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VM

Varde Management Portfolio holdings

AUM $49.3M
1-Year Est. Return 87.64%
This Fund
S&P 500
This Quarter Est. Return
-1.91%
1 Year Est. Return
+87.64%
3 Year Est. Return
+108.1%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$347M
AUM Growth
-$40.9M
Cap. Flow
-$209M
Cap. Flow %
-60.22%
Top 10 Hldgs %
96.34%
Holding
19
New
1
Increased
1
Reduced
2
Closed
5

Top Buys

Rank Stock Value
1
KBH icon
KB Home
KBH
+$3.28M

Top Sells

Rank Stock Value
1
MTH icon
Meritage Homes
MTH
+$3.29M
2
AHT
Ashford Hospitality Trust
AHT
+$2.29M

Sector Composition

Rank Sector Weight
1 Real Estate 31.76%
2 Consumer Discretionary 9.02%
3 Financials 8.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VICI icon
1
VICI Properties
VICI
$28.7B
$92.9M 26.78%
3,113,586
– –
OMF icon
2
OneMain Financial
OMF
$7.27B
$29.2M 8.42%
989,624
– –
AHT
3
Ashford Hospitality Trust
AHT
$20.7M
$14.8M 4.27%
217,645
-25,761
-11% -$2.29M
KBH icon
4
KB Home
KBH
$3.47B
$11.1M 3.2%
428,891
+109,000
+34% +$3.28M
MTH icon
5
Meritage Homes
MTH
$4.69B
$9.67M 2.79%
275,200
-81,400
-23% -$3.29M
TPH
6
DELISTED
Tri Pointe Homes
TPH
$7.83M 2.26%
518,000
– –
CUK
7
PUT
DELISTED
Carnival PLC
CUK
$5.81M 1.67%
+52,320
New +$454K
MDC
8
DELISTED
M.D.C. Holdings, Inc.
MDC
$2.7M 0.78%
98,456
– –
CCS icon
9
Century Communities
CCS
$1.96B
$2.46M 0.71%
57,534
– –
AAL icon
10
PUT
American Airlines Group
AAL
$9.93B
– –
-45,455
Closed -$2.86M
CCL icon
11
PUT
Carnival Corporation Ltd
CCL
$38B
– –
-193,500
Closed -$18M
NCLH icon
12
PUT
Norwegian Cruise Line
NCLH
$8.52B
– –
-66,113
Closed -$3.44M
RCL icon
13
PUT
Royal Caribbean
RCL
$82.4B
– –
-11,793
Closed -$1.13M
UAL icon
14
PUT
United Airlines
UAL
$40.2B
– –
-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 $209M 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 Real Estate at 32% of assets, up from 28% a quarter earlier, followed by Consumer Discretionary and Financials.

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.