Filed: 2/13/2026ACC: 0001570717-26-000001
📋 What this filing means
WATERFALL ASSET MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 17 equity positions with a total reported market value of $185.84M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
17
Positions
$185.84M
Total AUM (reported)
97.04M
Total Shares
Allocation by class
NOTE 8.500% 6/0$79.67M42.9%
COM$47.61M25.6%
COM NEW$21.80M11.7%
SH BEN INT$11.80M6.4%
NOTE 7.750% 6/1$8.75M4.7%
COM SHS BEN IN$8.42M4.5%
COM CL A$7.79M4.2%
Portfolio Concentration
Top 3$103.12M55.5%
4–10$57.09M30.7%
11–25$25.63M13.8%
Top 3 weight
55.5%
Top 10 weight
86.2%
Voting Authority Distribution
Total shares with voting rights: 9.22M
Sole
Full voting authority
9.22M
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)
Sole17
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings17
Rows:
PENNYMAC CORP
SOLEShares79.07M
TypePRN
Market value$79.67M
42.87%
Sole
0.00
Shared
0.00
None
0.00
CAMDEN PPTY TR
SOLEShares107K
TypeSH
Market value$11.80M
6.35%
Sole
107K
Shared
0.00
None
0.00
AVALONBAY CMNTYS INC
SOLEShares63.80K
TypeSH
Market value$11.65M
6.27%
Sole
63.80K
Shared
0.00
None
0.00
APPLE HOSPITALITY REIT INC
SOLEShares882.13K
TypeSH
Market value$10.49M
5.65%
Sole
882.13K
Shared
0.00
None
0.00
REDWOOD TRUST INC
SOLEShares8.74M
TypePRN
Market value$8.75M
4.71%
Sole
0.00
Shared
0.00
None
0.00
READY CAPITAL CORP
SOLEShares3.91M
TypeSH
Market value$8.48M
4.56%
Sole
3.91M
Shared
0.00
None
0.00
NATIONAL STORAGE AFFILIATES
SOLEShares297.70K
TypeSH
Market value$8.42M
4.53%
Sole
297.70K
Shared
0.00
None
0.00
AMERICAN ASSETS TR INC
SOLEShares406.03K
TypeSH
Market value$7.70M
4.15%
Sole
406.03K
Shared
0.00
None
0.00
RITHM CAPITAL CORP
SOLEShares700.42K
TypeSH
Market value$7.68M
4.13%
Sole
700.42K
Shared
0.00
None
0.00
APOLLO COML REAL EST FIN INC
SOLEShares569K
TypeSH
Market value$5.56M
2.99%
Sole
569K
Shared
0.00
None
0.00
BRIGHTSPIRE CAPITAL INC
SOLEShares822.81K
TypeSH
Market value$4.65M
2.50%
Sole
822.81K
Shared
0.00
None
0.00
PARK HOTELS & RESORTS INC
SOLEShares367.68K
TypeSH
Market value$3.89M
2.09%
Sole
367.68K
Shared
0.00
None
0.00
DYNEX CAP INC
SOLEShares277.30K
TypeSH
Market value$3.88M
2.09%
Sole
277.30K
Shared
0.00
None
0.00
LINEAGE INC
SOLEShares105K
TypeSH
Market value$3.69M
1.99%
Sole
105K
Shared
0.00
None
0.00
GLOBAL NET LEASE INC
SOLEShares422.23K
TypeSH
Market value$3.63M
1.95%
Sole
422.23K
Shared
0.00
None
0.00
MILLROSE PPTYS INC
SOLEShares105.06K
TypeSH
Market value$3.14M
1.69%
Sole
105.06K
Shared
0.00
None
0.00
FRONTVIEW REIT INC
SOLEShares184.20K
TypeSH
Market value$2.75M
1.48%
Sole
184.20K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
PENNYMAC CORPSOLE | NOTE 8.500% 6/0 | 79.07M | PRN | $79.67M 42.87% | 0.00 | 0.00 | 0.00 |
CAMDEN PPTY TRSOLE | SH BEN INT | 107K | SH | $11.80M 6.35% | 107K | 0.00 | 0.00 |
AVALONBAY CMNTYS INCSOLE | COM | 63.80K | SH | $11.65M 6.27% | 63.80K | 0.00 | 0.00 |
APPLE HOSPITALITY REIT INCSOLE | COM NEW | 882.13K | SH | $10.49M 5.65% | 882.13K | 0.00 | 0.00 |
REDWOOD TRUST INCSOLE | NOTE 7.750% 6/1 | 8.74M | PRN | $8.75M 4.71% | 0.00 | 0.00 | 0.00 |
READY CAPITAL CORPSOLE | COM | 3.91M | SH | $8.48M 4.56% | 3.91M | 0.00 | 0.00 |
NATIONAL STORAGE AFFILIATESSOLE | COM SHS BEN IN | 297.70K | SH | $8.42M 4.53% | 297.70K | 0.00 | 0.00 |
AMERICAN ASSETS TR INCSOLE | COM | 406.03K | SH | $7.70M 4.15% | 406.03K | 0.00 | 0.00 |
RITHM CAPITAL CORPSOLE | COM NEW | 700.42K | SH | $7.68M 4.13% | 700.42K | 0.00 | 0.00 |
APOLLO COML REAL EST FIN INCSOLE | COM | 569K | SH | $5.56M 2.99% | 569K | 0.00 | 0.00 |
BRIGHTSPIRE CAPITAL INCSOLE | COM CL A | 822.81K | SH | $4.65M 2.50% | 822.81K | 0.00 | 0.00 |
PARK HOTELS & RESORTS INCSOLE | COM | 367.68K | SH | $3.89M 2.09% | 367.68K | 0.00 | 0.00 |
DYNEX CAP INCSOLE | COM | 277.30K | SH | $3.88M 2.09% | 277.30K | 0.00 | 0.00 |
LINEAGE INCSOLE | COM | 105K | SH | $3.69M 1.99% | 105K | 0.00 | 0.00 |
GLOBAL NET LEASE INCSOLE | COM NEW | 422.23K | SH | $3.63M 1.95% | 422.23K | 0.00 | 0.00 |
MILLROSE PPTYS INCSOLE | COM CL A | 105.06K | SH | $3.14M 1.69% | 105.06K | 0.00 | 0.00 |
FRONTVIEW REIT INCSOLE | COM | 184.20K | SH | $2.75M 1.48% | 184.20K | 0.00 | 0.00 |