VARDE MANAGEMENT, L.P.

Filed: 11/14/2023ACC: 0000950123-23-010552

📋 What this filing means

VARDE MANAGEMENT, L.P. filed this quarterly 13F‑HR report disclosing 5 equity positions with a total reported market value of $166.26M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$166.26M

Total AUM (reported)

99.78M

Total Shares

Allocation by class

COM$83.51M50.2%

NOTE 0.000% 02/01/26$48.72M29.3%

NOTE 0.500% 02/01/27$28.83M17.3%

COM SHS$5.20M3.1%

Portfolio Concentration

Top 3$132.23M79.5%

4–10$34.03M20.5%

Top 3 weight

79.5%

Top 10 weight

100.0%

Voting Authority Distribution

Total shares with voting rights: 99.78M

Sole

Full voting authority

99.78M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole5

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings5

Rows:

VNET Group Inc

SOLE

NOTE 0.000% 02/01/26

Shares62.06M

TypePRN

Market value$48.72M

29.30%

Sole

62.06M

Shared

0.00

None

0.00

VICI Pptys Inc

SOLE

COM

Shares1.44M

TypeSH

Market value$42.03M

25.28%

Sole

1.44M

Shared

0.00

None

0.00

OneMain Hlgs Inc

SOLE

COM

Shares1.03M

TypeSH

Market value$41.48M

24.95%

Sole

1.03M

Shared

0.00

None

0.00

Nio Inc

SOLE

NOTE 0.500% 02/01/27

Shares33.06M

TypePRN

Market value$28.83M

17.34%

Sole

33.06M

Shared

0.00

None

0.00

Ashford Hospitality Tr Inc

SOLE

COM SHS

Shares2.18M

TypeSH

Market value$5.20M

3.13%

Sole

2.18M

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
VNET Group IncSOLE	NOTE 0.000% 02/01/26	62.06M	PRN	$48.72M 29.30%	62.06M
VICI Pptys IncSOLE	COM	1.44M	SH	$42.03M 25.28%	1.44M
OneMain Hlgs IncSOLE	COM	1.03M	SH	$41.48M 24.95%	1.03M
Nio IncSOLE	NOTE 0.500% 02/01/27	33.06M	PRN	$28.83M 17.34%	33.06M
Ashford Hospitality Tr IncSOLE	COM SHS	2.18M	SH	$5.20M 3.13%	2.18M