Waterfall Asset Management, LLC
13F Reported Value
ⓘ$178.8M
Holdings
20
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Waterfall Asset Management, LLC disclosed 20 positions worth $178.8M in its Form 13F-HR for Q1 2026, followed by $CPT and $AVB. During the quarter the fund opened 6 new positions and exited 3 — including a new stake in $IVT and a full exit from $NSA. The portfolio is most concentrated in Real Estate (60.2% of disclosed assets). All figures are sourced directly from Waterfall Asset Management, LLC’s Form 13F-HR filing with the SEC under CIK 1570717.
AI Fund Analysis
DiversifyingSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q1 2026
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PENNYMAC CORP
—Quality
$61.6M59,319,000 sh- 69.4#367
Quality
$12.9M131,704 sh - 57.5#1,034
Quality
$12.3M75,150 sh - 59.5
Quality
$10.8M935,516 sh - 52.0
Quality
$9.7M1,026,404 sh - 77.2
Quality
$9.1M325,046 sh - 36.3
Quality
$8.2M1,472,790 sh - —
Quality
$6.3M3,908,983 sh - 40.3
Quality
$6.1M581,643 sh - 54.1
Quality
$5.1M279,323 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| PENNYMAC CORP | — | $61.6M | 59,319,000 |
 CAMDEN PROPERTY TRUST$CPT | 69.4#367 | $12.9M | 131,704 |
 AVALONBAY COMMUNITIES INC$AVB | 57.5#1,034 | $12.3M | 75,150 |
 Apple Hospitality REIT, Inc.$APLE | 59.5 | $10.8M | 935,516 |
 Rithm Capital Corp.$RITM | 52.0 | $9.7M | 1,026,404 |
 Millrose Properties, Inc.$MRP | 77.2 | $9.1M | 325,046 |
 BrightSpire Capital, Inc.$BRSP | 36.3 | $8.2M | 1,472,790 |
 Ready Capital Corp$RC | — | $6.3M | 3,908,983 |
 Park Hotels & Resorts Inc.$PK | 40.3 | $6.1M | 581,643 |
 American Assets Trust, Inc.$AAT | 54.1 | $5.1M | 279,323 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Waterfall Asset Management, LLC's 20 positions.
Showing top 10 of 20 holdings.
Sector Allocation
Real Estate
$107.6M
Other
$65.1M
Consumer Discretionary
$6.1M
Full Holdings — Waterfall Asset Management, LLC (Q1 2026)
All 20 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | — | PENNYMAC CORP | $61.6M | 34.5% | -25% | — |
| 2 | $CPT | CAMDEN PROPERTY TRUST | $12.9M | 7.2% | +23% | 69.4 |
| 3 | $AVB | AVALONBAY COMMUNITIES INC | $12.3M | 6.9% | +18% | 57.5 |
| 4 | $APLE | Apple Hospitality REIT, Inc. | $10.8M | 6.0% | +6% | 59.5 |
| 5 | $RITM | Rithm Capital Corp. | $9.7M | 5.4% | +47% | 52 |
| 6 | $MRP | Millrose Properties, Inc. | $9.1M | 5.1% | +209% | 77.2 |
| 7 | $BRSP | BrightSpire Capital, Inc. | $8.2M | 4.6% | +79% | 36.3 |
| 8 | $RC | Ready Capital Corp | $6.3M | 3.5% | +0% | — |
| 9 | $PK | Park Hotels & Resorts Inc. | $6.1M | 3.4% | +58% | 40.3 |
| 10 | $AAT | American Assets Trust, Inc. | $5.1M | 2.9% | -31% | 54.1 |
| 11 |  $IVT | InvenTrust Properties Corp. | $5.0M | 2.8% | NEW | 54.5 |
| 12 |  $VNO | VORNADO REALTY TRUST | $4.4M | 2.5% | NEW | 69.1 |
| 13 |  $DRH | DiamondRock Hospitality Co | $3.9M | 2.2% | NEW | 58 |
| 14 |  $DX | DYNEX CAPITAL INC | $3.8M | 2.1% | +6% | — |
| 15 |  $GNL | Global Net Lease, Inc. | $3.7M | 2.1% | -6% | 39.5 |
| 16 |  $ESRT | Empire State Realty Trust, Inc. | $3.7M | 2.1% | NEW | 37.2 |
| 17 | — | RITHM PPTY TR INC | $3.5M | 1.9% | NEW | — |
| 18 |  $KREF | KKR Real Estate Finance Trust Inc. | $3.1M | 1.7% | NEW | — |
| 19 |  $RWT | REDWOOD TRUST INC | $2.8M | 1.6% | -69% | — |
| 20 |  $LINE | Lineage, Inc. | $2.7M | 1.5% | -20% | 37.5 |
New Positions (6)
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