Waterfall Asset Management, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 15, 2024), Waterfall Asset Management, LLC reported 1 stock position worth $32.0 million. Its top holding was Ready Capital (RC) at 100.0% of the portfolio. Compared with Q1 2024, it sold out of 1. The biggest sale was an exit from Flexshopper (FPAYQ).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001570717
Portfolio Value
$32.0M (Q2 2024)
SEC Filing
0000905148-24-002248 ↗ filed Aug 15, 2024

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $38.1M Q1 2024 Q2 2024: $32.0M $32.0M Q2 2024 Q3 2024: $33.3M Q3 2024 Q4 2024: $30.0M Q4 2024 Q1 2025: $22.6M Q1 2025 Q2 2025: $31.4M Q2 2025 Q3 2025: $63.7M Q3 2025 Q4 2025: $97.4M Q4 2025 Q1 2026: $111.0M Q1 2026 Q2 2026: $118.3M Q2 2026

Holdings 1 stocks · $32.0M
RC Ready Capital Corp. 100.00% 3,908,983 $32.0M No change
Other holdings (4): bonds, preferreds, convertibles and warrants · $84.3M (not counted above)
SecurityClassShares / PrincipalValueChange
REDWOOD TRUST INC (RWT 7.75 06/15/27) NOTE 7.750% 6/1 · principal 49,023,000$47.1MAdd +3.4%
TWO HARBORS INV CORP (TWO 6.25 01/15/26) NOTE 6.250% 1/1 · principal 15,939,000$15.4MReduce -65.9%
PENNYMAC CORP (PMT 5.5 03/15/26) NOTE 5.500% 3/1 · principal 11,760,000$11.1MReduce -40.6%
ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) NOTE 7.500% 8/0 · principal 10,750,000$10.6MNew

Total filed on the 13F, all lines: $116.3M.

Portfolio Sells Q1 2024 → Q2 2024
FPAYQ Flexshopper Inc. Sold out 0.00% −6.37

Portfolio Buys Q1 2024 → Q2 2024
None this quarter.

Notes & Other Activity Q1 2024 → Q2 2024
REDWOOD TRUST INC (RWT 7.75 06/15/27) NOTE 7.750% 6/1 · principal Add +3.4% 49,023,000 $47.1M
TWO HARBORS INV CORP (TWO 6.25 01/15/26) NOTE 6.250% 1/1 · principal Reduce -65.9% 15,939,000 $15.4M
PENNYMAC CORP (PMT 5.5 03/15/26) NOTE 5.500% 3/1 · principal Reduce -40.6% 11,760,000 $11.1M
ARBOR REALTY TRUST INC (ABR 7.5 08/01/25) NOTE 7.500% 8/0 · principal New 10,750,000 $10.6M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 16$118.3MAVB, CPT, MRP, BRSP, RITM
Q1 2026 17$111.0MCPT, AVB, APLE, RITM, MRP
Q4 2025 15$97.4MCPT, AVB, APLE, RC, NSA
Q3 2025 14$63.7MRC, APLE, AAT, LINE, ELME
Q2 2025 8$31.4MRC, APLE, ELME, FPAYQ, GNL
Q1 2025 3$22.6MRC, FPAYQ, RITM
Q4 2024 3$30.0MRC, FPAYQ, RITM
Q3 2024 4$33.3MRC, FPAYQ, CRMT, RITM
Q2 2024Amended 1$32.0MRC
Q1 2024 2$38.1MRC, FPAYQ