Waterfall Asset Management, LLC: 13F holdings, Q2 2026
Hedge fund · SEC EDGAR filings (CIK 1570717) · Explore on the interactive board
Waterfall Asset Management, LLC disclosed 18 US equity positions worth $163.4m in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 12, 2026). Its largest position is PENNYMAC CORP at 25.5% of the reported book, followed by AVBC, CPT. The top ten holdings are 80.2% of the book, and the portfolio behaves like about 9 equal-weight positions. Versus the prior filing it opened 3 new positions, added to 7, reduced 6 and exited 5. Note: this manager's most recent filing is 3934 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does Waterfall Asset Management, LLC own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 3 new, 7 added, 6 reduced, 5 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | PENNYMAC CORP | 25.5% | $41.7m | 41,022,000 | -31% | reduced | |
| 2 | AVBC AVALONBAY CMNTYS INC | Financial Services | 7.9% | $13.0m | 68,650 | -9% | reduced |
| 3 | CPT CAMDEN PPTY TR | Real Estate | 7.8% | $12.8m | 111,704 | -15% | reduced |
| 4 | MRP MILLROSE PPTYS INC | Real Estate | 7.7% | $12.5m | 417,361 | 28% | added |
| 5 | BRSP BRIGHTSPIRE CAPITAL INC | 6.9% | $11.3m | 2,076,586 | 41% | added | |
| 6 | RITM RITHM CAPITAL CORP | Real Estate | 6.5% | $10.6m | 1,127,584 | 10% | added |
| 7 | PK PARK HOTELS & RESORTS INC | Real Estate | 6.0% | $9.8m | 689,616 | 19% | added |
| 8 | RC READY CAPITAL CORP | 4.2% | $6.8m | 3,908,983 | 0% | held | |
| 9 | APLE APPLE HOSPITALITY REIT INC | Real Estate | 3.9% | $6.3m | 375,944 | -60% | reduced |
| 10 | FBRT FRANKLIN BSP RLTY TR INC | 3.8% | $6.2m | 758,000 | – | new | |
| 11 | DRH DIAMONDROCK HOSPITALITY CO | Real Estate | 3.4% | $5.6m | 456,804 | 9% | added |
| 12 | GNL GLOBAL NET LEASE INC | Real Estate | 3.1% | $5.1m | 570,029 | 43% | added |
| 13 | SERVICE PPTYS TR | 3.0% | $4.9m | 2,875,000 | – | new | |
| 14 | DX DYNEX CAP INC | Real Estate | 2.6% | $4.2m | 322,500 | 9% | added |
| 15 | ESRT EMPIRE ST RLTY TR INC | Real Estate | 2.3% | $3.7m | 689,535 | -3% | reduced |
| 16 | RITHM PPTY TR INC | 2.1% | $3.5m | 139,481 | 0% | held | |
| 17 | VNO VORNADO RLTY TR | Real Estate | 1.9% | $3.2m | 81,000 | -52% | reduced |
| 18 | PMT PENNYMAC MTG INVT TR | Real Estate | 1.4% | $2.3m | 199,682 | – | new |
What did Waterfall Asset Management, LLC sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| AAT AMERICAN ASSETS TR INC | 27.4% | $5.1m |
| IVT INVENTRUST PPTYS CORP | 26.8% | $5.0m |
| KREF KKR REAL ESTATE FIN TR INC | 16.3% | $3.1m |
| REDWOOD TRUST INC | 14.8% | $2.8m |
| LINE LINEAGE INC | 14.6% | $2.7m |
Sector mix
| Sector | Weight |
|---|---|
| Real Estate | 46.6% |
| Financial Services | 7.9% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
How concentrated is Waterfall Asset Management, LLC's portfolio?
Across every quarter Waterfall Asset Management, LLC has filed, its median largest position is 30.0% of the book and its median top-ten weight is 79.9%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 5.0 completed holding spells, the median lasted 1.0 quarters; 18.0 positions are still open and their final length is unknown.