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Varde Management, L.P.

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13F filer, CIK 1559130, New York, NY

Varde Management, L.P. reported $49,308,204 across 4 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001193125-26-225680

Period
2026-03-31
Reported value
$49.3M
Holdings
4
Top 10 weight
100%
New
3
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ZDnew+534,028$22.4M
SGRYnew+755,438$9M
ZIPnew+347,527$639K

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
NBRexited-264,220-$14.3M
ECHOreduced-58,000-$6.79M
AHTexited-175,512-$748K

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 2026

Share positions as resolved from 13F-HR 0001193125-26-225680, largest first. % of portfolio is the value over $49,308,204, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ZDZIFF DAVIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 534,028 shares 534,028$22.4M45.44%newTimeline
ECHOECHOSTAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 139,200 shares; 2025Q4: 205,400 shares; 2026Q1: 147,400 shares 147,400$17.3M35%-58,000Timeline
SGRYSURGERY PARTNERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 755,438 shares 755,438$9M18.26%newTimeline
ZIPZIPRECRUITER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 347,527 shares 347,527$639K1.3%newTimeline

Sold out in Q1 2026

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

SecurityShares beforeValue beforeType
NBRNABORS INDUSTRIES LTD264,220$14.3Mshares
AHTASHFORD HOSPITALITY TR INC175,512$748Kshares

How Q1 2026 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 0001193125-26-225680 base2026-05-15acceptance time not in the bulk data set