Waterfall Asset Management, LLC Top Holdings and 13F Report (2025) About Waterfall Asset Management, LLCInvestment ActivityWaterfall Asset Management, LLC has $163.43 million in total holdings as of June 30, 2025.Waterfall Asset Management, LLC owns shares of 18 different stocks, but just 10 companies or ETFs make up 80% of its holdings.Approximately 14.82% of the portfolio was purchased this quarter.About 32.99% of the portfolio was sold this quarter.This quarter, Waterfall Asset Management, LLC has purchased 20 new stocks and bought additional shares in 7 stocks.Waterfall Asset Management, LLC sold shares of 6 stocks and completely divested from 5 stocks this quarter.Largest Holdings PENNYMAC CORP $41,690,232AvalonBay Communities $12,953,569Camden Property Trust $12,788,991MILLROSE PPTYS INC $12,541,698BrightSpire Capital $11,317,394 Largest New Holdings this Quarter 35243J101 - Franklin BSP Realty Trust $6,170,120 Holding81761L102 - Service Properties Trust $4,858,750 Holding70931T103 - PennyMac Mortgage Investment Trust $2,252,413 Holding Largest Purchases this Quarter Franklin BSP Realty Trust 758,000 shares (about $6.17M)Service Properties Trust 2,875,000 shares (about $4.86M)BrightSpire Capital 603,796 shares (about $3.29M)MILLROSE PPTYS INC 92,315 shares (about $2.77M)PennyMac Mortgage Investment Trust 199,682 shares (about $2.25M) Largest Sales this Quarter PENNYMAC CORP 18,297,000 shares (about $18.60M)Apple Hospitality REIT 559,572 shares (about $9.41M)Vornado Realty Trust 89,500 shares (about $3.52M)Camden Property Trust 20,000 shares (about $2.29M)AvalonBay Communities 6,500 shares (about $1.23M) Sector Allocation Over TimeMap of 500 Largest Holdings ofWaterfall Asset Management, LLC Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorPENNYMAC CORP$41,690,232$18,595,051 â–¼-30.8%41,022,00025.5%NOTE 8.500% 6/0AVBAvalonBay Communities$12,953,569$1,226,485 â–¼-8.6%68,6507.9%Real EstateCPTCamden Property Trust$12,788,991$2,289,800 â–¼-15.2%111,7047.8%Real EstateMILLROSE PPTYS INC$12,541,698$2,774,066 â–²28.4%417,3617.7%COM CL ABRSPBrightSpire Capital$11,317,394$3,290,688 â–²41.0%2,076,5866.9%FinanceRITMRithm Capital$10,587,464$950,031 â–²9.9%1,127,5846.5%FinancePKPark Hotels & Resorts$9,827,028$1,538,615 â–²18.6%689,6166.0%Real EstateRCReady Capital$6,840,7200.0%3,908,9834.2%FinanceAPLEApple Hospitality REIT$6,319,619$9,406,406 â–¼-59.8%375,9443.9%Real EstateFBRTFranklin BSP Realty Trust$6,170,120$6,170,120 â–²New Holding758,0003.8%FinanceDRHDiamondRock Hospitality$5,563,873$475,203 â–²9.3%456,8043.4%Real EstateGNLGlobal Net Lease$5,096,059$1,541,435 â–²43.4%570,0293.1%Real EstateSVCService Properties Trust$4,858,750$4,858,750 â–²New Holding2,875,0003.0%Real EstateDXDynex Capital$4,227,975$360,525 â–²9.3%322,5002.6%FinanceESRTEmpire State Realty Trust$3,730,384$135,250 â–¼-3.5%689,5352.3%Real EstateRITHM PPTY TR INC$3,475,6520.0%139,4812.1%9.875 FXD-FLT CVNOVornado Realty Trust$3,183,300$3,517,350 â–¼-52.5%81,0001.9%Real EstatePMTPennyMac Mortgage Investment Trust$2,252,413$2,252,413 â–²New Holding199,6821.4%FinanceAATAmerican Assets Trust$0$5,142,336 â–¼-100.0%00.0%Real EstateIVTInvenTrust Properties$0$5,024,743 â–¼-100.0%00.0%Real EstateKREFKKR Real Estate Finance Trust$0$3,052,794 â–¼-100.0%00.0%FinanceREDWOOD TRUST INC$0$2,777,388 â–¼-100.0%00.0%NOTE 7.750% 6/1LINEAGE INC$0$2,738,736 â–¼-100.0%00.0%COMShowing largest 100 holdings. View all holdings. More Institutional Buying and Selling Information SEC Filings and Trading Data SEC Filings 13F Filings Top 13F Buys Top 13F Sells Unlock superior investment research and tools. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools and reports. Get MarketBeat All Access MarketBeat All Access Features Best-in-Class Portfolio Monitoring Get personalized stock ideas. Compare portfolio to indices. Check stock news, ratings, SEC filings, and more. Stock Ideas and Recommendations See daily stock ideas from top analysts. Receive short-term trading ideas from MarketBeat. Identify trending stocks on social media. Advanced Stock Screeners and Research Tools Use our seven stock screeners to find suitable stocks. Stay informed with MarketBeat's real-time news. Export data to Excel for personal analysis. Sign in to your free account to enjoy these benefits In-depth profiles and analysis for 20,000 public companies. 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