Varde Management, L.P.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Varde Management, L.P. reported 4 stock positions worth $75.2 million. Its top holding was Nabors Industries (NBR) at 79.5% of the portfolio, followed by Echostar Class A (ECHO, 14.1%) and Service Pptys TR (SVC, 4.9%). Compared with Q2 2025, it opened 2 new positions and sold out of 2. The biggest buy was a new position in Echostar Class A (ECHO) and the biggest sale an exit from Latam Airlines Group SA-ADR (LTM).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001559130
- Portfolio Value
- $75.2M (Q3 2025)
- SEC Filing
- 0001193125-25-282131 ↗ filed Nov 14, 2025
Holdings Value
Holdings 4 stocks · $75.2M
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 4 | $67.1M | ZD, SGRY, ECHO, ZIP |
| Q1 2026 | 4 | $49.3M | ZD, ECHO, SGRY, ZIP |
| Q4 2025 | 3 | $37.4M | ECHO, NBR, AHT |
| Q3 2025 | 4 | $75.2M | NBR, ECHO, SVC, AHT |
| Q2 2025 | 4 | $75.5M | NBR, LTM, TDW, AHT |
| Q1 2025 | 4 | $142.7M | LTM, NBR, AHT, TDW |
| Q4 2024 | 5 | $118.8M | LTM, OMF, VAL, TDW, ASHFORD HOSPITALITY TR INC |
| Q3 2024 | 3 | $117.5M | LTM, OMF, ASHFORD HOSPITALITY TR INC |
| Q2 2024 | 2 | $30.4M | OMF, ASHFORD HOSPITALITY TR INC |
| Q1 2024 | 2 | $43.0M | OMF, ASHFORD HOSPITALITY TR INC |