Filed: 8/12/2025ACC: 0001752724-25-186395
📋 What this filing means
WATERFALL ASSET MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 12 equity positions with a total reported market value of $225.52M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
12
Positions
$225.52M
Total AUM (reported)
53.96M
Total Shares
Allocation by class
TR UNIT$142.11M63.0%
NOTE 8.500% 6/0$26.04M11.5%
NOTE 7.750% 6/1$20.48M9.1%
COM$18.21M8.1%
COM NEW$9.64M4.3%
9.875 FXD-FLT C$5.46M2.4%
SH BEN INT$2.58M1.1%
Portfolio Concentration
Top 3$188.62M83.6%
4–10$34.77M15.4%
11–25$2.12M0.9%
Top 3 weight
83.6%
Top 10 weight
99.1%
Voting Authority Distribution
Total shares with voting rights: 6.97M
Sole
Full voting authority
6.97M
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)
Sole12
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings12
Rows:
SPDR S&P 500 ETF TR
SOLEShares230K
TypeSH
Market value$142.11M
63.01%
Sole
230K
Shared
0.00
None
0.00
PENNYMAC CORP
SOLEShares26.05M
TypePRN
Market value$26.04M
11.55%
Sole
0.00
Shared
0.00
None
0.00
REDWOOD TRUST INC
SOLEShares20.72M
TypePRN
Market value$20.48M
9.08%
Sole
0.00
Shared
0.00
None
0.00
READY CAPITAL CORP
SOLEShares3.91M
TypeSH
Market value$17.08M
7.57%
Sole
3.91M
Shared
0.00
None
0.00
RITHM PPTY TR INC
SOLEShares218.61K
TypePRN
Market value$5.46M
2.42%
Sole
0.00
Shared
0.00
None
0.00
APPLE HOSPITALITY REIT INC
SOLEShares400K
TypeSH
Market value$4.67M
2.07%
Sole
400K
Shared
0.00
None
0.00
ELME COMMUNITIES
SOLEShares162.80K
TypeSH
Market value$2.58M
1.15%
Sole
162.80K
Shared
0.00
None
0.00
FLEXSHOPPER INC
SOLEShares1.63M
TypeSH
Market value$1.96M
0.87%
Sole
1.63M
Shared
0.00
None
0.00
GLOBAL NET LEASE INC
SOLEShares200K
TypeSH
Market value$1.51M
0.67%
Sole
200K
Shared
0.00
None
0.00
RITHM CAPITAL CORP
SOLEShares133.71K
TypeSH
Market value$1.51M
0.67%
Sole
133.71K
Shared
0.00
None
0.00
PARK HOTELS & RESORTS INC
SOLEShares110K
TypeSH
Market value$1.13M
0.50%
Sole
110K
Shared
0.00
None
0.00
BRIGHTSPIRE CAPITAL INC
SOLEShares197.80K
TypeSH
Market value$998.9K
0.44%
Sole
197.80K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRSOLE | TR UNIT | 230K | SH | $142.11M 63.01% | 230K | 0.00 | 0.00 |
PENNYMAC CORPSOLE | NOTE 8.500% 6/0 | 26.05M | PRN | $26.04M 11.55% | 0.00 | 0.00 | 0.00 |
REDWOOD TRUST INCSOLE | NOTE 7.750% 6/1 | 20.72M | PRN | $20.48M 9.08% | 0.00 | 0.00 | 0.00 |
READY CAPITAL CORPSOLE | COM | 3.91M | SH | $17.08M 7.57% | 3.91M | 0.00 | 0.00 |
RITHM PPTY TR INCSOLE | 9.875 FXD-FLT C | 218.61K | PRN | $5.46M 2.42% | 0.00 | 0.00 | 0.00 |
APPLE HOSPITALITY REIT INCSOLE | COM NEW | 400K | SH | $4.67M 2.07% | 400K | 0.00 | 0.00 |
ELME COMMUNITIESSOLE | SH BEN INT | 162.80K | SH | $2.58M 1.15% | 162.80K | 0.00 | 0.00 |
FLEXSHOPPER INCSOLE | COM NEW | 1.63M | SH | $1.96M 0.87% | 1.63M | 0.00 | 0.00 |
GLOBAL NET LEASE INCSOLE | COM NEW | 200K | SH | $1.51M 0.67% | 200K | 0.00 | 0.00 |
RITHM CAPITAL CORPSOLE | COM NEW | 133.71K | SH | $1.51M 0.67% | 133.71K | 0.00 | 0.00 |
PARK HOTELS & RESORTS INCSOLE | COM | 110K | SH | $1.13M 0.50% | 110K | 0.00 | 0.00 |
BRIGHTSPIRE CAPITAL INCSOLE | COM CL A | 197.80K | SH | $998.9K 0.44% | 197.80K | 0.00 | 0.00 |