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Varde Management, L.P.

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13F filer, CIK 1559130, New York, NY

Varde Management, L.P. reported $142,717,798 across 4 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000950123-25-005592

Period
2025-03-31
Reported value
$143M
Holdings
4
Top 10 weight
100%
New
2
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NBRnew+2,013,930$51.5M
AHTnew+175,512$1.05M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
LTMreduced-698,198-$22M
OMFexited-299,792-$15.6M
VALexited-59,220-$2.62M
ASHFORD HOSPITALITY TR INCexited-2,092,981-$1.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0000950123-25-005592, largest first. % of portfolio is the value over $142,717,798, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
LTMLATAM AIRLINES GROUP SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,533,858 shares; 2024Q4: 3,533,858 shares; 2025Q1: 2,835,660 shares 2,835,660$89.2M62.49%-698,198Timeline
NBRNABORS INDUSTRIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,013,930 shares 2,013,930$51.5M36.06%newTimeline
AHTASHFORD HOSPITALITY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 175,512 shares 175,512$1.05M0.74%newTimeline
TDWTIDEWATER INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 28,390 shares; 2025Q1: 28,390 shares 28,390$1.03M0.72%0Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
OMFONEMAIN HLDGS INC299,792$15.6Mshares
CHEGG INCCHEGG INC3,000,000$2.93Mprincipal
VALVALARIS LTD59,220$2.62Mshares
ASHFORD HOSPITALITY TR INCASHFORD HOSPITALITY TR INC2,092,981$1.5Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000950123-25-005592 base2025-05-15acceptance time not in the bulk data set