Financial
ALLY
$11.4B
| $22.9M | 21.72% |
+990,927
| New | +$23.7M |
2014 Q3
0 quarters
|
|
3
Prospect Capital
PSEC
$830M
| $14.4M | 13.6% |
1,450,000
| – | – |
2014 Q2
1 quarter
|
|
4
PhenixFIN
PFX
$77.5M
| $10.1M | 9.57% |
42,798
| – | – |
2014 Q2
1 quarter
|
|
5
Ares Capital
ARCC
$14B
| $9.7M | 9.18% |
600,000
| – | – |
2014 Q2
1 quarter
|
|
|
FCRD
6
DELISTED
First Eagle Alternative Capital BDC, Inc. Common Stock
FCRD
| $5.1M | 4.83% |
395,601
-54,220
| -12% | -$740K |
2014 Q2
1 quarter
|
|
|
7
SLR Investment Corp
SLRC
$632M
| $4.92M | 4.66% |
263,614
-68,486
| -21% | -$1.38M |
2014 Q2
1 quarter
|
|
|
COB
8
DELISTED
CommunityOne Bancorp
COB
| $4.1M | 3.89% |
465,503
| – | – |
2014 Q2
1 quarter
|
|
|
RBS.PRR
9
DELISTED
Royal Bank of Scotland Group Plc (The) ADR repstg USD Pfd Sh
RBS.PRR
| $3.1M | 2.94% |
130,254
| – | – |
2014 Q2
1 quarter
|
|
10
PUT
DELISTED
ARCH COAL, INC.
ACI
| $599K | 0.57% |
465
| – | – |
2014 Q2
1 quarter
|
|
|
11
American Airlines Group
AAL
$9.35B
| $56K | 0.05% |
+1,593
| New | +$62.7K |
2014 Q3
0 quarters
|
|
|
12
MidCap Financial Investment
MFIC
$849M
| – | – |
-391,667
| Closed | -$10.1M | – |
|
|
13
Oaktree Specialty Lending
OCSL
$1.09B
| – | – |
-345,018
| Closed | -$10.2M | – |
|
|
RBS.PRN
14
DELISTED
ROYAL BK SCOTLAND GROUP PLC ADR RPTNG PFD SHRS SER N (UK)
RBS.PRN
| – | – |
-533,000
| Closed | -$12.8M | – |
|
|
RBS.PRP
15
DELISTED
Royal Bank of Scotland Group Plc (The) ADR representing Pref
RBS.PRP
| – | – |
-33,000
| Closed | -$782K | – |
|
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Varde Management's Q3 2014 Portfolio in Review
As of Q3 2014, Varde Management held 15 positions worth $106M, up 0.95% from $105M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Varde Management deployed $6.17M of net new capital in Q3 2014, opening 2 new positions and adding to 1 existing holding. Its largest new stake was Ally Financial: 990,927 shares worth $22.9M.
By sector, the portfolio is most concentrated in Financials at 67% of assets, down from 72% a quarter earlier, followed by Miscellaneous and Industrials.
On the sell side, the largest reduction was SLR Investment Corp, an estimated $1.38M trimmed.
- Varde Management's largest Q3 2014 buy was Ally Financial: 990,927 shares worth $22.9M.
- Varde Management added most to Royal Bank Of Scotland Group Plc in Q3 2014, an estimated $18.4M increase.
- Varde Management's biggest Q3 2014 reduction was SLR Investment Corp, cutting an estimated $1.38M.
- Varde Management fully exited ROYAL BK SCOTLAND GROUP PLC ADR RPTNG PFD SHRS SER N (UK) in Q3 2014, selling an estimated $12.8M.
- Varde Management's ten largest holdings make up 100% of its $106M portfolio in Q3 2014.
- Varde Management opened 2 new positions and closed 4 in Q3 2014.
- Varde Management's portfolio value rose 0.95% quarter-over-quarter to $106M.
Based on Varde Management's 13F filing for Q3 2014, filed 6 Nov 2014.