Filed: 2/13/2023ACC: 0000950123-23-001827
📋 What this filing means
VARDE MANAGEMENT, L.P. filed this quarterly 13F‑HR report disclosing 11 equity positions with a total reported market value of $242.16M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
11
Positions
$242.16M
Total AUM (reported)
204.03M
Total Shares
Allocation by class
COM$86.70M35.8%
NOTE 4.000% 12/15/26$57.01M23.5%
NOTE 0.000% 02/01/26$56.26M23.2%
NOTE 0.500% 02/01/27$28.93M11.9%
COM SHS$9.73M4.0%
PUT 4 06/16/23$3.33M1.4%
PUT 5 03/17/23$103.9K0.0%
Portfolio Concentration
Top 3$147.26M60.8%
4–10$94.88M39.2%
11–25$24.6K0.0%
Top 3 weight
60.8%
Top 10 weight
100.0%
Voting Authority Distribution
Total shares with voting rights: 204.03M
Sole
Full voting authority
204.03M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole11
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings11
Rows:
IQIYI Inc
SOLEShares92.32M
TypePRN
Market value$57.01M
23.54%
Sole
92.32M
Shared
0.00
None
0.00
VNET Group Inc
SOLEShares68.66M
TypeSH
Market value$56.26M
23.23%
Sole
68.66M
Shared
0.00
None
0.00
VICI Pptys Inc
SOLEShares1.05M
TypeSH
Market value$34.00M
14.04%
Sole
1.05M
Shared
0.00
None
0.00
OneMain Hlgs Inc
SOLEShares989.62K
TypeSH
Market value$32.96M
13.61%
Sole
989.62K
Shared
0.00
None
0.00
Nio Inc
SOLEShares38.06M
TypePRN
Market value$28.93M
11.95%
Sole
38.06M
Shared
0.00
None
0.00
Seadrill 2021 Ltd
SOLEShares607K
TypeSH
Market value$19.74M
8.15%
Sole
607K
Shared
0.00
None
0.00
Ashford Hospitality Tr Inc
SOLEShares2.18M
TypeSH
Market value$9.73M
4.02%
Sole
2.18M
Shared
0.00
None
0.00
Carnival Corp
SOLEShares127.94K
TypeSH
Market value$3.33M
1.37%
Sole
127.94K
Shared
0.00
None
0.00
Norwegian Cruise Line Hldg L
SOLEShares25.98K
TypeSH
Market value$103.9K
0.04%
Sole
25.98K
Shared
0.00
None
0.00
Norwegian Cruise Line Hldg L
SOLEShares5.95K
TypeSH
Market value$83.3K
0.03%
Sole
5.95K
Shared
0.00
None
0.00
Royal Caribbean Group
SOLEShares2.73K
TypeSH
Market value$24.6K
0.01%
Sole
2.73K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
IQIYI IncSOLE | NOTE 4.000% 12/15/26 | 92.32M | PRN | $57.01M 23.54% | 92.32M | 0.00 | 0.00 |
VNET Group IncSOLE | NOTE 0.000% 02/01/26 | 68.66M | SH | $56.26M 23.23% | 68.66M | 0.00 | 0.00 |
VICI Pptys IncSOLE | COM | 1.05M | SH | $34.00M 14.04% | 1.05M | 0.00 | 0.00 |
OneMain Hlgs IncSOLE | COM | 989.62K | SH | $32.96M 13.61% | 989.62K | 0.00 | 0.00 |
Nio IncSOLE | NOTE 0.500% 02/01/27 | 38.06M | PRN | $28.93M 11.95% | 38.06M | 0.00 | 0.00 |
Seadrill 2021 LtdSOLE | COM | 607K | SH | $19.74M 8.15% | 607K | 0.00 | 0.00 |
Ashford Hospitality Tr IncSOLE | COM SHS | 2.18M | SH | $9.73M 4.02% | 2.18M | 0.00 | 0.00 |
Carnival CorpSOLE | PUT 4 06/16/23 | 127.94K | SH | $3.33M 1.37% | 127.94K | 0.00 | 0.00 |
Norwegian Cruise Line Hldg LSOLE | PUT 5 03/17/23 | 25.98K | SH | $103.9K 0.04% | 25.98K | 0.00 | 0.00 |
Norwegian Cruise Line Hldg LSOLE | PUT 5 06/16/23 | 5.95K | SH | $83.3K 0.03% | 5.95K | 0.00 | 0.00 |
Royal Caribbean GroupSOLE | PUT 22.5 03/17/23 | 2.73K | SH | $24.6K 0.01% | 2.73K | 0.00 | 0.00 |