Waterfall Asset Management, LLC Diversified Active

Location: New York, NY

CIK: 0001570717 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 12, 2025

Total Value: $226M (77.0% shares, 23.0% debt)

Holdings (12)

SPY SPDR S&P 500 ETF TR 63.0%

Value $142M Shares 230,000 Est. Cost — Unrealized —

— PENNYMAC CORP 11.5%

Value $26.04M Shares 26,051,000 Est. Cost $1.00 Unrealized —

— REDWOOD TRUST INC 9.1%

Value $20.48M Shares 20,717,000 Est. Cost $0.90 Unrealized —

RC READY CAPITAL CORP 7.6%

Value $17.08M Shares 3,908,983 Est. Cost $10.25 Unrealized —

— RITHM PPTY TR INC 2.4%

Value $5.464M Shares 218,613 Est. Cost $25.15 Unrealized —

APLE APPLE HOSPITALITY REIT INC 2.1%

Value $4.668M Shares 400,000 Est. Cost $11.67 Unrealized —

ELME ELME COMMUNITIES 1.1%

Value $2.583M Shares 162,797 Est. Cost $15.87 Unrealized —

FPAYQ FLEXSHOPPER INC 0.9%

Value $1.955M Shares 1,629,544 Est. Cost $1.10 Unrealized +15.6%

GNL GLOBAL NET LEASE INC 0.7%

Value $1.51M Shares 200,000 Est. Cost $7.55 Unrealized —

RITM RITHM CAPITAL CORP 0.7%

Value $1.509M Shares 133,714 Est. Cost $11.31 Unrealized —

PK PARK HOTELS & RESORTS INC 0.5%

Value $1.125M Shares 110,000 Est. Cost $10.23 Unrealized —

BRSP BRIGHTSPIRE CAPITAL INC 0.4%

Value $999K Shares 197,800 Est. Cost $5.05 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	230,000	$142M	63.0%	—	—	Put	78462F103
—	PENNYMAC CORP	26,051,000	$26.04M	11.5%	$1.00	—	NOTE 8.500% 6/0	70932AAH6
—	REDWOOD TRUST INC	20,717,000	$20.48M	9.1%	$0.90	—	NOTE 7.750% 6/1	758075AF2
RC	READY CAPITAL CORP	3,908,983	$17.08M	7.6%	$10.25	—	COM	75574U101
—	RITHM PPTY TR INC	218,613	$5.464M	2.4%	$25.15	—	9.875 FXD-FLT C	38983D862
APLE	APPLE HOSPITALITY REIT INC	400,000	$4.668M	2.1%	$11.67	—	COM NEW	03784Y200
ELME	ELME COMMUNITIES	162,797	$2.583M	1.1%	$15.87	—	SH BEN INT	939653101
FPAYQ	FLEXSHOPPER INC	1,629,544	$1.955M	0.9%	$1.10	+15.6%	COM NEW	33939J303
GNL	GLOBAL NET LEASE INC	200,000	$1.51M	0.7%	$7.55	—	COM NEW	379378201
RITM	RITHM CAPITAL CORP	133,714	$1.509M	0.7%	$11.31	—	COM NEW	64828T201
PK	PARK HOTELS & RESORTS INC	110,000	$1.125M	0.5%	$10.23	—	COM	700517105
BRSP	BRIGHTSPIRE CAPITAL INC	197,800	$999K	0.4%	$5.05	—	COM CL A	10949T109