Varde Management, L.P. Quant / Systematic

CIK: 0001559130 · Show all filings

Period: Q3 2022 (← Previous) (Next →)

Filing Date: Nov 9, 2022

Total Value ($000): $347,057 (50.9% shares, 49.1% debt)

Holdings (14)

VICI VICI Pptys Inc 26.8%

Value ($000) $92,941 Shares 3,113,586 Est. Cost $23.15 Unrealized +18.3%

— IQIYI Inc 17.7%

Value ($000) $61,525 Shares 92,320,000 Est. Cost $0.72 Unrealized —

— VNET Group Inc 16.6%

Value ($000) $57,517 Shares 68,663,000 Est. Cost $0.77 Unrealized —

— Nio Inc 12.1%

Value ($000) $42,100 Shares 55,277,000 Est. Cost $0.81 Unrealized —

OMF OneMain Hlgs Inc 8.4%

Value ($000) $29,214 Shares 989,624 Est. Cost $30.95 Unrealized +19.0%

— Ashford Hospitality Tr Inc 4.3%

Value ($000) $14,822 Shares 2,176,453 Est. Cost $9.60 Unrealized —

KBH KB Home 3.2%

Value ($000) $11,117 Shares 428,891 Est. Cost $29.63 Unrealized -4.1%

MTH Meritage Homes Corp 2.8%

Value ($000) $9,669 Shares 137,600 Est. Cost $39.91 Unrealized +1.4%

TPH Tri Pointe Homes Inc 2.3%

Value ($000) $7,827 Shares 518,000 Est. Cost $19.61 Unrealized -10.0%

— IQIYI Inc 2.2%

Value ($000) $7,606 Shares 8,700,000 Est. Cost $0.72 Unrealized —

— Carnival Corp 1.7%

Value ($000) $5,808 Shares 52,320 Est. Cost — Unrealized —

— M D C Hldgs Inc 0.8%

Value ($000) $2,700 Shares 98,456 Est. Cost $32.31 Unrealized —

CCS Century Cmntys Inc 0.7%

Value ($000) $2,461 Shares 57,534 Est. Cost $47.84 Unrealized -3.8%

— Nio Inc 0.5%

Value ($000) $1,750 Shares 2,000,000 Est. Cost $0.84 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VICI	VICI Pptys Inc	3,113,586	$92,941	26.8%	$23.15	+18.3%	COM	925652109
—	IQIYI Inc	92,320,000	$61,525	17.7%	$0.72	—	NOTE 4.000% 12/15/26	46267XAE8
—	VNET Group Inc	68,663,000	$57,517	16.6%	$0.77	—	NOTE 0.000% 02/01/26	90138VAB3
—	Nio Inc	55,277,000	$42,100	12.1%	$0.81	—	NOTE 0.500% 02/01/27	62914VAF3
OMF	OneMain Hlgs Inc	989,624	$29,214	8.4%	$30.95	+19.0%	COM	68268W103
—	Ashford Hospitality Tr Inc	2,176,453	$14,822	4.3%	$9.60	—	COM SHS	044103869
KBH	KB Home	428,891	$11,117	3.2%	$29.63	-4.1%	COM	48666K109
MTH	Meritage Homes Corp	137,600	$9,669	2.8%	$39.91	+1.4%	COM	59001A102
TPH	Tri Pointe Homes Inc	518,000	$7,827	2.3%	$19.61	-10.0%	COM	87265H109
—	IQIYI Inc	8,700,000	$7,606	2.2%	$0.72	—	NOTE 2.000% 04/01/25	46267XAD0
—	Carnival Corp	52,320	$5,808	1.7%	—	—	Put	14365C953
—	M D C Hldgs Inc	98,456	$2,700	0.8%	$32.31	—	COM	552676108
CCS	Century Cmntys Inc	57,534	$2,461	0.7%	$47.84	-3.8%	COM	156504300
—	Nio Inc	2,000,000	$1,750	0.5%	$0.84	—	NOTE 0.000% 02/01/26	62914VAE6