AI Portfolio Summary
In 2025 Q4, Waterfall Asset Management, LLC maintained a portfolio of 22 distinct positions. The most significant new addition to the portfolio was AVALONBAY CMNTYS INC, which now represents 6.27% of the total fund value. They heavily accumulated shares in PENNYMAC CORP, increasing their position by 1240.0%. Conversely, Waterfall Asset Management, LLC completely exited their position in SPDR S&P 500 ETF TR.
Total Positions
22
Quarter
2025 Q4
Top Holding
N/A (42.9%)
Top 10 Concentration
86.2%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-22 of 22
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
N/A
PENNYMAC CORP
|
—
|
Bond/Debt | 42.87% | 0.67% |
#1
6
Prev: #7
|
10.0 | 73,173,000 | 1240.0% |
P
S
|
79,074,000 | $79,667,055 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
CPT
CAMDEN PPTY TR
|
Bond/Debt | 6.35% | 0.36% |
#2
10
Prev: #12
|
4.8 | 76,500 | 250.8% |
P
S
|
107,000 | $11,803,379 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AVB
AVALONBAY CMNTY...
|
Real Estate | 6.27% | — |
#3
Prev: #—
|
4.5 | 63,800 | no change |
NEW
|
63,800 | $11,652,902 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
APLE
APPLE HOSPITALI...
|
Real Estate | 5.65% | 0.97% |
#4
Prev: #4
|
4.3 | 152,127 | 20.8% |
P
S
|
882,127 | $10,492,051 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
N/A
REDWOOD TRUST I...
|
—
|
Bond/Debt | 4.71% | 2.95% |
#5
3
Prev: #2
|
2.1 | -17,820,000 | -67.1% |
P
S
|
8,743,000 | $8,748,232 | — | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | ||
|
RC
READY CAPITAL C...
|
Real Estate | 4.56% | 1.68% |
#6
3
Prev: #3
|
1.8 | no change | no change |
P
S
|
3,908,983 | $8,482,493 | 2023 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NSA
NATIONAL STORAG...
|
Real Estate | 4.53% | — |
#7
Prev: #—
|
3.8 | 297,700 | no change |
NEW
|
297,700 | $8,422,943 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AAT
AMERICAN ASSETS...
|
Real Estate | 4.15% | 0.71% |
#8
3
Prev: #5
|
3.7 | 91,390 | 29.0% |
P
S
|
406,033 | $7,703,901 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RITM
RITHM CAPITAL C...
|
Real Estate | 4.13% | 0.46% |
#9
1
Prev: #10
|
3.9 | 339,852 | 94.3% |
P
S
|
700,425 | $7,678,946 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ARI
APOLLO COML REA...
|
Real Estate | 2.99% | — |
#10
Prev: #—
|
3.2 | 569,000 | no change |
NEW
|
569,000 | $5,557,451 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BRSP
BRIGHTSPIRE CAP...
|
Real Estate | 2.50% | 0.39% |
#11
Prev: #11
|
3.1 | 178,652 | 27.7% |
P
S
|
822,810 | $4,650,327 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PK
PARK HOTELS & R...
|
Real Estate | 2.09% | 0.15% |
#12
5
Prev: #17
|
3.1 | 245,531 | 201.0% |
P
S
|
367,684 | $3,889,607 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
DX
DYNEX CAP INC
|
Real Estate | 2.09% | 0.20% |
#13
3
Prev: #16
|
3.1 | 127,300 | 84.9% |
P
S
|
277,300 | $3,875,919 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LINE
LINEAGE INC
|
Real Estate | 1.99% | 0.70% |
#14
8
Prev: #6
|
0.9 | -57,409 | -35.3% |
P
S
|
105,000 | $3,694,805 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GNL
GLOBAL NET LEAS...
|
Real Estate | 1.95% | 0.31% |
#15
2
Prev: #13
|
2.9 | 79,968 | 23.4% |
P
S
|
422,227 | $3,629,764 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MRP
MILLROSE PPTYS ...
|
Real Estate | 1.69% | — |
#16
Prev: #—
|
2.7 | 105,062 | no change |
NEW
|
105,062 | $3,143,918 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FVR
FRONTVIEW REIT ...
|
Real Estate | 1.48% | 0.30% |
#17
3
Prev: #14
|
0.6 | -10,803 | -5.5% |
P
S
|
184,197 | $2,750,088 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SPY
PUT
SPDR S&P 500 ET...
|
PUT Option | 0.00% | 88.71% |
Sold All 😨
(Was: #1) |
0.3 | -1,201,900 | -100.0% |
CLOSED
|
— | $— | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RPT/PRC
RITHM PPTY TR I...
|
Unknown | 0.00% | 0.61% |
Sold All 😨
(Was: #8) |
0.3 | -218,613 | -100.0% |
CLOSED
|
— | $— | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ELME
ELME COMMUNITIE...
|
Bond/Debt | 0.00% | 0.48% |
Sold All 😨
(Was: #9) |
0.3 | -255,041 | -100.0% |
CLOSED
|
— | $— | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
UDR
UDR INC
|
Real Estate | 0.00% | 0.26% |
Sold All 😨
(Was: #15) |
0.3 | -62,000 | -100.0% |
CLOSED
|
— | $— | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FPAY
FLEXSHOPPER INC
|
Industrials | 0.00% | 0.12% |
Sold All 😨
(Was: #18) |
0.3 | -1,629,544 | -100.0% |
CLOSED
|
— | $— | 2023 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-22 of 22 holdings