Filed: 11/12/2025ACC: 0001570717-25-000005
📋 What this filing means
WATERFALL ASSET MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 18 equity positions with a total reported market value of $902.59M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
18
Positions
$902.59M
Total AUM (reported)
42.79M
Total Shares
Allocation by class
TR UNIT$800.68M88.7%
COM$35.98M4.0%
NOTE 7.750% 6/1$26.61M2.9%
COM NEW$16.71M1.9%
SH BEN INT$7.56M0.8%
NOTE 8.500% 6/0$6.05M0.7%
9.875 FXD-FLT C$5.51M0.6%
Portfolio Concentration
Top 3$842.42M93.3%
4–10$41.41M4.6%
11–25$18.76M2.1%
Top 3 weight
93.3%
Top 10 weight
97.9%
Voting Authority Distribution
Total shares with voting rights: 10.11M
Sole
Full voting authority
10.11M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole18
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings18
Rows:
SPDR S&P 500 ETF TR
SOLEShares1.20M
TypeSH
Market value$800.68M
88.71%
Sole
1.20M
Shared
0.00
None
0.00
REDWOOD TRUST INC
SOLEShares26.56M
TypePRN
Market value$26.61M
2.95%
Sole
0.00
Shared
0.00
None
0.00
READY CAPITAL CORP
SOLEShares3.91M
TypeSH
Market value$15.13M
1.68%
Sole
3.91M
Shared
0.00
None
0.00
APPLE HOSPITALITY REIT INC
SOLEShares730K
TypeSH
Market value$8.77M
0.97%
Sole
730K
Shared
0.00
None
0.00
AMERICAN ASSETS TR INC
SOLEShares314.64K
TypeSH
Market value$6.39M
0.71%
Sole
314.64K
Shared
0.00
None
0.00
LINEAGE INC
SOLEShares162.41K
TypeSH
Market value$6.28M
0.70%
Sole
162.41K
Shared
0.00
None
0.00
PENNYMAC CORP
SOLEShares5.90M
TypePRN
Market value$6.05M
0.67%
Sole
0.00
Shared
0.00
None
0.00
RITHM PPTY TR INC
SOLEShares218.61K
TypePRN
Market value$5.51M
0.61%
Sole
0.00
Shared
0.00
None
0.00
ELME COMMUNITIES
SOLEShares255.04K
TypeSH
Market value$4.30M
0.48%
Sole
255.04K
Shared
0.00
None
0.00
RITHM CAPITAL CORP
SOLEShares360.57K
TypeSH
Market value$4.11M
0.46%
Sole
360.57K
Shared
0.00
None
0.00
BRIGHTSPIRE CAPITAL INC
SOLEShares644.16K
TypeSH
Market value$3.50M
0.39%
Sole
644.16K
Shared
0.00
None
0.00
CAMDEN PPTY TR
SOLEShares30.50K
TypeSH
Market value$3.26M
0.36%
Sole
30.50K
Shared
0.00
None
0.00
GLOBAL NET LEASE INC
SOLEShares342.26K
TypeSH
Market value$2.78M
0.31%
Sole
342.26K
Shared
0.00
None
0.00
FRONTVIEW REIT INC
SOLEShares195K
TypeSH
Market value$2.67M
0.30%
Sole
195K
Shared
0.00
None
0.00
UDR INC
SOLEShares62K
TypeSH
Market value$2.31M
0.26%
Sole
62K
Shared
0.00
None
0.00
DYNEX CAP INC
SOLEShares150K
TypeSH
Market value$1.84M
0.20%
Sole
150K
Shared
0.00
None
0.00
PARK HOTELS & RESORTS INC
SOLEShares122.15K
TypeSH
Market value$1.35M
0.15%
Sole
122.15K
Shared
0.00
None
0.00
FLEXSHOPPER INC
SOLEShares1.63M
TypeSH
Market value$1.04M
0.12%
Sole
1.63M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRSOLE | TR UNIT | 1.20M | SH | $800.68M 88.71% | 1.20M | 0.00 | 0.00 |
REDWOOD TRUST INCSOLE | NOTE 7.750% 6/1 | 26.56M | PRN | $26.61M 2.95% | 0.00 | 0.00 | 0.00 |
READY CAPITAL CORPSOLE | COM | 3.91M | SH | $15.13M 1.68% | 3.91M | 0.00 | 0.00 |
APPLE HOSPITALITY REIT INCSOLE | COM NEW | 730K | SH | $8.77M 0.97% | 730K | 0.00 | 0.00 |
AMERICAN ASSETS TR INCSOLE | COM | 314.64K | SH | $6.39M 0.71% | 314.64K | 0.00 | 0.00 |
LINEAGE INCSOLE | COM | 162.41K | SH | $6.28M 0.70% | 162.41K | 0.00 | 0.00 |
PENNYMAC CORPSOLE | NOTE 8.500% 6/0 | 5.90M | PRN | $6.05M 0.67% | 0.00 | 0.00 | 0.00 |
RITHM PPTY TR INCSOLE | 9.875 FXD-FLT C | 218.61K | PRN | $5.51M 0.61% | 0.00 | 0.00 | 0.00 |
ELME COMMUNITIESSOLE | SH BEN INT | 255.04K | SH | $4.30M 0.48% | 255.04K | 0.00 | 0.00 |
RITHM CAPITAL CORPSOLE | COM NEW | 360.57K | SH | $4.11M 0.46% | 360.57K | 0.00 | 0.00 |
BRIGHTSPIRE CAPITAL INCSOLE | COM CL A | 644.16K | SH | $3.50M 0.39% | 644.16K | 0.00 | 0.00 |
CAMDEN PPTY TRSOLE | SH BEN INT | 30.50K | SH | $3.26M 0.36% | 30.50K | 0.00 | 0.00 |
GLOBAL NET LEASE INCSOLE | COM NEW | 342.26K | SH | $2.78M 0.31% | 342.26K | 0.00 | 0.00 |
FRONTVIEW REIT INCSOLE | COM | 195K | SH | $2.67M 0.30% | 195K | 0.00 | 0.00 |
UDR INCSOLE | COM | 62K | SH | $2.31M 0.26% | 62K | 0.00 | 0.00 |
DYNEX CAP INCSOLE | COM | 150K | SH | $1.84M 0.20% | 150K | 0.00 | 0.00 |
PARK HOTELS & RESORTS INCSOLE | COM | 122.15K | SH | $1.35M 0.15% | 122.15K | 0.00 | 0.00 |
FLEXSHOPPER INCSOLE | COM NEW | 1.63M | SH | $1.04M 0.12% | 1.63M | 0.00 | 0.00 |