Filed: 5/8/2026ACC: 0001570717-26-000004
📋 What this filing means
WATERFALL ASSET MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 20 equity positions with a total reported market value of $178.81M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
20
Positions
$178.81M
Total AUM (reported)
73.66M
Total Shares
Allocation by class
NOTE 8.500% 6/0$61.62M34.5%
COM$43.35M24.2%
COM NEW$29.25M16.4%
COM CL A$17.35M9.7%
SH BEN INT$17.29M9.7%
CL A$3.72M2.1%
9.875 FXD-FLT C$3.46M1.9%
Portfolio Concentration
Top 3$86.76M48.5%
4–10$55.45M31.0%
11–25$36.60M20.5%
Top 3 weight
48.5%
Top 10 weight
79.5%
Voting Authority Distribution
Total shares with voting rights: 11.46M
Sole
Full voting authority
11.46M
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)
Sole20
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings20
Rows:
PENNYMAC CORP
SOLEShares59.32M
TypePRN
Market value$61.62M
34.46%
Sole
0.00
Shared
0.00
None
0.00
CAMDEN PPTY TR
SOLEShares131.70K
TypeSH
Market value$12.86M
7.19%
Sole
131.70K
Shared
0.00
None
0.00
AVALONBAY CMNTYS INC
SOLEShares75.15K
TypeSH
Market value$12.28M
6.87%
Sole
75.15K
Shared
0.00
None
0.00
APPLE HOSPITALITY REIT INC
SOLEShares935.52K
TypeSH
Market value$10.77M
6.02%
Sole
935.52K
Shared
0.00
None
0.00
RITHM CAPITAL CORP
SOLEShares1.03M
TypeSH
Market value$9.73M
5.44%
Sole
1.03M
Shared
0.00
None
0.00
MILLROSE PPTYS INC
SOLEShares325.05K
TypeSH
Market value$9.10M
5.09%
Sole
325.05K
Shared
0.00
None
0.00
BRIGHTSPIRE CAPITAL INC
SOLEShares1.47M
TypeSH
Market value$8.25M
4.61%
Sole
1.47M
Shared
0.00
None
0.00
READY CAPITAL CORP
SOLEShares3.91M
TypeSH
Market value$6.33M
3.54%
Sole
3.91M
Shared
0.00
None
0.00
PARK HOTELS & RESORTS INC
SOLEShares581.64K
TypeSH
Market value$6.12M
3.43%
Sole
581.64K
Shared
0.00
None
0.00
AMERICAN ASSETS TR INC
SOLEShares279.32K
TypeSH
Market value$5.14M
2.88%
Sole
279.32K
Shared
0.00
None
0.00
INVENTRUST PPTYS CORP
SOLEShares164.96K
TypeSH
Market value$5.02M
2.81%
Sole
164.96K
Shared
0.00
None
0.00
VORNADO RLTY TR
SOLEShares170.50K
TypeSH
Market value$4.43M
2.48%
Sole
170.50K
Shared
0.00
None
0.00
DIAMONDROCK HOSPITALITY CO
SOLEShares417.79K
TypeSH
Market value$3.91M
2.19%
Sole
417.79K
Shared
0.00
None
0.00
DYNEX CAP INC
SOLEShares295K
TypeSH
Market value$3.76M
2.11%
Sole
295K
Shared
0.00
None
0.00
GLOBAL NET LEASE INC
SOLEShares397.61K
TypeSH
Market value$3.72M
2.08%
Sole
397.61K
Shared
0.00
None
0.00
EMPIRE ST RLTY TR INC
SOLEShares714.53K
TypeSH
Market value$3.72M
2.08%
Sole
714.53K
Shared
0.00
None
0.00
RITHM PPTY TR INC
SOLEShares139.48K
TypePRN
Market value$3.46M
1.94%
Sole
0.00
Shared
0.00
None
0.00
KKR REAL ESTATE FIN TR INC
SOLEShares475.15K
TypeSH
Market value$3.05M
1.71%
Sole
475.15K
Shared
0.00
None
0.00
REDWOOD TRUST INC
SOLEShares2.74M
TypePRN
Market value$2.78M
1.55%
Sole
0.00
Shared
0.00
None
0.00
LINEAGE INC
SOLEShares83.60K
TypeSH
Market value$2.74M
1.53%
Sole
83.60K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
PENNYMAC CORPSOLE | NOTE 8.500% 6/0 | 59.32M | PRN | $61.62M 34.46% | 0.00 | 0.00 | 0.00 |
CAMDEN PPTY TRSOLE | SH BEN INT | 131.70K | SH | $12.86M 7.19% | 131.70K | 0.00 | 0.00 |
AVALONBAY CMNTYS INCSOLE | COM | 75.15K | SH | $12.28M 6.87% | 75.15K | 0.00 | 0.00 |
APPLE HOSPITALITY REIT INCSOLE | COM NEW | 935.52K | SH | $10.77M 6.02% | 935.52K | 0.00 | 0.00 |
RITHM CAPITAL CORPSOLE | COM NEW | 1.03M | SH | $9.73M 5.44% | 1.03M | 0.00 | 0.00 |
MILLROSE PPTYS INCSOLE | COM CL A | 325.05K | SH | $9.10M 5.09% | 325.05K | 0.00 | 0.00 |
BRIGHTSPIRE CAPITAL INCSOLE | COM CL A | 1.47M | SH | $8.25M 4.61% | 1.47M | 0.00 | 0.00 |
READY CAPITAL CORPSOLE | COM | 3.91M | SH | $6.33M 3.54% | 3.91M | 0.00 | 0.00 |
PARK HOTELS & RESORTS INCSOLE | COM | 581.64K | SH | $6.12M 3.43% | 581.64K | 0.00 | 0.00 |
AMERICAN ASSETS TR INCSOLE | COM | 279.32K | SH | $5.14M 2.88% | 279.32K | 0.00 | 0.00 |
INVENTRUST PPTYS CORPSOLE | COM NEW | 164.96K | SH | $5.02M 2.81% | 164.96K | 0.00 | 0.00 |
VORNADO RLTY TRSOLE | SH BEN INT | 170.50K | SH | $4.43M 2.48% | 170.50K | 0.00 | 0.00 |
DIAMONDROCK HOSPITALITY COSOLE | COM | 417.79K | SH | $3.91M 2.19% | 417.79K | 0.00 | 0.00 |
DYNEX CAP INCSOLE | COM | 295K | SH | $3.76M 2.11% | 295K | 0.00 | 0.00 |
GLOBAL NET LEASE INCSOLE | COM NEW | 397.61K | SH | $3.72M 2.08% | 397.61K | 0.00 | 0.00 |
EMPIRE ST RLTY TR INCSOLE | CL A | 714.53K | SH | $3.72M 2.08% | 714.53K | 0.00 | 0.00 |
RITHM PPTY TR INCSOLE | 9.875 FXD-FLT C | 139.48K | PRN | $3.46M 1.94% | 0.00 | 0.00 | 0.00 |
KKR REAL ESTATE FIN TR INCSOLE | COM | 475.15K | SH | $3.05M 1.71% | 475.15K | 0.00 | 0.00 |
REDWOOD TRUST INCSOLE | NOTE 7.750% 6/1 | 2.74M | PRN | $2.78M 1.55% | 0.00 | 0.00 | 0.00 |
LINEAGE INCSOLE | COM | 83.60K | SH | $2.74M 1.53% | 83.60K | 0.00 | 0.00 |