Varde Management, L.P. Quant / Systematic

CIK: 0001559130 · Show all filings

Period: Q4 2022 (← Previous) (Next →)

Filing Date: Feb 13, 2023

Total Value ($000): $242,161 (64.5% shares, 35.5% debt)

Holdings (10)

— IQIYI Inc 23.5%

Value ($000) $57,008 Shares 92,320,000 Est. Cost $0.72 Unrealized —

— VNET Group Inc 23.2%

Value ($000) $56,257 Shares 68,663,000 Est. Cost $0.77 Unrealized —

VICI VICI Pptys Inc 14.0%

Value ($000) $33,995 Shares 1,049,240 Est. Cost $23.15 Unrealized +16.5%

OMF OneMain Hlgs Inc 13.6%

Value ($000) $32,964 Shares 989,624 Est. Cost $30.95 Unrealized +14.6%

— Nio Inc 11.9%

Value ($000) $28,929 Shares 38,064,000 Est. Cost $0.81 Unrealized —

SDRL Seadrill 2021 Ltd 8.2%

Value ($000) $19,741 Shares 607,000 Est. Cost $30.69 Unrealized 0.0%

— Ashford Hospitality Tr Inc 4.0%

Value ($000) $9,729 Shares 2,176,453 Est. Cost $9.60 Unrealized —

— Carnival Corp 1.4%

Value ($000) $3,326 Shares 127,937 Est. Cost — Unrealized —

— Norwegian Cruise Line Hldg L 0.1%

Value ($000) $187 Shares 31,937 Est. Cost — Unrealized —

— Royal Caribbean Group 0.0%

Value ($000) $25 Shares 2,732 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	IQIYI Inc	92,320,000	$57,008	23.5%	$0.72	—	NOTE 4.000% 12/15/26	46267XAE8
—	VNET Group Inc	68,663,000	$56,257	23.2%	$0.77	—	NOTE 0.000% 02/01/26	90138VAB3
VICI	VICI Pptys Inc	1,049,240	$33,995	14.0%	$23.15	+16.5%	COM	925652109
OMF	OneMain Hlgs Inc	989,624	$32,964	13.6%	$30.95	+14.6%	COM	68268W103
—	Nio Inc	38,064,000	$28,929	11.9%	$0.81	—	NOTE 0.500% 02/01/27	62914VAF3
SDRL	Seadrill 2021 Ltd	607,000	$19,741	8.2%	$30.69	0.0%	COM	G7997W102
—	Ashford Hospitality Tr Inc	2,176,453	$9,729	4.0%	$9.60	—	COM SHS	044103869
—	Carnival Corp	127,937	$3,326	1.4%	—	—	Put	143658950
—	Norwegian Cruise Line Hldg L	31,937	$187	0.1%	—	—	Put	G66721954
—	Royal Caribbean Group	2,732	$25	0.0%	—	—	Put	V7780T953