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Waterfall Asset Management, LLC

1251 AVENUE OF THE AMERICAS, 50TH FLOOR, NEW YORK, NY 10020 • (212) 257-4600

Q3 2025 · Filed 2025-11-12
Market Value
$64M
+102.8%
Holdings
14
+6
New Purchases
6
Added To
6
Closed
0
Reduced
0
Top 10 Concentration
89.7%
Turnover
42.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAT 10.03% 0.00% +10.03% $6M
LINE 9.85% 0.00% +9.85% $6M
CPT 5.11% 0.00% +5.11% $3M
FVR 4.19% 0.00% +4.19% $3M
UDR 3.62% 0.00% +3.62% $2M
DX 2.89% 0.00% +2.89% $2M
BRSP 5.49% 3.18% +2.31% $3M
RITM-PD 6.46% 4.80% +1.66% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
RC 23.73% 54.35% -30.61% $15M
FPAY 1.64% 6.22% -4.58% $1M
WRE 6.75% 8.22% -1.47% $4M
PK 2.12% 3.58% -1.46% $1M
APLE 13.75% 14.85% -1.10% $9M
GNL 4.37% 4.80% -0.44% $3M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Real Estate 100.0%

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 3 $10M 15.2%
Mid Cap 3 $16M 25.7%
Small Cap 6 $21M 33.7%
Micro Cap 2 $16M 25.4%

Portfolio Analytics

Avg Market Cap
$4.3B
Median Market Cap
$2.0B
Avg P/E
25.6
Median P/E
22.6
Avg Dividend Yield
0.60%
Avg Beta
1.04
# Stocks
14
# ETFs / Funds
0

Top Holdings (14 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 RC 23.73% 3,908,983 $15M $3.87 -$2M
2 APLE 13.75% 730,000 $9M $12.01 $4M +330,000 +82.5%
3 AAT 10.03% 314,643 $6M $20.32 +314,643 NEW
4 LINE 9.85% 162,409 $6M $38.64 +162,409 NEW
5 WRE 6.75% 255,041 $4M $16.86 $2M +92,244 +56.7%
6 RITM-PD 6.46% 360,573 $4M $11.41 $3M +226,859 +169.7%
7 BRSP 5.49% 644,158 $3M $5.43 $2M +446,358 +225.7%
8 CPT 5.11% 30,500 $3M $106.78 +30,500 NEW
9 GNL 4.37% 342,259 $3M $8.13 $1M +142,259 +71.1%
10 FVR 4.19% 195,000 $3M $13.71 +195,000 NEW
11 UDR 3.62% 62,000 $2M $37.26 +62,000 NEW
12 DX 2.89% 150,000 $2M $12.28 +150,000 NEW
13 PK 2.12% 122,153 $1M $11.08 $228K +12,153 +11.1%
14 FPAY 1.64% 1,629,544 $1M $0.64 -$911K

Options Breakdown

0 Calls $0 Call Value 1 Puts $801M Put Value

Top Puts

SymbolSharesValueStatus
SPY 1,201,900 $801M

New Positions

SymbolValue% Port
AAT $6M 10.03%
LINE $6M 9.85%
CPT $3M 5.11%
FVR $3M 4.19%
UDR $2M 3.62%
DX $2M 2.89%
View SEC EDGAR Filings for Waterfall Asset Management, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms