Varde Management, L.P. Quant / Systematic

Location: New York, NY

CIK: 0001559130 · Show all filings

Period: Q2 2022 (← Previous) (Next →)

Filing Date: Aug 9, 2022

Total Value: $388M (53.4% shares, 46.6% debt)

Holdings (18)

VICI VICI Pptys Inc 23.9%

Value $92.75M Shares 3,113,586 Est. Cost $23.15 Unrealized +4.4%

— IQIYI Inc 15.8%

Value $61.43M Shares 92,320,000 Est. Cost $0.72 Unrealized —

— VNET Group Inc 14.4%

Value $55.98M Shares 68,663,000 Est. Cost $0.77 Unrealized —

— Nio Inc 10.6%

Value $41.25M Shares 55,277,000 Est. Cost $0.81 Unrealized —

OMF OneMain Hlgs Inc 9.5%

Value $36.99M Shares 989,624 Est. Cost $30.95 Unrealized +39.6%

— IQIYI Inc 5.2%

Value $20.27M Shares 25,200,000 Est. Cost $0.72 Unrealized —

— Carnival Corp 4.6%

Value $18M Shares 193,500 Est. Cost — Unrealized —

— Ashford Hospitality Tr Inc 3.8%

Value $14.56M Shares 2,434,064 Est. Cost $9.60 Unrealized —

MTH Meritage Homes Corp 3.3%

Value $12.93M Shares 178,300 Est. Cost $39.91 Unrealized 0.0%

KBH KB Home 2.3%

Value $9.104M Shares 319,891 Est. Cost $30.04 Unrealized 0.0%

TPH Tri Pointe Homes Inc 2.3%

Value $8.739M Shares 518,000 Est. Cost $19.61 Unrealized 0.0%

— Norwegian Cruise Line Holdings Ltd 0.9%

Value $3.438M Shares 66,113 Est. Cost — Unrealized —

— M D C Hldgs Inc 0.8%

Value $3.181M Shares 98,456 Est. Cost $32.31 Unrealized —

— American Airls Group Inc 0.7%

Value $2.864M Shares 45,455 Est. Cost — Unrealized —

CCS Century Cmntys Inc 0.7%

Value $2.587M Shares 57,534 Est. Cost $47.84 Unrealized 0.0%

— Nio Inc 0.4%

Value $1.68M Shares 2,000,000 Est. Cost $0.84 Unrealized —

— Royal Caribbean Group 0.3%

Value $1.132M Shares 11,793 Est. Cost — Unrealized —

— United Airls Hldgs Inc 0.3%

Value $1.106M Shares 11,640 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VICI	VICI Pptys Inc	3,113,586	$92.75M	23.9%	$23.15	+4.4%	COM	925652109
—	IQIYI Inc	92,320,000	$61.43M	15.8%	$0.72	—	NOTE 4.000% 12/15/26	46267XAE8
—	VNET Group Inc	68,663,000	$55.98M	14.4%	$0.77	—	NOTE 0.000% 02/01/26	90138VAB3
—	Nio Inc	55,277,000	$41.25M	10.6%	$0.81	—	NOTE 0.500% 02/01/27	62914VAF3
OMF	OneMain Hlgs Inc	989,624	$36.99M	9.5%	$30.95	+39.6%	COM	68268W103
—	IQIYI Inc	25,200,000	$20.27M	5.2%	$0.72	—	NOTE 2.000% 04/01/25	46267XAD0
—	Carnival Corp	193,500	$18M	4.6%	—	—	Put	143658950
—	Ashford Hospitality Tr Inc	2,434,064	$14.56M	3.8%	$9.60	—	COM SHS	044103869
MTH	Meritage Homes Corp	178,300	$12.93M	3.3%	$39.91	0.0%	COM	59001A102
KBH	KB Home	319,891	$9.104M	2.3%	$30.04	0.0%	COM	48666K109
TPH	Tri Pointe Homes Inc	518,000	$8.739M	2.3%	$19.61	0.0%	COM	87265H109
—	Norwegian Cruise Line Holdings Ltd	66,113	$3.438M	0.9%	—	—	Put	G66721954
—	M D C Hldgs Inc	98,456	$3.181M	0.8%	$32.31	—	COM	552676108
—	American Airls Group Inc	45,455	$2.864M	0.7%	—	—	Put	02376R952
CCS	Century Cmntys Inc	57,534	$2.587M	0.7%	$47.84	0.0%	COM	156504300
—	Nio Inc	2,000,000	$1.68M	0.4%	$0.84	—	NOTE 0.000% 02/01/26	62914VAE6
—	Royal Caribbean Group	11,793	$1.132M	0.3%	—	—	Put	V7780T953
—	United Airls Hldgs Inc	11,640	$1.106M	0.3%	—	—	Put	910047959