Q2 2025 · 13F-HR
Waterfall Asset Management, LLCholdings as filed
Filed 2025-08-12 · accession 0001752724-25-186395
$225.5M
Reported value
12
Positions
2025-06-30
Period end
The Brief · Waterfall Asset Management, LLC · Q2 2025
AI · grounded in 13F
Waterfall Asset Management, LLC established a new position in SPY valued at $142.1M. The fund also initiated new stakes in PennyMac Corp [[stock:PMT 8.5 06/01/29]] for $26M and Redwood Trust Inc [[stock:RWT 7.75 06/15/27]] for $20.5M. Additional new positions include Ready Capital Corp RC and Rithm Ppty Tr Inc [[stock:RPT V9.875 PERP]].
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $142.1M | 63.0% | 230,000 | PUT | SOLE |
| 70932AAH6 | PMT 8.5 06/01/29 | PENNYMAC CORP | $26.0M | 11.5% | 26,051,000 | Common | SOLE |
| 758075AF2 | RWT 7.75 06/15/27 | REDWOOD TRUST INC | $20.5M | 9.08% | 20,717,000 | Common | SOLE |
| 75574U101 | RC | READY CAPITAL CORP | $17.1M | 7.57% | 3,908,983 | Common | SOLE |
| 38983D862 | RPT V9.875 PERP | RITHM PPTY TR INC | $5.5M | 2.42% | 218,613 | Common | SOLE |
| 03784Y200 | APLE | APPLE HOSPITALITY REIT INC | $4.7M | 2.07% | 400,000 | Common | SOLE |
| 939653101 | ELME | ELME COMMUNITIES | $2.6M | 1.15% | 162,797 | Common | SOLE |
| 33939J303 | FPAYQ | FLEXSHOPPER INC | $2.0M | 0.87% | 1,629,544 | Common | SOLE |
| 379378201 | GNL | GLOBAL NET LEASE INC | $1.5M | 0.67% | 200,000 | Common | SOLE |
| 64828T201 | RITM | RITHM CAPITAL CORP | $1.5M | 0.67% | 133,714 | Common | SOLE |
| 700517105 | PK | PARK HOTELS & RESORTS INC | $1.1M | 0.50% | 110,000 | Common | SOLE |
| 10949T109 | BRSP | BRIGHTSPIRE CAPITAL INC | $998,890 | 0.44% | 197,800 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.