Varde Management, L.P.

All Holdings — 2025 Q4

Portfolio Concentration Analytics: 7.6
Risk-based ENB:
Total Positions
4
Quarter
2025 Q4
Top Holding
SATS (59.7%)
Top 10 Concentration
100.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-4 of 4
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
SATS
EchoStar Corp
Communication Services 59.66% 14.13% #1 1
Prev: #2
10.0 66,200 47.6%
P
S
205,400 $22,326,980 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NBR
Nabors Industri...
Energy 38.34% 79.47% #2 1
Prev: #1
10.0 -1,454,210 -84.6%
P
S
264,220 $14,347,146 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AHT
Ashford Hospita...
Real Estate 2.00% 1.48% #3 1
Prev: #4
0.8 no change no change
P
S
175,512 $747,681 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SVC
Service Pptys T...
Bond/Debt 0.00% 4.91%
Sold All 😨
(Was: #3)
0.3 -1,363,572 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-4 of 4 holdings

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