Waterfall Asset Management, LLC
Annual return '25
+16.0%
SPY '25
+17.7%
Alpha
-1.8ptsvs SPY
Invested
$178.8M
Holdings
20
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 88%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$PMT 8.5 06/01/29
PENNYMAC CORP
Held since at least Q1 2024
34.5%
02
$CPT
CAMDEN PPTY TR
Held since at least Q1 2024
7.2%
03
$AVB
AVALONBAY CMNTYS INC
Held since at least Q1 2024
6.9%
04
$APLE
APPLE HOSPITALITY REIT INC
Held since at least Q1 2024
6.0%
05
$RITM
RITHM CAPITAL CORP
Q4 2024: New position (50.0k shares)
5.4%
06
$MRP
MILLROSE PPTYS INC
Q1 2026: New position (32.1k shares)
5.1%
07
$BRSP
BRIGHTSPIRE CAPITAL INC
Q1 2026: Increased +827.2% (96.8k → 897.5k shares)
4.6%
08
$RC
READY CAPITAL CORP
Q1 2026: Exited (was 87.0k shares)
3.5%
09
$PK
PARK HOTELS & RESORTS INC
Held since at least Q1 2024
3.4%
10
$AAT
AMERICAN ASSETS TR INC
Held since at least Q1 2024
2.9%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 12:10 UTC.