2026 Q2 Portfolio Activity
In 2026 Q2, Waterfall Asset Management, LLC maintained a portfolio of 23 distinct positions. The most significant new addition was FRANKLIN BSP RLTY TR INC, now representing 3.78% of the total fund value. They heavily accumulated shares in PENNYMAC CORP, increasing the position by 1395.5%. The fund also reduced its exposure to PENNYMAC CORP by 30.8%.
Position History
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Total Positions
23
Quarter
2026 Q2
Top Holding
N/A (25.5%)
Top 10 Concentration
80.2%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-23 of 23
Waterfall Asset Management, LLC Full Holdings List — 2026 Q2
| 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 | 25.51% | 34.46% |
#1
Prev: #1
|
6.0 |
—
|
-18,297,000 | -30.8% |
P
S
|
41,022,000 | $41,690,232 | — | 13F Filing | 2026-06-30 | 2026-08-12 | ||
|
AVB
AVALONBAY CMNTY...
|
Real Estate | 7.93% | 6.87% |
#2
1
Prev: #3
|
5.2 |
—
|
-6,500 | -8.6% |
P
S
|
68,650 | $12,953,569 |
$175.27
+3.0%
|
2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-12 | ||
|
CPT
CAMDEN PPTY TR
|
Bond/Debt | 7.83% | 7.19% |
#3
1
Prev: #2
|
4.6 |
—
|
-20,000 | -15.2% |
P
S
|
111,704 | $12,788,991 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
MRP
MILLROSE PPTYS ...
|
Real Estate | 7.67% | 5.09% |
#4
2
Prev: #6
|
6.1 |
—
|
92,315 | 28.4% |
P
S
|
417,361 | $12,541,698 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
BRSP
BRIGHTSPIRE CAP...
|
Real Estate | 6.93% | 4.61% |
#5
2
Prev: #7
|
5.8 |
—
|
603,796 | 41.0% |
P
S
|
2,076,586 | $11,317,394 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
RITM
RITHM CAPITAL C...
|
Real Estate | 6.48% | 5.44% |
#6
1
Prev: #5
|
4.6 |
—
|
101,180 | 9.9% |
P
S
|
1,127,584 | $10,587,464 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
PK
PARK HOTELS & R...
|
Real Estate | 6.01% | 3.43% |
#7
2
Prev: #9
|
4.4 |
—
|
107,973 | 18.6% |
P
S
|
689,616 | $9,827,028 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
RC
READY CAPITAL C...
|
Real Estate | 4.19% | 3.54% |
#8
Prev: #8
|
2.7 |
—
|
no change | no change |
P
S
|
3,908,983 | $6,840,720 | 2023 Q4 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
APLE
APPLE HOSPITALI...
|
Real Estate | 3.87% | 6.02% |
#9
5
Prev: #4
|
1.5 |
—
|
-559,572 | -59.8% |
P
S
|
375,944 | $6,319,619 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
FBRT
FRANKLIN BSP RL...
|
Real Estate | 3.78% | — |
#10
Prev: #—
|
5.0 |
—
|
758,000 | — |
NEW
|
758,000 | $6,170,120 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
DRH
DIAMONDROCK HOS...
|
Real Estate | 3.40% | 2.19% |
#11
2
Prev: #13
|
3.4 |
—
|
39,015 | 9.3% |
P
S
|
456,804 | $5,563,873 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
GNL
GLOBAL NET LEAS...
|
Real Estate | 3.12% | 2.08% |
#12
3
Prev: #15
|
3.7 |
—
|
172,420 | 43.4% |
P
S
|
570,029 | $5,096,059 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
SVC
SERVICE PPTYS T...
|
Bond/Debt | 2.97% | — |
#13
Prev: #—
|
4.7 |
—
|
2,875,000 | — |
NEW
|
2,875,000 | $4,858,750 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
DX
DYNEX CAP INC
|
Real Estate | 2.59% | 2.11% |
#14
Prev: #14
|
3.0 |
—
|
27,500 | 9.3% |
P
S
|
322,500 | $4,227,975 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
ESRT
EMPIRE ST RLTY ...
|
Real Estate | 2.28% | 2.08% |
#15
1
Prev: #16
|
1.4 |
—
|
-25,000 | -3.5% |
P
S
|
689,535 | $3,730,384 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
RPT/PRC
RITHM PPTY TR I...
|
Unknown | 2.13% | 1.94% |
#16
1
Prev: #17
|
1.9 |
—
|
no change | no change |
P
S
|
139,481 | $3,475,652 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
VNO
VORNADO RLTY TR
|
Bond/Debt | 1.95% | 2.48% |
#17
5
Prev: #12
|
0.8 |
—
|
-89,500 | -52.5% |
P
S
|
81,000 | $3,183,300 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
PMT
PENNYMAC MTG IN...
|
Real Estate | 1.38% | — |
#18
Prev: #—
|
4.1 |
—
|
199,682 | — |
NEW
|
199,682 | $2,252,413 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
LINE
LINEAGE INC
|
Real Estate | 0.00% | 1.53% |
Sold All 😨
(Was: #20) |
0.0 |
—
|
-83,600 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
N/A
REDWOOD TRUST I...
|
|
Bond/Debt | 0.00% | 1.55% |
Sold All 😨
(Was: #19) |
0.0 |
—
|
-2,743,000 | -100.0% |
CLOSED
|
— | $— | — | 13F Filing | 2026-06-30 | 2026-08-12 | ||
|
KREF
KKR REAL ESTATE...
|
Real Estate | 0.00% | 1.71% |
Sold All 😨
(Was: #18) |
0.0 |
—
|
-475,154 | -100.0% |
CLOSED
|
— | $— | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
IVT
INVENTRUST PPTY...
|
Real Estate | 0.00% | 2.81% |
Sold All 😨
(Was: #11) |
0.0 |
—
|
-164,962 | -100.0% |
CLOSED
|
— | $— | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-12 | |||
|
AAT
AMERICAN ASSETS...
|
Real Estate | 0.00% | 2.88% |
Sold All 😨
(Was: #10) |
0.0 |
—
|
-279,323 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-12 |
Showing 1-23 of 23 holdings