Varde Management, L.P. Quant / Systematic

Location: New York, NY

CIK: 0001559130 · Show all filings

Period: Q3 2022 (← Previous) (Next →)

Filing Date: Nov 9, 2022

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

Holdings (14)

VICI VICI Pptys Inc 26.8%

Value $92.94M Shares 3,113,586 Est. Cost $23.15 Unrealized +18.3%

— IQIYI Inc 17.7%

Value $61.52M Shares 92,320,000 Est. Cost $0.72 Unrealized —

— VNET Group Inc 16.6%

Value $57.52M Shares 68,663,000 Est. Cost $0.77 Unrealized —

— Nio Inc 12.1%

Value $42.1M Shares 55,277,000 Est. Cost $0.81 Unrealized —

OMF OneMain Hlgs Inc 8.4%

Value $29.21M Shares 989,624 Est. Cost $30.95 Unrealized +19.0%

— Ashford Hospitality Tr Inc 4.3%

Value $14.82M Shares 2,176,453 Est. Cost $9.60 Unrealized —

KBH KB Home 3.2%

Value $11.12M Shares 428,891 Est. Cost $29.63 Unrealized -4.1%

MTH Meritage Homes Corp 2.8%

Value $9.669M Shares 137,600 Est. Cost $39.91 Unrealized +1.4%

TPH Tri Pointe Homes Inc 2.3%

Value $7.827M Shares 518,000 Est. Cost $19.61 Unrealized -10.0%

— IQIYI Inc 2.2%

Value $7.606M Shares 8,700,000 Est. Cost $0.72 Unrealized —

— Carnival Corp 1.7%

Value $5.808M Shares 52,320 Est. Cost — Unrealized —

— M D C Hldgs Inc 0.8%

Value $2.7M Shares 98,456 Est. Cost $32.31 Unrealized —

CCS Century Cmntys Inc 0.7%

Value $2.461M Shares 57,534 Est. Cost $47.84 Unrealized -3.8%

— Nio Inc 0.5%

Value $1.75M Shares 2,000,000 Est. Cost $0.84 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VICI	VICI Pptys Inc	3,113,586	$92.94M	26.8%	$23.15	+18.3%	COM	925652109
—	IQIYI Inc	92,320,000	$61.52M	17.7%	$0.72	—	NOTE 4.000% 12/15/26	46267XAE8
—	VNET Group Inc	68,663,000	$57.52M	16.6%	$0.77	—	NOTE 0.000% 02/01/26	90138VAB3
—	Nio Inc	55,277,000	$42.1M	12.1%	$0.81	—	NOTE 0.500% 02/01/27	62914VAF3
OMF	OneMain Hlgs Inc	989,624	$29.21M	8.4%	$30.95	+19.0%	COM	68268W103
—	Ashford Hospitality Tr Inc	2,176,453	$14.82M	4.3%	$9.60	—	COM SHS	044103869
KBH	KB Home	428,891	$11.12M	3.2%	$29.63	-4.1%	COM	48666K109
MTH	Meritage Homes Corp	137,600	$9.669M	2.8%	$39.91	+1.4%	COM	59001A102
TPH	Tri Pointe Homes Inc	518,000	$7.827M	2.3%	$19.61	-10.0%	COM	87265H109
—	IQIYI Inc	8,700,000	$7.606M	2.2%	$0.72	—	NOTE 2.000% 04/01/25	46267XAD0
—	Carnival Corp	52,320	$5.808M	1.7%	—	—	Put	14365C953
—	M D C Hldgs Inc	98,456	$2.7M	0.8%	$32.31	—	COM	552676108
CCS	Century Cmntys Inc	57,534	$2.461M	0.7%	$47.84	-3.8%	COM	156504300
—	Nio Inc	2,000,000	$1.75M	0.5%	$0.84	—	NOTE 0.000% 02/01/26	62914VAE6