DOSSIER · 13F-HR · Q2 2026

Waterfall Asset Management, LLC

$163M in tracked AUM across 18 positions as of Q2 2026.

WA
CIK 0001570717 · last filed Jun 30, 2026
Total AUM
$163M
as of Q2 2026
Holdings
18
positions
Whale Score
74
74
strong
Activity
no data
changes this Q
AI Analysis · Q2 2026
Portfolio Overview

Waterfall Asset Management, LLC has reported a dramatic expansion in its 13F portfolio for the period ending September 30, 2025. The total portfolio value surged by 291.2%, rising from $225.52M to $882.19M. This substantial increase in AUM suggests significant capital inflows or a strategic shift toward deploying capital into public equities during this quarter.

The portfolio is exceptionally concentrated, consisting of only 12 holdings. Unlike typical ins...

Key Holdings

The portfolio is defined by a massive "core" holding in SPY ($800.68M), which accounts for nearly the entire fund's value. The remaining 9.24% of the portfolio is distributed among 11 specific financial services and real estate names.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
PMT 8.5 06/01/29
PENNYMAC CORP
$42M41.0M25.5%
02
AVB
AVALONBAY CMNTYS INC
$13M69K7.9%
03
CPT
CAMDEN PPTY TR
$13M112K7.8%
04
MRP
MILLROSE PPTYS INC
$13M417K7.7%
05
BRSP
BRIGHTSPIRE CAPITAL INC
$11M2.1M6.9%
06
RITM
RITHM CAPITAL CORP
$11M1.1M6.5%
07
PK
PARK HOTELS & RESORTS INC
$10M690K6.0%
08
RC
READY CAPITAL CORP
$7M3.9M4.2%
09
APLE
APPLE HOSPITALITY REIT INC
$6M376K3.9%
10
FBRT
FRANKLIN BSP RLTY TR INC
$6M758K3.8%

Filing history

2026Q2Jun 30
$163M 8.6%
18 positionsView →
2026Q1Mar 31
$179M 3.8%
20 positionsView →
2025Q4Dec 31
$186M 78.9%
17 positionsView →
2025Q3Sep 30
$882M 291.2%
12 positionsView →
2025Q2Jun 30
$226M 19.1%
12 positionsLocked
2025Q1Mar 31
$189M 71.4%
6 positionsLocked
2024Q4Dec 31
$662M 24.9%
5 positionsLocked
2024Q3Sep 30
$881M 510.4%
6 positionsLocked
2024Q2Jun 30
$144M 0.9%
21 positionsLocked
2024Q1Mar 31
$146M 17.6%
5 positionsLocked
2023Q4Dec 31
$177M
7 positionsLocked