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VM

Varde Management Portfolio holdings

AUM $68.4M Turnover 20%
1-Year Est. Return 187.6%
This Fund
S&P 500
This Quarter Est. Return
+6.64%
1 Year Est. Return
+187.6%
3 Year Est. Return
+148.6%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$49.3M
AUM Growth
+$11.9M
Cap. Flow
+$9.58M
Cap. Flow %
19.43%
Top 10 Hldgs %
100%
Holding
6
New
3
Increased
–
Reduced
1
Closed
2
Avg Time Held
0.1 years
Top 10 Avg Time Held
0.1 years
Top 20 Avg Time Held
0.1 years

Top Buys

Rank Stock Value
1
ZD icon
Ziff Davis
ZD
+$19.6M
2
SGRY icon
Surgery Partners
SGRY
+$10.8M
3
ZIP icon
ZipRecruiter
ZIP
+$852K

Top Sells

Rank Stock Value
1
NBR icon
Nabors Industries
NBR
+$14.3M
2
ECHO icon
EchoStar
ECHO
+$6.66M
3
AHT icon
Ashford Hospitality Trust
AHT
+$748K

Sector Composition

Rank Sector Weight
1 Communication Services 81.74%
2 Healthcare 18.26%
3 Energy 0%
4 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ZD icon
1
Ziff Davis
ZD
$2B
$22.4M 45.44%
+534,028
New +$19.6M
2026 Q1
0 quarters
ECHO icon
2
EchoStar
ECHO
$25.3B
$17.3M 35%
147,400
-58,000
-28% -$6.66M
2025 Q3
2 quarters
SGRY icon
3
Surgery Partners
SGRY
$1.93B
$9M 18.26%
+755,438
New +$10.8M
2026 Q1
0 quarters
ZIP icon
4
ZipRecruiter
ZIP
$399M
$639K 1.3%
+347,527
New +$852K
2026 Q1
0 quarters
AHT icon
5
Ashford Hospitality Trust
AHT
$12M
– –
-175,512
Closed -$748K –
NBR icon
6
Nabors Industries
NBR
$1.16B
– –
-264,220
Closed -$14.3M –

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JC
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ILCM
Ivy Lane Capital Management Winter Park, Florida $69M AUM 26.35% 1-Year Est. Return
CAS
CTC Alternative Strategies Chicago, Illinois $69.3M AUM 51.76% 1-Year Est. Return
AIS
Altium Investment Strategies Wesley Chapel, Florida $69.4M AUM
CCM
Courage Capital Management Nashville, Tennessee $67.3M AUM 9.93% 1-Year Est. Return
SAMC
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Varde Management's Q1 2026 Portfolio in Review

As of Q1 2026, Varde Management held 6 positions worth $49.3M, up 32% from $37.4M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Varde Management deployed $9.58M of net new capital in Q1 2026, opening 3 new positions. Its largest new stake was Ziff Davis: 534,028 shares worth $22.4M.

By sector, the portfolio is most concentrated in Communication Services at 82% of assets, up from 60% a quarter earlier, followed by Healthcare and Energy.

On the sell side, the largest reduction was EchoStar, an estimated $6.66M trimmed.

  • Varde Management's largest Q1 2026 buy was Ziff Davis: 534,028 shares worth $22.4M.
  • Varde Management's biggest Q1 2026 reduction was EchoStar, cutting an estimated $6.66M.
  • Varde Management fully exited Nabors Industries in Q1 2026, selling an estimated $14.3M.
  • Varde Management's ten largest holdings make up 100% of its $49.3M portfolio in Q1 2026.
  • Varde Management opened 3 new positions and closed 2 in Q1 2026.
  • Varde Management's portfolio value rose 32% quarter-over-quarter to $49.3M.

Based on Varde Management's 13F filing for Q1 2026, filed 15 May 2026.