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VM
Varde Management Portfolio holdings
AUM
$68.4M
1-Year Est. Return
187.6%
This Fund
S&P 500
This Quarter
Est. Return
-1.91%
1 Year Est. Return
+187.6%
3 Year Est. Return
+148.6%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$347M
AUM Growth
-$40.9M
(-11%)
Cap. Flow
-$183M
Cap. Flow
% of AUM
-52.7%
Top 10 Holdings %
Top 10 Hldgs %
96.34%
Holding
19
New
1
Increased
1
Reduced
2
Closed
5
Avg Time Held Equity + Options
2.6
quarters
Top 10 Avg Time Held Equity + Options
2.2
quarters
Top 20 Avg Time Held Equity + Options
1.9
quarters
Avg Time Held Equity only
2.8
quarters
Top 10 Avg Time Held Equity only
2.3
quarters
Top 20 Avg Time Held Equity only
2.1
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
KB Home
KBH
|
+$3.28M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meritage Homes
MTH
|
+$3.29M |
| 2 |
AHT
Ashford Hospitality Trust
AHT
|
+$2.29M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 50.8% |
| 2 | Real Estate | 31.76% |
| 3 | Consumer Discretionary | 9.02% |
| 4 | Financials | 8.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
VICI Properties
VICI
$25.2B
| $92.9M | 26.78% |
3,113,586
| – | – |
2021 Q4
3 quarters
|
|
2
OneMain Financial
OMF
$6.45B
| $29.2M | 8.42% |
989,624
| – | – |
2019 Q1
14 quarters
|
|
|
AHT
3
Ashford Hospitality Trust
AHT
$14M
| $14.8M | 4.27% |
217,645
-25,761
| -11% | -$2.29M |
2021 Q4
3 quarters
|
|
|
4
KB Home
KBH
$2.62B
| $11.1M | 3.2% |
428,891
+109,000
| +34% | +$3.28M |
2022 Q2
1 quarter
|
|
|
5
Meritage Homes
MTH
$3.83B
| $9.67M | 2.79% |
275,200
-81,400
| -23% | -$3.29M |
2022 Q2
1 quarter
|
|
|
TPH
6
DELISTED
Tri Pointe Homes
TPH
| $7.83M | 2.26% |
518,000
| – | – |
2022 Q2
1 quarter
|
|
|
CUK
7
PUT
DELISTED
Carnival PLC
CUK
| $5.81M | 1.67% |
+52,320
| New | +$454K |
2022 Q3
0 quarters
|
|
|
MDC
8
DELISTED
M.D.C. Holdings, Inc.
MDC
| $2.7M | 0.78% |
98,456
| – | – |
2022 Q2
1 quarter
|
|
9
Century Communities
CCS
$1.58B
| $2.46M | 0.71% |
57,534
| – | – |
2022 Q2
1 quarter
|
|
10
PUT
American Airlines Group
AAL
$8.45B
| – | – |
-45,455
| Closed | -$2.86M | – |
|
11
PUT
Carnival Corporation Ltd
CCL
$35.4B
| – | – |
-193,500
| Closed | -$18M | – |
|
12
PUT
Norwegian Cruise Line
NCLH
$7.15B
| – | – |
-66,113
| Closed | -$3.44M | – |
|
13
PUT
Royal Caribbean
RCL
$75.5B
| – | – |
-11,793
| Closed | -$1.13M | – |
|
14
PUT
United Airlines
UAL
$34.9B
| – | – |
-11,640
| Closed | -$1.11M | – |
|
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Varde Management's Q3 2022 Portfolio in Review
As of Q3 2022, Varde Management held 19 positions worth $347M, down 11% from $388M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Varde Management withdrew a net $183M in Q3 2022, closing 5 positions and reducing 2 holdings. Its largest reduction was Meritage Homes, cutting an estimated $3.29M.
By sector, the portfolio is most concentrated in Miscellaneous at 51% of assets, down from 53% a quarter earlier, followed by Real Estate and Consumer Discretionary.
Against the trend, Varde Management added an estimated $3.28M to KB Home.
- Varde Management added most to KB Home in Q3 2022, an estimated $3.28M increase.
- Varde Management's biggest Q3 2022 reduction was Meritage Homes, cutting an estimated $3.29M.
- Varde Management's ten largest holdings make up 96% of its $347M portfolio in Q3 2022.
- Varde Management opened 1 new position and closed 5 in Q3 2022.
- Varde Management's portfolio value fell 11% quarter-over-quarter to $347M.
Based on Varde Management's 13F filing for Q3 2022, filed 9 Nov 2022.