Varde Management, L.P.

New York, NY · CIK 1559130 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2009 · limited partnership

$67.1m reported value +36.1% vs Q1 2026

4positions

100.0%in top 10

0 new 4 added 0 reduced 0 sold out vs Q1 2026

Options: 0 call positions (— notional), 1 put positions ($1.3m notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ZIFF DAVIS INC COM ZD	ZD	624,028	$32.7m48.70%	48.70%	Added +90.0k	+90,000 16.9%
2	SURGERY PARTNERS INC COM SGRY	SGRY	1,003,447	$16.9m25.12%	25.12%	Added +248.0k	+248,009 32.8%
3	ECHOSTAR CORP CL A ECHO	ECHO	159,400	$16.2m24.11%	24.11%	Added +12.0k	+12,000 8.1%
4	ZIPRECRUITER INC CL A ZIP	ZIP	371,456	$1.4m2.08%	2.08%	Added +23.9k	+23,929 6.9%

Underlying	Ticker	Type	Shares controlled	Notional	Change
TRUMP MEDIA & TECHNOLOGY GRO DJT · Put	DJT	Put	8,500	$1.3m8.5k shares	New