WATERFALL ASSET MANAGEMENT, LLC
Filing Date
Global Rank
#5,132
/ 8,232
▲ 584
Top Industry
REIT - Residential
30.9%
3Y Alpha vs SPY
-46.6%
Period ended 2 months ago
Filed May 8, 2026 · 36d
10 quarters · since Dec 2023
Clone Performance
Feb 2024–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
-51.2%
SPY
+52.9%
Annualised alpha
-46.6%
Max drawdown
−64.7%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
17 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
11.6%
−0.5 pts
Top 5
49.4%
−2.9 pts
Top 10
77.3%
−5.2 pts
HHI
733
Diversified−82
Portfolio Trend
10 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Real Estate | 100.0% | $110,803,361 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
8 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| BRSP | BrightSpire Capital, Inc. | +649,980 | 1,472,790 | $8,247,624 | |
| RITM | Rithm Capital Corp. | +325,979 | 1,026,404 | $9,730,309 | |
| MRP | Millrose Properties, Inc. | +219,984 | 325,046 | $9,101,288 | |
| PK | Park Hotels & Resorts Inc. | +213,959 | 581,643 | $6,124,700 | |
| APLE | Apple Hospitality REIT, Inc. | +53,389 | 935,516 | $10,767,789 | |
| CPT | Camden Property Trust | +24,704 | 131,704 | $12,862,212 | |
| DX | Dynex Capital Inc | +17,700 | 295,000 | $3,764,200 | |
| AVB | Avalonbay Communities Inc | +11,350 | 75,150 | $12,275,752 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
5 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| IVT | InvenTrust Properties Corp. | 164,962 | $5,024,742 | |
| VNO | Vornado Realty Trust | 170,500 | $4,431,295 | |
| DRH | DiamondRock Hospitality Co | 417,789 | $3,914,682 | |
| ESRT | Empire State Realty Trust, Inc. | 714,535 | $3,715,582 | |
| KREF | KKR Real Estate Finance Trust Inc. | 475,154 | $2,907,942 | |
| No positions match the current search. | ||||
17 positions ·
$110,803,361 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| CPT |
Camden Property Trust
Real Estate
|
Added | 131,704 | $12,862,212 | 11.61% | |
| AVB |
Avalonbay Communities Inc
Real Estate
|
Added | 75,150 | $12,275,752 | 11.08% | |
| APLE |
Apple Hospitality REIT, Inc.
Real Estate
|
Added | 935,516 | $10,767,789 | 9.72% | |
| RITM |
Rithm Capital Corp.
Real Estate
|
Added | 1,026,404 | $9,730,309 | 8.78% | |
| MRP |
Millrose Properties, Inc.
Real Estate
|
Added | 325,046 | $9,101,288 | 8.21% | |
| BRSP |
BrightSpire Capital, Inc.
Real Estate
|
Added | 1,472,790 | $8,247,624 | 7.44% | |
| RC |
Ready Capital Corp
Real Estate
|
Held | 3,908,983 | $6,332,552 | 5.72% | |
| PK |
Park Hotels & Resorts Inc.
Real Estate
|
Added | 581,643 | $6,124,700 | 5.53% | |
| AAT |
American Assets Trust, Inc.
Real Estate
|
Reduced | 279,323 | $5,142,336 | 4.64% | |
| IVT |
InvenTrust Properties Corp.
Real Estate
|
NEW | 164,962 | $5,024,742 | 4.53% | |
| VNO |
Vornado Realty Trust
Real Estate
|
NEW | 170,500 | $4,431,295 | 4.00% | |
| DRH |
DiamondRock Hospitality Co
Real Estate
|
NEW | 417,789 | $3,914,682 | 3.53% | |
| DX |
Dynex Capital Inc
Real Estate
|
Added | 295,000 | $3,764,200 | 3.40% | |
| GNL |
Global Net Lease, Inc.
Real Estate
|
Reduced | 397,609 | $3,721,620 | 3.36% | |
| ESRT |
Empire State Realty Trust, Inc.
Real Estate
|
NEW | 714,535 | $3,715,582 | 3.35% | |
| KREF |
KKR Real Estate Finance Trust Inc.
Real Estate
|
NEW | 475,154 | $2,907,942 | 2.62% | |
| LINE |
Lineage, Inc.
Real Estate
|
Reduced | 83,600 | $2,738,736 | 2.47% |