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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
+61.9%
1 Year Est. Return
+187.6%
3 Year Est. Return
+148.6%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$75.2M
AUM Growth
-$244K
Cap. Flow
-$4.57M
Cap. Flow %
-6.08%
Top 10 Hldgs %
100%
Holding
6
New
2
Increased
–
Reduced
–
Closed
2
Avg Time Held
4.3 quarters
Top 10 Avg Time Held
4.3 quarters
Top 20 Avg Time Held
4.3 quarters

Top Buys

Rank Stock Value
1
ECHO
EchoStar
ECHO
+$6.3M
2
SVC
Service Properties Trust
SVC
+$3.7M

Top Sells

Rank Stock Value
1
LTM
LATAM Airlines Group S.A.
LTM
+$13.1M
2
TDW icon
Tidewater
TDW
+$1.42M

Sector Composition

Rank Sector Weight
1 Energy 79.47%
2 Communication Services 14.13%
3 Real Estate 6.4%
4 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
NBR icon
1
Nabors Industries
NBR
$1.23B
$59.8M 79.47%
1,718,430
– –
2025 Q1
2 quarters
ECHO
2
EchoStar
ECHO
$27.6B
$10.6M 14.13%
+139,200
New +$6.3M
2025 Q3
0 quarters
SVC
3
Service Properties Trust
SVC
$926M
$3.7M 4.91%
+272,714
New +$3.7M
2025 Q3
0 quarters
AHT
4
Ashford Hospitality Trust
AHT
$14M
$1.12M 1.48%
175,512
– –
2021 Q4
15 quarters
TDW icon
5
Tidewater
TDW
$4.25B
– –
-28,390
Closed -$1.42M –
LTM
6
LATAM Airlines Group S.A.
LTM
$14.4B
– –
-303,036
Closed -$13.1M –

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JC
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ILCM
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CAS
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AIS
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CCM
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SAMC
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Varde Management's Q3 2025 Portfolio in Review

As of Q3 2025, Varde Management held 6 positions worth $75.2M, down 0.32% from $75.5M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Varde Management withdrew a net $4.57M in Q3 2025, closing 2 positions. Its most notable exit was LATAM Airlines Group S.A., an estimated $13.1M position sold in full.

By sector, the portfolio is most concentrated in Energy at 79% of assets, down from 81% a quarter earlier, followed by Communication Services and Real Estate.

Against the trend, Varde Management opened a new position in EchoStar worth $10.6M.

  • Varde Management's largest Q3 2025 buy was EchoStar: 139,200 shares worth $10.6M.
  • Varde Management fully exited LATAM Airlines Group S.A. in Q3 2025, selling an estimated $13.1M.
  • Varde Management's ten largest holdings make up 100% of its $75.2M portfolio in Q3 2025.
  • Varde Management opened 2 new positions and closed 2 in Q3 2025.
  • Varde Management's portfolio value fell 0.32% quarter-over-quarter to $75.2M.

Based on Varde Management's 13F filing for Q3 2025, filed 14 Nov 2025.